Business News

US Judge Refuses to Halt Fracking in Nevada

Posted: 09/27/2014 - A federal judge has refused to block the release of oil and gas leases in Nevada that critics say will be used for hydraulic fracturing that could harm sage grouse and cause more environmental damage than the Bureau of Land Management admits.

Man Who Raised $55K For Potato Salad Throws Party

Posted: 09/27/2014 - An Ohio man who raised $55,000 in a joking crowdfunding appeal to pay for his first attempt at making potato salad has thrown a huge public party that promised "peace, love and potato salad."

Nevada Employee Insurance Program Got Bad Rap

Posted: 09/26/2014 - The Pew Charitable Trusts has revised a report on state employee health insurance benefits to show Nevada's program is better than originally stated and generally in line with national averages.

Pink Scolari's in South Reno Closing

Updated: 09/23/2014 - Scolari’s Food & Drug Company has announced the closure of its store, widely known as the pink Scolari's, at 8165 South Virginia Street in Reno. The closing will be effective October 31, 2014.
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Nevada Changes Urged to Promote Electric Cars

Posted: 09/22/2014 - A nonprofit group promoting energy efficiency is recommending a number of ways Nevada can do more to promote the use of electric cars in the wake of Tesla Motors' plans to build a $5 billion battery factory in the state.

$70M Grant For Biofuels Plant Planned East of Reno

Updated: 09/21/2014 - A California-based biofuel company building a plant east of Reno has been awarded a $70 million grant from the U.S. Department of Defense to help speed delivery of its high-tech process that converts household garbage into jet fuel.

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Economic News

  • Factory Expansion Takes a Breather
    The U.S. factory sector's expansion slowed a bit in September from its breakneck pace in August, with manufacturers focused on boosting output with only modest hiring.
  • U.S. Jobless Claims Fall by 8,000
    The number of new applications for unemployment benefits fell again last week, the latest sign layoffs are declining amid a generally improving economy.
  • U.S. Consumer Confidence Unexpectedly Drops
    U.S. consumers unexpectedly pulled back on their economic optimism in September.
  • Italy's Woes Show ECB Dilemma
    Economists have grown increasingly concerned that even beefed-up ECB action would be far less effective in the eurozone than similar measures in the U.S. and U.K. have been in boosting growth there.
  • U.S. Private Sector Adds 213,000 Jobs
    Hiring at U.S. businesses picked up in September, with manufacturing hiring particularly strong, according to a survey from payroll processor Automatic Data Processing.
  • U.S. Home-Price Growth Slows Again
    The yearly growth in home prices across the U.S. slowed more than expected in the middle of summer, according to a home price report.
  • De Blasio Signs Living Wage Law
    The executive order raises New York City's living wage at government-backed projects by more than $1 an hour and expands the law to include thousands more workers.
  • Stubborn Bond Yields and the Man Who Saw Them Coming
    HSBC's Steven Major, one of the few analysts who wasn't caught off guard by the strength of Treasurys this year, still sees 10-year yields at 2.1% by year-end.

US Business News

  • Coke Changes Executive Pay Plan
    Coca-Cola, bowing to pressure from lead investor Warren Buffett, announced changes to its executive-pay plan that will result in fewer stock awards.
  • New Vaccines Target Deadly Virus in Pigs
    Drug companies are racing to create vaccines to stifle a deadly swine virus that has roiled the U.S. meat industry and pushed pork prices to record highs.
  • U.S. Buyers Keep Auto Industry Humming
    American consumers are buying new cars and trucks at the strongest pace in years, offsetting car makers' troubles elsewhere and leading the biggest U.S. auto maker to forecast fat profits ahead.
  • Allianz Chief to Step Down
    Less than a week after Pimco co-founder Bill Gross left the firm, the asset manager's German parent company, Allianz, said its top executive is also on his way out.
  • ECB to Start Bond Buys This Month
    The European Central Bank kept interest rates unchanged at record lows as officials wait to see if aggressive stimulus measures announced earlier are enough to boost the eurozone's fragile economy.
  • Angry Birds Maker to Cut 16% of Workforce
    Finland's Rovio Entertainment, the maker of blockbuster mobile game "Angry Birds," said it plans to cut up to 130 jobs in the country, or about 16% of the workforce.
  • Rocket Internet Shares Fall in IPO
    Rocket Internet shares fell below their issue price at debut on the Frankfurt stock exchange, in a disappointing start for the Berlin-based investor in online businesses.
  • Emirates Expansion Opens Up New Trade Routes in Africa
    After a wave Africans set up business in Dubai in the past decade to trade with the continent, Dubai and its government-owned entities are now increasingly investing in African nations.
  • Darden Touts Sales Growth
    Darden, facing a proxy fight for control of its board, said sales increased for most of its chains in September and it expects earnings for the current quarter to come in at the higher end of its guidance.
  • Constellation Buys Mexican Glass Plant
    Constellation Brands agreed to buy a Mexican glass factory from Anheuser-Busch InBev NV for $300 million. The spirits maker also posted lower-than-expected profit and revenue for the latest quarter.
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