All Latest News Wires
JPMorgan Chase CEO: banks 'under assault' from regulatorsJPMorgan Chase reported a 7 percent drop in profits Wednesday and faced $1.1 billion in additional legal costs. JPMorgan agreed in November to pay $1 billion in penalties over its conduct in foreign exchange markets. Investigations into that and other areas, including alleged manipulation of Libor interest rates, are continuing.
December retail sales tumble on gas prices, weak holiday spendingRetail sales took a sharp fall in December thanks to underwhelming holiday sales and low gas prices, according to the Commerce Department. Still, the fall in retail sales is probably not the start of a weak trend given lower gasoline prices and a firming labor market.
Mortgage applications just had their biggest spike in six yearsMortgage applications surged last week thanks to a sharp drop in interest rates and reduced costs. Mortgage application volume increased 49.1 percent from the previous week, according to the Mortgage Bankers Association.
Uber promises drivers won't be affected by price cuts in 48 citiesUber is implementing price cuts for customers in 48 US cities starting today. Uber drivers have protested previous price cuts, but the rideshare company says it will guarantee that this time, drivers' earnings won't suffer.
GM CEO Barra looks ahead after 'troubling' yearGeneral Motors CEO Mary Barra says the automaker is 'moving forward' after a year full of scandal and embarrassing missteps. Despite an ignition switch defect linked to a recall of 2.6 million cars and linked to several deaths, GM sales climbed 5.6 percent in 2014.
Health insurance prices slow, but workers still feel the pinchHealth insurance premium prices have slowed in most of the US, but that hasn't translated to relief for the people covered by those plans, according to a new study. Health insurance prices still grew faster than incomes in nearly every state.
Jobless claims fall by 4,000 as firms keep holiday workersJobless claims filed by US workers slipped by 4,000 to a seasonally adjusted 294,000 for the week ended Jan. 3, the Labor Department said on Thursday. Week-by-week jobless claims numbers have been volatile, but the trend has been consistent with a strengthening job market.
Oil price plunge means layoffs for US steel workersUnited States Steel Corp said it would temporarily idle its pipe manufacturing plant in Lorain, Ohio and lay off 614 workers, largely due to weak demand from the oil industry. A number of North American oil and gas companies have cut capital spending plans following a sharp fall in oil prices.
ADP: US firms boosted hiring to 241K jobs in DecemberADP says that US companies ramped up hiring in December, adding 241,000 jobs – up from 227,000 in November. The ADP report suggests Friday's government report on December job gains will also be healthy.
Coach, looking to transform brand, buys Stuart Weitzman for $530MCoach (COH) the luxury handbag company, is buying Stuart Weitzman Holdings for about $530 million, expanding its footwear collection. Coach (COH) is in the midst of transforming its brand, working to reduce the level of its promotions and changing product offerings.
Dow plunges 331 points on oil's $50 per barrel slideStocks took a tumble Monday, with energy companies leading the decline as crude dipped below $50 a barrel. The Dow Jones industrial average lost 331 points, or 1.9 percent, to 17,501. It was down as much as 357 earlier.
Euro hits nine-year low versus US dollar on manufacturing, oil-price slumpThe euro fell to as low as $1.18605, its weakest level since March 2006, having fallen below an important support at $1.20.
Low gas prices, interest rates push auto sales to 2014 recordsNissan and Honda reported auto sales gains last month, pushing both Japanese automakers to record numbers for 2014. Nissan's auto sales grew 11 percent for the year to 1.39 million to set an annual record for the company. Honda says its sales rose 1 percent for the year to 1.54 million cars and trucks.
LGBT-owned businesses get diversity boostCalifornia just passed a law, first of its kind, requiring utility companies to target gay-owned companies in their procurement efforts.
Where's the beef? New federal diet guidelines may recommend less meatNew recommendation suggest eating smart for the planet, as well as health. In other words, more fruits, veggies, nuts, and whole grains — and less meat.
Tesla Roadster upgrade: Electric car will go about 400 miles per chargeThe Palo Alto, Calif., company said that a new battery, new tires, and other improvements will boost the car's range 40 to 50 percent compared to the original.
Consumer confidence rises in DecemberConsumers have plenty of reasons to feel better. The economy grew from July through September at a 5 percent annual rate, fastest clip in 11 years.
Wall Street quietly breaks more recordsDespite low trading volumes, major indexes broke records for a second straight weekly advance as all sectors posted gains.
After-Christmas sales: Can they boost this year's sales slump?After-Christmas sales and other deep discounts are driving clothing and consumer electronics sales, which are high in number but showing thin profits, say experts. Unless after-Christmas sales do better than expected, US retailers will struggle to meet annual sales forecasts.
Unemployment stays low: 2014 was the best year for new jobs since 1999Applications for unemployment benefits, used by experts as a proxy for layoffs, have fallen to a 7-week low, while new hires are up.
