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Arizona Business News

National & World Business News

EXCLUSIVE: State university sports generate huge revenues in Arizona
04/19/18 02:00 - Phoenix Business News - L...
ASU vs UA: Which team generates more football revenue?

Save Our Schools Arizona will not support Ducey's teacher pay raise plan
04/19/18 01:10 - Phoenix Business News - L...
An Arizona teacher group said this week it will not support Gov. Doug Ducey's pay raise proposal over concerns about funding sustainability, according to a report on KTAR.com. The group Save our Schools Arizona announced it would not sup...

Industrial warehouse sold for $2.6M in north Phoenix
04/18/18 19:00 - Phoenix Business News - L...
Buyer plans to renovate this property and either sell or lease it

Phoenix mayoral candidate Daniel Valenzuela secures endorsements from over 70 Valley business leaders
04/18/18 16:53 - Phoenix Business News - L...
Phoenix mayoral candidate Daniel Valenzuela has secured the backing of more than 70 Valley business leaders as part of the creation of his campaign’s Business Leaders Committee. Valenzuela has served on the city council since 2012 and, a...

Why this former Arizona Cardinals kicker invested $2.5M in an Arcadia assisted living home
04/18/18 16:25 - Phoenix Business News - L...
Why this former Arizona Cardinals kicker will spend more time in Arizona

Report: Multifamily construction spending exceeds $13B in Phoenix since 2000
04/18/18 15:38 - Phoenix Business News - L...
Since 2000, spending on building apartments, condominiums and other multifamily projects has exceeded $13 billion in Phoenix, according to a new report. That's $13.1 billion to be exact, according to the report from Apartment List. That ...

This behavioral health operator overcomes hurdles to build hospital in Gilbert
04/18/18 14:11 - Phoenix Business News - L...
Kentucky firm buys 6 acres in Gilbert for behavioral health hospital

Phoenix-area Airbnb hosts hit a home run during spring training
04/18/18 14:04 - Phoenix Business News - L...
Between the eight municipalities that host Cactus League spring training games, Airbnb hosts brought in $15.3 million between Feb. 21 and March 27.

Owners of a Phoenix medical equipment firm sentenced to prison for defrauding Small Business Administration
04/18/18 13:12 - Phoenix Business News - L...
The owners of a Phoenix-based company that manufactured and distributed medical equipment, accessories and supplies have pleaded guilty and sentenced to prison for defrauding the Small Business Administration and other financial institut...

EXCLUSIVE: More Phoenix small businesses for sale, but fewer sold during 1Q
04/18/18 02:00 - Phoenix Business News - L...
Fewer Phoenix small businesses were acquired in the first three months of 2018 than the year before, but the businesses sold for higher prices.

Zillow: Homes in Phoenix sold faster than ever in 2017
04/18/18 02:00 - Phoenix Business News - L...
See how fast home sales close in Phoenix

Phoenix-Mesa Gateway Airport sees 5 straight months of passenger growth
04/18/18 02:00 - Phoenix Business News - L...
February marked the fifth consecutive month of commercial passenger growth at metro Phoenix’s secondary — but growing in popularity — airport, according to data released this week by the Phoenix-Mesa Gateway Airport Authority. A total of...

Poll: Arizona voters approve of Ducey's 20% teacher pay raise
04/17/18 17:03 - Phoenix Business News - L...
Arizona voters overwhelmingly support Gov. Doug Ducey's plan to raise teacher pay by 20 percent — and are more likely to support legislators who support the governor's plan, according to a new poll released by Data Orbital today. Dubbed ...

Former ABOR president is now the new state treasurer
04/17/18 15:46 - Phoenix Business News - L...
Eileen Klein, who stepped down as president of the Arizona Board of Regents last month, has been appointed by Gov. Doug Ducey as the Arizona's new state treasurer. In a press release by the governor's office, Ducey said he is honored to ...

