| ABC Business News |
| Photos: A-Rod Sells Home for $30 Million |
| Sat, 25 May 2013 17:03:30 GMT |
The New York Yankees third baseman sold his home in Miami Beach on Friday morning, according to ESPN.com reported. The home sold for $30 million and is one of the highest purchase prices for a home in Miami. It was previously listed for $38 million. A nearby home in a private island in Miami-Dade County sold for a record-breaking $47 million in Aug. 2012. In 2010, he bought 54,000-square feet of land for $7.4 million and spent millions building the 20,000-square-foot home that his own construction company, Newport Property Construction, built in 11 months. Rodriguez has earned about $360 million to date in salary alone, more than any U.S. major sports athlete in history. The home has nine bedrooms and 11 bathrooms. Glass windows in the home's rear adjust allowing someone to walk directly outside.   |
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| Girl Who Scolded McDonald's CEO Not Impressed |
| Sat, 25 May 2013 15:11:49 GMT |
Hannah Robertson, the 9-year-old girl who grilled Don Thompson, the CEO of McDonald's Corp., at a shareholder meeting for marketing fast food to children said she wasn't impressed with his response.   |
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| McDonald's CEO Scolded By 9-Year-Old |
| Sat, 25 May 2013 03:57:38 GMT |
Don Thompson may be CEO, director and president of McDonald's Corp., but he still has to answer to a nine-year old girl who accuses the fast food giant of trying to "trick kids into eating food that isn't good for them."   |
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| How Credit Scores Predict Your Behavior |
| Fri, 24 May 2013 21:42:23 GMT |
Credit scores, as with most attempts to make sense of our world, operate on the assumption that the near future will look a lot like the recent past, and that going forward, people can be expected to behave pretty much as they always have. |
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| Best Memorial Day Weekend Sales |
| Fri, 24 May 2013 16:39:32 GMT |
Memorial Weekend sales at some national retailers have started as early as Tuesday, so shoppers may want to find what they are looking earlier than later, according to Thayer Meicler, co-founder of the free location-based app SaleSorter.   |
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| 'Big Gas' Ad Is Kmart's Latest Promotion to Play on Words |
| Fri, 24 May 2013 12:19:26 GMT |
Kmart’s new ad is a gas. Literally. In its new tongue-in-cheek ad “Big Gas,” the retailer promotes a special discount on gas. Throughout the spot, customers praise the “big gas” savings and “big gas” prices, but their repeated, rapid use of the phrase makes it...   |
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| Kid to McDonald's: Stop Tricking Us |
| Fri, 24 May 2013 12:03:56 GMT |
Morning Business Memo… A 9 year-old girl has chewed out the top executive at McDonald’s for “tricking kids into eating your food.” The rare confrontation happened as CEO Don Thompson answered shareholders’ questions at the fast food company’s annual meeting in Oak Brook, Ill., Thursday....   |
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| Photos: Katy Perry's Hollywood Home |
| Fri, 24 May 2013 11:55:28 GMT |
Katy Perry has reported bought three adjoining pieces of property for $11.2 million, according to The Real Estalker blog, one of which holds a modern home previously owned by Conan O'Brien's band leader Max Weinberg. The Weinberg home was purchased for $3 million by a trust held by Katy Perry's manager. Built in 1953, the home has 5 bedrooms and 3 bathrooms.   |
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| Cheaper, Store-Brand Sunscreens Offer Better Protection |
| Thu, 23 May 2013 22:38:55 GMT |
You might think that a costly sunblock would be better at blocking UVA and UVB rays than a store brand at, say, Walgreens. However, according to Consumer Reports’ annual sun survey, that’s wrong. In tests of 12 sunscreen lotions and sprays to gauge their effectiveness...   |
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| New Home Sales Rise, Jobless Claims Drop |
| Thu, 23 May 2013 19:02:55 GMT |
Sales of new homes rose in April rose nearly 30 percent compared with a year ago, according a to a report by the Commerce Department. This is the latest evidence of a recovering housing market, six years after the housing bubble burst leading to a...   |
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| Bars Accused of Booze Fraud, Serving Rubbing Alcohol |
| Thu, 23 May 2013 17:49:25 GMT |
New Jersey investigators are investigating 29 establishments for serving customers cheaper booze as a substitute for top-shelf liquor, including one that allegedly offered rubbing alcohol and food coloring as scotch. “This alleged scheme is a dishonest ruse to increase profits, and it is a slap...   |
