Sales at U.S. retailers, including Costco Wholesale Corp and the company that runs Victoria’s Secret, suggest that overall U.S. consumer spending is improving while discretionary spending may remain under pressure. Analysts expect a 3.6 percent rise in June sales at stores open at least a year across the 11 U.S. chains that report this data each month.
Apple broke antitrust laws and conspired with publishers to raise electronic book prices significantly in spring 2010, a federal judge ruled Wednesday. (July 10)
Stocks drifted lower ahead of the release of minutes from the Federal Reserve’s latest policy-meeting.
Ladies and gentlemen: Here’s your new Tonight Show host! After illustrious stints on Saturday Night Live and, of course, as the current host of Late Night With Jimmy Fallon, we now know that Jimmy Fallon will be the host of The Tonight Show after the 2014 Olympics.
A Spanish political party that triggered a high profile court investigation into the near collapse of bailed-out bank Bankia has asked for Christine Lagarde, the head of the International Monetary Fund, to testify as a witness. The Union for Progress and Democracy which last year persuaded the high court to open an investigation into the bank’s listing and near demise, asked the judge leading the case to call Lagarde and another IMF official to be questioned.
Fox Business senior correspondent Charlie Gasparino said insider trading cases have been used politically to show we’re cracking down on Wall Street, but they have nothing to do with the mortgage crisis, that started the call for a crackdown.
Increasingly worried analysts have cut their earnings growth expectations for the S&P 500 by a stunning 83%.
In an era of intense government surveillance and secret court orders, a multimillion dollar business has emerged among telecommunications carriers, with the average telephone wiretap costing the government more than fifty thousand dollars. (July 10)
U.S. regulators have labeled insurer American International Group Inc. and General Electric Co.’s finance arm as potential threats to the financial system, designations that bring stricter government oversight.
The sudden resignation of Barnes & Noble Inc’s chief executive could indicate the struggling bookseller is closer returning to basics: bookstores. William Lynch, CEO since 2010, quit just two weeks after the company reported a 34 percent drop in revenue in its Nook business, a venture he spearheaded that has cost Barnes & Noble hundreds of millions of dollars.
