Business News

California Lottery Sales Top $5B for First Time

Posted: 10/19/2014 - California Lottery officials say they have had a winning year with annual ticket sales surpassing $5 billion for the first time in the state lottery's 30-year history.

Apple Unveils New Thin iPad

Posted: 10/16/2014 - Apple unveiled a thinner iPad Thursday with a faster processor and a better camera as it tries to drive excitement for tablets amid slowing demand.

El Dorado County Wineries Making a Comeback

Posted: 10/15/2014 - Though winemakers say they will have to adjust their yields, they are still boastful about their small case production of varietals like syrah and grenache.
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Economic News

  • France Pressures Berlin for Stimulus Plan
    French ministers urged Germany to put in place a three-year, €50 billion stimulus program, deepening the confrontation over economic policy between Paris and Berlin.
  • Italian Minister Urges Patience on Economic Measures
    Italy’s Economy Minister Pier Carlo Padoan rebuffed criticism that the country is moving too slowly in liberalizing its economy, stressing that a mix of economic overhauls and budget measures recently unveiled by Rome could help boost growth by 2015.
  • Regulator: Pact With Lenders Could Expand Mortgage Access
    A top federal housing regulator in a speech Monday said Fannie Mae, Freddie Mac and lenders had reached an agreement in principle that could expand access to mortgages for many Americans.
  • Fed to Banks: Shape Up or Risk Breakup
    Federal Reserve officials told bank executives they must do more to curb excessive risk-taking and improve behavior at their firms or face stiff repercussions, including being broken into smaller pieces.
  • Australian Central Bank Eyes Home Loans
    Australia’s central bank stressed the importance of maintaining rigorous standards on loans to property investors, reflecting its rising concern that speculators are dominating the housing market.
  • Despite Uncertainty, Fed Holds Steady
    The Fed is likely to end its bond-buying program this month even as market volatility and uncertainties about the global economy have rattled investors and led to some mixed messages from central-bank officials.
  • Pension Funds Eye Reducing Hedge-Fund Investments
    Pension-fund managers across the U.S. are rethinking their investments in hedge funds in the wake of a retreat by the California Public Employees’ Retirement System.
  • China Growth Seen Slowing Sharply
    China’s growth will slow sharply during the coming decade to 3.9% as its productivity nose dives and the country’s leaders fail to push through tough measures to remake the economy, according to a report by the business-research group the Conference Board.

US Business News

  • IPhone 6 Recharges Apple's Growth
    Apple said its quarterly profit rose 13%, and it predicted record holiday sales, as strong demand for its new larger-screen iPhones helped to overcome sluggish iPad sales.
  • IBM Woes Point to a Fresh Overhaul
    IBM, two decades after successfully shifting its emphasis to software and computer services from hardware, is showing signs of needing another overhaul.
  • Big Chains Put a Lock on First-Run Movies
    Multiplex movie chains are more frequently gaining exclusivity of new releases in certain areas, shutting out independent theaters.
  • Amazon, Simon & Schuster Reach Book Contract
    Amazon and CBS Corp.’s Simon & Schuster have reached a new multiyear print and digital contract, a pact that comes as the online retailer continues difficult negotiations with Hachette Book Group.
  • AbbVie, Shire Terminate Deal
    AbbVie and Shire terminated their $54 billion deal, killing the year’s biggest agreed-upon merger amid a U.S. government push against so-called inversion deals.
  • Andreessen to Leave eBay Board
    Marc Andreessen is stepping down from eBay’s board. The venture capitalist’s various board seats had been criticized by eBay investor Carl Icahn.
  • Facebook Sues Lawyers for Allegedly Contributing to Fraud
    Facebook and Chief Executive Mark Zuckerberg filed suit against several attorneys Monday, claiming they helped perpetuate a fraud against the social network and its founder.
  • UPS Plans 4.9% Average Price Increase
    UPS is planning to increase freight rates by an average of 4.9% a package after the holiday season, in the U.S., Canada and Puerto Rico, the company said Monday.
  • Texas Instruments Forecast Tops Views
    Texas Instruments Inc. projected fourth-quarter profit that topped Wall Street’s estimates as the chipmaker also reported that its third-quarter earnings rose 31% thanks to stronger sales and margins.
  • Adidas CEO Faced With Choice on Reebok
    Adidas CEO Herbert Hainer needs to decide if it’s better to welcome an unsolicited bid for the Reebok unit and cash out now on a nascent recovery in the brand or double down on a more pronounced rebound.
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