High-end versus low-end: How do you succeed in the grocery business?
Britain’s Tesco aimed for the low-end U.S. grocery market and crashed. New York’s Fairway chain went public, aiming at the higher end. Is there no middle ground?
Entrepreneurship declines as job market improves
NEW YORK - Fewer people are starting small businesses now that the job market is looking better. The number of companies started in 2012 fell along with the unemployment rate — a sign that people chose new jobs over launching their own companies, according to a study released Wednesday. The study by the Ewing Marion Kauffman Foundation estimated that there were 514,000 new business owners per mont...
Found 1 month ago on channel MSNBC
Alstom Executive Arrested at JFK
The U.S. arrested an executive of French engineering firm Alstom at New York's JFK Airport and charged him with participating in a bribery scheme to win business in Indonesia.
A Bentley Boom? Rising Sales for Luxury Automakers Like Bentley, Jaguar, Porsche
So much for scaling back. The world’s rich and elite — or those who just want to appear so — have been cracking open their wallets in a big way lately, and luxury automakers are the beneficiaries. Bentley Motors announced that sales in the first quarter of 2013 were up 26% globally compared to the same period last year. Sales in the Americas increased 35% for the same time frame. The automaker, which is known for high-price, high-end models like the new Flying Spur (MSRP from $200K), still has a very small portion of the auto market. Just 2,212 new Bentleys were delivered to customers worldwide during the first three months of 2013, compared to 1,759 the year before. Even so, Bentley isn’t a mass-market type of operation, and the automaker is on pace for what it would consider a huge year. In 2011, for example, global sales hit 7,003, a 37% increase over the previous year. This year, Bentley should easily top that 2011 sales total. More importantly, in terms of gauging the state ...
JPMorgan CEO: ‘Work to Do’ on Controls, Compliance
NEW YORK — JPMorgan Chase, the country’s biggest bank by assets, says its first-quarter earnings soared, even as revenue fell slightly. The bank made $6.1 billion in the first quarter, after stripping out payments to preferred shareholders. That was up 34 percent from the same period a year ago, when it made $4.6 billion. On a per-share basis, that amounted to $1.59. That blew away the estimates of analysts polled by FactSet, who had been expecting $1.39. Revenue and profit fell in its retail banking business, but increased in investment banking. JPMorgan funded $53 billion in mortgages, a jump of 37 percent from a year ago. But profits in the mortgage unit fell 31 percent, and the bank said profit margins were lower. Revenue was $25.8 billion, after stripping out the effect of an accounting charge. That beat analysts’ estimates of $25.7 billion, though it was down 3 percent from the same period a year ago. In many respects, it’s been a difficult year for the New York-based bank. ...