Home » Archives by category » Business News (Page 4)

Why Low Gas Prices Don’t Mean Cheaper Airplane Tickets

Why Low Gas Prices Don’t Mean Cheaper Airplane Tickets

iStock/Thinkstock(NEW YORK) -- The average gas price in the country is $2.06 a gallon -- down $1.23 from a year ago. So why aren't we seeing any relief in airplane ticket prices?Gas accounts for about 34 to 50 percent of airline costs, but there are several reasons why flying doesn't cost any cheaper for passengers.One reason is that customers are still willing to pay up for plane tickets, so airlines will continue to charge as they want.

Follow @ABCNewsRadio Copyright © 2015, ABC Radio. All rights reserved.

What It’s Like to Be Rich at the Annual Davos World Economic Forum

What It’s Like to Be Rich at the Annual Davos World Economic Forum

Moodboard/Thinkstock(DAVOS, Switzerland) -- It's nothing but the best for the world's elite political and financial leaders who are eating, drinking and sleeping in Davos, Switzerland, this week.About 2,500 people will attend the annual World Economic Forum, where hot topics will invariably include wealth, inequality and the price of oil.This year's motley crew of speakers include musician will.i.am, GM CEO Mary Barra, hedge fund king Ray Dalio, Iraq's Prime Minister Haider al-Abadi, King of the Hashemite Kingdom of Jordan his majesty Abdullah II Ibn Al Hussein and Saudi Prince Turki Al Faisal Al Saud.Private jet companies like NetJets, owned by Warren Buffett's Berkshire Hathaway, projects it will operate 80 inbound and outbound flights across the six-day period around the annual event. London, followed by Paris, are the most active cities for these flights.NetJet will use two of its finest planes that are part of its "Signature Series" aircraft: the 13-passenger Bombardier Global 6000, valued at $65 million, and the 6-occupant Embraer Phenom 300, worth $27 million, according to NetJet spokeswoman Chris Herbert. NetJet customers buy fractional ownership of planes, meaning they can own a quarter or eighth of the jets in 25-hour increments.Before Davos participants even arrive in Switzerland, their luxury amenities include features like the Phenom 300 jet's wardrobe and refreshment center and entertainment system.Many guests enjoy mountain views or at least wine and dine at the Steigenberger Grandhotel Belvédère, or Belvedere Hotel, where secretarial service is available upon request, the hotel says on its website. Guests can hobnob around the hotel's sauna or on the nearby ski slopes. You could also take a leisurely cable car ride in the snow.The Belvedere Hotel is booked this week, but next month, you could reserve a room for $537 a night in a junior suite, breakfast included.The hotel has a number of culinary options, including The Bistro Voilà, where guests can get a "quick snack" on the sun terrace.

Follow @ABCNewsRadio Copyright © 2015, ABC Radio. All rights reserved.

Netflix Closes FY2014 with 4.33 Million New Customers

Netflix Closes FY2014 with 4.33 Million New Customers

Netflix(NEW YORK) -- The picture looks bright for Netflix.The video streaming and production company announced on Tuesday it added 4.33 million customers during the fourth quarter of fiscal year 2014. After the quarterly report was released, shares of the company jumped 16 percent.Netflix also announced plans to continue its international expansion."Our international segment is growing very nicely with net adds of 2.43 million members in Q4, compared to 1.74 million a year ago," the company said in a letter to shareholders Tuesday.Netflix said it next plans to launch its services in Australia and New Zealand. Those launches are projected to take place towards the end of the first quarter of 2015."Our international expansion strategy over the last few years has been to expand as fast as we can while staying profitable on a global basis. Progress has been so strong that we now believe we can complete our global expansion over the next two years, while staying profitable, which is earlier than we expected," Netflix told shareholders in its letter.

Follow @ABCNewsRadio Copyright © 2015, ABC Radio. All rights reserved.

Toyota Remains World’s Biggest Auto Manufacturer

Toyota Remains World’s Biggest Auto Manufacturer

Toyota(NEW YORK) -- Toyota is the world’s biggest auto manufacturer for the third year in a row. The Japanese automaker announced on Wednesday that it sold 10.23 million vehicles worldwide in 2014, up 3 percent from the previous year.By comparison, Volkswagen -- the runner-up -- sold 10.14 million vehicles worldwide last year. General Motors came in third place with 9.92 million.But Toyota could snap its sales streak this year. The company predicts global sales will fall 1 percent in 2015, partly due to a projected 9 percent drop in sales in Japan.

