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Business

E-Commerce

Out-of-patience investors sell off Amazon
Ted S. Warren / Associated Press

Out-of-patience investors sell off Amazon

Amazon has long acted like an ideal customer on its own website: a freewheeling big spender with no worries about balancing a checkbook. Investors confident in founder and CEO Jeff Bezos' invest-and-expand strategy flooded into the stock as the company revolutionized shopping, upended the book industry and took on the cloud — even though its vast range of initiatives ate up all the company's profits.

After all, when Amazon.com filed for its IPO 17 years ago, it was very clear: the company would post losses for the "foreseeable future" while it invested in the business to drive bigger and bigger sales.

Wall Street

US stock market has best week in nearly 2 years

The stock market closed out its best week in nearly two years on a positive note Friday, helped by strong quarterly earnings from Microsoft and other big U.S. companies.

After weeks of speculation over the fate of Europe's economy, Ebola fears and plunging oil prices, investors were able to get back to basics. Wall Street is in the midst of one of the busiest times of the year, when companies report their quarterly results.

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Home Sales

U.S. new-home sales close to flat in September
Keith Srakocic / Associated Press

U.S. sales of new homes close to flat in September

U.S. sales of new homes were nearly flat in September, after the government sharply revised downward what was initially an August surge in buying.

New-home sales edged up 0.2 percent last month to a seasonally adjusted annual rate of 467,000, the Commerce Department reported Friday. The report also revised down the August sales rate to 466,000 from 504,000.

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Media

Officials: Radio program triggered alert snafu for U-verse, others

Federal officials are investigating a glitch that froze TV service and activated a national alert system for AT&T U-verse customers in Texas and several other states Friday.

Federal Emergency Management Agency officials said Friday that the glitch seemed to have happened after a radio program played the national emergency alert notification tones, which triggered a false emergency alert that froze stations for customers in Austin, as well as those in Georgia, Tennessee and Michigan.

Consumer Credit

Credit card interest rate offers can cost you

Does this sound familiar? You just couldn’t pass up the sale you stumbled on. You were sure your spouse wouldn’t mind because your credit card was offering a zero percent promotional interest rate on purchases.

So you’d still have a balance when that promotion ends. There’s nothing to worry about, you might think, because another credit card is offering six months of no interest if you transfer the balance there.

Business Briefs

Business Digest: Procter & Gamble spinning off Duracell

CONSUMER PRODUCTS

Procter & Gamble spinning off Duracell

NEW YORK — Procter & Gamble plans to remove its batteries and make Duracell a stand-alone company.

The world’s largest consumer products maker, which acquired Duracell in 2005, has been trimming its product lineup to focus on its top performers. After it finishes jettisoning more than half its brands around the globe over the next year or two, P&G said it will be left with about 70 to 80 brands.


Automakers

Ford profit falls in third quarter on truck costs

Ford profit falls in third quarter on truck costs

Ford's new aluminum-sided F-150 will be a lot lighter and more efficient when it goes on sale later this year. But for now it's a serious drag on profits.

Net income dropped 34 percent to $835 million in the third quarter, largely due to the cost of launching the pickup. The new F-150, which is 700 pounds lighter due to its aluminum construction, is scheduled to go on sale by the end of this year.

Automobiles

What you need to know about massive air bag recall

U.S. investigators, automakers and a parts supply company are trying to figure out why some automobile air bags inflate with too much force, blowing apart metal canisters and sending shards flying at drivers and passengers.

So far, more than 12 million vehicles worldwide with air bags made by Japanese parts supplier Takata Corp. have been recalled for the problem.

Workplace

calling in sick

2014's 'Most Ridiculous Excuses For Skipping Work' list

We've all done it: called the boss prepared with a fake cough and sniffle, and came up with some excuse so we can enjoy a relaxing day off. But some excuses are just so far-fetched it's a surprise these workers had a job to go back to.For the 10th year in a row, CareerBuilder has released its “The Most Unbelievable Excuses for Calling in Sick.” Last year an employee said he couldn’t come in because his false teeth flew out the window while he was driving down the highway (a personal favorite).


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