Thanks to solid job creation, Americans spent more at retailers in February despite smaller paychecks. The surprisingly strong increase helped allay fears that higher Social Security taxes and gasoline prices might chill spending early this year.
The word from J.C. Penney's Chief Financial Officer Ken Hannah: Neither he nor CEO Ron Johnson has intentions of resigning, despite a growing chorus of critics calling for a management shake-up as they lose faith in a turnaround strategy.
Stocks rose, sending the Dow Jones Industrial Average to its longest rally since 1996, as data showing retail sales increased in February by the most in five months bolstered optimism in the world’s largest economy.
The Federal Reserve is changing its schedule for issuing policy statements, a shift that will give Chairman Ben Bernanke an opportunity to better control the message it sends to financial markets.
Jorge Bergoglio of Argentina was elected pope Wednesday, becoming the first pontiff from the Americas and the first from outside Europe in more than a millennium. He chose the name Francis, associating himself with the humble 13th-century Italian preacher who lived a life of poverty.
There are three jobs open at Rodon Group, a plastic parts manufacturer near Philadelphia. But despite the reports of a shortage of skilled workers nationwide, CEO Michael Araten isn't sweating it.
VMware Inc. rose the most in eight months after Chief Executive Officer Pat Gelsinger forecast accelerating revenue growth, easing investor concern that he’s not moving swiftly enough into new businesses.
Andy Rubin has stepped down as the executive in charge of Google's Android operating system for smartphones and tablet computers, ending a seven-year reign that reshaped the technology industry.
March 13 (Bloomberg) -- President Barack Obama gathered chief executives from energy, finance and technology companies to emphasize the threat posed by criminal and state-sponsored hackers, which the administration regards as one of the nation’s main security challenges.
The pursuit of hackers who audaciously stole and published credit reports for Michelle Obama, the attorney general, FBI director and other U.S. politicians and celebrities crisscrossed continents and included a San Francisco-based Internet company, Cloudflare, The Associated Press has learned.
West Texas Intermediate was little changed after an Energy Information Administration report showed that U.S. inventories climbed to a seasonal high. WTI’s discount to Brent narrowed to the lowest level in six weeks.
Henrik Fisker, the auto designer who co-founded luxury plug-in hybrid manufacturer Fisker Automotive Inc., said he’s resigning over disagreements with the company’s other executives.
Senate Democrats unveiled a largely stand-pat budget Wednesday that calls for $1 trillion in new tax revenues over the coming decade but actually increases spending, while protecting the party's domestic policy priorities and adding $4 trillion more to the national debt than a slashing alternative from House Republicans.
McDonald's is rolling out a yolk-free version of its Egg McMuffin this spring.
Bank of America Corp., the second- largest U.S. lender, cut an appraisal unit’s staff by about 5 percent last month as the firm rid itself of overdue mortgages, said two people with knowledge of the move.
The Dow Jones industrial average notched its ninth gain in a row, giving the index its longest winning streak in more than sixteen years.
The discovery of a group of servers linked to an elusive espionage campaign is providing new details about a high-tech piece of spy software that some fear may be targeting dissidents living under oppressive regimes.
Mortgage applications in the United States dropped last week as higher mortgage rates prompted a decline in refinancing and home purchases.
Homeowners with underwater mortgages in U.S. states worst-hit by foreclosures are leading refinancings after the government expanded programs to aid borrowers, strengthening the weakest link in the housing recovery.
Michelle Obama challenged America's top CEOs on Wednesday to “think outside the box” and hire more veterans.
To get somewhere in this circular debate over women and work, we need to get three women in the same room: Anne-Marie Slaughter, Marissa Mayer and Sheryl Sandberg.
Paul Ryan believes the United States has a looming inflation problem. The reality is that Ryan has an economic credibility problem.
March 12 (Bloomberg) -- The idea that we should reform the way we handle allegations of medical malpractice is enjoying a new vogue.
