Sony reported Thursday that it's making money again. The Japanese company announced its net income for the latest quarter was $35 million. Much of its success came thanks to a favorable currency rate — a weak yen was key for Sony. Still, the company did see a little improvement in its smart phone sales and entertainment business.
A new fund on the New York Stock Exchange is a collection of stocks in publicly traded companies that have one thing in common: the city they call home. The fund managers say it will be an opportunity for locals to invest in companies they know. If it succeeds, other cities could be next.
As early as September new Internet suffixes — from .nyc to .google to .ngo — will begin rolling out. It's a controversial plan that raised concerns about fraud, trademark infringement and customer confusion, but the Web's governing body says those issues have been addressed.
Most economists say this year's back-to-school sales will be slower than last summer's because consumers have been coping with more expensive gasoline and higher payroll taxes. Still, several states are offering tax-free shopping to encourage purchases.
Both Janet Yellen and Lawrence Summers have awe-inspiring credentials. So Obama's decision seems to come down to whose understanding of the economy most closely matches his own, and which candidate is likeliest to have people looking back years from now saying: "That was an inspired pick."
The Republican-controlled House on Wednesday overwhelmingly approved a bipartisan bill that would allow undergraduates to borrow through the federal Stafford loan program at 3.9 percent for this school year.
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