Financial news on March 02, 2013

Business and Financial news
Best Buy Narrows Loss

Best Buy reports that it lost less money in fourth quarter as efforts by its new chief Hubert Joly to make company more efficient show progress; loss was $409 million, or $1.21 per share, compared with loss of $1.82 billion, or $5.17 per share, in year-ago quarter. Read more..

By REUTERS - The New York Times

Classic Toys Redesigned to Traverse Generations

Toy makers like Hasbro are continuously tweaking and updating classic toy lines and their accompanying advertising campaigns to appeal to nostalgic adults who grew up playing with them; parents often look to favorites from their own childhoods when buying toys and games for their children. Read more..

By GREGORY SCHMIDT - The New York Times

Concern and Canceled Flights as Airlines Wait for 787

Airlines are canceling more flights and adjusting their routes out of concern that it could be several more months before uncertain fate of Boeing 787 and its battery issues are resolved. Read more..

By JAD MOUAWAD and CHRISTOPHER DREW - The New York Times

Fighting the Insurer Over Hurricane Sandy Damage

Tara Siegel Bernard Your Money column on Andrea and Steve Kondaks, Brooklyn couple who say their insurance company will pay only fraction of what is needed to fix damage to their home by Hurricane Sandy; flood insurance company offered $49,000 for home repairs, while adjuster they hired puts figure needed at $200,000. Read more..

By TARA SIEGEL BERNARD - The New York Times

Globalization, Measured by Investment, Takes a Step Backward

Floyd Norris Off the Charts column observes that world's money is staying closer to home; notes that estimates by McKinsey Global Institute show that global capital flows declined in both 2011 and 2012, when they were 61 percent lower than in peak of 2007. Read more..

By FLOYD NORRIS - The New York Times

Ireland Seeks Easing of Its Debt Terms

The country’s proposal for paying back its bailout is likely to be discussed at a meeting of European finance ministers on next week in Brussels. Read more..

By STEPHEN CASTLE - The New York Times

Peugeot Bets on a Different Kind of Hybrid

The carmaker's experimental Hybrid Air has a reversible hydraulic pump that uses braking energy to compress nitrogen gas for greater fuel efficiency. Read more..

By DAVID JOLLY - The New York Times

Publisher Pulls a 2nd Book by Lehrer, ‘How We Decide’

Houghton Mifflin Harcourt, which published all three of Jonah Lehrer’s books, confirms after fact-checking that it will no longer offer his second book How We Decide for sale; it is second book journalist-wunderkind-turned-plagiarist-and-disgraced-author that publisher has pulled. Read more..

By LESLIE KAUFMAN - The New York Times

Rise Reported in Factories and Consumer Confidence

Data released from Institute for Supply Management and University of Michigan survey shows that busier factories and growing optimism among consumers in 2013 could help economy withstand drag from government spending cuts and tax increases. Read more..

By THE ASSOCIATED PRESS - The New York Times

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