May 18, 2013

Business News

US Treasury Reports $113B Surplus in April

Posted: 05/10/13 - The U.S. Treasury says it took in a surplus of $113 billion in April, the largest in five years. That lowered the federal deficit through the first seven months of the budget year and kept it on pace to be the smallest since 2008. Read More

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Obama Emphasizes Trade with Latin America

Posted: 05/04/13 - President Barack Obama says the U.S. places great importance on its trading relationships with Latin America and will keep working to improve those ties and help the region become more competitive. Read More

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More Business News

Economic News

  • Is Powerball a Good Bet? Keep Dreaming
    Another record lottery jackpot has thousands of Americans dreaming of Powerball riches. But the numbers say that even with a nine-figure potential payout, a ticket still isn't a good bet.
  • Consumer Optimism Returns to Pre-Crisis Level
    The Thomson-Reuters/University of Michigan early-May consumer-sentiment index jumped to 83.7 from 76.4 at the end of April and a preliminary April reading of 72.3.
  • Some Banks Halt Foreclosures
    Some of the nation's largest banks, including Wells Fargo, suspended foreclosure sales in a number of states following guidance issued by federal banking regulators.
  • Soft Inflation Poses a Growth Test
    The sluggishness of the U.S. economy is driving down inflation, leaving companies unable to increase prices and raising doubts about the durability of the recovery.
  • Housing-Permit Surge Suggests Blip
    Construction of new homes sank last month far more than expected, but a surge in building permits points to a pickup in the months ahead.
  • Fed Hawks, Doves Air Views on Bond Buying
    Federal Reserve officials are deeply engaged in debating when to begin dialing back an $85 billion-a-month bond buying program, but don't appear near consensus on when to pull the trigger.
  • Euro Zone Trade Surplus Reflects Weak Demand
    The trade surplus for the 17 nations that use the euro hit its highest level in March since records began in 1999, driven by a sharp rise in exports and a decline in imports as well as steadily rising exports.
  • China's Foreign Direct Investment Lags
    Foreign direct investment in China sputtered in the first four months of the year, despite renewed signs of strength from the U.S. and the European Union, showing only a modest 1.21% rise from a year ago.
  • Europe's Manufacturers Feeling Squeezed
    Some executives at the annual European Business Summit say the challenge for the EU is to prevent a further deindustrialization of the continent.
  • RBS to Cut More Jobs
    Britain's part state-owned banks continued their efforts to shed government support, as Lloyds Banking Group forecast a return to profit and Royal Bank of Scotland said it would cut 1,400 more jobs.

US Business News

  • U.S. Opens Door to More Gas Exports
    The Obama administration cleared the way for broader natural-gas exports by approving a $10 billion facility in Texas, a milestone in the U.S. transition into a major supplier of energy for world markets.
  • J.P. Morgan's Dimon Makes His Case
    J.P. Morgan Chief Executive and Chairman James Dimon is making the case for continuity in the final days before a potentially defining vote on his future.
  • GM Shares Roar Back to Old Levels
    General Motors shares eclipsed their $33 IPO price, fueled in part by enthusiasm over the company's new vehicles.
  • Priming the Pump for Natural-Gas Cars
    A natural-gas trade group is planning a campaign to show compressed natural gas can be an effective fuel for passenger cars to encourage wider use of the fuel in transportation.
  • Penney Plans Bangladesh Audits
    J.C. Penney plans to beef up its audits of factories in Bangladesh by requiring them for the first time to undergo structural and engineering inspections.
  • DirecTV Considers Hulu Bid
    DirecTV, the second largest U.S. pay-TV provider, is weighing a potential bid for Hulu, the latest company to show interest in the six-year-old video site.
  • Bloomberg Taps Palmisano for Review
    Bloomberg appointed former IBM chief Samuel Palmisano to review the company's compliance measures, in response to concerns about subscriber information that had been available to Bloomberg journalists.
  • Mixed Transocean Results for Icahn
    Transocean shareholders rebuffed many of Icahn's efforts to bring about changes. But they awarded the activist investor one victory, dethroning the company's longtime chairman.
  • Judge Deals Setback to PokerStars
    The online poker giant PokerStars was dealt a setback in its quest to enter the U.S.'s burgeoning regulated online gambling markets, when a New Jersey state judge said the Atlantic City casino that PokerStars planned to buy could be put back on the market.
  • FTC Clears Tesoro Purchase of BP Refinery
    The Federal Trade Commission will allow Tesoro to go through with its plans to buy a BP refinery in Southern California, bringing the two companies one step closer to sealing the deal sometime this quarter.