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Business News

Feds to probe cause of runaway Prius in California (AP)
Tue, 09 Mar 2010 22:07:21 GMT

Driver James Sikes talks about his experiences in his Toyota Prius during a news conference held at Toyota of El Cajon Tuesday, March 9, 2010, in El Cajon, Calif. Sikes' 2008 Toyota Prius raced out of control on a San Diego freeway Monday. A California Highway Patrol officer helped him stop the car.  (AP Photo/Denis Poroy)AP - A Toyota Prius that sped out of control on a California freeway was towed to a dealership Tuesday while federal and company inspectors converged on the car to determine whether a stuck gas pedal was to blame.




Job openings rise sharply (AP)
Tue, 09 Mar 2010 21:31:34 GMT

In this Feb. 10, 2010 photo, Mark McKenzie, of Roseville, Mich., views paperwork while attending a job fair in Detroit. Job openings rose sharply earlier this year, a sign that employers might be preparing to step up hiring.(AP Photo/Paul Sancya)AP - Job openings rose sharply earlier this year, evidence that employers are slowly ramping up hiring as the economy improves.




Stock investors ask: What's the next big thing? (AP)
Tue, 09 Mar 2010 23:00:54 GMT

Traders work on the floor of the  New York Stock Exchange, Tuesday, March 9, 2010.(AP Photo/Mark Lennihan)AP - A year after the stock market began its comeback from 12-year lows, investors are looking for the next big thing.




Chevron to shed 2,000 jobs, sell some assets (AP)
Tue, 09 Mar 2010 22:29:09 GMT

FILE - In this July 31, 2009 file photo, a Chevron gas station pump is shown in Vallejo, Calif.Chevron Corp. said Tuesday, March 9, 2010, it will cut 2,000 jobs this year and will continue reducing its work force through 2011.(AP Photo/Paul Sakuma, file)AP - Chevron Corp. said Tuesday it will cut 2,000 jobs this year and sell some overseas operations as it revamps its struggling refinery, marketing and transportation operations.




Kan. mulling new soda tax, raising other levies (AP)
Tue, 09 Mar 2010 22:49:43 GMT
AP - Kansas would impose a new tax on soda — a penny for every teaspoon of sugar — under a proposal that a key legislator outlined Tuesday while lawmakers considered raising taxes to erase a projected budget shortfall.

If drivers band together, cost to Toyota could be huge (AP)
Tue, 09 Mar 2010 18:19:53 GMT

In this Feb. 7, 2010 photo, the tailends of unsold 2010 Toyota Prius sedans form a long line at a Toyota dealership in Lakewood, Colo. Toyota owners and stockholders have peppered the Japanese automaker with more than 80 class-action lawsuits in the wake of widespread recalls, some contending that defective engineering has caused injuries or deaths and others claiming the company's woes have damaged the value of the vehicles. (AP Photo/David Zalubowski)AP - Toyota owners claiming that massive safety recalls are causing the value of their vehicles to plummet have filed at least 89 class-action lawsuits that could cost the Japanese auto giant $3 billion or more, according to an Associated Press review of cases, legal precedent and interviews with experts.




European stocks fall as markets mark dark anniversary (AFP)
Tue, 09 Mar 2010 11:41:23 GMT

A stock broker trades at the stock exchange in Frankfurt in 2009. Europe's leading stock markets dropped in morning trade on Tuesday as investors reacted to poor earnings news on the grim anniversary of global indices striking multi-year low points.(AFP/DDP/File/Thomas Lohnes)AFP - Europe's leading stock markets dropped in morning trade on Tuesday as investors reacted to poor earnings news on the grim anniversary of global indices striking multi-year low points.




United Technologies cuts CEO compensation (AP)
Tue, 09 Mar 2010 18:09:05 GMT
AP - United Technologies Corp. cut CEO Louis Chenevert's compensation nearly 19 percent last year, according to a document it filed with federal regulators. The company praised his performance but said the recession hurt the conglomerate, especially its aerospace business.

