American Express profit beats Wall Street estimates
Company aims to keep annual operating expense growth at less than 3 percent for next two years as it revamps business
Found more than 1 month ago on channel CBS
Boston Business Starts Relief Fund
As the Boston Police keep a crime scene perimeter of about 12 blocks around Boylston Street, several businesses wait for guidance from authorities to decide when to open its doors. But the companies in the surrounding Boston area went back to work shell-shocked after two bombings hit spectators of the Boston Marathon on Monday.
Found more than 1 month ago on channel Abc News
Yahoo posts flat first-quarter revenue on declining display ad sales
SAN FRANCISCO - Yahoo Inc's first quarter revenue fell short of Wall Street targets and its display advertising business experienced declining sales for the second quarter in a row, sending the Internet company's shares down 4.2 percent.
Found more than 1 month ago on channel Reuters
Attention JC Penney Shoppers, Look Out for the Return of ‘Sales Galore’
After months of abysmal sales tallies, the Ron Johnson era is over at JC Penney. Now that Johnson’s “fair and square” no-coupons pricing policies have proved to be a failure, the department store will have to try something else to win back customers and stop the bleeding. But what? Mike Ullman, who was replaced as CEO when Johnson took over at JC Penney in 2011, and who began serving again as top executive when Johnson was pushed out, told the Wall Street Journal that he wasn’t planning on reverting to the old business model. “I wouldn’t recommend that we go back to the way J.C. Penney was when I left,” he said. “Things change.” And yet, in some ways the department store is clearly trying to resemble the JC Penney of old. Management has already announced that newspaper ads will feature coupons once again. Johnson seemed to find coupon usage distasteful and silly, likening it to a drug that consumers needed to be weaned off. A little over a year after JC Penney went “drug-free,” ...
Why Pension Funds Are Hooked on Private Equity
When President Obama unveiled his budget last Wednesday, it rekindled a debate over taxation of the private equity industry. Many executives in the private equity business (as well as the venture capital and hedge fund businesses) pay the capital gains rate on their earnings rather than the higher rate paid on ordinary income. Even though these industries make most of their money from the appreciation of assets — the definition of “capital gains” — the President, and many others, believe it is unfair that employees of these funds are able to pay the capital gains rate. After all, these execs are getting paid to manage these funds, not for risking their own capital. Of course, the private equity industry isn’t going to take such a tax hike lying down. According to Politico, the Private Equity Growth Capital Council recently sent a white paper to the House Ways and Means Committeer extolling the benefits of private equity for America’s pension funds. According to the paper: “Since ...