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Money

  • Money

    Insider Q&A: Taking the measure of record-high stock prices

    WASHINGTON (AP) — With stock price indexes setting record highs, many investors have been keeping a wary eye on the markets. Have stocks risen too far, too fast? Are they destined to fall from here? And what might happen if prices experienced a full-fledged correction — typically defined as a plunge of at least 10 […]
  • Money

    Yellen says Fed’s extraordinary policies may be needed again

    WASHINGTON (AP) — Federal Reserve Chair Janet Yellen on Friday defended the central bank’s extraordinary efforts to fight the Great Recession and said they might be needed again. During the recession, the Fed pushed short-term interest rates to zero. When the economy needed more help, it took the extraordinary step of buying hundreds of billions […]
  • Money

    US rig count declines by 15 this week to 913; Texas loses 8

    HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. declined by 15 this week to 913. That’s up from the 553 rigs that were active a year ago. Houston oilfield services company Baker Hughes said Friday that 736 rigs sought oil and 177 explored for natural gas this […]
  • Money

    CEO of Saks Fifth Avenue parent to step down

    NEW YORK (AP) — The parent of Lord & Taylor and Saks Fifth Avenue says its CEO Jerry Storch is stepping down and will return to his advisory firm on Nov. 1. Storch has been the CEO of Toronto-based Hudson’s Bay, which also operates the department store chain under its namesake, since January 2015. Hudson’s […]
  • Lifestyle

    Business Highlights

    ___ Trump promises tax cuts as Senate GOP paves way with budget WASHINGTON (AP) — President Donald Trump is promising the biggest tax cuts “in the history of our country” following Senate passage of a $4 trillion budget. The budget plan lays the groundwork for action on a tax overhaul Republicans hope to push through […]
  • Money

    How major US stock indexes fared on Friday

    Stocks closed higher Friday, extending a record-setting drive for major indexes. The Standard & Poor’s 500 index and Dow Jones industrial average closed out their sixth straight week of gains. Both indexes also finished at record highs for the fifth day in a row. Banks and technology companies had some of the biggest gains as […]
  • Money

    Trump: Considering Powell and Taylor for Fed’s top 2 posts

    WASHINGTON (AP) — President Donald Trump signaled Friday that he is considering dual nominations for the Federal Reserve’s top two jobs. Trump may appoint Jerome Powell, a member of the Fed’s board, potentially as chairman, and John Taylor, a Stanford University economist, as vice chairman, according to a transcript of an interview with Trump distributed […]
  • Money

    PayPal and Skechers jump while Celgene tumbles

    NEW YORK (AP) — Stocks that moved substantially or traded heavily Friday: Celgene Corp., down $14.63 to $121.33 The drugmaker ended late-stage testing of a potential treatment for Crohn’s disease. General Electric Co., up 25 cents to $23.83 The industrial company slashed its annual forecast after a disappointing third quarter and announced plans to shed […]
  • Lifestyle

    Recalls this week: wind-up toys, ottomans, wood chippers

    More than a half-million windup toys are being recalled this week because a piece poses a choking hazard to young children. Other recalled consumer products this week include off-highway vehicles and wood-chippers. Here’s a more detailed look: WINDUP MUSICAL TOYS DETAILS: Carter’s, Child of Mine, Guess How Much I Love You, and Just One You […]
  • Money

    Hurricane Irma cost Florida 127K jobs, but most will return

    WASHINGTON (AP) — Employers cut jobs in six U.S. states last month, particularly in hurricane-hit Florida, while hiring increased in five and was mostly unchanged in 39 states. The Labor Department said Friday that Florida lost 127,000 jobs last month, mostly in hotels, restaurants and in construction, after Hurricane Irma flooded much of the state. […]