Follow @ABCNewsRadio Copyright © 2015, ABC Radio. All rights reserved.

Low Oil Prices Bring Layoffs at Energy Firm Baker Hughes

Low Oil Prices Bring Layoffs at Energy Firm Baker Hughes

Stockbyte/Thinkstock(HOUSTON) -- Falling gasoline prices may be great for consumers, but they're tough on energy firms and their workers.The latest layoffs announcement comes from the oilfield services firm Baker Hughes, which plans to cut 7,000 employees -- 11 percent of its workforce. While the company doesn't drill, it provides the equipment and services that other companies use to drill for oil. "While market demand ended up being more resilient in the fourth quarter than many had predicted, the recent declines seen in rig counts will clearly affect results in 2015," Baker Hughes CEO Martin Craighead said in a statement Tuesday. "We are taking proactive steps to manage the business through these challenges, and we are well positioned financially for the months ahead."Since last June, global oil prices have plunged 60 percent, making some drilling operations unprofitable. In all, the industry is cutting about 20,000 jobs -- at least until oil prices rebound.

Follow @ABCNewsRadio Copyright © 2015, ABC Radio. All rights reserved.

Snickers Upends Iconic “Brady Bunch” Scene in Super Bowl Ad Teaser

Snickers Upends Iconic “Brady Bunch” Scene in Super Bowl Ad Teaser

iStock Editorial(NEW YORK) — Snickers' Super Bowl ad is attempting to whet the appetites of The Brady Bunch fans with a teaser two weeks before the big game.The 22-second teaser features action star Danny Trejo, from Machete and Sons of Anarchy, in a recreation of an iconic scene from the family sitcom.“It’s not every day that my agent calls and says I’ve been asked to play Marcia Brady,” Trejo said in a statement. “But as soon as I found out it was for Snickers, I knew it would be a blast and something fans are going to appreciate.”Remember Marcia Brady brushing her blond hair with 100 strokes? Creative agency BBDO New York features The Brady Bunch residence and a hungry Marcia Brady in the latest ad in the campaign, "You’re Not You When You’re Hungry."

The first ad in the campaign featured Golden Girls actress Betty White during the 2010 Super Bowl XLIV. Other ads in the campaign have featured the late actor Robin Williams and Cleveland Browns quarterback Johnny Manziel.The latest, full 30-second commercial will air during the first quarter of Super Bowl XLIX on Feb. 1.But if fans want to watch the full ad before the big game, they'll have to post on YouTube, Facebook or Twitter with the hashtag #eatasnickers.If social media users generate more than 2.5 million social media mentions before Feb. 1, Snickers will release the full ad earlier.Teasing Super Bowl ads has become a standard practice these days. On Tuesday, Dove Men+Care introduced its Super Bowl ad called "Real Strength," which features the voice of ESPN broadcaster Mike Greenberg, father of two.

On Friday, Bud Light revealed that its Super Bowl commercial will feature a life-sized Pac Man board.

Follow @ABCNewsRadio Copyright © 2015, ABC Radio. All rights reserved.

The Printed Page Is Still Number One in America’s Book

The Printed Page Is Still Number One in America’s Book

iStock/Thinkstock(NEW YORK) — Although it seems that everyone now reads their books on Kindle or other e-devices, Nielsen BookScan says just the opposite.In its most recent survey, Nielsen BookScan found that paper book sales increased by 2.4 percent in 2014 at book stores and online retailers like Amazon.That’s not to say that eBooks are going away. In fact, they’re here to stay.However, paper still dominates with anywhere from two-thirds to about three-quarters of the book market, depending on which studies you look at.Meanwhile, a recent Hewlett-Packard survey finds that college students who’ve tried both printed books and eTextbooks, prefer the former to the latter, 57 percent to 21 percent.

Follow @ABCNewsRadio Copyright © 2015, ABC Radio. All rights reserved.