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| Borders Card Holders Left With Squat |
| Thu, 23 May 2013 15:44:25 GMT |
A judge ruled on Wednesday that customers who hold $210.5 million in gift cards from the defunct Borders chain aren’t eligible for refunds. About 17.7 million gift cards were outstanding when Borders began liquidating its stores in July 2011 after failing to attract offers for...   |
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| Photos: Ellen Buys $26.5M Home |
| Thu, 23 May 2013 14:55:35 GMT |
Talk show host Ellen DeGeneres and wife Portia de Rossi have reportedly picked up another property -- this time in Montecito, Calif. The real-estate happy couple bought the home for $26.5 million, according to TMZ. On 13 acres with ocean views, the home has six bedrooms and nine fireplaces. With a horse ranch still in tow, the couple sold their home in Malibu last year that previously belonged to actor Brad Pitt.   |
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| Global Stocks Plunge After Japan Selloff |
| Thu, 23 May 2013 12:08:24 GMT |
Morning Business Memo… Wall Street may be in for a wild ride today after a sharp retreat for stocks in Japan. US stock futures dropped after the Nikkei index in Tokyo plunged 7.3 percent overnight, its worst one-day loss in more than two years. Global...   |
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| Nearly Free Electric Car Leases in a State Near You? |
| Thu, 23 May 2013 10:00:27 GMT |
Accustomed to their gas-guzzling companions, many Americans are hesitant to buy an electric or hybrid vehicle. But dealers and government incentives are luring drivers into the fold. John O’Dell, senior green car editor for Edmunds.com, has leased a Nissan Leaf with his wife for the...   |
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| Top 10 Highest-Paid CEOs |
| Wed, 22 May 2013 20:28:44 GMT |
Leslie Moonves, who was paid $60 million, is the highest-paid CEO of S&P 500 companies with chief executives who have served at least two full years.   |
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| MSNBC Business News |
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| BBC Business News |
| Co-op halts new business lending |
| Fri, 24 May 2013 14:40:10 GMT |
| Co-operative Bank has stopped offering new business loans amid concerns over its capital position and talks with UK regulators. |
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| Germany reports sluggish growth |
| Fri, 24 May 2013 08:53:22 GMT |
| Germany's economy barely grew in the first quarter of the year, figures show, as private consumption helped offset shrinking exports and investment. |
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| IMF chief Lagarde made key witness |
| Fri, 24 May 2013 20:28:18 GMT |
| A French court does not place IMF head Christine Lagarde under investigation over a payout made when she was finance minister, making her a key witness instead. |
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| Manchester United cuts debt costs |
| Fri, 24 May 2013 08:07:21 GMT |
| Manchester United has struck a new loan deal to cut the amount of interest it pays on its huge debts. |
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| London Market Report |
| Fri, 24 May 2013 16:05:39 GMT |
| London's leading shares lose further ground in Friday trading, extending Thursday's global sell-off. |
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| Second RBS apology for app glitch |
| Fri, 24 May 2013 12:02:38 GMT |
| RBS has apologised for the second time in two months after customers were unable to login to their accounts through their mobile phone app. |
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| Restarted direct debits investigated |
| Sat, 25 May 2013 07:18:22 GMT |
| The information commissioner is seeking answers from a firm that has reactivated its former customers' old direct debits without their permission. |
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| Poor countries take on tax avoiders |
| Thu, 23 May 2013 23:02:46 GMT |
| Developing countries are trying to stop mining companies shifting billions of dollars in profits out of their countries, depriving them of much-needed tax revenue. |
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| Euro bank chief sees UK improvements |
| Thu, 23 May 2013 22:04:57 GMT |
| European Central Bank president Mario Draghi, visiting London's City district, says he sees "signs of tangible improvements" in the UK economy. |
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| News Corp to split in two on 28 June |
