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.
- 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 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.
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.
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.