A lot has changed since the 4-foot-by-8-foot carts with wagon wheels debuted 40 years ago, most notably, they contribute to an estimated $8 billion in annual mall sales.
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Hidden in Plain Sight, Tiny Mall Kiosks Make a Surprisingly Big Impact
22
May
Bernanke offers no hint of pullback in Fed stimulus
22
May
By Pedro da Costa and Alister Bull WASHINGTON (Reuters) – The Federal Reserve’s monetary stimulus is helping the U.S. economy recover but the central bank needs to see further signs of traction before taking its foot off the gas, Fed Chairman Ben Bernanke said on Wednesday. In testimony that offered no sign that he is ready to retreat from the Fed’s latest round of bond buying, Bernanke emphasized the high costs of unemployment and inflation that continues to run below the Fed’s target. …
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Senate panel hammers Apple over offshore tax strategies
21
May
By Patrick Temple-West WASHINGTON (Reuters) – Apple Inc came under fire on Tuesday at a Senate hearing over an investigation that alleged the U.S. high technology icon has kept billions of dollars in profits in Irish subsidiaries and paid little or no taxes to any government. “Apple effectively shifts billions of dollars in profits offshore, profits that under one section of the tax code should nonetheless be subject to U.S. taxes, but through a complex process avoids those taxes,” said Senator Carl Levin. …
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Before Tumblr, Founder Made Mom Proud. He Quit School.
21
May
David Karp, 26, whose mother responded to his high school boredom with a suggestion that he try home-schooling, played a role in several start-ups before founding Tumblr.
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Ireland rejects blame for Apple's low tax rate
21
May
By Conor Humphries and Padraic Halpin CORK/DUBLIN (Reuters) – Ireland said on Tuesday it was not to blame for Apple Inc’s low global tax payments and had no special rate deal with the company after the U.S. Senate said it paid little or no tax on tens of billions of dollars in profits stashed in Irish subsidiaries. The Irish government, which has seen the luring of U.S. multinationals with low taxes as a key part of its economic policy since the 1960s, said its system was transparent and other countries were responsible if the tax rate paid by Apple was too low. …
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Yahoo buying Tumblr for $1.1 billion, vows not to screw it up
20
May
By Jennifer Saba and Alexei Oreskovic (Reuters) – Yahoo Inc said it is buying blogging service Tumblr for $1.1 billion cash, giving the struggling Internet pioneer a much-needed platform in social media to reach a younger generation of users. The deal, announced on Monday, is a bold bet by Yahoo Chief Executive Marissa Mayer to revitalize the company by co-opting a Web property with strong visitor traffic but little revenue. The acquisition, which will use up about a fifth of Yahoo’s $5. …
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Wall Street Week Ahead: Correction talk gets old as rally sails along
18
May
By Angela Moon NEW YORK (Reuters) – With the broad S&P 500 Index gliding once again into uncharted territory and posting four straight weeks of gains, the talk of Wall Street’s rally inevitably hitting a ceiling is starting to get old. Concerns about a technical correction have been a hot topic for weeks, especially as the rally accelerated in May – the S&P 500 is up 4.4 percent so far this month and up nearly 17 percent for the year. But as the three major U.S. stock indexes inch higher and higher to set record after record, many analysts are shrugging off the pullback worries. …
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May consumer sentiment highest in nearly six years
17
May
By Leah Schnurr NEW YORK (Reuters) – Consumer sentiment rebounded in early May to the highest level in nearly six years, an encouraging sign after recent data that has suggested economic growth is cooling. A gauge of future economic activity released on Friday also suggested the expected slowdown would be temporary, with the index rising to a near five-year high in April. Economists expect growth will likely slow in the second quarter from the 2.5 percent pace at the beginning of the year as tighter fiscal policy starts to bite. …
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Two Musical Minds Seek a Different Kind of Mogul
16
May
The music business partners Jimmy Iovine and Dr. Dre gave $70 million to the University of Southern California to start an academic program for the development of creative entrepreneurs.
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Data raises questions about strength of U.S. economy
16
May
By Jason Lange WASHINGTON (Reuters) – The U.S. economy showed worrisome signs as jobless claims rose sharply last week while ground-breaking at home construction sites tumbled in April and a gauge of underlying inflation pointed to weak demand. The data could fuel fears over the impact of a government austerity drive that began in January, and could raise pressure on the Federal Reserve to keep its money printing press running on overdrive as the central bank buys bonds to support the economy. …
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