August 21, 2013 |
Lowe's fiscal second-quarter earnings provided even further evidence that the housing recovery is boosting the economy. Lowe's Cos. on Wednesday reported that earnings for the quarter that ended Aug. 2 jumped 26% to $941 million, or 88 cents a share, compared with the same period a year earlier. “Home improvement demand was strong during the quarter, and we capitalized on it with improving execution," said Ro bert A. Niblock , Lowe's chief executive. “We drove a healthy balance of ticket and transaction growth, and delivered solid performance across all product categories.” Lowe's reported that sales increased to $15.7 billion, up 10.3% from the second quarter of 2012. Home price increases, city by city The North Carolina-based retailer also raised its earnings outlook for the year.
August 20, 2013 |
The housing recovery and improving economy led Home Depot Inc., the nation's largest home improvement retailer, to post better-than-expected second-quarter earnings, which jumped 17% over the same period last year. The Atlanta-based company reported Tuesday that sales were $22.5 billion, up 9.5% over the same time period last year. For the quarter ending Aug. 4, Home Depot posted an overall profit of $1.8 billion, or $1.24 per share....
August 19, 2013 |
Kobe Bryant continued to push his way back from a torn Achilles tendon, releasing a video of his workout via Instagram on Monday. The clip shows Bryant running on the Alter-G, the weight-bearing treadmill. While he has been walking on the Alter G for some time during his recovery, Bryant has clearly increased his pace. The Lakers All-Star guard was injured April 12 in a win over the Golden State Warriors. He had surgery the following day. While touring China, Bryant said he has "shattered" his recovery timetable, but more recently, Bryant said he's not sure if he'll make it back in time for opening night (Oct.
August 18, 2013 |
SAN FRANCISCO - In a surprising turn, the tech industry is in a slump even as the U.S. economy picks up steam. The announcement Thursday that Silicon Valley giant Cisco Systems, which sells networking and telecommunications equipment, plans to cut 4,000 jobs is the latest sign of a slowdown that has sucker-punched high-tech firms. After a remarkable six-year boom set off by the introduction of the first iPhone in 2007, tech companies of all shapes and sizes are finding growth slowing, and even contracting in some cases.
August 16, 2013 |
California shed thousands of construction jobs last month, another sign that the resurgent housing market has so far failed to translate into widespread building. The construction industry lost 7,300 jobs in July, the largest decline of any industry, the state's Employment Development Department said Friday. The housing market has rebounded sharply this year as tight inventory, low mortgage rates and an improving economy have sent prices sharply higher. Builders are increasingly confident in the new home market, but new construction, while increasing, has so far failed to keep up with demand and remains below normal levels.
August 15, 2013 |
Very early into his hour-long conversation with Kobe Bryant, Jimmy Kimmel asked the Lakers All-Star guard the most important question. Will Bryant be ready to play Oct. 29 on opening night? "I don't know if I'll be ready for opening night. I really don't know," Bryant said. "I know I'm really, really ahead of schedule. " Fresh off his trip to China and the Philippines, Bryant sat down at Nokia Theatre on Thursday night in a special event titled, "Kobe Up Close Hosted by Jimmy Kimmel" - the proceeds for the event going the Kobe & Vanessa Bryant Foundation to help fight homelessness and also to support "Coach for Kids and Their Families" a program of the Cedars-Sinai Maxine Dunitz Childrens' Health Center that provides no-cost health care to underserved communities.
August 14, 2013 |
LONDON -- Europe's economy is showing signs of recovery for the first time since 2011, according to figures released Wednesday by the European Commission. The second quarter of 2013 showed distinct if fragile 0.3% economic growth collectively over the previous quarter for the 17 countries that share the euro currency. The improvement was driven chiefly by Germany, where gross domestic product grew by 0.7% over the previous quarter, and France, with growth of 0.5%. Consumer spending, manufacturing and exports appear to have grown in both countries.
August 6, 2013 |
Hanley Ramirez's injured right shoulder continued to improve Tuesday and the shortstop's status was "pretty much day to day," Dodgers Manager Don Mattingly said. "As long as he keeps going forward like this" in his recovery, "there won't be an MRI" exam needed, Mattingly said, adding that could change "if he stalls and all of a sudden he's not getting better. " "We're basing a lot of this off of, obviously, the way he's feeling, the way he's moving his arm," Mattingly said.
CALIFORNIA | LOCAL
August 5, 2013 |
A persistent decline in passengers at L.A./Ontario International Airport has become so severe that the once-popular facility could reach a point where recovery would be almost impossible, Inland Empire officials warned Monday in a new report. Touted by Forbes magazine several years ago as one of the best alternative metropolitan airports in the nation, Ontario lost almost 40% of its 7.2 million annual passengers from 2007 to 2012. A further 8% decline is expected this year, which would bring the volume of travelers to just under 4 million, the lowest in a generation.
August 5, 2013 |
Kobe Bryant said he and his doctors have "shattered" the timetable for recovery after his Achilles' surgery. "The surgical procedure was different ... and because of that the recovery has been different," Bryant said while traveling in Shenzhen, China, according to NBA.com . "The normal timetable for recovery from an Achilles, we've shattered that. Three-and-a-half months [and] I can already walk just fine. I'm lifting weights with the Achilles just fine and that's different.