Facebook Inc. reported fourth-quarter earnings that exceeded expectations and said the percentage of advertising revenue generated from mobile apps is growing. The company's stock has been rising in recent months, though it still hasn't hit its initial public offering price of $38.
Economists foresee only tepid growth for the coming year, with unemployment back above 8 percent for the first half of 2013.
The National Retail Federation is opposing a proposed $7.25 billion settlement that Visa Inc., MasterCard Inc. and major banks have agreed to pay retailers for alleged fee fixing.
Americans bought fewer new homes in June after sales jumped to a two-year high in May. The steep decline suggests a weaker job market and slower growth could make the housing recovery uneven.
Wal-Mart Stores Inc., the world's biggest retailer, has thrown its considerable weight behind a group of retailers urging a rejection of the proposed $6 billion settlement that Visa Inc., MasterCard Inc. and major banks have agreed to pay for alleged fee-fixing involving "swipe" charges for credit card purchases at stores and other retail outlets.
President Obama portrays himself as a watchdog of credit card companies and a critic of their fees, but his re-election campaign is a gold mine for some of those same companies.
It's one of the last unexplored frontiers for American business, but the opening of the once-sealed economy of Myanmar as the country's military makes democratic reforms has both peril and promise for U.S. companies looking to invest there.
Visa, MasterCard and major banks agreed to pay retailers at least $6 billion to settle a long-running lawsuit that alleged the card issuers conspired to fix the fees that stores pay to accept credit cards. As part of the settlement, announced late Friday, stores from Rite Aid to Kroger will be allowed to charge customers more if they pay using a credit card.
Facebook's initial public offering of stock is shaping up to be one of the largest ever. The world's definitive online social network is raising at least $16 billion, a big windfall for a company that began eight years ago with no way to make money.
