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Latest Business News

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  Facebook hires former Clinton press secretary Joe Lockhart

  Facebook has hired Joe Lockhart, who served as press secretary during President Bill Clinton’s second term, as vice president of global communications. The 51-year-old Lockhart will start on July 15 in his new post. He will move to California from...   9:55 AM

• High note for Pandora's IPO: Priced at $16

  Pandora opened its IPO box, and there was plenty of optimism inside. The company, which streams music on the Internet and has reported nothing but...   1:35 AM

• Penney shares shine

  JCPenney shares just got a lot sexier. The Texas-based department-store giant tapped a top Apple exec as its next CEO -- a surprise move that sent...   1:35 AM

• Cheap gas lifts May retail data

  Americans shrugged off the economic gloom of the past month to go on spending sprees for eating out, buying new clothes, shopping online and fixing up...   1:39 AM

• Avis deal drives down Dollar Thrifty

  Dollar Thrifty Automotive Group fell the most since 2009 after suitor Avis Budget Group agreed to acquire Avis Europe for $1.04 billion, leaving...   9:55 AM

• Best Buy's 'smart' 1Q

  Consumer electronics retailer Best Buy reported first-quarter profit that exceeded analysts' forecasts, helped by demand for smartphones. Net income...   12:53 AM
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  Bronfman buck$

  Warner Music boss Edgar Bronfman Jr. is set for a $21.7 million payday -- including a $16.8 million "golden parachute" -- as a result of the company's pending $3.3 billion sale to Russian-born billionaire Len Blavatnik. The parachute, which is...   1:35 AM

• New regs may friend Facebook

  Facebook may get a public reprieve, if it wants one. Congress is considering revisions to a decades-old law that compels companies to disclose...   12:21 AM

• NY fiber firm buy in works

  A Westchester fiber-optics company, which has been shopping itself for several months, received a binding offer in the last few days from a private...   1:39 AM

• Saving on utilities

  If you’re thinking about a used SUV or minivan, you probably have a life full of ‘stuff’. You’re rarely driving alone; you have a car full of kids,...   1:39 AM

• Rift grows in Alibaba

  In a rift between Alibaba and its biggest investors, Jack Ma, chairman of the Chinese online-commerce company, said Yahoo! and Softbank failed as board...   12:54 AM

• One careful owner

  The finance director of a premium auto dealer told me there were two main reasons people came in to buy a luxury car. One was because they were bored...   1:39 AM

• Mitsubishi's stake OKd

  Mitsubishi UFJ Financial Group Inc.'s plan to take a Morgan Stanley stake of as much as 24.9 percent won Federal Reserve approval after a review of the...   12:53 AM

• Made in Japan

  Watching terrifying images of the tsunami surging across Japan on March 11, one striking image was that of fields of new cars, all ready for shipping,...   1:39 AM

• Business briefs

  Bernanke Federal Reserve Chair man Ben Bernanke warned that a failure to lift the government's $14.3 trillion debt ceiling risks a potentially...   12:26 AM

• Assault and battery

  One big question has hung over hybrids since they first appearedin driveways: what happens if the battery pack has to be replaced? The figure often...   9:55 AM
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  Blown-up trade

  It was his worst trade -- ever. Lawyer-turned-trader Michael Kimelman, who believed so strongly in his innocence that he turned down a no-jail plea deal offered by prosecutors last month to try to beat the federal government's insider-trading...   1:39 AM
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  With Net-a-Porter Live, know what's hot, or not

  Net-a-Porter.com wants to transform online shopping into a global spectator sport. The fast-growing Internet fashion retailer today will launch "Net-a-Porter Live" -- an interactive Web page that gives an up-to-the-minute snapshot of worldwide...   12:18 PM

• Winning autos that your teenager —­ and you ­— will approve of

  Think back to the first time you had your own car. Remember what it meant — the fun you had, all the things you did in it that would have turned your...   1:39 AM
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  Who ya

  You’re never alone when you’re looking for a used car. There are Web sites galore offering price guides and road tests. Buying privately will be cheaper, but it’s buyer beware — once you’ve handed over the cash anything you spot is down to you. A...   1:39 AM

• Thor near Scribner deal

  Joe Sitt’s Thor Equities is in contract to buy the Scribner Building for $108.5 million. The 12-story plus penthouse building at 597 Fifth Ave. has...  

• Connecticut probes Citigroup on data breach

  HARTFORD -- Connecticut's attorney general asked Citigroup Tuesday for more information about its recent data breach, saying the bank has not yet...  

• JC Penney nabs Apple executive as CEO

  JC Penney Co. tapped Ron Johnson, head of Apple's iconic retail stores, as its new president and eventual chief executive on Tuesday. Johnson will...  

• Report: Facebook loses 6M users in US

  While Facebook is still marching toward its goal of 1 billion users, there are signs its popularity is peaking in mature markets, in particular the US....