Gas Prices Continue to Fall, Down Seven Cents from Last Week

Gas Prices Continue to Fall, Down Seven Cents from Last Week

FeelPic/iStock/Thinkstock(NEW YORK) -- The average price of gas in the United States continues to fall, down seven cents from last week.According to the U.S. Energy Information Administration, the average cost of a gallon of gas nationally is just $2.07. Gas prices are lowest, once again, in the Gulf Coast, where the average gallon costs just $1.84. That's much lower than on the West Coast, where a gallon costs $2.38.Of the states in which gas prices are tracked by the EIA, gas is most expensive in California, $2.48 per gallon, for the second straight week. Prior to January 12's report, New York had had the country's most expensive gas.

Follow @ABCNewsRadio Copyright © 2015, ABC Radio. All rights reserved.

Facebook Tweaks News Feed to Cut Down on Hoaxes

Facebook Tweaks News Feed to Cut Down on Hoaxes

ABC News(NEW YORK) -- A new Facebook policy aims to scrub your news feed clean of possible hoaxes.

The first line of defense for stopping the spread of misinformation is with users. Facebook is asking people to help weed out false and misleading reports by flagging stories with a simple click.

If enough people report a story, Facebook said it will still share the message in news feeds but will add a warning message that indicates a post has been reported as a potential hoax.

The algorithm will also take into account how many people choose to delete a post after a link has been reported, which Facebook said often signals that a story is bogus.

When it comes to your favorite satirical news websites, you can rest easy. The social network said it found in testing that people tend to not report content that is clearly created to garner a few laughs.

Follow @ABCNewsRadio Copyright © 2015, ABC Radio. All rights reserved.

 

Wall Street Rallies to Post Gains Tuesday

Wall Street Rallies to Post Gains Tuesday

iStock/Thinkstock(NEW YORK) -- Wall Street rallied from early-session losses Tuesday to post small gains, while gas prices continued to fall.The Dow Jones Industrial Average gained 3.66 to a close of 17,515.23.The Nasdaq jumped 20.47 to 4,654.85, while the S&P 500 ended the session at 2,022.55, up 3.13 from its open.Earlier Tuesday, the U.S. Energy Department's Energy Information Administration released the weekly report on gas prices, placing the national average price of a gallon of gas at $2.14. ABC's Chief Economic and Business correspondent Rebecca Jarvis predicted that if the current trend continues, that figure could dip below $2 per gallon by the weekend.Also on Tuesday, Shake Shack filed documents with the Securities and Exchange Commission detailing its IPO, which could be worth as much as $80 million.

Follow @ABCNewsRadio Copyright © 2015, ABC Radio. All rights reserved.

Shake Shack Unveils Expectations for IPO

Shake Shack Unveils Expectations for IPO

Shake Shack(NEW YORK) -- Burger chain Shake Shack filed new preliminary documents with the Securities and Exchange Commission on Tuesday describing its expectation for its initial public offering.The documents filed by the company anticipate the sale of five million shares of the stock at an IPO price of $14 to $16, about the cost of two double shackburgers from the popular eatery. The company has also filed to be listed on the New York Stock Exchange under the symbol "SHAK."Documents previously filed with the SEC hinted at an IPO, but did not list how many shares it expected to offer or at what price.Shake Shack began in 2001 as a single hot dog cart in Madison Square Park in New York City. Created by Danny Meyer's Union Square Hospitality Group, the cart was a success, and in 2004, USHG won a bid to open a permanent kiosk in Madison Square Park.There are now 62 Shake Shack locations worldwide listed on the company's website, ranging from New York City to Beirut and Las Vegas to Moscow.According to documents filed with the SEC, Shake Shack posted a profit of about $5.4 million in 2013, up from $4.1 million in 2014.Shake Shack plans to use the proceeds from the IPO to repay money borrowed, open new locations and renovate existing locations.

Follow @ABCNewsRadio Copyright © 2015, ABC Radio. All rights reserved.

