Business News

Pink Scolari's in South Reno Closes

Posted: 1:24 PM - Scolari’s Food & Drug Company has closed its store, widely known as the pink Scolari's, at 8165 South Virginia Street in Reno.
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Japan Stocks Roar 5 Percent, Yen Falls On Stimulus

Posted: 10/30/2014 - Japan's Nikkei 225 stock average surged 5 percent and the yen slid against the dollar after the Bank of Japan unexpectedly announced new stimulus to boost a flagging economic recovery.

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Economic News

  • Wages Show Signs of Pickup, Just as Consumers Hiccup
    Workers are starting to see a little spring in their paychecks and benefits, just as consumer spending fell unexpectedly in September.
  • An Energy Plan Not Worth Changing Your Clock For
    Two academic studies rebut the idea that daylight saving reduces energy use, and one even concludes the policy increases demand for electricity.
  • Obama to Meet With Fed's Yellen on Monday
    President Barack Obama is scheduled to meet with Federal Reserve Chairwoman Janet Yellen on Monday to discuss the long-term outlook for the American economy and the global recovery, a White House official said.
  • U.S. Extends Solid Growth, Sidestepping Global Tumult
    The U.S. economy expanded at a healthy 3.5% annual pace during the third quarter, a sign of sustained growth fueled by government spending and a narrower trade deficit despite mounting concerns about the health of overseas economies.
  • BOJ Unexpectedly Eases Policy
    The Bank of Japan on Friday unexpectedly announced additional stimulus measures, bolstering its asset purchases for the first time in over a year and a half, as its 2% inflation target looks increasingly untenable.
  • Fed Closes Chapter on Easy Money
    The Federal Reserve said it would end its long-running bond-purchase program, concluding a historic experiment that stirred disagreement among policy makers, economists and investors about its impact.

US Business News

  • Virgin Galactic Spaceship Crashes, Killing One
    A Virgin Galactic rocket ship that was supposed to take the first space tourists next year—starting with billionaire entrepreneur and company founder Richard Branson—exploded during a test flight, killing one pilot.
  • FCC Broadband Plan: No One Loves It
    An emerging FCC plan to give the agency more authority to regulate traffic on broadband Internet networks is shaping up as the classic Washington compromise. No one loves the idea, and everyone is sure it will wind up in court.
  • Miner BHP Spurns Bigger Is Better
    BHP Billiton is the world’s largest mining company by market value with operations in 25 countries. So what’s one of the first things its chief executive advised his board when he joined: break it up.
  • Mexico Plans Broadband Overhaul
    Mexico’s planned construction of a $10 billion broadband network, with more than 20,000 antennas, could provide an alternative to Mexico’s dominant carrier, Telcel, which is owned by billionaire Carlos Slim.
  • Exxon, Chevron Post Strong Results
    Exxon and Chevron reported surprising profit growth, despite gloomy market conditions, boosted by their refining divisions that have lost favor with some smaller peers.
  • Samsung Asks Judge to Invalidate Microsoft Contract
    Samsung Electronics Ltd. asked a judge to declare invalid a contract under which the company paid Microsoft Corp. more than $1 billion last year, according to a court filing.
  • FedEx Freight Drivers at N.J. Terminal Vote to Join Teamsters
    A group of FedEx Freight drivers voted Friday to join a local Teamsters union, marking only the second time a group of the company’s U.S. drivers has done so, increasing pressure on the delivery giant.
  • Sony Posts Hefty Loss, But Hope Glimmers
    Sony posted a $1.2 billion loss after writing down the value of its struggling smartphone business, but strong PlayStation sales brightened up the quarter.
  • Nucor in Talks for Iron Ore Mine Stake
    Nucor is in talks to invest in Cliffs Natural Resources Bloom Lake iron ore mine in Canada.
  • U.S., Russia Drag on AB InBev Sales
    Anheuser-Busch InBev reported that weakness in the U.S., Russia and Ukraine weighed on sales volumes in the third quarter, even as cost cuts and strong sales elsewhere boosted profit.
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