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U.S. Consumer Prices Fall; Core Capital Goods Orders Rise

8:50 AM 02/26/15 WASHINGTON (Reuters) – U.S. consumer prices in January posted their biggest drop since 2008 as gasoline prices continued to tumble, which could give a cautious Federal Reserve ammunition to keep interest rates low a bit longer. The Labor Department said its Consumer Price Index fell 0.7 percent last month, the largest decline […]

Tougher Internet Rules To Hit Cable, Telecoms Companies

1:23 AM 02/26/15 By Alina Selyukh WASHINGTON (Reuters) – U.S. regulators are poised to impose the toughest rules yet on Internet service providers, aiming to ensure fair treatment of all web traffic through their networks. The Federal Communications Commission is expected Thursday to approve Chairman Tom Wheeler’s proposed “net neutrality” rules, regulating broadband providers more […]

U.S. Existing Home Sales Hit Nine-Month Low, Supply Weak

10:06 AM 02/23/15 WASHINGTON (Reuters) – U.S. home resales fell sharply to their lowest level in nine months in January amid a shortage of properties on the market, a setback that could temper expectations for an acceleration in housing activity this year. The National Association of Realtors said on Monday existing home sales declined 4.9 […]

Exclusive: Local Bankers Emerge As Fed Ally In Fight Against Audit Bill

1:12 AM 02/23/15 By Jonathan Spicer COLUMBUS, Ohio (Reuters) – Local bankers are joining the fight against a congressional proposal to audit the U.S. Federal Reserve’s policy decisions, with more expected to lobby against the bill if it gains traction in Washington. The audit the Fed bill, championed by Rand Paul of Kentucky, a Republican […]

Deere Cuts Profit Forecast, Hurt By Weak Equipment Sales

02/20/15 10:55:30 AM World’s largest farm-equipment maker Deere reported a 43 percent drop in profit, while sales also declined. Deere also cut its full year profit forecast, blaming lower corn prices and weak farm income. Leah Duncan reports. Farmers are hurting and that’s bad news for Deere. The world’s largest farm-equipment maker reported a 43 […]

U.S. Factory Activity Edges Up In February: Markit

10:17 AM 02/20/15 (Reuters) – The U.S. manufacturing sector expanded in February at its fastest rate since November, after notching its lowest reading in a year in the prior month, an industry report showed on Friday. Financial data firm Markit said its preliminary or “flash” U.S. Manufacturing Purchasing Managers Index rose to 54.3 in February, […]

U.S. Producer Prices Post Record Drop On Tumbling Energy Costs

8:37 AM 02/18/15 WASHINGTON, (Reuters) – U.S. producer prices posted a record decline in January, weighed down by plunging energy costs, pointing to very benign inflation pressures in the near term. The Labor Department said on Wednesday its producer price index for final demand dropped 0.8 percent, the biggest drop since the revamped series started […]

West Coast Ports Dispute Drags On; Labor Secretary To Intervene

6:37 PM 02/16/15 By Steve Gorman LOS ANGELES (Reuters) – A partial shutdown of 29 U.S. West Coast ports stretched into a third day on Monday ahead of the U.S. labor secretary’s scheduled arrival in San Francisco to try to broker a settlement ending months of disruptions on the cargo-clogged docks. President Barack Obama, under […]

U.S. January Import Prices Post Largest Drop Since 2008

9:13 AM 02/13/15 By Lucia Mutikani WASHINGTON (Reuters) – U.S. import prices recorded their biggest drop in six years in January as the cost of petroleum and a range of other goods fell, a sign that domestic inflation pressures could remain muted for a while. The Labor Department said on Friday import prices tumbled 2.8 […]

Xiaomi Takes Its First Steps Into Apple’s Turf

02/13/15 2:28:57 AM China’s largest smartphone brand, Xiaomi, is extending its footprint to the United States with plans to start selling accessories online in the next several months. Tara Joseph reports. Watch your home turf, Apple! China’s largest smartphone company Xiaomi is about to begin selling its accessories online in the United States. The company’s […]

