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'Big big' problems on Greek deal as eurozone warns: no reform, no cash

Eurozone officials criticise 'amateur' Greek finance minister Yanis Varoufakis, warning that time is running out to stop Greece going bankrupt

Time is running out for Greece, officials have warned at a crucial eurozone meeting in which finance minister Yanis Varoufakis was heavily criticised for …


Starbucks reports register outage in stores in US, Canada

A computer outage hit thousands of Starbucks stores, and some gave away free drinks before many closed early to the dismay of caffeine-craving patrons.

The company said the outage was resolved Friday night after several hours. It affected registers at 7,000 company-operated stores in the U.S. and …


Stocks: Nasdaq, S&P 500 close at new records

The Nasdaq composite looks to build on its gains Friday after hitting a new closing high in the previous session, 15 years after its last peak in March 2000.

Ahead of the 9:30 a.m. ET opening bell, futures for the Nasdaq are up 0.7% Dow and S&P 500 futures are up slightly.

After Thursday's closing …


Tesco hires brand director to turn around scandal-plagued image

Tesco has hired a new brand director to try to turn round the battered image of Britain’s biggest retailer.

Michelle McEttrick, who will join the supermarket chain on 18 May, previously worked at Barclays for four years but left the bank a year ago, according to her profile on LinkedIn.

Before …


Abercrombie & Fitch Is Ditching Its Shirtless Models

The store is revamping its image in the face of declining sales

It’s time to take the abs out of Abercrombie & Fitch.

The retail store that once felt like a strange nightclub full of oddly attractive patrons is actually going to be, well, just a normal clothing store, thanks to new rules by …

Caribbean Economies Face Peril as Coral Reefs Decline

Swim out into the turquoise waters of the Caribbean, just beyond where the sandy sea floor gives way to massive rock formations, and a decades-long transformation has become apparent. Where a vibrant coral reef should be, there is a vast, colorless surface of almost nothingness.

Years of …

Coral Reefs

Meet the eccentric president of Liberland, the world's newest micronation

The president of Liberland, the world's newest micronation, is as much of a mystery as his country.

Vít Jedlička is a politician frustrated with the politics of his native Czech Republic. He is long on ideas, but short on how to implement them.

Jedlička ran several times for office in his native …

Czech Republic

Chesapeake to pay $25 million to settle Michigan charges

Chesapeake Energy Corp. has agreed to pay $25 million to settle antitrust allegations made by Michigan’s attorney general, as well as complaints that it misled hundreds of landowners to obtain leases in the state.

Michigan Attorney General Bill Schuette filed criminal charges against the company …


HSBC departure would be a 'blow to Britain'

If HSBC left Britain it would deal the country a psychological as well as financial blow, according to an academic.

The world’s third biggest bank and the largest outside China, it has $2.6trn (£1.7trn) of assets and its tax bill in Britain last year, including corporation tax, national insurance …

United Kingdom

South Korea’s chaebol problem

Eom Ha-yong is old enough to remember a time when South Korea’s enormous conglomerates were as respected as they were powerful.

He was born in 1949, a few years after Korea was carved into North and South by the Cold War superpowers and one year before 10 per cent of the population would perish in …


Stocks rise on tech companies’ earnings

NEW YORK — Stocks advanced slightly Friday as investors cheered the quarterly results of three large technology companies: Google, Microsoft and Amazon.

The modest gains helped close out a relatively strong week for stocks, with the three major indexes rising between 1.4 and 3.2 percent in five …


What could McDonald's do to fix its business?

Latest News


NEW YORK (AP) -- When it comes to McDonald's, everyone seems to have an opinion about what the company needs to do differently.

After turning in another quarter of sliding sales and profit, McDonald's CEO Steve Easterbrook said the chain will unveil initial details on a plan …


CVS Health Prepares its Business for the Cultural Demographic Shift

Lou Mercado has more than twenty years of experience in turnaround, start-up and fast-paced environments, where he has driven organizational improvements and implemented best practices in a diverse number of areas: supply chain, retail, logistics, inventory management and operations. Today, as the …


Billionaires versus big oil

A growing number of the world’s wealthiest people, From both ends of the political spectrum, are banding together to bet on new technologies that could displace fossil fuels. The one thing they have in common? They believe it will make them a lot of money.

Ward McNally never intended to become a …


How London man may have helped trigger the 'flash crash'

NEW YORK (AP) — He operated from a modest suburban London home he shared with his parents, far from the city's glamorous financial center. He used off-the-shelf software anyone can buy.

Yet, if U.S. authorities are correct, Navinder Singh Sarao, 36, managed to send a jolt of fear through the world's …

Flash Crash

Why Shares of Microsoft Corporation Surged Today

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Microsoft jumped on Friday after the company beat analyst expectations for both revenue and earnings …

Microsoft Windows

Baby Boomers face financial anxiety, 'giganomics'

Gabriella Barthlow, 52, totally gets it when people talk about the financial anxiety some people 50 and older are feeling.

While the recession is over, Barthlow says some people who should feel good about the prospects of retirement are fearful because they're stuck stringing together a variety of …


McLaren’s most affordable new coupe

McLaren Automotive

Hunks Need Not Apply: Abercrombie Loosens Its Hotties-Only Hiring Practices

You no longer have to show your abs to work at Abercrombie or Hollister.

For years, working at Abercrombie & Fitch had one particularly stringent requirement: You had to be totally hot. Today, the youth-obsessed apparel retailer announced that this policy is changing.

