AT&T reported profit of $3.8 billion in the third quarter, up from a year ago. AT&T said that it added 363,000 contract subscribers in the quarter, about double what it added last year.
Janet Yellen's Senate confirmation hearing to be the next chair of the Federal Reserve is not likely to get under way before the middle of next month, a Senate aide said. President Barack Obama nominated Yellen, the Fed's current vice chair, on October 9 to replace Ben Bernanke when his term expires at the end of January, subject to Senate confirmation.
Serving as an outside director at Twitter is shaping up to be a sweet gig. In an amended securities filing Tuesday, Twitter outlined for the first time how much it may pay its outside directors. The answer: Up to $16 million in cash and stock in the year a director joins the board, and up to $8 million a year in cash and stock for every year after that.
Startup companies would be able to sell stock over the Internet to small-time investors under rules put forth Wednesday by federal regulators. So-called " crowdfunding " has been popular for years now for financing independent films and art projects. This year Congress said startups could use it for raising capital, once regulations are in place to protect potential investors The Securities and Exchange Commission took a step toward that by voting 5-0 to send crowdfunding rules out for public comment. Under the proposal, people with annual income and net worth of less than $100,000 could invest a maximum of 5 percent of their yearly income.