Business News

UK Fraud Office Probes Central Bank Auctions

Posted: 3:41 PM - Britain's Serious Fraud Office says it is investigating Bank of England auctions in 2007 and 2008 that were designed to inject cash into the banking system during the financial crisis

Eliminating the 1031 Tax-Deferred Exchange

Updated: 8:14 AM - In his State of the Union address, the President proposed several tax increases his administration says would raise about 320 billion dollars in additional revenue. But local investors say one of those proposed tax increases could negatively affect growth in the area.

Changes Coming to Modified Business Tax

Updated: 8:20 AM - If you own a business, you could be paying more taxes next year. The Nevada legislature is looking at businesses to help fund schools and the state economy.

Concert Series Headed To Hard Rock at Tahoe

Posted: 8:31 AM - The new Hard Rock Hotel & Casino Lake Tahoe is joining forces with PR Entertainment, Inc. to bring the Hard Rock Hotel & Casino Lake Tahoe outdoor summer concert series to South Shore.

Fiat Chrysler Posts 6% US Sales Gain

Posted: 03/03/2015 - Fiat Chrysler overcame freezing temperatures and a barrage of Northeast snowstorms to post a 6 percent U.S. sales gain last month, a sign that the customers brushed off the snow and continued to buy cars.

Volkswagen CEO Stands By Cautious Outlook

Posted: 03/02/2015 - The CEO of Volkswagen AG is staying with his cautious outlook for this year, saying it's a "balanced assessment" of growth in the U.S. and China versus trouble spots such as Russia and Brazil.

More Business News

Economic News

  • Washington Strips New York Fed's Power
    A panel run by Fed governor Daniel Tarullo has taken regulatory authority over Wall Street banks from the once-mighty New York Federal Reserve bank.
  • China Lowers Growth Target to About 7%
    China lowered its economic growth forecast to about 7% this year at the opening of the country’s biggest political event of the year, ushering in what leaders have dubbed a “new normal” of slower growth.
  • Negative Interest Rates Yield Positive Results---So Far
    Capital Account: Chief economic commentator Greg Ip explores the “zero bound” on interest rates and finds that while a dip below may achieve policy makers’ desired results of stirring growth, a deeper dive may backfire.
  • Beige Book: Hiring, Spending Solid at Start of Year
    The U.S. economy continued to expand across most of the country at the start of the year amid broad-based hiring and rising consumer spending, according the Fed’s latest beige book survey of regional economic conditions.
  • Businesses Report Modest Hiring
    Business hiring remained modest last month, according to an employment survey. The ADP report is not seen changing forecasts for Friday’s widely-watched employment report from the Labor Department.
  • Service-Sector Activity Edges Up
    The expansion in the U.S. non-manufacturing sector continued at a pace slightly better than expected last month, according to data released by the Institute for Supply Management. The ISM index inched higher to 56.9 from January’s 56.7.
  • Yellen Scolds Wall Street on Culture, Ethics
    Federal Reserve Chairwoman Janet Yellen raised concerns about the state of Wall Street’s culture and ethics, echoing similar comments from other regulatory officials and increasing pressure on the biggest U.S. banks to improve.
  • Bank of Canada Stands Pat
    Canada’s central bank left its key interest rate unchanged at 0.75% Wednesday, calling the monetary stimulus currently in place “still appropriate” and sounding a less-dovish-than-expected note on future rate moves.
  • Inflation in Developed Economies Halved in January
    The annual rate of inflation across the world’s developed economies more than halved in January, reaching its lowest level since the recession that followed the global financial crisis.

US Business News

  • McDonald's to Curb Antibiotics in Chicken
    McDonald’s plans to curtail antibiotics use in its U.S. chicken, a move that could help kick-start a broader food-industry response to growing public-health alarm around drug-resistant bacteria.
  • Toyota to Diversify Senior Posts
    Toyota tapped a foreigner as an executive vice president for the first time in the company’s nearly eight-decade history.
  • Big Firms Finally Start to Ramp Up Spending
    Large companies across the U.S. are gearing up to increase capital spending, and the new business investment could give another boost to the strengthening U.S. economy.
  • AbbVie to Buy Pharmacyclics in $21 Billion Deal
    AbbVie said it will buy cancer biotech Pharmacyclics in a $21 billion deal that returns the Chicago drug company to deal-making after backing away from a big tax-lowering takeover last year.
  • Simon Property Makes Takeover Approaches to Macerich
    Simon Property Group Inc. has made takeover approaches for rival Macerich Co., seeking to combine two of the largest shopping-mall owners in the U.S.
  • Crafts Site Etsy Files for Initial Offering
    Etsy unveiled plans to further test investors’ appetite for e-commerce companies, filing for an initial public offering a decade after it was founded in a Brooklyn, N.Y., apartment as a way to sell handmade goods online.
  • Xiaomi Expects Sales to Surge in 2015
    Xiaomi expects sales and smartphone shipments to each rise by more than 30% this year, its CEO said, as the Chinese smartphone maker looks to overseas markets to keep up its growth.
  • Apple to Make Larger iPad in Second Half
    Apple suppliers have been told to start production of a larger-screen iPad in the second half of this year as the U.S. tech giant wrestles with new designs and features for the enterprise market.
  • Foreign Businesses Face Backlash in South Africa
    As South Africa’s economy falters, it is no longer so welcoming to outsiders.
  • Germany Aims to Foster Startups
    Germany’s government is pushing to expand tax breaks for startups and trying to ease their path to the stock market, in an effort to buck a trend that worries policy makers: a decline in entrepreneurialism.
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