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Thursday, April 17, 2014, 10:56 a.m.
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Costs of $6 billion hit bank’s profits

posted: 04/17/2014 3:23 a.m. Discuss

Bank of America, the second-biggest U.S. lender, swung to a first-quarter loss as the company booked $6 billion of costs tied to mortgage disputes.

March construction data mixed

posted: 04/17/2014 3:22 a.m. Discuss

U.S. home construction rose moderately in March as builders resumed work at the end of a frigid winter. But applications for building permits slid, clouding the outlook for future construction.

2 in note: GM part chosen as cost saver

posted: 04/17/2014 3:16 a.m. Discuss

General Motors Co. engineers in 2001 designed an alternative to the spring used in an ignition switch for the 2003 Saturn Ion before it was rejected, according to a letter sent Wednesday to Chief Executive Officer Mary Barra from Joan Claybrook, a former head of the National Highway Traffic Safety Administration, and Clarence Ditlow, executive director of the Center for Auto Safety.

Fed’s survey sees rebound from winter

posted: 04/17/2014 3:15 a.m. Discuss

The Federal Reserve said Wednesday that the U.S. economy continued to expand in most regions as businesses benefited from a bounce-back from harsh winter weather earlier in the year.

IBM revenue shrinks 8th-straight quarter

posted: 04/17/2014 3:15 a.m. Discuss

IBM’s first-quarter earnings fell and revenue came in below Wall Street’s expectations as amid ongoing decline in its hardware business, one that was exasperated by weaker demand in China and emerging markets.

Bitcoin trader denied bankruptcy shield

posted: 04/17/2014 3:14 a.m. Discuss

The Mt. Gox bitcoin exchange in Tokyo is headed for liquidation after a court rejected its bankruptcy protection application.

MARKET REPORT: Investor cheer buoys stocks again

posted: 04/17/2014 3:12 a.m. Discuss

Investors drove stock prices to their highest level in a week Wednesday, encouraged by a crop of corporate earnings and reassuring U.S. and Chinese economic data.

Business news in brief

posted: 04/17/2014 3:11 a.m. Discuss

QUOTE OF THE DAY “We know GM designed two different plungers and springs. They made an affirmative decision to use the cheaper one.” Joan Claybrook, former head of the National Highway Traffic Safety Administration

U.S. homebuilding up in March after frigid winter

posted: 04/16/2014 11:05 a.m. Discuss

WASHINGTON — U.S home construction rose moderately in March as builders resumed work at the end of a frigid winter. But applications for building permits slid, clouding the outlook for future construction.

Fed studies banking measures

posted: 04/16/2014 3:28 a.m. Discuss

Federal Reserve Chairman Janet Yellen suggested Tuesday that current regulatory rules will not be enough to prevent the kind of risk-taking that triggered the 2008 financial crisis and nearly toppled the entire banking system.

Coke’s sales up despite soda drop

posted: 04/16/2014 3:24 a.m. Comment 1

Coca-Cola, the world’s biggest beverage maker, said Tuesday that the amount of soda it sold globally fell for first time in 15 years.

Court upholds EPA rules for air-polluting emissions

posted: 04/16/2014 3:19 a.m. Discuss

A federal appeals court on Tuesday upheld the Environmental Protection Agency’s emission standards for mercury and other hazardous air pollutants from coal- and oil-fired power plants.

Johnson & Johnson says profits up 8%

posted: 04/16/2014 3:18 a.m. Discuss

A turnaround in Johnson & Johnson’s prescription medicine business fueled by new drugs, combined with reduced production and administration expenses, lifted first-quarter profit by 8 percent.

MARKET REPORT: In seesaw trading, stocks end up

posted: 04/16/2014 3:17 a.m. Discuss

Stocks managed a late-afternoon rebound for the second time in two days as investors seemed to brush off a report of lower confidence among home builders and simmering tensions in the Ukraine.

Business news in brief

posted: 04/16/2014 3:16 a.m. Discuss

QUOTE OF THE DAY “The more requirements you put on the highly regulated banks, the greater is the incentive to find ways around the tougher rules.” Bert Ely, independent banking consultant

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