Business

Business
10:16 am
Tue August 27, 2013

Latest Economic Signs Point To Slow, Steady Growth

A home construction site in Oceanside, Calif., earlier this month. Home prices continue to rise across the nation, though the pace appears to have slowed.
Mike Blake Reuters/Landov

Two key economic indicators — home prices and consumer confidence — both seem to signal that slow, steady economic growth lies ahead.

Tuesday's reports:

-- Confidence. The Conference Board's widely watched consumer confidence index increased only slightly in August, to 81.5 from 81 in July, the business research group says.

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Business
12:54 pm
Mon August 26, 2013

First Female Member Of New York Stock Exchange Dies

Muriel Siebert stands on the trading floor of her discount brokerage and underwriting firm in New York on May 9,1995. Siebert died Saturday in New York. She was 80.
Wyatt Counts AP

Originally published on Mon August 26, 2013 12:41 am

The first woman to buy a seat on the New York Stock Exchange and head one of its member firms has died.

Muriel "Mickie" Siebert died Saturday in New York at age 80, The New York Times reports. The cause was complications of cancer.

Here's more from The Times:

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AUGUST 2013
5:46 pm
Fri August 23, 2013

Social Security Rules and Strategies

Social Security
money.cnn.com

We often get questions about Social Security rules and strategies. Commonwealth Financial Network provides some excellent advice about when to apply for Social Security.  Don't miss it.  

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Business
8:58 am
Tue August 20, 2013

Samsung Under Fire For Alleged Brazil Labor Violations

A man holds up a Samsung S4 smartphone against a video screen. Samsung is accused of labor violations in Brazil, home to its largest manufacturing operation.
Dado Ruvic Reuters /Landov

Originally published on Tue August 20, 2013 9:15 am

We told you recently about new allegations of violations at three Chinese factories that make Apple's popular iPhones and iPads. Now, we have more allegations of labor violations – this time against Apple's main rival, Samsung, and its operations in Brazil.

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Business
2:46 pm
Mon August 19, 2013

The End Of Buttons: The New Gesture-Control Era

BlackBerry smartphones on a table during a "BlackBerry Brunch" in June in Berlin.
Timur Emek Getty Images

Originally published on Mon August 19, 2013 6:58 pm

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Business
2:56 am
Thu August 15, 2013

Pent-Up Demand Is Boosting Home Sales, But Can It Last?

Carpenters work on a housing site in Brandywine, Md., on May 31. Pent-up demand for homes could create jobs and help the struggling U.S. economy.
Gary Cameron Reuters/Landov

Originally published on Thu August 15, 2013 2:33 pm

Six years ago, the U.S. housing market plunged off a cliff. Now prices are bouncing back up — sharply in many markets.

That has some real estate analysts saying 2013 may mark the turning point — when pent-up demand will revive the housing sector and boost the broader economy.

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Business
3:08 am
Mon August 12, 2013

Too Much, Too Fast: China Sees Backlash From Massive Growth

Originally published on Mon August 12, 2013 11:25 am

At a time when much of the world is mired in economic torpor, China still enjoys enviable growth rates. Yet there's no question that its economy is growing more slowly these days.

Just ask Yan Liwei, a salesman for a construction materials company, who was visiting a park in Shanghai this weekend.

"The number of new construction projects is declining somewhat. It's taking longer for many of our clients to pay us what they owe," Liwei says. "Many small and midsized developers are feeling a cash crunch."

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Business
9:02 am
Tue August 6, 2013

Will 'The New York Times' Be Next To Be Sold?

The New York Times' front page on Tuesday.
NYTimes.com

Originally published on Tue August 6, 2013 10:26 am

After Monday's surprising news that Amazon.com founder Jeff Bezos is buying The Washington Post for $250 million — a deal that came just days after the Boston Globe was sold for $70 million to Boston Red Sox owner John Henry — a question naturally occurs:

Who's next?

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Business
3:30 am
Tue August 6, 2013

Ski Resorts Find Ways To Stay Busy When There's No Snow

In the summer, Snowmass ski resort in Colorado rents bikes instead of skis. It's an effort to create year-round revenue during a time when most ski resorts are closed.
Jeremy Swanson Aspen/Snowmass

Originally published on Tue August 6, 2013 10:50 am

With sizzling temperatures in much of the country, tourists are turning to mountain ski resorts to find relief. Resorts from Colorado to California and Oregon are on track to set a record this year for summer business.

Brandon Wilke is spending a long weekend at a resort just down the road from Aspen, Colo. He came for a wedding, but Wilke and his brother-in-law decided to bring their mountain bikes and try out some bike trails at the Snowmass ski resort. At first, Wilke says he didn't know mountain biking was an option.

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Business
9:03 am
Mon August 5, 2013

The New York Times Co. Agrees To Sell The Boston Globe

A man walks out of The Boston Globe headquarters on Feb. 20, the day The New York Times Co. said it planned to sell the paper.
Darren McCollester Getty Images

Originally published on Sat August 3, 2013 3:11 pm

The New York Times Co. has announced the sale of The Boston Globe to the principle owner of the Boston Red Sox for $70 million, a sum that represents a fraction of the $1.1 billion paid for the flagship newspaper two decades ago.

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Business
4:44 am
Sun August 4, 2013

Digital Seen Surpassing TV In Capturing Our Time

A study shows digital media consumption will surpass TV viewing for the first time this year.
iStockphoto.com

It's finally happening, folks. This year, the average time Americans spend with digital media each day will surpass traditional TV viewing time. That's according to eMarketer's latest estimate of media consumption among adults.

