Business

Business

Purdue snags $50 million in deal to peddle online Kaplan degrees

(c) 2017, Bloomberg. How do you turn a for-profit college into a nonprofit? Partner with a public university -- and pay $50 million for the privilege. That’s basically what happened on Thursday, in a financial deal between the for-profit Kaplan higher-education chain and Purdue University, the...


Business

Reigniting Starbucks' sales first order of business for new CEO

(c) 2017, Bloomberg. Starbucks’s new chief, who took the job this month, isn’t getting much of a honeymoon. The shares declined as much as 5.4 percent in early trading Friday after quarterly sales missed analysts’ estimates, renewing concerns that competition and mobile-ordering problems are...


Business

The economy grew 0.7 percent in Trump's first quarter, federal data show

(c) 2017, The Washington Post. WASHINGTON - America’s gross domestic product, a broad measure of economic growth, grew by just 0.7 percent in the first three months of the year, according to government data issued Friday morning, an estimate economists say is more likely due to measurement error...


Business

U.S. economy expands at slowest pace in three years

(c) 2017, Bloomberg. The U.S. economy expanded at the slowest pace in three years as weak auto sales and lower home-heating bills dragged down consumer spending, offsetting a pickup in investment led by housing and oil drilling. Gross domestic product, the value of all goods and services produced,...


Business

EU mulls starting U.K. trade talks before fixing Brexit bill

(c) 2017, Bloomberg. European governments may give U.K. Prime Minister Theresa May political cover by allowing Brexit talks to touch on trade before the two sides agree to a specific exit bill, two people familiar with the plan said. Such a concession could allow May to start engaging with the EU...


Business

Voter fatigue may doom Kenyan opposition presidential nominee

(c) 2017, Bloomberg. Former Kenyan Prime Minister Raila Odinga’s three previous presidential-election losses may hamstring his ability to generate enough public enthusiasm to mount a serious challenge to President Uhuru Kenyatta in this year’s election. Less than half of the supporters of the...


Business

Home Capital buys time with pension loan as deposits erode

(c) 2017, Bloomberg. Home Capital Group Inc.‘s C$2 billion ($1.5 billion) credit line from a Canadian pension fund buys it some time as the country’s biggest alternative mortgage lender faces a run on deposits that may spark a sale of the company. Healthcare of Ontario Pension Plan agreed to...


Business

GM truck and SUV build boosts profit as plant shutdowns loom

(c) 2017, Bloomberg. General Motors started the year on pace for another record annual profit, fueled by cost cuts, new models and ample inventory after plants cranked up production before being retooled this year. Earnings rose to $1.70 per share in the first quarter, beating analyst estimates of...


Business

A Dodd-Frank fight with billions at stake spurs GOP friction

(c) 2017, Bloomberg. Republicans’ latest effort to kill a Dodd-Frank provision that has cost banks billions of dollars is running into trouble. At issue is part of the 2010 law that limits how much money banks can collect from retailers when consumers use their debit cards. House Financial Services...


Business

Apple cuts off licensing payments to Qualcomm as fight escalates

(c) 2017, Bloomberg. Qualcomm said Apple is cutting off licensing payments related to the iPhone until their legal dispute is settled, forcing the chipmaker to lower forecasts it gave just last week. The announcement escalates the fight between the world’s largest publicly-traded technology company...


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