Shake Shack Unveils Expectations for IPO

Shake Shack Unveils Expectations for IPO

Shake Shack(NEW YORK) -- Burger chain Shake Shack filed new preliminary documents with the Securities and Exchange Commission on Tuesday describing its expectation for its initial public offering.The documents filed by the company anticipate the sale of five million shares of the stock at an IPO price of $14 to $16, about the cost of two double shackburgers from the popular eatery. The company has also filed to be listed on the New York Stock Exchange under the symbol "SHAK."Documents previously filed with the SEC hinted at an IPO, but did not list how many shares it expected to offer or at what price.Shake Shack began in 2001 as a single hot dog cart in Madison Square Park in New York City. Created by Danny Meyer's Union Square Hospitality Group, the cart was a success, and in 2004, USHG won a bid to open a permanent kiosk in Madison Square Park.There are now 62 Shake Shack locations worldwide listed on the company's website, ranging from New York City to Beirut and Las Vegas to Moscow.According to documents filed with the SEC, Shake Shack posted a profit of about $5.4 million in 2013, up from $4.1 million in 2014.Shake Shack plans to use the proceeds from the IPO to repay money borrowed, open new locations and renovate existing locations.

Follow @ABCNewsRadio Copyright © 2015, ABC Radio. All rights reserved.

NH Introduces New Bacon-Scented, Scratch-and-Sniff Lottery Ticket

NH Introduces New Bacon-Scented, Scratch-and-Sniff Lottery Ticket

NH Lottery(NEW YORK) -- Lottery tickets in New Hampshire just got a whole lot more fun, win or lose. The smell of bacon will be wafting up from the state’s first-ever scented scratch-off ticket.The “I Heart Bacon” scratch ticket costs $1 and offers a grand prize of $1,000. When players scratch the ticket, a “generous” whiff of bacon is released.“The lottery is focused on developing new and fun ways to engage customers. The ‘I Heart Bacon’ scratch ticket combines two things people love: the chance to win cash and the wonderful, enticing smell of bacon,” New Hampshire Lottery Commission executive director Charlie McIntyre said in a statement. “Every time players scratch an ‘I Heart Bacon’ ticket, they will think it is time for Saturday morning breakfast, and they might just scratch and sniff their way to $1,000!”The odds of winning the grand prize are one in 391,800. But you have one in 7.89 odds of winning back your dollar.

Follow @ABCNewsRadio Copyright © 2015, ABC Radio. All rights reserved.

NH Introduces New Bacon-Scented, Scratch-and-Sniff Lottery Ticket

NH Introduces New Bacon-Scented, Scratch-and-Sniff Lottery Ticket

NH Lottery(NEW YORK) -- Lottery tickets in New Hampshire just got a whole lot more fun, win or lose. The smell of bacon will be wafting up from the state’s first-ever scented scratch-off ticket.The “I Heart Bacon” scratch ticket costs $1 and offers a grand prize of $1,000. When players scratch the ticket, a “generous” whiff of bacon is released.“The lottery is focused on developing new and fun ways to engage customers. The ‘I Heart Bacon’ scratch ticket combines two things people love: the chance to win cash and the wonderful, enticing smell of bacon,” New Hampshire Lottery Commission executive director Charlie McIntyre said in a statement. “Every time players scratch an ‘I Heart Bacon’ ticket, they will think it is time for Saturday morning breakfast, and they might just scratch and sniff their way to $1,000!”The odds of winning the grand prize are one in 391,800. But you have one in 7.89 odds of winning back your dollar.

Follow @ABCNewsRadio Copyright © 2015, ABC Radio. All rights reserved.