| Fri, 24 May 2013 15:21:38 GMT |
| News Corp announces it will officially split its publishing and entertainment businesses on 28 June, two years after the UK phone-hacking scandal involving the News of the World. |
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| Amazon reveals fan fiction platform |
| Fri, 24 May 2013 11:41:33 GMT |
| Fan fiction authors will be able to publish and sell some titles in the US via new e-book platform Kindle Worlds. |
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| Low rates 'fail to deter savers' |
| Fri, 24 May 2013 10:46:34 GMT |
| A lack of confidence among consumers has pushed up savings levels in the last year despite the low rates of interest available, banks say. |
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| Latam 'gang of four' scrap tariffs |
| Thu, 23 May 2013 23:00:37 GMT |
| Four countries in Latin America - Chile, Colombia, Mexico and Peru - have agreed to scrap most of the tariffs on trade between their four countries. |
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| Tata Steel swings to a loss |
| Thu, 23 May 2013 15:12:14 GMT |
| Tata Steel, one of the world's biggest steelmakers, blames weakness in Europe for a net loss in the fourth quarter and says "severely depressed" conditions are likely to persist. |
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| French court questions IMF chief |
| Thu, 23 May 2013 19:45:01 GMT |
| IMF chief Christine Lagarde is grilled by judges in Paris over a big payout to a tycoon when she was French finance minister. |
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| Tuition fee 'could be cut to £6,000' |
| Thu, 23 May 2013 01:01:54 GMT |
| Tuition fees in England could be limited to £6,000 per year and remain cost-neutral to universities and the Treasury, research suggests. |
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| JP Morgan fined £3m for failings |
| Thu, 23 May 2013 12:48:54 GMT |
| JP Morgan's international bank division has been fined £3m by the Financial Conduct Authority for failures in client advice and record-keeping. |
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| Couple's £163,000 phone bill shock |
| Wed, 22 May 2013 11:55:08 GMT |
| A couple who own an electrical firm had a shock when they received a mobile phone bill for £163,000, then fought for months to have the debt cleared. |
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| UK first quarter growth unchanged |
| Thu, 23 May 2013 10:46:10 GMT |
| The UK's economy grew at 0.3% in the first three months of the year, official figures confirm, but concerns remain over the strength of the recovery. |
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| Blackstone notifies Cohen's SAC it intends to pull money: pension consultant |
| Sat, 25 May 2013 13:10:28 -0400 |
 By Matthew Goldstein (Reuters) - Billionaire hedge fund manager Steven A. Cohen is losing the financial support of Blackstone Group Inc, the largest outside investor in his embattled SAC Capital Advisors, which is yanking much of its client money, according to a letter reviewed by Reuters. A pension consultant, in a May 21 letter to clients, said Blackstone has notified Cohen that it intends to "fully redeem" a significant portion of the roughly $550 million the investment firm has invested with the $15 billion hedge fund. ...
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| News Corp to take charge of up to $1.4 billion this quarter |
| Fri, 24 May 2013 21:22:12 -0400 |
 By Jennifer Saba (Reuters) - News Corp said on Friday it will write down the value of its Australian and U.S. publishing assets by up to $1.4 billion, as the company prepares to split its business between its newspaper and entertainment operations. The company said the goodwill impairment charge was primarily for its Australia newspapers though it gave no more details. It also said it expected reduced cash flows in the future. The charge will be taken in the quarter ending June 30 and could effectively wipe out News Corp's profit. ...
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| Lobbying in American-US Airways deal focuses on small cities |
| Fri, 24 May 2013 21:20:20 -0400 |
 By Karen Jacobs (Reuters) - US Airways Group and American Airlines , seeking approval for a merger that would create the world's largest airline, are warning lawmakers that a requirement to divest certain airport slots would lead to less service for small and medium-sized cities, sources close to the effort told Reuters. The airlines may be required to shed slots Washington's Reagan National Airport to prevent market domination. There is concern that those slots could go to rivals, such as JetBlue Airways , which would likely use them for flights to major cities. ...
