Showing posts tagged business

Abercrombie & Fitch to offer plus-sizes

Abercrombie & Fitch says it will offer larger plus sizes for some of its women’s clothes online in 2014. Currently, Abercrombie & Fitch does not carry sizes above a 10 for women’s clothes. Read more from CNN Money.

Photo:  Paul Sancya / AP

Lawrence Summers withdraws name for fed chairmanship
Wall Street Journal: Former U.S. Treasury secretary Lawrence Summers called President Barack Obama Sunday to withdraw from the contest to succeed Ben Bernanke as chairman of the Federal Reserve.
In a letter to the president, Lawrence wrote: “I have reluctantly concluded that any possible confirmation process for me would be acrimonious and would not serve the interest of the Federal Reserve, the Administration or, ultimately, the interests of the nation’s ongoing economic recovery.” 
Photo: Lawrence Summers in 2010. (Molly Riley / Reuters)

Lawrence Summers withdraws name for fed chairmanship

Wall Street JournalFormer U.S. Treasury secretary Lawrence Summers called President Barack Obama Sunday to withdraw from the contest to succeed Ben Bernanke as chairman of the Federal Reserve.

In a letter to the president, Lawrence wrote: “I have reluctantly concluded that any possible confirmation process for me would be acrimonious and would not serve the interest of the Federal Reserve, the Administration or, ultimately, the interests of the nation’s ongoing economic recovery.”

Photo: Lawrence Summers in 2010. (Molly Riley / Reuters)

Yahoo reveals its new logo

Verge: Yahoo has revealed its new logo after changing it every day for the past month. The logo change was part of an effort to add fresh visual interest to the tech brand, while maintaining the color and exclamation point.

Video via Yahoo.

Laid-off Paraguay bus drivers stage crucifixion protest
BBC: A number of Paraguayan bus drivers and a woman have submitted to crucifixion in a protest against being laid off.

The woman, one of the men’s wives, joined the protest on Wednesday. The men have already been nailed to crosses through their hands for 20 days.
The manager of the bus company says five of the drivers will be rehired, but the other three will receive legal separation payments and be found jobs in other bus companies.The drivers say they will continue their protest until they are all  reinstated.
Photo credit: AP.

Laid-off Paraguay bus drivers stage crucifixion protest

BBC: A number of Paraguayan bus drivers and a woman have submitted to crucifixion in a protest against being laid off.

The woman, one of the men’s wives, joined the protest on Wednesday. The men have already been nailed to crosses through their hands for 20 days.

The manager of the bus company says five of the drivers will be rehired, but the other three will receive legal separation payments and be found jobs in other bus companies.The drivers say they will continue their protest until they are all  reinstated.

Photo credit: AP.

Muriel Siebert, 1st woman to buy seat on NYSE, dies at 80
NY Times: Muriel Siebert, the first woman who bought a seat on the New York Stock Exchange and the first woman to head one of the exchange’s member firms, has died at 80. Siebert was also the first woman to be superintendent of banking for New York State; the appointment was made in 1977.
Her friend Jane H. Macon says the cause of death was complications of cancer.
Photo credit:Chester Higgins Jr./The New York Times

Muriel Siebert, 1st woman to buy seat on NYSE, dies at 80

NY Times: Muriel Siebert, the first woman who bought a seat on the New York Stock Exchange and the first woman to head one of the exchange’s member firms, has died at 80. Siebert was also the first woman to be superintendent of banking for New York State; the appointment was made in 1977.

Her friend Jane H. Macon says the cause of death was complications of cancer.

Photo credit:Chester Higgins Jr./The New York Times

Blackberry exploring strategic alternatives including possible sale

JUST IN: Blackberry says it has set up a committee to explore strategic alternatives that could include joint ventures, partnerships or a sale of the company, Fox Business reports.

More updates on BreakingNews.com.

Photo: AT&T

US Senate passes bill that would allow states to tax Internet purchases

AP:


The US Senate has passed a bill that could end tax-free shopping on the Internet for many shoppers.

The Senate voted 69 to 27 Monday to pass the bill, sending it to the House where it faces opposition from some lawmakers who regard it as a tax increase.

Under current law, states can only require retailers to collect sales taxes if the merchant has a physical presence in the state. As a result, many online sales are tax-free.

