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ABC Business News
Son Gets $7M Lottery Ticket in Dad's Get-Well Card
Thu, 26 Mar 2015 08:52:44 -0400
A Pennsylvania man won a $7 million lottery prize after receiving the winning ticket in a get-well card from his father.
How the New Kraft Heinz Co. Is About to Take Over Your Kitchen
Wed, 25 Mar 2015 13:37:48 -0400
How the new Kraft Heinz Co. is about to take over your kitchen.
Former CFO on Food Stamps After Controversial Viral Video
Thu, 26 Mar 2015 12:57:25 -0400
A former CFO is now on food stamps after a video he posted on YouTube three years ago bashing Chik-Fil-A went viral and destroyed his career.
Yemen Weighs on Asian Shares, Data Highlights Japan Doldrums
Fri, 27 Mar 2015 02:25:37 -0400
Yemen conflict weighs on Asian stock markets as Tokyo index slips on weak data
Oil Council: Shale Won't Last, Arctic Drilling Needed Now
Fri, 27 Mar 2015 00:03:07 -0400
Despite low oil prices, recent mishaps, DOE advisory council pushes for Arctic drilling
Yemen Weighs on Asian Shares, Japan Gains on Stimulus Hopes
Thu, 26 Mar 2015 23:09:59 -0400
Yemen conflict weighs on Asian stock markets but Japan gains on stimulus hopes
Business Highlights
Thu, 26 Mar 2015 18:07:37 -0400
Business Highlights
Diet Sodas Fall in US; Pepsi Takes Back No. 2 Spot
Thu, 26 Mar 2015 18:06:34 -0400
Diet sodas drag down US soda's performance; Pepsi takes back No. 2 spot from Diet Coke
How Gov't Aims to Protect Low-Income Users of 'Payday' Loans
Thu, 26 Mar 2015 17:24:35 -0400
Federal regulators announce proposed rules to protect low-income borrowers
Oil Council: Shale Won't Last, Arctic Drilling Needed Now
Thu, 26 Mar 2015 17:04:56 -0400
Despite low oil prices, recent mishaps, DOE advisory council pushes for Arctic drilling
Lululemon and Red Hat Are Big Market Movers
Thu, 26 Mar 2015 16:58:49 -0400
Lululemon, Red Hat, SanDisk and Fred's are big market movers
How the Dow Jones Industrial Average Fared Thursday
Thu, 26 Mar 2015 16:55:06 -0400
How the Dow Jones industrial average and other major indexes fared on Thursday
Oil Prices Jump Almost 5 Percent as Tensions Mount in Yemen
Thu, 26 Mar 2015 16:17:23 -0400
Oil jumps almost 5 percent; Saudi Air strikes in Yemen lead to fears of supply disruptions
Watch: And the 'Beat' Goes On... for Apple
Thu, 26 Mar 2015 11:11:32 -0400
According to the New York Times, Apple is working with Beats in developing a music streaming service to take on industry leader, Spotify. The music streaming business hit $1.9 billion in revenue last year, topping CD sales for the first time.
Watch: Heinz, Kraft Foods Merge Into Food Giant
Wed, 25 Mar 2015 11:01:49 -0400
The Heinz and Kraft Foods merger creates a company producing a combined $28 billion in revenue. The deal was backed by Brazilian private equity firm 3G and billionaire Warren Buffett. The merger creates 5th largest food and beverage company in the world.
Watch: Shark Tank's Daymond John: 3 Pieces of Advice to Entrepreneurs
Tue, 24 Mar 2015 13:43:04 -0400
Rebecca Jarvis goes one-on-one with Daymond John at South By South West.
Watch: What Really Goes On At SXSW?
Tue, 24 Mar 2015 13:54:07 -0400
Rebecca Jarvis goes one-on-one with Thrillest CEO Ben Lerer.
Watch: This Festival Brings In Close To A Billion Dollars To This Tiny Town
Tue, 24 Mar 2015 12:58:00 -0400
Rebecca Jarvis takes a wild ride with Cyc at SXSW
Watch: Real Biz With RJ Goes to SXSW to See How This Once Itty-Bitty Festival Now Brings In Nearly $1 Billion Dollars To Austin, TX
Tue, 24 Mar 2015 14:22:28 -0400
Rebecca Jarvis takes us through downtown Austin for a taste of this sensory overloaded festival.
Watch: Oil Drillers Scrambling to Cut Costs
Tue, 24 Mar 2015 11:19:40 -0400
Oil production in the U.S. has risen an additional 4.5 million barrels a day since 2008, an amount which is more than any other OPEC member produces except Saudi Arabia. But lower global prices, and OPEC policy, is threatening U.S. oil production.
ABC Business News
MSNBC Business News
Feds Plan Payday Loan 'Debt Trap' Crackdown
Thu, 26 Mar 2015 17:56:23 GMT
America's top consumer regulator announced plans to lock down rules in the payday loan industry.
Retirees Face Drawdown Dilemma
Thu, 26 Mar 2015 17:29:38 GMT
Post-retirement planning is harder than ever.
How Was the Co-Pilot Left Alone at the Controls?
Thu, 26 Mar 2015 13:30:42 GMT
Many carriers require two members of the flight crew to be in the cockpit at all times.
Video Shows How to Access Airbus Cockpit in Emergency
Thu, 26 Mar 2015 13:04:44 GMT
Airbus educational video from 2002 shows the safety procedure for accessing a cockpit during an emergency.
FTC Regrets Release of Documents in Google Probe
Wed, 25 Mar 2015 22:14:00 GMT
The documents indicated that key staff members at the FTC were in favor of suing Google for allegedly breaking antitrust law.
What's Happening to Your U.S. Airways Miles on Saturday
Wed, 25 Mar 2015 19:53:29 GMT
The next step in the merger between U.S. Airways and American is getting the two frequent flier mile programs folded together.
The Scrimper's Guide to Boosting Your 401(k)
Wed, 25 Mar 2015 19:22:36 GMT
There are a few steps you can take now if your 401(k) account isn't where you want it to be.
Auto Title Loans Riskier Than Payday Loans, New Report Says
Wed, 25 Mar 2015 18:44:12 GMT
The auto title loan market is "plagued with problems," according to a new report from the Pew Charitable Trusts.
Feds Confirm Investigation Into Lumber Liquidators Flooring
Wed, 25 Mar 2015 17:30:18 GMT
The CPSC announced today that it has launched an investigation into the formaldehyde concerns around laminate flooring from Lumber Liquidators.
Facebook Unveils Customer-Service Feature for Messenger
Wed, 25 Mar 2015 16:56:25 GMT
Facebook says the service will cut down on email from retailers and streamline the customer-service experience.
How Much Are You Losing to 401(k) Fees?
Wed, 25 Mar 2015 15:57:24 GMT
The fees in a 401(k) may look small but can take a large chunk out of your investment over time.
Kraft-Heinz Merge to Form 5th-Largest Food Company
Wed, 25 Mar 2015 10:54:20 GMT
Kraft Foods Group Inc, the maker of Velveeta cheese and Oscar Mayer meats, will merge with ketchup maker H.J.
