Daily Hampshire Gazette - Established 1786
Lsno/fog
19°
Lsno/fog
Hi 37° | Lo 19°

Business & Money

A trader works at the New York Stock Exchange, Tuesday, Feb. 9, 2016. Stock markets have been in a slump so far this year after a lackluster 2015. Several factors have kept investors in a selling mood, including falling crude oil prices, waning growth in major economies and the prospect of Federal Reserve rate hikes after several years of ultra-easy monetary policy. (AP Photo/Mark Lennihan)

Stocks extend losing streak as oil plunges

Tuesday, February 9, 2016

U.S. stocks extended their three-day losing streak Tuesday, closing slightly lower after spending most of the day wavering between gains and losses. Energy companies led the decline as the price of U.S. crude oil sank nearly 6 percent. It’s now at about $28 a barrel. The market’s bumpy ride followed a slide in European stock indexes and steep losses in …

Companies lose billions buying back own stock

Tuesday, February 9, 2016

NEW YORK — If you think your stocks are doing poorly, check out the performance of some of the most sophisticated investors, the ones with more knowledge about what’s going on inside businesses than anyone else: Companies that buy their own shares. The companies losing money on these bets are down a collective …

Stocks fall sharply as banks, tech sector are pummeled

Monday, February 8, 2016

Wall Street rode another wave of selling Monday that sent U.S. stocks sharply lower, before a late-afternoon pullback stemmed some of the losses. Investors unloaded materials, financials and other stocks, briefly knocking the Dow Jones industrial average down more than 400 points. Technology shares, which soared last year, were targeted for especially aggressive …

  • JERREY ROBERTS
Margaux Galvin, 7, front right, Saskia Baskin, 8, front left, both of Northampton, and others, practice on the balance beam Tuesday during a class at the Hampshire Regional YMCA.

    JERREY ROBERTS Margaux Galvin, 7, front right, Saskia Baskin, 8, front left, both of Northampton, and others, practice on the balance beam Tuesday during a class at the Hampshire Regional YMCA. Purchase photo reprints »

  • DAN LITTLE
University of Massachusetts student Preston Rowan, 20, competes in the Rail Jam event put on by the UMass Ski and Board Club Friday night in front of the Southwest Residential Area at UMass.

    DAN LITTLE University of Massachusetts student Preston Rowan, 20, competes in the Rail Jam event put on by the UMass Ski and Board Club Friday night in front of the Southwest Residential Area at UMass. Purchase photo reprints »

  • JERREY ROBERTS
Lowell Whitney, of Hadley, sleds with his children, Carter, 10, and Maya, 7, at Hospital Hill in Northampton, Monday.

    JERREY ROBERTS Lowell Whitney, of Hadley, sleds with his children, Carter, 10, and Maya, 7, at Hospital Hill in Northampton, Monday. Purchase photo reprints »

  • DAN LITTLE
Newcomers to tai chi are welcome at Denise Barry's class at the Senior Center in Northampton.

    DAN LITTLE Newcomers to tai chi are welcome at Denise Barry's class at the Senior Center in Northampton. Purchase photo reprints »

  • CAROL LOLLIS
Allison Johndrow,13, puts on the finishing touches to a snow man she and her brother,   Luke,10 Johndrow of Westhampton,built in their yard Friday morning.

    CAROL LOLLIS Allison Johndrow,13, puts on the finishing touches to a snow man she and her brother, Luke,10 Johndrow of Westhampton,built in their yard Friday morning. Purchase photo reprints »

  • KEVIN GUTTING
Wielding an umbrella for some protection against the wet spring-like snow, Yao Wu makes her way to work at the Smith College Museum of Art in Northampton on Friday morning during a snowstorm that dropped about 4 inches on the area and caught many residents by surprise.

    KEVIN GUTTING Wielding an umbrella for some protection against the wet spring-like snow, Yao Wu makes her way to work at the Smith College Museum of Art in Northampton on Friday morning during a snowstorm that dropped about 4 inches on the area and caught many residents by surprise. Purchase photo reprints »

Embargo is under the rug, so Persian carpets can roll in

Monday, February 8, 2016

By Sarah Parvini Los Angeles Times (TNS) LOS ANGELES — The call came in to the rug store at 10:30 last Wednesday morning: After five days in U.S. customs, the first batch of carpets imported from Iran were ready for pickup. Years of waiting finally ended for Alex …

Steady economic growth expected for Valley region in 2016, experts say

Monday, February 8, 2016

Dropping oil prices, low unemployment and interest rates and a continued bounce back from the Great Recession make for a relatively favorable economic climate for the Pioneer Valley. But with economic jitters at the international level and a …

Voices of Valley economy: Tight budgets, depleted savings

Monday, February 8, 2016

Route 9 is perhaps the region’s key commercial artery. So it was there the Gazette went last week to see how well the economy is treating everyday people. Dreadfully, said Cheryl Platts, 60, of Baldwinville. Marginally, said Nancy …

ONE BLOCK A look inside the life and business times of 141 Damon Road, Northampton

Monday, February 8, 2016

THE BLOCK: An unlikely set of neighbors share a commercial plaza at 141 Damon Road in Northampton: A hair salon, a mixed martial arts school, and two pentecostal churches. These local businesses operate alongside an electronics store and …

Q&A: In what ways can a small business or an individual declaring bankruptcy disrupt the local economy?

Monday, February 8, 2016

Alexandra Hogan, an attorney in Springfield with Shatz, Schwartz and Fentin, P.C., specializes in bankruptcy. She was recently selected to serve on the Emerging Insolvency Professionals Subcommittee of the American Bankruptcy Institute. In this Q&A, she explores the …

Area business briefs

Monday, February 8, 2016

Easthampton Chamber holds networking event EASTHAMPTON — The Greater Easthampton Chamber of Commerce will sponsor a Networking by Night event from 5 to 7 p.m. Thursday, at the Glendale Grill, 65 Glendale St. There will be a cash bar and door prizes. The event is sponsored by Canon …

Mass. hydropower plan could change region’s energy landscape

Sunday, February 7, 2016

BOSTON — Tapping into Canadian hydropower is hardly a new concept in energy-starved New England. But Massachusetts Gov. Charlie Baker’s proposal to authorize long-term contracts between utilities and hydropower producers is being viewed in some quarters as a …

Costco delays credit card switch

Friday, February 5, 2016

SEATTLE — Costco’s switch from American Express to Visa is being pushed back to this summer. Costco Wholesale had previously announced that the switch in the only credit card it will accept in its U.S. stores would happen in April. It’s now saying that transition will happen in …

Congress unites in scorn for Shkreli, but gridlock remains

Friday, February 5, 2016

WASHINGTON — A smirking Martin Shkreli briefly united Democrats and Republicans on Capitol Hill this week, as lawmakers took turns blasting the price-hiking former CEO who has become the new poster child for corporate greed. But the gridlocked …

Lawsuit challenges tribal reservation decision

Friday, February 5, 2016

TAUNTON, Mass. — A group of Massachusetts residents is challenging the federal government’s decision to grant the Mashpee Wampanoag tribe reservation lands to build a casino. The lawsuit filed Thursday in Boston federal court argues the U.S. Department of the Interior is not authorized to take lands into …