National Business Update
Latest business news from around the nation
UN nuclear chief : Deal with Iran reached on probe
Despite some remaining differences, a deal has been reached with Iran that will allow the U.N. nuclear agency to restart a long-stalled probe into suspicions that Tehran has secretly worked on developing nuclear arms, the U.N. nuclear chief said Tuesday. The news from International Atomic Energy Agency chief Yukiya Amano, ...
Eurozone warned 'severe recession' looming
The 17-country eurozone risks falling into a "severe recession," the Organization for Economic Cooperation and Development warned on Tuesday, as it called on governments and Europe's central bank to act quickly to keep the slowdown from dragging down the global economy. OECD Chief Economist Pier Carlo Padoan said the eurozone ...
UK inflation falls sharply to 3 percent in April
Official data shows that consumer price inflation in Britain fell to 3 percent in April, a bigger drop than expected and the lowest since February 2010. Consumer inflation was 3.5 percent in March. The Office for National Statistics said Tuesday that clothing and footwear prices rose by just 0.2 percent ...
Organizers: Don't mess with the Olympic brand
One day, the small espresso shop near the site of the London Games was the "Olympic" cafe. The next day, it was the "Lympic." So where did the "O'' go? The manager won't say. But it's more than likely the small business became another casualty in the battle against guerrilla ...
Revived focus on regulation after JPMorgan loss
Federal regulators and lawmakers are renewing the focus on financial regulation in the wake of a multibillion-dollar trading loss at JPMorgan Chase & Co. News of the surprise loss at JPMorgan, the biggest U.S. bank by assets, has revived calls by Obama administration officials and Democratic lawmakers for tougher oversight ...
Romney's Bain playbook unclear as attacks grow
The core of his presidential candidacy under attack, Mitt Romney has yet to shape a playbook to defend a quarter-century in the business world that created great riches for himself and great hardship, at times, for some American workers. Romney and his aides have struggled to respond consistently to intensifying ...
Economists more upbeat about job growth, housing
A new survey shows economists are growing slightly more optimistic about recovery in the job and housing markets but expect other pillars of the economy to remain weak. The National Association for Business Economists says in a report issued Monday that its forecasters expect modest growth for the remainder of ...
Ore. track coach takes student to prom, loses job
The daughter-in-law of Nike co-founder Bill Bowerman has been dismissed as a volunteer track coach at a small Eastern Oregon high school because she escorted a 17-year-old boy to the prom. Melissa Bowerman, 41, who had been coaching the Condon/Wheeler track and field team with her 73-year-old husband, Jon Bowerman, ...
Eaton buying Cooper Industries in $11.46B deal
Eaton Corp. has agreed to purchase Cooper Industries PLC in a cash-and-stock deal valued at about $11.46 billion that is designed to expand its reach in the global electrical power and distribution industry. The deal announced Monday would create a company that manufactures products for a wide range of electrical ...
2 key proxy firms urge shareholders oppose CEO
Two leading proxy adviser firms are telling Wal-Mart shareholders to vote against certain board members up for re-election next week, saying the directors neglected their responsibility in an alleged bribery scheme in Wal-Mart's Mexican operations. The firms ISS and Glass Lewis & Co Inc. recommended in separate reports that their ...
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