business – News Stories About business - Page 9

Syrian Expats Return Home Seeking Fortune

Dec 27, 2007 3:16 PM CST

Syrian Expats Return Home Seeking Fortune

Looser economic regulations are creating lucrative opportunities

(Newser) - Many Syrians who long ago moved to the US are returning to their homeland to pursue business opportunities. New laws are loosening regulations on private investment and foreign exchange, creating lucrative targets for people with available funds and previous experience with Syria's bureaucracy. The Christian Science Monitor looks at an...

CompUSA to Close After Xmas

Dec 8, 2007 6:28 AM CST

CompUSA to Close After Xmas

All stores to close after the holidays

(Newser) - CompUSA has been sold to a restructuring company and will be ending retail operations after the holidays, AP reports. The troubled electronics retailer, bought by Mexican telecom magnate Carlos Slim in 1999, closed more than half its outlets in the spring after repeated turnaround efforts failed. Gordon Brothers Group will...

Black Friday Getting Longer

Nov 22, 2007 8:08 PM CST

Black Friday Getting Longer

Stores open earlier to boost profits, attract headlines

(Newser) - Stores will open earlier than ever on Black Friday, with midnight openings becoming more common, the AP reports. Wal-Mart, in fact, began its sales today. "You sell two sweaters and you've broken even,” said one analyst. But Gap chief Glenn Murphy will be out with the hordes, then...

Don't Blame China for Toy Recalls: Study

Nov 13, 2007 6:13 PM CST

Don't Blame China for Toy Recalls: Study

75% stem from design flaws, not manufacturing

(Newser) - Don't blame China for soaring toy recalls, a new Canuck study says; the problem is design. "If you are going to get into a finger-pointing game, you should point it mostly on the design side," said a Canadian prof. "It has got nothing to do with China....

Siemens, Banks Bow to US Pressure to
End Iran Biz

Nov 9, 2007 4:44 AM CST

Siemens, Banks Bow to US Pressure to End Iran Biz

Firms falling in line with anti-nuke arm-twisting

(Newser) - The Siemens company in Germany, one of the world's largest engineering operations, and the country's three largest banks are cutting business ties with Iran under White House pressure to get out or risk US interests. It's a sign that major European corporations are beginning to line up behind American economic...

Microsoft
Fires CIO

Nov 6, 2007 10:16 PM CST

Microsoft Fires CIO

Says investigation revealed he violated company policy but won't give details

(Newser) - Microsoft sacked its chief information officer, Stuart Scott, "after an investigation for violation of company policies," according to an email response to press inquiries. The company refuses to elaborate further, but since Scott appeared onstage with his boss at a technology conference less than a month ago, it...

Making Money:
Patent Pending

Oct 24, 2007 6:43 PM CDT

Making Money: Patent Pending

IBM wants to patent an idea about its patents, which is, well, patently contrary

(Newser) - Big Blue is seeing green in a recent patent filing. IBM, which holds more patents than any company in the world and reaps more than $1 billion in royalties annually, says it wants to make it easier for small companies to license its ideas on a “floating privilege basis....

Web Biz Alibaba Launching Record IPO in China

Oct 22, 2007 4:24 AM CDT

Web Biz Alibaba Launching Record IPO in China

Operation links buyers to Chinese manufacturers

(Newser) - Alibaba, the business-to-business service that links small and mid-sized Chinese manufacturers to customers around the world, is expected today to announce what will likely be the biggest Internet IPO in Chinese history. Analysts expect the world's most-visited import/export site to pull in an estimated $1.3 billion from Hong Kong...

Note to Dems: Use Health Care to Woo Business

Oct 10, 2007 4:38 PM CDT

Note to Dems: Use Health Care to Woo Business

American Prospect says reform key to pilfering GOP support

(Newser) - The GOP is losing its grip on the big-business vote, and Democrats need to seize the opportunity to move in, argues the American Prospect's Paul Waldman. Health-care reform is the perfect peg for the left to woo Wall Street, and with single-payer systems far cheaper than the current mess, wise...

Cargo Drop-off
a Sign of Slow Economy

Oct 9, 2007 8:02 PM CDT

Cargo Drop-off a Sign of Slow Economy

Observers stunned as port imports fall after years of growth

(Newser) - A drop in cargo at US ports has stunned analysts, who call the 1.4% fall more evidence of a stalled economy. A few factors are keeping foreign cargo at bay—the low dollar, wary buyers, and a cool housing market among them—yet observers still expressed shock. "When...

