Arizona Business News


SkyMall In-Flight Catalog May Be Revived By New Owner
Airline passengers might see the quirky Phoenix-based SkyMall catalog return to the backs of their seat pockets under new court-approved ownership.
April 1, 2015
Ducey Signs Microbrewery Bill At Tempe Four Peaks Brewery
On Tuesday night, Arizona Gov. Doug Ducey signed a bill increasing the production cap for state microbreweries.
March 31, 2015
New Ruling To Allow Equity Crowdfunding In US
A entirely new way to invest in businesses is on the horizon after the U.S. Securities and Exchange Commission decided this week to allow equity crowdfunding, which gives private companies the ability to raise money from the general public nationwide.
March 27, 2015
Scottsdale Hotel Rates Up 14 Percent
Hotel occupancy in Scottsdale remains strong. February had an 82 percent occupancy rate, about the same compared to last year. One thing that has risen is the average price of a hotel room. Compared to February 2014, hotel room rates are up by almost 14 percent to an average of $240 a night.
March 24, 2015
Nonprofit Aims To Help Women Survive In Small Business
Small businesses pop up every year, but within the first five years of operation, many of them close. One nonprofit hopes to get women in on the small business trend, in a way that helps them survive the formative years.
March 20, 2015
Metro Phoenix Ranks Second For Underwater Homes
The local housing market has been in recovery for a few years, but a new report found Arizona and metro Phoenix still have among the highest underwater rates in the nation.
March 20, 2015
Home Mortgages May Climb This Year With Fed Move
The Federal Reserve signaled it may begin raising interest rates this year for the first time since 2006, which would have a ripple effect on the economy, especially housing.
March 18, 2015
Macerich Rejects $22B Mall Takeover Bid, Adopts Poison Pill Defense
The hostile $22 billion takeover attempt of Macerich Co., Arizona’s largest shopping mall owner, escalated Tuesday after rejecting its rival's offer and putting defense tactics in place to thwart further action.
March 17, 2015
Crowdfunding Bill Moving Swiftly Through Arizona Legislature
For decades, federal and state laws have allowed only the wealthiest, most financially sophisticated investors to buy stock in a private company. Arizona lawmakers now want to extend that privilege to the general public.
March 16, 2015
Ex-Macys At Mesa Fiesta Mall To Become Corporate Offices
A pair of local developers is pouring $21 million into stripping the old Macy’s store down to its bare bones and rebuilding it into a corporate office campus that could bring as many as 1,300 jobs to the area.
March 12, 2015
Macerichs Rival Ups Ante In $22 Billion Mall Takeover Offer
Macerich Co., which owns the largest number of shopping malls in Arizona, is facing a $22.4 billion takeover bid by one of its biggest rivals and the dispute is becoming hostile.
March 11, 2015
Powdered Alcohol Company Gets Federal Approval
A powdered alcohol product got final federal approval for the second time. The Alcohol and Tobacco Tax and Trade Bureau accidentally permitted it for a few weeks last year.
March 11, 2015
PetSmart Buyout Deal Complete, New CEO Appointed
The $8.7 billion buyout of Phoenix-based PetSmart Inc. became a done deal Wednesday, along with some immediate changes to top leadership.
March 11, 2015
PetSmart Shareholders Approve $8.7 Billion Buyout
The $8.7 billion-buyout of Phoenix-based PetSmart is almost a done deal now that shareholders cast their votes of approval on Friday. As a result, PetSmart will go private under new ownership once the deal closes next week and experts say it could be a good thing for shoppers.
March 6, 2015
Shopping Mall Owner Macerich Facing Possible Takeover By Rival
California-based Macerich has been the largest shopping mall owner in Arizona for about 13 years, but that could change should one of its biggest rivals decide to make a formal takeover offer.
March 5, 2015
SolarCity Files Antitrust Lawsuit Against SRP For New Solar Rates
SolarCity filed an antitrust lawsuit against Salt River Project in federal court on Monday. The company's goal is to eliminate SRP's new charge on solar customers that was approved as part of a rate increase last week.
March 3, 2015
Apple Tax Break Legislation Awaits Governors Signature
Arizona lawmakers have swiftly approved a bill that would line up millions of dollars in tax incentives for Apple Inc.’s global command center in Mesa, and now awaits the governor's signature.
March 2, 2015
Northern Trust Building New Office In Tempe, Promising 1,000 Jobs
Tempe announced its adding yet another company to its roster of big name businesses. Northern Trust, a financial services company, is expanding its current operations by building a new office, and it is promising to create 1,000 jobs in the next three years.
Feb. 27, 2015
Valley Sees Sudden Surge In Homebuying Activity
A sudden spike in buyer activity in February may signal a turnaround for the Valley's housing market, which has been experiencing a cooling off period for more than a year, according to a special report by Arizona State University.
Feb. 27, 2015
What The SRP Rate Hike Vote Means For Customers
The SRP Board of Directors has voted to raise rates for all of the utility’s customers – the increase was controversial for its potential impact on the solar industry.
Feb. 27, 2015