The average adult will spend more than five hours per day online and on non-voice mobile activities (read: texting, apps, games). That's compared to an average four hours and 31 minutes each day of TV watching.

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Business
3:17 am
Fri August 2, 2013

4 Reasons Why Millions Of Americans Are Leaving The Workforce

NPR

Originally published on Fri August 2, 2013 11:08 am

The unemployment rate only includes people who don't have jobs and are looking for work. A much larger swath of people — about 36 percent of U.S. adults — don't have jobs and aren't looking for work at all. That figure is higher than it's been in decades (and, conversely, the share of adults in the labor force — shown in the graph above — is lower than it's been in decades).

Here are four reasons why so many people are leaving the labor force.

1. They're retiring.

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Business
9:17 am
Wed July 31, 2013

U.S. Economy: GDP Surprises, And Hiring Rises In July

A chart shows the quarterly growth of real GDP in the United States. The U.S. economy expanded more than analysts had expected, at an annualized rate of 1.7 percent.
Bureau of Economic Analysis

Originally published on Wed July 31, 2013 2:51 pm

The U.S. economy grew by an annualized rate of 1.7 percent in the second quarter of 2013, according to gross domestic product data released Wednesday morning. The Commerce Department says the rise stems from business investments, particularly in buildings, and an upturn in exports and the civilian aircraft industry.

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Business
3:33 am
Wed July 31, 2013

Ford Taking America's Best-Selling Truck All 'Natural'

A version of Ford's flagship F-150 pickup truck that runs on natural gas.
Courtesy of Ford Motor Company

Originally published on Wed July 31, 2013 6:59 am

The reigning king in the truck world is the Ford F-150, and it's been that way for a couple of decades. But staying on top is getting harder.

With new, tougher fuel standards looming there is a lot of emphasis on efficiency and innovation. On Wednesday, Ford is announcing its flagship truck is taking a step into the alternative fuel world with a vehicle that can run on natural gas.

When you look at their bottom lines and their advertising you realize that the Detroit Three make cars, but they're really truck companies, especially Ford.

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Business
3:09 am
Wed July 31, 2013

Farm Laborers Get A Foothold With Their Own Organic Farms

Agricultural work, which is physically demanding, is also a risky business venture.
Kirk Siegler NPR

Originally published on Fri August 16, 2013 2:01 pm

Northern California's Salinas Valley is often dubbed America's salad bowl. Large growers there have long relied on thousands of seasonal workers from rural Mexico to pick lettuce, spinach and celery from sunrise to sunset. Many of these workers seem destined for a life in the fields. But a program that helps field workers, like Raul Murillo, start their own farms and businesses is starting to yield a few success stories.

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Business
3:32 am
Fri July 26, 2013

What A Falling Gold Price Means For Pawn Shops

Originally published on Fri July 26, 2013 11:45 am

William Roman wants to borrow money, but his bank won't lend him any more. So he's turning to his local pawn shop.

For Roman, a loan from the pawn shop is a lot easier to get. He doesn't have to fill out an application. The people at the pawn shop don't check his credit — all they want is something valuable, something they call sell if Roman doesn't pay them back.

"I've pawned laptops, PlayStations," says Roman. "If I'm not using it, then I'll just go and pawn it."

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Business
5:55 pm
Thu July 25, 2013

U.S. Carmakers Are Riding High, But Detroit May Not Feel It

Jeff Caldwell, a chassis assembly line supervisor, checks a vehicle on the assembly line at the Chrysler Jefferson North Assembly plant in Detroit on May 8.
Paul Sancya AP

Originally published on Thu July 25, 2013 7:19 pm

The news out of Detroit has been grim of late, but there are some bright spots coming from one corner of the Motor City. On Thursday, General Motors posted its 14th straight profitable quarter since emerging from bankruptcy. Ford announced its 16th consecutive profitable quarter Wednesday, and Chrysler is expected to offer good news soon as well.

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Business
12:14 pm
Thu July 25, 2013

The FDA Doesn't Want Chickens To Explore The Great Outdoors

Free-range chickens feed in a pasture on an organic farm in Illinois.
Seth Perlman AP

Originally published on Wed July 31, 2013 3:51 pm

Organic egg farmers are divided in their reaction to a new FDA proposal that's intended to reduce the risk of salmonella infection among free-roaming chickens. They even disagree about what the document, called "Guidance for Industry," actually requires.

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Business
4:28 pm
Mon July 22, 2013

Residents Forced To Live Without Landlines

Saltaire is one of the vacation villages on New York's Fire Island where Verizon has replaced copper landlines with home wireless connections.
Dan Bobkoff NPR

Originally published on Mon July 22, 2013 9:02 pm

Last fall, Hurricane Sandy damaged homes, buckled boardwalks and ruined much of the infrastructure of the small vacation spot of Fire Island, just off the coast of New York. The storm also destroyed many of the island's copper phone lines. But the island's only traditional phone company has no plans to replace them. Instead, Verizon is offering customers a little white box with an antenna it calls Voice Link.

"It has all the problems of a cellphone system, but none of the advantages," says Pat Briody, who has had a house on Fire Island for 40 years.

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Business
7:13 am
Fri July 19, 2013

Now That Detroit's Filed For Bankruptcy, What Happens Next?

A portion of downtown Detroit along the Detroit river.
Bill Pugliano Getty Images

Originally published on Fri July 19, 2013 12:59 pm

With its bankruptcy filing Thursday, Detroit became the largest municipality in the United States to seek Chapter 9 protection.

As Scott reported, the city is saddled with $18.5 billion in debt.

Today, we ask, what happens next?

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