Business News

Reno Amazon Warehouse Opens and Starts Shipping

Posted: 2:08 PM - Amazon has confirmed that its new fulfillment center in Reno has shipped its first customer order. The stovetop deep fryer was shipped from the 600,000-plus-square-foot facility to an Amazon customer from California’s Central Coast.

Romanians Protest Swiss Franc Loans Repayments

Posted: 01/25/2015 - Hundreds of people have protested in Romania against high repayments for Swiss franc loans, blaming the banks for offering deceptively cheap loans and calling on the government to regulate hard currency loans.

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Economic News

  • Hard Choices on Easy Money Lie Ahead for Fed Chief
    Janet Yellen’s job is about to get harder after a relatively easy first year as Federal Reserve chairwoman, as she looks to move past the preset course of winding down a bond-buying program and begin raising interest rates.
  • Consumer Confidence Surges
    U.S. consumers turned exceedingly upbeat about the economy at the start of 2015, with the Conference Board’s index of consumer confidence hitting its highest level since August 2007.
  • Durable-Goods Orders Falter, Stirring Concern
    Demand for big-ticket manufactured goods tumbled last month, a sign U.S. businesses remain cautious about spending despite the economy’s recent momentum.
  • Europe, Greece Dig In Over Debt
    Greece and its creditors veered toward confrontation as its new, leftist government pledged to make good on promises to reverse years of public-spending cuts despite warnings from European capitals that doing so could plunge the country, and Europe, into deeper crisis.
  • Russia Rating Slips to Junk, Hurting Ruble
    Russia’s fractured economy suffered another potential blow Monday after credit-rating firm Standard & Poor’s cut the country’s credit rating to junk.
  • CBO: Deficit to Narrow, Then Widen in '18
    Existing budget restraints and stronger economic growth will chip away at the federal deficit into 2017 before the gap begins to widen again, the Congressional Budget Office said, providing ammunition for both parties ahead of the White House’s first budget proposal to the Republican-controlled Congress.
  • BOE Rate Setter Suggests Need to Act Earlier
    At the Bank of England, a former White House adviser is scrutinizing the global crosscurrents buffeting the U.K. economy. Her conclusion: Interest rates in Britain may need to start slowly rising sooner than many people think.
  • Weak Yen Lifts Japan Exports
    Japan’s trade deficit shrank to its lowest level in 18 months in December, as robust exports to the U.S. showed that Prime Minister Shinzo Abe’s policy of pushing down the yen finally appears to be helping the economy.
  • Currency Fight Hinders Talks on Trade Deal
    Concern that some trade partners are manipulating their currencies to gain an export edge has emerged as a major hurdle to the Obama administration’s efforts to move a Pacific trade agreement through Congress.
  • Vote Against Austerity Tests Eurozone Cohesion
    Europe File: After the Greek vote, a growing anti-reform electoral tide poses a direct risk to the long-term viability of the single currency, says Simon Nixon.

US Business News

  • Strong Dollar Squeezes U.S. Firms
    The stronger dollar is slicing sales and profits at big American companies, prompting them to put renewed emphasis on cost cutting and cramping the broader U.S. economy.
  • Microsoft's Windows Shows Its Age
    Microsoft said the stronger dollar and a shift to Web-based software cut into its sales of Windows, Office and computer-server products to corporations.
  • NFL to Air Domestic-Abuse Ad at Super Bowl
    The NFL is financing a chilling spot on domestic violence to air during the Super Bowl, as the league looks to repair damage to its image caused by player scandals.
  • China Aims to Prop Up Its Chip Makers
    As China tries to forestall foreign governments from tapping its phones, the country is investing growing amounts of money into domestic chip makers and tasking them with developing processors for “safe phones.”
  • A New Set of Eyes on P&G's Beauty Business
    David Taylor, who has emerged as the top contender for the CEO job at Procter & Gamble, made his mark in part by overseeing big divestitures. Now he is tasked with fixing the beauty division.
  • FTC Clears Safeway-Albertsons Merger
    The U.S. Federal Trade Commission cleared the merger of supermarket operators Safeway Inc. and Albertsons after the companies agreed to sell 168 stores to address the commission’s competition concerns.
  • Caterpillar Loses Traction Again
    Caterpillar gave a disappointing outlook for 2015, citing plummeting commodity prices, as the heavy-machinery maker also reported earnings for the fourth quarter that missed expectations.
  • Pfizer Sales Hit by Stronger Dollar
    Pfizer said a strong U.S. dollar and recent drug-patent losses contributed to a 52% drop in net income in the fourth quarter and would depress results this year. It also settled a securities lawsuit.
  • Facebook Denies Hacking Claim
    Facebook denied being the victim of a hacking attack and said its site and photo-sharing app Instagram had suffered an outage after it introduced a configuration change.
  • A Radical Idea for Activist Investors
    The Game: What if activist shareholders pressed companies not to cut costs, but to invest more, with an eye on long-term progress instead of short-term gains? Now that would be different, writes Dennis Berman.
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