March 13 (Bloomberg) -- Sales at U.S. retailers rose in February by the most in five months as an improved job market and stronger household finances cushioned the effect of higher payroll taxes.
March 13 (Bloomberg) -- The cost of goods imported into the U.S. climbed in February by the most in six months, reflecting a jump in energy expenses that is now receding.
Investors are calling an end to the past week's remarkable rally, with many cashing in on stocks Wednesday despite more strong economic data out of the U.S.
The finance ministers of the 17 euro countries will hold a special meeting this week to discuss a much-delayed bailout package for Cyprus, but differences remain over its overall size.
March 14 (Bloomberg) -- Haruhiko Kuroda’s pledge to end deflation in two years is bolstering appetite for real-estate assets, lifting debt sales by developers to a three-year high.
March 13 (Bloomberg) -- The Obama administration will ask the U.S. Supreme Court to reverse a ruling by a three-judge panel that the president violated the Constitution by making appointments to the federal labor board without Senate approval.
Netflix is adding a feature that will allow the Internet video service's 27 million subscribers in the U.S. to automatically swap movie and TV show recommendations with their social circles on Facebook.
Kevin DeSanctis, the man who guided Atlantic City's Revel casino-hotel through its tortuous development, only to see it struggle amid the cutthroat East Coast gambling market, is stepping down as head of the $2.4 billion resort.
March 13 (Bloomberg) -- Henrik Fisker, the auto designer who co-founded luxury plug-in hybrid manufacturer Fisker Automotive Inc., said he’s resigning over disagreements with the company’s other executives.
March 13 (Bloomberg) -- Hostess Brands Inc. Chief Executive Officer Greg Rayburn said Flowers Foods Inc.’s bid to buy most of the bankrupt baking company’s bread brands is going through U.S. Justice Department review.
Amazon says it is cutting the price of its Kindle Fire HD with the 8.9-inch screen in the U.S.
March 13 (Bloomberg) -- Governors who refuse to expand their Medicaid programs for the poor may cost employers in their states as much as $1.3 billion in federal fines, a study found.
March 13 (Bloomberg) -- The leader of a ring of waiters who copied customer credit cards at steakhouses including Smith & Wollensky and the Capital Grille so accomplices could buy luxury goods was sentenced to as much as 13 1/2 years in prison.
The price of oil was little changed Wednesday as rising U.S. supplies offset a strong report on U.S. consumer spending that pointed to growing demand for oil and gas in a strengthening economy.
March 13 (Bloomberg) -- Netflix Inc., the online video service, began offering U.S. subscribers the ability to peer into each others’ digital movie libraries through an expanded partnership with Facebook Inc.
March 13 (Bloomberg) -- J.C. Penney Co. aims to reverse its “huge miss” with core customers last year by expanding private-label lines such as St. John’s Bay and reviving promotions, said Chief Financial Officer Ken Hannah.
Hot Topic Inc.'s fourth-quarter profit jumped more than 30 percent on better sales at its teen clothing stores.
Target Corp. has added two new members to its board of directors.
March 13 (Bloomberg) -- Google Inc. is changing the leadership of the unit at the heart of its mobile-technology war with Apple Inc., saying Sundar Pichai will succeed Andy Rubin at the helm of the Android software business.
Green Mountain Coffee Roasters Inc. said Wednesday that it will cut 74 full-time positions from its workforce at two facilities in California and Ontario.
March 13 (Bloomberg) -- Barnes & Noble Inc., the biggest U.S. bookstore chain, lost its bid for a federal judge to dismiss some claims it infringed Alcatel-Lucent patents related to Internet commerce.
March 14 (Bloomberg) -- Beyond the polished Fiats and Fords parked at the Oto Center in a remote working class district of Istanbul, traders tout an investment vehicle that has tripled in value over the last nine years: license plates for taxis that fetch about 1.05 million liras ($580,000).
Ed Moss, the president and chief executive officer of The Denver Post, is resigning effective April 1.
