CNBC's Susan Li looks back at the week's top business and financial stories. Good news for the economy this week, as the Dow reached 18,000 for the first time. Sony released "The Interview." And Walmart announced wage hikes.» Read More
Stocks declined, following a two-day rally, as a report showed crude inventories shrunk last week. Oil rebounded $1 to $2 a barrel after shedding more than $9 in the prior two sessions.
U.S. retailers, led by the discounters, are expected to post slightly better June same- store sales this week, thanks to seasonal weather and rebate checks that have made their way to cash registers, mostly for basic items such as gasoline and food.
Stocks whipped back to positive territory on a seesaw day for Wall Street, which was dominated by a large dumping of financial shares and a drop in oil that staggered large energy producers.
Stocks moved out of bear territory Monday as oil retreated more than $4 a barrel, easing inflation fears, and technology got a boost from two of its largest companies.
The music doesn't sound so sweet over at high-end audio-visual equipment maker Bang & Olufsen. The Danish company announced a downgrade on profit expectations for the year this morning.
Anyone who has managed to forget about fuel prices long enough to enjoy a little retail therapy knows some steep discounts are available these days, the New York Times reported.
Steve & Barry’s, the miracle retailer that sold everything new at bargain basement prices, is contemplating filing for bankruptcy. And while making that move would not necessarily mean the end to the business, which grew to more than 250 stores and might now have to shut some of them, it does mean that anyone who hasn’t gotten paid isn’t too happy right now.
The “Back to the Future” movie franchise, which produced three movies from 1985 to 1990, generated an impressive $935 million in gross box office receipts. Nike will be releasing their new Hyperdunk in a teal version to make it look like the “Air McFlys.” Shoe collector shop Undefeated in Santa Monica will get first dibs as they’ll sell less than 100 pairs today.
Australian retail sales rose well past expectations in May, pointing to consumer resilience in the face of higher living costs and challenging the official view that interest rates were high enough to curb domestic demand.
Just Group, an Australian clothes retailer, cut its earnings forecast for the 2008 financial year by as much as 12.6%, hit by sluggish consumer demand, but said it still rejected a takeover bid from billionaire Solomon Lew.
Sony's CEO Howard Stringer has unveiled the company's three year plan and one key to its growth strategy is a new video service called the PlayStation Network. Stringer said at a news conference: "Our mission is simply to be the leading global provider of networked consumer electronics and entertainment."
High-end consumers are still shopping, but they are doing so with caution according to some executives from the high-end retail and recreational busines sector.
Good news for American Apparel: the company was able to reach an agreement on a new mended credit agreement with its lead bank. It is a positive in this tight lending environment to see a company lock in a credit line or letter of credit.
On Monday, I wrote about how the shoe money has dried up for this year's crop of NBA Draft picks. So much so, I'm hearing, that we might not see a single player ink a deal worth more than $2 million annually.
The markets have worked themselves into a frenzy of navel contemplation about today's Fed meeting, and the "consensus" seems to be investors are collectively worried about Ben Bernanke & Co. sounding too hawkish.
Just look at Cabela's,spacer whose stock is hovering around an all-time low, down almost 50 percent from a year ago. Years ago, we applauded these guys for being absolutely awesome in the niche of hunting, fishing and outdoors.
Newspapers are breaking records -- and it's not a good thing. A double-digit drop in newspaper ad revenue, the third consecutive year of declines, and record margin contraction makes this the industry's worst year ever. The newspaper industry's ad revenue is down 12 percent this year, on top of last year's already dismal 8 percent drop.
Walgreen posted a 2 percent increase in quarterly profit as sales were muted by a weak U.S. economy and slowing growth in prescription drug sales.
It's the Monday before the NBA Draft and not one top draft pick has signed with a shoe company. It’s partly due to the fact that there’s just not one standout slam-dunk, marketable player in Derrick Rose, Michael Beasley or O.J. Mayo. But it’s also due to several other factors that can’t be ignored...
LiveNation, the world's largest concert promoter is facing a serious shakeup. The company is "negotiating the exit" of Michael Cohl, the company's chairman, according to the Wall Street Journal.