Coverage: Bank of America’s third quarter profit rose 43 percent
Bank of America Corp. on Monday beat analysts’ estimate for third-quarter profit and revenue as the nation’s second-largest bank set aside less than expected for loan losses. Hugh Son of CNBC.com had the news: The bank posted earnings per share of 66 cents, a 43 percent increase from a year earlier, exceeding the 62 cent estimate of […]
Talking Biz News Today — Oct. 16, 2018
Some of Tuesday’s top business news stories: Associated Press Microsoft co-founder, philanthropist Paul Allen dies at 65, by Phuong Le U.S. budget deficit hits highest level in six years, by Josh Boak Bloomberg The suspense builds for Goldman Sachs and Morgan Stanley earnings, by Jennifer Surane and Claire Ballentine Tesla skeptic surprised by how much he enjoyed the Tesla 3, […]
Coverage: Sears is headed to bankruptcy court
Sears, once the country’s largest retailer, is preparing a Chapter 11 bankruptcy filing to cut its debts and keep operating at least through the holidays. Michael Corkery of The New York Times had the news: As part of the reorganization plan, which is expected to be filed on Sunday night, Sears is to receive a loan […]
Talking Biz News Today — Oct. 15, 2018
Some of Monday’s top business news stories: Associated Press Trump’s business ties to kingdom run long and deep, by Bernard Condon, Stephen Braun and Tami Abdollah Analysts: Florida insurers will survive hit from Michael, by Terry Spencer Bloomberg Forget stoners. The real money is in medical marijuana, by Jen Skerritt How the tequila boom could go bust, by Daniela Guzman, Deena […]
Coverage: Mortgage rates hit a seven-year high
Mortgage rates are at their highest levels since April 2011 as Freddie Mac reported Thursday that the 30-year fixed-rate average jumped to 4.90 percent with an average 0.5 point. Kathy Orton of The Washington Post had the news: The 19-basis-point jump (a basis point is 0.01 percentage point) was the largest one-week spike in the 30-year rate […]
Talking Biz News Today — Oct. 12, 2018
Some of Friday’s top business news stories: Associated Press Stocks plunge again; Dow’s two-day loss reaches 1,300 points, by Marley Jay Can earnings season come to the rescue for stocks? by Stan Choe Bloomberg Americans keep getting smarter about sugar, by Justin Fox U.S. Treasury staff finds that China isn’t manipulating yuan, by Saleha Mohsin and Jenny Leonard Fortune The stock […]
Coverage: The stock market suffers widespread losses
U.S. stocks plunged Wednesday as investors, fearful that rising interest rates and trade tensions could hurt company profits, ramped up their selling of high-flying technology and internet stocks. Marley Jay and Stan Choe of the Associated Press had the news: The Dow Jones Industrial Average fell 831 points, its worst loss in eight months. The losses were widespread, […]
Talking Biz News Today — Oct. 11, 2018
Some of Thursday’s top business news stories: Associated Press Scramble for holiday season workers already near fever pitch, by Christopher Rugaber and Anne D’Innocenzio AmEx Gold Card gets bigger perks, higher fee, by Ken Sweet Bloomberg Jeff Bezos’s fortune just dropped $9.1 billion, by Devon Pendleton United Airbus suffers engine failure on Newark-bound flight, by Justin Bachman Fortune Monsanto may get […]
Coverage: Coal company files for Chapter 11 protection
One of the oldest coal companies in the U.S. — Westmoreland Coal Co. — filed for bankruptcy protection Tuesday to deal with more than $1.4 billion in debt amid declining demand for the fuel. Matt Volz of the Associated Press had the news: Englewood, Colorado-based Westmoreland Coal Co. filed for voluntary Chapter 11 protection in U.S. […]
Talking Biz News Today — Oct. 10, 2018
Some of Wednesday’s top business news stories: Associated Press U.S. stock indexes mixed as interest rates take a pause, by Stan Choe China promises not to weaken yuan, criticizes U.S. concern, by Joe McDonald Bloomberg Short seller who foresaw Valeant crash now bets on Tesla falling, by Tatiana Darie Google reveals new Pixel phone, speaker to chase Apple, […]
