Amazon.com's stock: Best price ever

Click chart for more Amazon data.

NEW YORK (CNNMoney)

The online retailer's stock topped $300 for the first-time Thursday, ending the day just below that level at $299.66 a share.

Amazon.com (AMZN, Fortune 500) is up 20% in 2013, continuing a buoyant five-year run in which its stock's value has more than tripled.

Investors welcomed a U.S. district court ruling on Wednesday that Apple (AAPL, Fortune 500) had colluded with multiple publishers to raise prices on e-books.

Related: This ex-Amazon engineer wants to outsmart Jeff Bezos

Apple is appealing the ruling, but many industry watchers expect that the iPad maker will be forced to pay high damages and to have trouble making future deals with publishers.

With its Kindle e-reader and a large selection of books available for sale on its site, Amazon could become the winner in the fierce fight over the future of book buying.

The company is not only competing with Apple, but it is battling Netflix (NFLX) and Hulu for control of the streaming television and movie world by buying films and shows for its library.

Related: Apple found to have conspired to raise e-book prices

Despite its surging stock price, things at Amazon haven't been especially rosy lately. During the first three months of the year, Amazon's profits have dropped by 37%.

Amazon has articulated plans of giving up short-term profits and investing in long-term growth. It has been building new warehouses and pouring money into research and development for future product lines.

Wall Street is buying Jeff Bezos's strategy and giving Amazon a temporary pass on profits, for now.

First Published: July 11, 2013: 4:57 PM ET

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How to tell your kid you're cutting him off

Pick the right moment to talk to your adult child about cutting back your financial support.

(Money Magazine)

Whether you're providing room and board, covering insurance costs, or writing regular checks, you may be doing your child -- not to mention yourself -- a disservice.

"At some point parents have to help their kids spread their wings, even if it means letting them fail," says Steve Aucamp, a financial adviser in Washington, D.C.

These cues can help you nudge your child off the dole.

The Ground Rules

Lose the guilt. "Wanting your child to be financially independent isn't a bad thing," says Susan Ende, co-author of How to Raise Your Adult Children.

Make a plan. Most experts say it's best to wean your kids rather than cut them off cold turkey. So think through your terms before broaching the topic.

Pick your moment. Try to time the talk with a life event, like graduation or a new job, says family dynamics expert Ruth Nemzoff.

Not possible? Schedule a chat rather than waiting until your kid needs cash.

When You're Face to Face ...

1. Opening gambit: "We're glad we were able to help you out these past few years, but we think you're capable of taking more responsibility now."

Why it works: "You're framing this as a positive step forward, not a guilt trip," says Nemzoff, author of Don't Bite Your Tongue: How to Foster Rewarding Relationships With Your Adult Children.

Related: Is a neighbor hurting your home's value?

2. Explain yourself: "You kids have been our priority for years. Now we need to focus on saving for our retirement. And we also want you to become financially independent adults."

Why it works: Help your kids understand the big picture, and they'll be more likely to accept the new reality, says Aucamp. So make sure they know why you're unable to keep supporting them and that your decision is not a punishment.

3. Lay out the terms: "We think it's time for you to pay your own rent. To help you get set up, we'll cover the next three months and match what you save up to $1,000."

Why it works: You're spelling out exactly what you can offer in the short term and your expectations for the long term. This approach offers support -- and incentive -- while holding your kid accountable.

If Junior protests that he can't swing it? Assuming your terms were reasonable, don't waver.

4. Give the gift of empathy: "We know this won't be easy. We're here whenever you need to talk."

Why it works: "Make it clear that just because you're cutting off the money doesn't mean you're cutting off the relationship," Nemzoff says. Instead of cash, hand out advice when asked. For example, you can suggest resources to find a roommate to split the rent or go with your child to look at cheaper digs.

Related: How to talk about money before saying 'I do'

5. Underscore the deadline: "We think three months is ample time to set up a cash cushion. So after Nov.1, you're on your own."

Why it works: "People rise to the occasion when they have to," says Ende.

Of course, deadlines -- just like plans -- are good only if you stick to them. "If your child comes back home and you swoop in with a safety net," she adds, "you'll only have to start the process over."

First Published: July 11, 2013: 5:28 PM ET

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The hot business of exporting America's franchises

Foreigners all over the world are craving U.S. franchises, like this one in Russia.

