Business

Bank of America reports quarterly loss of $8.8b

CHARLOTTE, N.C. – As expected, Bank of America Corp. on Tuesday gave investors an historically bad quarterly earnings report. The Charlotte-based bank said it lost $8.8 billion in the second quarter, as more than $20 billion in previously disclosed mortgage-related charges walloped ...

Borders to liquidate after sale efforts collapse

DETROIT – Borders Group threw in the towel Monday afternoon and agreed to submit a previously announced liquidation plan to the U.S. Bankruptcy Court in Manhattan on Thursday. The Ann Arbor, Mich.-based bookseller had been trying to reorganize for five months, but was overwhelmed ...

Approach summer sales with caution

CHARLOTTE, N.C. – With summer sales kicking into high gear, it can be tempting to throw caution to the wind and embark on some pre-Christmas splurging. We’ve rolled past the Father’s Day and Fourth of July deals and into the back-to-school zone. But some experts ...

New space race: Orbital will outsource

MIAMI – When the space shuttle Atlantis launched July 1, it had one primary mission: Resupply the International Space Station. And when it returns to Earth, another spaceship is ready to take on that mission – for a profit. A California company has a rocket and a $1.6 ...

ARC, Gupta fight back against GT Solar claims

NASHUA – Kedar Gupta, co-founder and former CEO of GT Solar International, charges in a countersuit filed last week in Nashua that he was told he faces being “hanged or crushed” in a nasty legal battle developing between his former firm and his current one, ...

Job starts at auto repair shop

NASHUA – City building officials will be keeping a close eye on Bell Auto Repair Service Inc. at 93 E. Hollis St. over the next few weeks after the owner allegedly began renovating the building over the July Fourth weekend without first obtaining the required building permits, Mike ...

NH sets pace for ‘clean’ jobs

Over the past several years, New Hampshire has added a higher percentage of green jobs than every other state in New England, according to a report by the Brookings Institution. Released this week, the report by the Washington, D.C.-based think tank looked at green job growth by state from ...

The more things change

Roger Clemens may have dodged a bullet without the help of steroids. Prosecutors pulled a Bill Buckner – which may end the entire affair on whether or not he lied to Congress. Frankly, I don’t care. He’s an idiot whose fastball registers higher than his IQ. For ...

NH small businesses to get $13m

Small businesses in the Granite State will receive $13 million from the State Small Business Credit Initiative, Sen. Jeanne Shaheen announced. SSBCI, a program through the U.S. Treasury Department’s Small Business Jobs Act, will bring $13 million in federal funds to New Hampshire ...

E-mails reveal Wachovia’s efforts to shape bailout bill

CHARLOTTE, N.C. – Soon after the Treasury Department proposed buying up distressed mortgage assets in September 2008, a Wachovia lobbyist was working to make sure the Charlotte bank’s troubled loans would be included, an email obtained by McClatchy Newspapers shows. In a ...

Jobless benefits requests sink

WASHINGTON – New applications for unemployment benefits fell last week to the lowest level in three months, suggesting fewer layoffs in early July than usual, according to government data. Initial claims for state benefits dropped 22,000 to a seasonally adjusted 405,000 in the week ...

Backlash over Netflix price bump

SAN JOSE, Calif. – In the space of a day, Netflix Inc. seems to have transformed itself from one of the best-loved companies to one of the most hated – at least among thousands of its customers. After the Los Gatos, Calif.-based DVD and streaming video company announced ...

Pawnbroker enjoys role as ‘poor man’s bank’

PHILADELPHIA – Outfitted in two-tone spectator shoes, a bow tie, pleated pants, and a white dress shirt as perfectly pressed as his mustache was groomed, Stanton Myerson, a jeweler’s loupe dangling from a chain around his neck, seemed conspicuously out of place as ...

Still-optimistic Fed open to stimulus

WASHINGTON – Federal Reserve Chairman Ben S. Bernanke sought to reassure lawmakers and the nation that the central bank stood ready to spring into action if the economy stumbled further as the deadline looms on the nation’s debt limit, Europe’s financial problems ...

Long-elusive definition established for term

CHICAGO – Everywhere you turn, “green jobs” are touted for their ability to pull the nation out of its economic slump. But what exactly is a green job? Is the U.S. creating any? Do they pay? For the first time since the term was coined, someone has answers. A ...

Murdoch drops bid for BSkyB in hacking fallout

LONDON – Media mogul Rupert Murdoch’s latest effort at damage control, abruptly shelving his bid to take over Britain’s biggest satellite broadcaster, shows no sign of turning back the rising tide of public anger against him and his giant News Corp. The decision ...

Expedited screening to be tested at 4 airports

FORT WORTH, Texas – Transportation Security Administrator John Pistole said Thursday that the government is poised to conduct a pilot program that will allow some travelers to proceed through expedited screening. American Airlines and Delta Air Lines will be testing the ...

Spirit stands by ‘ultra low fares’

MIAMI – Standing before a luggage scale at Fort Lauderdale-Hollywood International Airport, Rita Coskey was not happy with Spirit Airlines. As she struggled to lighten her overweight suitcase – and avoid total baggage fees of $63 – the 25-year-old New Yorker ...

Gold hits record high on debt fears

LOS ANGELES – Gold closed at a record high Tuesday, surpassing its previous high set in May, as some investors ran back to the classic haven amid global financial markets’ latest turmoil. The metal also got a boost as the minutes of the Federal Reserve’s last ...

Netflix switches up plans

LOS ANGELES – Netflix Inc. consumers who like to receive both a DVD and watch movies online through the service are about to pay 60 percent more a month in subscription fees. In a reflection of the more challenging economics, the company faces to acquire digital content and ship ...