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What a 9.7 percent unemployment rate means
Despite economists’ expectations that the unemployment rate would climb well into the economic recovery, the percentage of unemployed, job-seeking Americans fell 0.3 percentage point in January to 9.7 percent, its lowest point since August. The unemployment rate is calculated through a separate survey from the payroll count, which found the nation’s employers still reluctant to
5 new accidents involving Toyota Prius confirmed: report
Published on 10 Feb, 2010 at 11:38 in Business | Viewed 124 views times | No Comments
The Japanese government has confirmed five new accidents involving Toyota Motor’s Prius hybrids and will urge the troubled car giant to investigate the cases, a newspaper reported Saturday. The Transport Ministry has received some 80 complaints in February about malfunctions in the brake system of the latest model of the flagship Prius, the Tokyo Shimbun
Beazer Homes posts a $48 million profit for Q1
Published on 10 Feb, 2010 at 11:36 in Business | Viewed 158 views times | No Comments
Homebuyers spurred by low interest rates and government incentives helped lift Beazer Homes USA Inc.’s sales in the last three months of 2009, but the builder only turned a profit because of a hefty tax gain. Management said Friday it expects to reel in more home shoppers this year, but stopped short of forecasting a
WA among states weighing sale of liquor business
Published on 10 Feb, 2010 at 11:34 in Business | Viewed 99 views times | No Comments
Thousands of cases of whiskey, vodka and rum zip along three miles of conveyor belts inside a massive distribution center in industrial south Seattle, the sole location for shipping booze to liquor stores across Washington state. The 250,000-square-foot warehouse is the nexus from which all of the state’s liquor is imported, processed, and moved out
Toyota chief apologizes for massive global recalls
Toyota’s president emerged from seclusion Friday to apologize and address criticism that the automaker mishandled a crisis over sticking gas pedals. Yet he stopped short of ordering a recall for the company’s iconic Prius hybrid for braking problems. Akio Toyoda, appointed to the top job at Toyota Motor Corp. last June, promised to beef up
Earnings Preview: Electronic Arts
Published on 10 Feb, 2010 at 10:52 in Business, Money, Techonology | Viewed 83 views times | No Comments
Video game publisher Electronic Arts Inc. reports its fiscal third-quarter results after the stock market closes Monday, the day after running its first-ever Super Bowl advertisement. WHAT TO WATCH FOR: EA, known for games such as “The Sims” and the popular “Madden” football series, gave a forecast below expectations in January amid lower-than-expected game sales.
Wall Street bonuses outrage Americans
The figures on Wall Street bonuses for top executives who benefited from the TARP bailouts that began in November of last year are beginning to surface, and the news is breathtaking on a couple of different levels. The first thing that got the attention of many taxpayers is the way that the information was spun
SEC accuses 3 ex-New Century execs of fraud
Published on 17 Dec, 2009 at 17:19 in Business | Viewed 126 views times | No Comments
Federal regulators on Monday accused three former top executives of collapsed mortgage lender New Century Financial Corp. of fraud, saying they misled investors as the company’s subprime loan business was failing in 2006. In a case stemming from the mortgage market meltdown, the Securities and Exchange Commission filed a lawsuit seeking injunctions, and unspecified civil
Home Depot to launch Martha Stewart paint line
Published on 17 Dec, 2009 at 17:18 in Business | Viewed 93 views times | No Comments
The Home Depot Inc. will start selling Martha Stewart-branded paint and cleaning products next year in addition to the home decor and closet organization lines announced in September, the nation’s largest home improvement retailer said Monday. Martha Stewart Living Omnimedia Inc.’s deal with Kmart ends in January. Home Depot said it will start selling the
Crude prices, gas prices fall
Published on 17 Dec, 2009 at 17:18 in Business | Viewed 96 views times | No Comments
Crude prices have trended lower for well over than a month and grew even cheaper Monday, which might lead some to believe prices at the pump would follow along. That’s not necessarily been the case so far. Demand for gasoline, jet fuel and diesel is edging only slightly, but not enough for refiners to make
