Latest Breaking Business News
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Yahoo falls for Tumblr
Yahoo! is considering up to a $1 billion bid for Tumblr, the company that was founded by CEO David Karp and is headquartered in the Flatiron District, according to reports.Word of a potential deal was first reported yesterday by AllThingsD and Adweek.A billion-dollar price tag for the blogging platform that hosts more than 100 million sites would be a reflection of how far New York has come in ...
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Voice axes Musto Feingold
Turmoil continued to grip the Village Voice yesterday with the bouncing of two of its most well-known columnists - Michael Musto, who had penned the gossipy La Dolce Musto for 20 years, and veteran theater critic Michael Feingold.Feingold, a staffer for 30 years, is expected on Monday to host the Obies, the off-Broadway theater awards sponsored by the Voice. "I’m still trying to ...
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Cohen clamming up as Feds circle
Steve Cohen and Uncle Sam are no longer going steady.The hedgie’s SAC Capital yesterday said it will no longer "unconditionally" cooperate with the government’s insider-trading probe. In a brief letter to investors, the $15 billion hedge fund described the coming months as critical, saying it expects "substantially more clarity" into the probe’s impact on ...
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Facebook trying to find its Waze
Facebook’s negotiations to buy mapping firm Waze are being held up by geography, The Post has confirmed.Waze founders are holding out for more money from Facebook because they need some sweetener if they are going to be forced to move from Israel to Silicon Valley as part of the deal, according to a source with knowledge of the negotiations.CEO Mark Zuckerberg has been trying to buy Waze, ...
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Restaurants Fear Tough Drunk-Driving Law
NTSB Recommends Toughening Drunken Driving Standard ) "It could have a chilling effect on sales," said Paul Gatza, the director of the Brewers Association, a trade group that represents small American brewers. For restaurants that serve alcohol, beer sales generally account for about 10 to 20 percent of their revenue while wine and spirits make up another 10 to 20 percent, Gatza said. ...
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Big banks provide cash for payday loans
Fast cash is a few clicks away for Minnesotans at the popular CashNetUSA website, where a two-week loan for $100 carries an annual percentage rate of about 390 percent. To many critics, the terms are outrageous and usurious. But they are typical in the world of high-cost short-term consumer loans, or payday lending, and legal in Minnesota. In fact, the business is supported by some of the ...
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New Microsoft CFOs compensation package disclosed
Welcome to Microsoft Pri0: That's Microspeak for top priority, and that's the news and observations you'll find here from Seattle Times technology reporter Janet I. ...
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Open thread for night owls Stephen Lerner on breaking Wall Streets grip
[T]o build a new anti-poverty movement will require the kind of organizing and actions that are as creative, visible and gripping as the Occupy Wall Street movement. Enter Stephen Lerner. Lerner is a labor and community organizer who has spent more than three decades organizing hundreds of thousands of janitors, farm workers, garment workers and other low-wage workers into unions. These ...
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Oil prices rise on encouraging economic data
Oil prices extended rally Friday on upbeat US economic data as well as positive performance in US commodity markets.US consumer confidence surged to a six-year high in May thanks to a rising stock market and cheaper gas prices, the monthly Thomson Reuters/University of Michigan index of consumer sentiment reported Friday.The preliminary reading of the consumer sentiment rose to 83.7 in May from ...
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China April home prices rise 4.9 percent Reuters calculation
BEIJING (Reuters) - Average new home prices in China's 70 major cities rose 4.9 percent in April from a year earlier, according to Reuters calculations based on official data published on Saturday, marking the fourth straight month of year-on-year ...
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St. Paul microlender NDC boosts small entrepreneurs
Daymn Johnson set up his St. Paul barbershop with a microloan from the Neighborhood Development Center. Here, Johnson gave his son Daymn Jr. a ...
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Wells Fargo leads bank foreclosure halt after OCC guidance
Wells Fargo & Co., the biggest U.S. home lender, halted some foreclosure sales until it can understand new federal guidelines on seizures sent to the nation's large and midsize banks. The rules from the Office of the Comptroller of the Currency dated last month laid out minimum standards that must be met before a foreclosed home can be sold. Citigroup Inc. also said Friday it's ...
