NEW YORK – The latest on developments in financial markets (All times local): Continue Reading Below 9:35 a.m. Stocks are opening slightly lower on Wall Street, a day after setting their latest record highs. AT&T sank 3 percent in early trading Thursday after saying it was losing DirecTV subscribers. Cable […]
FOX Business News
Fewer people seek jobless aid as hurricane impact fades
WASHINGTON – Fewer people sought unemployment benefits last week as the impact of last month’s hurricanes on the U.S. economy fades. Continue Reading Below THE NUMBERS: Applications for U.S. unemployment aid fell 15,000 last week to a seasonally adjusted 243,000. Applications fell in Texas and Florida, where Hurricanes Harvey and […]
Investment banking gains drives Citi’s quarterly results
NEW YORK – Financial conglomerate Citigroup said its third-quarter profits increased 8 percent from a year earlier, helped by a boost in its investment banking division. Continue Reading Below Citigroup said it earned $4.13 billion, or $1.42 per share, compared with a profit of $3.84 billion, or $1.24 per share, […]
French President Macron launches Step 2 of labor reforms
PARIS – French President Emmanuel Macron is launching Step 2 of his labor law overhaul, focusing on unemployment benefits and job training. Continue Reading Below Macron met Thursday with France’s main workers’ and employers’ unions to start negotiations that will last for months. The discussions come as workers and unions […]
The Latest: UK urges to move Brexit talks on to trade
BRUSSELS – The Latest on the Brexit negotiations between the European Union and United Kingdom (all times local): Continue Reading Below 1:35 p.m. The pound is dropping after the European Union’s Brexit negotiator said that no significant progress has been made in talks with Britain. Michel Barnier said Thursday after […]
HSBC appoints new CEO to replace retiring Stuart Gulliver
LONDON – London-based bank HSBC says John Flint will be its new chief executive, replacing the retiring Stuart Gulliver. Continue Reading Below The bank said in statement Thursday that Flint, who currently heads up retail banking and wealth management, will take the job on Feb. 21. Chairman Mark Tucker says […]
Amazon dominates, Nike slips in teen shopping preference survey
An overwhelming number of teenage consumers say Amazon (AMZN) is their favorite website for shopping, according to the results of Piper Jaffray’s biannual survey released this week. Continue Reading Below The firm’s survey found 49% of teen shoppers identified Amazon as their favorite ecommerce outlet, up 6% from last spring. […]
U.S. House to vote on $36.5 billion disaster relief package
The U.S. House of Representatives is expected on Thursday to approve $36.5 billion in emergency relief for hurricane-hit areas such as Florida, Texas, Puerto Rico and the U.S. Virgin Islands, as well as California, struck by devastating wildfires. Continue Reading Below Included in the bill is $18.7 billion for the […]
Largest solar array in Maine is now fully operational
MADISON, Maine – Maine’s largest solar array is now fully operational as the final 25 percent of the 26,000-panel array was brought online this week. Continue Reading Below The final part of the farm in Madison was brought online Wednesday, and the array will generate enough electricity to power 700 […]
Plan to scrap state and local tax deduction hits resistance
WASHINGTON – President Donald Trump’s tax overhaul package is getting resistance from an unusual alliance of interests opposed to his plans to scrap the federal deduction for state and local taxes. Continue Reading Below Republican lawmakers from high-tax states such as New York, California and New Jersey, along with labor […]