Americans over the age of 65 have a collective $15 trillion in the bank. Economics editor Chris Farrell says the retiree motto for financial advice should be "caveat emptor."
They don't make computers or washing machines like they used to. But if they did, what would happen to the warranty industry? Lisa Napoli talks to Todd Marks of Consumer Reports about whether cheap warranties are a good deal.
Want to travel, but need to save money? Stephen Hoffman flew to Buenos Aires with his wife, ate, shopped and explored the local terrain on a shoestring. And then told us how to also do that elsewhere.
Is the absence of a perfectly-lit photo keeping you from renewing your passport? It is for Michelle Philippe — especially since the ideal shots would eat into what she's saving up for her wedding.
When it comes to real estate these days, is it the buyers or sellers in the driver's seat? Lisa Napoli posts questions on the current state of the housing market to George Mannes of Money Magazine.
If you have unclaimed stock or property waiting for you somewhere, watch out — some states can seize or sell it off without you even knowing it. Steve Henn brings us this story of an investor who found out the hard way.
Last month when the Blackstone Group went public there were protests over how it engineered a deal allowing it to pay less than half the tax rate paid by most other public companies. Well, it's now reportedly done itself one better. Steve Henn explains.
The Commerce Department said June retail sales posted their steepest drop in nearly two years compared to May. Yet, at the same time, consumers said they're more optimistic about the economy and their pocketbooks. Jill Barshay sorts it out.
The new brand A Bathing Ape is the latest fashion craze for urban teens. Youth Radio's Ayesha Walker loves to shop, but she's not so hot on the high price for a hooded sweatshirt, and the fact that kids wearing them are targeted for theft.
On Sunday a huge hike in music royalties for webcasters goes into effect that could threaten many Internet radio sites. Bob Moon talks to Tim Westergren and John Simson, who hold opposing views on the issue.
Paris is launching one of the the biggest city bike networks the world has ever seen. For a small fee, Parisians will be able to borrow a bicycle at one of 750 stations around the city. John Laurenson went for a ride.
Hotel chains are doing a lot more to attract your business these days. With competition heating up, they're investing in things like flatscreen TVs and MP3 players to entice you to stay. Alex Goldmark checks in.
The big movie and TV studios wants to come up with a new formula for how residuals are paid to writers, actors and directors get when their work is rebroadcast, but they could have a big fight on their hands. Ashley Milne-Tyte reports.
Al Gore is following up on his global rock concert with a new contest to create ads raising awareness of climate change. And the YouTube generation is welcome to join in on the fun. Dan Grech reports.
A government report card on child well-being out today will show that we haven't made any progress lowering the child poverty rate in the U.S. Jeremy Hobson has details.
The U.S. Postal Service has been handing more and more delivery routes to private contractors and letter carriers don't like it. Yesterday they agreed on wages and benefits, but the use of outside contractors still needs to be addressed. Jill Barshay reports.
Filmgoers can expect to see more of this throwback to the 1950s coming out of Hollywood. The glasses are still goofy but the technology is all grown up, and studio execs expect audiences will keep paying more for the improved experience. Jill Barshay reports.
You know you've always wanted your own private island escape. Turns out there are plenty of these jewels for sale… and you only have to be moderately wealthy to afford them. Chana Joffe-Walt checks out some property off the Seattle coast.
A ruling this week in the U.K. removes the centuries-old tradition of judges and lawyers wearing wing collars and horse-hair wigs in non-criminal cases. It'll save the government a bundle, but it's a harsh sentence for blokes in the legalwear business.
Following Wall Street's record-setting day yesterday, markets around the world went up, up, up today. But some folks are still worried about the weak dollar and inflation… and one of them might be Ben Bernanke, says money manager David Buik.
A powerful public relations campaign is saving clothing company Steve & Barry's millions in advertising, thanks to the star appeal of Sarah Jessica Parker. Jill Barshay explores what makes such outreach so successful.
The Federal Trade Commission has been trying to block organic grocery chain Whole Foods from buying rival Wild Oats, and it may have the ammunition it needs from CEO John Mackey's fondness for online chatter. Sam Eaton reports.
Russian energy giant Gazprom announced a deal with French company Total to help develop Shtokman, a huge gasfield in the Russian Arctic. Stephen Beard reports.
Afghanistan's opium poppy crop is said to generate over $3 billion, more than half its GDP. And evidence is mounting that the money is funding the Taliban and government corruption. The New Yorker's Jon Lee Anderson went there and tells what he discovered.
Instead of fading into retirement once they've reached their golden years, today's CEOs are redefining what they do. Commentator Harriet Rubin says creative rebirth is a good way to build a legacy.
News that Whole Foods chief John Mackey has been criticizing rival Wild Oats in an online forum for investors has stirred up controversy, but that's not what might sink the organic grocery chain's bid to buy its competitor, reports Stephen Beard.
In this huge wave of corporate profits, what you really want to see is a company spending its extra cash paying out dividends to shareholders, not buying back stock. Chris Farrell explains.
