Stories tagged: economy
Fri., Oct. 28, 2016, 12:41 p.m.
Exxon 3Q profit falls 38 percent on lower oil prices
Exxon’s profit keeps shrinking because of lower oil prices, and the company is responding by sharply cutting investment in future production.
Fri., Oct. 28, 2016, 11:56 a.m.
Venezuelans step up pressure on Maduro with 12-hour strike
Some stores and schools were closed and rush-hour traffic was noticeably lighter Friday as many residents in Venezuela’s capital stayed home to express their outrage at President Nicolas Maduro.
Fri., Oct. 28, 2016, 11:39 a.m.
Consumer sentiment matches lowest reading since 2014
Consumer confidence dropped more than previously reported to match the lowest level since 2014, with Americans less upbeat about both current and future conditions in the weeks before the presidential …
Fri., Oct. 28, 2016, 11:35 a.m.
VW sees electric car shift costing thousands of jobs
Volkswagen’s personnel chief has been quoted as telling a German newspaper that the transition to electric cars will ultimately cost a “five-digit number” of jobs at the company.
Thu., Oct. 27, 2016, 6:29 p.m.
Amazon’s profit triples to $252 million, but that’s not enough for Wall Street
Amazon.com rang up a $252 million profit in the third quarter, more than three times the $79 million it reported a year ago, as it cashed in on blistering growth …
Thu., Oct. 27, 2016, 5:24 p.m.
OPEC can’t succeed alone, as cuts would barely drain surplus
Even if OPEC defies a skeptical market by implementing output cuts in full, it still won’t drain the ocean of surplus oil already pumped from the ground.
Thu., Oct. 27, 2016, 1:46 p.m.
UPS order gives huge boost to Boeing 747
UPS announced it has ordered 14 Boeing 747-8 cargo freighters and took an option for another 14.
Wed., Oct. 26, 2016, 12:15 p.m.
U.S. abstains in U.N. vote on Cuba embargo for the first time
The United States abstained for the first time in 25 years Wednesday on a U.N. resolution condemning America’s economic embargo against Cuba, a measure it had always vehemently opposed.
Wed., Oct. 26, 2016, 11:31 a.m.
Boeing has a banner 3Q and sees more of the same ahead
Boeing’s third-quarter profit rose 34 percent on lower taxes, and the company raised its forecast for 2016 earnings, revenue and airplane deliveries.
Tue., Oct. 25, 2016, 2:59 p.m.
Beer run! Uber’s self-driving truck makes its first commercial delivery
The first commercial shipment by a self-driving truck was a beer run. Uber Technologies Inc.’s self-driving trucking unit, Otto, said Tuesday it partnered with brewing giant Anheuser-Busch Cos. to carry …
Tue., Oct. 25, 2016, 2:48 p.m.
Pharmaceutical industry gearing up to defend drug prices
The skyrocketing costs of prescription drugs has been noticeably absent from discussion in the presidential debates – even as bipartisan anger about price gouging has united Congress. But the trade …
Tue., Oct. 25, 2016, 10:33 a.m.
Wells Fargo’s ad campaign addresses sales scandal
Wells Fargo launched a new advertising campaign this week to address the company’s ongoing sales practices scandal and what it is doing to make things right for its customers.
Mon., Oct. 24, 2016, 3:02 p.m.
EU, Canadian leaders say free trade deal still possible
The European Union and Canada tried to remain upbeat Monday about the prospects for their trans-Atlantic free trade pact despite a small Belgian region persisting in its refusal to back …
Mon., Oct. 24, 2016, 1:57 p.m.
TD Ameritrade to buy Scottrade in $4B cash-and-stock deal
Online brokerage TD Ameritrade is buying Scottrade in a $4 billion cash-and-stock deal that would significantly expand its branch network at a time when many financial firms are expanding automated …
Sun., Oct. 23, 2016, 11 a.m.