How Google, SpaceX Could Create Space-Based Internet Service

How Google, SpaceX Could Create Space-Based Internet Service

iStock/Thinkstock(NEW YORK) -- The great Internet space race is shaping up to be a wild ride.Google and SpaceX both share the same vision to create an Internet service that can connect people in all corners of the world and now both companies are reportedly considering working together to connect the world with satellites as the middlemen.Elon Musk, the CEO of SpaceX, said he wants to launch a constellation of satellites to create a global Internet service that could connect people who don't have access and would handle long-distance traffic."It's like rebuilding the Internet in space," Musk told an audience in Seattle last week, where his company is opening a satellite production plant.The possible billion-dollar partnership was first reported by technology website "The Information," which cited someone familiar with negotiations between the two companies.Partnering with Musk's SpaceX to create a constellation in low-Earth orbit seems like a fit for Google, which has long had its sights on global connectivity. Through its Project Loon, the company has been testing large Internet-equipped balloons that float through the stratosphere.Google took its interest a step further in April of last year when the company acquired drone company Titan Aerospace. Acknowledging it was "still early days," Google said in a statement that "atmospheric satellites could help bring internet access to millions of people, and help solve other problems."Musk's plan differs from Project Loon and other attempts by creating smaller satellites that can be launched into low-Earth orbit. While it wouldn't necessarily -- or immediately -- replace all hard-wired communications, Musk explained why his plan was ideal for long-distance communications.Communicating across long distances is faster if the information is routed through a vacuum instead of a fiber, allowing "inherently better...long distance traffic through space," he said.While neither company has commented on the reports they will team up, Musk said he plans to use eventual revenue from the project to help fund his dream of colonizing Mars.Musk's announcement came the same week Virgin Galactic and Qualcomm teamed up with satellite company OneWeb to announce plans for a similar satellite system to foster high speed worldwide connectivity.

Follow @ABCNewsRadio Copyright © 2015, ABC Radio. All rights reserved.

How You Can Buy Gas for Under $1 a Gallon

How You Can Buy Gas for Under $1 a Gallon

Getty Images(NEW YORK) -- While oil and gas prices are plummeting, some drivers can take advantage of deeper discounts than others -- thanks to your local grocery store.In Arizona, grocery shoppers can get gas below $1 a gallon thanks to their rewards programs at Shell or Circle K stations.Market chains like Safeway and Walmart also offer rewards and discount programs that tie grocery purchases with gas rewards.The fuel program at Fry's Food Stores, owned by The Kroger Company, offers up to $1 off per gallon on fuel purchases. Shoppers can redeem up to 1,000 fuel points in a single fill-up at Fry's or at participating Shell or Circle K Stations for up to $1 off per gallon. For each increment of 100 fuel points redeemed at Fry's, 10 cents off per gallon will be awarded, up to 35 gallons.Safeway’s program offers 10 cents off per gallon for every $100 spent in the stores. For every dollar you spend on groceries at Safeway you get one point. Earning 200 points gives you 20 cents off per gallon, good for a single visit at a participating gas station. Exxon Mobil stations are the ones partnering with Safeway in this offer.Walmart's credit card offers a 5 cent discount per gallon at the pump, or a 3 cent discount with Walmart's money or gift card, at about 1,000 Walmart or Murphy USA gas stations in 21 states. There's an exception in Alabama, where you have to get the discount on your statement, and not directly at pump.

The average price for regular is $2.14 a gallon, according to the Energy Department's weekly analysis of national gas prices released on Monday. That's down about $1.19 from a year ago and nearly 8 cents from last week.

Warning: Falling gas prices and fuel rewards programs may incite pump envy. For example, some states like Wisconsin, won’t let gasoline be sold at a loss. The Wisconsin Unfair Sales Act essentially prohibits selling gasoline without marking it up either 6 percent over cost or 9.18 percent over the local wholesale price, whichever is higher.

Follow @ABCNewsRadio Copyright © 2015, ABC Radio. All rights reserved.

JCPenney’s New Mailer: Don’t Call It a Catalog

JCPenney’s New Mailer: Don’t Call It a Catalog

JC Penney(NEW YORK) -- In a blast from the past -- sort of -- JCPenney is bringing back old-school mailings to draw customers to its website and brick-and-mortar stores.JCPenney is adamant that the 120-page mailer isn't a catalog like the "Big Book" mailings of old, but a more streamlined marketing tool, a company spokeswoman told ABC News.The traditional Big Book catalogs launched in 1963, with three Big Books each year sometimes spanning 1,000 pages, the company said. The last of those was the Fall/Winter 2009 issue.In contrast, the new JCPenney mailer will focus on home and lifestyle products and not on fashion. Fashion items comprised a large portion of vintage JCPenney catalogs that can still be found online."We are simply issuing a more robust home mailer, which is something we used to do prior to 2012 before new leadership took over. Customers, particularly when it comes to home items, still like flipping through a traditional print piece," along the lines of those by Pottery Barn, Crate and Barrel and West Elm, a JCPenney spokeswoman said.The mailer is a "traffic-driving piece" with the goal of having customers visit JCP.com, call customer service, or go to one of about 1,100 JCPenney stores.JCPenny, based in Plano, Texas, is at the tail-end of a turnaround plan. In November, it reported dropping sales in its third quarter. But this month, the company reported its recent holiday sales had increased 3.7 percent compared to the previous year.

