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U.S. department stores steady profitability boat even as sales slide

U.S. department store chains, hit by slowing sales for more than two years, have used layoffs, store closings and cutbacks to maintain one aspect of stability: profit margins. An analysis of two important indicators of retail profitability, gross margins and operating margins, shows retailers like Kohl's Corp , JC Penney Co Inc , Macy's Inc and Target Corp have done a better job at delivering on profitability than maintaining sales growth.

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U.S. department stores steady profitability boat even as sales slide

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Toyota again leads U.S. auto reliability survey, Buick surprises

Two Toyota Motor Corp brands again led the annual reliability survey from Consumer Reports magazine, and General Motors Co's Buick was the first American brand in at least 35 years to crack the top three, the consumer magazine said on Monday. It was the fourth …

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Toyota again leads U.S. auto reliability survey, Buick surprises

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Tesla wins U.S. antitrust approval to buy SolarCity

Tesla Motors Inc has won U.S. antitrust approval to buy solar panel installer SolarCity Corp , moving closer to its goal of creating a carbon-free energy and transportation company. The Federal Trade Commission said on Thursday that the deal was approved. Tesla said in July after it made its first offer that by acquiring SolarCity the two companies would form a one-stop shop for clean energy, offering consumers solar panels, home battery storage and electric cars under a single brand.

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Tesla wins U.S. antitrust approval to buy SolarCity

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U.S. new home sales drop from eight-year high

New U.S. single-family home sales fell in May from a more than eight-year high amid weakness in three regions, but the overall housing market remains intact. The Commerce Department said on Thursday new home sales dropped 6.0 percent to a seasonally adjusted annual rate of 551,000 units. Economists polled by Reuters had forecast new home sales, which account for about 9.1 percent

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U.S. new home sales drop from eight-year high

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Merrill Lynch to pay $415 million for misusing customer cash: SEC

An SEC investigation found that Merrill Lynch violated the an SEC rule in place for protecting customers' assets by misusing customer cash that should have been deposited in a reserve account, the agency said. The maneuver freed up billions of dollars per week from 2009 to 2012 that Merrill Lynch used to finance its own trading activities, the SEC said. The case is the largest customer protection settlement in SEC history, Andrew Ceresney, direction of the SEC's Division of Enforcement, said in a call with reporters.

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Merrill Lynch to pay $415 million for misusing customer cash: SEC