NEW YORK (CNNMoney)

Foreigners made up nearly a fifth of the attendees, and even small companies found themselves awash in attention. There's an insatiable appetite abroad for American franchises.

Take, for instance, the four Bolivian businessmen who crowded around the Wing Zone booth to make their case: Bolivia's ready for chicken wings, and Wing Zone is just the right American brand to bring back home.

With 60 or so locations in the United States, Wing Zone isn't exactly a big player when compared to, say, McDonald's. But international expansion, once reserved for only the largest brands, is gaining popularity for even the smallest franchises.

Related: For Fatburger, Obamacare delay came too late

"It's really picked up in the last year," said Wing Zone founder Matt Friedman, who plans to add locations in Colombia, Malaysia, Russia and the United Arab Emirates this year.

American brands are growing faster abroad than they are domestically, according to a CNNMoney review of industry data collected by the Franchise Times. From 2010 to 2012, domestic growth was largely flat -- or even down -- for the top 10 brands. Meanwhile, growth exploded abroad.

The number of McDonald's (MCD, Fortune 500) locations grew by 1% at home, but locations abroad grew 5%. 7-Eleven expanded its convenience stores by 10% domestically, versus 19% internationally. KFC (YUM, Fortune 500) closed more U.S. units than it opened, while it expanded by 14% elsewhere.

The U.S. economic downturn made it harder for American brands to expand domestically.

"The smart franchisors refocused their attention on growing internationally," said Scott Lehr of the International Franchise Association, where he helps oversee business development.

They've turned to entrepreneurs like Asfaque Ahmed. Having inherited a fortune from his grandfather's land in Bangladesh, the 28-year-old has bought a garment supply factory that produces Ralph Lauren T-shirts, a mustard oil manufacturing facility and a restaurant.

At the expo, he had his heart set on bringing a Subway franchise to Bangladesh.

"Our food is so oily," Ahmed said. "If I introduce low-calorie and low-fat food, it'll be great."

Ahmed could be among the first. Subway is actively seeking franchisees in Bangladesh, and its chief development officer, Don Fertman, said Ahmed fits the profile for an ideal candidate: young, enterprising and thirsty for taking on a new brand.

But getting approval to open a franchise is much like landing a job, so Ahmed will also need to show a track record of business success. Ahmed faces a lot of competition.

American brands are awash in foreign offers. At Subway alone, annual inquiries from foreigners have doubled in five years to 200,000.

Related: New York bakery defends Cronut trademark

The flood of demand has given U.S. companies an upper hand. Even smaller franchises can demand more satisfying terms, such as requiring franchisees to open several locations at once.

This reduces the headache of expansion. Entering a new country generates the need to establish new supply chains. The more locations there are, the more sensible that new supply line is.

That's what the Wing Zone franchise is currently gunning for. Friedman is now in talks with Ricardo Issa, a fitness club owner, to possibly open 10 Wing Zone restaurants across Bolivia, where chicken wing restaurants are a rarity.

"Being a pioneer in a new country is always exciting," Friedman said. "We think that South and Central America are amazing opportunities for us. We want to be the first wing franchise there. If we do it right, being the first to market is such an advantage."

First Published: July 12, 2013: 1:22 AM ET

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Yum troubles continue in China

Yum Brands earnings have been hit by food safety concerns in China.

HONG KONG (CNNMoney)

Yum Brands said Thursday that net income fell to $281 million in the second quarter, a 15% decline from the same period last year. Same store sales in China were down 20%, the company said.

With some troubles expected, the report topped analyst expectations, boosting Yum (YUM, Fortune 500) shares in after-hours trading.

The company is still grappling with the fallout from a food safety scandal and fears over a new strain of bird flu in China. Yum has placed big bets on future growth in the world's second largest economy; it operates more than 4,200 KFC restaurants in China, as well as about 800 Pizza Huts.

"KFC sales and profits in China were significantly impacted by intense media surrounding Avian flu, as well as the residual effect of the December poultry supply incident," CEO David Novak said in a statement.

Customers began deserting the restaurants in droves late last year after an investigation by Chinese food regulators found excessive levels of antibiotics and hormones in some chicken products sold at KFC locations.