Follow @ABCNewsRadio Copyright © 2015, ABC Radio. All rights reserved.

Windows 10: What to Expect from Microsoft’s Big Event

Windows 10: What to Expect from Microsoft’s Big Event

jhutchin/iStock Editorial/Thinkstock(REDMOND, Wash.) -- Microsoft is gearing up for a Windows 10 event on Wednesday that should provide new insights into the operating system makeover that the technology giant first teased last year -- along with a number of other surprises.Billed as the "next chapter" event for Windows 10, Microsoft will host a live stream from their Redmond, Washington headquarters on Wednesday at 12 p.m. ET.At the top of the list is the report of a new default browser that is not Internet Explorer. The news was first tweeted by Thomas Nigro, a Microsoft student partner lead.The tweet was corroborated by ZDNet, which cited sources saying that the tech company is building a new browser that will have a similar user experience to Mozilla's Firefox and Google's Chrome.A new browser would be huge news for the legions of Microsoft fans who have a love-hate relationship with Internet Explorer.Microsoft is also expected to discuss more of the consumer features for Windows 10 at the event. The latest operating system was unveiled in September and has an emphasis on increasing productivity.Among the new features are multiple desktops, the ability to work within multiple windows without switching screens and a "task view" feature.Many keen Microsoft observers will note that the company skipped over the No. 9 in naming the latest iteration of the software. It's something a company spokesman said signals how the operating system has evolved."Windows 10 carries Windows forward into a new way of doing things. It is not an incremental change, but a new Windows that will empower the next billion users," the spokesperson said.It's also worth noting that the event comes nearly one year after Satya Nadella became CEO of Microsoft. The event is perhaps Nadella's most important moment to date during his tenure, marking the release of new products that align with Microsoft's goal of increasing productivity for its users.

Follow @ABCNewsRadio Copyright © 2015, ABC Radio. All rights reserved.

Oreo Launching New Red Velvet Flavor

Oreo Launching New Red Velvet Flavor

OREOS(NEW YORK) -- After months of rumors and hopeful Tweets, Oreo has confirmed that it is introducing a brand-new flavor: red velvet.The company took 18 months to perfect the flavor, which has a red velvet cookie with cream cheese-flavored crème inside.“The brand decided on Red Velvet Oreo as its latest flavor as part of its ongoing mission to put its own twist on popular flavors,” an Oreo representative told ABC News. “This time around, OREO saw how much consumers love all things red velvet, so it decided to combine the perfect mix of the chocolate OREO cookie taste fans love with a cream cheese-flavored crème for those red velvet fanatics.”The cookie goes on sale starting Feb. 2, but fans can win an early taste at OreoRedVelvetRope.com through Jan. 22.

Follow @ABCNewsRadio Copyright © 2015, ABC Radio. All rights reserved.

High Movie Ticket Prices Driving Down Ticket Sales

High Movie Ticket Prices Driving Down Ticket Sales

iStock Editorial/Thinkstock(NEW YORK) — TV may be better than ever but that's not the only thing responsible for fewer movie tickets sold in 2014.In fact, a PricewaterhouseCoopers survey says that the leading cause of the decline in domestic box-office revenue had to do with the rising cost of seeing a movie. Fifty-three percent of respondents gave that as their reason for fewer trips to the local multiplex.During the third quarter of last year, the average price of a ticket was $8.08, about 24 cents higher than the same period in 2013. Meanwhile, concession revenue climbed ten percent to an average of $4.29 per movie customer.As a result, one in four U.S. consumers said they saw fewer movies last year.PricewaterhouseCoopers said everything that the industry is doing to try and counter these losses appears to have little effect -- that includes 3-D movies, advances in digital technology and improved seating.

Follow @ABCNewsRadio Copyright © 2015, ABC Radio. All rights reserved.

Advertise With Us

Would you like to advertise on East Idaho News? Fill out this form to contact a representative.
  • Full and Last
  • The name of your company, business or brand.