Category: Business
CEO Pay Now 380 Times Average Worker’s, Says AFL-CIO
Adam Gault/Thinkstock(NEW YORK) — Just when you thought executive compensation couldn’t get much higher, the average CEO pay increased 14 percent to $12.9 million in 2011, 380 times that of the average worker, according to the AFL-CIO’s annual Executi…
Survey: High Prices Major Complaint About Auto Repairs Shops
Comstock/Thinkstock(YONKERS, N.Y.) — Just hearing the words “auto repair shop” can send shivers up the spines of motorists who dread bringing their cars in for anything other than a tune-up.Still, the latest Consumer Reports survey on auto…
Olympus eyes fresh start, ex-CEO mulls legal threat
Tokyo: Shareholders of Olympus Corp approved a new board on Friday, hoping for a fresh start at the camera and medical device maker that hid $1.7 billion of investment losses in Japan’s biggest corporate scandal in decades.At a sometimes rowdy extrao…
Sistema to take $1 bn writedown on India: sources
Moscow: Russian services conglomerate Sistema will take a writedown of nearly $1 billion related to the suspension of its Indian licences, sources close to Sistema said on Friday.A billboard for the mobile phone provider MTS, a brand of Sistema Shyam T…
Olympus gets new board, ex-CEO warns of legal threat
Tokyo: Shareholders of Olympus Corp voted in a new board on Friday but the firm’s British ex-CEO, whose dismissal six months ago unveiled the biggest scandal in corporate Japan for decades, threatened to have the result annulled.At the meeting, which…
Goldman Sachs facing a new insider trading probe
New York: Federal prosecutors in California are investigating a Goldman Sachs employee for insider trading, according to prosecutors and defense lawyers who attended a hearing in US federal court in New York on Thursday.The employee is suspected of giv…
House Passes Small Business Tax Cut
iStockphoto/Thinkstock(WASHINGTON) — The House of Representatives voted Thursday to pass a $46 billion small business tax cut that Republicans hope will lead to economic growth by enabling entrepreneurs to deduct 20 percent of their income. Democrats …
Spirit Airlines Cartagena Sale: ‘More Bang for Your Buck!’
Joe Raedle/Getty Images(NEW YORK) — Leave it to Spirit Airlines. Known for coming up with memorable and risqué ways to capitalize on news headlines, the airline is this time promoting a sale on fares to Cartagena, Colombia, named — wait for it…
Weekly Jobs Report Keeps Stocks Down
Hemera/Thinkstock(NEW YORK) — Worries about the job market kept stocks in negative territory Thursday. The Dow Thursday closed down 69 points, the Nasdaq lost 24 and the S&P gave up 8 points. The number of Americans who filed for unemplo…
$1 Million for a Rare Penny?
Scott Olson/Getty Images(SCHAUMBURG, Ill.) — A 1792 Silver Center penny is being auctioned off Thursday night and online bidding is already at $1.15 million, according to Heritage Auctions.The penny is one of the first coins struck at the U.S. Mint, a…
