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

  • Yellen Noncommittal on Rate Move
    Federal Reserve Chairwoman Janet Yellen pointed to an improving U.S. job market, but was noncommittal about how this progress would affect monetary policy.
  • 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.

US Business News

  • Amazon Preps a Challenge to Google
    Amazon is gearing up to challenge Google's dominance of the online advertising market, developing its own software for placing ads online that could leverage its knowledge of millions of Web shoppers.
  • Google Fiber Is Fast, but Is It Fair?
    Google's effort to provide faster Internet speeds at lower cost is changing how next-generation broadband is rolled out—while stirring debate about the "digital divide."
  • Dynegy to Buy Power Plant Assets
    Dynegy will nearly double its power-generating capacity when it buys 21 plants for $6.25 billion from Duke Energy and Energy Capital Partners.
  • Comparison Sites for Credit Cards Under Fire
    The mutually beneficial relationship between a number of card issuers and comparison sites has turned icy, with heated conversations between the parties, banks cutting off ties with some sites and, in one case, a lawsuit.
  • Recall 'Concierge' Schedules Repairs at Dealers
    With big auto-repair recalls by GM and Chrysler, new car dealers are scrambling to hire additional mechanics and in some cases are hiring staff just to organize appointments.
  • U.S. Regulator Approves GE-Powered 787-9 Jet
    U.S. air-safety officials have approved the new version of the Boeing 787 Dreamliner equipped with GE engines for commercial flights, with the first delivery of the jet expected as early as next week.
  • 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.
  • McDonald's Taps New U.S. Chief
    McDonald's is replacing the head of its U.S. business for the second time in less than two years, amid a lengthy period of flat or declining sales in its domestic market.
  • CNN Held Talks About Joint Venture With Glenn Beck's The Blaze
    CNN executives have held talks in recent weeks with representatives from Glenn Beck's The Blaze, a 24-hour news and entertainment network, about a potential joint venture to overhaul HLN, according to people familiar with the matter.
  • More Than 1,000 Businesses Affected by 'Backoff' Malware
    The Department of Homeland Security urges all companies to check for the possible malware infection, which targets cash registers.
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