U.S. Retail Sales Weak, Consumer Spending Gauge Barely Rises

8:32 AM 02/12/15 WASHINGTON, Feb 12 (Reuters) – U.S. consumer spending barely rebounded in January as households appeared to continue holding back on discretionary spending, suggesting economic growth was slow at the beginning of the first quarter. The Commerce Department said on Thursday retail sales excluding automobiles, gasoline, building materials and food services edged up […]

Shifting Goal Posts On Employment May Signal Slower Fed Rate Hikes

1:11 AM 02/11/15 By Ann Saphir and Howard Schneider SAN FRANCISCO/WASHINGTON (Reuters) – Federal Reserve officials are debating a historic shift in one of its core economic gauges that could lead the central bank to move even slower than now thought once it lifts its rates from rock bottom levels. According to interviews with half […]

U.S. Companies May Not Be Fleeing Due To High Tax Rate, Reuters Analysis Shows

1:26 AM 02/09/15 By Kevin Drawbaugh WASHINGTON (Reuters) – When a series of big U.S. companies last year moved to reincorporate abroad in inversion deals, some Republican lawmakers and tax policy critics blamed the high U.S. corporate tax rate. Lowering it, they said, would keep companies from fleeing the country. But a Reuters analysis of […]

Strong Dollar Vexes Mid-Sized U.S. Exporters, Local Demand Helps

1:23 AM 02/09/15 By Nick Carey CHICAGO (Reuters) – First thing every morning Bill Hickey turns on the TV to see where the U.S. dollar is trading in the hope it has lost value against the euro and other currencies. “And there it is, staring you right in the face,” says Hickey, president of Chicago-based […]

Strong U.S. Job, Wage Gains Open Door To Mid-Year Rate Hike

8:31 AM 02/06/15 By Lucia Mutikani WASHINGTON, Feb 6 (Reuters) – U.S. job growth rose solidly in January and wages rebounded strongly, a show of underlying strength in the economy that puts a mid-year interest rate increase from the Federal Reserve back on the table. Nonfarm payrolls increased 257,000 last month, the Labor Department said […]

Massive Cyberattack Strikes Anthem

02/05/15 11:19:53 AM Anthem says hackers stole data including social security numbers on up to 80 million people. It could rank as one of the biggest corporate cyberattacks. Fred Katayama reports. They’ve got your name, your birthday, your email and street addresses, even your social security number. Health insurer Anthem says hackers broke into its […]

U.S. Trade Deficit Widens; Weekly Jobless Claims Up Modestly

9:18 AM 02/05/15 By Lucia Mutikani WASHINGTON (Reuters) – The U.S. trade deficit in December widened sharply to its highest level since 2012 as a stronger dollar appeared to suck in imports and weigh on exports, which could see the fourth-quarter economic growth estimate revised lower. The Commerce Department said on Thursday the trade deficit […]

U.S. Private Sector Adds 213,000 Workers In January: ADP

8:28 AM 02/04/15 (Reuters) – U.S. private employers added 213,000 jobs in January, falling short of the median forecasts of analysts, a payrolls processor report showed on Wednesday. Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 225,000 jobs. December’s private payrolls were revised up to 253,000 from […]

U.S. Consumer Spending Weakest Since 2009, Inflation Muted

8:40 AM 02/02/15 WASHINGTON (Reuters) – U.S. consumer spending recorded its biggest decline since late 2009 in December, with households appearing to save the extra cash from cheaper gasoline, which could support future consumption. The Commerce Department said on Monday consumer spending dropped 0.3 percent after a downwardly revised 0.5 percent increase in November. It […]

Shake Shack Doubles On Debut

01/30/15 11:52:40 AM Fast casual restaurant chains like Chipotle have been a hit, but Shake Shack shares may have a hard time sustaining themselves, says a veteran IPO analyst. Fred Katayama reports. A hot start for what began as a humble hot dog stand. Shake Shack’s shares sizzled at the open on its debut as […]