Sears Accelerates Store Closings

  Sears Accelerates Store Closings By Burt Carey Sears, an American icon of department stores, announced this week that it will accelerate the planned closings of stores in 50 locations, following poor fourth quarter sales. With holiday season sales figures falling short of expectations, Sears reported sales of $7.3 billion in the fourth quarter of […]

Alphabet (Google) Overtakes Apple As World’s Most Valuable Company

  Alphabet (Google) Overtakes Apple As World’s Most Valuable Company By Burt Carey After-hours trading pushed Alphabet shares 6 percent higher than their close on Monday, elevating Google’s parent company past Apple to become the world’s most valuable corporation. Alphabet’s market cap reached $547.1 billion shortly after the opening bell Tuesday, surpassing Apple’s cap of […]

Home Prices and Sales Increase in December

  Home Prices and Sales Increase in December By Burt Carey Home sales and prices in the U.S. recovered in December following November sales that had analysts concerned about a possible slowing economy. The National Association of Realtors reported a 14.7 percent jump in existing home sales in December, putting the country on pace to […]

Univision Buys Large Stake in Satirical Site “The Onion”

  Univision Buys Large Stake in Satirical Site “The Onion” By Burt Carey This one’s not a joke. Aiming to attract millennials to its audience, Hispanic media giant Univision announced on Tuesday that it has purchased a controlling interest in the online satirical publication TheOnion.com. In typical Onion fashion, no such news was reported on […]

Crude Oil Plunges Below $30 a Barrel — And Could Go Lower

  Crude Oil Plunges Below $30 a Barrel — And Could Go Lower By Burt Carey Crude oil prices Tuesday dipped below $30 a barrel, having plunged 72 percent since June 2014 and marking its lowest point in 13 years. Where does it go from here? No one really knows, but industry analysts, oil traders […]

U.S. Gun Sales Continue to Surge

  U.S. Gun Sales Continue to Surge By Burt Carey President Barack Obama stepped up to a podium at the White House Tuesday to announce executive actions that would restrict some gun sales in the United States, just one day after the FBI reported a record number of background checks were conducted in 2015. Firearms […]

Saudi Economic Moves Indicate Oil Prices Will Stay Low Into 2016

  Saudi Economic Moves Indicate Oil Prices Will Stay Low Into 2016 By Burt Carey Saudi Arabia’s budget moves this week signaled the kingdom’s willingness to allow low oil prices to remain in place into 2016. In a news conference Monday, Saudi Aramco Chairman Khalid al-Falih indicated that the Saudi Arabian government’s choice is to […]

November Sales of Existing Homes Plummets

November Sales of Existing Homes Plummets By Burt Carey Sales of existing homes plummeted 10.5 percent in November, the largest such decline since July 2010, according to the National Association of Realtors. The decrease could be an ominous signal that the U.S. economy is slowing as the seasonally adjusted annual rate of sales is now […]