Hawaiian ice cream company opens its first mainland manufacturing plant in Phoenix
04/17/18 15:37 - Phoenix Business News - L...
Bubbies Homemade Ice Cream & Desserts produces mochi ice cream – which is growing in popularity – and is adding dozens of jobs in its west Phoenix plant.

Why this Scottsdale nonprofit is building a $1.35M dorm in Mexico
04/17/18 15:24 - Phoenix Business News - L...
Scottsdale-based Rancho Feliz Charitable Foundation Inc. has broken ground on a $1.35 million dorm in Agua Prieta, Mexico.

Southwest flight makes emergency landing after engine issue
04/17/18 14:13 - Phoenix Business News - L...
A Southwest Airlines Co. (NYSE: LUV) flight heading from New York to Dallas made an emergency landing in Philadelphia this morning after one of the aircraft's engines ripped off and a woman was nearly sucked out a broken window, accordin...

Southwest flight makes emergency landing after engine issue; passenger dies
04/17/18 14:13 - Phoenix Business News - L...
A Southwest Airlines Co. (NYSE: LUV) flight heading from New York to Dallas made an emergency landing in Philadelphia this morning after one of the aircraft's engines ripped off and a woman was nearly sucked out a broken window, accordin...

Starbucks to close all stores in Arizona, nationwide May 29 for racial-bias training
04/17/18 14:04 - Phoenix Business News - L...
The coffee giant is closing all company-owned stores for a training geared toward avoiding racial-bias and preventing discrimination.

Former BMO Harris building on Camelback and Central sells for $14M
04/17/18 13:25 - Phoenix Business News - L...
The building was nearly vacant when it sold.

Paradise Valley power couple Jordan and Jason Rose among America’s 100 best party hosts
04/17/18 13:24 - Phoenix Business News - L...
From dog fashion shows to renowned polo events, the Roses know how to throw a party.

2 key steps to achieving marketing gold
04/17/18 13:10 - Phoenix Business News - L...
Marketing our company has been one of the most challenging tasks we have faced in our almost 25 years in existence. With the help of a few partners, we have done a fairly good job of it, especially if you consider our size and how compli...

EXCLUSIVE: Where's my file? This Phoenix-based software startup launches a new search engine to help find files faster
04/17/18 09:00 - Phoenix Business News - L...
Digitile is launching its file search engine software to help employees find files easier initially in OneDrive, Google Drive and Dropbox.

Carvana acquires Mark Cuban-backed augmented reality company Car360
04/17/18 05:00 - Phoenix Business News - L...
Tempe-based online used car retailer Carvana Co. (NYSE: CVNA) has acquired Atlanta-based Car360, a company that uses computer vision and augmented reality to interactive visualization of cars for the internet. As of Tuesday morning, Carv...

Arizona Forward pivots with new leader and focus on statewide projects
04/17/18 02:00 - Phoenix Business News - L...
The statewide environmental organization has four projects to work on this year to bring Arizona together.

PBJ Cribs: See what's inside the closet of My Sister's Closet CEO at her Paradise Valley home (Video)
04/17/18 02:00 - Phoenix Business News - L...
Ann Siner always dreamed of having her own tennis court. It's one of the things that sold her on her $1.8 million, two-story home in Paradise Valley. Of course, the mountain views don't hurt, either. “Every window has beautiful views,” s...

Developer to break ground on $11.2M residential community for adults with special needs
04/17/18 02:00 - Phoenix Business News - L...
This new community in north Phoenix will focus on adults with special needs

Why traditional sports arenas don't cut it for burgeoning esports competitions
04/17/18 00:38 - Phoenix Business News - L...
Esports pioneer Scott Smith said new venues being developed for esports need to avoid traditional basketball, hockey and concert arenas seating and designs. “These venues aren’t built to take over a weekend,” said Smith at Arizona State ...

Motor Mondays: Mitsubishi Outlander hits a couple hot buttons
04/16/18 16:17 - Phoenix Business News - L...
Mitsubishi Outlander Compact crossover with three-row seating Base price: $24,940 MPG: 25/30 to 23/29 Manufactured: Japan National Highway Traffic Safety Administration: 4 of 5 stars for frontal collision, 5 for side, 4 for rollover resi...

