Economy News

October 16, 2019

GM and union reach tentative deal that could end strike

Bargainers for General Motors and the United Auto Workers reached a tentative contract deal on Wednesday that could end a ...

October 16, 2019

Earthquake probed as possible cause of California fuel fire

Officials were trying to determine Wednesday if a 4.5 magnitude earthquake triggered an explosion at a fuel storage facility ...

October 16, 2019

Aging, thin pipe likely cause of Philadelphia refinery fire

An aging, failed elbow pipe appears to be the initial cause of a June 21 fire and subsequent explosions that injured five ...

October 16, 2019

US retail sales dip 0.3% in September

Retail sales dropped in September by the largest amount in seven months, possibly signaling that rising trade tensions and ...

October 16, 2019

Bank of America 3Q profits fall 19% due to charge

Bank of America's third quarter profits fell 19% from a year ago as the bank wrote down the value of its long-time joint ...

October 16, 2019

Global shares mixed as investors await more earnings

Global markets were mixed Wednesday as investors await another batch of earnings reports from U.S. companies and Brexit talks ...

October 16, 2019

Eurozone inflation revised down to near 3-year lows

Inflation in the 19-country eurozone was revised down in September to its lowest rate in nearly three years as energy prices ...

October 16, 2019

Asian shares rise after Wall Street gain on solid earnings

Asian shares were mostly higher Wednesday after a Wall Street rally driven by healthy earnings reports from U.S. companies.

October 16, 2019

Fuel storage tanks up in flames near San Francisco

A fire at an oil storage facility in the San Francisco Bay Area prompted a hazardous materials emergency Tuesday afternoon ...

October 16, 2019

The Latest: Pelosi says 'all roads seem to lead to Putin'

The Latest on President Donald Trump and the House impeachment inquiry (all times local): 8 p.m. House Speaker Nancy Pelosi ...

October 16, 2019

Intel to pay $5M to settle pay discrimination allegations

The Labor Department says it has reached a $5 million settlement with chip maker Intel Corp. over allegations of pay ...

October 15, 2019

Justices seem likely to uphold Puerto Rico oversight board

The Supreme Court seems likely to leave in place the oversight board established by Congress to help Puerto Rico out of a ...

October 15, 2019

End in sight? GM CEO Barra joins talks with striking union

General Motors CEO Mary Barra joined negotiators at the bargaining table, an indication that a deal may be near to end a ...

October 15, 2019

The Latest: Riot police break up unruly Barcelona protest

The Latest on Catalan protests and politics (all times local): 9:25 p.m. A line of riot police has charged a mass of ...

October 15, 2019

JPMorgan Chase 3Q profits up 8% but loan growth slows

JPMorgan's third-quarter profit grew 8% thanks to higher interest rates and strong performance at its investment banking ...

October 15, 2019

French firefighters protest working conditions, low pay

Thousands of French firefighters marched through Paris on Tuesday against low pay for a risky job in a protest that ended in ...

October 15, 2019

The Latest: Scottish party won't accept Brexit plans

The Latest on Brexit (all times local): 7:45 p.m. The leader of the independence-minded Scottish National Party says her ...

October 15, 2019

UnitedHealth hikes annual forecast, offers glimpse into 2020

UnitedHealth Group raised its 2019 forecast and detailed another better-than-expected quarter Tuesday, but shares soared ...

October 15, 2019

IMF welcomes attempt to resolve dispute in Ecuador

The International Monetary Fund said Tuesday it welcomes the decision by Ecuadorian President Lenín Moreno to cancel an ...

October 15, 2019

Higher 3Q profit, improved outlook for Johnson & Johnson

Johnson & Johnson's third-quarter profit jumped 23%, beating Wall Street forecasts, thanks to higher sales of its key ...