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KDKA Business: Congressional Operating Costs Balloon To $6.5M

Tue, 06 Jan 2009 11:58:29 -0500

The government estimates it will spend $6.5 million by the end of January in salaries and other administrative costs for the $700 billion financial rescue program.

KDKA Business: Stocks Turn Mixed On Service Sector News

Tue, 06 Jan 2009 11:21:50 -0500

Stocks pared their earlier gains Tuesday following disappointing readings on pending home sales and factory orders.

KDKA Business: Factory Orders Slide For Record 4th Straight Month

Tue, 06 Jan 2009 10:49:50 -0500

Orders to factories fell for a record fourth straight month in November, and analysts believe manufacturing will continue to suffer in coming months as the country slogs through a recession entering its second year.

KDKA Business: Toyota's Japan Plants To Shut Down For 11 Days

Tue, 06 Jan 2009 09:32:07 -0500

Toyota is suspending production at all 12 of its Japan plants for 11 days over February and March, a stoppage of unprecedented scale for the nation's top automaker as it grapples with shrinking global demand.

KDKA Business: Russia Cuts Gas Supply To Europe

Tue, 06 Jan 2009 06:46:58 -0500

Ukraine's gas company Naftogaz said Tuesday that Russia's Gazprom slashed natural gas shipments to Europe by about two-thirds, while Balkan nations reported a complete shut off of Russian gas, in a sharp escalation of a struggle over energy that threatens Europe as winter sets in.

KDKA Business: Tough Economy Has More People Choosing Cremation

Tue, 06 Jan 2009 01:10:46 -0500

Never have urns looked more attractive to consumers than now. Many Americans strapped for cash are looking for a cheaper way to go. The Casket and Funeral Supply Association of America says sales of caskets are down, and the sales of urns are up.

KDKA Business: Treasury Provides $15B From Bailout Pot To 7 Banks

Mon, 05 Jan 2009 17:04:47 -0500

The government says it has supplied another $15 billion to seven banks in the latest round of payments from the $700 billion rescue fund.

KDKA Business: U.S. Govt To N.Y. Judge: Jail Madoff Without Bail

Mon, 05 Jan 2009 16:14:40 -0500

Prosecutors on Monday said disgraced financier Bernard Madoff violated bail conditions by mailing about $1 million worth of jewelry and other assets to relatives and should be jailed without bail.

KDKA Business: Automaker Sales Continue Dismal Slide

Mon, 05 Jan 2009 16:10:40 -0500

By every measure, 2008 was one of Detroit's worst years on record, reports CBS News business correspondent Anthony Mason. Chrysler's sales went off a cliff, plunging by 30 percent in 2008. Ford and General Motors were each down more than 20 percent.

KDKA Business: Ford's U.S. Sales Drop 32 Percent In December

Mon, 05 Jan 2009 15:59:56 -0500

Ford Motor Co.'s U.S. sales plummeted 32 percent in December and Toyota Motor Corp.'s fell 37 percent as car and truck buyers continued to steer clear of showrooms due to the dismal economy. Ford's sales for 2008 fell 21 percent from a year earlier, keeping the Dearborn automaker in third place in the U.S. auto sales race, falling behind Japan's Toyota for the second straight year.

KDKA Business: NY Times Debuts Front-Page Ad; New Revenue Source

Mon, 05 Jan 2009 11:56:53 -0500

The New York Times, facing falling ad revenue like other newspapers, became the latest paper Monday to run graphical advertising on its front page. The Times already has been selling such ads on the front pages of its business and other sections since 2006, and it has run tiny classified text ads on the front of its main section before.

KDKA Business: DTV Subsidy Program About To Run Out Of Money

Mon, 05 Jan 2009 11:14:53 -0500

The Feb. 17 transition from analog to digital television broadcasts looms and as many as 8 million households are still unprepared, but the government program that subsidizes crucial TV converter boxes is about to run out of money. To subsidize the converter boxes, the government has been letting consumers request up to two $40 coupons per home. But any day now, the National Telecommunications and Information Administration expects to hit a $1.34 billion funding ceiling set by Congress.

KDKA Business: Apple's Steve Jobs Says He Has A Hormone Imbalance

Mon, 05 Jan 2009 10:49:01 -0500

Apple Inc. founder and Chief Executive Steve Jobs, a survivor of pancreatic cancer, said Monday that a hormone imbalance is to blame for the weight loss that has prompted worries about his health.

KDKA Business: Stocks Mixed After Last Week's Rally

Mon, 05 Jan 2009 10:46:07 -0500

Wall Street gave back some of last week's huge gains Monday but found encouragement from a government report that construction spending fell less than forecast.

