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Thursday October 6th

Keystone clears consciences

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• The results of the Obama administration’s analysis of the Keystone XL pipeline revealed that the pipeline will have little impact on global climate change. The study showed that the pipeline would not increase the amount of oil extracted from Canadian oil sands, according the Wall Street Journal.

• Under the new ownership of Hudson’s Bay Co., clothing store Saks is looking to increase the number of Off 5th outlet stores as well as climb into the area of higher luxury goods, according to the Wall Street Journal.

Business Briefs• Oil drilling company Royal Dutch Shell is suspending its controversial drilling in Arctic waters off the Alaskan coastline. The company says the changes are due to cost cutting efforts and political uncertainty, according to the Financial Times.

• U.S. money hasn’t moved into European equities at such a rapid pace since the 1990s. Investors, in the wake of tumbling emerging markets, are finding similar risk-reward opportunities in Southern Europe, according to the Financial Times.

• Known for their action-packed video and presence in extreme sports, the camera company Go-Pro is hoping to branch into the world of media companies. Their strategy lies largely in a YouTube channel and potential deals with platforms similar to Apple TV, according to the New York Times.

• Amazon, in hopes of increasing its small profit levels, is debating a price increase for its Amazon Prime users. Prime users enjoy benefits such as free two-day shipping, video streaming and deals on Kindle books, according to the Wall Street Journal.

• Google has agreed to sell its Motorola handset business to the Chinese technology company, Lenovo. The deal is expected to receive heavy criticism from the federal government because it involves the sale of telecommunications equipment to a company backed by the Chinese government, according to CNBC.

• Coca Cola’s Super Bowl commercial raised controversy among conservative viewers when they aired clips of “America the Beautiful” being sung in various world languages. The commercial ended with the tagline “America is beautiful,” according to CNBC.


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