Apple CEO Tim Cook is turning down a payout worth approximately $75 million. Cook is requesting that he not receive new stock dividends, after receiving just shy of $400 million in compensation last year. One writer chalks it up to classiness.
The Dow Jones industrials index climbed to its highest level in nearly 5 years on Friday, after a surprise drop in the unemployment rate pointed to continued improvement in the labor market. The S&P 500 rose for a fifth straight day and was also on course to close near a 5-year high.
By big city standards, Peter Breiter, 41, is an unusual banker. He left a bigger bank, where it was all sell, sell, sell, to settle in the tiny southern German village of Gammesfeld and write transaction slips by hand for its 500 inhabitants.
The Justice Department announced today that Bank of America will pay a record $16.65 billion fine to settle allegations that it knowingly sold toxic mortgages to investors. $7 billion of it will go to consumers faced with financial hardship.
General Motors says it will spend $47 million at a factory in Defiance, Ohio, so it can build more parts that go into the company's small four-cylinder engine and its Chevrolet Volt electric car. Additionally, GM will invest $20 million in machinery and equipment at its assembly plant in Kansas City, Kansas, part of a plan to invest $2 billion in 17 U.S. plants.
Manufacturing grew in April at the strongest rate in 10 months, easing concerns the economy had lost momentum at the start of the second quarter.
Stanford students took seriously their homework assignment in the fall of 2007: Devise an app. Get people to use it. The students ended up getting millions of users for free apps that they designed to run on Facebook. And, as advertising rolled in, some of those students started making far more money than their professors.
With the sluggish British economy, it's never been more difficult for young people to get a job. In fact for many graduates and teens, finding their way into employment can often feel like an impossible challenge rather than a right of passage. Despite research that suggests a 21% unemployment rate for this age group, there are still many ambitious young people who are creatively making their way in the world. Their persistence, initiative and success in times of such economic difficultly are doubly inspiring. Here are some of the top young entrepreneurs to look out for this year and the dynamic, forward thinking companies that have seen them make their fortune.
The Original OKRA Charity Saloon in downtown Houston operates a lot like other taverns. Booze is purchased and poured, bartenders get paid and take home tips. But the owners give all their profits away. Proceeds from OKRA's are donated to a different Houston-based organization each month. With every drink purchased, bar patrons vote on which charity is chosen from among four new nominees each month.
He watched the piles of feces go up the conveyer belt and drop into a large bin. A few minutes later, after a machine boiled and treated it, Bill Gates took a taste and proclaimed it, "Delicious -- as good as any I've had out of a bottle." The self-powering machine produces water and electricity (plus a little ash), and no nasty smell.
The House of Representatives last week managed a landslide victory for the little guy passing the Entrepreneur Access to Capital Act by a vote of 407-18. The bill would allow entrepreneurs to crowdfund. That means they could raise money over the Internet through relatively small donations from people they don't know.
A UCSD grad student has traded in his lab coat for an apron and sunglasses, disguising his identity and keeping his new cookie service a secret, to avoid criticism from friends and family. Now, the passionate cookie-maker is seeing his dream pay off -- and the secret cookie service is not so secret anymore.
For first time-ever, electric vehicles will soon be able to travel the length of the UK using a network of free, solar-powered top-up charging stations located near motorways. Ecotricity, the company installing the network, says range anxiety has now been removed from the electric vehicle equation in the UK.
For first time-ever, electric vehicles will soon be able to travel the length of the UK using a network of free, solar-powered top-up charging stations located near motorways. According to Ecotricity, the company that installed the network, range anxiety has now been removed from the electric vehicle equation in the UK.
A raft of data Thursday show layoffs are trending down to a six-month low and factories in the Mid-Atlantic are growing again, raising hopes that it can end the year on an upward slope. Retail sales gains in Britain, meanwhile, surprised economists there.
U.S. factories revved up production, hired more workers and received a surge of new orders in July, helping them expand at the fastest pace in two years. Meanwhile, British manufacturing grew in July at its fastest rate in well over two years.
British manufacturing grew much more strongly than expected in June, suggesting the country's recovery is broadening. Car sales also rose and house prices continued to climb.
Britain's economy has reached a record high – surpassing its peak before the financial crisis struck six years ago, according to official figures the Office for National Statistics released Friday.
Not only is this Easter egg impressive in its size, but every inch of this seven foot chocolate wonder is being sold off to benefit a UK charity.
Ralston Purina created a program of funding in 1989 called Purina C.A.R.E.S. In eight years it donated more than $3.9 million to local zoos and the American Zoo and Aquarium Association to help fund species survival efforts.
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