Originally published on Fri July 12, 2013 12:42 pm
If you think flight delays in the U.S. are bad, try China.
A new report from travel industry monitor FlightStats says China is the world's worst when it comes to delays at major airports.
FlightStats compiled statistics from June for the report, determining that eight of the world's worst airports for flight delays were in China. Beijing and Shanghai topped the list, although New York's LaGuardia had the highest number of flight cancellations.
Birmingham-based Royal Cup is investing $30 million to expand its operations and add 40 jobs.
The coffee and tea company announced it has acquired 16 acres and a building adjacent to its current operations in Birmingham. The building was formerly the home of RockTenn. Royal Cup vice president William Smith III told al.com (http://bit.ly/11IBS9b ) that the company will renovate the property and add more production lines.
Originally published on Fri July 12, 2013 11:55 am
The morning's major economic news:
-- Inflation. Wholesale prices rose 0.8 percent in June from May, fueled by a 2.9 percent surge in the price of energy products, the Bureau of Labor Statistics says. As drivers can confirm, a 7.2 percent jump in the cost of gasoline was responsible for most of that boost.
A federal judge this week ruled that Apple conspired to raise prices of e-books, handing a victory to the Justice Department. Another winner in the fallout from this case was Amazon, the dominant seller of e-books.
CEO Steve Ballmer has shuffled the organizational deck at Microsoft, breaking down long-standing barriers within the company. Microsoft has been criticized for internal turf battles and slow-footed responses to changes in technology.
The words eurozone and crisis have been firmly linked together for the past half decade. Many eurozone economies have collapsed to Depression-era levels. And yet this week, the Baltic nation of Latvia, chose to join the euro. To understand that move, David Greene talks to Pauls Raudseps, economics editor of the Latvian weekly news magazine IR.
Soon, most Americans will have to buy health insurance or pay a fine. This sounds like a marketer's dream: Captive shoppers directed by the government to buy your product. But when the product you're selling is health insurance, there are some pitfalls. Your customers may not love you. In fact, they may despise you.
"I think it may be too little too late for health insurance companies to now come out, like, 'Hey,we were just kidding the last 50 years!,'" says James Percelay, co-founder of the viral marketing firm ThinkModo in New York.
It's been five and a half years since the recession started, and four years since the recovery began. It's been a brutal time for the U.S. job market (obviously), and the picture is still pretty bleak.
But when you look at individual industries, you see a more nuanced picture. Many industries have lost jobs, but others are employing more people than ever.
To see how the jobs picture has changed since the start of the recession, we created the graph below. Here's how it works:
The size of the circle represents the number of jobs in each industry today.
The latest in The Guardian's seriesof reports on secret U.S. electronic surveillance efforts claims to detail the extent of Microsoft's cooperation with the National Security Agency, with the tech giant reportedly allowing agents to circumvent its own encryption system to spy on email and chats, as well as its cloud-based storage service.
Stocks surged Thursday after the chief of the Federal Reserve sent signals that the central bank wasn't in a hurry to stop helping the economy. When the markets closed, the Standard & Poor's 500 Index was at a record high. Other U.S. indexes were also up, including the Dow Jones Industrial Average, which rose nearly 170 points to a record 15,460.92.
Update at 5 p.m. ET: We've updated some figures in this post to reflect the markets' closing.