Business News

Pink Scolari's in South Reno Closing

Updated: 6:46 PM - 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.

Nevada Changes Urged to Promote Electric Cars

Posted: 9:54 AM - 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.

King Fire Impacts Local Nuptials

Posted: 09/20/2014 - Local football games, soccer games and school recesses all have been impacted by smoke from the King Fire. But the smoke could change the schedules of events you probably haven't thought of. Some couples will be looking at the skies this weekend and crossing fingers.

Alibaba Prices IPO at $68 Per Share

Posted: 09/18/2014 - Chinese e-commerce powerhouse Alibaba priced its initial public offering of stock at $68 per share on Thursday, the top end of the expected range.

Stocks Hit Record Highs

Posted: 09/18/2014 - The U.S. stock market is closing at record highs following another piece of good news on the economy.

Applications for US Jobless Benefits Fall

Updated: 09/18/2014 - The number of people applying for U.S. unemployment benefits dropped by a sharp 36,000 last week to a seasonally adjusted 280,000, a sign that the job market is strengthening.

More Business News

Economic News

  • U.S. Home Sales Falter as Investors Pull Back
    The U.S. housing market lost momentum in August as investors pulled away, weighing on existing-home sales and raising doubts about the sector's underlying strength.
  • Fed's Plosser to Retire in March
    Charles Plosser, president of the Federal Reserve Bank of Philadelphia, said Monday he will step down from his post on March 1.
  • Should Lending Standards Ease?
    As officials flag worries about a soft housing recovery, they face a hard question: Is the drag on housing due mainly to tight lending standards? Or is the real culprit weak demand?
  • G-20 Continues Growth Push
    Finance ministers from the world's biggest economies reaffirmed a pledge to sharply boost world growth through more infrastructure spending, amid demands for some participants—especially European countries—to do more.
  • Fed Rate-Hike Tool Stirs Some Concern
    Federal Reserve Chairwoman Janet Yellen spent months devising a strategy for managing short-term interest rates. Two days after the plan's release, some market participants warn the new approach may have flaws.
  • The Penny May Not Be From Heaven
    The U.S. Mint makes billions of new one-cent coins every year—more than any other denomination. But the penny costs more than its face value to produce.
  • Household Wealth Hits Record
    Americans' wealth hit the highest level ever in the second quarter amid a rise in stock and home prices, prompting consumers to ramp up their borrowing—a development that could boost the economic recovery.
  • Affordable Homes Drive Rebound in Exurbia
    The exurbs are starting to make a comeback, signaling that the housing market's recovery is slowly spreading beyond major cities and their suburbs.
  • Jobless Claims at Second-Lowest Level in 14 Years
    The number of new applications for unemployment benefits dropped last week to near postrecession lows, the latest indication layoffs are trending sharply lower amid generally improving economic conditions.
  • Fed Plots Cautious Course on Rate Hikes
    The Federal Reserve took two steps toward winding down the historic easy-money policies that have defined its response to the financial crisis but stopped short of the move markets are awaiting most: signaling when interest rates will start to rise.

US Business News

  • U.S. Issues New Rules to Combat Tax Inversions
    The Obama administration on Monday issued new rules to combat so-called tax inversions, intended to make the deals harder to accomplish and less profitable.
  • German Firms Go on U.S. Buying Spree
    German companies are on a buying spree, and the U.S. is their biggest target. The acquisitions are driven by record-low interest rates and stagnation in Europe, economic growth in the U.S., and expanding cash hoards at thriving German companies.
  • Tesco Probes Accounting Error
    Tesco has suspended four senior executives and called in outside auditors and legal counsel to investigate the overstatement of the U.K. supermarket operator's profit forecast.
  • FTC Considers Challenge to Food Merger
    The FTC is considering a possible antitrust suit to block the merger of Sysco and US Foods, concerned that combining the nation's two biggest food-service suppliers could threaten competition, according to people familiar with the matter.
  • Allergan Rejected Offer From Actavis
    Drug company Actavis recently made a bid for Allergan, but the Botox maker rejected the proposal and is closing in on its own takeover for Salix Pharmaceuticals.
  • Pentagon's Weapons Push Faces Skeptics
    The Pentagon is proposing significant changes to how it develops and buys new weapons, but some in the industry say the biggest hurdle to success could lie in the agency's own staff.
  • U.S. Steel CEO Takes on Heavy Load
    One year into leading U.S. Steel, Mario Longhi says "everything is on the table" as he tries to bring the company back from five years of losses.
  • NFL Picks Female Executive as Marketing Chief
    The NFL picked female ad executive Dawn Hudson as its new chief marketing officer as the league confronts a mounting backlash over its handling of domestic- and child-abuse incidents involving players.
  • Bidders Emerge for United Biscuits
    At least three bidders emerged for British cookie maker United Biscuits, including Kellogg, the Ontario Teachers' Pension Plan and a Turkish biscuit maker, with offers totaling around $3.27 billion.
  • Apple Sells Over 10 Million New iPhones in First Weekend
    Apple Inc. said it sold more than 10 million of its latest iPhones in its first weekend of availability amid significant supply shortages and demand for scalped iPhones in Asia.
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