All Latest News Wires
Aereo bankruptcy: Streaming startup will keep operating, but how?Aereo says that it has filed for Chapter 11 bankruptcy protection, saying an unfavorable ruling by the US Supreme Court was too difficult to overcome. Aerop made waves earlier this year by letting people record and stream broadcast TV online.
Wal-Mart defends food drive for employees, amid criticismWalmart came under fire yesterday after a labor group posted an image showing a food drive for employees at an Oklahoma store. A Walmart spokeswoman responded that the retailer, which is frequently the subject of attack over its pay practices, never plans such events at the corporate level.
Best Buy surprises with Q3 sales gain. Stock surges nearly 10 percent.Best Buy says its revenue edged up in the third quarter, a positive sign for the electronics retailer as the holiday season kicks off. Both revenue and earnings per share beat expectations, and Best Buy stock rose almost 10 percent in premarket trading.
US jobless claims dip under 300,000 for 10th straight weekUS jobless claims fell 2,000 to a seasonally adjusted 291,000 last week, the Labor Department said Thursday. The consistent downward trend in jobless claims suggests that the labor market remains solid.
What does Uber know about you?Uber is fast and convenient, sure. But when you sign up for the ridesharing service, you offer Uber a lot of data.
US housing starts dip 2.8 percent in October, but market grows strongerHousing starts fell 2.8 percent to a 1.009 million-unit pace in October thanks to a 15.4 percent plunge in the volatile multi-family homes part of the market. But housing starts for US single-family homes increased for a second straight month, suggesting housing the market was still on a recovery path.
Takata airbag recall expanded to more US vehiclesTakata airbags in millions of cars were recalled by The National Highway Traffic Safety Administration Tuesday. Over 10 million Takata air bags have already been recalled.
Home Depot Q3 earnings impress, despite data breachHome Depot's third-quarter profit rose 14 percent, suggesting that a huge data breach announced in September has not shaken the faith of its customers. Still, Home Deport said that it could not account for all possible losses the breach, which affected 56 million debit and credit cards.
Uber exec says company should spend $1M to 'dig up dirt' on journalistsUber executive Emil Michael made comments suggesting that the ride-sharing service should spend $1 million to hire a team of researchers to 'dig up dirt' on its critics in the media, according to a Buzzfeed report. Uber has denied that it investigates journalists.
GM ignition switch crash victims will have another month to file claimsGeneral Motors has extended the deadline for victims of crashes caused by faulty ignition switches by one more month, to January 31, 2015. Notices about the compensation fund have been sent to nearly 4.5 million current and prior owners of recalled General Motors cars.
Actavis will buy Botox-maker Allergan in $66B dealActavis (ACT) is paying $66 billion to buy fellow drugmaker Allergan (AGN) in a deal that could finally end a months-long takeover battle waged by Valeant Pharmaceuticals for the Botox maker. Shares of both Actavis and Allergan surged Monday morning on news of the deal.
Japan's economy in recessionA sales tax hike has been blamed for the Asian nation's economic malaise.
Halliburton aims to replace Baker Hughes boardHalliburton Co. will nominate candidates to replace the entire board of directors of Baker Hughes Inc., in a move to pressure the rival oilfield-services company into accepting an acquisition offer.
Are Dutch tax laws giving Starbucks an unfair advantage?The European Commission is investigating four 'sweetheart deals,' including what may constitute illegal state aid to Starbucks from the Dutch government, which allows the coffee company to make payments on a lower corporate tax base.
Virgin America IPO raises $307 million: Shares begin trading FridayVirgin America shares will trade on the Nasdaq stock market under the ticker symbol 'VA.'
Amazon ends Hachette feud. Deal called 'great news for writers.'Amazon and Hachette Book Group resolved one of publishing's nastiest, most high-profile conflicts Thursday, announcing a multi-year agreement that takes effect early next year. Amazon and Hachette provided few details on the agreement.
US jobless claims rise more than expected, but still trending downJobless claims rose 12,000 to 290,000, above expectations for 280,000 claims, but remained near a 14-year low, and stood for a ninth straight week below the 300,000 mark. Economists expect jobless claims to resume their downward trend in the coming weeks.
Warren Buffett's Berkshire Hathaway buys Duracell from P&GWarren Buffett's Berkshire Hathaway said it would buy Procter and Gamble's Duracell battery business in exchange for its entire $4.7 billion stake in the household products maker. Buffet said in a statement that he's always been 'impressed' by Duracell, and shares of P&G fell 1 percent in early trading.
Macy's earnings offer clues to the holiday shopping seasonMacy's reported a 23 percent increase in its fiscal third quarter but cut its annual profit outlook because of a sales shortfall in the period. Macy's is the first of the major retailers to report Q3 results, which should provide a glimpse into shoppers' mindset as the retail industry gears up for the critical holiday shopping season.
Major banks fined $3.4B for manipulating currency marketsUS British and Swiss regulators have fined five global banks $3.4 billion for attempting to manipulate foreign exchange markets — the latest penalties for an industry previously criticized for their role in triggering the global financial crisis. The Justice Department is conducting their own investigations and further penalties are possible.