Related story: Smithfield CEO says no meat will be imported from China

The contaminated chicken was traced to two KFC poultry suppliers, sparking calls for a boycott among Chinese consumers.

Even with the setbacks, Yum will proceed with an aggressive expansion of its operations in China, including 700 new restaurants in 2013 alone.

And there are signs that consumers in China are starting to return to Yum restaurants.

"The good news is that China sales are recovering as expected," Novak said. "We expect a strong bounce-back year in 2014."

First Published: July 10, 2013: 11:02 PM ET

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Foreclosures fall to pre-housing bust levels

In June, foreclosure filings dropped to their lowest level since before the housing bust.

NEW YORK (CNNMoney)

Total foreclosure filings, including notices of default, scheduled auctions and bank repossessions, dropped to 127,790 in June, down 35% over the past 12 months, according to RealtyTrac. Overall, filings have hit their lowest monthly level since December 2006.

The number of foreclosure filings have plunged so fast -- down 14% since May -- that the housing market could be back to pre-mortgage meltdown levels before the end of the year, according to Daren Blomquist, a vice president at RealtyTrac.

Related: How smart are you about mortgages?

"Halfway through 2013 it's becoming increasingly evident that foreclosures are no longer a problem nationally, [although] they continue to be a thorn in the side of several state and local markets," he said.

The five states with the highest percentage of foreclosure filings last month were Florida, Nevada, Illinois, Ohio, and Georgia. In Florida, Miami, Orlando, Jacksonville, Ocala, and Tampa held the top five spots for filings among the nation's metro areas.

While initial filings for foreclosures dropped by 45% year-over-year to a seven and a half year low, the number of homes that were further along in the process and were repossessed have not fallen as quickly.

"[At the last stage of foreclosure] they trail other filings," said Blomquist.

Related: Thousands of borrowers to get mortgage payments reduced

Bank repossessions are still trending at a rate of more than 420,000 a year, compared with a historical average of 250,000, said Blomquist.

Many of these repossessions are occurring in states where courts supervise the foreclosure process and they are just now working through a backlog of foreclosures that built up after the so-called robo-signing scandal.

"The increases in judicial foreclosure auctions demonstrate that these delayed foreclosure cases are now being moved more quickly through to completion," said Blomquist. "Given the rising home prices in most of these markets, it is an opportune time for lenders to dispose of these distressed properties."

And as home values rise nationwide, more homeowners are able to keep their homes or sell them before they lose them to foreclosure.

First Published: July 11, 2013: 12:35 AM ET

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Japan pours on stimulus as others ponder retreat

HONG KONG (CNNMoney)

Governor Haruhiko Kuroda's central bank was late to the stimulus game, but earlier this year launched an ambitious plan designed to reverse 15 years of falling prices in Japan.

The bank is expanding its balance sheet by purchasing longer-term debt and securities like ETFs. The bank has also merged its asset-purchase programs and suspended a rule that prohibited the purchase of longer-term debt.

The purchases -- made at an annual pace of 60 - 70 trillion yen -- will double the bank's monetary base over a two-year period.

The BoJ said Thursday the plan is working, citing improvements in public investment, demand levels and exports.

"Japan's economy is starting to recover modestly," the bank said in a statement that affirmed current policy.

The bank's commitment to its monetary policy comes as other countries hint that stimulus might soon be scaled back.

Global investors freaked out in June with just a hint from Federal Reserve Chairman Ben Bernanke that the U.S. could pull back on its stimulus program later this year.

According to minutes from a June meeting, released Wednesday, Fed officials are split on when to end the central bank's controversial bond-buying program.

"About half" of the 19 Fed "participants" expect the economy will improve enough to warrant an end to QE3 later this year, the minutes said.

A powerful group, representing global central banks, wants that and more.

In its annual report issued last month, the Bank for International Settlements suggested that global central banks should stop relying on stimulus to grow their economies and instead encourage authorities to speed up reforms.

"We are past the height of the crisis, and the goal of policy has changed -- to return still-sluggish economies to strong and sustainable growth," said the BIS, a consortium of central banks like the Fed and the European Central Bank.

But some central bankers aren't ready to pull the plug. The European Central Bank and Bank of England said last week they intend to keep the cheep money flowing.

