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Business News

Location American Business News for 16 May 2013
Here's How Google Is Planning To Get Amazon Cloud Customers To Switch To Its New Service (GOOG, AMZN) Google opened its Google Compute Engine cloud service to the public on Wednesday, and now its strategy for competing with Amazon Web Services (AWS) is becoming clearer. Like AWS, Google Compute Engine is an Infrastructur...
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After listening to me talk about the Innovation Prize for Africa recently, my 8-year-old son asked me a very challenging question: "What is innovation?"
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Many investors were perhaps thinking that Dell's efforts to go private is not such a bad thing, as its profit margins plunged as the PC maker cut prices to maintain sales.
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TEXAS STATE FIRE MARSHAL: Arson Not Ruled Out In Fertilizer Plant Explosion Investigation The cause of the West, Texas fire that caused a huge explosion is still "undetermined", State Fire Marshal Chris Connealy told reporters this afternoon. A number of potential causes have been eliminated, including kindli...
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Schwab to allow clients to file class actions

Investment News - 16 May 2013 23:34
In its battle with Finra over mandatory arbitration, Charles Schwab has backed down, making its clients the winner. But the fight has just begun.
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Occupy Protester Wins $25K From City After Suing Over Arrest

The Huffington Post - 16 May 2013 00:02
Occupy Protester Wins $25K From City After Suing Over Arrest FINANCIAL DISTRICT -- A dancer-turned-Occupy Wall Street-protester won a $25,000 judgment against the city after accusing beefy cops of bloodying her shin with batons during...
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US rate on 30-year mortgage rises to 3.51 pct.

Miami Herald - 16 May 2013 23:42
US rate on 30-year mortgage rises to 3.51 pct. Average U.S. rates on fixed mortgages rose this week but stayed near their historic lows. Cheaper mortgages have helped the economy by spurring more home-buying and refinancing.
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News Summary: Late fade takes Dow down

Miami Herald - 16 May 2013 23:37
RARE DROP: Signs of a slowing economy combined with comments from a Federal Reserve official helped pull the stock market down Thursday. It was only the third drop for the S&P 500 index this month.
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Twitter cofounder Jack Dorsey is terrible at Vine

Venture Beat - 16 May 2013 23:59
Twitter cofounder Jack Dorsey is terrible at Vine You'd think Twitter cofounder and Square CEO Jack Dorsey would be a whiz at social media. But his posts to Twitter's young video-sharing service Vine are a mix of weirdly creepy and just-plain-boring clips.
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Your Next Vodka Tonic On United May Taste A Little Better

Business Insider - 16 May 2013 23:58
Your Next Vodka Tonic On United May Taste A Little Better Cheers! Let's raise a glass to United Airlines, as they're bringing a new spirit to the in-flight beverage cart. They're calling on an Austin, Texas based company to provide all the vodka to their flights all around the ...
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Department-store retailer JC Penney on Thursday reported a quarterly loss and revenue that missed expectations.
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Yahoo's Fines In That Massive $2.75 Billion Mexican Lawsuit Have Been Cut To $172,500 (YHOO) Yahoo announced some relatively good news today. It's not on the hook to pay a staggering $2.75 billion fine to Mexican entrepreneur Carlos Bazan-Canabal after all. An appellate court in Mexico reduced the fine to a much...
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Fired Amy's Baking Co. Employee Speaks Out?

The Huffington Post - 16 May 2013 23:51
Fired Amy's Baking Co. Employee Speaks Out? It's been a rough week for the owners of Amy's Baking Company, featured recently on a May 10 episode of Gordon Ramsay's "Kitchen Nightmares"; but...
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Beleaguered J.C. Penney Posts Another Big Loss

The New York Times - 16 May 2013 23:46
The company said it lost $348 million, or $1.58 per share, as it tried to bounce back from a misguided overhaul set in motion by its previous C.E.O.
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Gender Gap Among K Street CEOs: $600,000

The Huffington Post - 16 May 2013 23:45
Gender Gap Among K Street CEOs: $600,000 WASHINGTON -- Gender inequality is alive and well on K Street, Washington's notorious lobbying boulevard, according to a new report on CEO salaries issued Thursday...
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EdgeSpring launches with $11M in Series A funding to help simplify analytics EdgeSpring, making data analytics easy for the average user, launches with $11 million in Series A funding.
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Nordstrom 1st quarter net income slips

Boston - 16 May 2013 23:39
NEW YORK (AP) -- Nordstrom Inc. said Thursday its first-quarter net income fell 3 percent, hurt by weak demand for spring merchandise and softer performance in the Northeast and Midwest.
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WASHINGTON (AP) -- Average U.S. rates on fixed mortgages rose this week but stayed near their historic lows. Cheaper mortgages have helped the economy by spurring more home-buying and refinancing.
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SAN DIEGO (AP) -- The numbers sum up the frenzy that has taken over the Golden State since it became the newest in the nation to join the madness over Powerball, which saw its jackpot soar Thursday to $550 million.
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NEW YORK/CHICAGO
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April is not the cruelest month. May is -- because that's when investors are hit with a barrage of articles and brokers' research reports imploring them to "sell in May" and sit out the stock market's weakest six months.
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What hardware is Google making after Glass? Mary Lou Jepsen knows "Google X is the hardware division of Google," Jepsen said. And while she couldn't say too much about the hardware follow-up to Glass, she gave the I/O audience a few clues.
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