Consumer Report
Mar 20, 2014 5:24pm

Sponge Soaks Up ‘Shark Tank’ Success, Sales Balloon to $18M

If you’re a fan of ABC’s popular Friday-night TV show “Shark Tank,” you’ve probably watched dozens of inventors pitch their strange ideas, begging for backers. Aspiring entrepreneurs have to have thick skin. More than half of the people who show up never strike a deal,… Read More »

Consumer Report
Mar 20, 2014 9:01am

More Consumers Cut the Cable Cord

Morning Money Memo… Start streaming. Forget cable. In a major sign of changing consumer tastes, pay-TV operators, including cable television, ended 2013 with their first full-year decline ever. The research firm SNL Kagan reported 251,000 fewer subscribers. Higher prices, poor service and growing competition from… Read More »

Consumer Report
Mar 19, 2014 1:36pm

Va. Man Discovers $1M Lotto Ticket While Cleaning

It pays to keep a tidy wallet. That’s the lesson learned this week by a Virginia man who discovered he was a millionaire only after deciding that his wallet was “getting too fat.” “I was getting rid of some old receipts and I had about… Read More »

Consumer Report
Mar 19, 2014 8:57am

Toyota Settles, GM Apologizes

Morning Money Memo… A huge car safety settlement between the Justice Department and Toyota would be one of the largest payouts ever made by an auto maker. Toyota is said to have agreed to pay at least $1 billion to end a 4-year criminal investigation…. Read More »

Companies
Mar 14, 2014 2:40pm

Underground Vault Offers Bitcoin Protection With Armed Guards, Biometric Scanners

Bitcoin thefts and financial troubles of exchanges that trade the digital currency are opening the doors to a Silicon Valley startup called Xapo, which touts physical underground vaults in secret locations protected by armed guards. This week, Xapo announced it raised $20 million with the… Read More »

By ABC News

Consumer Report
Mar 14, 2014 9:36am

Texas Bakery Controller Cooked Books for $16M

ABC News’ Ryan Owens, Robyn Weil  and Joshua Hoyos report: The former head honcho of accounting at a well-known Texas bakery is accused of taking a huge and illegal piece of the pie. A federal grand jury indicted Sandy Jenkins on charges he embezzled more… Read More »

Consumer Report
Mar 14, 2014 8:46am

GM Rebuts Claim That 303 People Died in Recalled Cars

  Morning Money Memo: An auto-safety group says a review of federal government crash data shows 303 people died after airbags failed to deploy in two of the General Motors car brands that were recalled last month. The complaint from the Center for Auto Safety… Read More »

Consumer Report
Mar 13, 2014 8:17am

GM Knew In 2001 About Faulty Ignition Part

Morning Money Memo… General Motors is changing its timeline on when it first knew about faulty ignition switches on compact cars. GM now says it received reports as early as 2001 – three years earlier than previous disclosed. The safety defect has been linked to… Read More »

Companies Consumer Report
Mar 12, 2014 8:04am

GM Faulty Ignition Switch Probe Expands

Morning Money Memo… General Motors is facing more questions and potential legal problems over the recall of 1.6 million compact cars for faulty ignition switches. The Justice Department has launched an investigation that could lead to criminal charges. “It’s incredible to me that General Motors… Read More »

Companies
Mar 11, 2014 5:25pm

Twitter Stock (TWTR) Dropped $1 During Site Outage

Shares of Twitter (NYSE: TWTR) dropped about a dollar around the time the social media site was “down for maintenance,” but larger factors will be affecting the stock for the long haul, according to analysts. Read More: Twitter Outage Causes Temporary Panic Among Users   … Read More »