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Business

Geisel Will Turn To Layoffs

Wednesday, October 1, 2014

Lebanon — Financial woes at Dartmouth College’s Geisel School of Medicine will lead to layoffs, the college said Tuesday. “As part of our plan to return to a sustainable budget, we are restructuring some areas of the medical school, which unfortunately will result in the elimination of some positions,” spokeswoman Diana Lawrence said in an emailed statement. Lawrence declined to comment “on the number of layoffs or the details of …

Redemptions at Pimco After Gross’ Resignation

Tuesday, September 30, 2014

New York — Pacific Investment Management Co.’s Chief Executive Officer Douglas Hodge said the firm is expecting and is ready for client redemptions following the departure of co-founder Bill Gross. In a conference call with analysts where he was joined by top executives at Pimco parent Allianz SE, Hodge said management changes have triggered reviews with some clients and that it’s too early …

Air Traffic Sabotage Impact Could Be in the Millions

Tuesday, September 30, 2014

Chicago — The economic impact of a sabotaged radar center near Chicago that struck at the heart of the nation’s air transportation grid will easily soar into tens of millions of dollars and perhaps hundreds of millions, experts say. The impact on some 44,000 passengers alone has already climbed near $30 million, according to masFlight, an aviation operations data firm. And that doesn’t …

American Tests $8,000 ‘Lie-Flat Bed’ to Los Angeles

Sunday, September 21, 2014

For $8,000, American Airlines treats select Los Angeles passengers to private berths, three- course meals boasting shrimp scampi and even vented compartments that can house socialites’ chihuahuas. The costliest U.S. domestic fare is a bet that some fliers …

Are Prisons Holding Back U.S. Recovery?

Sunday, September 21, 2014

Washington — Janet Yellen and her colleagues at the Federal Reserve are bringing the economy in for a landing, but the instrument panel has gone haywire, giving contradictory readings on the job market. Many Americans are still working only part time, and workers still aren’t getting higher wages …

Red Flags Don’t Temper Alibaba’s Hot Debut

Sunday, September 21, 2014

Washington — The Alibaba Group, China’s e-commerce powerhouse, made history Friday when it raised more than $21 billion in a record-breaking stock market debut. So what exactly did investors buy? A piece of a Caribbean-based holding company with tenuous ties to the actual firm. An ownership stake that’s …

Beer Icon Pabst Blue Ribbon Sold to Russian Beverage Firm

Sunday, September 21, 2014

Pabst Brewing Co. is changing owners for the second time in about four years, as Russia’s Oasis Beverages and TSG Consumer Partners LLC linked up to buy the company behind American brews such as Pabst Blue Ribbon. Pabst, which also sells brands such as Schlitz and Old Milwaukee, …

Google, Car Firms At Odds Over Driverless Future

Sunday, September 21, 2014

San Francisco — With its vision for a future where cars drive themselves, Google is putting itself at odds with an auto industry that shares its desire for safer, less-congested roads - yet won’t abide the “driverless” part. The clash pits the Internet giant, public for barely a …

VW Denies Microbus Rumor

Sunday, September 21, 2014

Don’t believe everything you see on the Internet. Volkswagen is not poised to introduce a new version of its legendary microbus. A spate of rumors and even a set of photos sprang up on the Web this week, featuring stats, specs and details on the 2015 version of …

U.S. Stocks Move Little Despite Alibaba Debut

Sunday, September 21, 2014

New York — U.S. stocks were little changed on Friday after a three-day rally as shares of Alibaba began trading and corporate takeovers boosted investor optimism. Alibaba climbed 38 percent in its U.S. trading debut, after the company raised a record-breaking $21.8 billion. Dresser-Rand rallied 9.4 percent as …

Internet Inventor Slams Corporate Agenda of Web

Sunday, September 21, 2014

A quarter-century ago, Timothy Berners-Lee designed the world’s first Web browser and server, kicking off a thing that people started calling the World Wide Web. In a visit to The Washington Post, on Thursday, Berners-Lee said that system is now in danger from Internet service providers (ISPs) who …

Investigation Uncovers Cyberattacks On Military

Thursday, September 18, 2014

Defense contractors recently suffered a barrage of cyberattacks from the Chinese government, according to a Senate investigation released Wednesday that revealed startling vulnerabilities in how the Pentagon transports troops and equipment. Contractors working for the U.S. Transportation Command were successfully hacked about 50 times over a 12-month span …

Spirit Airlines Paves the Way for Bare-Bones Flying

Thursday, September 18, 2014

Miramar, Fla. — When you purchase a ticket to fly America’s fastest-growing and most-criticized airline, here is what you get: a seat, a mini-tray-table, free use of the bathroom, room for your legs, maybe even some room for your knees. You pay for everything else. A printed boarding …