All Latest News Wires
Uber, learning from Sandy, caps surge pricing during blizzardUber has capped how much prices can rise in US cities during disasters or emergencies, after facing criticism for jacking up prices at times of high demand. In New York City, Uber surge pricing will be capped at 2.8 times — nearly triple — the normal fare.
Bitcoin: Can US exchange revive the ailing currency?Bitcoin prices rose sharply on Monday with news that the US is set to have its first regulated exchange, called Lunar. Bitcoin is renowned for its volatility and has been heavily criticized for facilitating illegal activity, given that it can be used anonymously.
Mattel CEO resigns as Barbie struggles for relevanceMattel Chairman and CEO Bryan Stockton has resigned after the toy maker reported fourth-quarter results that fell far short of analyst expectations. Mattel has struggled for several quarters now with slumping sales of its iconic Barbie dolls.
SkyMall files for bankruptcy. Farewell, USB cuff links.SkyMall, has filed for bankruptcy, according to a court filing on Friday. once the sole catalog provider for airline passengers, SkyMall has faced increased competition from e-commerce providers, such as Amazon and eBay.
McDonald's fights to win back customers as sales fallMcDonald's reported falling earnings and sales for its fourth quarter on Friday as customers dwindled worldwide. In hopes of changing negative perceptions about its food, McDonald's recently invited customers to ask questions about its ingredients and sourcing and launched a new marketing campaign.
Jobless claims off 7-month high, but oil layoffs a concernJobless claims for state unemployment benefits slipped 10,000 to a seasonally adjusted 307,000 for the week ended Jan. 17, the Labor Department said on Thursday.
Was Denver baker required to write anti-gay message on cake?Marjorie Silva, owner of Denver's Azucar Bakery, is facing a complaint from a customer alleging she discriminated against his religious beliefs when refusing to write hateful words about gays on a Bible-shaped cake.
EBay cuts 2,400 jobs ahead of PayPal spin offThough eBay saw a fourth-quarter net income increase of 10 percent, the e-commerce company announced plans to cut 2,400 jobs across its marketplaces. EBay plans to spin off its payments business PayPal later this year.
Netflix (NFLX) shares soar after blockbuster Q4 earnings reportNetflix (NFLX) reported earnings that easily beat expectations, sending shares soaring in after-hours trading. Netflix posted an adjusted profit of 72 cents per share. Analysts had expected Netflix to report earnings of about 45 cents per share on $1.48 billion in revenue.
US single-family housing starts surge to six-year highHousing starts for single-family homes rose in December to the highest level in more than 6-1/2 years and permits surged, in a hopeful sign for the sluggish housing market recovery. Overall, housing starts rose 4.4 percent to a 1.09 million-unit rate last month.
Kitchen nightmare: Why Chef Gordon Ramsay owes $1M in pub rentA British judge on Tuesday ruled celebrity chef Gordon Ramsay personally liable for the $1 million annual rent on a London gastropub. Ramsay accused his father-in-law of forging his signature on a document making Ramsay guarantor for the rent on the York & Albany pub, now a fashionable dining spot.
Shake Shack IPO could be worth $80M in stock market debutShake Shack announced Tuesday that it plans to raise up to $80 million from an IPO, pricing shares between $14 and $16. Shake Shack expects to list on the New York Stock Exchange under the "SHAK" ticker symbol.
IRS.gov kicks off tax season, offers Obamacare adviceIRS.gov is offering taxpayers online advice on how to deal with Obamacare. Tax preparation online on IRS.gov became available Friday, and taxpayers will have until April 15 to file their tax returns and pay any tax due.
Richest 1 percent will soon own more than the other 99 combined: ReportThe richest 1 percent already own 48 percent of all the world's wealth, and will own 50 percent or more by 2016, according to a new Oxfam report.
Swiss franc's massive surge, the most in decades, hit firms around the worldThe scale and speed of the Swiss franc's staggering ascent in what is one of the world's most-traded currencies caught many financial firms unprepared –for some smaller firms proved to be too much.
US jobless claims jump to a four-month highJobless claims by US workers increased to the highest level since early September, but the underlying trend continued to point to a strengthening labor market. The Labor Department said jobless claims rose by 19,000 to 316,000 for the week ending Jan. 10.
Switzerland ditches currency peg, gets much more expensiveThough the timing of the Swiss decision proved a surprise, most foreign exchange experts thought the peg would have to be abandoned, just as previous such efforts had.
Bank of America sees profits fall by double digitsBofA has been hit by high legal costs since the financial crisis, which have undermined the cost-cutting initiatives introduced by Chief Executive Brian Moynihan.
- Economic recovery: Foreclosure rates drop to lowest level since Great Recession
The number of homes repossessed by banks fell 29 percent last year to the lowest level since 2006, a year before the subprime mortgage crisis erupted.
No Carnitas? Chipotle stops serving pork at hundreds of restaurants.Chipotle says it stopped serving pork at a third of its restaurants after suspending a supplier that violated its standards. Chipotle did not have a timeline for when carnitas would return to affected stores.
