Business | MyFOX Spokane

Wet Seal ousts CEO McGalla as summer sales worsen

Submitted by Fox First at Ten on July 23rd

By MICHELLE CHAPMANAP Business Writer NEW YORK (AP) - As sales declines deepen, teen clothing seller Wet Seal Inc. has fired CEO Susan McGalla without a replacement for her. McGalla had been Wet Seal's CEO since January 2011, and had signed an employment contract with the company through

Soft game sales weigh on Hasbro's 2Q earnings

Submitted by Fox First at Ten on July 23rd

PAWTUCKET, R.I. (AP) - Toy maker Hasbro Inc. said Monday its second-quarter net income dropped 25 percent on weak sales in most categories as revenue in major product categories including boys, girls and games declined. But higher prices and cost-cutting helped the maker of Monopoly, Nerf and My

Oil prices fall on Europe's economic woes

Submitted by Fox First at Ten on July 20th

By The Associated Press The price of oil is dropping as Spain's financial troubles create fresh concerns about Europe's economy. Benchmark oil fell $1.34 on Friday to $91.63 per barrel in New York. Brent crude was down $1.12 to $106.68 in London. Spain's government predicts its

Spanish turmoil pushes the euro to a 25-month low

Submitted by Fox First at Ten on July 20th

NEW YORK (AP) - Deepening turmoil in Spain's financial system is pushing the euro to its lowest point against the dollar in more than two years. The yield on Spain's 10-year government bond spiked above 7 percent Friday after a heavily indebted region asked the country for more financial

Duke Energy utilities probe hears from 2 directors

Submitted by Fox First at Ten on July 20th

By EMERY P. DALESIOAP Business Writer RALEIGH, N.C. (AP) - North Carolina utilities regulators are hearing from a long-time Duke Energy Corp. director with a key role in forcing out the CEO within hours of forming the country's largest electric company. Ann Maynard Gray testified Friday at

Unemployment rates rose in 27 US states in June

Submitted by Fox First at Ten on July 20th

By CHRISTOPHER S. RUGABERAP Economics Writer WASHINGTON (AP) - Unemployment rates rose in 27 U.S. states last month, the most in almost a year and a reflection of weaker hiring nationwide. The Labor Department said Friday that unemployment rates fell in 11 states and Washington, D.C. - the fewest

Verizon CFO hints at the release date of the iPhone 5

Submitted by Fox First at Ten on July 20th

By Mike FlacyProvided by

Wall Street douses Chipotle's fiesta

Submitted by Fox First at Ten on July 20th

NEW YORK (AP) - Shares of Chipotle Mexican Grill plunged 22 percent after its second-quarter sales numbers and rising costs led to a spate of downgrades on Wall Street. THE SPARK: The Denver company said late Thursday that its revenue in the second quarter rose by 21 percent. Although that would be

Reliance Industries quarter profit slides 21 pct

Submitted by Fox First at Ten on July 20th

MUMBAI, India (AP) - Reliance Industries reported a 21 percent slide in quarterly profit Friday, as declining oil and gas production and smaller earnings in its core petrochemical and refining businesses failed to make up for better than expected refining margins. It's the third quarter in a

Italy's Monti: debt crisis has spread to Italy

Submitted by Fox First at Ten on July 20th

MILAN (AP) - Italian Premier Mario Monti says the debt crisis has spread to Italy and that the country must try to avoid taking a bailout. At a news conference Friday, Monti says the financial turmoil has weakened trust in the euro currency project. He emphasized that Italy does not need further