Bain, Chinese Firm Buy 3Com

Sep 30, 2007 5:14 PM CDT

Bain, Chinese Firm Buy 3Com

US will check telecommunication buyout for security risks

(Newser) - Chinese company Huawei Technologies Co. will help private equity firm Bain Capital buy 3Com Corp., a flailing US telecommunications company, by picking up almost 20% of the tab. Recently Chinese businesses have bought strategic stakes in US companies rather than full buyouts to skirt political scrutiny, which can lead to...

Tightening Credit Markets Squeeze Banks

Sep 10, 2007 10:58 AM CDT

Tightening Credit Markets Squeeze Banks

$140B in commercial paper is coming due, and forecast is fuzzy

(Newser) - Almost $140 billion in commercial paper has matured and is up for renewal by next week, and banks need to attract buyers to pay it off. The yield on the short-term loans, which are entangled in the subprime mortgage crisis, is skyrocketing. "This could be a pivotal seven to...

Study Links CEO's Private Life to Profits

Sep 5, 2007 5:16 PM CDT

Study Links CEO's Private Life to Profits

Company downturns often follow deaths in executives' families

(Newser) - A new study adds to the growing pool of data showing how intimately a company's success can be linked to the life of its CEO, the Wall Street Journal reports. The latest finding indicates that a firm's profitability drops following the death of a CEO's close family member—though the...

Big Business Fuels Green Boom

Sep 1, 2007 5:17 PM CDT

Big Business Fuels Green Boom

Fear of dot-com-like bust grows as money chases scarce ideas

(Newser) - Greed and idealism are converging as big business propels today’s clean energy industry, CNN reports. Silicon Valley entrepreneurs are pulling in capital for oil and coal alternatives, while across the pond, London financiers swapped more than $30 billion last year in "pollution permits"—credits companies can sell...

Market Opens Sharply Down

Aug 16, 2007 10:18 AM CDT

Market Opens Sharply Down

(Newser) - US stocks dipped this morning, following steep declines in Europe and Asia as distress over the expanding credit crisis heightened. The Dow Jones sank over 100 points this morning, and the S&P was off nearly 0.8% after erasing its entire year's gains yesterday. "Everyone is waiting for...

Bush Ready to 'Push Hard' for Biz Tax Breaks

Aug 9, 2007 7:04 AM CDT

Bush Ready to 'Push Hard' for Biz Tax Breaks

But he knows it's a tough sell

(Newser) - President Bush is considering a new package of corporate tax breaks in a bid to perk up Wall Street, calm volatile markets and send a message the economy is sound, the Washington Post reports. At the same time he rejected Democratic proposals to allow Fannie Mae and Freddie Mac more...

Gay Support Turns Off
Swing Voters

Aug 8, 2007 7:15 PM CDT

Gay Support Turns Off Swing Voters

Endorsements hurt more than help in key states, poll finds

(Newser) - The backing of gay rights groups could turn swing-state voters against a candidate, new polls show. Politico reports that Florida, Ohio and Pennsylvania voters, by a large margin, consider the support of such groups reason to vote against rather than for a candidate; no one since JFK has been elected...

Exit Scrambles Fidelity Succession Picture

Aug 8, 2007 10:33 AM CDT

Exit Scrambles Fidelity Succession Picture

Mutual-fund giant loses possible heir apparent

(Newser) - A top Fidelity Investments exec has resigned her post, reigniting speculation about the closely held firm's line of succession, reports the Wall Street Journal. Ellyn McColgan, 53, who was president of a division of the largest American mutual-fund company, was seen as a front-runner in the race to succeed 77-year-old...

Wal-Mart Sets Sights on India

Aug 7, 2007 3:18 PM CDT

Wal-Mart Sets Sights on India

Retail behemoth teams up with local biz, hoping to get piece of $300B market

(Newser) - Wal-Mart will set up shop in the lucrative Indian market for the first time, the Times of London reports. In collaboration with Indian mobile phone company Bharti, the American retail giant will sell wholesale goods to small shops, restaurants, and other businesses. The first "Bharti Wal-Mart" stores are expected...

GM’s Quarter Is Twice as Nice

Jul 31, 2007 10:02 AM CDT

GM’s Quarter Is Twice as Nice

Carmaker more than doubles estimates, beats Toyota in sales for quarter

(Newser) - General Motors scored a breakout second quarter, more than doubling earnings estimates and turning a profit of $891 million, compared to a loss of $3.4 billion a year ago, Bloomberg reports. GM made money in three out of four regions globally, and nearly broke even in the recently treacherous...