Business News

What You Need to Know About Apple Pay

11 mins ago - If you have an iPhone 6 or 6+, shopping just got a lot easier. Starting Monday, you can start using Apple Pay at more than 220,000 stores nationwide.

California Lottery Sales Top $5B for First Time

Posted: 10/19/2014 - California Lottery officials say they have had a winning year with annual ticket sales surpassing $5 billion for the first time in the state lottery's 30-year history.

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Economic News

  • China Growth Slowest in Five Years
    China’s economy grew at its slowest pace for five years in the third quarter, suggesting the government’s targeted easing measures to boost economic growth haven’t yielded expected results.
  • New York Fed Faulted on 'London Whale' Debacle
    The Federal Reserve Bank of New York failed to examine J.P. Morgan’s investment unit ahead of the bank’s 2012 “London Whale” trading debacle, according to a new report.
  • U.S. Existing-Home Sales Rise 2.4% in September
    U.S. home sales reached the highest level of the year in September, a sign of halting progress in the housing market that could lift the broader economy.
  • France Pressures Berlin for Stimulus Plan
    French ministers urged Germany to put in place a three-year, €50 billion stimulus program, deepening the confrontation over economic policy between Paris and Berlin.
  • Italian Minister Urges Patience on Economic Measures
    Italy’s Economy Minister Pier Carlo Padoan rebuffed criticism that the country is moving too slowly in liberalizing its economy, stressing that a mix of economic overhauls and budget measures recently unveiled by Rome could help boost growth by 2015.
  • Regulator: Pact With Lenders Could Expand Mortgage Access
    A top federal housing regulator in a speech Monday said Fannie Mae, Freddie Mac and lenders had reached an agreement in principle that could expand access to mortgages for many Americans.
  • Fed to Banks: Shape Up or Risk Breakup
    Federal Reserve officials told bank executives they must do more to curb excessive risk-taking and improve behavior at their firms or face stiff repercussions, including being broken into smaller pieces.
  • RBA Frets Over Housing Loans
    Australia’s central bank stressed the importance of maintaining rigorous standards on loans to property investors, reflecting its rising concern that speculators are dominating the housing market.
  • Despite Uncertainty, Fed Holds Steady
    The Fed is likely to end its bond-buying program this month even as market volatility and uncertainties about the global economy have rattled investors and led to some mixed messages from central-bank officials.
  • Pension Funds Eye Reducing Hedge-Fund Investments
    Pension-fund managers across the U.S. are rethinking their investments in hedge funds in the wake of a retreat by the California Public Employees’ Retirement System.

US Business News

  • IPhone 6 Recharges Apple's Growth
    Apple said its quarterly profit rose 13%, and it predicted record holiday sales, as strong demand for its new larger-screen iPhones helped to overcome sluggish iPad sales.
  • IBM Faces Another Overhaul
    IBM, two decades after successfully shifting its emphasis to software and computer services from hardware, is showing signs of needing another overhaul.
  • CVS Plays Hardball With Rival Drug Chains
    CVS is offering a prescription-drug plan that charges patients more if they buy their medications at pharmacies that sell tobacco products, a plan that could benefit the company’s own network of drugstores.
  • CEO of Oil Giant Total Dies in Plane Crash
    French oil company Total said Chairman and Chief Executive Christophe de Margerie died Monday in a plane crash at a Russian airport.
  • Coke to Cut Billions More in Costs
    Coke unveiled a broader cost-cutting program and warned it doesn’t expect to meet its previous financial targets as the beverage giant again posted lackluster soda volume and struggled with currency headwinds.
  • McDonald's Profit Plunges
    McDonald’s promised significant changes after reporting a worse-than-expected 30% drop in earnings on weakness in the U.S. and China and said its challenges were “more formidable than expected.”
  • Apple's iCloud Is Under Attack in China
    Apple’s iCloud service for users in mainland China has been hit by an attack that could allow perpetrators to intercept and see usernames, passwords and other personal data, activists and security analysts said.
  • How Big Data Is Tracking City Life
    Researchers are bringing big data into the public sphere, aiming to improve quality of life, save money, and understand cities in ways that weren’t possible only a few years ago.
  • Verizon Boosted by Tablet Growth
    Verizon said it added 1.52 million of its most lucrative long-term wireless contracts in the third quarter, again driven by a surge in tablet connections.
  • Sears Seeks New Cash Via Two Paths
    Sears is again turning to billionaire CEO Edward Lampert for funds, as the struggling retailer shores up its balance sheet ahead of the holiday season and seeks to reassure vendors worried about its health.
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