All Entries in the "Business News" Category
Stephen Schwarzman with $702m emerges as America’s best paid boss
Upper echelons of high-rolling chief executives were dominated by the executives running energy businesses which prospered as the commodity prices soared last summer The colourful tycoon Stephen Schwarzman was America’s best paid corporate boss with a staggering pay package of $702m (£424m) last year as he received a huge chunk of stock negotiated at the time of the flotation of his Blackstone empire in 2007. Despite a dismal economic backdrop of soaring unemployment, failing high-street businesses and plunging stockmarkets, Schwarzman, 62, easily outshone America’s… Continue Reading
Washingtonian names new editor
Jack Limpert, editor of The Washingtonian for more than four decades, is relinquishing his position and undertaking a less demanding role. Garrett Graff, currently executive editor and staff member since 2005, will step in and become the third editor-in-chief in the magazine’s 44-year history. The monthly print magazine highlights Washington’s social, political and restaurant scene. Publisher Catherine Merrill Williams sent out a memo outlining the staff change. Limpert will remain at the publication as editor-at-large. Graff, a Vermont native and founding editor of mediabistro.com’s…
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Ameriprise grants $10,000 to guitar society.
Ameriprise Financial Inc. awarded a $10,000 grant to the Austin Classical Guitar Society. The grant will support the society’s educational outreach program, which served more than 500 students in eight Austin schools during the 2008-2009 academic year. “We have already added four additional schools for the 2009 to 2010 academic year and expect the program to grow an additional 30 percent during…
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UK has to wait as Europe recovers
France and Germany have snapped out of recession unexpectedly early, according to the first estimates of growth released by the European statistics agency. Both economies grew by 0.3 per cent between April and June, a much better performance than analysts had anticipated and one in stark contrast to the 0.8 per cent contraction seen in Britain. It means that, for now at east, their year-long recession is over. The news comes just as the German election campaign gets into full swing, with polling day set for 27 September. Chancellor Angela Merkel’s Christian Democrats enjoy a 15 point lead in the opinion polls over their Social Democrat rivals and the evidence that her economic polices appear…
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Deli duel: NC taste test set after grocer’s pick
Dietz & Watson is holding a taste test Thursday in Charlotte, putting two of its products up…
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Gilead Sciences announces Colorado closures
BOULDER, Colo. – Gilead Sciences Inc., a biopharmaceutical firm known for its HIV therapies, is closing its offices in Boulder…
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Maine’s windkeepers tend giant windmills like the sailing ships of old to harness energy
TOWNSHIP 8, RANGE 3, Maine – Silent surroundings almost tease the ears as clouds skitter across the top of this eastern corner of Maine. The wind, barely audible, swishes through beech and fir trees crowding the hills of a region area so remote it’s part of the state’s Unorganized Territory. Along the rounded ridge of Stetson Mountain, wisps of wind gain a whoosh-whoosh cadence as they push into motion mammoth blades at the tops of towers reaching hundreds of feet into the air. Those same winds help turn on the lights, run TVs and power washers, dryers and ovens in thousands of homes all over New England. They also help to heat the water for Andy Doak’s shower before he heads out for work… Continue Reading
Economy Perking Up, but Jobs Slow to Come
Small Business Owners Say They Need to See Several Months of Rising Sales before Adding Staff Font size Print E-mail Share 0 Comments Photo In this Aug. 4, 2009 photo, job seekers participate at a job fair at the Vicksburg, Miss., Convention Center. (AP Photo) Interactive Eye On The Economy… Continue Reading
Energy prices slump after Labor Department report
- Energy prices slumped Tuesday on a Labor Department report that suggested consumer spending, a major economic driver, may be depressed for some time as companies cut back. Benchmark crude for September delivery fell $1.15 to settle at $69.45 a barrel on the New York Mercantile Exchange. It was the fourth straight day of declines and the first time this month that the price for crude dipped below $69. The national average for retail gas fell for the first time in three weeks, and the Energy Information Administration in its short-term energy outlook… Continue Reading
Earnings Preview: Sara Lee Corp.
PORTLAND, Ore. (AP) – Sara Lee Corp., the maker of Jimmy Dean sausages, Hillshire Farm deli meats and Sara Lee breads, reports earnings for its fiscal fourth quarter on Wednesday before the market opens. The following is a summary of key developments and analyst opinion related to the period. OVERVIEW: Sara Lee’s bottom line may have benefited from lower commodity prices and a focus on value-priced… Continue Reading
A look at economic developments around the globe
A look at economic developments and stock market activity around the world… Continue Reading
Swiss meet on UBS as US tax talks drag
The Swiss Government held an extraordinary meeting today to talk about how America’s legal battle to obtain client names from UBS will hit the legendary Swiss banking industry. Talks to settle the lawsuit, which had been expected to be completed on Friday, have hit difficulties over the issue of how the names would be… Continue Reading
Stock futures modestly lower ahead of opening
NEW YORK (AP) — Stock futures were modestly lower early Monday as investors turn their attention to an upcoming Federal Reserve Board meeting and earnings from some of the nation’s largest retailers. Overseas, Asian markets rose amid a positive report on Japanese machinery orders, a key indicator of corporate capital spending. European markets were modestly lower. Amid a spring rally that has now stretched into the summer, investors… Continue Reading
LNG projects are changing China’s energy mix
On the eastern coast of China, the country’s oil companies are building or already operating a series of liquefied natural gas (LNG) projects. With an investment totaling billions of yuan, they are improving the energy mix of the country, which now relies on coal for 70 percent of its energy. The latest among these projects is the Zhejiang LNG receiving terminal developed by China National Offshore Oil Corp (CNOOC). The country’s third-largest oil company announced on July 8 that the project has been approved by the… Continue Reading
Crushed!
