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Archive for the ‘Business & Economy’ Category:

JC Penney store sales plunge nearly 20 percent

Published on May 16 2012 // Business & Economy
Linda Young – Fourth Estate Cooperative Writer New York, NY, United States (4E) – J.C. Penney’s stock shares tumbled in price Wednesday after the company announced sales had dropped by 18.9 percent and that it was eliminating its dividend to fund the company’s ongoing makeover. ...

Buffett takes a stake in GM

Published on May 16 2012 // Business & Economy, Featured
Buffett takes a stake in GM
Diane Alter – Fourth Estate Cooperative Reporter New York, N.Y., United States (4E) – Warren Buffett’s Berkshire Hathaway took a new 10-million share stake in automaker General Motors in the first quarter of 2012. The Buffett investment comes as the Detroit automaker continues to...

Stocks in U.S. start Wednesday on a positive note

Published on May 16 2012 // Business & Economy
Diane Alter – Fourth Estate Cooperative Reporter New York, N.Y., United States (4E) – United States markets started Wednesday higher as European developments continue to take center stage. Just after 9:30 a.m. on Wall Street, the Dow, coming off a 63-point loss Tuesday, was up 32 points,...

HTC shares dip after U.S. seizes shipment of smartphones

Published on May 16 2012 // Business & Economy, Featured
HTC shares dip after U.S. seizes shipment of smartphones
Linda Young – Fourth Estate Cooperative Writer Washington, D.C., United States (4E) – Share prices of Taiwan’s smartphone manufacturer HTC fell in trading after United States customs officials held up shipments of its new smartphones over a patent dispute. By closing on Tuesday, HTC...

French lingerie exhibit gets intimate

Published on May 16 2012 // Business & Economy
Diane Alter – Fourth Estate Cooperative Reporter Paris, France (4E) – Set to open shortly is a Paris exhibition honoring the French lingerie industry. The intimate display will trace the evolution of France’s storied lingerie industry from the creation of the country’s corsetry...

April sees no inflation and only slight rise in consumer spending

Published on May 15 2012 // Business & Economy, Featured
April sees no inflation and only slight rise in consumer spending
Linda Young – Fourth Estate Cooperative Writer Washington, D.C., United States (4E) – Inflation in the United States remained flat and retail sales only rose by 0.1 percent in April, compared with March. The fact that consumer prices remained flat overall in April was good news for consumers. ...

FBI probes JPMorgan’s $2 billion trading loss

Published on May 15 2012 // Business & Economy
Windsor Genova – Fourth Estate Cooperative News Writer Washington, DC, United States (4E) – The Justice Department is investigating the $2 billion trading loss of financial firm JPMorgan Chase & Co. with its sub-agency Federal Bureau of Investigation (FBI) leading the inquiry, according...

Greek parties fail to form coalition; new elections set

Published on May 15 2012 // Business & Economy
Windsor Genova – Fourth Estate Cooperative News Writer Athens, Greece (4E) – Leaders of political parties divided over austerity plans failed to form a coalition government on Tuesday after three days of talks setting a new round of elections next month. President Karolos Papoulias will...

Rebekah Brooks, husband charged in British tabloid phone hacking scandal

Published on May 15 2012 // Business & Economy
Linda Young – Fourth Estate Cooperative Writer London, United Kingdom (4E) – British prosecutors have announced plans to charge former News of the World editor Rebekah Brooks and her husband Charlie Brooks with trying to obstruct a police investigation into phone hacking by newspapers owned...

Facebook raises IPO price range

Published on May 15 2012 // Business & Economy
Diane Alter – Fourth Estate Cooperative Reporter New York, NY, United States (4E) – With its highly anticipated IPO just a few days away, Facebook has raised the target price range for its initial public offering to $34 to $38 a share, up from the original $28 to $35 range set by the social...
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