CNN Money's Maribel Aber has your top business and financial news on this Monday, March 24.
NEW YORK, NY (CNN) - CNN Money's Maribel Aber has your top business and financial news on this Monday, March 24.
Arkansas' unemployment rate dropped five-tenths of a percentage point in January compared to numbers from a year ago. It was a trend seen in 367 of the country's 372 metropolitan areas, according to the latest report from the Bureau of Labor Statistics. See the full report for here (PDF). The state's jobless rate fell to 8.1 percent in January compared to 8.6 a year ago. In all, about 105,100 Arkansans were without work this January. The Fayetteville-Springdale-Rogers metro area enjoyed the lowest unemployment rate at 5.9 percent, with about 13,500 without jobs. That was down from 6.4 a year ago.
Investors are hungry for initial public offerings, and there's something sweet in the pipeline. King Digital Entertainment, which makes the popular Candy Crush Saga online game, is one of 14 companies set to go public this week. The U.K. based company, which will list on the New York Stock Exchange under the ticker symbol 'KING', plans to sell about 22 million shares at a price somewhere between $21 and $24 per share. Based on the midpoint of that range, King would have a market value of about $7 billion.
Netflix CEO Reed Hastings is hopping mad at the country's biggest Internet service providers. But they've got a bone to pick with him as well. Hastings sounded off Thursday on the likes of Verizon (VZ, Fortune 500), Comcast (CMCSA, Fortune 500) and others, accusing them of "sacrific[ing] the interests of their own customers" in demanding fees to ensure quick delivery of content from Netflix (NFLX) and other data-intensive services. The dispute flared up earlier this year following news that Netflix streaming speeds for customers of major ISPs were slowing, as these firms attempted to extract a fee from Netflix in exchange for connecting directly to their networks and resolving the issue.
Warren Buffett can relax. The $1 billion prize for a perfect NCAA bracket that his Berkshire Hathaway (BRKA, Fortune 500) was backing will go unclaimed. None of the fans who signed up for the perfect bracket challenge sponsored by Quicken Loans and Yahoo Sports made it out of the first round of 32 games played without at least one mistake. The two firms would not say how many fans entered the free contest. Buffett sold an insurance policy to Quicken Loans and Yahoo which would have compensated them if they had to pay out the 10-figure sum.