After UK Lawmakers accused it of immorally avoiding tax Dec. 3, Starbucks (SBUX) announced Dec. 6 it would voluntarily pay 20-million pounds in UK corporation tax over the next two years. “Having listened to customers and to the British public, Starbucks in the UK will be making … [Read more...]
Tim Cook Brings Apple (AAPL) Manufactuing to US & Stock Falls
In his first-ever interview as Apple (AAPL) CEO, Tim Cook told NBC’s Bryan Williams Dec. 6 the company plans to bring manufacturing of one of its existing Mac lines back to the United States next year. Apple has manufactured its products in China since 1994. … [Read more...]
Apple Shares (AAPL) Fall 6 Percent Then Steady After Tim Cook’s Announcements
In the face of heavy competition for its most popular devices, Apple Inc. (AAPL) shares fell more than 6 percent Dec. 5, marking the company’s biggest single-day loss in four years. The stock was one of the biggest losers of the day on the S&P 500, dropping $35 billion of its market … [Read more...]
Obama Won’t Budge on Tax Reform Fiscal Cliff Here We Come
President Obama plans to play hardball when it comes to raising taxes on the wealthy, according to White House spokesmen, and is willing to let the country go over the “fiscal cliff” if Republican lawmakers don’t cooperate. “This is a choice of the Republican Party,” White House … [Read more...]
Republicans Reject Stimulus Measures in Obama’s Debt-reduction Plan
As Democrat and Republican lawmakers struggle to agree on a long-term economic solution—and the fiscal cliff draws nearer—the Obama administration is paying renewed attention to stimulating the again-sluggish economy. In his debt proposal presented last week to Congressional leaders, … [Read more...]
Obama Tweets to Rally his Fiscal Cliff Plan as Republicans Propose Their Own Solution
President Obama hosted a town hall forum on Twitter Monday afternoon, urging middle-class Americans to contact their Congressmen to support his budget plans. The president used the hashtag #My2K to reinforce the $2,000 in extra taxes the average American family will pay if Congress … [Read more...]
CFPB Issues Warning to Businesses About Free Credit Reports
The Fair Credit Reporting Act entitles consumers to an annual free credit report from all reporting companies, not just Equifax, Experian and TransUnion. Hundreds of specialty reporting agencies collect information about medical payments, tenant history, check-writing behaviors, … [Read more...]
Should the US Replace Dollars with Coins – Could Save $4.4 Billion
Would reducing paper money help the federal deficit? The House Committee on Financial Services investigated the concept in a Nov. 29 hearing as the Government Accountability Office presented its conclusions that replacing dollar bills with coins would save $4.4 billion over the next … [Read more...]
Daily Deals Leaders Groupon and LivingSocial Dying Business Model
The future of the daily deals market looks bleak as industry leaders Groupon and LivingSocial each faced serious issues in the past week. “The field is going through some growing pains,” Yipit research firm’s Unaiz Kabani told CNN. Analysts have seen signs of distress for months, … [Read more...]
Fiscal Cliff Negotiations Turn Sour as the Parties Divide on Budget Proposal
Reports from Washington indicate budget talks may have taken a step backward Thursday as House Speaker John Boehner rejected the Obama administration’s $4 trillion plan to avoid going over the approaching fiscal cliff. Although he offered no details, Boehner said he was “disappointed” … [Read more...]
Charities Oppose Eliminating Tax Deduction
As lawmakers work to find new ways to eliminate the federal deficit, a greater focus has been placed on reducing or eliminating certain tax deductions, including the charitable deduction, which taxpayers may claim for donations made to nonprofits, churches, colleges and hospitals. In … [Read more...]
Stocks Close Higher on Fiscal Cliff Optimism
After Senate Majority Leader Harry Reid’s Tuesday remarks concerning lack of progress in fiscal cliff talks caused the market to slump, it rebounded Wednesday when House Speaker John Boehner told reporters he was optimistic a deal would be reached before the Dec. 31 deadline. The Dow … [Read more...]
Consumer Confidence Reaches Nearly 5-Year High
Tis the season to be jolly, and according to recent government data, Americans are in good economic spirits this holiday season. The Conference Board's consumer confidence index climbed to a nearly 5-year high this month, increasing from 73.1 to 73.7. Factors such as rising home … [Read more...]
Gifts in ’12 Days of Christmas’ Exceed $100K
The fabled true love of Christmas might be better off giving diamonds and flat screens than lords-a-leaping and a partridge in a pear tree, according to PNC Wealth Management. The organization, which calculates the cost of the 364 items listed in “The Twelve Days of Christmas” … [Read more...]
Online Retail Traffic Surges for Both Thanksgiving and Black Friday
The Thanksgiving spread paid off for retailers this year, as Experian Hitwise found Thanksgiving Day online traffic increased a full 71 percent in 2012 versus 2011 for the top 500 retail sites which received more than 181 million US visits. For the entire holiday week, online traffic … [Read more...]
Retailers Push for High Cyber Monday Web Traffic
Black Friday and Small Business Saturday are now part of 2012 history, with record sales including Thanksgiving Day. Now research firm comScore predicts Cyber Monday will surpass all three days’ online sales and be the biggest online shopping day of the year for the third consecutive … [Read more...]
Small Business Saturday Encourages Holiday Shoppers to Spend Money Locally
Today is Small Business Saturday, and although it’s not associated with the shopping hysteria of Black Friday’s frenzied shoppers waiting in long lines just to get rock-bottom prices on electronics, bedding, toys and more, the day certainly is significant in its own right. Started in … [Read more...]
USPS to Launch Same-Day Delivery Program
We've come a long way from the Pony Express. In today’s world of technological instant gratification, the financially struggling United States Postal Service believes it can turn a profit by offering same-day delivery to Internet shoppers. Beginning Dec. 12, the USPS will pilot the … [Read more...]
Americans Find Funds for Holiday Travels in Spite of Tough Economy
More than 43 million Americans will travel at least 50 miles this holiday weekend, according to AAA’s Thanksgiving Holiday Travel Forecast, and 90 percent of those journeys will take place on the road. Thanksgiving travel has increased for four consecutive years, and is now up … [Read more...]
Hostess Agrees to Mediation with Bakers Union
Just as the black market for Hostess products is getting hot on Web sites such as Ebay and Amazon, Hostess Brands Inc. and the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union agreed Nov. 19 to try and resolve their differences through private mediation. … [Read more...]