KDKA Business: House To Grill SEC About Madoff Oversight

Mon, 05 Jan 2009 06:38:18 -0500

An investigation of the Security and Exchange Commission's failure to uncover the alleged $50 billion fraud involving Wall Street figure Bernard Madoff will extend broadly to its enforcement operations, the SEC inspector general said Monday.

KDKA Business: Many Stores Continuing Holiday Sales

Sun, 04 Jan 2009 21:42:09 -0500

The holidays may be over but the sales around the holidays are still lingering in many stores, especially as some struggle to stay open.

KDKA Business: Wall Street Braces For 2009's First Full Week

Sun, 04 Jan 2009 21:07:04 -0500

Wall Street will open for trading Monday at a two-month high as investors have grown more optimistic that the worst of the market's rout might be over. But, analysts contend, the real test is still to come.

KDKA Business: Wall Street Gears Up For 2009's First Full Week

Sun, 04 Jan 2009 16:37:56 -0500

KDKA Business: Madoff Victims Selling Memorabilia On eBay

Sun, 04 Jan 2009 16:36:33 -0500

Did you get fleeced by Bernard Madoff? Or did you buy that Madoff Securities fleece jacket on eBay? Madoff, who was arrested last month after allegedly telling investigators he lost as much as $50 billion of investors' money in a giant Ponzi scheme, promoted his firm by putting its name on everything from T-shirts to beach towels, tote bags and umbrellas.

KDKA Business: Recession To Steal Some Glitz From Gadget Show

Sun, 04 Jan 2009 13:09:49 -0500

The International Consumer Electronics Show, the largest trade show in the U.S., opens this week in Las Vegas with a full slate of giant TVs and inventive gadgets, despite the pall of a recession hanging over the industry.

KDKA Business: Obama: Country Needs Economic Stimulus Plan

Sat, 03 Jan 2009 11:00:24 -0500

President-elect Barack Obama urged congressional leaders Saturday to move quickly on an economic recovery plan, even as some Republicans are saying they want more time to review the details.

KDKA Business: Obama Team Preparing To Present Stimulus Plan

Sat, 03 Jan 2009 00:54:20 -0500

President-elect Barack Obama's transition team is putting the finishing touches on an economic recovery plan that could run from $675 billion to $775 billion. Briefings for top congressional Democratic officials are likely this weekend or on Monday, a senior transition official said Friday.

KDKA Business: Autos Brace For Chilling December Sales Report

Fri, 02 Jan 2009 23:36:20 -0500

The good news for the auto industry in December came when General Motors and Chrysler got their federal bailout. The bad news is coming Monday, when automakers are expected to report another month of staggering sales declines.

KDKA Business: Financial Experts Look Ahead To 2009

Fri, 02 Jan 2009 20:23:11 -0500

Every year, two well-recognized financial advisors join Money Editor Jon Delano on the Sunday Business Page -- both to tell us what happened during the past year in the market -- and to predict the future.

KDKA Business: Steel Industry Wants Inclusion In Stimulus Plan

Fri, 02 Jan 2009 20:10:25 -0500

With the American auto industry struggling to survive, could the American steel industry be far behind? Through much of last year, the American steel industry was doing quite well. And then the bottom fell -- leading to layoffs and growing concerns about the future of this key domestic industry.

KDKA Business: Facebook's Nudity Rule Irks Breastfeeding Moms

Fri, 02 Jan 2009 20:03:34 -0500

Some mothers are fighting back against Facebook's policy of banning breastfeeding pictures. The women are taking part in an online activity known as "virtual nurse in's."

KDKA Business: Wikipedia Meets $6 Million Fundraising Goal

Fri, 02 Jan 2009 19:52:20 -0500

The nonprofit foundation that runs Wikipedia, the popular online encyclopedia of user-contributed articles, said Friday it has met its $6 million fundraising goal for fiscal 2008.

KDKA Business: Wal-Mart, Historians At Odds Over Civil War Site

Fri, 02 Jan 2009 19:26:16 -0500

Wal-Mart wants to build a Supercenter within a cannonshot of where Robert E. Lee and Ulysses S. Grant first fought, a proposal that has preservationists rallying to protect the key Civil War site.

KDKA Business: Less Driving, Gas-Buying Spur Call For Tax Boost

Fri, 02 Jan 2009 19:17:24 -0500

Motorists are driving less and buying less gasoline, which means fuel taxes aren't raising enough money to keep pace with the cost of road, bridge and transit programs. A federal commission created by Congress to find a way to make up the growing revenue shortfall in the program that funds highway repairs and construction is talking about increasing federal gas and diesel taxes.

KDKA Business: Wall Street Enters New Year With A Bang

Fri, 02 Jan 2009 17:42:25 -0500

Wall Street started 2009 with a big rally Friday as investors, brushing aside a disappointing report on manufacturing, sent the Dow Jones industrials up more than 250 points and to their first close above 9,000 in two months. All the major indexes shot up more than six percent for the week.