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Business

Builders demolish more old houses

posted: 05/28/2015 2:03 a.m. Discuss

Merion Homes bought two dozen ranch-style houses in Northern Virginia's Pimmit Hills community for about $450,000 each, just to knock them down. Now it's selling customized residences three times larger at prices topping $1 million.

Biotech is hot sector for Silicon Valley cash

posted: 05/28/2015 2:02 a.m. Discuss

Companies searching for cures for cancer and testing treatments for crippling genetic diseases are capturing the interest of venture capitalists -- and their money -- more than at any time in the past seven years.

Blaze in Canada cuts oil-sands output 10%

posted: 05/28/2015 2:01 a.m. Discuss

Wildfires in northern Alberta have spread farther into the oil sands area, keeping about 10 percent of production offline and pushing Canadian crude prices higher.

Market report: Stocks regain losses on hopes for Greece

posted: 05/28/2015 1:59 a.m. Discuss

Stocks ended higher Wednesday, recovering most of their losses from Tuesday, as Greece appeared closer to resolving its latest debt issues.

Business news in brief

posted: 05/28/2015 1:58 a.m. Discuss

Ex-Wal-Mart exec on sales firm's board Duncan Mac Naughton, former executive vice president and chief merchandising officer of Wal-Mart U.S., has been named to the Crossmark board of directors.

News in brief

posted: 05/28/2015 1:56 a.m. Discuss

Oxford American names interim editor Eliza Borne, managing editor of the Oxford American, will take over as interim editor of the magazine after editor Roger Hodge's departure, the publication said Wednesday.

Ex-Madoff employee avoids prison term

posted: 05/28/2015 1 a.m. Discuss

A former Bernard Madoff trader who helped create fake securities data to trick customers avoided a prison sentence, the third ex-worker to do so after assisting in the prosecution of former colleagues.

Tracy Morgan settles suit with Wal-Mart over fatal crash

posted: 05/27/2015 3:01 p.m. Comments 4

NEWARK, N.J. — Actor-comedian Tracy Morgan has settled his lawsuit against Wal-Mart over a New Jersey highway crash that killed one man and left Morgan and two friends seriously injured.

State's unemployment rate ticks slightly higher

posted: 05/27/2015 9:08 a.m. Discuss

Arkansas' unemployment rate was up slightly in April, the Department of Workforce Services said Wednesday.

Charter acquiring Time Warner

posted: 05/27/2015 2:08 a.m. Discuss

As TV watchers increasingly look online for their fix, cable companies are bulking up. In the latest round, Charter Communications is buying Time Warner Cable for $55.33 billion.

Jobs outlook lifts consumer confidence

posted: 05/27/2015 2:08 a.m. Discuss

Consumer confidence rebounded slightly this month as the job market showed signs of improvement.

New-home sales climb 6.8% in April

posted: 05/27/2015 2:07 a.m. Discuss

More Americans bought new homes in April -- evidence that the stronger job market is powering the housing sector.

Media execs fill top-paid CEO list

posted: 05/27/2015 2:06 a.m. Discuss

They're not Hollywood stars, they're not TV personalities and they don't play in a rock band, but their pay packages are in the same league.

SpaceX OK'd for military contracts

posted: 05/27/2015 2:04 a.m. Discuss

The Falcon 9 rocket of billionaire Elon Musk's SpaceX won U.S. Air Force certification, letting the company battle a Boeing Co.-Lockheed Martin Corp. venture for national security space missions.

Fewer chances to become billionaire, firms' study predicts

posted: 05/27/2015 2:03 a.m. Discuss

The rapid rate of wealth creation by billionaire entrepreneurs will probably level off over the next two decades as economic growth slows in emerging markets and governments act against income inequality, a study found.

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