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NEW YORK — It came and went in a flash each time, a number on a board for mere seconds, but its symbolic power couldn’t be dismissed. The Dow Jones industrial average, powered higher all year by optimism that the economic recovery is finally for real, crossed 13,000 on Tuesday for the first time since … Continue reading →
NEW YORK — Wal-Mart Stores Inc.’s business offers valuable insight into how Americans are reacting in the slow economic recovery: they will spend, but only if they believe they’re getting the lowest prices. The world’s largest retailer guaranteed holiday shoppers that they’d get the lowest prices on merchandise. As a result, bargain-hungry shoppers flocked … Continue reading →
TORONTO — Research In Motion released a free upgraded operating system for its struggling PlayBook computer tablet Tuesday, almost a year later than it first said it would. The BlackBerry maker said the software allows for built-in email, calendar and contacts on the tablet. When RIM launched the PlayBook in April, it said … Continue reading →
DETROIT — Federal safety regulators are investigating a problem with side air bags that may fail to inflate in a crash. The problem has caused recalls of more than 2,700 Toyota, Honda, Subaru and Nissan vehicles, but that number could grow if the National Highway Traffic Safety Administration determines more automakers used similar defective parts. Continue reading →
WASHINGTON — The government regulator for Fannie Mae and Freddie Mac has submitted a plan to Congress that would shrink the mortgage giants’ role in the housing market. The Federal Housing Finance Agency’s proposal for a leaner Fannie and Freddie was released Tuesday and would mean fewer mortgages are backed by the government. That … Continue reading →
The receiver for the Stanford companies has sued Adams & Reese LLP and Breazeale, Sachse & Wilson LLP for $1.8 billion, alleging that the New Orleans and Baton Rouge law firms helped R. Allen Stanford misappropriate the money. The lawsuit claims the loss was caused by the wrongful conduct of the law firms … Continue reading →
NEW YORK (AP) — The Dow Jones industrial average made an early run at 13,000 on Tuesday, but stocks fell and leveled off. Investors were wrestling with what to make of a deal to prevent Greece from a potentially catastrophic default on its debt. The Dow made it as high as 12,983, then quickly lost its gains. … Continue reading →
BENTONVILLE, Ark. — Wal-Mart Stores Inc. plans to buy a controlling interest in the fast-growing Chinese online retailer Yihaodian. The big-box chain operator has agreed to increase its stake in Yihaodian’s holding company to approximately 51 percent, Wal-Mart said late Sunday. The financial terms of the deal were not disclosed. It still must be … Continue reading →
SAN FRANCISCO — Construction giant URS Corp. has offered $1.25 billion in cash to buy the Canadian oil and gas contractor Flint Energy Services Ltd. URS, in San Francisco, said Monday that the deal will significantly expand its presence in the oil and gas industry. It will add to URS’ earnings this year and boost … Continue reading →
LONDON — World markets rose Monday on hopes that Greece will finally secure a massive but long-delayed international bailout, allowing the debt-crippled country to avoid defaulting on its debts next month. A surprise easing in monetary policy in China over the weekend also added to the buoyant mood in markets — many stock indexes are … Continue reading →
SHANGHAI — Apple’s dispute over the iPad trademark deepened Monday after the Chinese company that claims ownership of the name said it won a court ruling against sales of the popular tablet computer in China. Xie Xianghui, a lawyer for Shenzhen Proview Technology, said the Intermediate People’s Court in Huizhou, a city in southern China’s … Continue reading →
LoS CABOS, Mexico — The United States and Mexico agreed Monday to work together when drilling for oil and gas below their maritime border in the Gulf of Mexico. Secretary of State Hillary Clinton and Mexico’s foreign minister signed the deal at a ceremony in the Mexican resort of Los Cabos as Mexican President … Continue reading →
NEW ORLEANS — As Carnival builds toward its out-of-control crescendo of Fat Tuesday, Barry Kern and his team of float-builders and artists are already preparing for next year’s parades. One of the biggest free parties in the world fuels a multimillion-dollar industry for New Orleans and the lifeblood of businesses such as Kern’s studio, which … Continue reading →
Oil prices jumped to a nine-month high above $105 a barrel on Monday after Iran said it halted crude exports to Britain and France in an escalation of a dispute over the Middle Eastern country’s nuclear program. By Monday afternoon, benchmark March crude was up $2.02 to $105.26 per barrel in electronic trading on the New York … Continue reading →
BRUSSELS — Greece’s prime minister rushed to Brussels on Sunday, a day before eurozone finance ministers have to decide whether his country will get a (euro) 130-billion ($170-billion) bailout and avoid a potentially devastating default. Leaders from Germany, Italy and Greece have said they are optimistic that the deal on a second … Continue reading →
