Business News

US Economy Grew Four Percent in Spring

Posted: 5:39 AM - After a dismal winter, the U.S. economy sprang back to life in the April-June quarter, growing at a fast 4 percent annual rate on the strength of higher consumer and business spending.

Chevron Overhaul Heads For Vote

Posted: 07/29/2014 - Chevron's five-year quest for approval of a $1 billion overhaul of its aging refinery in the San Francisco Bay Area city of Richmond is facing a decisive vote by city officials.

JPMorgan Paying $650K To Settle CFTC Charges

Posted: 07/29/2014 - JPMorgan Chase will pay $650,000 to settle charges from federal regulators of filing inaccurate reports on the trading positions of some of its large customers.

Aetna 2Q Profit Rises 2.4 Percent

Posted: 07/29/2014 - Aetna's second-quarter profit climbed more than 2 percent, as gains from an acquisition helped the health insurer top expectations and raise its 2014 earnings forecast again.

Ford Raising Prices On New F-150

Updated: 07/28/2014 - Ford is raising the price of its new aluminum-sided pickup truck, but still trying to stay competitive with rivals.

Judge OKs Record-Setting $2B Sale Of Clippers

Updated: 07/28/2014 - A judge has ruled against Los Angeles Clippers owner Donald Sterling and cleared the way for the $2 billion sale of the team to ex-Microsoft CEO Steve Ballmer.

Southwest Air Facing $12 Million Fine

Posted: 07/28/2014 - The government is proposing a $12 million civil fine against Southwest Airlines for failing to comply in three separate cases with safety regulations related to repairs on Boeing 737 jetliners.

FedEx To Challenge Online Pharmacies Debate

Posted: 07/26/2014 - FedEx Corp., the latest shipper to be accused in a federal probe involving illegal online pharmacies, says it will fight the charges that it knowingly shipped drugs to people who lack valid prescriptions.

More Business News

Economic News

  • U.S. Economy Grew 4.0% in 2nd Quarter
    The U.S. economy rebounded strongly this spring after a first-quarter contraction, eking out positive growth over the past six months and raising hopes for sustained growth in the second half of 2014.
  • Homeowner Program Faces Mounting Backlog
    The Obama administration's signature program to aid struggling homeowners has hit another speed bump: The mortgage companies processing applications can't keep up with demand.
  • Private Sector Slows Pace of Hiring
    U.S. businesses slowed their pace of hiring in July, according to an employment survey released Wednesday. The number of private-sector jobs created this month was fewer than economists expected.
  • Home-Price Growth Slows
    Home prices across the U.S. slowed sharply to a single-digit pace in May on a year-over-year basis, the slowest rate since February 2013, according to a home-price report.
  • Consumer Confidence Rises in U.S.
    Consumers turned more upbeat about the economy this month, according to a consumer confidence report. Better sentiment about job availability supports expectations for a good increase in July payrolls.
  • U.S. Pending Home Sales Slip
    The number of contracts signed to buy previously-owned homes slipped in June, a sign the housing recovery remains choppy despite a retreat in interest rates.
  • Federal Reserve's Rate Debate Looks Set to Heat Up
    Federal Reserve officials will likely move closer to ending their purchases of mortgage and Treasury bonds at a policy meeting next week and discuss when and how to raise interest rates.
  • U.S. Durable Orders Rebound in June
    Orders for big-ticket manufactured goods rebounded in June, a sign that capital investment by businesses could boost U.S. economic growth heading into the second half of the year. But shipments of core capital goods fell, prompting some economists to trim their forecasts of second-quarter growth.
  • New-Home Slowdown Pressures Recovery
    Demand for new homes slowed sharply during the first half, a development that threatens to reverberate beyond the housing market and throughout the broader economy.
  • Truce Brokers Consider How to Aid Gaza
    As the U.S. and its allies press for a halt to fighting in Gaza, they face a vexing question: how to rebuild the Palestinian territory and open its borders without posing a threat to Israel's security.

US Business News

  • In Prepaid Cards, Fortune Eludes the Famous
    Suze Orman, Magic Johnson and Lil Wayne are among the celebrities who have shuttered or scaled back prepaid-card ventures, as they struggle to compete with plain-vanilla cards issued by big banks.
  • In Video Age, Film Gets a Reprieve
    Faced with the possible extinction of the material that made Hollywood famous, a coalition of studios is close to a deal to keep Eastman Kodak in the business of producing movie film.
  • Twitter Silences Naysayers as Users, Revenue Surge
    Twitter quieted its doubters, at least for now, over its ability to jump-start shrinking user growth in the shadow of larger rival Facebook. The social-media company posted strong results across the board.
  • Waiting Game: Sprint, T-Mobile
    The slow progress in Sprint's pursuit of T-Mobile is in part tied to the public nature of the deal. With all the details out, there isn't as much pressure to make an announcement.
  • Total, Europe Inc. Weigh New Sanctions
    Total has stopped buying shares in Russian gas-producer Novatek while other European companies have expressed concern at the possible effects of the new sanctions on Russia.
  • EU, U.S. Expand Sanctions on Russia
    The European Union and the U.S. adopted broad economic sanctions against Russia to punish Moscow's unbending stance in the Ukraine conflict.
  • Fiat Profit Plunges on Weak Sales
    Fiat said profit plunged in the second quarter as weak results in Europe and Latin American together with a tax charge related to U.S. earnings wiped out improvements in Asia and an increase in sales of luxury models.
  • IRS Blesses Telecom's REIT Turn
    Windstream's plan to spin off some of its telecommunications assets into a real estate investment trust comes as more U.S. companies seek to lower their taxes.
  • Researchers Fret as Social Media Lift Veil on Drug Trials
    Drug makers and researchers are increasingly concerned that online chatter could unravel the carefully built construct of the "blind" clinical trial.
  • Benefit Costs Pare Humana's Profit
    Humana's second-quarter profit falls 18%, as expected, as increased benefit costs help to offset a jump in revenue.
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