Belgium urged to break EU-Canada trade deadlock by Monday
Sources say that if Belgium cannot break a deadlock over the European Union’s landmark free deal with Canada by Monday night, EU leaders will consider canceling a signing ceremony scheduled …
Sat., Oct. 22, 2016, 8:28 a.m.
Inside the iHome: Apple helps builders pitch gizmo-packed houses
In a darkened master bedroom, David Kaiserman stood in shirtsleeves next to a turned-down king bed. “Good morning, Siri,” he said to the iPad in his hand, and the lights …
Sat., Oct. 22, 2016, 7:58 a.m.
Top EU lawmaker intervenes to try to save Canada trade pact
The Belgian region of Wallonia affirmed Saturday it still stands in the way of a trade deal between the 28-nation European Union and Canada, but its leader and a top …
Sat., Oct. 22, 2016, 7:58 a.m.
Boeing warns 180 employees of pending layoffs
Boeing issued advance layoff notices Friday to 180 employees companywide. The layoffs are to take effect in mid-December, just ahead of the Christmas break at Boeing.
Fri., Oct. 21, 2016, 12:52 p.m.
Tesla may enter ride-hailing business next year
Electric car maker Tesla Motors has plans to get into the ride-hailing and sharing businesses. The company hinted at the venture earlier this week when it announced that all of …
Fri., Oct. 21, 2016, 12:50 p.m.
Seattle skyline tops in U.S. for construction cranes
Seattle is – for the moment, at least – the crane capital of America. As the city transforms with taller and taller buildings, Seattle this summer had 58 construction cranes …
Fri., Oct. 21, 2016, 10:04 a.m.
Bombardier to cut 7,500 jobs globally over the next 2 years
Airplane maker Bombardier says it is cutting 7,500 jobs around the world over the next two years.
Thu., Oct. 20, 2016, 3:35 p.m.
Philippine president parts from U.S., moves toward China
Philippine President Rodrigo Duterte announced that his country is separating from the U.S. in a speech before a Beijing economic forum on Thursday, after handing China a major diplomatic victory, …
Thu., Oct. 20, 2016, 3:34 p.m.
Bank places 100 ‘lucky pennies’ across U.S. worth $1,000 each
Stopping to pick up a stray penny off the ground may not seem worth the effort, yet one bank is trying to change that mindset by placing 100 fake pennies …
Thu., Oct. 20, 2016, 2:50 p.m.
Wal-Mart’s China revival strategy calls for deliveries, some by drones, in hours
Wal-Mart Stores has hit the reset button on its China strategy in dramatic fashion. The world’s largest retailer is making an ambitious push into e-commerce in China and aims to …
Thu., Oct. 20, 2016, 2:46 p.m.
Mortgage rates reach their highest levels in four months
Mortgage rates climbed to their highest point in four months this week, rising to pre-Brexit levels.
Thu., Oct. 20, 2016, 2:38 p.m.
Nintendo combines portable and home gaming with Switch
Nintendo has announced a new gaming system that combines a portable handheld device with a dock to use at home.
Wed., Oct. 19, 2016, 12:26 p.m.
Starbucks plans to double stores in China in 5 years
Starbucks is pushing ahead with its expansion into mainland China, saying Wednesday it’s on track to have 5,000 stores by 2021, more than doubling the number of its coffee shops …
Wed., Oct. 19, 2016, 7:04 a.m.
Indian tribes may be sovereign, but their casinos remain subject to federal scrutiny
A California-based tribe’s recent loss at the National Labor Relations Board could reignite interest in controversial legislation affecting Indian casinos and union workers nationwide.
Wed., Oct. 19, 2016, 6 a.m.
This number is a misleading sign of U.S. labor-market strength
The fewest Americans in 42 years are filing applications for unemployment insurance, which on the surface looks like a sign of a historically hot U.S. labor market. The real picture …
Tue., Oct. 18, 2016, 2:59 p.m.
More first-timers than expected are now buying homes, survey indicates
First-time buyers may be entering the U.S. home market in greater numbers than industry watchers had assumed.