Business News

Chicago Tribune (October 20, 2014)
Natural gas-fueled engines, touted as clean, low-cost alternatives to diesel, continue to struggle for acceptance in the U.S. transportation sector despite a surge in gas production that has sent the alternative fuel's domestic price plunging.
The Boston Globe (October 19, 2014)
Last month, eBay said it would divest its PayPal payments arm. EBay shares fell after the e-commerce company missed revenue expectations and handed in guidance that fell short of forecasts. Executives blamed some of the slowdown on the cyberattack reported in May. The company reported earnings of 68 cents a share, squeaking past estimates by a penny. But the firm posted sales of $4.35 billion, missing estimates of $4.37 billion. Meanwhile, eBay said it expects current quarter earnings of...
The Boston Globe (October 19, 2014)
Chief executive Jeffrey R. Immelt met with workers at a GE plant in Belfort, in eastern France in July. General Electric Co. stepped up its strategy of shedding businesses outside its industrial core during its third quarter. It spun off its North American consumer finance unit, Synchrony Financial, in an initial public offering, and agreed to sell its consumer appliances business to Electrolux for $3.3 billion.
The Boston Globe (October 20, 2014)
TOKYO — A group of investors is planning to bid about $2.2 billion for Adidas AG's Reebok unit, which is based in Canton, Mass., the Wall Street Journal said Sunday, citing people familiar with the matter.
St. Louis Post-Dispatch (Missouri) (October 15, 2014)
Macy's plans to open at 6 p.m. on Thanksgiving Day, two hours earlier than last year, suggesting that Black Friday is creeping ever-earlier into the once-sacrosanct holiday. Macy's said in a statement Tuesday that the earlier opening is "in response to the significant, sustained customer interest in last year's opening on Thanksgiving, both at Macy's and other retailers." The department store chain, which has 840 stores, had resisted the trend of opening on Thanksgiving until last year, when it...
St. Louis Post-Dispatch (Missouri) (October 15, 2014)
NEW YORK • Citigroup customers across Central America and parts of Eastern Europe will be looking for a new place to bank next year. Citigroup said Tuesday that it will bow out of the retail banking business in 11 countries, part of its ongoing effort since the financial crisis to slim down. The news came as the bank announced third-quarter earnings.
USA TODAY (October 20, 2014)
Investors head into the new trading week a lot less fearful and a lot less poorer -- but still a bit on edge -- after the stock market recouped most of its big losses with a strong rebound rally Friday that capped off another turbulent week on Wall Street.
The New York Times (October 19, 2014)
Vincent Bolloré, one of France's richest men, is seeking majority control of the Havas advertising group in an all-share offer for which the company's board has expressed support.
The Boston Globe (October 17, 2014)
Netflix is the largest Internet video service provider. Slower subscriber growth and fears of increased competition ahead hammered Netflix stock. The service added 3 million subscribers worldwide in the three months ended in September, short of its projection for 3.7 million more. Netflix added about 1 million US subscribers, missing its target of 1.3 million. Netflix said a recent $1 per month US price hike for new customers, a 13 percent increase, is the cause. Adding to its woes: HBO will...
The Boston Globe (October 17, 2014)
EMC faces pressure from Elliott Management to split off VMware; it owns 2.2 percent of EMC, which owns 80 percent of VMware. Hewlett-Packard Co. may be ending its merger negotiations with EMC Corp., the Hopkinton data-storage giant. Reports have been circulating for months that the companies are exploring a merger. But citing anonymous sources, Reuters said the talks are dead, with price a major issue. Meanwhile, HP has resumed buying back its shares. That probably signals HP has ended its...
The Boston Globe (October 17, 2014)
GENEVA — Roche Holding AG posted flat sales for the first nine months of 2014, but the results show strong demand for its cancer drugs and new products, the Swiss drug maker said Thursday.
The Boston Globe (October 17, 2014)
Google Inc. is still pulling in money hand over fist, but in its latest earnings report Thursday there were signs that its ultraprofitable business in search advertising was starting to slow.
The Boston Globe (October 17, 2014)
NEW YORK — Amazon is hiring 80,000 seasonal workers for its distribution centers as it looks to improve its shipping efficiency during the holidays — a 14 percent increase over last year's hiring of 70,000 workers.