MADRID — Hundreds of thousands of protesters were marching throughout Spain on Sunday in the first large-scale show of anger over new labor reforms that make it easier for companies to fire workers and pull out of collective bargaining agreements. Spain’s main trade unions organized marches in 57 cities, beginning midmorning in southern … Continue reading →
TEHRAN, Iran — Iran has halted oil shipments to Britain and France, the Oil Ministry said Sunday, in an apparent pre-emptive blow against the European Union after the bloc imposed sanctions on Iran’s crucial fuel exports. The EU imposed tough sanctions against Iran last month, which included a freeze of the country’s central bank … Continue reading →
New commercial construction in East Baton Rouge Parish dropped sharply in 2011, but expansions and renovations picked up the slack and total commercial construction ended the year up just under 1 percent. Permits filed with the Department of Public works show that new commercial fell 22 percent in 2011 to $300.2 million from 2010, but commercial … Continue reading →
Timothy J. Temple has been named chief executive officer of Hammerman and Gainer Inc. in Lutcher, a provider of third-party administrative and project management service. Temple was executive vice president of the company. Owner Larry Oney will continue his role as chairman to focus on the continued expansion of HGI’s services. Continue reading →
The LSU E.J. Ourso College of Business announced the members of its 2012 Hall of Distinction class are Rolfe McCollister, Anthony Ravani, Sue Turner and Joseph Winkler. McCollister is publisher and chief executive officer of the Greater Baton Rouge Business Report and president and founder of Louisiana Business Inc. Ravani is the … Continue reading →
SAN JOSE, Calif. — Few experts were surprised when Facebook disclosed in its recent IPO filing that its user growth had slowed in the U.S. and Canada. But a deeper look at Facebook’s user numbers shows its growth is also slowing in Europe and Asia, untapped markets seen as vital to its fast-growing business, putting more … Continue reading →
Local businesses wanting to build relationships with Mexico can look to trade missions planned this year by the LSU Ourso College of Business. The first mission will take place May 2-4 in Mexico City. The second mission, the Petroleum Exhibition and Conference of Mexico, will be held June 12-14 in Villahermosa. During both trade missions, … Continue reading →
Discount retailer Steele’s is opening March 1 at 3465 Highway 1 South in Donaldsonville. The retailer sells apparel, accessories and home decor. Steele’s is headquartered in New York City and operates as a stand-alone division of Stage Stores Inc., which operates department stores under the … Continue reading →
DESK AND DERRICK CLUB WHEN: Tuesday, 11:30 a.m. WHERE: Hollywood Casino, Bacall Room, 1717 River Road SPEAKER: Mark Juneau, vice president of global sales and services at Albemarle Corp. COST: $16 RESERVATION: Betty at (225) 272-4452 or … Continue reading →
ROCHESTER, N.Y. — Eastman Kodak Co. will stop making digital cameras, pocket video cameras and digital picture frames in a move that marks the end of an era for the beleaguered 132-year-old company. Some of the products that remain are commercial printing; photo kiosks … Continue reading →
NEW YORK — Although 2011 is history, you may still be able to save money on your business taxes. Many accountants and other tax preparers find that their small-business clients overlook deductions. Sometimes it’s the result of not taking advantage of tax laws that work in your favor. Poor record-keeping also can be the problem. Continue reading →
Dear J.T. and Dale: I remember being told that my résumé should be one page. Recently, my employer was hiring and we were getting two- to three-page résumés. One person even had a section with her personal information: kids, hobbies. What are the rules? — Shiloh J.T.: There are no set … Continue reading →
LOS ANGELES — If you’ve ever had your laptop stolen, watched your toddler baptize your PC with Pepsi or had your MacBook come to a cold, dead stop, you know that the digital memories stored on home computers are anything but indelible. But now there’s a special place coalescing where data never dies: It’s called … Continue reading →
SALT LAKE CITY — Mitt Romney returned to Salt Lake City on Saturday to celebrate the 10th anniversary of the 2002 Winter Games he helped lead, but the GOP presidential candidate came under attack for urging the federal government to provide big bucks for Olympic expenses. Romney was hired to lead the Salt Lake … Continue reading →
BUENOS AIRES, Argentina — Businesswoman and philanthropist Amalia Lacroze de Fortabat, who built a billion-dollar fortune with her late husband’s Argentine cement companies and became a leading art collector, died Saturday at age 90, her family said. She died in her luxury apartment in the Palermo district of Buenos … Continue reading →
