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Money News

BankEast reopens as U.S. Bank, will keep employees

6:24 PM, Jan 30, 2012

BankEast branch employees, including tellers and bankers will keep their jobs indefinitely, according to a U.S. Bank official.

Using debit cards can be riskier than credit

9:54 PM, Jan 26, 2012

Debit cards may look identical to credit cards, but there's one key difference.

US new-home sales fell in Dec., finish dismal 2011

10:24 AM, Jan 26, 2012

Fewer people bought new homes in December, making 2011 the worst sales year on record.

Herrie Son and Kyle Komline, recent college graduates, hope to buy an East Nashville home. Son’s parents are helping her with the search and with the down payment. / Samuel M. Simpkins / The Tennessean

Parents sacrifice savings to help kids get started

7:41 AM, Jan 26, 2012

As young adults struggle to find work, financial advisers have noted a growing number of families like the Sons sacrificing their savings to abet their kids' independent lives, even as retirement incomes shrink, home values sputter and high household debt persists.

Fed: Rates unchanged, no rate hikes likely till late '14

5:10 PM, Jan 25, 2012

The Federal Reserve said Wednesday that it expects to leave interest rates near zero for another two years, extending historically low borrowing costs until late 2014 as the economy continues to recover slowly from the financial crisis.

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Toyota global sales forecast rises on green demand

9:06 AM, Jan 25, 2012

Toyota is raising its global sales target for this year to 8.58 million vehicles as incentives for ecological cars lift demand in Japan. That forecast is up 21 percent from its sales in 2011.

Robert Doochin, owner of American Paper & Twine Co., is concerned that the state’s estate tax will affect his ability to transfer his business to his children. / George Walker IV / The Tennessean

TN businesses press for end of estate tax

9:23 AM, Jan 24, 2012

Many successful business owners have been pressing state leaders to lower Tennessee's main tax on wealth, the estate tax.

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file/AP

Wal-Mart says Sam's Club CEO leaving the company

10:58 AM, Jan 20, 2012

Wal-Mart Stores Inc. says Sam's Club President and CEO Brian Cornell is leaving the company so he can return to the Northeast for family reasons.
 

AP

Kodak files for Ch. 11 bankruptcy protection

8:46 AM, Jan 19, 2012

Photography icon Eastman Kodak has filed for Chapter 11 bankruptcy protection, as it seeks to boost its cash position and stay in business.

TVA settlement funds to help Tennessee's energy efficiency

9:18 AM, Jan 16, 2012

More than $26 million in TVA settlement funds will help the state buy electric cars and rework several buildings to reduce energy costs and air pollution.

Food Lion closing 25 TN stores, 17 in E. TN

12:29 PM, Jan 12, 2012

More than 100 Food Lion Stores will soon be closing, including 17 in East Tennessee.

Haslam proposes reductions on grocery, estate taxes

10:30 AM, Jan 11, 2012

Gov. Bill Haslam unveiled a legislative agenda that would cut estate and grocery taxes while also revamping work rules for civil servants and teachers, as lawmakers gathered at the state Capitol at noon Tuesday to begin the second year of the 107th legislature.

Frontier Airlines adds Knoxville-Orlando service

1:50 PM, Jan 9, 2012

Frontier Airlines announced Monday that it will start offering three weekly non-stop flights between Knoxville and Orlando beginning March 15.

White House launches youth jobs program

8:32 AM, Jan 5, 2012

The program, which is being dubbed Summer Jobs +, is a private-federal government partnership and has already drawn commitments from several companies and federal agencies to hire 180,000 youth next summer.

Sears to close 100 to 120 Kmart, Sears stores

11:51 AM, Dec 27, 2011

Sears Holdings Corp. says the store closings will generate $140 to $170 million in cash in inventory sales.

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