Business | page 5

TUESDAY, FEB. 2, 2016

In this  Dec. 30, 2015, photo, IRS forms 1095B and 1095C for employer provided health insurance or for use if a taxpayer got health insurance from the marketplace are displayed in Los Angeles. (Jae C. Hong / AP)

IRS phone service has left taxpayers on hold

The Internal Revenue Service, which saw its workforce dwindle steadily from 2010 to 2015, says a modest budget increase has left it better equipped to respond to the tens of millions of Americans expected to call with questions during the just-opened tax season.

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MONDAY, FEB. 1, 2016

Insurer Aetna lays out concerns about ACA exchange business

Aetna has joined other major health insurers in sounding a warning about the Affordable Care Act’s public insurance exchanges. The nation’s third-largest insurer said Monday that it has been struggling with customers who sign up for coverage outside the ACA’s annual enrollment window and then use a lot of care. This dumps claims on the insurer without providing enough premium revenue to counter those costs.

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Business in brief: Chinese finance businessman arrested on suspected $7.6 billion fraud

BEIJING – Police arrested the maverick founder of China’s largest online finance business on suspicion of fleecing 900,000 investors of $7.6 billion, in what could be the biggest financial fraud in Chinese history. State media outlets reported the arrest of Ding Ning and 20 of his employees late Sunday. State broadcaster CCTV aired purported confessions from two former employees at Ezubao, an Anhui province outfit that rose from obscurity to become China’s largest online financing platform in the span of about 18 months.

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U.S. stocks mostly lower; energy prices plunge

NEW YORK – Stocks closed mostly lower Monday after another steep drop in oil and natural gas prices pulled energy companies down. Prices for crude oil and natural gas each slumped about 6 percent Monday, the latest blow to the ...

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U.S. consumer spending flat, sending savings rate up

WASHINGTON – U.S. consumers kept their spending flat in December and instead boosted their savings rate to the highest level in three years. Consumer spending was unchanged in December after rising 0.5 percent in November, the Commerce Department reported Monday. ...

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In this Tuesday, Jan. 26, 2016, photo, construction cranes for high rise buildings are shown in downtown Miami. (Lynne Sladky / Associated Press)

U.S. construction spending hit 8-year-high in 2015

WASHINGTON – U.S. construction spending rebounded slightly in December, helping push total spending for 2015 to the highest level in eight years. Construction spending increased 0.1 percent in December after falling in October and November, the Commerce Department said Monday. ...

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SUNDAY, JAN. 31, 2016




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