Cyprus clinches last-ditch bailout deal

Reuters: Cyprus made a last-ditch deal with international lenders Monday for a 10 billion euro ($13 billion) bailout that will shut down its second largest bank and inflict heavy losses on uninsured depositors.

The agreement emerged after negotiations between President Nicos Anastasiades and heads of the European Union, the European Central Bank and the IMF.

The plan, swiftly endorsed by euro zone finance ministers, will spare the country a financial meltdown by winding down Popular Bank of Cyprus and shifting deposits below 100,000 euros to the Bank of Cyprus to create a “good bank.”

Cyprus Popular Bank restricts ATM withdrawals

Reuters: Cyprus Popular Bank has imposed a 260 euro per day limit on ATM withdrawals to cope with high demand, the island’s second largest lender said in a statement.

Customers lined up to withdraw funds Thursday on widespread rumors that the bank would be closed down. The rumor was later denied by the central bank.

Airbus seals massive $24 billion plane deal

AP: Indonesian airline Lion Air is to buy 234 short to medium range aircraft from Airbus for €18.4 billion ($24 billion), in what is being billed as the biggest civilian deal in the history of the aircraft manufacturer.

Dow closes at record high

CNN Money:

The Dow climbed more than 125 points to close at a record high of 14,253.77, topping the prior record set in October 2007. Earlier, the blue chip index climbed to an intraday record of 14,286.37.

The S&P 500 added 15 points and finished at its highest level since October 2007 and is now only about 2% away from its record closing high.

Image via RealTick

Nerf introduces product line marketed for girls
TODAY.com: Hasbro is launching the Nerf Rebelle, a new product line marketed for girls. First up will be the Heartbreaker bow, which will hit store shelves this fall.
The line promises the same power as items in the Nerf Elite line, but with pretty girly colors and designs. Nerf, however, says the differences between the Rebelle and Elite lines go beyond pink.
In an effort to connect with girls and how they play, the Heartbreaker will also come with collectible darts and the line will have an app, which encourages teamwork and strategy and lets girls capture photos and videos of all of the action. The bow is also sized and shaped differently, making it easier for young girls to handle.
Photo: The Heartbreaker bow (courtesy of Hasbro)

Nerf introduces product line marketed for girls

TODAY.com: Hasbro is launching the Nerf Rebelle, a new product line marketed for girls. First up will be the Heartbreaker bow, which will hit store shelves this fall.

The line promises the same power as items in the Nerf Elite line, but with pretty girly colors and designs. Nerf, however, says the differences between the Rebelle and Elite lines go beyond pink.

In an effort to connect with girls and how they play, the Heartbreaker will also come with collectible darts and the line will have an app, which encourages teamwork and strategy and lets girls capture photos and videos of all of the action. The bow is also sized and shaped differently, making it easier for young girls to handle.

Photo: The Heartbreaker bow (courtesy of Hasbro)

US Postal Service to cut Saturday mail delivery
JUST IN: The U.S. Postal Service is expected to announce later today that it will stop delivering mail on Saturdays but continue to deliver packages six days a week, The Associated Press reports.The plan is aimed at saving about $2 billion. Photo: U.S. Postal Service letter carrier Anthony Ow places letters in a mailbox as he walks his delivery route on July 30, 2009, in San Francisco, California. (Getty Images North America)

US Postal Service to cut Saturday mail delivery

JUST IN: The U.S. Postal Service is expected to announce later today that it will stop delivering mail on Saturdays but continue to deliver packages six days a week, The Associated Press reports.

The plan is aimed at saving about $2 billion.

Photo: U.S. Postal Service letter carrier Anthony Ow places letters in a mailbox as he walks his delivery route on July 30, 2009, in San Francisco, California. (Getty Images North America)

HMV workers appear to take over Twitter account amid layoffs

Workers at the troubled UK entertainment store HMV appear to have taken over the company’s Twitter account to announce layoffs, The Independent reports.

It’s not clear whether the account had been hijacked from the outside and within 20 minutes of the first tweet, all had been deleted. The company has declined to comment on the tweets.

HMV’s joint administrators confirmed that 190 layoffs have been made across the head office and distribution network, but added that there have been none in stores.