Prices paid by U.S. importers rose in February for the second straight month, pushed up by higher oil prices.
March 13 (Bloomberg) -- The yen erased gains against the dollar after a report showed U.S. retail sales in February exceeded forecasts.
German Chancellor Angela Merkel's Cabinet has approved a draft budget plan that foresees the government getting by without new borrowing in 2015.
Hedge fund manager William Ackman is applauding a consumer group's push for the Federal Trade Commission to investigate whether Herbalife is a pyramid scheme.
March 13 (Bloomberg) -- California took orders from individual investors for almost a third of $2.2 billion of general-obligation bonds in the first day they were offered, with a preliminary yield of 2.54 percent on 10-year securities, the treasurer’s office said.
March 13 (Bloomberg) -- Lloyds Banking Group Plc, the U.K.’s biggest mortgage lender, said it’s cutting 550 jobs in its insurance, risk, consumer and corporate banking businesses.
The National Archives is reducing its public operating hours due to automatic federal budget cuts taking effect.
Ninety-one percent of people living in Asia have improved access to clean water, a remarkable achievement over the last two decades in the world's most populous region. But its richest countries and wealthiest citizens likely have better water supplies and governments better prepared for natural disasters.
U.S. companies increased their restocking in January from December, an encouraging signal that they expect consumers will spend more this year and help the economy grow faster.
An independent panel said Wednesday that the operator of Japan's tsunami-crippled nuclear plant misinformed investigators and blocked an inspection of key equipment last year, but that it was not part of a cover-up.
Chief executives at the largest U.S. companies are much more optimistic about their sales prospects than they were three months ago, though many remain cautious about hiring.
A KeyBanc analyst lowered his rating on Hasbro Inc. on Wednesday, citing the difficulties the toymaker could face in making its business grow in the year ahead.
March 13 (Bloomberg) -- Wall Street banks are selling commercial-mortgage bonds linked to single borrowers at a record pace, enabling U.S. landlords to pay off debt on properties from Wilshire Boulevard in Los Angeles to central Florida.
Kayak Software Corp. and priceline.com Inc. said Wednesday that UK regulators are reviewing a pending deal between the two online travel companies.
The U.S. Department of Agriculture's statistical arm says it won't issue some agricultural reports this year because of the automatic federal budget cuts taking effect.
Samsung Electronics is taking to the Big Apple to reveal its next big challenge to Apple Inc.: a successor to its top-selling Galaxy S III smartphone.
North Korea's first public, senior-level mention of South Korea's first female president ended up being a sexist crack. The body that controls North Korea's military complained Wednesday about the “venomous swish” of her skirt.
A government legal agency representing Egypt's Islamist President Mohammed Morsi appealed on Wednesday the court-ordered suspension of a controversial parliamentary election, a judicial official said. The appeal comes after an earlier pledge by Morsi's office not to challenge the verdict.
A 53-year-old former champion won the Iditarod Trail Sled Dog Race to become the oldest winner of Alaska's grueling test of endurance.
Democrats will retain their two-thirds majority in the state Senate while temporarily keeping their narrow supermajority in the Assembly after Democratic candidates advanced in two special elections Tuesday.
March 13 (Bloomberg) -- The U.S. budget deficit narrowed 12 percent last month from a year earlier as Congress and President Barack Obama allowed payroll taxes to increase and individual refunds fell.
With their Ivy League pedigrees and East Coast addresses, Supreme Court justices often are rightly described as unrepresentative of the nation. But in one area, the justices look a lot like the rest of America.
House Democratic Leader Nancy Pelosi, former First Lady Betty Ford and horse racing's leading female jockey, Julie Krone, are among this year's inductees into the National Women's Hall of Fame.
Mary Han was a successful civil rights attorney who for decades battled over the rights of abused women, accused prostitutes and the homeless. In the close-knit Albuquerque legal community, she was known as a spitfire whose fervor was often directed at one entity in particular: The city's troubled police department.
making him the first pontiff from the Americas.