National Business
Business news in brief
posted: 06/20/2013 3:40 a.m. Discuss
QUOTE OF THE DAY “The Fed is out of the closet.They expect to end these [bond] purchases. [Ben] Bernanke wasn’t more specific than later this year, but connecting all the dots suggests he is thinking in the fourth quarter.” Ward McCarthy, Jefferies Group chief financial economist Article, 1D
FedEx fourth-quarter profit drops as priority services lag
posted: 06/19/2013 11:19 a.m. Discuss
MEMPHIS — FedEx Corp.’s fourth-quarter profit fell 45 percent as international customers traded down to less-expensive delivery options.
Reversing, Chrysler to recall Jeeps
posted: 06/19/2013 3:53 a.m. Discuss
Chrysler Group LLC on Tuesday agreed to recall 2.7 million older-model Jeeps, reversing its stance over fuel tanks that can rupture and cause fires in rear-end collisions.
Boeing orders up with latest 787
posted: 06/19/2013 3:50 a.m. Discuss
Boeing Co. said Tuesday its stretched 787 Dreamliner promises to match sales of its smaller version, raising the plane’s order tally as much as 60 percent as it expanded its wide-body lineup to blunt an Airbus SAS challenge.
Home, apartment start-up rises in May
posted: 06/19/2013 3:48 a.m. Discuss
U.S. builders began construction on more single-family homes and apartments in May, encouraged by more buyers and a scarcity of houses for sale.
Consumer costs tick up 0.1% in May
posted: 06/19/2013 3:46 a.m. Discuss
U.S. consumer prices rose slightly in May as higher energy costs partly offset cheaper food, the Labor Department said Tuesday.
MARKET REPORT: Home-building news lifts stocks
posted: 06/19/2013 3:42 a.m. Discuss
U.S. stocks moved higher Tuesday, helped by news of an increase in home building and low inflation. But the Federal Reserve loomed large, with investors trying to guess what the central bank will say today about how long it plans to keep stimulus programs in place.
Business news in brief
posted: 06/19/2013 3:42 a.m. Discuss
QUOTE OF THE DAY “We don’t really have an inflation issue in this country.” Omair Sharif, RBS Securities Inc. economist Article, 1D
Chrysler expected to formally refuse Jeep recall
posted: 06/18/2013 11:13 a.m. Discuss
DETROIT — Chrysler on Tuesday is expected to file papers explaining its refusal to recall 2.7 million older Jeep sport utility vehicles that are at risk of catching fire in rear-end collisions.
Builder morale hits 7-year high
posted: 06/18/2013 3:05 a.m. Discuss
Confidence among U.S. homebuilders surged in June to the highest level in seven years, reflecting gains in sales as Americans rushed to take advantage of low mortgage rates.
EU, U.S. to discuss trade deal
posted: 06/18/2013 2:58 a.m. Discuss
Talks on a sweeping trade deal between the European Union and the United States, the world’s two largest trading partners, are to get under way in Washington next month, President Barack Obama and top EU officials said Monday.
Markets await Bernanke’s interest-rate pronouncement
posted: 06/18/2013 2:55 a.m. Discuss
As he takes questions after Wednesday’s Federal Reserve meeting, Chairman Ben Bernanke is expected to address investors’ fear that interest rates are headed higher.
MARKET REPORT: Stocks up as Fed decision looms
posted: 06/18/2013 2:54 a.m. Discuss
Major stock indexes all rose about 1 percent in early trading Monday, staying there for most of the day, before dipping slightly in the afternoon.
Business news in brief
posted: 06/18/2013 2:53 a.m. Discuss
QUOTE OF THE DAY “Over the last few years, it’s been tough to say that being in a business or an industry that’s tied closely to housing is a good thing. We can actually say that now.” Joseph W. Reitmeier, chief financial officer of Lennox International, about a jump in a national home builders’ confidence index. Article, 1D
U.S. homebuilder confidence soars to 7-year high
posted: 06/17/2013 11:13 a.m. Discuss
For the first time in seven years, most U.S. homebuilders are optimistic about home sales, a sign that construction could help drive stronger economic growth in coming months. The National Association of Home Builders/Wells Fargo builder sentiment index released Monday leaped to 52 this month from 44 in May. It was the largest monthly increase since 2002.
