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
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
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
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
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
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
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
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
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