Executive Inc.: Christine Barone brings Starbucks approach to True Food Kitchen (Video)
04/16/18 16:09 - Phoenix Business News - L...
The former Starbucks executive is applying some of her experience from the coffee giant at the fast-growing healthy food restaurant chain.

Pet daycare chain Dogtopia opens second Phoenix-area spot
04/16/18 16:02 - Phoenix Business News - L...
Doggie daycare and boarding chain Dogtopia has opened a second location in the Valley. A new franchise location of Phoenix-based Dogtopia opened its doors this month at 3031 E. Indian School Road near the Arcadia neighborhood of Phoenix....

EXCLUSIVE: Cullum Homes to build 33 golf estates at Scottsdale's most exclusive golf community
04/16/18 15:31 - Phoenix Business News - L...
The Scottsdale-based luxury home builder has teamed with architect Drewett Works to design and custom build the 33 golf estates in the Village at Desert Mountain.

Former Chili’s CEO donates $2 million to Arizona Opera
04/16/18 14:00 - Phoenix Business News - L...
The former CEO and chairman of Brinker International Inc. (NYSE:EAT) — parent company of the Chili’s and Maggiano’s Little Italy restaurant chains — has made a sizable donation to the Arizona Opera. The $2 million that Ron and Kay McDoug...

Former Chili’s CEO, wife donates $2 million to Arizona Opera
04/16/18 14:00 - Phoenix Business News - L...
The former CEO and chairman of Brinker International Inc. (NYSE:EAT) — parent company of the Chili’s and Maggiano’s Little Italy restaurant chains — has made a sizable donation to the Arizona Opera. The $2 million that Ron and Kay McDoug...

Phoenix-Mesa Gateway Airport stands behind Allegiant Air after ‘60 Minutes’ report
04/16/18 13:31 - Phoenix Business News - L...
The Phoenix-Mesa Gateway Airport Authority is standing behind its largest carrier despite an investigative report on CBS’ 60 Minutes that blasted Allegiant Air's safety record. The report, which aired Sunday night, alleged Allegiant Air’...

Phoenix looks to land another Final Four; Scottsdale, Tempe back Super Bowl effort
04/16/18 12:41 - Phoenix Business News - L...
Phoenix is looking to land another NCAA Men’s Basketball Final Four. That comes as the region also is a favorite to land a Super Bowl in 2023 or 2024. The Scottsdale and Tempe city councils have now joined their counterparts in Glendale ...

Mesa office complex sales for $3.2 million
04/16/18 11:56 - Phoenix Business News - L...
Greenfield Equities owned the property and with the help of Tempe-based Menlo Group Commercial Real Estate, sold it to Development Services of America, Inc.

HomeSmart International acquires Mesa real estate firm
04/16/18 11:00 - Phoenix Business News - L...
Brokerage firm HomeSmart International is expanding its footprint and acquiring the Coldwell Banker Trails and Paths, a Mesa-based real estate agency. HomeSmart was founded in 2000 by CEO Matt Widdows, and has since grown to be one of th...

Arizona teachers to vote on walkout after Ducey offers 20% raises
04/16/18 09:14 - Phoenix Business News - L...
Arizona teachers are expected to vote on whether to authorize a walkout following a plan by Arizona's governor to hike their pay by 20 percent during the next three years. The problem, some education leaders say, is Gov. Doug Ducey's pla...

Arizona insurance contracts to only count in English for court disputes
04/16/18 08:55 - Phoenix Business News - L...
Arizona insurance contracts will only be legally binding for what is written in the English version under a new law. Gov. Doug Ducey signed into law changes that would require courts to only consider the English version of insurance cont...

P&G quarterly results surpass estimates
04/19/18 06:29
(Reuters) - Procter & Gamble Co reported better-than-expected quarterly results on Thursday, boosted by strong demand for skincare products Olay and SK-II, as well as fabric and home care products such as Febreze.


