Business

US retail sales decline despite consumers saving more on gas costs

US retail sales decline despite consumers saving more on gas costs

The US retail sales continued the slide in January as consumers tightened their wallets despite saving money on the gas costs. As the gas prices dropped and auto sales also weakened, the retail sales remained low during December and January.

However, Americans cranked up their spending to some extent in consumer durables and other retail categories, apart from those volatile categories. According to the Commerce Department, in January, retail sales declined 0.8% after a 0.9% decrease in December.

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Lyft in Talks with New and Existing Investors to raise $250 Million

Lyft in Talks with New and Existing Investors to raise $250 Million

Ridesharing company Lyft is in advanced discussions with new and existing investors in order to raise $250 million of financing, said people with knowledge of the situation. Back in 2102, Lyft was found by John Zimmer and Logan Green and operates in over 60 US cities.

According to one of the people, who asked not to be named as the talks are private, the financing round is valuing Lyft at $2 billion. The company has secured part of the financing. The deal has not closed and possibly the terms can change, said another person familiar with the situation.

Harvard at Top of IPO Class for 2014

Harvard at Top of IPO Class for 2014

Equilar, an executive compensation data firm, said that Harvard has produced the maximum graduates who have headed their companies when they made debut in market in 2014.

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West Coast seaports mostly close amid contract dispute

West Coast seaports mostly close amid contract dispute

According to employers at West Coast shipping ports, they were delaying operations for many days and it was a step taken in a controversial labor dispute with the union representing dockworkers.

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Glenn Straub agrees to Extend Deadline for $95.4 Million Purchase to be completed

Glenn Straub agrees to Extend Deadline for $95.4 Million Purchase to be complete

By the end of Monday, the Florida developer who is buying Atlantic City's former Revel Casino Hotel may come to know about how long he has to wait.

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Chipotle Mexican Grill’s Twitter Account Hacked for Two Hours

Chipotle Mexican Grill’s Twitter Account Hacked for Two Hours

Chipotle Mexican Grill's Twitter account remained under control of hackers for about two hours during the Sunday night. The company said in a statement that hackers within those two hours posted a series of offensive tweets on their Twitter account.

The company said that the hackers replaced Chipotle's avatar with a swastika, and tweeted several racial comments using vulgar language, including ones directed at President Barack Obama and various US government agencies.

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TurboTax Resumes return filing for State Taxes

TurboTax Resumes return filing for State Taxes

TurboTax, the most populat do-it-yourself tax preparation software developed by Intuit, was temporarily shut down due to some fraudulent tax returns filed with the system, using stolen personal information.

The process of filing state tax returns through the online system was halted for approximately twenty four hours.

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RadioShack Announces a ‘Possible Closure’ List of Locations

RadioShack Announces a ‘Possible Closure’ List of Locations

The time has come for RadioShack to pull the plug and close hundred of its stores nationwide. The company's website said that it is 'possibly' shuttering the stores in the Rio Grande Valley, besides the many locations spread all over the country.

According to the website of the troubled electronics retailer the list of 'possible closure' marked stores include outlets in Rio Grande City, Harlingen, McAllen and Brownsville.

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Twitter lost 4 million users in 2014 4Q

Twitter lost 4 million users in 2014 4Q

During Twitter's 2014 fourth-quarter earnings call on Thursday, the company's executives said that the number of monthly active users of the popular microblogging service recorded a lower-than-expected growth in the quarter.

With monthly active users considered as a benchmark of growth for the social network, Twitter said that it had a total of 288 million users at the end of 2014. The figures reported by Twitter show that the company missed the Wall Street analysts' expectations of 292 million users at the end of the year.

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Verizon to sell part of its wireline operations

Verizon to sell part of its wireline operations

Verizon Communications would sell part of its wireline operations and lease over 11,000 of its towers to American Tower in a deal that is going to help it pay off recent wireless spectrum purchases.

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