Posted: 5:49 AM
- The number of people applying for U.S. unemployment benefits rose last week after falling to a 14-year low the previous week. Despite the increase, weekly applications remain at historically low levels that suggest hiring is gaining steam.
Russian Economy Stalls Russia’s economy—battered by Western sanctions and falling prices for oil, its main export—stalled in September even as inflation hit the highest levels in months, data showed Wednesday.
Global Growth Woes Threaten to Beset U.S. Economy Another bout of weakening global growth is buffeting a U.S. economy that has faced five years of uneven growth, raising a crucial question: Can the U.S. pull the rest of the world through a slow patch or will sluggish global growth hobble the recovery?
China Growth Slowest in Five Years China’s economy grew at its slowest pace for five years in the third quarter, suggesting the government’s targeted easing measures to boost economic growth haven’t yielded expected results.
U.S. to Expand Student Loan Access The federal government will expand access to student loans to more Americans with poor credit histories under new rules to be announced by the Obama administration Wednesday.
US Business News
Tesco Chairman to Step Down Tesco said Chairman Richard Broadbent would step down as it revealed the accounting practices that led to an overstatement of its profit had occurred in prior periods as well.
Air Bag Recalls Trigger New Scrutiny A suddenly expanded recall of air bags is turning into a new safety crisis for the auto industry and intensifying scrutiny of U.S. regulators’ ability to oversee auto makers and their suppliers.
Clouds Darken for Some Blue Chips Several blue-chip companies have posted poor growth as their once-reliable formulas for success left them too big to switch tack quickly when market conditions changed.
U.S. Auto Sales Fuel GM Earnings General Motors reported a 14% drop in its third-quarter profit but beat analyst expectations as strength in North America offset weaker results in other regions of the world.
Daimler Profit Soars German auto maker Daimler reported a sharp increase in third-quarter earnings on strong demand for its flagship S-class sedans and robust growth in Europe, Asia and the U.S.
Coke Taps New Marketing Chief Coca-Cola is replacing its chief marketing officer with a veteran company insider, the latest bid by the world’s largest beverage maker to revive flagging sales.
Free Shipping Is Going to Cost You More Retailers including Amazon, Best Buy and Gap are boosting the amount online shoppers must spend to qualify for free shipping, hoping to cover the growing cost of providing the perk.
Airlines Post Strong Profits, Offer Bullish Outlooks Several U.S. airlines posted stronger third-quarter profits and expressed bullish sentiments for the fourth quarter, based on falling fuel prices, strong holiday bookings, domestic capacity discipline and a slight easing of Ebola jitters.
Caterpillar Raises Profit Outlook Caterpillar posted stronger-than-expected results for its third quarter as the heavy-machinery maker said restructuring and cost controls paid off in a tough economic environment.
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