What Happened On That Southwest Flight
04/19/18 06:13
A catastrophic failure on a Southwest Airlines flight killed one passenger and injured several others this week. It's prompted airlines around the world to inspect certain kinds of airplane engines.


U.S ban on sales to ZTE triggers patriotic rhetoric in China
04/19/18 06:12
HONG KONG (Reuters) - A U.S. ban on sales of American components to ZTE Corp has unleashed a patriotic backlash in China's cyberspace, highlighting the growing tension between the world's two largest economies.


P&G's quarterly sales beat estimates
04/19/18 06:09
(Reuters) - Procter & Gamble Co reported better-than-expected quarterly revenue on Thursday, boosted by strong sales in its beauty, and fabric and homecare businesses.


Qualcomm concessions insufficient to clinch NXP deal: commerce ministry
04/19/18 05:58
BEIJING (Reuters) - U.S. chipmaker Qualcomm will have to do more to complete its proposed takeover of NXP Semiconductors , a commerce ministry spokesman said on Thursday.


U.S ban on sales to ZTE triggers patriotic rhetoric in China
04/19/18 05:56
HONG KONG (Reuters) - A U.S. ban on sales of American components to ZTE Corp has unleashed a patriotic backlash in China's cyberspace, highlighting the growing tension between the world's two largest economies.


'Pharma Bro' arrives at low-security federal prison
04/19/18 05:47
The pharmaceutical-industry entrepreneur vilified for jacking up the price of a life-saving drug has been placed in a low-security federal prison in New Jersey.


Sky reports strong quarter before bid battle steps up
04/19/18 05:40
LONDON (Reuters) - Sky , the pay-TV group at the center of a takeover battle between Fox, Disney and Comcast, reported a strong third quarter on Thursday, underlining its appeal to rival U.S. entertainment groups who want to expand in Eu...


Chinese e-commerce giant Alibaba sets plans for Thailand
04/19/18 05:37
The Chinese e-commerce giant Alibaba has agreed to step up investments in Thailand.


Is Helmerich & Payne Inc. (HP) a Buy?
04/19/18 05:34
A new upgrade cycle suggests that the drilling services company's dividend is safe. But a big stock price gain means it's not appropriate for all investors.


You May Be Paying More in Bank Fees Than You Realize
04/19/18 05:21
Most people know when they're getting hit with ATM charges, but some other fees people pay the keepers of their cash often go unnoticed.


EU court adviser snubs Nestle KitKat trademark appeal
04/19/18 05:15
LUXEMBOURG (Reuters) - A legal adviser to the European Union's top court advised judges on Thursday to reject an appeal by Nestle in defense of its EU trademark for its KitKat chocolate wafer biscuit.


7 Things You Need to Know About Social Security Disability Benefits
04/19/18 05:11
Social Security disability benefits could provide much-needed income for you and your family if you're unable to work.


Morgan Stanley seeks new court in Italian derivatives case
04/19/18 05:10
ROME (Reuters) - Morgan Stanley on Thursday asked to have a lawsuit against it for 2.7 billion euros ($3.34 billion) in damages thrown out of an Italian administrative court, an Italian judge said.


Chinese e-commerce giant Alibaba sets plans for Thailand
04/19/18 05:09
The Chinese e-commerce giant Alibaba has agreed to step up investments in Thailand.


P&G to buy German Merck's consumer health unit for $4.2 billion
04/19/18 05:04
(Reuters) - Procter & Gamble Co (P&G) has agreed to acquire Merck KGaA's consumer health unit for 3.4 billion euros ($4.2 billion), giving it vitamin brands such as Seven Seas and greater exposure to Latin American and Asian markets.


Opel CEO says German costs twice those of other plants: source
04/19/18 05:03
HAMBURG (Reuters) - Some of Opel's German plants cost twice as much to run as new French owner PSA Group's other factories, Opel's chief executive told employees as the company tries to hammer out an effiency deal with labor leaders in r...


