Business

Monday, 20 May 2013 17:23

Senate Probe Finds Apple Avoids Billions in Taxes

Written by Carmen Cox

Authors: Carmen Cox

Feng Li/Getty Images(WASHINGTON) -- A new Senate investigation has found that Apple Inc. has used a complex web of offshore companies – particularly three in Ireland – to avoid paying billions of dollars in U.S. income taxes.
Apple executives will visit Capitol Hill on Tuesday to respond to the findings contained in...

Published in Business

Monday, 20 May 2013 17:19

Stocks Clip Recent Rallies, Close Lower

Written by Carmen Cox

Authors: Carmen Cox

Hemera/Thinkstock(NEW YORK) -- Investors on Monday took a timeout from the bull market. Declining stocks in the same top-performing sectors pulled the markets down.
The Dow Jones Industrial Average lost 19.12 points, or 0.1 percent, closing at 15,335.28 Monday. The Nasdaq Composite closed off two points, or 0.1 percent, at...

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Monday, 20 May 2013 15:50

Domino’s Brazil Tests Smellvision in DVDs

Written by jc

Authors: jc

iStockphoto/Thinkstock(NEW YORK) -- If you’re traveling in Brazil, pop in a DVD and find yourself crazing pizza, then Domino’s has you right where they want you.
Domino’s independent franchisees in the South American country have partnered with an ad agency there to use DVDs embedded with the scent of pizza to lure in...

Published in Business

Monday, 20 May 2013 15:48

Three Easy Financial Lessons for Your Kids

Written by jc

Authors: jc

iStockphoto/Thinkstock(WASHINGTON) -- It's graduation season. Did your teenager have to take a financial literacy course to don that cap and gown? Probably not.

According to the Council for Economic Education, as of 2011, 22 states required high school students to take an economics class -- the "supply and demand" type, not the "how to...

Published in Business

Monday, 20 May 2013 13:14

Food Delivery Services GrubHub, Seamless to Merge

Written by jc

Authors: jc

GrubHub/Seamless(NEW YORK) -- It's late, you didn't have time to make dinner, and now you're in the mood for sushi. Chances are, you reach for your phone, fire up either the Seamless or GrubHub app, sort by restaurant, select your meal, place your order and wait for the delivery person to knock on your door.
Soon, those two food app...

Published in Business

Monday, 20 May 2013 09:39

Yahoo! Buys Tumblr for $1.1 Billion

Written by Jeanette Torres

Authors: Jeanette Torres

FRED DUFOUR/AFP/Getty Images(NEW YORK) -- Yahoo! is investing big time in social media. The company announced on Monday that it has purchased Tumblr, the popular blogging and social media network, for $1.1 billion in cash.
"I'm delighted to announce that we've reached an agreement to acquire Tumblr!," Yahoo CEO Marissa...

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Monday, 20 May 2013 06:25

Bomb Shelter Boom Sees Underground Pools, Basketball Courts

Written by Jeanette Torres

Authors: Jeanette Torres

iStockphoto/Thinkstock(NEW YORK) -- The latest real estate boom to sweep America comes with all the trappings of luxurious living: custom-built swimming pools, gyms, full-length basketball courts and even airplane hangars. The only catch is that this time, the features are all buried underground.
The boom in bomb shelter...

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Monday, 20 May 2013 06:36

Survey: US Economy Expected to Grow Through 2014

Written by Jeanette Torres

Authors: Jeanette Torres

Comstock Images/Thinkstock(NEW YORK) -- The economy is expected to pick up strength between now and the end of 2014, according to the latest outlook survey from the National Association for Business Economics (NABE).
"The panelists are estimating 2.4 percent growth in real GDP (gross domestic product) from the fourth quarter...

Published in Business

Sunday, 19 May 2013 16:28

Yahoo to Buy Tumblr for $1.1 Billion

Written by James Grebey

Authors: James Grebey

David Paul Morris/Bloomberg via Getty Images(SAN FRANCISCO) -- On Sunday, Yahoo’s board of directors approved the purchase of the social networking and blog site Tumblr for $1.1 billion, according to The Wall Street Journal.

Speculation that Yahoo would purchase Tumblr has been building for a while now, after Adweek report...

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Sunday, 19 May 2013 10:52

Winning Powerball Ticket Worth $590 Million Sold in Florida

Written by James Grebey

Authors: James Grebey

Scott Olson/Getty Images(ZEPHYRHILLS, Fla.) -- A single ticket matching all the numbers in Saturday's $590.5 million Powerball drawing was sold at a Zephyrhills, Fla., grocery store, according to lottery officials.