- BNP Paribas, France's largest bank, has pleaded guilty in New York to a federal charge of violating U.S. economic sanctions by processing transactions for clients in blacklisted countries.
- The Dow Jones industrial average topped 17,000 for the first time Thursday, the index's first big 1,000-point milestone this year, following news that hiring in the U.S. accelerated last month.
Gasoline Costs Lift Inflation Gauge U.S. consumer inflation continued to stiffen last month but largely decelerated outside a jump in gasoline prices, and food costs in particular slowed after surging in recent months.
Hedge Funds Saved Billions in Tax: Senate Hedge funds used a tax avoidance technique offered by Wall Street banks for years to skirt federal leverage trading limits, with one well-known trading firm potentially saving $6.8 billion in U.S. taxes, Senate investigators claim.
EU Infrastructure Cutbacks Worry Economists Outlook: Hit by the recession, a number of European governments cut capital spending on transportation, housing, education and other areas, a move that some experts say will harm economic growth.
This Way Up: Mobility in America Essay: Economic mobility is alive and well for Americans who pursue technical or practical training. The U.S. economy's future could lie along the career paths of welders, nurses and franchise owners.
Blame It on the Rain: Housing Starts Sink 9.3% U.S. home construction tumbled in June due to a stretch of wet weather in the South, a decline that analysts said was likely a temporary departure from a trend of recovery in the housing market.
Yellen Balks at Tying Rates to Formula Federal Reserve Chairwoman Janet Yellen pushed back against House Republicans' proposal to require the central bank to adopt a formal, mathematical rule to guide its interest-rate decisions.
Just Whose Job Is It to Train Workers? Hu-Friedy, a maker of dental instruments, is paying workers to leave for two years as part of a company apprenticeship program. What's happening there is a rare exception to corporate disinvestment in training.
Economists Dim Growth Views Forget about escape velocity. The U.S. economy in 2014 is likely to record another disappointing year of growth, according to the latest Wall Street Journal survey of economists.
US Business News
As Cereal Slips, New Battle Over Breakfast Americans' shift to low-carb, high-protein foods has sapped sales for Kellogg and other cereal makers but could be a boon for McDonald's, Taco Bell and other fast-food chains.
For Apple, iPhone Roars and iPad Whimpers Apple reported a 13% jump in iPhone sales as it heads into a major refresh of the company's flagship product, but iPad sales slid for the second consecutive quarter.
Fox Mindful of Debt as It Eyes Time Warner Ever since his News Corp survived a bruising liquidity crisis in the early 1990s, Rupert Murdoch has been careful to avoid getting overextended financially. But his pursuit of Time Warner could test that philosophy.
Glaxo Reduces Earnings Forecast GlaxoSmithKline downgraded full-year earnings expectations, as its second-quarter profit was hit by currency moves, weak sales of its respiratory drugs and the continuing bribery investigation in China.