FAA Orders Inspections Of Engine Type That Blew Apart On Southwest Flight
04/19/18 05:03
The Federal Aviation Administration says CFM engines, which power many Boeing 737s, need to be ultrasonically inspected after a certain number of takeoffs and landings.


Australian bank charges dead client service fee for a decade
04/19/18 05:02
An Australian government inquiry has heard that financial advisers working for Australia's largest bank continued charging clients service fees after they died — in one case for more than a decade.


Cuba’s new president unlikely to undo Castro economic legacy
04/19/18 05:00
Communist system expected to survive transition of power.


Willingness to fix euro's flaws is fading fast
04/19/18 04:51
When Angela Merkel was re-elected as Germany's leader in March, the way looked open for European nations to finally patch the remaining cracks in the euro — the structural flaws that threatened to break apart the shared currency in 2010-12.


Tesla probed on occupational safety
04/19/18 04:50
Tesla is being investigated over occupational safety concerns,


Chinese e-commerce giant Alibaba sets plans for Thailand
04/19/18 04:45
The Chinese e-commerce giant Alibaba has agreed to step up investments in Thailand.


Australian bank charges dead client service fee for a decade
04/19/18 04:40
An Australian government inquiry has heard that financial advisers working for Australia's largest bank continued charging clients service fees after they died — in one case for more than a decade.


Australia's top bank says it charged dead clients for advice
04/19/18 04:34
Australia's top bank has admitted to charging fees to clients it knew had died years previously.


Head of Publicis stays tight-lipped over peer WPP
04/19/18 04:19
PARIS (Reuters) - The head of French advertising group Publicis refused on Thursday to get drawn into commenting on rival WPP , following the shock departure of WPP's boss Martin Sorrell.


Morgan Stanley to seek new court for Italian derivatives case: sources
04/19/18 04:18
ROME (Reuters) - Morgan Stanley on Thursday will seek to have a suit against it for 2.7 billion euros ($3.34 billion) in damages thrown out of an Italian administrative court, three sources close to the case told Reuters.


Commodities rocket on $100 oil talk, metals stress
04/19/18 04:15
LONDON (Reuters) - Talk that Saudi Arabia has its sights on $80-$100 a barrel oil again ignited a fierce rally in commodities and resource stocks on Thursday, though the potential boost to inflation globally put some pressure on fixed-in...


P&G vitamin deal; Amazon's Prime number; Qualcomm's Chinese hurdle
04/19/18 04:13
1. Vitamin deal: Procter & Gamble announced Thursday it is buying the consumer health business of German pharmaceutical company Merck KGaA for about ?3.4 billion ($4.2 billion).


Willingness to fix euro's flaws is fading fast
04/19/18 04:13
When Angela Merkel was re-elected as Germany's leader in March, the way looked open for European nations to finally patch the remaining cracks in the euro — the structural flaws that threatened to break apart the shared currency in 2010-12.


Women Find New Ways To Raise Venture Capital
04/19/18 04:00
Just 2 percent of all venture capital dollars go to women. Now women are finding a different way to fund their businesses.


Parents Lose Their Daughter And Their Life Savings To Opioids
04/19/18 04:00
Last year, we traveled to Muncie, Ind., to report on the economic impact of the opioid epidemic. We returned recently and discovered that economic losses don't tell the story of all that's being lost.


Parents Lose Their Daughter And Their Life Savings To Opioids
04/19/18 04:00
Last year, we traveled to Muncie, Ind., to report on the economic impact of the opioid epidemic. We returned recently and discovered that economic losses don't tell the story of all that's being lost.


Women Find New Ways To Raise Venture Capital
04/19/18 04:00
Just 2 percent of all venture capital dollars go to women. Now women are finding a different way to fund their businesses.


Oil at fresh highs on Saudi seeking price hike, U.S. stocks draw
04/19/18 03:56
LONDON (Reuters) - Oil prices rose on Thursday to their highest since late 2014 as U.S. crude inventories declined, moving closer to five-year averages, and after sources told Reuters top exporter Saudi Arabia is seeking to push oil pric...


