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Are consumers over golf?
Dick's Sporting Goods fired 400 of the PGA pros working in its stores as its golf business struggles. Golf survived the Great Recession, but does it have a future?
Dow 20K? Not before dumping 3,000 points
“It looks as if there is no end to the zero interest rates so the bubble is going to get ever bigger,” says Komal Sri-Kumar, senior fellow at the Milken Institute.
Up, up and away! Tech trading above bubble highs
Stocks like Microsoft and Cisco may sound old school, but some old time major tech plays are trading at levels not seen since the dot com bubble.
Why a Facebook earnings miss could be devastating
Facebook reports Q2 earnings after the close of trading Wednesday. Will the social media giant deliver?
Pity the poor Russian billionaire; Putin’s costing them...
Condo builders fuel land rush in Miami
MIAMI—At the height of the real-estate boom in 2006, Ugo Colombo, an Italian-born developer, bought a stake in an empty plot of land along the Miami River, facing Biscayne Bay, in a deal that valued the site at roughly $25 million. Last week, Mr. Colombo and his partners sold the same piece of land, now one of the last undeveloped waterfront parcels in downtown Miami, to an Argentine grocery-store magnate for $125 million. Miami is experiencing a land rush as condo builders move to grab what remains of the city's dwindling supply of prime unbuilt sites, driving values of undeveloped plots to record levels. It is the latest stage in a remarkable turnaround for the Miami condo market, where many of the 22,200 units built during the previous boom sat empty for years after the housing bubble burst.
NY Fed found serious problems at Deutsche Bank's U.S....
The Federal Reserve Bank of New York has found serious problems in Deutsche Bank AG's DBKGn.DE U.S. operations, including shoddy financial reporting, weak technology and inadequate auditing and oversight, people close to the matter told Reuters. In a letter to the German lender's executives last December, a senior official with the New York Fed described financial reports produced by some of the bank's U.S. divisions as "low quality, inaccurate and unreliable", said one of the sources, who is familiar with the letter. The New York Fed, as the U.S. central bank's eyes and ears on Wall Street, directly supervises the biggest U.S. and foreign banks, partly through embedded regulators who go to work each day inside the banks. "The size and breadth of errors strongly suggest that the firm's entire U.S. regulatory reporting structure requires wide-ranging remedial action," the letter, first reported by the Wall Street Journal, said.
PepsiCo raises profit forecast as North America snack...
PepsiCo Inc reported a higher-than-expected quarterly profit and raised its full-year adjusted earnings forecast, helped by strong sales of snacks such as Lays and Doritos chips in North America. Shares ...
Higher commercial jet deliveries boost Boeing's profit
Still, that was not enough for the company to beat Wall Street's average revenue estimate. Boeing's shares, which have gained 21 percent in the past year, were down 1 percent at $128.40 premarket on Wednesday. The company said commercial aircraft deliveries rose 7 percent to 181, including 30 Dreamliner jets, in the second quarter ended June 30. The company's ability to churn out Dreamliner jets is crucial to its financial performance this year as it is relying on commercial jets to offset a weak defense business.
Big banks reach out to poor Americans: Beware?
Big banks are pursuing low-income families with prepaid debit cards and low-cost banking.
Women business owners face gender gap, report says
Women who own small business are still far behind their male counterparts when it comes to getting loans and government contracts, a congressional report said Wednesday. The report by Democratic staffers ...
Why the economy may be worse off than you think
Since 2014 began, we’ve witnessed a steady drip of good economic news. Job growth has been somewhat strong, leading indicators have been trending higher and inflation has been tame. But could things be worse than we think?
The pizza joint that's crushing the competition
No matter how you slice it, Domino’s Pizza delivered some delicious earnings results topping Wall Street’s expectations. But is it too late to buy?
Tame inflation shows Yellen's Fed isn't 'behind the curve'
A muted consumer-price reading is validating Fed Chair Janet Yellen's patient approach to boosting interest rates.
Housing buoyed by 20-year high for vet’s loans
During his third deployment in Afghanistan, Air Force Staff Sgt. Claude Hunter was so eager to return to the U.S. and buy a house that he signed a contract for a property that his agent showed him over Skype. Hunter got back in time to close the deal, paying $219,000 in May for the four-bedroom Waldorf, Maryland, house that he financed with a U.S. Department of Veterans Affairs mortgage. "On Facebook, my friends have started posting: ‘I got my VA loan, I got my house,'" said Hunter, 31. America's fragile housing recovery is getting a boost from military buyers using VA mortgages as the U.S. draws down troops after more than a decade of combat in Iraq and Afghanistan.