Business

Business
4:14 am
Fri January 30, 2015

Russian Economic Woes Hit France's Ski Slopes

Russian tourists typically flock to the luxury ski resort of Megeve in the French Alps, but the weak ruble has kept them away this year.
Jean-Pierre Clatot AFP/Getty Images

Originally published on Fri January 30, 2015 11:16 am

Russia's worsening economy is having an impact far beyond its borders — even affecting Alpine ski resorts where Russians once flocked.

For the past decade, they've come in large numbers to ski the fabled Alpine slopes around Mont Blanc. But the drop in the ruble is now keeping them away. And that's having an effect on the wintertime economy in the region.

Read more
Business
4:14 am
Thu January 29, 2015

And So We Meet, Again: Why The Workday Is So Filled With Meetings

PW Illustration Ikon Images/Getty Images

Originally published on Thu January 29, 2015 8:46 am

The ouster of Bryan Stockton from his perch as CEO at Mattel this week came as the toymaker's best-known brands like Barbie stagnate and it loses business to Web-based games.

Stockton himself said last year that Mattel lacked an innovative culture and blamed it in part on something specific: bad meetings. That's a common and persistent corporate ailment.

Scott Ryan-Hart is a cartographer for the Ohio Department of Transportation, where a typical meeting can last more than two hours.

Read more
Business
5:03 am
Wed January 21, 2015

To Drive Economy Toward Equality, Obama Requests More Spending

President Obama delivers his State of the Union address to a joint session of Congress on Tuesday night.
Mandel Ngan AP

Originally published on Wed January 21, 2015 12:05 pm

President Obama revved up quickly for his economic victory lap.

"After a breakthrough year for America, our economy is growing and creating jobs at the fastest pace since 1999," President Obama said less than a minute into his State of the Union address Tuesday night.

The lap was fueled by cheap gas: "We are as free from the grip of foreign oil as we've been in almost 30 years," he said.

Democrats roared.

Read more
Business
3:21 am
Thu January 15, 2015

Businesses Try To Stave Off Brain Drain As Boomers Retire

Dave Tobelmann worked for 33 years at General Mills before retiring five years ago. Not long after, he returned to the company, this time through a staffing firm specializing in retiree placement.
Courtesy of Dave Tobelmann

Originally published on Mon January 19, 2015 8:02 pm

In the U.S., roughly 10,000 people reach retirement age every day. And though not everyone who turns 62 or 65 retires right away, enough do that some companies are trying to head off the problem.

Dave Tobelmann, who for 33 years developed new products for General Mills, retired five years ago at age 57 — around the same time as a number of other colleagues. "Yeah, I went to a lot of retirement parties," Tobelmann says.

Losing veteran workers is a challenge, even for big companies like General Mills.

Read more
Business
6:48 pm
Wed January 14, 2015

Dollar's Rise Is Good News For The U.S., For Now

A pedestrian passes a currency exchange in London Jan. 5. The value of the U.S. dollar has risen about 15 percent against the euro since last summer.
Andy Rain EPA/Landov

Originally published on Wed January 14, 2015 8:17 pm

If you've traveled outside the U.S. recently, or sent your U.S.-made products abroad, you've probably noticed that the dollar is getting stronger. The stronger dollar is the sign of a healthier U.S. economy, but its strength has the potential to erode growth.

There are a number of factors behind the dollar's rise, says economist Jens Nordvig, a currency expert at Nomura Securities. The main one is the health of the U.S. economy.

Read more
Business
6:32 pm
Tue January 13, 2015

Winning The Truck Battle Isn't Just About Smack Talk. It's Everything

Ford's F-150 truck beat the Chevrolet Colorado and Lincoln MKC as the Detroit auto show's 2015 North American Truck of the Year.
He Xianfeng Xinhua/Landov

Originally published on Wed January 14, 2015 4:25 am

For the Detroit automakers, there's likely no bigger prize than being the No. 1 truck. Pickups represent the lion's share of profits and the industry's recent growth.

Read more
Business
11:04 am
Mon January 5, 2015

Housing In 2015: Four Reasons For Optimism (And One For Worry)

A builder works on the construction of new homes in Belmar, N.J. Increased hiring and a boost in consumer confidence are expected to lift the housing market this year.
Mel Evans AP

Originally published on Mon January 5, 2015 12:43 pm

Six years ago, homebuilders and Realtors were facing brutal business conditions: millions of Americans were losing their jobs and homes.

