On Twitter, News Corps. Chief Rupert Murdoch confessed: "We screwed up in every way possible." He added the company learned a lot of valuable and expensive lessons from the purchase of the social networking site.
More than 3,100 companies flocked to the Consumer Electronics Show this year to hawk their wares. The show's host, the consumer Electronic Association, estimates roughly 20,000 products were launched at the show this year. And chances are good that many – maybe even most — will fail.
The show will close its doors Friday and there are lots of little companies and entrepreneurs packing up that may not make it back next year. Still, their hustle is infectious. And with luck, a few startups launched here this year could go on to become huge.
For almost 70 years, New York City has been home to two opera companies: the well-heeled Metropolitan Opera and its scrappy younger sibling, the New York City Opera. But City Opera has fallen on hard times, and a bitter labor dispute might mean curtains for this beloved institution.
Was Mitt Romney a job-creating turnaround artist? Or was he, as some on the campaign trail have said, a "vulture capitalist"? That question has become a top issue in the Republican presidential primaries.
In the 1980s, Romney ran a private equity firm called Bain Capital. It's an industry where it's hard to avoid getting your hands dirty.
Traders work on the floor of the New York Stock Exchange in December. In the past year, banks in New York and around the country have announced tens of thousands of job cuts, as there isn't the same need for some financial services as before.
It's hard to tell if the Occupy Wall Street protests had much impact on banks, but banks are doing some de-Occupying within their own ranks. It wasn't as bad as the massive layoffs following the 2008 meltdown, but last year was painful for Wall Street. Bank of America, Citigroup, Goldman, Morgan Stanley — almost all the big banks — announced big layoffs, totaling more than 60,000 employees.