Business News

Cosmopolitan Names New CEO

Posted: 12/17/2014 - The Cosmopolitan on the Las Vegas Strip is hiring William McBeath to be the hotel-casino's new president and CEO after the property's $1.73 billion sale to Blackstone Group is complete.

Stocks Jump as Fed Promises Patient Approach

Updated: 12/17/2014 - The U.S. stock market had its best day in more than a year after the Federal Reserve said it would to remain "patient" in its approach to raising interest rates.

Lower Gas Prices-Winners/Losers

Updated: 12/16/2014 - The cost of gasoline continues to drop. That no doubt means more money in your pocket just in time for the holidays. The trend should continue. The market closed December 16 with the price for a barrel of oil at $55.
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Apple Wins Class-Action iPod Trial

Posted: 12/16/2014 - After just a few hours of deliberation, a jury in California has found in favor of Apple in a billion-dollar class-action lawsuit over the price of its iPod music players.

Caesars Misses $225 Million Interest Payment

Posted: 12/15/2014 - Caesars Entertainment Corp. officials say they won't make a $225 million interest payment due Monday on some of its debt as the company keeps negotiating with senior bondholders to restructure the company's finances.

More Business News

Economic News

  • Fed Sets Stage for Rate Hikes
    The Federal Reserve took a delicate step toward raising short-term interest rates in 2015, but at the same time exposed its skittishness about signaling a historic move away from easy-money policies.
  • Dollar Gains Against Major Currencies
    The dollar rose against other major currencies Thursday, as investors were encouraged by the Federal Reserve’s latest comments.
  • Ruble Volatile Despite Intervention
    The ruble strengthened in afternoon trading after Russia’s central bank announced measures to shore up the country’s banks following another volatile day for the currency.
  • Home Building Faltered in November, but Broader Trends Point Up
    Housing starts fell 1.6% in November, the latest sign of an uneven housing recovery.
  • Ukraine Aims to Pass Budget Cuts, Reforms
    Ukraine’s government will pass fresh budget cuts and economic overhauls in the coming weeks in a bid to secure a broad new package of international assistance, the country’s new finance minister said.
  • U.S. Industrial Production Surpasses Prerecession Peak
    U.S. manufacturing output climbed past its prerecession peak this fall, suggesting the American economy is on solid footing despite growing signs of weakness abroad.
  • Russia Moves to Help Lift Sinking Ruble
    A spiraling currency crisis, fueled by the bite of Western sanctions and the plummeting price of oil, spurred Russia’s central bank to raise interest rates late Monday, a drastic move aimed at shoring up the collapsing ruble.

US Business News

  • Can Wal-Mart Clerks Ship as Fast as Amazon Robots?
    Retailers’ answer to the threat of Amazon.com is something called ‘omnichannel’—an attempt to use one set of inventory and assets to fill all orders. Wal-Mart, Macy’s and Target are relying on the approach more heavily than ever this holiday season.
  • Amazon Confirms Rollout of One-Hour Delivery Service
    Amazon on Thursday launched a new service in Manhattan to deliver daily essentials such as shampoo, paper towels and toys within an hour.
  • Fears Spread of Sony-Style Hack
    Damaging revelations from the computer assault on Sony are playing like a horror movie in executive suites, prompting companies to review security measures and reconsider what is said in an email.
  • Sony Pictures Runs the Show
    Sony Pictures’ struggles with hackers over the movie “The Interview” has demonstrated the movie studio’s relative independence from Sony headquarters in Tokyo.
  • Ruble Pressures Auto Makers to Rethink Russia Business
    Car makers aren’t pulling out of Russia yet, but they are growing increasingly nervous and moving to control the damage from plunging consumer demand and exposure to Russia’s swooning currency.
  • Kraft Foods Announces CEO Change
    Kraft Foods said Chairman John Cahill will replace CEO Tony Vernon next week, saying the comany needs to change more quickly amid challenging food industry.
  • Macmillan, Amazon Reach New Deal
    Amazon.com and Macmillan have struck a new multiyear agreement covering the sale of print and digital books, assuring that Amazon will continue to sell and promote Macmillan titles during the holiday selling season.
  • U.S. Firms Examine Prospects of Cuba Trade
    The White House’s move to normalize ties with Cuba could give U.S. companies access to a market that’s been largely off-limits for more than a half century but has less commercial allure than it once did.
  • Ports Crisis Brings Commerce to Crawl
    Tommy Bahama and other retailers are a casualty of congestion snarling ports on the West Coast. The logjam in part stems from labor negotiations between port employers and workers.
  • AbbVie Pins Hopes on Hepatitis C Treatment
    AbbVie is hoping for regulatory approval this month of its first significant new drug product in a decade: a multidrug regimen for the liver disease hepatitis C. AbbVie currently relies on just one drug to generate 63% of its revenue: the anti-inflammatory drug Humira.
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