National Business
New-home sales reach 3-month high
posted: 05/24/2013 3:29 a.m. Discuss
Builders sold more U.S. new homes than projected in April as cheaper borrowing costs and job gains drew more buyers into the market.
Jobless-aid requests fall by 23,000
posted: 05/24/2013 3:22 a.m. Discuss
The number of Americans applying for unemployment benefits fell 23,000 last week to a seasonally adjusted 340,000, a level consistent with solid job growth.
Aussies get Ford notice of goodbye
posted: 05/24/2013 3:20 a.m. Discuss
Ford Motor Co. said Thursday that it will stop making cars in Australia, nine decades after founder Henry Ford first began building the Model T in the country, as a surge in the currency undermines the local industry’s ability to compete with imports.
McDonald’s dogged by ‘junk food’ label
posted: 05/24/2013 3:18 a.m. Discuss
McDonald’s once again faced criticism at its annual shareholder meeting Thursday that it sells junk food and markets to children.
MARKET REPORT: Stocks plummet, mostly recover
posted: 05/24/2013 3:16 a.m. Discuss
Investors recovered their poise after a shaky start to trading on Wall Street that sent stocks sharply lower.
Business news in brief
posted: 05/24/2013 3:14 a.m. Discuss
QUOTE OF THE DAY “We’re definitely moving in the right direction. If we can get back to 330,000 or lower, that’s going to be an early sign that the economy is accelerating into the second half of the year.” Carl Riccadonna, U.S. economist at Deutsche Bank Securities Inc., on the number of applications last week for unemployment benefits Article, 1D
U.S. jobless-aid applications fall to 340,000
posted: 05/23/2013 8:17 a.m. Discuss
WASHINGTON — The number of Americans applying for unemployment benefits fell by 23,000 last week, further evidence that the job market is slowly returning to health.
Bernanke: Jobs puny, stimulus stays
posted: 05/23/2013 3:45 a.m. Discuss
Federal Reserve Chairman Ben Bernanke told Congress Wednesday that the U.S. job market remains weak and that it is too soon for the Fed to end its extraordinary stimulus programs.
Target’s quarterly earnings fall 29%
posted: 05/23/2013 3:42 a.m. Discuss
Target Corp. reported a 29 percent drop in first-quarter profit as unusually cool spring weather and financial pressures chilled customers’ appetite for spending.
U.S. home resales climb to ’09 level
posted: 05/23/2013 3:40 a.m. Discuss
Sales of previously owned homes ticked up last month to the highest level in three and a half years, helped by a jump in the number of houses for sale.
MARKET REPORT: Stocks ride Fed seesaw, then slide
posted: 05/23/2013 3:37 a.m. Discuss
The Federal Reserve took financial markets for a ride Wednesday, pushing stock prices up in the morning then sending them down in afternoon.
Business news in brief
posted: 05/23/2013 3:36 a.m. Discuss
QUOTE OF THE DAY “We’re trying to make an assessment of whether or not we’ve seen real and sustainable progress in the labor market outlook.” Ben Bernanke, Federal Reserve chairman Article, 1D
Bernanke signals Fed to maintain stimulus efforts
posted: 05/22/2013 9:34 a.m. Discuss
WASHINGTON — Chairman Ben Bernanke is telling Congress on Wednesday that the U.S. job market remains weak and that it is too soon for the Federal Reserve to end its extraordinary stimulus programs.
Best Buy reports quarterly loss on restructuring costs
posted: 05/21/2013 11:15 a.m. Discuss
MINNEAPOLIS — Best Buy Co. on Tuesday reported a loss in its fiscal first quarter as it sold its stake in Best Buy Europe and works on a turnaround plan that includes cutting costs and closing some stores.
Trucker says no to exit of chief
posted: 05/21/2013 3:25 a.m. Discuss
USA Truck’s board of directors has rejected the conditional resignation of Chairman Robert Peiser — overriding concerns by a shareholders’ advisory group about the date stockholders will be allowed to vote on the company’s shareholders’ rights or “poison pill” provision.
