Business


WEDNESDAY, JULY 27, 2016

Federal Reserve Chair Janet Yellen testifies on Capitol Hill, June 22, 2016. (Manuel Balce Ceneta / Associated Press)

Fed keeps key interest rate steady but sees fewer risks

new WASHINGTON – The Federal Reserve is keeping interest rates unchanged while noting that near-term risks to the economy have diminished. The Fed said Wednesday that the U.S. job market has rebounded, with strong job gains in June after a slump in May. But it said in a statement after its latest policy meeting that it still plans to monitor global economic threats and financial developments to ensure that they don’t slow the economy.

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Feds to complete purchase of Maine blueberries

new PORTLAND, Maine – In the face of industry pressure, the federal government is spending up to $4.4 million to complete a plan to help Maine’s blueberry industry by buying surplus crop. The U.S. Department of Agriculture said in April it ...

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Boeing 7-series passenger airplanes sit parked in a lineup formation during an event marking the 100th Anniversary of the Boeing Co., July 15, 2016, in Seattle. (Ted S. Warren / Associated Press)

Boeing reports first quarterly loss in nearly 7 years

new NEW YORK – Boeing, absorbing billions in write-downs related to two of its newest commercial jets and a military fuel tanker, reported its first quarterly loss in nearly seven years. Yet revenue for the Chicago aerospace giant rose 1 percent ...

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Comcast profit slips due to fewer box-office hits

new NEW YORK – Comcast’s second-quarter profit slipped because of fewer movie hits from its NBCUniversal film-and-TV arm, but it posted big gains in internet customers and its smallest video losses for a second quarter in at least a decade. While the number of traditional TV customers overall have been slipping – down about 2 million customers over the past three years, according to research firm SNL Kagan – big cable companies Comcast and Charter have been seeing improving trends, winning customers from competitors like Dish and AT&T U-verse.

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Orders for durable goods plunged in June

new WASHINGTON – Orders to U.S. factories for long-lasting manufactured goods fell in June by the largest amount in nearly two years, reflecting a big decline in the volatile category of commercial aircraft and broad weakness across a number of other areas. The key category that tracks business investment eked out a small gain. Demand for durable goods dropped 4 percent in June, the biggest setback since an 18.4 percent drop in August 2014, the Commerce Department reported Wednesday. Excluding the volatile transportation area, orders would have still been down but by a smaller 0.5 percent.

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Pending US home sales improved slightly in June

new WASHINGTON – The number of Americans who signed contracts to buy homes crept up in June, a possible indication that the recent growth in real estate sales is still on track. The National Association of Realtors said Wednesday that its seasonally adjusted pending home sales index rose 0.2 percent last month to 111, regaining some ground after a dip in May. The index of upcoming sales improved 1 percent from a year ago, as buyer demand remains strong even though there are fewer properties being listed for sale.

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Fiat Chrysler raises outlook as Q2 profits jump 25 percent

new MILAN – Fiat Chrysler Automobiles on Wednesday raised its earnings forecasts after reporting a 25 percent increase in second-quarter profits as SUV and truck sales offset the impact of slumping demand for passenger cars in North America. The world’s seventh-largest carmaker, FCA said that net profit was 321 million euros ($352 million), compared with 257 million euros a year earlier. Last year’s second-quarter profits were restated to reflect the spin-off of Ferrari.

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Coca-Cola cuts sales outlook amid weak international demand

new ATLANTA – Coca-Cola trimmed its sales outlook for the year Wednesday, citing weakening demand in major international markets including China and part of South America. The world’s biggest soda maker said its global volume for the second quarter was flat from a year ago, dragged down by poor results in some areas outside the United States. The maker of Fanta, Sprite and Powerade said it sold more non-carbonated drinks, but less soda.

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TUESDAY, JULY 26, 2016




Anheuser-Busch InBev ups offer for SABMiller after Brexit pound slump

LONDON – Budweiser maker Anheuser-Busch InBev increased its cash offer for SABMiller to 45 pounds ($58.98) per share to blunt a revolt by investors who had seen the relative value of their payout plummet as the pound declined following Britain’s vote to leave the European Union. AB InBev on Tuesday sweetened its bid by one pound a share to appease smaller investors who complained that they were now receiving less for their shares than SABMiller’s two biggest shareholders, who were offered a cash-and-share deal. The new offer values the transaction at 79 billion pounds.

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Caterpillar 2Q results beat expectations, cuts 2016 profit outlook

Caterpillar’s second-quarter performance beat Wall Street’s expectations, despite weakness in the mining and oil and gas industries. But the company lowered its full-year adjusted profit guidance again, saying global economic growth remains subdued and isn’t sufficient to drive improvement in most of the industries and markets it serves.

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Verizon 2Q profit hurt by strike; revenue disappoints

NEW YORK – Verizon Communications said Tuesday that a strike by 40,000 employees hurt its results in the second quarter, and the company’s revenue fell short of analyst projections. The largest U.S. cellphone carrier’s profits were hurt by a series ...

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Home prices rise at steady pace as sales heat up

WASHINGTON – U.S. home prices extended their steady upward march in May, spurred by rising sales and a dwindling supply of available houses. The Standard & Poor’s CoreLogic Case-Shiller 20-city home price index increased 5.2 percent in May compared with ...

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The Dirt

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See the latest new construction, business openings and closures and progress on ongoing projects here.


Blogs

Hump Day Wild Card — 7.27.16

John Hearn, Coeur d'Alene school trustee and Democratic candidate for the House District 4B (Coeur d'Alene) seat, stopped by Casa Oliveria last even, with campaign worker Cindy Algeo. I showed ...


BLM closes Towell Falls road during fire season

PUBLIC LANDS -- Towell Falls Road in the U.S. Bureau of Land Management Spokane District’s Rock Creek management area has been closed to motorized traffic as a fire precaution, officials ...


Explosions in the freezer

Somewhere in the Spokane area, this is going to happen today. 1.) Someone will come inside his or her home, noting that it is hot out there. 2.) That person ...


Labrador, Crapo set meetings around state

1st District Congressman Raul Labrador has launched a “Conversations with the Congressman” tour that he says will hit all 19 counties in Idaho’s 1st Congressional District; he’s in Wallace at ...




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Saving for the future

sponsored According to two 2015 surveys, 62 percent of Americans do not have enough savings to handle an unexpected emergency, much less any long-term plans.


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