With worldwide investments expected to double to almost $300 trillion by 2015, institutional investors must now think Turkey and China. Ashley Milne-Tyte looks at the growing importance of emerging markets.
It's not just China… in fact, more tainted imports from Mexico and India were stopped by FDA agents last year. But only about 1 percent of all shipments are checked, and the FDA just can't keep up. Dan Grech reports.
A reality show debuting soon on BET is testing the limits of its advertisers. Before it's even aired "Hot Ghetto Mess" has some consumers threatening boycotts, and some advertisers pulling their spots. Elizabeth Wynne Johnson has the story.
Groups pushing for universal health coverage got a sort of economic backing today: A new study demonstrates that there are financial gains to be made by insuring everyone before the age of 65. Jill Barshay has details.
It's official: mining giant Rio Tinto has agreed to buy Canadian aluminum group Alcan. And the deal worth than more $38 billion easily tops the unwelcome offer from U.S. rival company Alcoa. Stephen Beard reports.
Website domain names start with price tags under $10, but some people are flipping them for big profits in a market that's starting to see 8-figure transactions. Jeremy Hobson looks at what's driving up the price of virtual real estate.
China is worried about its reputation, and rightly so, as importers throw up trade barriers. Responding to worldwide concern over the safety of its products, the government banned the use of a dangerous chemical in toothpaste. Scott Tong has more.
The White House is pushing Congress to reauthorize the president's signature education plan before it automatically expires in September. Commentator Robert Reich has some changes he'd like to see included.
Cadbury Schweppes is set to be sentenced by a British court for hygiene offenses, after it knowingly sold chocolate contaminated with salmonella. Stephen Beard takes a look at the case's impact on Cadbury's squeaky clean image.
Economists at the National Association of Realtors are predicting home prices and new-home sales will rebound next year. But that's after the nation's first home-price decline in 40 years plays itself out. Steve Tripoli reports.
Market speculators are sending warning signals that private equity firms may not be able to pay back all the money they've borrowed for some of their huge deals lately. Marketplace's Bob Moon explains.
After almost a decade of saggy performance, Levi Strauss is looking a lot more fit these days. And that's sparking speculation that the jeans maker could be in a position to go public again. Elizabeth Wynne Johnson goes behind the seams.
The U.S. dollar is at a record low compared to the euro, and the lowest it's been in 25 years against the British pound. Why? Ashley Milne Tyte reports.
Methane gas, um, escaping from cattle is a serious problem in the fight against global warming. British scientists are trying to get to the bottom of the problem by changing cows' diets. Stephen Beard reports.
Airport terminals may not be especially magical places, but watch out for witchcraft in all the airport shops, warns commentator Moira Manion. She's found clever forces at work to separate us from our money.
Google may rule the search universe, but MapQuest still has a corner on the Internet mapping and direction market — for now. Google this morning launched a new application that it hopes will catapult its ranking. Dan Grech reports.
Canadian aluminum maker Alcan has been in a bind for the last two months, fighting off a hostile takeover from U.S. rival Alcoa. Today there's word that Alcan may have found a willing partner in London-based Rio Tinto. Michael Hlinka gives us the back story.
Thousands of young people who took Paxil are entitled to a share of a $42 million class action settlement, so one consumer watchdog group posted a video on YouTube to spread the word: If they want the cash, they gotta make the claim. Helen Palmer has the story.
The possibility that New York mayor and billionaire Michael Bloomberg might run for president has captivated Washington. And it's got commentator David Frum wondering why no one complains when a plutocrat seeks to buy political office.
Last week Microsoft said it wasn't going to lower the price of the Xbox 360, but the company appears to be changing its tune following Sony's announced markdown of its Playstation 3. They're both trying to lure gamers away from Nintendo's top-selling Wii.
Shareholders have approved the merger of the Chicago Mercentile Exchange and the Chicago Board of Trade. That deal will make the Second City home to the largest financial exchange in the world. Jill Barshay reports.
The subprime mortgage fallout just keeps on coming as the U.S. dollar hits another all-time low against the euro. And that could spook international investors as well as would-be American tourists. Stephen Beard explains.
You go to the ATM to get, say $60, but you've only got $59 in the bank. Should your bank warn you before it hands over the cash and slaps you with a $35 overdraft fee? Congress today considers legislation that would require it. Jeremy Hobson reports.
Home Depot, Sears and homebuilder D.R. Horton let Wall Street know they're expecting disappointing earnings because of the housing market's dramatic slowdown. Ashley Milne-Tyte reports.
Taser and iRobot have announced an alliance to build a robot that comes equipped with a Taser. The companies plan to sell the robot for use in prisons or combat. Kai Ryssdal talked with John Pike of GlobalSecurity.org about the new product.
Most pro baseball players are minor leaguers you've probably never heard of and who don't get paid much. Many have to look for ways to stretch their paychecks — with a little help from friends. Nancy Farghalli reports.
