User uShare Login | Register
Login
Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.


19° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

News

[0] My Saved Articles
Back to all news

Business

Find local businesses
on the KELO Pages!

 

Tuesday Evening Business Brief

October 9, 2012, 5:41 PM

Tuesday Evening Business Brief
  • Stocks lost ground today after the International Monetary Fund predicted weaker global economic growth. At the closing bell on Wall Street, the Dow dropped 110 points to 13,474. The S&P declined 14 points, while the Nasdaq lost 47.
  • Aluminum manufacturer Alcoa says it lost $143 million in the third quarter due to charges, but the results otherwise topped Wall Street's forecasts. Alcoa is the first company in the Dow Jones industrial average to report earnings.
  • Wal-Mart is testing a same-day delivery service in some areas for its customers buying during the holiday shopping season. The move comes as the world's largest retailer faces increasing competition from Amazon.com, which is itself testing same-day delivery service in 10 markets.
  • The federal government has sued Wells Fargo Bank in New York, blaming the nation's largest originator of home mortgages for thousands of loan defaults over the last decade. A civil mortgage fraud lawsuit filed in U.S. District Court in Manhattan seeks to recover hundreds of millions of dollars that the Federal Housing Administration, which insured the loans, had to pay out after borrowers defaulted.
  • Penske Media, owner of the edgy entertainment website Deadline, has purchased legendary show business publication Variety for $25 million. Variety has covered show business since 1905 and is still considered a major source of entertainment news. Parent Reed Elsevier had put Variety up for sale in March as part of an effort to move away from advertising reliant businesses.

Find more business stories on the Back To Business page.

Previous Story

Next Story




Sponsored
Find Local Businesses on KELO Pages!

View business

You may also like

Auto Dealer Chain To Pay Fine For Deceptive Ads

12/12/2014 11:41 AM

A family-owned chain of automobile dealerships located in Iowa, Montana and South Dakota will pay a $360,000 civil penalty for running deceptive ads.

Full Story
National Attention For Sioux Falls Bakery

12/15/2014 9:56 AM

A Sioux Falls bakery is getting more national recognition.  CH Patisserie has been named one of the top 75 bakeries in the nation by The Daily Me...

Full Story
Cliff Hangers Gallery Closes; Customers Want Items Back

12/15/2014 10:10 PM

For more than two decades, Cliff Hangers Gallery has been a fixture in Sioux Falls.  A couple of years ago, the business moved from Park Ridge Ga...

Full Story | Watch
What Will Cost More/Less In 2015

12/16/2014 1:36 PM

Industry experts say gasoline prices will continue to fall in 2015, but other prices are expected to rise.

Full Story
Denny Sanford To Donate $25 Million For Scholarship Program

12/16/2014 4:30 PM

Philanthropist T. Denny Sanford is donating $25 million to South Dakota for a scholarship program for the state's technical schools.&nbs...

Full Story


Events