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Stock indexes head higher in afternoon trading
The stock market turned higher Tuesday as investors banked on continued policy support from the Federal Reserve. Two big retailers also topped Wall Street expectations for the most recent quarter.
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Should we let wunderkinds drop out of high school?
It’s one thing to say tech geniuses don’t need degrees. After all, Bill Gates, Steve Jobs and Mark Zuckerberg all dropped out of college. But now we’ve got David Karp, who doesn’t even have a high school diploma. Karp, 26, founded Tumblr, the online blogging forum, and sold it to Yahoo for $1.1 billion.
Microsoft reveals Xbox One, next-generation gaming
Microsoft thinks it has the one. The company revealed the Xbox One, its next-generation entertainment console Tuesday. The console was demonstrated using voice control to switch among watching live TV, listening to music and browsing the Internet, as well as simultaneously running apps.
Apple’s Cook faces Senate questions on taxes
Apple’s CEO is disputing assertions by a Senate panel that the company avoids billions of dollars in U.S. taxes by shifting profits to foreign affiliates.
Expert: Summer gas costs likely lower than 2012
A Purdue University economist says he expects this summer’s gasoline prices to be lower than last year. Energy economics specialist Wally Tyner projects prices in the Midwest will be between $3.50 and $3.90 a gallon.
United in deal with SkyWest to run 40 Embraer jets
United Airlines has signed a deal that will have SkyWest Airlines run 40 Embraer planes under the United Express brand. The Embraer 175 is the first regional jet in the United Express fleet.
Special K churns out products in brand evolution
Special K first hit shelves in 1955 as a no-frills breakfast alternative but now caters to dieters who see its airy chips and pastries as a way to beat cravings and lose weight. And this summer, Kellogg Co. is building on its biggest moneymaker with a “hot cereal” called Special K Nourish that’s made with quinoa and other grains.
Warren Buffett meets with young entrepreneurs
Billionaire Warren Buffett is spending his day listening to business pitches from a select group of kids, but the ideas aren’t likely to generate new acquisitions for Buffett’s Berkshire Hathaway.
Seamless, GrubHub to combine
Rival online takeout services Seamless North America and GrubHub on Monday announced plans to combine and create a new company covering more than 20,000 restaurants in 500 cities across the U.S.
Small-company stocks take the limelight
Small companies are taking the limelight on a choppy start to the week. The Russell 2000, an index of small-company stocks, rose above 1,000 for the first time Monday. The index is outpacing the Dow Jones industrial average and the Standard & Poor’s 500 index this year.
Ben Bernanke forecasts gains from computer technology
Federal Reserve Chairman Ben Bernanke said Saturday that pessimists forecasting that the economy will not reap sizable benefits from the computer revolution are likely to be proven wrong.
Texas sues BP for damages related to oil spill
HOUSTON (AP) — Texas on Friday became the fifth state to sue British oil company BP over the 2010 Deepwater Horizon oil spill, seeking damages related to the worst offshore oil spill in U.S. history.
Falling yen to make Japan’s goods more affordable
Attention, bargain-hunters around the world: Japanese goods — from cars to televisions — are going on sale. Credit Japan’s drive to pump cash into its economy to stimulate growth. The extra money is helping shrink the value of the yen.
Bank of Montreal ordered to fix oversight lapses
Federal regulators are ordering the Bank of Montreal to take steps to correct lapses in oversight that could allow the bank to be used for money laundering.
Rising consumer demand aids organic industry sway
The organic food industry is gaining clout on Capitol Hill, prompted by rising consumer demand and its entry into traditional farm states. But that isn’t going over well with everyone in Congress.
Gauge of US economy’s future health up in April
A measure of the U.S. economy’s future health rose solidly in April, buoyed by a sharp rise in applications to build homes and a better job market.
