More Business Articles

  • APNewsBreak: Icahn says Taj casino likely to close

    Updated: Thu, Oct 23, 2014

    ATLANTIC CITY, N.J. (AP) — Billionaire investor Carl Icahn says the struggling Trump Taj Mahal casino "will almost certainly close." The would-be purchaser of the casino told The Associated Press on Thursday night that the casino's finances are dire. Four of Atlantic City's 12...

  • Senators ask gov't for nationwide air bag recall

    Updated: Thu, Oct 23, 2014

    DETROIT (AP) — Two U.S. senators are calling on regulators to issue a nationwide recall of cars with faulty air bags made by Takata Corp., questioning why automakers have been allowed to limit recalls to only certain locations with high humidity. Democratic Sens. Richard Blumenthal of...

  • Alcoa sells stake in South Carolina smelter

    Updated: Thu, Oct 23, 2014

    Alcoa is selling its stake in a South Carolina aluminum smelter to Century Aluminum Co. for $67.5 million. New York-based Alcoa said in a statement that while Mt. Holly is a strong facility, it doesn't match its portfolio goals. Chicago-based Century Aluminum said Thursday that...

  • Rajaratnam brother barred for 5 years in SEC deal

    Updated: Thu, Oct 23, 2014

    WASHINGTON (AP) — The brother of a jailed former hedge fund boss will be barred for at least five years from the securities industry and pay about $841,000 to settle a civil insider trading case against him. The Securities and Exchange Commission announced the settlement Thursday with...

  • Burrito chain urged to drop 'illegal' from name

    Associated Press
    Updated: Thu, Oct 23, 2014

    FORT COLLINS — Some people are urging the Colorado burrito chain Illegal Pete's to change its name because of the way the word "illegal" has been used to describe immigrants. The Coloradan (http://noconow.co/1wpoTne ) reports that about 30 people gathered in Fort Collins...

  • US average rate on 30-year home loan 3.92 percent

    Updated: Thu, Oct 23, 2014

    Average U.S. mortgage rates fell this week, with the 30-year loan at its lowest level since June 2013.

  • A blue Christmas for Amazon?

    Updated: Thu, Oct 23, 2014

    NEW YORK (AP) — It might be a blue Christmas for Amazon. The world's largest online retailer gave a disappointing forecast for the crucial holiday season. The company also reported a wider loss than analysts expected for the third quarter. Amazon has been investing heavily in an...

  • Cloud business lifts Microsoft's quarterly results

    Updated: Thu, Oct 23, 2014

    SAN FRANCISCO (AP) — Microsoft's quarterly profit and revenue sailed past expectations Thursday, as CEO Satya Nadella's push to embrace cloud computing and diversify into mobile devices helped lift sales by 25 percent. Revenue from cloud services, including software delivered over the...

  • Sears refutes store-closing report

    Updated: Thu, Oct 23, 2014

    NEW YORK (AP) — Sears Holdings Corp. discredited a report Thursday that says it will be shuttering 116 Sears and Kmart stores, resulting in the layoffs of more than 6,000 workers. Seeking Alpha, a crowd-sourced financial news and market tracker, reported that Pennsylvania, Michigan...

  • Glass maker deals to exit Apple, Arizona plant

    Updated: Thu, Oct 23, 2014

    PHOENIX (AP) — Nearly 2,000 furnaces installed in an Arizona factory to make synthetic sapphire glass for Apple Inc. will be removed and sold under a deal between the tech giant and the company that had been gearing up to produce huge amounts of the product for use in Apple's products....

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