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Sales up 3.7% for new U.S. housing

posted: 02/25/2017 2:07 a.m. Discuss

WASHINGTON -- Americans bought more new homes in January after a steep fall-off the previous month, a sign the housing market is healthy despite higher mortgage rates.

Penney to close at least 130 stores

posted: 02/25/2017 2:07 a.m. Discuss

DALLAS -- J.C. Penney Co. said Friday that it will close 130 to 140 stores as well as two distribution centers over the next several months as it tries to improve profitability, joining its department store rivals in pruning store numbers because of online shopping.

Insured Rx buyers' copay at times more than drug's real cost

posted: 02/25/2017 2:06 a.m. Discuss

Eric Pusey has to bite his tongue when customers at his pharmacy make copayments far higher than the cost of their low-cost generic drugs, thinking their insurance is getting them a good deal.

Down 10,000 jobs in '16, AIG says

posted: 02/25/2017 2:05 a.m. Discuss

American International Group Inc.'s head count fell by 10,000 last year as Chief Executive Officer Peter Hancock sold units and cut jobs.

Some VW owners waiting on settlement buyback offer

posted: 02/25/2017 2:05 a.m. Discuss

LOS ANGELES -- Some Volkswagen owners say they're still waiting to complete their buybacks, almost four months after a judge approved a settlement for 2-liter diesel vehicles that were part of the automaker's emissions scandal.

J.C. Penney to close 130 to 140 stores; no word on whether Arkansas stores affected

posted: 02/24/2017 9:49 a.m. Comment 1

NEW YORK — J.C. Penney said Friday that it will be closing anywhere from 130 to 140 stores as well as two distribution centers over the next several months as it aims to improve profitability in the era of online shopping.

State's in mix at energy meeting

posted: 02/24/2017 1:48 a.m. Discuss

Arkansas Gov. Asa Hutchinson is meeting with fellow governors in Washington, D.C., this week for what's being called the Governor's Summit on Energy Security and Infrastructure.

Boeing's F/A-18 fighter hangs on

posted: 02/24/2017 1:47 a.m. Discuss

Boeing's Super Hornet is poised for a surprising comeback thanks to President Donald Trump's Twitter broadsides and a strike-fighter shortage caused by delays to Lockheed Martin Corp.'s F-35 program.

Federal court ruling on mortgage giants likely to slow revamp

updated: 02/24/2017 1:47 a.m. Discuss

U.S. Treasury Secretary Steven Mnuchin's seriousness about overhauling the nation's $10 trillion mortgage market will soon be tested.

Company towns losing to big cities

updated: 02/24/2017 1:46 a.m. Discuss

PEORIA, Ill. -- Peoria Mayor Jim Ardis planned to open this year's State of the City speech by thanking Caterpillar Inc. for its longtime commitment to the central Illinois town, declaring, "We wouldn't be Peoria without Caterpillar."

Lawmakers pressing again to extract Arctic refuge's oil

posted: 02/24/2017 1:45 a.m. Discuss

ANCHORAGE, Alaska -- Former U.S. Sen. Frank Murkowski in 2001 gave a speech urging colleagues to approve oil drilling in America's largest wildlife refuge. The Alaska Republican held up a blank sheet of paper to illustrate his point.

Month's housing resales speed up

posted: 02/23/2017 2:08 a.m. Discuss

Americans shrugged off rising mortgage rates and bought previously owned homes in January at the fastest pace since 2007. That has set off bidding wars that have pushed up prices as the supply of available homes has dwindled to record lows.

Pension snags GM effort to exit Europe

posted: 02/23/2017 2:06 a.m. Discuss

As General Motors Co. tries to hammer out a deal to sell its long-struggling Europe business to Peugeot owner PSA Group, one multibillion-dollar issue looms large: how the companies will manage an underfunded pension plan for retirees.

Key rate, job fears topics in Fed talks

posted: 02/23/2017 2:05 a.m. Discuss

Federal Reserve officials earlier this month discussed the need to raise a key interest rate again "fairly soon," especially if the economy remains strong.

Berkshire's railroad shift seen as road map for airline deals

posted: 02/23/2017 2:04 a.m. Discuss

Warren Buffett's decision to take stakes in the four largest U.S. airlines is a potential first step to eventually taking over one of the companies, analysts said, citing his history in the railroad industry.

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