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Donaldson results miss expectations
The dull global economy and falling currencies in Europe and Japan are cutting into sales at Donaldson Co., which reported a lackluster third quarter Friday that missed Wall Street expectations. ...
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UnitedHealth slow to fix military care backlog Pentagon says
UnitedHealth Group Inc. is failing to meet terms of a $20.5 billion military contract, causing lingering delays to medical care, a Pentagon official said. The backlogs occurred ...
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Report finds Gen Xers lost almost half their wealth in recession questions retirement savings
NEW YORK - A research report by the Pew Charitable Trusts says younger baby boomers and Generation Xers face an uncertain retirement because of reduced savings, high levels of debt, and losses during the Great Recession. The study found that members of Generation X, who are now between 38 and 47 years old, lost almost half their wealth between 2007 and 2010. Young baby boomers, who are between ...
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Bulls Will Drive Market but Bernanke Is Steering
Federal Reserve Board Chairman Ben Bernanke listens during a meeting of the Financial Stability Oversight Council at the Treasury Department in Washington, ...
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NYSE cancels irregular trades in Anadarko stock Bloomberg
Trading in the shares of the $45.15 billion company plunged to trade at 1 cent per share shortly before markets closed on Friday. The stock gained back its losses and closed up 2.5 pct $90.03 on the New York Stock ...
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Yahoo to vote on $1.1 billion Tumblr buy AllThingsD
SAN FRANCISCO (Reuters) - Yahoo Inc's board will meet on Sunday to vote on whether to offer $1.1 billion in cash for New York-based blogging service Tumblr, tech blog AllThingsD cited sources close to the situation as saying on ...
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CORRECTED-UPDATE 2-Investor group calls on SEC to review change in JPMorgan voting
Fri May 17, 2013 9:08pm EDT (Changes "letter" to "call" in eighth paragraph) By David Henry NEW YORK May 17 (Reuters) - Pension and endowment managers on Friday called on U.S. regulators to review the rules for shareholder voting after a firm collecting ballots for JPMorgan Chase & Co cut off the bank's opponents from polling information. The Council of Institutional ...
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Village Voice tosses veteran columnists Musto Feingold
Turmoil continued to grip the Village Voice today, with owners of the free weekly axing two of its most well-known columnists - Michael Musto, who had penned the gossipy La Dolce Vita for 20 years, and veteran theater critic and 2009 Pulitzer Prize finalist Michael Feingold.Feingold was a staffer for 30 years. "As of next week, veteran gossip columnist Michael Musto and longtime theater ...
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Mugabe’s party accuses Coca Cola of promoting rival party ahead of election
A man waits to obtain his national identity card during a voter registration drive in Harare ahead of the general election. Photograph: Philimon ...
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San Diegos export potential problematic
The choice is not whether we compete but whether we do it well or not, and the cost or risk of competing poorly is falling behind. San Diego is faced with trade-related infrastructure capacity constraints in four of the five ways to move people and goods in and out of the region, forcing us to depend upon the increasingly constrained infrastructure located in the greater Los Angeles area. To ...
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Northrop Grumman lands $555.6 million contract
Northrop Grumman's San Diego division has been awarded a two-year Air Force contract potentially valued at $555.6 million to modernize its Global Hawk unmanned aerial vehicles, the Defense Department ...
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San Diego firms report March quarter results
Envision Solar, a San Diego maker of solar tree structures for parking lots and other uses, posted lower sales and larger loss for the quarter ended March 31 compared with the prior ...
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Europe investors bow to Africa Asia in U.S. real estate deals
The panel analyzing capital investment in U.S. real estate, from left, were: John R. Miller, Charles H. Fedalen Jr., Christopher R. Ludeman, J. Michael Stedman and Jon H. ...
Silicon Valley Focus
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Silicon Valley's Expo ambitions
Moffet Field, a fairly unknown former military airbase in Silicon Valley near Mountain View and Sunnyvale, may become the centerpiece of the 2020 World Expo if Governor Schwarzenegger and other advocated of a California bid get their way.
California wants one of its cities to host the 2020 World Expo, the event is a seminal one on the world calendar and is expected to draw in over 70 million visitors to Shanghai, the city currently hosting the exhibition, which last six months. Read more
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