Email List
 

CEMETERY KEEPS CALLING DEAD MANPUPPIES DUMP ON SIDE OF ROADCHILD KILLED BY OWN SCHOOL BUSHIV OUTBREAK

Business News

Last Update on March 27, 2015 07:26 GMT

ECONOMY-THE DAY AHEAD

WASHINGTON (AP) -- The government will issue its third and final estimate of how fast the U.S. economy grew in the October-December period today when the Commerce Department releases the fourth-quarter U.S. gross domestic product.

Also today, the University of Michigan will release its monthly index of consumer sentiment for March.

JAPAN-ECONOMY

TOKYO (AP) -- Japan has reported lackluster inflation and wages data for February that suggest its economic recovery remains in the doldrums.

The government said Friday that core inflation was 2.0 percent in February, down from 2.2 percent in January. Excluding the impact of an April 2014 sales tax hike, inflation was flat.

Prime Minister Shinzo Abe has sought to spur growth through extreme monetary easing by the central bank that is meant to drive prices higher, prompting consumers and businesses to accelerate their spending.

But household spending fell 2.9 percent from a year earlier in February, while base wages slipped 1.9 percent, the 13th straight monthly decline. Sluggish wage growth has hurt consumers' purchasing power.

In a positive sign, unemployment fell to 3.5 percent in February from 3.6 percent the month before.

YAHOO-STOCK BUYBACK

NEW YORK (AP) -- Yahoo says it will buy back $2 billion in company stock as it prepares to spin off its stake in Chinese e-commerce company Alibaba.

Investors were pushing Yahoo to use some of the proceeds from the Alibaba spinoff to buy back stock, and the company had said it would keep buying back stock to return cash to shareholders.

The stock repurchase program will expire March 31, 2018. Yahoo has $726 million remaining on previous stock buyback plan, which was approved in 2013 and expires at the end of 2016.

In January, Yahoo Inc. said it will spin off its stake in Alibaba into a separate company later this year. The move will allow the new entity to pay lower taxes on Alibaba stock sales than Yahoo would have.

RADIOSHACK BANKRUPTCY

WILMINGTON, Del. (AP) -- A hearing on whether to approve the bankruptcy sale of assets of electronics retailer RadioShack is under way. It opened Thursday with the company seeking court approval of the purported winning bid, and an attorney for a losing bidder, Salus Capital Partners, describing the auction as a sham and asking a Delaware judge to reopen the sale process.

RadioShack, based in Fort Worth, Texas, says an offer valued at about $160 million from hedge fund Standard General LP was the best bid submitted in an auction that began Monday in New York and was suddenly reconvened in Wilmington, Delaware, after midnight Thursday, just hours before the court hearing.

Standard General's bid, which would keep 1,743 stores open and preserve about 7,500 jobs, consists mostly of credit on debt it is owed.

ARCTIC OIL DRILLING

WASHINGTON (AP) -- An Energy Department advisory council study says the U.S. should immediately begin a push to exploit its enormous trove of oil in the Arctic waters off of Alaska, or risk a renewed reliance on imported oil in the future.

The U.S. has drastically cut imports and transformed itself into the world's biggest producer of oil and natural gas by tapping huge reserves in shale rock formations. But the government predicts that the shale boom won't last much beyond the next decade.

In order for the U.S. to keep domestic production high and imports low, oil companies should start probing the Artic now because it takes 10 to 30 years of preparation and drilling to bring oil to market. The study's draft executive summary was obtained by the Associated Press.

The study, produced by the National Petroleum Council at the request of Energy Secretary Ernest Moniz, comes at a time when many argue the world needs less oil, not more. U.S. oil storage facilities are filling up, the price of oil has collapsed from over $100 a barrel to around $50, and prices are expected to stay relatively low for years to come.

NUKE REPOSITORY-REPORT

ALBUQUERQUE, N.M. (AP) -- Experts from national laboratories around the country have determined that an incompatible cocktail of nitrate salts and organic cat litter is to blame for a mishap that forced the closure of the nation's only underground nuclear waste repository.

The independent technical team released its report Thursday.

The team was charged by the U.S. Energy Department to investigate the chemical reactions that may have led to the release of radioactive material at the Waste Isolation Pilot Plant in February 2014.

The report comes more than a year after a single container of waste stored at the repository breached and contaminated 21 workers with low-level radioactivity.

The container came from Los Alamos National Laboratory.

While it couldn't determine the cause of the breach with absolute certainty, the team says it's clear a thermal reaction inside the container forced the lid to pop.

MONSANTO-CHEMICAL RELEASES

BOISE, Idaho (AP) -- Monsanto Co. has agreed to pay $600,000 in fines for not reporting hundreds of uncontrolled releases of dangerous chemicals at its eastern Idaho phosphate plant.

The U.S. Environmental Protection Agency and the U.S. Department of Justice on Thursday announced the agreement involving the biotechnology company's Soda Springs facilities.

Federal officials say the chemicals released are hazardous and can pose serious health risks.

Federal officials say the releases occurred between 2006 and 2009, with the plant emitting hydrogen cyanide, sulfur dioxide, nitrogen oxides and mercury. Companies are required to report such releases immediately.

The Soda Springs facilities are operated by P4 Production LLC, a wholly owned Monsanto subsidiary.

The company says in a statement that it cares deeply about public health and is committed to complying with applicable laws.

Advertise with us!

