Business News

BofA Reaches $17B Settlement With US

Posted: 08/20/2014 - Officials familiar with the deal say Bank of America has reached a record $17 billion settlement with federal and state authorities over its role in the sale of mortgage-backed securities in the run-up to the 2008 financial crisis.

Lucrative Grand Canyon Contract Up for Bid

Posted: 08/19/2014 - One of the most lucrative contracts in the National Park Service is going out to bid for a third time, after Grand Canyon officials found the previous bids unacceptable.

US Retail Sales Flat in July

Posted: 08/13/2014 - U.S. retail sales were essentially flat in July, providing evidence that consumers have yet to shed their doubts about the economy despite recent job gains.

Local Businesses Alter Hours For New School Schedule

Updated: 08/08/2014 - When the Washoe County School District adopted a new school calendar last year, it left more time for families to take vacations throughout the year. But for some businesses that employ high school kids, and cater to the younger crowd, the new calendar has meant a new business plan.
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Economic News

  • Central Bankers Wrestle With Easy Money
    Central bankers gathering for the Jackson Hole conference confront a global economy that has once again disappointed, leaving them reluctant in some places and unable in others to turn off spigots of easy money.
  • China Faces Growth Concerns
    China's economy faces an uphill battle for the rest of 2014, adding pressure on Beijing to step up government spending or free up money to spur growth.
  • U.S. Existing-Home Sales Up 2.4%
    Sales of previously owned homes rose in July to their highest level since last September, the latest sign that the U.S. housing recovery has regained its footing after a shaky stretch following last year's jump in mortgage rates.
  • U.S. Jobless Claims Fall
    New applications for unemployment benefits fell last week to levels that haven't been seen regularly in eight years, the latest sign of an improving labor market.
  • Fed Debates Early Rate Increases
    Federal Reserve officials debated at their July policy meeting whether they might need to raise interest rates sooner than expected in light of a strengthening recovery, but they were restrained by lingering doubts about whether the economy's gains would persist.
  • U.S. Home Size Levels Off, for Now at Least
    The two-year trend of big houses getting even bigger appears to have peaked—at least for now—as more buyers seeking modest homes enter the market.
  • In Phoenix, a Realty Check as Market Moderates
    Phoenix stands as a prime example of how some of the country's hottest housing markets are struggling to pass the baton from bargain-hunting investors to traditional buyers.
  • Regulators Eye Variable Annuity Sales
    Responding to customers' complaints, some states are putting a spotlight on how financial advisers sell variable annuities—and the results aren't pretty.
  • U.S. Consumer Prices Rose 0.1% in July
    Consumer prices advanced in July at their slowest pace since February, which could give the Federal Reserve more flexibility to maintain policies designed to stimulate stronger economic growth.
  • Fed Bets It Won't Fall Behind Curve on Rates
    Many economists fear the Fed will wait too long before raising interest rates, but officials believe markets and economic indicators aren't signaling an economy near overheating.

US Business News

  • U.S. Probes Role of GM Lawyers in Recall
    Federal prosecutors are looking at the role employees inside and outside of General Motors' legal department played in a delayed ignition-switch recall linked to 54 accidents and more than a dozen deaths.
  • No Knockoff Here. Meet China's New Gadgets
    In labs and startups across China, tinkerers with big dreams are pushing a new wave of innovation. They see smart gadgets as an opportunity to create a Chinese-designed product for a global audience.
  • Faced With Grisly Images, Twitter Walks Fine Line
    The social-media site scrambled to remove images of a U.S. journalist's beheading while maintaining its dedication to freedom of expression.
  • A Tiny Oil Platform, One Big Mystery
    A small oil facility off the coast of Africa appears to be sending lots of crude to Europe, raising questions by Nigerian and U.S. authorities about whether some of it is pilfered Nigerian crude.
  • Sears Eyes Balance Sheet Help
    Sears Holdings Corp. burned through more cash as its losses mounted in the second quarter, prompting the once venerable retailer to say it is weighing additional steps to shore up its balance sheet.
  • T-Mobile, Sprint Cut Prices
    A few weeks ago Sprint and T-Mobile were contemplating a merger, and now they are out to steal each other's customers.
  • Home Depot Taps Menear as CEO
    Home Depot named the head of its retail operations, Craig Menear, as the home-improvement retailer's new chief executive, to take over from Frank Blake in November.
  • Family Dollar Rejects Dollar General Bid
    Family Dollar rejected Dollar General's $9 billion cash offer, opting to stick with Dollar Tree's $8.5 billion cash-and-stock deal that is worth less but may have an easier time passing muster with antitrust regulators.
  • New Coffee Brewer Tests Keurig CEO's Recipe
    Keurig is rolling out a new version of its coffee brewer, marking the first major product launch under CEO Brian Kelley, who pressed his engineers to develop a machine that could brew both versions of its coffee pods.
  • Al Gore Had Doubts Over Sale to Al Jazeera
    Al Gore had "serious reservations" about selling Current TV to Al Jazeera but overcame them because he believed the U.S. was likely to influence the broadcaster and foster understanding, court papers say.
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