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Economy News

Michael Gagliano, Andrew Silverman

Stocks extend losses as railroads sink industrial companies

U.S. stocks extended their losses into a second day on Wednesday as railroad operator CSX had its biggest drop in 11 years, ...

UK leader May slams populist politics, Brexit 'absolutism'

British Prime Minister Theresa May on Wednesday criticized the increasing intolerance and absolutism of world politics, a ...

US home construction slips 0.9% to 1.25 million in June

U.S. home construction slipped last month as an uptick in the building of single-family homes was offset by a big drop in ...

Bank of America earns $7.4B in 2Q, beating estimates

Bank of America's second-quarter profits rose by 8% from a year earlier, the company said Wednesday, as the consumer banking ...

Asian stocks mixed as Wall Street ends 5-day winning streak

Asian stocks were mixed Wednesday after Wall Street ended a five-day winning streak following disappointing corporate ...

Feds: Microsoft worker stole millions in digital currency

A former Microsoft worker has been charged in what investigators describe as a scheme to steal $10 million in digital ...

Despite grounding of Boeing plane, United 2Q profit rises

United Airlines glided through the first part of summer, as strong travel demand pushed average fares higher, but the ...

Phony Ferraris, 'Shamborghinis' seized at Brazil factory

Brazilian police say they've shut down a clandestine factory that was producing fake Ferraris and sham Lamborghinis. A father ...

Wells Fargo 2Q results beat Street estimates

Wells Fargo reported better-than-expected earnings despite lower interest income in the second quarter, a potential concern ...

CSX 2Q profit down 1% on weaker volume

CSX second-quarter profit slipped 1%, falling short of what Wall Street expected as the railroad hauled 4% less freight.

Barneys New York evaluating restructuring options

Barneys New York may soon join the ever lengthening list of retail stores seeking protection in bankruptcy. The luxury ...

Paul Njoroge

6 minutes: Man haunted by family's final moments on 737 Max

When Paul Njoroge gets on an airplane, he becomes fixated on the first few minutes after takeoff. "I have to look at my watch ...

US industrial production unchanged in June

U.S. industrial production was flat in June, as a slump in utilities was offset by gains in output by factories and mining.

Johnson & Johnson 2Q profit jumps 42% despite lower sales

Johnson & Johnson posted slightly lower sales across much of its business in the second quarter, but a big one-time gain and ...

Boeing jet trouble leads to cuts at Europe's busiest airline

Europe's biggest airline, budget carrier Ryanair, will cut flights and close some of its bases beginning this winter because ...

US retail sales rise 0.4% in June in sign of consumer health

U.S. retail sales rose at a solid pace last month, providing crucial support to the economy at a time when other drivers of ...

JPMorgan Chase posts $9.7 billion profit, beating estimates

Banking giant JPMorgan Chase & Co. said Tuesday that its second quarter profits grew by 16% from a year ago, helped by lower ...

Goldman Sachs 2Q profit declines 6%, but beats estimates

Goldman Sachs said its second quarter profit fell 6% from a year earlier, as the Wall Street firm saw declines across most ...

Turkey says ship attacked off Nigeria, 10 crew kidnapped

Turkey's state-run news agency says an armed gang has attacked a Turkish cargo ship off the coast of Nigeria and kidnapped ...

China asks for 'friendly consultation' in Malaysia dispute

China's government expressed hope Tuesday that Malaysia's dispute with a state-owned Chinese company building two ...

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