Amazon Blasts FAA for Slowness on Drone Regulations
Tue, 24 Mar 2015 20:15:31 GMT
The online retailer says the U.S. is falling behind other countries when it comes to realizing the economic potential of drone technology.
Google's Pony Express to Allow Bill Pay Via Email: Re/Code
Tue, 24 Mar 2015 19:59:38 GMT
Google's mission to organize the world's information is now targeting your physical mailbox.
Wyoming Ranked Best State to Retire
Tue, 24 Mar 2015 16:45:56 GMT
Your best bet for the ultimate retirement experience isn't Florida. To find the best states to retire, head west.
Taylor Swift Among Those Buying Up .Porn Suffixes
Tue, 24 Mar 2015 14:02:16 GMT
The singer Taylor Swift, Microsoft Corp. and Harvard University are among those buying up .porn and .adult Web suffixes as a pre-emptive move.
Funding Shortfalls Put Pensions in Peril
Tue, 24 Mar 2015 13:43:18 GMT
Underfunded pensions highlight a fraying social safety net.
Inmates Charged Fee After Leaving Jail
Tue, 24 Mar 2015 13:35:15 GMT
Human rights groups wants fees banned from prepaid debit cards used to return funds to prisoners upon release.
Credit Cards Get Smarter to Outwit Thieves
Mon, 23 Mar 2015 20:02:30 GMT
New chip and PIN technology is designed to protect card users. Kurt Gregory reports.
Liquor 2.0: There Is Now an App for Your Vodka Bottle
Mon, 23 Mar 2015 16:26:29 GMT
The California-based spirit company Medea Vodka is rolling out an app for its vodka.
MSNBC Business News
BBC Business News
Airlines change cockpit procedures
Thu, 26 Mar 2015 22:44:26 GMT
Airlines across the world have begun requiring two crew members to always be present in the cockpit, in the wake of the French Alps crash.
Japan economy at brink of deflation
Fri, 27 Mar 2015 05:10:14 GMT
Annual core consumer inflation in Japan, the world's third-largest economy, stopped rising for the first time in nearly two years in February.
MPs say watchdog created false market
Fri, 27 Mar 2015 05:25:03 GMT
Britain's financial regulator created a false market in shares of life insurers last year, MPs say in a report.
Asian shares up despite Japan data
Fri, 27 Mar 2015 02:28:27 GMT
Asian shares are higher despite weak economic data from Japan underlining the struggle policymakers face in reviving the world's third-largest economy.
Diet Coke loses its fizz in the US
Thu, 26 Mar 2015 22:35:58 GMT
Sales of Pepsi overtake Coca-Cola's sugar-free brand as consumers continue to move away from fizzy drinks.
Engineer sunk by Petrobras scandal
Thu, 26 Mar 2015 19:49:55 GMT
One of Brazil's biggest engineering companies, Galvao Engenharia, files for bankruptcy protection after Petrobras stopped payments.
Norwegian green energy to power UK
Thu, 26 Mar 2015 13:47:37 GMT
Green power from Norway will soon be powering hundreds of thousands of homes in Britain, National Grid says.
Oil firms to cut hundreds of jobs
Thu, 26 Mar 2015 19:00:17 GMT
Oil giants Shell and Taqa announce plans to cut hundreds of North Sea jobs, citing "challenging" times for the industry.
France cuts budget deficit target
Thu, 26 Mar 2015 10:59:31 GMT
France cuts its budget deficit target for this year and signals that the economic recovery is gathering pace.
Adidas unveils Europe factory plan
Thu, 26 Mar 2015 13:03:31 GMT
German sportswear firm Adidas outlines a turnaround plan that includes making some of its goods in Europe rather than Asia.
Financial risks prompt further action
Thu, 26 Mar 2015 16:24:11 GMT
Worries about the financial stability prompt Bank of England regulators to look into how fund managers would cope with a sudden withdrawal of cash.
FTSE slides 1.4% as oil prices jump
Thu, 26 Mar 2015 17:04:33 GMT
The London stock market falls as investors react to a jump in oil prices following airstrikes by Saudi Arabia on rebel targets in Yemen.
PayPal fined for illegal payments
Thu, 26 Mar 2015 15:34:53 GMT
PayPal agrees a £5.1m payout over allegations it allowed payments from accounts deemed enemies of the state by the US government.
Why are people so mean online?
Thu, 26 Mar 2015 00:06:36 GMT
Monica Lewinsky has made an impassioned public speech calling for people to be nicer online. So why do we continue to be so mean?
VIDEO: Japanese inflation grinds to a halt
Fri, 27 Mar 2015 02:38:29 GMT
February's figure was the first time that consumer prices had not risen for nearly two years - but people have more money in their pockets.
VIDEO: The predictive powers of fridges
Fri, 27 Mar 2015 00:22:24 GMT
What does your food shopping say about you?
VIDEO: 'Last bank in town' deal agreed
Thu, 26 Mar 2015 15:21:16 GMT
Banks must investigate alternative arrangements for customers before closing the last bank in town, under a new agreement.
VIDEO: Indonesia's rocketing rice prices
Thu, 26 Mar 2015 03:53:10 GMT
Indonesians are concerned about a recent spike in rice prices which the government is blaming on mark-ups by market traders.
VIDEO: Kraft and Heinz: a saucy combination
Thu, 26 Mar 2015 01:28:22 GMT
Heinz - best known for its tomato ketchup and baked beans - has agreed to merge with Kraft to create a global food giant.
VIDEO: The $10,000 bag made in the US
Wed, 25 Mar 2015 00:19:58 GMT
Steven Fischer, the creator of a $10,000 luxury leather bag, explains what inspired him.
BBC Business News
Yahoo Business News
Asian stocks mixed as Mideast worries linger, oil eases
Fri, 27 Mar 2015 02:05:29 -0400
Man walks past a stock quotation board outside a brokerage in TokyoSpreadbetters expected Britain's FTSE , Germany's DAX and France's CAC to tip toe higher while the markets awaited fresh cues from the Middle East. Crude oil prices were lower due to the dollar's bounce and as investors reassessed the potential impact of the escalating conflict in Yemen, where Saudi Arabia and allies carried out air strikes on Iranian-backed Houthi rebels on Thursday. Excluding the effect of last year's sales tax increase, data released on Friday showed Japan's core consumer price index was flat in February compared with a year ago. U.S. crude was down 2.1 percent at $50.33 a barrel after jumping 4.5 percent overnight because of the military action in Yemen.


