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The Spokesman-Review Newspaper

The Spokesman-Review Newspaper The Spokesman-Review

Spokane, Washington  Est. May 19, 1883
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Gap raises outlook after stronger 3rd quarter

NEW YORK (AP) — Gap Inc. raised its outlook for the year after reporting stronger third-quarter net income that beat Wall Street expectations on Thursday. The San Francisco-based clothing retailer said an uptick in sales at its Banana Republic, Old Navy and namesake stores helped lift its net income by 60 percent for the period. The performance is the latest sign that the company may be in turnaround mode, fueled by strong marketing and a revamping of its products.

Wal-Mart 3Q profit up but shares slide on outlook

NEW YORK (AP) — Wal-Mart reported a 9 percent increase in third-quarter net income as the world's largest retailer continues to woo back shoppers by reemphasizing low prices. But momentum has slowed as it grapples with an uncertain global economy. The Bentonville, Ark., discounter issued a fourth-quarter profit outlook that fell short of Wall Street expectations and shares slid nearly 5 percent in early trading. Revenue at stores open at least a year, a figure that measures growth in established stores, also disappointed.

Wal-Mart’s 3Q profit up 9 percent

NEW YORK (AP) — Wal-Mart Stores Inc. reported a 9 percent increase in third-quarter net income as the world's largest retailer continues to woo back shoppers by reemphasizing it has the lowest prices. But the company is seeing its momentum slow as it grapples with an uncertain global economy. The Bentonville, Ark.-based discounter issued a fourth-quarter profit outlook that was below analysts' forecast. It also reported that revenue at stores open at least a year, a figure that measures growth in established stores, fell short of Wall Street estimates.

Penney is the day’s biggest stock loser

NEW YORK (AP) — J.C. Penney Co. executives may be confident in the department-store chain's everyday low pricing strategy, but its investors are panicking. The company's stock fell more than 13 percent on Monday — the biggest percentage decline by far among big companies in the S&P 500 for the day. Penney stock lost nearly $3 on Monday to close at just under $18, its lowest price since March 2009 when the United States was in a recession.

Penney is biggest S&P stock loser

NEW YORK (AP) — J.C. Penney Co. executives may be confident in the department-store chain's everyday pricing strategy, but investors are panicking. The company's stock fell nearly 11 percent on Monday — the biggest percentage decline among big companies in the S&P 500 for the day. Penney stock now is trading at about $18, its lowest price since the middle of the recession in March 2009.

J.C. Penney reports hefty 3Q loss

NEW YORK (AP) — J.C. Penney Co. is hoping it has finally hit rock bottom. The bad news just keeps getting worse for the struggling department-store chain, which on Friday reported a wider third-quarter loss than Wall Street expected on a nearly 27-percent drop in revenue. That marks the third consecutive quarter of huge profit losses and steep sales declines as customers continue to show that they are not happy with its decision this year to ditch hundreds of coupons and annual sales in favor of everyday low pricing.

US Oct. jobs report likely to show modest hiring

WASHINGTON (AP) — The October employment report the government will release Friday will likely solidify the picture of the U.S. job market that's emerged this year: Companies are hiring steadily but cautiously. And unemployment remains high. Economists forecast that employers added 121,000 jobs in October, according to FactSet. That would be up slightly from September but below this year's average monthly gain of 146,000. And it's too weak a hiring pace to quickly reduce unemployment.

4th bankruptcy in Perry’s tech fund adds to losses

AUSTIN, Texas (AP) — A fourth Texas high-tech startup that received taxpayer money through Gov. Rick Perry's signature economic development fund has filed for bankruptcy, pushing the total losses in the $194 million portfolio beyond what the state says the fund has earned. The collapse of bioenergy producer Terrabon Inc., which was awarded $2.75 million in 2010 and was backed by large Perry political donors, raises the question of whether the state's Emerging Technology Fund that began in 2006 is now worth less than what taxpayers have put into it.

Auto sales, home prices help buoy weak US economy

WASHINGTON (AP) — The U.S. economy is looking more resilient, thanks in part to encouraging signs for the two most expensive purchases most Americans make: cars and homes. Cheap loans and a bounty of fuel-efficient models enticed people to buy new vehicles at a brisk pace last month. And the nation enjoyed another year-over-year surge in home prices in August — a sign that the housing industry is making a sustained comeback.

‘Homeland’ and ‘Modern Family’ win big at Emmys

The post-Emmy champagne surely tasted sweet for the people at "Modern Family" and "Homeland," but they needed only to look around the Nokia Theatre to see how quickly popular tastes and Hollywood's most unpredictable awards show can change perceptions. "Modern Family" continued its run as television's most honored comedy at Sunday's Emmys, winning the best comedy award for the third year in a row, a directing honor for co-creator Steve Levitan and acting trophies for Julie Bowen and Eric Stonestreet. They were already conscious that with such success may come an inevitable backlash.

Labor strife threatens American Airlines schedule

DALLAS (AP) — With American Airlines canceling dozens of flights every day, passengers with fall travel plans are confronting an inconvenient question: Should they avoid the nation's third-largest carrier because labor strife might cause delays and cancelations? Several prominent travel gurus say it's too early to "book away" from American. They say the number of canceled flights is still small and that American can find room on other planes for displaced passengers.

Getting There: Groups will study transit growth

A series of transit advisory groups will convene starting Wednesday to plan for future improvements on four major corridors in the Spokane region. The routes are: downtown to Liberty Lake via Spokane Valley; North Division Street to downtown; Five Mile Prairie to Moran Prairie; and Cheney to downtown.

Forecast of modest US job gains may not lift Obama

WASHINGTON (AP) — U.S. employers likely added jobs last month, though probably not enough to push down the unemployment rate. A tepid report Friday on hiring in August would provide little momentum to President Barack Obama's campaign a day after his speech to the Democratic convention. Analysts forecast that the economy generated 135,000 jobs last month and the unemployment rate remained 8.3 percent, according to a survey by FactSet. That's below the 163,000 jobs gained in July, but an improvement from meager hiring in the spring.

Roger Clemens acquitted on all charges

Roger Clemens has been acquitted on all charges by a jury that decided he didn’t lie to Congress when he denied using performance-enhancing drugs.

Spokane Transit to explain enhanced bus routes

Transit officials are stepping up their community discussion of creating a network of high-performing buses across the Spokane region. They said they want to hear from riders and other members of the public at an open house today.

Despite allegations, Armstrong wins again

Lance Armstrong licked ’em again. Always has. Always will. Like cancer and the Tour de France, the federal government turned out to be just another challenge to conquer. On his trophy wall, next to those bright yellow jerseys he got for winning the world’s toughest bike race seven times, Armstrong can now hang the scalp of steroid cop Jeff Novitzky.

Aerial silks classes teach suspended poses

There’s a new fitness class in Spokane Valley that’s taking exercise to new heights. In September, lifelong gymnast Sherrie Martin launched Spokane Aerial Performance Arts and began offering classes at Spokane Gymnastics. Aerial silks is a type of performance in which one or more artists execute acrobatics and tricks while hanging from two long pieces of soft fabric that are suspended from a single point.

Alligator Diesel Performance anticipates, meets customers’ needs

Alligator Diesel Performance in Coeur d’Alene increased its sales more than 1,200 percent over the past three years, enough to hit Inc. Magazine’s list of the country’s 500 fastest-growing private companies. But earnings reports alone do not tell Alligator’s story. This company’s success is about more than how to sell high-performance parts for light diesel trucks. Or how to manufacture them. Or how to install them, all of which Alligator does.