Roberta Abraham

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Ukraine raises interest rates to 30%

<b>Ukraine's central bank has sharply raised interest rates from 19.5% to 30% in an effort to curb inflation and prop up its beleaguered currency.</b><p>The new benchmark refinancing rate takes effect on Wednesday.<p>It comes as the government in Kiev is seeking a $17.5bn (£11.4bn; €15.6bn) assistance programme …

Investors pull $8.6 billion from Pimco Total Return Fund in February

NEW YORK (Reuters) - Investors yanked another $8.6 billion from the Pimco Total Return Fund last month, Pimco said on Tuesday in the latest indication the firm’s flagship fund is still reeling from the sudden departure of co-founder Bill Gross last September.<p>February’s outflow, the 22nd straight …

IKEA launches furniture with inbuilt wireless chargers for cellphones, tablets

Lost that charger again for your cellphone or tablet? Hate sorting heaps of wires to charge various devices?<p>Swedish retailer IKEA might just have the answer — furniture with built-in charging spots, including in bedside tables, lamps and desks.<p>The new collection will be available in Europe and …

Wireless Charging

Buffalo's $1 homes aren't as cheap as they seem

Paying $1 for a house may seem too good to be true -- and, in many cases, it is.<p>In Buffalo, New York, the city is selling vacant properties for a buck to those willing to fix them up and live in them for a few years.<p>Buffalo's Urban Homesteading Program, which has been around for almost four decades …

Real Estate

Top CEOs have best sales expectations in three years, survey says

Chief executives at the largest U.S. companies are more optimistic about the state of the economy, and their outlook for sales over the next six months is the best in three years, according to a new survey.<p>Expectations for capital spending and hiring also increased, according to the quarterly …

Alibaba Now Offers Payment Protection, Financial Lending To Buyers

Alibaba, China’s biggest online commerce company and the world’s fastest growing e-commerce marketplace, unofficially launched their Trade Assurance Program during ASD Market Week, the largest, most comprehensive trade show of its kind that welcomes over 45K attendees bi-annually. Officially, this …

Best Buy is not the next RadioShack

Best Buy is not RadioShack. It's turnaround is legit.<p>Shares of Best Buy (BBY) were up 2% Tuesday morning after the company reported fourth quarter earnings that topped forecasts and a solid jump in same-store sales.<p>The big sellers during the holidays? Big TVs and smartphones. Best Buy definitely …

McDonald's is going to pay former CEO Don Thompson 3 times as much as his replacement

But McDonald's will pay Thompson $3 million for "consulting services," according to a report by CNBC. His replacement, Steve Easterbrook, will earn a salary of $1.1 million.<p>Thompson retired on March 1 after 25 years with the fast-food chain.<p>He spent much of his tenure trying to revive sales in the …

Target forecasts fiscal-year profit growth, $2 billion for share buybacks

(Reuters) - U.S. retailer Target Corp on Tuesday said it planned to cut several thousand jobs, mainly from headquarters locations, as part of a restructuring that will cut $2 billion in costs over two years.<p>A Target logo is seen during the going-out-of-business sale at Target Canada in Toronto, …

Sluggish February U.S. car sales blamed on blustery weather

DETROIT (Reuters) - For the second year in a row, ferocious winter weather slowed U.S. vehicle sales in February, causing the major automakers to miss analysts’ bullish projections.<p>Six of the top seven manufacturers on Tuesday reported year-to-year sales increases in February, but all fell short of …

Citigroup to sell OneMain Financial to Springleaf for $4.25 billion

• 1. To license Fortune articles, excerpts, or headlines for republication in various media (including books, eBooks, film, web, newsletters, …

FCC head defends Internet neutrality rules on the road

NEW YORK (AP) — The head of the Federal Communications Commission is taking the defense of new Internet regulations on the road.<p>Speaking at the …

IRS budget cuts could endanger U.S. tax system: Treasury

WASHINGTON (Reuters) - The Obama administration warned Congress on Tuesday that years of budget cuts to the country’s tax collection agency could create a big fiscal headache.<p>Congress has slashed the budget for the Internal Revenue Service (IRS) by 10 percent over the last five years, hurting the …

US stocks fall a day after Nasdaq passes 5,000 milestone

BEIJING (AP) — Asian stock markets were mostly lower Wednesday after Wall Street declined and investors looked ahead to U.S. economic data and …

Oculus VR hires Google X exec Mary Lou Jepsen

Facebook-owned Oculus VR has hired<p>GoogleX executive Mary Lou Jepsen to join the virtual reality company, an Oculus spokesman confirmed Tuesday.<p>Jepsen spent the last three years running the Display Division at Google X, a research arm of Google dedicated to making major technological advancements. …

Women-led companies perform three times better than the S&P 500

You’ve heard that companies with women executives at the helm tend to perform better than those led by men— and a new study furthers that claim, …

Coke pulls Fanta ad over Nazi controversy

Coca-Cola has pulled a recent ad over controversy related to Nazi Germany, Consumerist reports.<p>The German-language ad was meant to celebrate the 75th …

Casper: The friendliest mattress sellers

If you’ve ever experienced shopping for a mattress in the US, you’ll empathize with Casper‘s lament.<p>“Buying a mattress is just like buying a used car,” observes Casper co-founder and head of product design, Jeff Chapin. “We’re not interested in the quick sale, we want to change the whole …

Auto Makers Gear Up to Take On the Challenge From Google and Apple

Industry’s old school moves to introduce technology to rival Silicon-Valley competitors<p>GENEVA—For those wondering whether old-school auto makers are up to the threat posed by emerging competitors Google Inc. and Apple Inc., look no further than Audi AG’s R8.<p>On the first day of the Geneva …

Silicon Valley

Stocks: Dow off 100-plus, Nasdaq under 5000

Stocks ended down Tuesday, with the Nasdaq stumbling back below that magical 5000 threshold as investors took profits ahead of economic reports later in the week.<p>The Nasdaq composite ended down 0.6% -- about 20 points below 5000. The benchmark had finally crossed that level at the market close …