BUFFALO, N.Y. — The license plate on movie projectionist Arnie Herdendorf’s Buick is 35MM MAN, a nod to his work in the booth at the 1925 Palace Theatre, with its velvet-draped stage and chandeliered mezzanine. When he drove recently to a multiplex to watch as its film projectors were swapped out for new digital ones, … Continue reading →
CHICAGO — Young people want their music, TV and movies now — even if it means they get these things illegally. A recent Columbia University survey found, in fact, that 70 percent of 18- to 29-year-olds said they had bought, copied or downloaded unauthorized music, TV shows or movies, compared with 46 percent of all … Continue reading →
For local retailers, it actually did look a lot more like Christmas in December, as shoppers upped their spending by nearly 5 percent over the previous year. Retail spending in East Baton Rouge Parish increased to $773.9 million, up 4.7 percent from December 2010. That topped off the year, which finished with $7.6 billion, up 3.7 percent … Continue reading →
WASHINGTON — Consumer prices rose modestly in January on higher costs for food, gas, rent and clothing. But economists downplayed the increase, saying inflation likely will ease in the coming months as prices for raw materials level off. Separately, a gauge of future economic activity rose in January for the fourth straight month, adding … Continue reading →
NEW YORK — The Dow Jones Industrial Average edged teasingly close to the 13,000 marker on Friday, a milestone it hasn’t reached since before the financial crisis brought the U.S. economy to its knees. The Dow rose 45.79 points, or 0.4 percent, to close at 12,949.87, its highest close for the year so far. Continue reading →
The shooting involving federal agents at the Immigration and Customs Enforcement offices in Long Beach, Calif., occurred during a discussion about the alleged shooter’s job performance, authorities said Friday. Authorities identified the shooter as Ezequiel Garcia, 45, a supervisory agent, who was shot to death by another supervisor. Continue reading →
NEW ORLEANS — The finance arm of General Electric Co. announced Friday that it will open an information technology center in New Orleans that will employ 300 people. The jobs with GE Capital will pay salaries ranging from $60,000 and $100,000. All positions will be new hires and will include jobs in the fields of … Continue reading →
NEW ORLEANS — With Louisiana’s state-licensed casinos facing the prospect of rapidly increasing competition from within and outside the state, last month’s winnings fell 3.5 percent from January 2011. The tally for the 13 gambling riverboats, Harrah’s land casino in New Orleans and the four race-track casinos totaled $185.6 million in January. Gamblers lost … Continue reading →
Encana Corp. said Friday it plans to drill up to six more wells in the Tuscaloosa Marine Shale during the first half of the year after encouraging results from its first two in the oil-rich formation. Encana’s announcement comes a day after Devon Energy, which has completed two wells in the Tuscaloosa Marine Shale, said it plans … Continue reading →
First-time claims for unemployment insurance in Louisiana fell last week to 3,143 from the previous week’s total of 3,308. The state labor department figures released Friday show the four-week moving average, which is a less volatile measure of claims, decreased to 3,289 from the previous week’s … Continue reading →
NEW ORLEANS (AP) — The finance arm of General Electric Co. says it will open an information technology center in New Orleans employing 300 people. GE spokesman Andrew Williams said Friday that the jobs with GE Capital will pay up to $100,000. He said all the positions will be new hires. The center is expected to … Continue reading →
Encana Corp. said Friday it plans to drill up to six more wells in the Tuscaloosa Marine Shale during the first half of the year after encouraging results from its first two in the oil-rich formation. Encana’s announcement comes a day after Devon Energy, which has completed two wells in the Tuscaloosa Marine Shale, said it plans … Continue reading →
First-time claims for unemployment insurance in Louisiana fell last week to 3,143 from the previous week’s total of 3,308. The state labor department figures released Friday show the four-week moving average, which is a less volatile measure of claims, decreased to 3,289 from the previous week’s … Continue reading →
WASHINGTON — Capitol Hill negotiators Thursday officially unveiled hard-fought compromise legislation to prevent 160 million workers from getting slapped with a payroll tax hike, but it ran into turbulence in the Senate, where Republicans withheld support and several Democrats attacked it. The measure would also extend jobless benefits and is a top election-year priority … Continue reading →
WASHINGTON — Auto dashboards are becoming an arcade of text messages, GPS images, phone calls and web surfing, the government says, and it’s asking carmakers to curb those distractions when vehicles are moving. Manufacturers have been loading higher-end vehicles with built-in gadgets in an effort to tempt car buyers who want to multitask behind … Continue reading →