According to The Washington …


Tesla’s Billionaire CEO Elon Musk Works for Peanuts

Musk has paid himself California’s minimum wage for the past two years, but he only kept $1 and returned the rest to the company. It appears he did the same this year.

Elon Musk

Own a piece of Wall Street

CNBC's Kate Rogers reports on the popularity of real estate crowdfunding deals. Right now only accredited investors can actually participate in equity crowdfunding.

Wall Street

Fitch cuts rating on Tesco to junk territory

Fitch Ratings has cut its rating on Tesco PLC (TSCO.LN) by one notch, pushing Britain's biggest retailer into junk territory. Fitch said its downgrade to double-B-plus from triple-B-minus "reflects a weakening outlook for the group's near term profitability in its core U.K. operations relative to …


Eurozone hopes Greek criticism will bear fruit

RIGA, Latvia (AP) — Greece's European creditors expressed the hope Saturday that the criticism the country's finance minister faced over his failure to present an economic reform plan on time will prompt a positive response soon.

In the Latvian capital of Riga, the eurozone's top official, Jeroen …


Marvell Technology says PC and storage weakness hurt its 1st-quarter revenue, and shares slide

NEW YORK – Chipmaker Marvell Technology slashed its revenue forecasts Friday, saying weak results from the PC and storage markets and reduced demand from emerging markets are hurting its business.

The company now expects to report $710 million to $740 million in revenue, far below its previous …

Hong Kong

Ford recalls 390,000 cars; doors may not latch properly and could fly open on road

DETROIT – Ford is recalling about 390,000 cars because the doors may not latch properly and could open while the cars are in motion.

The recall covers certain Ford Fiestas, Ford Fusions and Lincoln MKZ cars from the 2012 through 2014 model years that were made in Mexico.

The automaker says a part in …


Flashback Friday: Nasdaq hits highest point since 2000

The tech-heavy index’s recent gains have it trading at levels not seen since the dot-com bubble burst 15 years ago.

It’s looking a lot like 2000 for the Nasdaq composite, which again hit 15-year intraday highs on Friday on the way to its second-straight record close.

A handful of major technology …


Starbucks Stores Give Out Free Drinks During Widespread Register Outage

A widespread systems outage affecting registers throughout the nation forced numerous Starbucks locations to give away free drinks Friday before closing stores early.

The company said the outage affected 7,000 stores in the U.S. and 1,000 in Canada. It did not explain exactly what caused the outage, …


Bitcoin regulation is coming to New York

There's a new regulator in town.

Daniel Roberts at Fortune reports that Benjamin Lawsky, superintendent of the New York Department of Financial Services, is putting the finishing touches on BitLicense, a policy that "will require digital currency companies to obtain a license in order to transmit …

Jamie Dimon

Top 10 New York Stock Exchange-traded stocks posting largest percentage decreases

NEW YORK – A look at the 10 biggest percentage decliners on New York Stock Exchange at the close of trading:

DeVry Education Group Inc. fell 18.3 percent to $30.70.

Trinity Industries Inc. fell 14.0 percent to $28.70.

Emerge Energy Services LP fell 11.8 percent to $44.65.

ResMed Inc. fell 10.5 percent …


Nobel Economist Joseph Stiglitz Misdiagnoses Inequality And The Cause Of Middle-Class Woes

In an interview posted on yesterday, Nobel Prize-winning economist Joseph Stiglitz spoke about growing economic inequality and America’s shrinking middle class. Agreed, these are challenging and discouraging times for many, but as has happened before, Mr. Stiglitz provides a faulty …


Utilities companies shares up at the close of trading

NEW YORK – Shares of some top utilities companies were up at the close of trading:

American Electric Power Co. rose $.98 or 1.7 percent, to $57.88.

Consolidated Edison Inc. Holding Co. rose $.40 or .6 percent, to $62.50.

Dominion Resources Inc. rose $.34 or .5 percent, to $73.54.

Duke Energy Corp. rose …


Starbucks: Computer outage fixed; stores to reopen Saturday

SEATTLE (AP) — Starbucks says a computer outage that affected registers at 8,000 company-operated stores in the United States and Canada has been resolved. The coffee chain said late Friday night that stores are expected to open for "business as usual" on Saturday.

The company said the outage …


Top 10 New York Stock Exchange-traded stocks posting largest volume increases

NEW YORK – A look at the 10 biggest volume gainers on New York Stock Exchange at the close of trading:

American Realty Investors Inc. : Approximately 18,100 shares changed hands, a 947.8 percent increase over its 65-day average volume. The shares fell $.75 or 13.5 percent to $4.81.

CenterCst …


NHTSA updates recall website after probe

If you've used the National Highway Traffic Safety Administration's website to check whether your car needs work related to the Takata airbag recalls, you may want to check again.

In the wake of a investigation, NHTSA has updated its online tool, which we found wrongly identified cars …


Greek parliament okays controversial cash reserve transfer

Athens (AFP) - Greece's parliament adopted a controversial decree ordering all public institutions to hand over their cash reserves to the central bank to help Athens meet its financial obligations.

The decree was adopted by the ruling Syriza party and its junior partner ANEL by 156 votes in favour …

Public Finance

'Inconsistency' in air passenger duty refunds

Parents due partial refunds on their children's air tickets face a variety of ways to claim the money.

Air passenger duty (APD) for children under the age of 12 on economy travel will be abolished from 1 May.

That means some passengers who have already booked and paid for flights that take off after …