Economy

FCC Announces Comcast-Time Warner and AT&T- DirecTV Teams

The Federal Communications Commission (FCC) announced Monday that two lawyers from the Department of Justice's antitrust division will be heading up the agency's inquiry into major proposed mergers in the telecommunications industry.

Spanish Wi-Fi Provider 'Let's Gowex' Declares Bankruptcy Amidst Financial Scandal

Adding insult to injury, Spanish Wi-Fi provider Let's Gowex announced earlier this week that it is filing for bankruptcy amidst revelations that company accounts were falsified for at least the past four years.

GameStop CEO Explains Retailer's Reported Venture Into Game Development

Video game retailer GameStop is implementing has some plans to keep up with the increasingly digital world of shopping.

Samsung Galaxy S5 Steals Some iPhone Owners Away from Apple

Google's Android continues to dominate iOS around the world in most major markets, according to recent Kantar Worldpanel numbers, and Samsung's Galaxy S5 seems to be attracting some former Apple heads.

US Consumer Credit Increased by $19.6 Billion in May As Consumer Debt Grows, Says Federal Reserve

U.S. consumer credit grew during May, but the Federal Reserve noted the debt has also increased. According to the Federal Reserve, the total consumer credit increased by $19.6 billion during May.

US Job Openings Hit 7-Year High, Up to 4.6 Million in May

Job openings in the U.S. have hit its highest levels in seven years. According to the Department of Labor, more than 4.6 million job openings were available during May, an increase from 4.5 million during April.

Google's Driverless Cars, Apple CEO Steve Jobs: Sergey Brin and Larry Page Give KV Summit Talk on Changing Transportation and Innovation

Driverless cars could be the next big thing. The Internet has seen one of Google's latest projects as the tech giant recently posted photos of its driverless car.

AMC Movie Theaters Adding Plush Recliners, Better Food and More 3D: Cinema Tickets to Increase by $1 to $2, Regal to Follow Suit

The total seating capacity will decrease AMC Entertainment plans to get people out of their home theater systems and back into the movie theaters by spending around $600 million just this year to convert the standard 44-inch wide theater seats to more comfortable 60-inch wide plush recliners.

US Mobile Internet Consumption Doubled, Declining Landline Usage Affects State and Local Taxations

Mobile Internet usage has doubled in the U.S. during the last two years, but its had dented state and federal agencies' taxation efforts.

$10 Potato Salad Kickstarter Goes Viral, Raises Over $40,000: Internet Loves Ohio Man With Humble Goal

What will he do with the money? "I'm making potato salad. " This is basically the single sentence header that has collected a sum of over $40,000 from over 3000 backers on the crowdsourcing website Kickstarter.

Samsung Loses at FIFA World Cup: Sao Paulo Factory Robbed, 7 Trucks of Tablets, Phones and Notebooks Stolen Worth $36M

The men were armed with submachine guns. Now that Korean smartphone maker Samsung's phones have caught up in price and prestige to the once dominant California tech company Apple's iPhone, the gadgets are more coveted and, sadly, more susceptible to theft.

NYC-Based Crumbs Bakery Closes Stores Abruptly, Gives Employees Little Notice: Manhattan Locations Mysteriously Remain Open

On Monday, Crumbs Bake Shop, a New York-based bakery chain closed all of its stores abruptly. The news has shocked employees, who were not given much notice.

Latino Millennial Males More Likely Underemployed Than Whites Despite More Work Experience

According to the Economic Policy Institute, the start of 2014 provided four million job openings, but there were 10.2 million job seekers. Young workers face "steeper" competition in the job market against older workers because they have less work experience.

Seattle's Minimum Wage Increase Receives Pressure From 'Forward Seattle' Business Coalition

Following the decision by Seattle's Democrat-controlled City Council to increase the city's minimum wage to $15 an hour last month, several Seattle businesses banded together to repeal the newly enacted law.

Madonna Helps Her Hometown Detroit: Singer Starts First Phase of 'Long-Term Commitment'

What does the Queen of Music Madonna, have planned? The original Material Girl Madonna is making headlines once again by investing in economically depressed Detroit.

Boeing 737 News: Train Carrying Fuselages Derails and Throws Parts into River

Three fuselages ended up in the Clark Fork River in Montana following the derailment. Few planes can operate on water, and the Boeing 737 is not one of them.

Seattle Minimum Wage: Business Group Trying to Repeal City's $15-Per-Hour Law

Business group has submitted petition, public vote to repeal could follow. A Seattle business group has taken a big step toward the possible repeal of Seattle's recently approved $15 minimum wage, according to a report from Reuters.

For-Profit Corinthian Colleges Start Closing Campuses: Owner of Everest Lost $94M in Past Fiscal Year

The for-profit college industry has been dealt a serious blow by the federal government. Corinthians Colleges, the largest of the companies, has reached an agreement with the government to begin closing some of its campuses.

Chile Protests: Clashes Over Fish Quota Escalates With Police

What were the events and the reasons that led to the fight between the fishermen and police? Some fishermen are supposed to be aware of how much fish they can catch, but for the fishermen of Chile and their government there seems to be a disagreement about how much fish they should be catching.

Yahoo! Company Eliminates Various Software Products, Starts New Focus Under CEO Marissa Mayer

Yahoo! One of the leading digital giants is cleaning house by getting rid of some of its online software components.
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