By ABC News

Consumer Report
Jul 22, 2014 9:21am

McDonald’s, Coca-Cola Come Up Short

Morning Money Memo: ABC News’ John Kapetaneas reports: McDonald’s and Coca-Cola both missed analysts estimates this quarter, with McDonald’s posting a 1 percent drop in profits while Coke saw a nearly 3 percent decline in revenues. The fast-food and soda maker stood in contrast with… Read More »

By ABC News

Economy
Jul 21, 2014 11:02am

Ukraine Effect on Markets?

ABC News’ John Kapetaneas reports: Morning Money Memo … The crisis in Ukraine is shaking many economies across the globe this morning, although not nearly the level seen this past Friday. Markets in Europe were down across the board, with Italian and German markets leading… Read More »

Consumer Report
Jul 17, 2014 8:57am

Microsoft to Eliminate 18K Workers as It Absorbs Nokia

Morning Money Memo: Microsoft plans to layoff 14 percent of its workforce in the next year, or 18,000 employees, as it works to integrate the Nokia devices business it bought in April. With the Nokia deal, Microsoft’s employee headcount rose to 127,000 as of last… Read More »

Companies
Jul 16, 2014 8:29am

Rupert Murdoch and Fox in Bid for Time Warner

Morning Money Memo… Time Warner is in play and its shares jumped 14 percent this morning after a published report said Twenty-First Century Fox, run by Rupert Murdoch, made a takeover offer. The New York Times’ Deal Book column says the bid was rejected. But… Read More »

Consumer Report
Jul 15, 2014 9:32am

Reynolds’ Lorillard Deal to Reshape Tobacco Industry

Morning Money Memo… Where there’s smoke there’s a merger. Reynolds American says it will buy its smaller rival Lorillard for $27.4 billion. The complicated cash and debt deal will reshape the U.S. tobacco industry with more significant competition for Altria Group, which makes Marlboro, by… Read More »

Companies Consumer Report
Jul 14, 2014 9:14am

Citigroup Socked With $7B Bill for Selling Toxic Mortgages

Morning Money Memo: Citigroup will pay $7 billion to settle a government investigation into the sale and marketing of toxic sub-prime mortgages. Such securities were blamed for fueling the boom and bust that triggered the recession in late 2007. The agreement, announced this morning, came… Read More »

By ABC News

Companies Consumer Report
Jul 11, 2014 12:14pm

Billionaires Bring Their Muscle to Immigration Debate

Daily Money Memo ABC News’ John Kapetaneas reports: Billionaires tackle immigration this morning. Mega-moguls Warren Buffett, Bill Gates and Sheldon Adelson expressed their concerns in today’s New York Times about the state of immigration overhaul in the United States. The joint op-ed piece explained that… Read More »

Companies Consumer Report
Jul 10, 2014 8:01am

Economy at Long Last Is Gaining Traction

Morning Money Memo… It’s official. The Federal Reserve is sounding more confident that the US economy really is gaining strength. The Fed said in a statement that it plans to stop adding to its bond holdings by October. Interest rates are expected to remain low… Read More »

Companies
Jul 9, 2014 7:57am

Honda’s Air Bag Recall Gets Bigger

Morning Money Memo… Another massive auto industry safety recall just got bigger. Honda, one of eight manufacturers affected by problems with a supplier’s air bags, is expanding its recall by as many as one million more autos in California. The air bags made by the… Read More »

Companies Consumer Report
Jul 8, 2014 9:07am

Mortgage Mess Settlement Means $3B for Homeowners

Morning Money Memo: The impact of the mortgage mess keeps rumbling through the economy, nearly seven years after the crisis began. A new report says homeowners have received about $3.1 billion in cash as part of a federal settlement with 13 big banks. The deal… Read More »