Rich Chinese are buying bicycles that cost more than the average citizen makes in three years, motivated by nostalgia for the days when two wheels were the primary means of transport.
Starbucks will use its ubiquitous coffee cups to tell U.S. lawmakers to come up with a deal to avoid going over the "fiscal cliff'' and triggering automatic tax hikes and spending cuts.
Old media gave its stamp of approval to a new digital media model on Thursday. Maker Studios closed a $36 million round of funding, including $25 million from Time Warner.
This week, Daniel Loeb, one of Wall Street's most successful investors, scooped up a $500 million windfall for his clients in a bond buyback deal with the Greek government. The FT reports.
U.S. consumer spending rose in November by the most in three years as incomes climbed, while a gauge of planned U.S. business spending rose much more than expected.
"What could have been a merry Christmas is going to turn to a ho-hum Christmas, and we can thank our, you know, politicians for getting in the middle of it all," said a retail analyst.
In Montana's oil country, some teenagers are choosing the oil fields over universities, forgoing higher education for jobs with salaries that can start at $50,000 a year.
House Speaker John Boehner called off a vote on Thursday to raise taxes for wealthy Americans, bringing the country on the brink of going over the "fiscal cliff."
The year’s most expensive homes on the market are not necessarily massive; some are spacious New York penthouses without enough square footage to even qualify as a mansion. See them all, starting from $60 million on up.