Oil prices fall more than $1 as supply threat eases
Fri, 27 Mar 2015 00:29:27 -0400
A general view shows oil tanks at the Bashneft-Ufimsky refinery plant outside Ufa, BashkortostanOil prices fell more than $1 on Friday, after sharp gains in the previous session, as worries of a disruption to crude supplies due to Saudi Arabia-led air strikes in Yemen eased. Goldman Sachs said in note that the strikes in Yemen would have little effect on oil supplies as the country was only a small crude exporter and tankers could avoid passing its waters to reach their ports of destination. Brent crude was at $58.18 a barrel at 0421 GMT, down $1. Oil jumped around 5 percent on Thursday, the biggest daily gain in a month, as air strikes in Yemen by Saudi Arabia and its Gulf Arab allies sparked fears that escalation of the Middle East battle could disrupt world crude supplies.


Apple's Tim Cook will give away all his money: Fortune
Thu, 26 Mar 2015 19:27:19 -0400
Apple CEO Tim Cook shows the new MacBook during an Apple event in San FranciscoFortune magazine cited the head of the world's largest technology corporation as saying he planned to donate his estimated $785 million fortune to charity - after paying for his 10-year-old nephew's college education. "You want to be the pebble in the pond that creates the ripples for change," Cook told the magazine. Fortune estimated Cook's net worth, based on his holdings of Apple stock, at about $120 million. The 54-year-old CEO's revelation in Fortune's lengthy profile of him is an example of the increasingly public philanthropy of the world's richest people.


