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Florida may send BP a claim for more than $1 billion to cover a budget gap created by the largest U.S. oil spill, which slashed tax receipts from tourism. The state is considering seeking an initial payment in the "lower range" of billions of dollars to make
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Royal Bank of Canada is exploring a sale of its U.S. insurance business, Liberty Life Insurance Co., acquired for $650 million a decade ago, according to sources. The move is part of CEO Gordon Nixon's plans to reorganize the lender's U.S. operations, which have
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DuPont has scored a significant partial victory in a patent dispute with Monsanto, as a federal judge in St. Louis, Mo., has reversed part of a previous ruling that DuPont's biotech soybeans violate a license for seed traits that tolerate the glyphosate herbicide Roundup. The judge's
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The National Association of Convenience Stores has released information indicating that Verizon Wireless, T-Mobile USA, and ATandT Inc. are planning to replace credit and debit cards with smartphone contactless payment technology. This largest effort to date is set to be tested in Atlanta and three other cities in the United
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The media sector is poised for significant growth in advertising revenue, according to analysts at Morgan Stanley. On August 3, 2010, Benjamin Swinburne, a top-ranked analyst at Morgan Stanley, discussed the industry's prospects on Bloomberg TV's "In Business" program with host Margaret Brennan. Swinburne
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Wal-Mart's bid to open a third store in Chicago is facing a challenge as the city council member who approved the second store is now questioning the retailer's pledge to pay workers at least $8.75 an hour, a critical factor in the city's
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Lance Armstrong's storied career, marked by seven consecutive Tour de France wins from 1999 to 2005, has been marred by allegations of doping and a federal investigation into his involvement with the US Postal Service team. Armstrong, a cancer survivor who defied doctors' expectations to win the
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Wells Fargo Bank's Chief Financial Officer, Howard Atkins, recently discussed the bank's credit quality, mortgage servicing, and revenue on Bloomberg TV, shedding light on the company's strategies and performance in the current economic environment. Atkins emphasized that the improvement in credit quality is primarily
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Airbus CEO Tom Enders talks to Rishaad Salamat on Bloomberg TV about the company's efforts to sell airplanes, specifically the A380. Enders expresses confidence in the A380's market potential, citing sales of 131 orders in 2010 and a commitment to deliver 200 aircraft. He also discusses
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As the financial sector continues to navigate a complex environment, Bank of America and Citigroup are set to report earnings, with investors eager to gauge the performance of these two major banks. Jeffrey Harte, analyst at Sandler O'Neill & Partners LP, joined Bloomberg TV to share his insights
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US retail sales declined by 0.5% in June, exceeding economists' projections and marking the second consecutive month of sales drops. This decrease is attributed to a lack of job growth and a decline in personal wealth, which accounts for 70% of the economy. As a result, shares of
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Microsoft Corp.'s Xbox Live online video-game service probably broke the $1 billion (U.S.) revenue mark for the first time in the year that just ended, according to an email from Dennis Durkin, Xbox's chief operating officer. The service's success was fueled by sales