Asian shares, oil prices rise on upbeat global outlook
04/19/18 03:52
Asian shares rose and oil prices touched fresh multi-year highs on Thursday as improving optimism about the global economy helped investors shake off worries about geopolitical risks for the moment.


Sky CEO Darroch: 'I have no interest in running WPP'
04/19/18 03:52
LONDON (Reuters) - Sky Chief Executive Jeremy Darroch said he had no interest in running WPP , the world's biggest ad group which is searching for a new chief executive after the abrupt departure of Martin Sorrell on Saturday.


Intel ditching wearables like smart glasses, report
04/19/18 03:50
Intel is pulling the plug on its version of smart glasses.


Uber picks VMware's Zane Rowe as CFO: Bloomberg
04/19/18 03:48
(Reuters) - Uber Technologies Inc has picked VMware Inc's Zane Rowe as the top candidate for chief financial officer to lead preparations for the ride-hailing company's initial public offering in 2019, Bloomberg reported on Wednesday.


Lost home, fees for the dead - Australia banking inquiry hears testimony
04/19/18 03:29
SYDNEY (Reuters) - An Australian inquiry into the financial services sector heard tearful testimony on Thursday from a nurse who lost her home after taking advice from a major lender, and that the country's biggest bank knowingly charged...


China's ZTE removed chief compliance officer before U.S. sanction: source
04/19/18 03:23
HONG KONG (Reuters) - ZTE Corp's chief compliance and chief legal officer was removed from his posts more than a month before the Chinese telecom equipment maker was slapped with U.S. sanctions this week, a company source with direct kno...


Uber picks VMware's Zane Rowe as CFO: Bloomberg
04/19/18 03:21
(Reuters) - Uber Technologies Inc [UBER.UL] has picked VMware Inc's Zane Rowe as the top candidate for chief financial officer to lead preparations for the ride-hailing company's initial public offering in 2019, Bloomberg reported on Wed...


Exxon faces setback in Iraq as oil and water mix
04/19/18 03:21
LONDON/BASRA, Iraq (Reuters) - Talks between Exxon Mobil and Iraq on a multi-billion-dollar infrastructure contract have reached an impasse, Iraqi officials and two industry sources said, in a potential setback to the oil major's ambitio...


Exxon faces setback in Iraq as oil and water mix
04/19/18 03:14
LONDON/BASRA, Iraq (Reuters) - Talks between Exxon Mobil and Iraq on a multi-billion-dollar infrastructure contract have reached an impasse, Iraqi officials and two industry sources said, in a potential setback to the oil major's ambitio...


Unilever announces share buyback, dividend boost
04/19/18 02:56
Unilever, the consumer goods multinational whose brands include Dove, Knorr and Ben & Jerry's, says it is planning a share buyback worth up to 6 billion euros ($7.4 billion) later this year.


P&G to buy German Merck's consumer health unit for $4.2 billion
04/19/18 02:54
(Reuters) - Procter & Gamble Co will acquire the consumer health business of Merck KGaA for about 3.4 billion euros ($4.2 billion), giving it vitamin brands such as Seven Seas and greater exposure to Latin American and Asian markets.


Stock futures point to small gains
04/19/18 02:39
Stocks point to small gains as earnings season continues.


Stock futures turn lower
04/19/18 02:39
Stocks point to small gains as earnings season continues.


As GM mulls options for unit, how does bankruptcy work in South Korea?
04/19/18 02:35
SEOUL (Reuters) - General Motors has said its loss-making South Korean operation would file for bankruptcy if its union failed to agree to cut labor costs by Friday, heaping pressure on workers and the South Korean government to approve ...


Lost home, fees for the dead - Australia banking inquiry hears testimony
04/19/18 02:30
SYDNEY (Reuters) - An Australian inquiry into the financial services sector heard tearful testimony on Thursday from a nurse who lost her home after taking advice from a major lender, and that the country's biggest bank knowingly charged...



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