August 31, 2007 |
The Michigan Legislature on Thursday approved moving the state's presidential primaries to Jan. 15, just days after national Democrats vowed to punish states that vote too early. Democratic Gov. Jennifer Granholm was expected to sign the bill. If the primaries are moved up, Michigan Democrats risk losing all their national convention delegates, and Republicans risk losing half.
July 13, 2007 |
Alfredo Cardona of Santa Ana has always liked buying his clothes at Nordstrom, but lately he switched to Burlington Coat Factory, where the prices are lower. The 24-year-old financial advisor said he now shopped "anywhere you can save." And he's not alone. Retailers Thursday posted moderate sales results for June as shoppers kept spending but tried to get more for their money.
January 22, 2007 |
Every time he gets on an airplane wearing his gray Ace Hardware work shirt, Ray Griffith hears expressions of concern. Fellow passengers always want to know if the venerable cooperative is managing to get by OK in the face of competition from ever-proliferating home improvement superstores. It's a question Ace's chief executive finds almost embarrassing, he says, because the retailer-owned company is doing so well.
January 9, 2007 |
Wall Street overcame early losses to close higher Monday as a drop in oil prices and a fresh round of acquisition activity helped boost investors' confidence in the economy. Gap surged on a report that the clothing retailer was considering strategic alternatives for the business, possibly including a sale of the company.
November 3, 2006 |
Despite sharply higher third-quarter profit at CBS Corp., investors fretted Thursday that a slowdown in TV advertising could crimp future earnings or that management might risk some of the company's cash stockpile on big acquisitions. Its shares fell 16 cents to $28.76 after the New York media company reported a 26% jump in earnings from continuing operations.
July 19, 2006 |
When Federal Reserve Chairman Ben S. Bernanke testifies about the economy to a Senate committee this morning, all eyes and ears will be on his view of inflation and any hints about whether he will keep raising interest rates to curb it. But some analysts think the Fed wields less influence over inflation these days, making higher interest rates less effective as a tool to control it. They fear that further hikes could end up slowing the economy and hurting consumers without constraining prices.
July 14, 2006 |
Los Angeles County's office market continued to tighten in the second quarter as business expansions pushed up rents and lowered vacancy rates, particularly on the Westside, according to data released Thursday. The steadily tightening market is putting growing financial pressure on firms planning to expand, real estate industry observers said.
March 28, 2006 |
Retail gasoline prices in California jumped higher for the fourth week in a row, rising 3.4 cents to an average of $2.669 a gallon Monday, as some analysts warned that uncertainty over summer supplies could spur further increases at the pump. The price hike in California, where the retail average is up 23 cents since the end of February, came as the cost of self-serve regular gas eased slightly nationwide, according to the U.S. Energy Department's weekly price survey.
March 16, 2006 |
Sears Holdings Corp. overcame a steep sales drop-off at its namesake department stores to more than double its fiscal fourth-quarter profit, saying Wednesday that it benefited from continued cost cutting and the addition of Sears' results to Kmart's. Net income for the quarter ended Jan. 28 was $648 million, or $4.03 a share, up from $309 million, or $3.09, a year earlier. That easily exceeded the consensus estimate of analysts surveyed by Thomson Financial, who had pegged earnings at $3.
March 3, 2006 |
Interest rates on long-term Treasury bonds jumped Thursday to their highest level since November, amid more signs that the world's major central banks will make credit tougher to get. Rising U.S. bond rates may keep mortgage rates elevated, which would keep pressure on the weakening housing market. The rate, or yield, on 10-year Treasury notes ended at 4.63%, up from 4.58% on Wednesday and the highest since Nov. 9. The yield has risen from 4.33% in mid-January. The jump in U.S.