May Retail Sales Jump on Tax Rebates Boost
Commerce Department data show retail sales up 1 percent in May, led by department stores and general merchandise as stimulus payments lift consumer spend. The gains, larger than economists expected, suggest rebates are offsetting housing, credit, and energy pressures for now. Analysts cite Moody's Mark Zandi praising rebates as a counter to rising energy costs and unemployment concerns.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
Labor Department
Wall Street
Dow Jones
Mark Zandi
Moody's Economy.com
KeyCorp to halve dividend and raise $1.5 billion
KeyCorp will cut its annual dividend 50 percent to 75 cents a share starting in the third quarter and raise about $1.5 billion in equity to offset a roughly $1.1 to $1.2 billion after tax charge from a federal tax ruling on leveraged lease portfolio. Shares fell about 9 percent to $14.30.
MENTIONED IN THIS ARTICLE
Cleveland
KeyCorp
Financial Services Company
Henry Meyer
Meyer
InBev bids $65 a share for Anheuser-Busch amid politics
Anheuser-Busch faces political opposition as InBev SA offers $65 per share to acquire the St. Louis brewer, aiming to create a global beer giant. Missouri Governor Blunt opposes the deal and cites potential U.S. job losses while activists launch SaveAB.com to protest foreign ownership.
MENTIONED IN THIS ARTICLE
ST. Louis
InBev
Anheuser- Busch Cos. Inc
U.S
InBev SA
Beck's
Stella Artois
Anheuser-Busch
Michelob
Budit
Blunt
Saveab.com
Ed Martin
Martin
Mark
Toxic chemicals found in vinyl shower curtains from major retailers
A national environmental group reports PVC shower curtains sold by Bed Bath & Beyond, Kmart, Sears, Target and Wal-Mart release phthalates and organotins with links to liver, nervous system, respiratory, and reproductive harm. VOCs observed include toluene and xylene. vinyl chloride is cited as a carcinogen.
MENTIONED IN THIS ARTICLE
U.S
Bed Bath & Beyond
Kmart
Sears
Target
Wal-Mart
Virginia
Center For Health, Environment & Justice
Commis
Michael Schade
Environmental Protection Agency
Stephen Lester
Lester
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