Business

Politics
10:07 am
Fri June 8, 2012

Obama: Congress Needs To Do More Than Talk About Jobs

President Obama during this morning's news conference at the White House.
Chip Somodevilla Getty Images

Originally published on Fri June 8, 2012 11:58 am

President Obama used the White House press briefing room this morning to again make the case that Congress — and in particular the Republican-controlled House — needs to take up more of his ideas about how to boost job growth.

He also said it's "offensive" to suggest "my White House" may have leaked some secrets to gain political advantage.

We updated with highlights, so hit your "refresh" button to be sure you're seeing our latest.

Update at 12:15 p.m. ET. Romney Says Obama Is 'Out Of Touch':

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Business
3:35 pm
Thu May 31, 2012

Newest Downtown Tenant: A Tech Start-Up Space

Tech Partnership Chair and CEO Bryan Jones explains the new TechLive venture in the room Capital Factory will be using as its main office.
Photo by Robb Jacobson for KUT News

The 16th floor of the Omni Hotel will now be a shared workspace for start-up technology companies.

The Austin Chamber of Commerce announced the initiative today. They’re calling it Austin TechLive.

The facility will provide entrepreneurs with office, meeting and event space in exchange for monthly membership. And with over 4,000 tech companies responsible for over 100,000 jobs in the Austin area – and that number expected to grow by 5,000 jobs this year – the city's tech community is burgeoning. 

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Business
3:24 pm
Thu May 31, 2012

Survey Says Austin Tops for Small Business

Austin ranks well in a survey of small business owners in the service industry.
Photo by Caleb Bryant Miller for KUT News

Austin scored an A-plus in a survey of small business friendliness.

The capitol city ranks as the nation’s fourth friendliest city to small business, according to a survey by Thumbtack.com and the entrepreneurship-focused Kauffman Foundation.

The nationwide survey asked 6,000 of the small business owners registered with Thumbtack – a service which aggregates bids for hiring local help – questions about small business friendliness and finance in their city.

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Business
1:41 pm
Tue May 22, 2012

The Last Slice: Campus Gatti's Pizza Closing After 40 Years

This time next week the Gatti's Pizza buffet will be no more.
Filipa Rodrigues for KUT News

After four decades in business, local pizza purveyor Gatti’s Pizza is closing its campus location on Martin Luther King Boulevard this Monday, May 28.

The location is currently Austin’s oldest continuously running pizza place. The restaurant is closing its doors after it lost its lease with the landlord of the property.

The restaurant is somewhat of a fixture in the campus area, it’s buffet having filled untold numbers of undergraduate bellies since its founding in 1972. When KUT News visited this afternoon, the line was stretching out the door. (It doesn’t hurt that from now until closing, all buffet customers pay the “kid’s price” of $5.49.)

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Business
5:18 pm
Fri May 18, 2012

Protesters Attempt to 'Occupy' Chase Bank

Jillian Schantz Patrick for KUT News

Members of Occupy Austin staged a protest at a local Chase Bank branch this afternoon, resulting in protesters’ ejection from the building.

Occupy Austin had pushed for the City of Austin to move their funds from Bank of America. In February, the Austin City Council passed a resolution looking at that possibility. But instead of shifting those funds to smaller banks or credit unions, as Occupy Austin had hoped for, the city transferred its money to JP Morgan Chase.   

On the heels of JP Morgan’s disclosure of billions in losses from risky financial trades, Occupy Austin members protested at a Chase branch on 19th and Guadalupe Street.

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Business
1:04 pm
Thu May 17, 2012

Chamber of Commerce Aims to Lure Tech Talent to Austin

The Greater Austin Chamber of Commerce hopes this new website will attract new talent.

Today the Greater Austin Chamber of Commerce announced the launch of a new website designed to help fill Austin’s so-called “technology gap.”

The chamber says that Austin tech companies are having trouble finding qualified local candidates for mid-to-senior level positions. Last month the chamber found that 28 percent of posted job openings in the area were tech-related.

