GameStop Corp., the largest specialty retailer of video games, said its initial allocation of PlayStation 4 consoles sold out and that 2.3 million customers are waiting for new players from Sony Corp. and Microsoft Corp. Initial sales of the PS4 exceeded its predecessor, the PlayStation 3, by more than 80 percent in the first few days, executives of the Grapevine, Texas-based chain said. They also anticipate a large waiting list for Microsoft Corp.’s Xbox One, suggesting a prolonged industry sales slump is ending. The Xbox One went on sale Friday.
U.S. job openings and overall hiring rose to five-year highs in September, signaling improvement in the job market. The Labor Department said Friday that job postings rose 69,000 to a seasonally adjusted 3.9 million. That’s the most since March 2008, just a few months after the Great Recession began. Total hiring rose 26,000 to 4.6 million, the highest level since August 2008. The increase suggests employers are not only posting more jobs but are also taking greater steps to fill them.
Billionaire John Paulson, the best- known gold bull since he started wagering on bullion more than three years ago, is backing away from his bet. Paulson told clients at his firm’s annual meeting this week that he personally wouldn’t invest more money in his gold fund because it’s not clear when inflation will accelerate, according to a person familiar with the matter. The hedge-fund manager has lost 63 percent year-to-date in the PFR Gold Fund, ther person said.