Loss shrinks at Collective Brands, Payless parent (AP)
Tue, 09 Mar 2010 22:40:20 GMT
AP - Collective Brands Inc., which operates the low-price Payless Shoe Source chain, on Tuesday reported a smaller loss for its fourth quarter as its margins improved.

EU urges US to join in action against speculators (AP)
Tue, 09 Mar 2010 19:08:44 GMT
AP - European officials urged the U.S. to join in a crackdown on speculators who bet against Europe's currency union, warning they might ban some credit default swaps — opaque financial instruments blamed for worsening the world financial crisis.

One Congressman's Solution for Boosting Small Businesses Loans (The Motley Fool)
Tue, 09 Mar 2010 21:24:07 GMT
The Motley Fool - The first Friday of every month brings the all-important employment report. February's numbers were better than anticipated. The United States lost only 36,000 jobs, versus the 68,000 that experts expected. This compares with 651,000 jobs lost in February 2009. Still, the unemployment rate held steady at 9.7%, with the unofficial rate stuck around a whopping 16%.

Euro wobbles on eurozone finance jitters (AFP)
Tue, 09 Mar 2010 18:01:46 GMT

A woman passes a sign of a foreign exchange bank in Seoul. The euro lost ground against the dollar Tuesday on revived concern for the financial fate of Greece and other eurozone members and resistance to a planned IMF-style European Monetary Fund.(AFP/File/Jung Yeon-Je)AFP - The euro lost ground against the dollar Tuesday on revived concern for the financial fate of Greece and other eurozone members and resistance to a planned IMF-style European Monetary Fund.




Systemax shares soar after 4Q results (AP)
Tue, 09 Mar 2010 20:59:28 GMT
AP - Shares of Systemax Inc., an electronics retailer, shot higher Tuesday after the company said its fourth-quarter earnings jumped 84 percent.

Commercial delinquency lower than other mortgages (AP)
Tue, 09 Mar 2010 19:41:53 GMT
AP - Commercial mortgages were among the best-performing loans and leases held by banks and thrifts in the fourth quarter of last year, the Mortgage Bankers Association said Tuesday.

Dozen centuries-old shipwrecks found in Baltic Sea (AP)
Tue, 09 Mar 2010 21:51:29 GMT

In this image released by Nord Stream on Tuesday March 9, 2010 shows the wheel of a 18th or 19th century  sailing ship seen in the waters of the Baltic Sea.   A dozen centuries-old shipwrecks  some of them unusually well-preserved  have been found in the Baltic sea by a gas company building an underwater pipeline between Russia and Germany, Swedish experts said Tuesday. The oldest wreck probably dates back to medieval times and could be up to 800 years old, while the others are likely from the 17th to 19th centuries, said Peter Norman, of Sweden's National Heritage Board. (AP Photo/Nord Stream, Ho)AP - A dozen centuries-old shipwrecks — some of them unusually well-preserved — have been found in the Baltic Sea by a gas company building an underwater pipeline between Russia and Germany.




Toyota exec says sales rise 50 pct from March 2009 (AP)
Tue, 09 Mar 2010 22:57:19 GMT
AP - A high-ranking Toyota executive says the automaker's North American sales spiked around 50 percent the first eight days of March as incentives helped lure customers after a series of embarrassing safety recalls.

Chat Transcript: Undergraduate Ranking (BusinessWeek)
Tue, 09 Mar 2010 13:08:46 GMT
BusinessWeek - Notre Dame's Mendoza College of Business (Mendoza Undergraduate Profile) took the top spot in the Bloomberg BusinessWeek ranking of undergraduate business programs for the first time this year. Students praised the program for its values and strong alumni network. And there were many other surprises for undergraduate business programs in 2010. Bloomberg BusinessWeek editors Louis Lavelle and Geoff Gloeckler recently revealed the top 50 programs and answered questions about the ranking from reporter Francesca Di Meglio (FrancescaBW) and readers during a live chat event. ...

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