Over 80 percent of California is now in extreme or exceptional drought. CNBC's Jane Wells reports UC Davis predicts this will cost the state $2.2 billion.» Read More
July 24- Dunkin' Brands Group Inc cut its full-year forecasts on Thursday, as its U.S. Dunkin' Donuts shops battled fierce competition from fast-food rivals like McDonald's Corp and as high milk prices softened profits from its international Baskin-Robbins ice cream business.
WASHINGTON— Applications for U.S. unemployment benefits plunged last week, a sign that the economy is building strength. The Labor Department said Thursday that applications for jobless aid fell 19,000 to a seasonally adjusted 284,000. The fewest people sought benefits since February 2006, almost two years before the start of the Great Recession.
July 24- Dunkin' Brands Group Inc reported weaker-than-expected U.S. quarterly same-restaurant sales due in part to a cold and rainy start to the spring season, and cut its full-year adjusted profit and sales forecasts.
*Google's handling of removal requests has drawn criticism.
July 24- Dunkin' Brands Group Inc, the parent of Dunkin' Donuts and Baskin-Robbins ice cream, reported weaker-than-expected U.S. quarterly same-restaurant sales, blaming, in part, an unseasonably cold and rainy start to the spring season. Sales at established Dunkin' Donuts franchises in the United State rose 1.8 percent in the second quarter.
BEIJING, July 24- The mobile industry has long held that Samsung's broad range of mobile devices makes it nimble in changing markets, while Apple loses out by rigidly sticking to its high-end gadgets. Apple Inc's latest quarterly results showed sales of its high-end phones in China grew at nearly twice the pace analysts had expected.
*China regulator' confirms' Qualcomm has monopoly- report. BEIJING, July 24- China's antitrust regulator has confirmed that Qualcomm Inc, one of the world's biggest mobile chipmakers, has a monopoly, the state-run Securities Times newspaper reported on Thursday, as Qualcomm's chief executive held talks in China.
WASHINGTON— After spending nearly $300 million on a new computer system to handle disability claims, the Social Security Administration still can't get it to work. Six years ago, Social Security embarked on an aggressive plan to replace outdated computer systems overwhelmed by a growing flood of disability claims.
LOS ANGELES— President Barack Obama is tapping into growing misgivings about tax-driven overseas mergers by U.S. corporations, issuing a new call to end the practice quickly and questioning the patriotism and citizenship of those companies.
A few have forfeited their right to do business in Texas by not filing tax reports. Perry, the longest-serving governor in Texas history and a possible 2016 presidential candidate, has for several years travelled the country extolling the strength of the Texas economy and bragging about his efforts to bring new investment to the state, including the tech fund.
WEST POINT, New York— President John F. Kennedy is getting his old look back on new collectors' coins.
WASHINGTON, July 24- A U.S. lawmaker will pressure the U.S. Securities and Exchange Commission on Thursday to consider a raft of reforms, after William Ackman's aggressive efforts to take over Allergan Inc raised concerns about loose rules governing disclosure and shareholder voting.
SAN FRANCISCO, July 23- Federal Trade Commissioner Julie Brill, speaking in Washington on Wednesday, expressed concern about the way apps on smartphones and mobile devices are siphoning sensitive health data, and how some of that information may then be shared with third parties.
WASHINGTON— Laurie Dishman told senators through tears Wednesday that she was choked and raped on a Royal Caribbean cruise by one of the line's employees, using her experience to shed light on the dangers that passengers might face on cruises.
SAN FRANCISCO— Twitter acknowledged that it has been hiring too many white and Asian men to fill high-paying technology jobs, just like several other major companies in Silicon Valley.
PALO ALTO, Calif.— Varian Medical Systems Inc. on Wednesday reported earnings that decreased by 5.1 percent in its fiscal third quarter. The Palo Alto, California- based company said profit decreased to $107.1 million, or $1.02 per share, from $112.8 million, or $1.03 per share, in the same quarter a year ago.
FOSTER CITY, Calif.— Gilead Sciences Inc. on Wednesday reported profit that more than quadrupled in its second quarter, topping analysts' expectations on sales of its new breakthrough drug for hepatitis C.
SAN DIEGO— Qualcomm Inc. on Wednesday reported net income that climbed by 42 percent in its fiscal third quarter, and topped analysts' expectations. But its earnings guidance for the current quarter fell short of Wall Street estimates, and Qualcomm stock fell $3.95, or 4.8 percent, to $77.65 in aftermarket trading.
WASHINGTON— Six years ago the Social Security Administration embarked on an aggressive plan to replace outdated computer systems overwhelmed by a growing flood of disability claims. In 2008, Social Security said the project was about two to three years from completion.
SAN FRANCISCO, July 23- AT&T Inc and the Chernin Group are close to buying a majority slice of Fullscreen, in a deal that will value the popular YouTube video network at $200 million to $300 million, said tech blog Re/code, citing sources familiar with the target company.