Financial
Steady job growth boosts US consumer confidence PDF  | Print |  E-mail
Written by By CHRISTOPHER S. RUGABER / AP Economics Writer   
Friday, 27 June 2014 11:53
WASHINGTON (AP) — Strong job growth lifted U.S. consumer confidence this month, as Americans looked past the economy’s dismal first quarter performance.
The University of Michigan said Friday that its index of consumer sentiment rose slightly to 82.5 in June from 81.9 in May. That is still below April’s reading of 84.1, which had been the highest in almost a year.
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Ramadan rush: Mega-rich shoppers descend on London PDF  | Print |  E-mail
Written by By SYLVIA HUI / Associated Press   
Friday, 27 June 2014 07:41
LONDON (AP) — Before the fast, let there be a shopping feast.
From Harrods in Knightsbridge to the glittering diamond stores in Mayfair, London has long attracted big spenders. But every year around the holy month of Ramadan, which starts this weekend, a wave of spectacularly rich Middle Eastern shoppers arrives and takes retail therapy to a whole new level — complete with an entourage of bodyguards, chauffeurs, and Gulf-registered Rolls-Royces and Ferraris flown in just for the occasion.
Retailers call the boost in business the Ramadan Rush: A hugely lucrative and fast-growing market driven by wealthy Arabs who travel to Britain to escape the desert heat and indulge in buying luxury gifts before flying home for a month of fasting and increased religious observance. Another surge takes place during the Eid holiday, which marks the end of Ramadan.
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Michaels stock takes hit in return to public markets PDF  | Print |  E-mail
Written by By ANNE D’INNOCENZIO/ AP Retail Writer   
Friday, 27 June 2014 11:47
NEW YORK (AP) — Michaels’s stock fell slightly in its return to public markets Friday.
The arts and crafts store operator’s shares slipped 8 cents, to $16.92 in morning trading on the Nasdaq.
Michaels Cos. Inc., which also runs the Aaron Brothers chain, priced an initial public offering of 27.8 million shares at $17 each, at the low end of its predicted range.
The Irving, Texas, company raised $472 million from the offering.
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GM preparing to recall 33,000 Chevy Cruze compacts PDF  | Print |  E-mail
Written by Associated Press   
Thursday, 26 June 2014 09:57
DETROIT (AP) — General Motors is preparing to recall about 33,000 Chevrolet Cruze compact cars because the air bags might not inflate properly in a crash.
Spokesman Jim Cain says the cars were built with an incorrect part made by Japanese supplier Takata Corp. But he says the problem is different from another issue with Takata air bags that is affecting much of the auto industry.
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Page 9 of 273

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