Americans’ consumer confidence rises
U.S. consumer confidence jumped this month on a better outlook for hiring and overall growth, supporting other signs that show the economy could accelerate in 2014.
The Conference Board says that its index of consumer confidence rose to 78.1 in December, up from 72 in the previous month. November’s figure was revised up from 70.4.
Consumer confidence is nearly back to where it was before the partial government shutdown in October. Steady job gains and a surging stock market have made Americans more optimistic about the economy and hiring both now and in the next six months.
Home prices up but rate of increase slows
U.S. home prices rose in October from the previous year at the fastest pace in almost eight years. But price gains slowed in most U.S. cities from September to October, suggesting the increases are leveling off.
The Standard & Poor’s/Case-Shiller 20-city home price index rose 0.2 percent from September to October, down from a 0.7 percent increase from August to September.
Monthly price gains slowed in 18 of the 20 cities tracked by the index, and prices declined in nine cities, including Chicago, Denver and Washington. For the year, prices are still strong, reflecting big gains in earlier months. They have risen 13.6 percent over the past 12 months, the fastest since February 2006.
Revlon exiting China amid declining sales
Revlon said it is leaving China and eliminating 1,100 jobs as part of a cost-cutting measure.
Most of the jobs cuts will be in China. Revlon’s operations there make up only 2 percent of the company’s sales, which have been declining. Global sales fell 1.3 percent to $1.02 billion in the nine months through September, compared with the same period in 2012.
Revenue in Asia dropped 3.5 percent to $166.8 million during that time.
The departure will save the makeup company $11 million a year, Revlon said in a regulatory filing with the U.S. Securities and Exchange Commission.
Apple denies role in alleged NSA hacking
Apple Inc. says it played no role in the National Security Agency’s alleged efforts to hack the iPhone, explaining that it was unaware of a recently revealed program apparently aimed at turning the best-selling smartphone into an improvised listening device.
The Cupertino, Calif.-based company said it has never worked with the NSA to deliberately weaken its products, promising that it would "defend our customers from security attacks, regardless of who’s behind them."
2014 salary for Netflix CEO to jump 50%
Netflix Chairman and CEO Reed Hastings is getting a 50 percent pay bump in 2014 after a year in which shares of the online video subscription company quadrupled to an all-time high.
A regulatory filing shows that Hastings’ annual salary will climb to $3 million from $2 million next year, and his annual stock option allowance also will rise by $1 million to $3 million.
The $6 million in total pay compares with $4 million in 2013, when his pay doubled.
Netflix Inc. shares hit an all-time high price of $389.16 in October after ending 2012 at $92.59.
ON THE MOVE
Hawaii Pacific Solar has announced Stanford K. Lanias has joined the company as an account executive. He was previously a property manager with Peake & Levoy Commercial Real Estate Services as well as general manager of Cornerstone Building Maintenance.
University of West Oahu facilities manager James “Kimo” Yamaguchi has been selected as the 2013 recipient of the President’s Award for Excellence in Building and Grounds Maintenance. He played a central role in preparing and planning the UH-West Oahu campus for its transition from Pearl City to Kapolei.