 
  • WPEC :: News - South Florida Business Report

    South Florida Business Report

    South Florida's only show devoted to the business community.
  • WPEC :: News - The Science of Selfies

    The Science of Selfies

    Why are "selfies" so compelling, enduring and ... annoying? CBS12 celebrates everything we love and hate about the Selfie -- the thousands of pics people take every day showing they were present at some ...
  • WPEC :: News - Border Crisis

    Border Crisis

    Get the latest developments on the border control crisis!
  • WPEC :: News - The Scene

    The Scene



  • WPEC :: News - CBS Fall Preview

    CBS Fall Preview

    Get a sneak peek at all of the new shows coming to CBS 12 this fall.
  • WPEC :: News - Question of the Day

    Question of the Day



  • WPEC :: News - 2014 Tony Awards

    2014 Tony Awards

    Top News, Videos, and Information on the 68th Annual Tony Awards.
  • WPEC :: News - Special Report

    Special Report

    Indepth coverage from CBS 12 News team of stories that matter to you.
  • WPEC :: News - Top Stories

    Top Stories

    Get up to the minute information from South Florida and the Treasure Coast in our Top Stories section!
  • WPEC :: News - South Florida Business Report

    South Florida Business Report



  • WPEC :: News - Around the Web

    Around the Web

     Catch up on the latest trending news and viral videos on the web.
  • WPEC :: News - Your Voice. Your Future.

    Your Voice. Your Future.

    As the country faces challenges from federal budget issues to jobs and national debt, your voice is critical to the future.
  • WPEC :: News - The Dwyer Awards

    The Dwyer Awards

    The William T. Dwyer Awards for Excellence in Education honors outstanding educators from public and private schools in Palm Beach County.


  • WPEC :: News - Fugitive Friday

    Fugitive Friday



  • WPEC :: News - Health & Wellness Experience

    Health & Wellness Experience

    CBS 12 and The Sun Sentinel are proud to present the first annual Health and Wellness Experience in partnership with Adcahb.
  • WPEC :: News - Wall of Justice

    Wall of Justice

    WPEC CBS 12 News turns its focus to crime in South Florida with weekly Most Wanted features and feedback sessions with Palm Beach County Sheriff Ric Bradshaw. Watch the latest segments Mondays at 5 p.m. ...
  • WPEC :: News - Sheriff 9-1-1

    Sheriff 9-1-1

    Palm Beach County Sheriff Ric Bradshaw and CBS 12 News team up to offer you a way to directly address your concerns about crime and law enforcement in Palm Beach County.

  • WPEC :: News - Road Trippin

    Road Trippin

    Come Road Trippin' with us!
  • WPEC :: News - In Your Corner

    In Your Corner

    CBS12 News has Florida Gov. Rick Scott "In Your Corner," answering your questions. Ask a question in the Facebook commenting window below or email it to newstips@cbs12.com.
  • WPEC :: News - Extraordinary People

    Extraordinary People



  • WPEC :: News - Trending with Tracy

    Trending with Tracy

    Tracy St. George, a South Florida DJ for WRMF, delivers the hottest celebrity news weekly on CBS12's Trending with Tracy.

  • WPEC :: News - Wednesday's Weather Kid

    Wednesday's Weather Kid

    Welcome to Wednesday's Weather Kid on CBS12's Good Morning South Florida! Here we let middle schoolers produce a "bus stop forecast" each Wednesday. Contact Robin Cross at rcross@cbs12.com for info on ...
  • WPEC :: News - Washington Times

    Washington Times

    Politics, Breaking News, US and World News.
  • WPEC :: News - Waste Watch

    Waste Watch

    How are your tax dollars being spent? Waste Watch tracks whether local, state and federal governments or any groups are using your money wisely...or wasting it.
  • WPEC :: News - Newscast Links

    Newscast Links

    Get links and contact information from items mentioned in our newscasts!
  • WPEC :: News - News Tips

    News Tips

    Do you have a lead on a good news tip or want to share a story idea? Let us know!
  • WPEC :: News - Raw News

    Raw News

    See the news as it happened, raw and unedited!
  • WPEC :: News - CBS 12 News LIVE Stream

    CBS 12 News LIVE Stream

    Watch LIVE CBS 12 newscasts and breaking news as it happens here!
  • WPEC :: News - Traffic Links

    Traffic Links

    Get links and information on traffic conditions, rail information and arrival and departure information for PBIA, MIA and FLL!
  • WPEC :: News - Sex Offender Mapping

    Sex Offender Mapping

    Search for any registered sexual offender or predator within a 5-mile radius of your home!
  • WPEC :: News - Product Recalls

    Product Recalls

    Get the latest recalls on autos, child safety seats, consumer products and FDA food and drugs recalls!
  • WPEC :: News - Forever Family

    Forever Family

    Watch videos and read stories of local people and families in need!
  • WPEC :: News - Live Feed

    Live Feed

    Watch the CBS News Live Feed for news stories as they happen!
  • WPEC :: News - Festival of Arts

    Festival of Arts

    Coverage of the Festival of the Arts in Boca Raton.
  • WPEC :: News - National and World News

    National and World News

    Get the latest headlines from across the nation and around the world.
  • WPEC :: News - Pet of the Day

    Pet of the Day

    Watch our "Pet of the Day" videos for adorable pets that need a loving home!
  • WPEC :: News - Pump Patrol

    Pump Patrol

    Find the lowest gas prices in West Palm Beach, get fuel saving tips, price trends and check out nationwide gas price averages!

more »

Tonight on CBS12

8 PM -- Amazing Race


9 PM -- Hawaii Five-0

10 PM -- Blue Bloods

Complete Schedule»