Articles from the Business section archive

Thursday, July 17, 2014

Fifth Third 2Q profit falls 29 percent

Fifth Third Bancorp on Thursday reported earnings that decreased by 29 percent in its second quarter.

Microsoft to cut up to 18,000 jobs over next year

REDMOND, Wash. — Microsoft is cutting up to 18,000 jobs, about 14 percent of its staff, over the next year as it works to cut down on management layers and integrate the Nokia devices business it ...

Wednesday, July 16, 2014

Bank of America takes $4 billion litigation hit

NEW YORK - Bank of America earned $2 billion in the second quarter after payments to preferred shareholders, compared with $3.6 billion in the same period a year earlier, a decline of 43 percent.
By Steve Rothwell

Business news

Textron, parent company to Augusta-based E-Z-Go, said Wednesday that its second-quarter profit was 27 percent higher than a year ago on increased sales across all of its business units.

Rejected Fox bid for Time Warner shows growth mood

NEW YORK - In a move that aims to counter consolidation among TV distributors, Rupert Murdoch's Fox has made an unsolicited takeover offer for rival media giant Time Warner for about $76 billion ...
By Ryan Nakashima

Downtown building to be renovated

The renovation of a downtown building into a sushi restaurant and martini lounge is expected to start this summer.
By Jenna Martin

Construction roundup

Construction Maintenance Co.; B&S Machine Tool Co., 158 Old Wagener Road, Aiken; commercial building, $125,000

Millennials buying homes later

WASHINGTON — Younger Americans are waiting to buy homes because of changes in marital status, education and race.
By Josh Boak

E-Z-GO parents reports higher profits

Profit was $144 million, or 51 cents per share, compared to $113 million, or 40 cents per share, in the second quarter of 2013.

Tuesday, July 15, 2014

Cigarette maker Reynolds to buy Lorillard

Camel cigarette maker Reynolds American Inc.'s $25 billion deal to buy Newport maker Lorillard Inc. creates a formidable No. 2 tobacco company behind Marlboro maker Altria. 
By Michael Felberbaum

Lawn care companies rebound

Local lawn care businesses are welcoming the drier weather this summer after facing one of the wettest summers to go in Georgia's record books in 2013.
By Jenna Martin

Lay's newest flavor: Cappuccino?

Lay's newest flavor could be cappuccino; chip maker to announce new flavor finalists.
By Candice Choi

Chrysler, Saab and Harley-Davidson issue recalls

Chrysler says it is recalling 651,000 Jeep and Dodge SUVs in the U.S.

Yellen says economy still needs Fed support

Federal Reserve Chairwoman Janet Yellen says economy still needs high degree of Fed support because recovery not yet complete.
By Martin Crutsinger

SC strip clubs in trouble

MYRTLE BEACH, S.C. - The prosecutor in Horry County is asking a judge close five strip clubs, saying they have a reputation of prostitution, lewdness and are offensive to public decency.

Monday, July 14, 2014

Sales tax holiday dates set

South Carolina's back-to-school sales-tax holiday will be Aug. 1 through Aug. 3.

Citigroup to pay $7 billion over mortgages

WASHINGTON - Citigroup agreed Monday to pay $7 billion to settle a federal investigation into its handling of risky subprime mortgages, admitting to a pattern of deception.
By Eric Tucker

Overseas deals trim tax bills

A growing number of U.S. companies are looking to trim their tax bills by combining operations with foreign businesses,a trend that may cost the government billions in revenue.
By Tom Murphy

Physician adds 3rd urgent care location

Dr. Mark Newton is adding his third MedNow Urgent Care location in Augusta. He plans to add a fourth center near Grovetown in the next 12 to 18 months.
By Jenna Martin

Georgia tax collections end fiscal year up 5.2 percent

ATLANTA -- When the state's fiscal year wound up last month, tax collections were 5.2 percent above those of the previous year.

Biz Bits

Faye Davis was named top relocation agent for May by Century 21 Larry Miller Realty
Databases

Restaurant inspections

Search databases of the latest restaurant inspection reports for Richmond, Columbia and Aiken counties.

Biz Bits

Lowell Dorn was named president of the board of trustees of the Augusta Museum of History. He is the information manager for Morris Communications.

On The Move

Patrick Kingsmill is the new senior vice president and trust officer at Georgia Bank & Trust.

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