Amazon reports first quarter profits beat estimates
Amazon.com posted first quarter profits of 130 million dollars or 28 cents per share, below last year's 201 million or 44 cents. Revenue rose 34 percent to 13.18 billion dollars, beating the 12.91 billion expected by analysts. Shares jumped 18.01 dollars to 214 in extended trading.
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Seattle
Amazon.com
Walmart launches online cash pay option nationw ide
Walmart announces that shoppers can buy items on Walmart.com and pay with cash at all 3800 U S stores. It says it is the first major retailer to offer online purchasing without a bank account or card. About 15 percent of Walmart transactions use credit cards.
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New
United Healthcare Extends Iowa Coverage to 99 Counties
United Healthcare and Trimark Physicians Group of Fort Dodge reach a deal expanding coverage into 13 rural counties in northwest central Iowa. The agreement boosts United Healthcare to claim coverage in all 99 Iowa counties.
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United Healthcare
Trimark Physicians Group
Iowa
Minnetonka
Resin plant closure to last six months in Detroit
Evonik Industries AG said its Detroit resin plant will be out of commission until at least October after a March 31 explosion and fire. The damaged facility threatens to disrupt global auto parts supply and could curb car and truck production amid a U.S. sales rebound.
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Detroit
Evonik Industries AG
U.S
Merger could reap $1.2B in synergies
Fort Worth based US Airways executives say a proposed merger with AMR Corp. could generate about 1.2 billion dollars in cost synergies. American Airlines continues its bankruptcy exit plan as a standalone carrier though.
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Fort Worth
Texas
US Airways
AMR Corp
American Airlines
Wiley Point Kohl’s store rises in Cedar Rapids
Earthmovers gird Wiley Point at 31st Avenue and Wiley Boulevard SW as site prep begins for an 81,000 square foot Kohl’s anchored shopping center. Construction aims for a spring 2013 opening with tilt up precast walls and planned traffic signals to ease access.
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Cedar Rapids
31St Avenue
Wiley Boulevard
Wiley Point
Kohl’s
Gerry Ambrose
Coralville
Ambrose
Collins Rd
Northland Square
Cedar Falls
Hunter Companies of
College grads face weak job market and underemployment
AP analysis shows bachelor’s degree holders struggle in a weak labor market. Demand grows in science and health while arts falter, with many graduates accepting lower skilled work like barista positions. Examples include Michael Bledsoe and Kelman Edwards Jr facing debt and job gaps.
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Pashington
Associated Press
U.S
Michael Bledsoe
Seattle
Bledsoe
Kelman Edwards Jr
Murfreesboro
Tenn
Jobless or underemployed graduates tied to 2011 survey
Northeastern University researchers analyze 2011 Current Population Survey data showing about 1.5 million bachelor's degree holders under 25 were jobless or underemployed, 53.6 percent of the group, the highest in at least 11 years. The study notes half were underemployed, urging further education.
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Northeastern University
Paul Harrington
Drexel University
The
Economic Policy Institute
Washington, D.C
Jobless claims hover near three month high in U S
The Labor Department reported 388000 applications for unemployment aid last week, near a three month high. The four week average rose to 381750, signaling slower job growth. Economists expect about 175000 jobs in April, below winter gains. The unemployment rate fell to 8.2 percent as discouraged workers drop out of the labor force. The April report will further illuminate the jobs picture.
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Washington
U.S
Partment
Federal Reserve
Ben Bernanke
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Walmart
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Sourcemedia.net
George C. Ford
the Gazette
Cedar Rapids Kohl’s
Mark Humphrey
Middle Tennessee State University
Edwards