Australia thrashed England by an innings and 80 runs as they won the fourth Test at Headingley inside three days to revive their bid to retain the Ashes. //–> Monday, August 10, 2009 Australia thrashed England by an innings and 80 runs as they won the fourth Test at Headingley inside three days to revive their bid to retain the Ashes. The result left the five-match series all square at 1-1 ahead of the final Test at The Oval starting on August 20…. Continue Reading
The Easiest Cars to Bargain For
By HANNAH ELLIOTT Forbes.com Aug. 9, 2009 The hyped-up version of the Audi A8 comes with a unique W12 engine that produces 450 horsepower and does 0 to 60 miles per hour in five seconds. Audi’s super-sedan costs $122,000–but if you play your cards right, you can get it for much less. The Land Rover Range Rover is one of several car models… Continue Reading
Gateway Health Plan’s Madden: Reinvent payment structures
After spending four years at Highmark Inc., Michael Madden has returned to Gateway Health Plan as its new chief medical officer, with a bright office overlooking the Golden Triangle. The Pittsburgh-based… Continue Reading
As ‘Cash for Clunkers’ Ramps Up, New Cars Sell Out
Filed at 3:34 p.m. ET NEW YORK (AP) — The nation’s car dealers have a new worry: they’re running out of vehicles. As the ”cash-for-clunkers” program reaches its next chapter, and consumers pour into showrooms, some dealers say their stock of new cars — especially for fuel-efficient smaller models — is waning. At Larry Miller Honda in Boise, Idaho, about two-thirds of the car lot is empty. The dealership is nearly out of 2009 models — something that usually doesn’t happen until the late fall. And the situation is so dire at a Chrysler, Dodge and Jeep dealership in Beaver Springs, Pa., that the owner, Michael Andretta, is essentially shutting down this weekend to repave his car lot…. Continue Reading
THE INFLUENCE GAME: Chamber of Commerce emerges as leading foe of Obama health, banking plans
WASHINGTON (AP) —If wants to take the measure of his opposition, he only has to glance across Lafayette Park from the . There, behind 10 massive Corinthian columns, is the headquarters of the U.S. Chamber of Commerce — a leading critic of the administration’s health care and banking overhaul plans. A fortress for the business community, the chamber has emerged as a multitasking, multimillion-dollar defender of the private sector against presidential initiatives. As lawmakers spend time at home during their August vacation hearing from constituents, the chamber is adding its own heat to the season. There’s a $2 million campaign against Obama’s proposals that would make the… Continue Reading
Luxury resort offers $19 room _ minus bed
August 8, 2009 SAN DIEGO (AP) — A luxury resort in is offering rooms for $19 a night — if you don’t mind sleeping in a tent. The Inn boasts three pools, a spa and golf course. It typically charges more than $200 a room. But business is down. So from Aug. 16 to 31, guests can get a “Survivor Package” that charges them less for each amenity they give up. For $19, guests give up breakfast, air conditioning, lights, sheets and even the bed. Staff will remove the mattress and headboard and leave a small tent instead. Oh, and bring your own toilet paper. General manager tells The San Diego Union-Tribune that the hotel hopes people who try the promotion will return at full price. Copyright… Continue Reading
Buffett’s Berkshire Hathaway reports 14 percent 2Q profit increase
OMAHA, Neb. – Warren Buffett’s company reported a 14 percent jump in second-quarter profit as the improving stock market boosted the value of Berkshire Hathaway Inc.’s derivative contracts and its investments. On Friday, the Omaha-based company reported $3.3 billion in net income, or $2,123 per share, for the quarter ending June 30. That’s up from $2.88 billion, or $1,859 per share, in the same period a year ago. The three analysts surveyed by Thomson Reuters on average expected Berkshire to report earnings per share of $1,238.38. Berkshire generated revenue of $29.61 billion in the quarter, down slightly from $30.03 billion a year ago. Berkshire owns more than 60 subsidiaries and it has… Continue Reading
Museveni lauds Kenyan entrepreneurs
Written By:Rose Kamau/KNA , Posted: Fri, Aug 07, 2009 Ugandan President Yoweri Kaguta Museveni has lauded Kenyan entrepreneurs for their role in fostering regional economic development through sustained cross border trade and investments. Speaking during the official launch of the new Oasis Mall which houses among other businesses a Nakumatt branch in Kampala President Museveni described the investment as a landmark economic empowerment tool. The mall is owned by award winning… Continue Reading
Rupee down 18 paise at 47.85 a dollar in opening trade
MUMBAI: The rupee on Friday moved further down by 18 paise against the US currency in opening trade on expectations of… Continue Reading
Rupee down 18 paise at 47.85 a dollar in opening trade
MUMBAI: The rupee on Friday moved further down by 18 paise against the US currency in opening trade on expectations of… Continue Reading
Lacey Turner wins Best Actress gong at soap awards again... but can't even manage a smile- Auto loan delinquencies jump in 1st quarter
'I could've been Warren Beatty's lover No. 12,776': But unlike other women, Glenys Roberts spurned his cheesy chat-up lines- Top-Performing Municipal Bond Mutual Funds
- Shag Salon offers full hair, beauty care downtown
- World car sales will fall 20pc next year, says Volkwagen chairman Martin Winterkorn
Victoria Beckham swaps super tight dress for more comfy look (by Posh's standards at least)