Business News

Rising Interest Rates

Nordstrom, the largest U.S. luxury department-store chain, saw first-quarter sales rise 9.7% to $3.22 billion. Profits fell 8.6% to $128 million, but  the company reaffirmed its 2015 forecast. Nordstrom is using the company’s chain of outlets to attract more price-conscious shoppers, and they are plowing money into e-commerce. Nordstrom operates an online men’s clothing service called Trunk Club and the flash-sale site HauteLook. It also has invested in the Internet retailer Bonobos. (Bloomberg)

Jack In The Box reported a quarterly profit of $23 million.  The burger chain had sales of $358.1 million in the period. Jack In The Box shares have increased 15% year to date and 66% in the last 12 months. (AP)

In an unprecedented move, the parent companies or main banking units of JPMorgan , Citigroup , Royal Bank of Scotland , Barclays , and UBS are likely to plead guilty to rigging foreign exchange rates to benefit their transactions. (Reuters)

McDonald's turns 75 years old today. McDonald's Bar-B-Q restaurant, the precursor to the fast-food giant known today, opened in California on May 15, 1940. (USA Today)

Join us Saturday for Financial Focus radio when we will share our tips for not getting terminated by rising interest rates.
 

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