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Beef recall announced over E. coli fears
RICHFIELD, Minn., March 29 (UPI) -- U.S. electronic retailer Best Buy Co. said it would close 50 big box stores in 2012 after posting a $1.7 billion loss in the fourth quarter.
MarketWatch reported Thursday that sluggish sales of televisions and light-weight, notebook computers contributed to the loss. In the previous quarter, the store chain earned $651 million.
The retail chain also had $2.6 billion in charges related to closing stores in Britain and buying Carphone Warehouse Group out of its Best Buy Mobile profit sharing agreement.
The company's plan is to save $800 million in operating costs by the fiscal year 2015, MarketWatch said.
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ERBIL, Iraq, June 19 (UPI) --
Iraq's Kurds have consolidated their growing energy sector with Chevron Corp. securing a third exploration block in the semiautonomous northern region that increasingly operates as a de facto independent state and France's Total buying a majority stake in another.
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RIYADH, Saudi Arabia, June 19 (UPI) --
Britain's BAE Systems, Europe's biggest defense company, reportedly expects to wrap up a price deal with Saudi Arabia for 72 Eurofighter Typhoon combat jets after two years of tortuous negotiations.
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Properties repossessed by lenders in the first quarter took an average of 477 days to complete the foreclosure process, up from 414 days in the previous...
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Nobody likes spending cuts but the champion of that attitude is clearly President Barack Obama, who seems to have a very clear pain-avoidance agenda.
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