Financial news on August 17th, 2013

Business and Financial news
Chevrolet’s Cheap Minicar, the Spark, Is a Surprisingly Strong Seller

Chevrolet's inexpensive mini Spark car is unlikely hit as many American buyers warm to car, even though automaker that has traditionally struggled to sell small vehicles; four-door Spark, made in South Korea, starts at $12,170 and get about 35 miles per gallon. Read more..

By JACLYN TROP - The New York Times

Consumer Confidence Slips From 6-Year High

Consumer confidence rises less than expected in July, potentially dimming hopes of acceleration in economic activity for second half of year; data suggests recent jump in interest rates, in anticipation of the Federal Reserve’s tapering its bond purchases, is starting to weigh on households. Read more..

By REUTERS - The New York Times

Fed Says It Will Collect $440 Million in Fees From Banks

Federal Reserve says it expects to collect $440 million in fees from 70 big banks and other financial firms to help cover costs of expanding regulation. Read more..


Fox Decides Not to Produce Hillary Clinton Mini-Series

Fox Television Studios says it will not be involved with hotly debated Hillary Rodham Clinton miniseries on NBC; decision comes on same day as vote by Republican National Committee to ban any presidential debates in 2016 primary season from NBC because of proposed movie; Fox executive says decision was entirely financial decision. Read more..

By BILL CARTER - The New York Times

Hanging Out at the E-Mall

Web entrepreneurs are moving closer to duplicating real-world feel of mall experience, where shoppers can pop in and out of multiple stores and browse with advice of friends; replicating those experiences is creating category of e-commerce loosely known as social shopping, with venture capitalists and big players like Amazon and eBay taking notice. Read more..

By JENNA WORTHAM - The New York Times

Songwriters Sue to Defend a Summer Hit

Lawsuit filed by Robin Thicke and his co-writers, Pharrell Williams and Clifford Hayes Jr, aims to protect their song from claims by Marvin Gaye's three children that hit Blurred Lines infringed on copyright of Gaye's 1977 hit Got to Give It up; Thicke and songwriters insist they were inspired by Gaye's song, but didn’t copy it. Read more..

By BEN SISARIO - The New York Times

Struggling Division at Disney Pins High Hopes on a New Video Game

Walt Disney Company is hoping its Infinity video game will demonstrate its capabilities in make-or-break effort to turn around its gaming and Web division. Read more..

By BROOKS BARNES - The New York Times

See what else happened on August 17th, 2013