As 2015 begins, hiring is strong and economic indicators are pointing up. Could this be the year when the housing market finally breaks out of its tepid recovery and takes off?

Economists see several reasons why 2015 might be a banner year for homebuying — and not just in San Francisco and Miami.

They also see One Big Factor that potentially could block a buying binge.

Read more
Business
10:55 am
Mon January 5, 2015

Why The Euro Fell To A 9-Year Low Against The Dollar

The euro sank to a nine-year low Monday as new doubts surfaced about Greece's commitment to the common currency bloc.
Markus Schreiber AP

Originally published on Mon January 5, 2015 12:22 pm

The euro fell today to a nine-year low against the dollar amid continuing doubts over Greece's future in the currency union and renewed prospects of monetary easing in the eurozone, the club of 19 EU countries that share the common currency.

The euro fell 1.2 percent against the dollar to $1.1864 — the lowest level since March 2006; it later recovered to $1.19370.

Here's why this is happening:

Read more
Business
5:21 am
Sat January 3, 2015

Tech Week: FBI Still Blames North Korea; App Encourages Sharing

Amid much speculation by private security analysts, the FBI stood by its claim this week that North Korea was responsible for the hack against Sony Pictures.
Damian Dovarganes AP

Originally published on Sat January 3, 2015 5:33 am

This week, the FBI stood firm on its claim that North Korea was responsible for the hack on Sony Pictures, even though independent cybersecurity experts have questioned the FBI's stance. We also looked at a new app that helps people share their stuff, and at Federal Communications Commission Chairman Tom Wheeler's handling of the net neutrality debate.

Read more
Business
12:42 am
Tue December 30, 2014

Plastic Bag Industry And Allies May Dispose Of California's Ban

A man carries plastic single-use bags past the State Capitol in Sacramento, Calif. Starting in July 2015, California could become the first state to ban single-use plastic bags, unless a referendum delays the measure from taking effect.
Rich Pedroncelli AP

Originally published on Wed December 31, 2014 12:45 pm

Last October, California Gov. Jerry Brown signed a law that would ban single-use plastic bags at grocery and convenience stores, and allow shops to sell customers environmentally-friendly bags for 10 cents. Senate Bill 270 was set to take effect in July 2015.

Read more
Business
6:51 pm
Mon December 29, 2014

Can't Pay Your Fines? Your License Could Be Taken

Desiree Seats, 23, lost her license for two years before she even got it because of an unpaid fine. Without a license, she couldn't find the jobs she needed to start earning money.
Joseph Shapiro NPR

Drive drunk, drive recklessly, and the state can suspend your driver's license. But many police and motor vehicle administrators worry about a recent trend: A large number of suspensions are for reasons that have nothing to do with unsafe driving.

These reasons include unpaid traffic tickets, falling behind on child support, getting caught with drugs, bouncing checks; or minor juvenile offenses like missing school, using false identification to buy alcohol, or shoplifting.

Read more
Business
10:02 am
Mon December 29, 2014

Looking To 2015, Economists See 5 Reasons To Celebrate

Target shoppers Kelly Foley (from left), Debbie Winslow and Ann Rich use a smartphone to look at a competitor's prices while shopping shortly after midnight on Black Friday, in South Portland, Maine.
Robert F. Bukaty AP

Originally published on Mon December 29, 2014 10:39 am

Each December, economists make predictions. And each new year, they get hit by unexpected events that make them look more clueless than prescient.

This year's bolt out of the blue was the plunge in oil's price, which no one saw coming.

Still, top economists' forecasts did get a lot right for 2014. One year ago, most were predicting healthy growth, tame inflation, low interest rates, rising stock prices and declining unemployment — and that's just what we got.

Read more
Business
9:12 am
Fri December 26, 2014

Possible Hack Of Sony, Microsoft Game Console Sites

Attendees walking past the Sony PlayStation booth at the Game Developers Conference in San Francisco in 2012. The PlayStation and Microsoft's Xbox consoles were experiencing a possible hack on their online sites.
Paul Sakuma AP

Originally published on Fri December 26, 2014 11:56 am

If you can't get your new Sony PlayStation or Microsoft Xbox online today, you can blame the Lizard Squad – or (indirectly) North Korea. Or maybe neither.

The Lizard Squad purports to be a group of hackers now claiming responsibility for a denial of service attack on the two game consoles' online sites.