Related story: BIS tells global central banks to reduce stimulus

Japan is something of a special case. Kuroda's ambitious monetary policy is just one leg of the government's so-called Abenomics strategy -- a program that includes a mix of aggressive monetary action, structural economic reforms and government spending.

Markets have responded to the stimulus measures, with the yen falling dramatically against the dollar, and the Nikkei briefly rising to a five-year high while breaking the 15,000 point barrier.

Related story: 7 big winners in Nikkei surge

Analysts at Capital Economics noted the BoJ has some room to run, especially since its efforts to keep long-term interest rates low have been successful.

"Given the pressures now buffeting other major central banks, the likelihood that the Bank of Japan will signal a policy of 'steady as she goes' should be seen as a sign of strength rather than weakness," the economists wrote.

First Published: July 11, 2013: 12:30 AM ET

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IRS chief seeks to stop bonuses

IRS chief Danny Werfel

WASHINGTON (CNNMoney)

The news comes after an outcry over IRS plans to award $70 million in bonuses by Sept. 30. Werfel told his 90,000 Internal Revenue Service workforce that he aims to reverse the plan to award bonuses, according to a memo. He blamed the move on the sequester -- the $85 billion in forced spending cuts that has hit all federal agencies.

"This is not a reflection of the quality or performance of the work done by you and your colleagues, but rather an unfortunate byproduct of the difficult budgetary situation we find ourselves in," said acting chief Werfel in the memo to employees.

Werfel said that he plans to try and stop bonuses for senior executives as well as IRS employees covered by union contracts. But he stopped short of saying that bonuses wouldn't happen.

"It is my intention to continue to pursue eliminating award payouts this year to bargaining unit employees," he wrote.

Previously, the IRS has said it can't end the bonuses, which are bound by legal contracts with the unions. The federal spending cuts allow spending that is legally required.

Related: Port, wine and kazoos on IRS worker charge cards

Werfel also said that if the IRS wipes out bonuses, he would cancel the remaining furlough days on July 22 and Aug. 30.

Employees at the IRS have already been forced to stay home, unpaid on furlough on May 24, June 14 and July 5. On those days the agency shuttered offices, most hotlines and assistance centers nationwide.

"If the IRS cancels the remaining furlough days, all employees would be paid on those days," Werfel said. "It would mean the IRS would remain open on those days to serve taxpayers and meet the needs of the nation's tax system."

The National Treasury Employees Union, which represents IRS workers, remains firm that the bonuses are legally required to be delivered this year. They say furloughs should not be contingent on bonus awards.

"NTEU believes it is not necessary for the IRS to cancel the awards in order to avoid the remaining furlough days," said NTEU President Colleen M. Kelley in a statement. "The IRS should examine all parts of its budget before eliminating incentive awards for high-performing front line employees."

The controversy comes at a particularly bad time for the IRS, whose employees have been in the spotlight for singling out Tea Party conservative groups for extra tax scrutiny over the years.

Wave of federal retirees to hit government

In May, Sen. Charles Grassley protested the bonuses and wrote Werfel that all such payments were supposed to be halted under the federal spending cuts, known as sequester. Grassley called Werfel's call to end bonuses a "step in the right direction."

"But it shouldn't take a media firestorm and congressional outrage for the IRS to act within its budgetary constraints," he said in a statement. "Rejecting the White House's mandate to stop bonuses across the board would be a slap in the face to taxpayers."

First Published: July 9, 2013: 6:06 PM ET

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AIG, GE Capital tagged "systemically important," will face greater regulation

NEW YORK (CNNMoney)

The rulings do not mean that AIG and GE Capital are in any distress right now. Rather, the government's Financial Stability Oversight Council has concluded they could destabilize the financial system if they faced problems.

"These designations will help protect the financial system and broader economy from the types of risks that contributed to the financial crisis," Treasury Secretary Jack Lew said in a statement.

AIG was one of the largest recipients of bailout funds during the crisis, receiving over $180 billion. The insurer hemorrhaged money after selling credit default swaps -- essentially, insurance contracts -- on mortgage securities that failed in huge numbers when the housing market collapsed.

GE Capital, the financing arm of General Electric (GE, Fortune 500), benefited from a bailout program in which financial institutions were allowed to issue billions of dollars in debt backed by the government.