Chicago Tribune (October 17, 2014)
Baxter International said Thursday its earnings slipped in the third quarter despite improved sales, in part because of costs associated with the company's planned separation of its bioscience unit early next year.
USA TODAY (October 17, 2014)
Investment banking giant Goldman Sachs beat Wall Street expectations Thursday, reporting far higher than forecast third-quarter earnings and revenue. But shares of New York-based Goldman nonetheless fell as the bank also reported some quarterly financial measures slipped from results earlier in the year.
USA TODAY (October 17, 2014)
Google's third-quarter revenue rose 20% but fell below Wall Street expectations as growth in the technology giant's core advertising business slowed and expenses continued to rise.
USA TODAY (October 17, 2014)
Apple offered few surprises but plenty of new hardware and software on Thursday. The company filled out its product line with two new iPads, a 27-inch iMac with eye-popping Retina display and Yosemite, Apple's latest desktop operating system. The 90-minute event at Apple's headquarters here was a subdued encore to the Sept. 9 mega-launch of the iPhone 6 and 6 Plus, Apple Watch and Apple Pay. But it also served as a sequel of sorts: Apple CEO Tim Cook said Apple's new payment service, Apple Pay,...
USA TODAY (October 17, 2014)
Growing concerns about the Ebola virus do not appear to be discouraging travelers from flying, Delta Air Lines executives said Thursday. "We monitor it on a daily basis, and we have not seen any changes in the booking trends," said Glen Hauenstein, the airline's chief revenue officer, during a conference call with investors about Delta's third-quarter earnings results.
USA TODAY (October 17, 2014)
The board of U.S. biopharmaceutical firm AbbVie is recommending shareholders abandon plans to pursue a tax-cutting re-incorporation overseas, bowing to new Washington rules designed to make such deals less profitable.
The Seattle Times (October 16, 2014)
To meet the demand for holiday orders, Amazon.com plans to hire 80,000 seasonal workers in the United States this holiday season, up 14 percent from a year ago.
The New York Times (October 17, 2014)
Updated, 6:08 p.m. | A bout of market volatility rattled traders' nerves on Wednesday. But the Blackstone Group is looking for ways to profit from the turmoil. Blackstone, the largest firm that invests in private equity, offered that investment outlook on Thursday while reporting higher profit for the third quarter. The firm said its economic net income -- a measure of profit that includes unrealized investment gains -- was $758.4 million, 18 percent higher than in the third quarter of...
The New York Times (October 17, 2014)
City and state officials are negotiating with JPMorgan Chase over a potential deal in which the nation's largest bank would build a vast $6.5 billion corporate campus with two high-rise towers in the new commercial district on the Far West Side of Manhattan. The talks, which involve one of the largest real estate complexes for a single company in New York City history and a large package of incentives for Chase, have reached a feverish state after nearly falling apart this week. The...
The Washington Post (October 17, 2014)
Barbie may still have Ken and her Dream House, but she's struggling to hang on to the thing she needs most: her fan base. Toymaker Mattel reported Thursday that the Barbie brand had a staggering 21 percent decline in sales during the third quarter, compared with the period last year. The slide came on the heels of two rough quarters in which Barbie sales decreased by at least 14 percent in each.
The Washington Post (October 17, 2014)
Domino's Pizza and Pizza Hut are the titans of the $38 billion U.S. pizza market, and at this moment, one chain is piping hot and the other is in need of reheating. Domino's dazzled investors this week with third-quarter results that showed sales at stores open at least a year grew 7.7 percent in the United States and profits jumped 8 percent. The chain, which has 5,000 restaurants in the U.S., also said it attracted more customers and saw the average size of their tabs increase. But things at...
The Star-Ledger (Newark, New Jersey) (October 16, 2014)
Auto industry Toyota Motor Corp. made its fourth global recall involving more than a million vehicles this year, as the world's largest automaker begins operating with stricter supervision over safety from U.S. regulators. The carmaker is calling back 1.75 million vehicles, including 759,000 Toyota and Lexus sedans to repair fuel pipes that could leak and raise fire risks. While the automaker may accrue hundreds of millions of dollars to pay for the recall, "the cash risk will be much less"...
Last Updated: 2014-10-20 @17:30
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