Read more
Business
9:42 am
Tue December 23, 2014

U.S. Economy Grew At A 5 Percent Rate; Dow Surpasses 18,000

Originally published on Tue December 23, 2014 2:55 pm

The U.S. economy grew at a surprisingly fast 5 percent annual rate in the third quarter of 2014, up sharply from the 3.9 percent of the last revision. The figure blew past the consensus estimate of 4.3 percent put forth by economists surveyed by Bloomberg News.

It's the fastest the U.S. economy has grown in one quarter in more than a decade: The GDP grew at a 6.9 percent pace in the third quarter of 2003.

Update at 10:30 a.m. ET: Dow Tops 18,000 For First Time

Read more
Business
8:29 am
Mon December 22, 2014

The 5 Business Stories That Made 2014 A Memorable Year

James Franco (left) and Seth Rogen, stars of The Interview, arrive for the film's Los Angeles premiere on Dec. 11. The comedy about a CIA plot to assassinate North Korean leader Kim Jong Un was pulled from theaters after a cyberattack on Sony Pictures, the studio behind the film. The FBI said the attack was traced to the North Korean government.
Jim Ruymen UPI/Landov

Originally published on Mon December 22, 2014 8:47 am

As the year's end approaches, economists are looking back and assessing the news stories that shaped 2014.

Though their lists may vary, most analysts are pointing to five developments that had very big impacts on the U.S. economy. These were the biggies for 2014:

Oil Prices Plunge

No one saw this one coming. When 2014 began, a barrel of crude oil was selling for about $110. It hovered there until late spring, when the price ticked up to nearly $115.

Read more
Business
3:44 am
Mon December 22, 2014

Heating New England Homes: The Good And Bad News

Low heating oil prices mean New Englanders don't have to bundle up at home this year, but they will have to watch their rising electric bills.
iStockphoto

Originally published on Sun January 4, 2015 3:55 pm

Falling oil prices are perhaps nowhere more welcome than in northern New England, where most homes burn heating oil in their furnaces. But cheaper heating oil is refilling consumers' pockets just as high electric prices are emptying them out.

For example, a heating oil truck delivers 600 gallons of heating oil every two weeks to an old, four-story brick building in Concord, N.H. At last year's oil prices, each refill would have cost around $2,200. Right now, it's more than $300 cheaper.

Read more
Business
1:06 pm
Mon December 15, 2014

How The Gender Pay Gap Has Changed (And How It Hasn't)

Quoctrung Bui/NPR

Originally published on Mon December 15, 2014 10:53 am

The pay gap between men and women has been narrowing for decades. But it persists, and it gets larger as women move toward the middle of their careers.

In a recent paper, Harvard economist Claudia Goldin looked at the gap in a bunch of different ways — how it's changed over time, how it changes over the course of people's careers, and how it varies from industry to industry.

Read more
Business
10:52 am
Mon December 15, 2014

From Australia To France, Another Bad Day For Uber

.
Screenshot

Originally published on Mon December 15, 2014 2:37 pm

Uber's troubles are mounting. The ride-sharing service was criticized in Australia after its "surge pricing" kicked in, quadrupling fares for some customers trying to flee the area in Sydney where a gunman took hostages in a cafe.

Here's a screenshot that one customer sent to Mashable with details of the increased fare:

Read more
Business
5:11 am
Tue December 9, 2014

That Nest Egg Needs To Last As Long As You Do. So How Do You Start?

While people can often estimate how much they might need for 10 or 15 years of retirement, that calculation becomes more difficult for retirement that could last 20 years or more.
Gary Waters Ikon Images/Getty Images

Originally published on Fri January 2, 2015 5:47 pm

Retirement for baby boomers will look different than it did for their parents — Americans are living longer, health care costs more, fewer people have pensions today, and many people facing retirement haven't saved much.

All of that makes managing the nest egg you do have even more vital. But many people need and want guidance on what they should do to make sure their retirement savings last.

Read more
Chornyak & Associates
11:22 am
Mon December 8, 2014

News From Chornyak & Assoicates December, 2014: Winter Preparation Checklist

Commonwelath Financial Network warns us to avoid making the end of the year more stressful than it needs to be. By checking some items off your list earlier, you'll be free to focus on what's important during the holidays-spending time with family and friends.
 

Are you ready for colder weather and the end-of-the-year rush? Consider using some of these tips to help you save money and time as winter approaches.

Ready your home and car

Read more

Pages