Sprint is cutting off about 1,000 of its cell-phone subscribers because, the company says, they've been calling customer service too much. Aren't customer calls what customer service is for? Steve Tripoli asked around.
A new proposal circulating at the Federal Communications Commission could give cell-phone users a lot more choices when it comes to how they use their devices. Sam Eaton explains.
Educated young women in East Germany are moving away in search of opportunity in the West and other parts of the world. Kyle James reports on the impact their migration is having back home.
Developers and realtors in pockets of Southern California are channeling a new stream of South Korean investment money to stave off the slump that's hit much of the U.S. housing market. Lenora Chu has the story.
Last month car sales at the Big Three American automakers tumbled 13 percent. General Motors, Ford and Chrysler are on track to hit a major milestone soon, but they won't be throwing a party. Jill Barshay explains.
Drug safety's high on the agenda in Washington this week, as the House debates a bill to extend fees the pharmaceutical industry pays the FDA to speed approvals, but some folks say there's greater danger in the "F" than the "D." Helen Palmer has details.
A holiday blizzard has blanketed Buenos Aires for the first time in decades, but there's little to celebrate. Argentina's coldest winter in 40 years has spurred a massive energy crisis. Dan Grech reports.
New York Mayor Michael Bloomberg is in Washington today lobbying for federal transportation funds, but it's a no-go if he can't get his state legislature behind a plan to cut traffic by charging drivers $8 to enter Manhattan. Jeremy Hobson reports.
China today executed Zheng Xiaoyu, former head of its food and drug agency, for taking payoffs from drug companies to OK untested medicines, one of which led to the deaths of 10 people. Scott Tong tells us what else China's doing to improve safety.
As we wrap our series on the basics of starting a small business, Patti Greene offers this parting advice: You don't have to do it all alone. Talk to your fellow entrepreneurs and seek out networks of people who can help.
Tom Stemberg, founder of office-supply giant Staples, unveiled today a new venture capital fund. It will focus on retail start-ups that are just about the opposite of the type of store he pioneered. Steve Tripoli reports.
Online gamers known as "gold farmers" harvest virtual items like magic swords and potions and sell them to other players for real money. South Korea has adopted laws restricting the practice. Rico Gagliano reports.
A Google employee learned an important lesson after she posted comments on a company blog that were critical of Michael Moore's new film "Sicko." Bob Moon talked about blog do's and don'ts with Debbie Weil, author of "The Corporate Blogging Book."
The SEC is expected to sign off soon on a merger of the NASD and the NYSE. Critics fear combining the two self-regulatory groups will make it even harder for investors to get action on their complaints. Amy Scott reports.
A $650 billion defense authorization bill tops the Senate's agenda — the largest such authorization since World War II. And Democrats will try to use it to hasten the withdrawal of troops from Iraq. John Dimsdale reports.
Tougher U.S. bankruptcy rules now make it more difficult for entrepreneurs to shield personal assets when their businesses fail. As a result, says commentator Aparna Mathur, business start-ups are declining.
Faced with a budget impasse, Pennsylvania Gov. Ed Rendell sent home state employees, except for "essential" public servants such as police, firefighters, and lottery and gaming workers. Alisa Roth reports.
Citizens of Zimbabwe have been faced with staggering 4,000% inflation, but President Robert Mugabe's latest move to address the situation is about to leave the African nation without food or gas to buy at any price. Gretchen Wilson fills us in.
There's been such a demand for clean, renewable energy in recent years that parts makers around the world are running short on the stuff windmills are made of, reports today's Wall Street Journal. Stephen Beard has details.
Major League Baseball's rosters are increasingly being filled by foreign-born players, and that trend has translated into a new job opportunity for people fluent in certain languages, including baseball, Nancy Farghalli reports.
At issue in the civil case against Drummond is whether an American company can be held accountable for human rights violations committed elsewhere. The case is a first and its outcome could have far-reaching implications. Dan Grech reports.
New rules go into effect on U.S. markets today. They're designed to make sure that everyone gets the best stock price available, no matter how big or small the transaction. Good for small-time investors, but maybe not for everyone. Janet Babin explains.
There's a $650 billion defense authorization bill on the Senate's table, and with $130 billion earmarked to fund the wars in Iraq and Afghanistan, our troops' presence there is fair game for debate again. Jeremy Hobson reports.
A quick science lesson this morning: The volume of gas expands in heat. Retail gas prices are based on a temperature of 60 degrees. That means when it's hotter you're paying the same price for less gas. Sam Eaton has more details.
The sleek, new Boeing 787 Dreamliner made its first public appearance yesterday in Everett, Washington, but the event had an international flair befitting a plane built in several countries and bound for several foreign carriers. Jason Paur reports.
Most moms and dads these days are over-tired, over-stressed and over-worried that they're not doing the right thing when it comes to raising their kids, says author Susan Gregory Thomas. And, she says, that makes them easy targets for marketers.
