E-Trade won't put itself up for sale after allE-Trade Financial Corp.'s board rejected putting the online brokerage up for sale after a strategic review spurred by Citadel, the company's biggest shareholder. E-Trade, based in New York, hired Morgan Stanley in July to explore a sale and then replaced the bank with Goldman Sachs Group Inc. The broker initiated the review following Citadel's request to address "catastrophic losses." Citadel helped E-Trade avert bankruptcy in 2007 with a $2.55 billion cash injection.
Starbucks buys juice maker, plans new chainCoffee king Starbucks Corp. is gunning for the health food industry. The Seattle company announced the $30 million, all-cash acquisition of San Bernardino, Calif.-based Evolution Fresh Inc., a natural fruit and vegetable juice maker created by Jimmy Rosenberg, who also founded the Naked Juice brand. With Starbucks coffee shops as ubiquitous as hamburger joints, the company is looking to target a new market by opening a chain of stores next year centered on "wholesome" beverages and food.
Initial jobless claims are lowest since AprilThe number of people who filed for unemployment benefits dropped again last week, to 390,000, the lowest level since April, continuing a trend that bodes well for job growth. The number of initial jobless claims was down 10,000 from the previous week's revised figure of 400,000, the Labor Department reported. The initial figure for two weeks ago was 397,000, but was revised upward. Still, over the last month, the average weekly number of jobless claims is right at 400,000 -- a key figure that indicates a decrease in the unemployment rate.
Trade deficit up as exports reach record highThe U.S. trade deficit fell in September to the lowest point this year as foreign sales of American-made autos, airplanes and heavy machinery pushed exports to an all-time high. The deficit narrowed 4 percent to $43.1 billion, the third straight decline and the smallest imbalance since last December, the Commerce Department reported. Exports increased 1.4 percent to a record $180.4 billion, reflecting a big increase in shipments of U.S. made autos and auto parts. Imports were up a smaller 0.4 percent to $223.5 billion.
Airbus declares defeat for four-engine A340Airbus SAS has ended production of its four-engine A340 aircraft after the jet with the company's longest fuselage lost out to Boeing Co.'s twin-engine 777 model. Airbus, the world's largest maker of commercial aircraft, announced the end of the program as parent European Aeronautic, Defence & Space Co. reported earnings. Terminating the program will lead to an operating gain of $261 million, EADS said, without explaining why it's concluding production of the jet.
Report on iPad orders hurts Apple sharesShares of Apple Inc., the world's largest technology company by market value, fell 2.6 percent amid concern about a drop in supplier orders, indicating potentially weaker sales of the iPad and iPhone. Analysts at Cleveland Research Co. reduced their predictions for shipments of the iPad to 12 million from 14 million this quarter, citing information it gleaned from Apple's suppliers. Apple shares declined to $385.22.
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