Related: The rebirth of Fannie and Freddie

As a result of the oversight council's rulings, AIG and GE Capital will potentially be subject to tougher liquidity and capital standards and periodic stress tests. They will also have to strengthen their risk-management procedures and submit plans for the winding down of their businesses in the event of financial distress or failure.

AIG (AIG, Fortune 500) said it "did not contest this designation and welcomes it." GE Capital said it was prepared to work with regulators "on the implementation of this designation," adding that it had "strong capital and liquidity positions."

Monday's rulings came from the Financial Stability Oversight Council, a panel of regulators created by the 2010 Dodd-Frank financial reform bill and tasked with identifying risks to the financial system. The rulings mark the council's first use of its authority to increase regulation of non-bank financial institutions.

First Published: July 9, 2013: 6:49 PM ET

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Where can Asiana crash victims file lawsuits?

NEW YORK (CNNMoney)

And the location of the lawsuits could help determine how much victims are paid.

The compensation of victims of international airline accidents is dictated by a 1999 treaty called the Montreal Convention.

The treaty specifies a handful of locations where a claim can be filed. Among them are the airline's principal place of business, where a passenger's ticket was purchased, the passenger's "principal and permanent" residence and the passenger's ultimate destination.

Several aviation law experts say U.S. courts are typically more generous with financial compensation for victims and their families. Even if cases are settled out of court, which experts say is likely, awards could be larger there.

"Two people with identical injuries can have vastly different awards if the case is pending in San Francisco or if it's being brought in China," said James Kreindler, a New York-based attorney specializing in aviation accidents, who recently represented families of nearly 20 victims of the fatal 2009 Colgan Air crash in Buffalo, N.Y.

Related: Asiana passengers likely to get millions

Under the treaty, injured passengers are always able to seek damages for medical bills, lost wages and pain and suffering of up to around $150,000. On top of that, injured passengers are able to seek unlimited damages -- unless the airline can prove that it took all necessary measures to prevent the crash.

"That would be extraordinarily difficult for the airline to prove it wasn't negligent at all," said Joel Faxon, a Connecticut-based trial lawyer who represented the family of one of the victims of the 2009 Colgan Air crash.

The treaty's "destination" provision is expected to be a sticking point for many of the victims since the majority of the flight's passengers were not U.S. residents. Foreign citizens who had bought round-trip tickets will likely have a hard time suing in the U.S. since it was not their final destination, Kreindler said.

Related: Asiana Airlines shares tumble after San Francisco crash

"It is not simply the case that everyone can sue in the United States because the accident happened here," Kreindler said.

According to an Asiana press release, the plane's 291 passengers included 141 Chinese citizens, 77 Korean citizens, 61 U.S. citizens and one Japanese citizen.

In a statement, Asiana said it "feels strongly responsible to all those affected by the incident" and "will continue to exert great effort in providing assistance and on the ongoing investigation."

First Published: July 10, 2013: 12:37 AM ET

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Barnes & Noble CEO resigns as company struggles

Outgoing Barnes & Noble CEO William Lynch shows off the company's NOOKcolor device at an event in 2010.

NEW YORK (CNNMoney)

Lynch is departing after a three-year tenure in which Barnes & Noble was battered by the shift away from brick-and-mortar bookstores to e-commerce and digital products.

The company has tried to compete in the tablet market with the likes of Amazon's (AMZN, Fortune 500) Kindle and Apple's (AAPL, Fortune 500) iPad, but sales of its Nook tablets have disappointed, falling 34% in the most recent quarter.

Overall, Barnes & Noble (BKS, Fortune 500) reported a quarterly loss last month of $118.6 million, nearly double its loss from a year prior. Revenue fell 7.4% to $1.3 billion.

Related: Amazon's (not so secret) war on taxes

Lynch's resignation is effective immediately. Barnes & Noble spokeswoman Mary Ellen Keating said Monday that the company "is in a transition period, so we have we have no immediate plans to name a new CEO."

Chief Financial Officer Michael Huseby has been appointed president of Barnes & Noble Inc. and head of the company's Nook division. Huseby and Mitchell Klipper, head of Barnes & Noble's retail division, will report directly to the company's executive chairman, Leonard Riggio.

Barnes & Noble shares sank 4.3% in after-hours trading Monday.

First Published: July 8, 2013: 6:51 PM ET

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