U.S. biotech stocks may fall further as short interest rises
Fri, 27 Mar 2015 01:09:27 -0400
Street signs for Wall St. and Broad St. hang at the corner outside the New York Stock ExchangeA 4 percent decline in biotechnology stocks on Wednesday sent the Nasdaq Composite Index to its largest one-day loss in nearly a year, and some investors are betting that the once-hot sector has further to fall. Short interest has risen in a number of biotech names perceived as vulnerable to a selloff after a rally that has sent the Nasdaq Biotechnology Index up 42 percent over the last year even after this week's declines. Overall, a screen of about 1,650 mid-cap U.S. companies shows biotech stocks, on average, have a short interest ratio of about 11.6 percent, compared with the average mid-cap name's 6.4 percent in short interest, according to Starmine, a Thomson Reuters company. Fund managers now have an average of 4.1 percent of their portfolios in biotechnology companies, nearly double the level of three years ago, according to Lipper data.


RadioShack rescue deal dogged by fights, demands for new auction
Thu, 26 Mar 2015 21:16:23 -0400
The exterior of a RadioShack store is seen in New YorkRadioShack Corp's rescue deal to keep 1,740 stores open was attacked on Thursday by the bankrupt retailer's top creditor, a failed bidder who called the auction a sham and sought a new sale. RadioShack, which filed for bankruptcy last month, told a U.S. Bankruptcy judge it had selected the Standard General hedge fund as the winning bidder in the private four-day auction, which ended just before Thursday's hearing. While RadioShack's attorney told the court the deal saved 7,500 jobs and was $23 million more than a bid by liquidators, the deal provided little cash. An attorney for Salus Capital Partners, which is owed $150 million and is RadioShack's largest creditor, blasted the auction process and called for the auction to be reopened.


