Archive for the ‘Business News’ Category
US jobs gap between young and old is widest ever
WASHINGTON (AP) — Squeezed by a tight job market, young Americans are especially struggling. They have suffered bigger income losses than other age groups and are less likely to be employed than at any time since World War II.
Facebook discloses details on bonuses
NEW YORK (AP) — Facebook’s top executives, including CEO Mark Zuckerberg, are eligible for twice-a-year bonuses of up to 45 percent of their base salaries and other earnings, according to a recent regulatory filing. Facebook Inc. said in a filing Wednesday it will pay Zuckerberg, 27, a base salary of $500,000 per year
Builders group sees pickup in housing this year
LOS ANGELES (AP) — The U.S. housing market will begin to mount a turnaround this year, building toward a solid recovery in 2013, according to a forecast issued Wednesday by the chief economist of a homebuilding industry trade group.
Diamond Foods names new CEO on audit results
SAN FRANCISCO (AP) — Diamond Foods Inc. said Wednesday it is replacing its CEO and chief financial officer after an internal investigation found that the company improperly accounted for payments to walnut growers and it needs to restate two years of financial results. The news sent shares of the San Francisco-based company plummeting more than 43 percent in after-hours trading.
Lawsuit seeks to block Google’s privacy changes
SAN FRANCISCO (AP) — A consumer watchdog group is suing the Federal Trade Commission in an attempt to prevent Google from making sweeping changes to its privacy policies next month. The planned revisions would enable Google to bundle the personal information gathered by its Internet search engine and other services so the company can gain a better understanding of its users and potentially sell more advertising.
Groupon reports 4Q loss, higher revenue
NEW YORK (AP) — Groupon investors were expecting a better deal than the surprise loss the company delivered on Wednesday. The online deals site, reporting for the first time as a public company, said its fourth-quarter revenue nearly tripled, but it lost money and its shares fell sharply after hours.