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Business
3:15 pm
Fri May 11, 2012

Asian Chambers of Commerce Merge to Serve Growing Population

Austin’s Asian population is growing – and now it’s leading to some big changes for two organizations that support Asian businesses.
Photo courtesy Greater Austin Chamber of Commerce

Austin’s population is more Asian than Texas as a whole – but it has a lower percentage of Asian-owned businesses.  That’s one reason two local chambers of Commerce are merging.

Today the Texas Asian Chamber of Commerce and the Austin Asian American Chamber of Commerce officially joined forces to form one group: the Greater Austin Asian Chamber of Commerce.

Board member Ying McGuire says the united chamber will offer help to Asian-Americans, immigrants and refugees.

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Business
10:56 am
Thu May 10, 2012

Postal Service Presents Plan to Keep Thousands of Rural Post Offices Open

This post office in Cat Spring, Texas is one slated for fewer hours instead of closure under a new proposal.
Photo courtesy Jimmy Wayne, flickr.com/auvet

The United States Postal Service has announced a plan that will keep thousands of small and rural post offices open – cancelling an earlier plan to close up to 3,700 locations. The new plan will keep the current post office locations in place but will modify their hours of operation.

Lobby and post office box services will remain the same, but over 13,000 smaller post offices could reduce their business day to two to six hours, including over a dozen location in Blanco, Martindale, Maxwell and Caldwell counties.

Postmaster General and USPS CEO Patrick R. Donahoe cites demand from customers as the reason for the shift. “We believe today’s announcement will serve our customers’ needs and allow us to achieve real savings to help the Postal Service return to long-term financial stability,” he says in a press release.

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Business
11:36 am
Wed May 2, 2012

Today at UT: The 'Super Bowl' or 'Project Runway' of Business Pitches - Take Your Pick

The McCombs Business School is sponsoring a high stakes venture competition today.
Photo by Teresa Viera for KUT News

Rental maternity clothing? Malnutrition-fighting porridge? Dust compressors? Soon, one of these inventions could be part of your daily life.

Beginning today and running through Saturday, the Global Venture Labs Investment Competition will evaluate business concepts from 40 teams around the world. Hosted by McCombs School of Business' Texas Venture Labs, it's the longest-running competition for graduate student entrepreneurs – the "Super Bowl of business plan competitions," as the school describes it in a press release.

To qualify for the competition, teams had to win regional competitions first, with competitors culled from 13 countries including Thailand, Brazil, Germany and Norway. UT's team has invented a product called eyeQ, which according to McCombs School of Business spokesperson Renee Hopkins, uses video-based technology to monitor consumer purchasing behavior. In other words: Stores get information about how their customers shop, and customers will get an Amazon.com-like retail experience in a brick and mortar store.

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Business
11:29 am
Fri April 27, 2012

Amazon to Start Paying Texas Sales Tax

Amazon has promised a Texas expansion, in addition to paying sales tax starting this summer.

After talks between online retailer Amazon.com and the state over paying sales taxes collapsed last year, the parties have reached an agreement.

The Office of the State Comptroller and Amazon stated today that beginning in July, Amazon – which had a distribution center in Irving, Texas – will begin paying state sales tax.

Amazon also announced it will “create at least 2,500 jobs and make at least $200 million in capital investments” in Texas, over the next four years.

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Business
8:18 am
Mon April 23, 2012

Report Says Wal-Mart Hushed Bribery Campaign In Mexico

A van covered by a mural sits parked outside a Walt-Mart Super Center in Mexico City. Wal-Mart Stores Inc. hushed up a vast bribery campaign that top executives of its Mexican subsidiary carried out to build stores across Mexico, according to a published report by the New York Times.
Dieu Nalio Chery AP

Originally published on Sun April 22, 2012 7:17 am

In a massive investigation, The New York Times reported Saturday that Wal-Mart Stores Inc. silenced a vast bribery effort that top executives of Mexican subsidiary Wal-Mart de Mexico carried out in order to build stores across the country.

According to the report:

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