Amid trial, Kleiner Perkins recruits next generation of partners
Thu, 26 Mar 2015 21:17:55 -0400
Ellen Pao leaves court as her sexual bias trial against fomer employer Kleiner Perkins Caufield & Byerr continues in San FranciscoFor the past month, the name most associated with venture capital firm Kleiner Perkins Caufield & Byers is former partner Ellen Pao, who took the firm to trial for gender discrimination and retaliation. Now the company is searching for new names, at a more intense level than is typical in venture capital, leaders who will take over the firm in coming years as current partners retire. “You can imagine that over the next 18-24 months we’ll be adding people to the firm,” said Mike Abbott, 42, one of the newest Kleiner partners, and himself a contender to one day take over the mantle of the firm from its current de facto leader, 63-year-old John Doerr. Once the dominant force in venture capital, backing Google and Amazon, Kleiner has delivered a more mixed record in the past several years.


Fed market gurus prep rate hike amid last-minute anxieties
Thu, 26 Mar 2015 21:36:47 -0400
The corner stone of The New York Federal Reserve Bank is seen in New York's financial districtThe New York Federal Reserve officials tasked with prying interest rates off the floor have been meeting with bankers and traders to plot how best to do it, amid deep uncertainty over how much control they will really have over short-term lending markets. With the U.S. central bank expected to raise rates later this year, Simon Potter and his team of market technicians have the tricky job of implementing higher rates using some new and lightly tested tools as well as some that may not work as well as in the past. The trouble is that the federal funds market, the intra-bank trading pool traditionally used by the Fed to meet its policy goals, has shrunk to about a quarter of its pre-crisis size after more than six years of unprecedented monetary stimulus. The Fed wants to avoid a scenario in which yields don't rise enough after it lifts the fed funds rate because banks, flush with $2.5 trillion of reserves parked at the central bank, don't need short-term funding.


South Korea sees gains for its infrastructure firms from joining AIIB
Fri, 27 Mar 2015 02:14:29 -0400
China's President Xi Jinping poses for photos with guests at the Asian Infrastructure Investment Bank launch ceremony at the Great Hall of the People in BeijingBy Christine Kim and Choonsik Yoo SEJONG, South Korea/SEOUL (Reuters) - South Korea hopes its infrastructure companies will benefit from the country joining the China-backed Asian Infrastructure Investment Bank (AIIB), the finance ministry said on Friday. Shares in some South Korean iron and steel products makers rose sharply, partly on hopes for new orders when the AIIB is operational and funding infrastructure projects, which is likely next year. "(The government) expects our companies to win many orders in areas such as communications, energy and transportation, where they have strength," Song In-chang, head of the finance ministry's international finance bureau, told reporters. Seoul announced on Thursday it would seek to join the AIIB as a founding member, the latest U.S. ally to do so despite Washington's misgivings.


American Apparel ex-CEO Charney seeks $40 million damages: Bloomberg
Thu, 26 Mar 2015 20:29:47 -0400
American Apparel owner Dov Charney speaks during a May Day rally protest march for immigrant rights, in downtown Los Angeles(Reuters) - American Apparel Inc's founder and former Chief Executive Officer Dov Charney is seeking $40 million in damages after he was fired from the post, Bloomberg reported on Thursday. Charney's claims include about $6 million in severance, $1.3 million in vacation-time pay, about $10 million for emotional distress and 13 million shares of the company, Bloomberg reported, citing a letter provided by Charney's lawyer, Keith Fink. The U.S. Securities and Exchange Commission has ordered an investigation into matters arising from the review by the board committee of American Apparel that formalized Charney's firing in December 2014, the fashion retailer said in a filing on Wednesday. American Apparel learned of the formal order of investigation on Feb. 5, but it was not immediately clear whether the probe related to Charney's conduct or to the board's review of him, according to the filing.


Google to pay CFO Porat more than $70 million in two years
Thu, 26 Mar 2015 18:26:41 -0400
A Google search page is reflected in sunglasses in this photo illustration taken in BrusselsThe company hired Morgan Stanley CFO Porat as its finance chief earlier this week, a sign it is aiming to rein in costs as it invests in new businesses such as self-driving cars and Internet-connected eyeglasses. Porat's compensation package includes a grant of $25 million through restricted stock units, a $40 million biennial grant in 2016 and a special one-time $5 million sign-on bonus, Google said in a regulatory filing on Thursday. Porat, who will join Google on May 26, will also get an annual base salary of $650,000. She earned a base salary of $1 million at Morgan Stanley for 2013, according to the bank's proxy filing.


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