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| Exclusive: In surprise, General Growth eyes New York office tower |
| Fri, 24 May 2013 19:27:35 -0400 |
 By Ilaina Jonas NEW YORK (Reuters) - General Growth Properties Inc has paired with Brookfield Office Properties Inc to bid for an expensive New York building in what could mark the No. 2 U.S. mall owner's entry into a new segment of the retail real estate market, according to two sources familiar with the deal. Bids for the 27-story office and retail building at 650 Madison Avenue, one of the toniest shopping and office districts in Manhattan, could exceed $1.3 billion, the sources said. Other bidders include Vornado Realty Trust , one of the sources said. ...
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| Visa, Mastercard ask U.S. court to declare card fees are lawful |
| Fri, 24 May 2013 17:40:08 -0400 |
 By Jessica Dye NEW YORK (Reuters) - Visa Inc and MasterCard Inc, opening another front in an eight-year battle over credit card fees paid by retailers, on Friday asked a federal judge to declare that the fees do not violate antitrust law. The lawsuit seeks to give the card companies legal ammunition against some retailers who are trying to opt out a proposed settlement under which they would receive a share of $7.2 billion in cash and fee discounts from the card companies. ...
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| Yahoo joins growing list of bidders for Hulu: sources |
| Fri, 24 May 2013 16:19:18 -0400 |
 By Ronald Grover and Greg Roumeliotis LOS ANGELES/NEW YORK (Reuters) - Yahoo Inc has submitted a formal proposal to buy Hulu, joining a growing list of bidders for the video service owned by News Corp and Walt Disney Co, two sources with knowledge of the bid told Reuters on Friday. Yahoo just this week announced a $1.1 billion acquisition of blogging service Tumblr. It now joins rival bidders for Hulu, including Time Warner Cable Inc, DirecTV, former News Corp president Peter Chernin and Guggenheim Digital Media, sources have said. It is unclear how much the Internet company bid. ...
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| Chinese premier criticizes EU move on trade measures |
| Fri, 24 May 2013 22:57:01 -0400 |
 SHANGHAI (Reuters) - Chinese Premier Li Keqiang criticized the European Union over its plans to investigate alleged anti-competitive behavior by Chinese mobile telecom equipment makers and to impose punitive import duties on solar panels from China, state media reported. The official Xinhua news agency reported late on Friday that Li had told business leaders in Switzerland such measures would "harm others without benefiting oneself". Li is the most senior Chinese official to comment on the troublesome issue so far. ...
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| Ex-Virginia bank executives guilty in financial crisis case |
| Fri, 24 May 2013 19:46:42 -0400 |
| (Reuters) - The former chief executive of a failed U.S. bank in Norfolk, Virginia, and three others were convicted Friday of conspiracy to commit bank fraud and other charges in connection with a scheme to conceal loan losses that contributed to the bank's collapse in 2011. Edward Woodard, the former chief executive of Bank of the Commonwealth, was found guilty along with two other executives by a federal jury in Norfolk following a multi-week trial, the U.S. Justice Department said. Federal prosecutors are pursuing several cases stemming from the U.S. ... |
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| U.S. audit regulator reaches deal with China on document access |
| Fri, 24 May 2013 16:29:35 -0400 |
| By Dena Aubin and Sarah N. Lynch NEW YORK (Reuters) - U.S. regulators will get access to Chinese companies' audit documents under a deal announced on Friday, opening the way to probes of bungled audits after a two-year stand-off between China and the United States. The nonbinding deal is only a partial victory for the United States, which has been blocked from investigating accounting scandals at dozens of Chinese companies listed on U.S. stock exchanges. It applies only to enforcement cases against auditors, not against China-based companies suspected of accounting fraud. ... |
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| Protesters across globe rally against Monsanto |
| Sat, 25 May 2013 23:49:25 -0400 |
 LOS ANGELES (AP) — Protesters rallied in dozens of cities Saturday as part of a global protest against seed giant Monsanto and the genetically modified food it produces, organizers said.
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