Cyber Monday sales top $3 billion in online spending
comScore reports Cyber Monday total online sales exceed 3.11 billion led by 53 percent growth in mobile purchases to 838 million. Amazon and other retailers faced brief site issues while shoppers turned to phones and tablets for deals.
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Yellen Signals Rate Hike Likely in December Fed Meeting
Federal Reserve Chair Janet Yellen said the U S economy has recovered substantially since the Great Recession and signaled a likely rate increase at the end of the Fed's two day meeting December 15 16 She noted progress toward maximum employment and inflation control while cautioning that more data including Friday s November jobs report are awaited Analysts expect around 200 000 job gains and a 5 percent unemployment rate keeping near full employment
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Cabela's exploring sale amid Elliott pressure in Omaha
Cabela's, the Omaha based outdoor retailer known for its wildlife displays, may seek a buyer. Elliott Management owns 6 percent of shares and holds options for 5 percent, pushing for money making moves as the firm cuts costs after weak sales and a September layoff of 70 corporate staff.
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Yahoo shareholders push plan to sell Internet business
Starboard Value urges Yahoo to divest its Internet services to avoid a potential 10+ billion tax bill on Alibaba stake. Board weighing selling websites apps ad services and data analytics while pursuing Alibaba spin off. tax law uncertainties remain. Mayer-led overhaul targets unprofitable services and large staff reductions.
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