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Fed chief urges banks to nurture low-income areas' growth

posted: 03/29/2017 2:05 a.m. Discuss

Federal Reserve Chairman Janet Yellen said Tuesday that U.S. banks must do all they can to promote economic development in low-income areas where high unemployment has persisted despite the overall job market's significant gains.

Chinese firm's 5% buy-in bolsters Tesla

posted: 03/29/2017 2:04 a.m. Discuss

Tesla won a vote of confidence from Chinese Internet giant Tencent Holdings, whose purchase of a 5 percent stake strengthens Elon Musk's plan to offer his mass-market Model 3 electric sedan to buyers this year.

No-frills carrier Frontier Airlines to seek IPO in second quarter

posted: 03/29/2017 2:03 a.m. Discuss

Frontier Airlines Inc., the no-frills U.S. carrier whose aircraft feature animals on the tails, is aiming to go public as soon as the second quarter, people with knowledge of the matter said.

Internet providers OK $1.5B merger

posted: 03/29/2017 2:02 a.m. Discuss

Shareholders of telecommunications companies Consolidated Communications and FairPoint Communications voted Tuesday to approve a proposed merger.

U.S. gives Wells Fargo failing grade

posted: 03/29/2017 2:02 a.m. Discuss

In the latest blow to Wells Fargo's efforts to rebuild its reputation after months of turmoil, the bank on Tuesday received a failing score on community lending from its federal regulator.

Market report: Stocks rise, end Dow's 8-day skid

posted: 03/29/2017 2:01 a.m. Discuss

Banks and other financial companies led U.S. stock indexes sharply higher Tuesday, snapping an eight-day losing streak for the Dow Jones industrial average.

Business news in brief

updated: 03/29/2017 2:01 a.m. Discuss

Amazon employees test grocery pickup

News in brief

updated: 03/29/2017 2 a.m. Discuss

Survey foresees rise in Easter spending

U.S. home prices rose in January by most in 2½ years

posted: 03/28/2017 11:17 a.m. Discuss

WASHINGTON — U.S. home prices jumped in January from a year earlier at the fastest pace in nearly 2½ years, as a tight supply of houses for sale spurred bidding wars in many cities.

Home BancShares to buy Florida bank

posted: 03/28/2017 4:30 a.m. Discuss

Home BancShares, owner of Centennial Bank branches in four states, announced plans Monday to purchase Stonegate Bank of Pompano Beach, Fla.

During oil bust, drilling changed

posted: 03/28/2017 2:04 a.m. Discuss

DALLAS -- The oil industry's history is punctuated with boom-and-bust cycles that create and erase fortunes and drive economies.

7 oil nations say keep supply cuts

posted: 03/28/2017 2:02 a.m. Discuss

Oil producers meeting over the weekend in Kuwait pledged to consider extending their pact limiting supply, as a half-dozen nations said more time was needed to drain swollen stockpiles.

Even with tax cuts, economists predict modest GDP gains

posted: 03/28/2017 2:02 a.m. Discuss

WASHINGTON -- U.S. economic growth is expected to accelerate this year and next, yet remain modest, even if President Donald Trump's promised tax cuts and infrastructure spending are implemented, a survey found.

Used-car slump hammers Hertz

posted: 03/28/2017 2 a.m. Discuss

As investor worry spreads about the plunging prices of used cars in the U.S., Hertz Global Holdings Inc. and its high-profile top investor, Carl Icahn, are enduring the biggest beating.

Market report: Stocks tumble early, climb back

posted: 03/28/2017 1:59 a.m. Discuss

NEW YORK -- Worries that Washington may not be able to help businesses as much as once thought knocked stock indexes down hard early Monday, but they clawed back most of their losses and ended the day mixed.

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