The latest sales data from the holiday season shows that U.S. shoppers increasingly prefer to research clothes, TVs and shoes online, or "virtual window shop," before heading to stores. ShopperTrak, which tracks data at 40,000 stores in the U.S., said on Tuesday that sales for in November and December rose 2.7 percent to $265.9 billion.
A private survey shows U.S. businesses added the most jobs in a year in December, powered by a big gain in construction. The figures are the latest evidence that the economy gained momentum at the end of 2013.Payroll processor ADP said Wednesday that companies added 238,000 jobs in December, up slightly from 229,000 in the previous month.
President Barack Obama will announce five "Promise Zones" this week as part of his effort to focus on income inequality in the lead-up to his State of the Union address.Promise Zones are areas where the federal government provides tax incentives and grants to help communities tackle poverty.
Manufacturing activity reversed its previous two-month climb in the Southeast, widening the gap between the region and the nation, according to the Southeast Purchasing Managers Index (PMI) report released today by Kennesaw State University’s Econometric Center in the Michael J. Coles College of Business.
More than a million Americans lost their unemployment benefits late last month, when a temporary federal program expired. Congress is debating whether to restore the aid for three more months. Democrats say these benefits boost the economy, but Republicans want cuts elsewhere as a trade.
Gov. Andrew Cuomo proposed Monday cutting New York's corporate income tax from 7.1 percent to 6.5 percent in the coming year and eliminating it altogether for upstate manufacturers. "Business is the movement that pulls the train," Cuomo said.
The trade gap dropped 12.9 percent in November to $34.3 billion, the Commerce Department said Tuesday. That's the smallest monthly trade deficit since October 2009. Exports rose 0.9 percent to a record $194.9 billion, aided by a 5.6 percent rise in petroleum exports.
Legislation to renew jobless benefits for the long-term unemployed has cleared an initial Senate hurdle, but the bill's fate remains in doubt. The vote Tuesday was 60-37 to limit debate on the legislation, with a half-dozen Republicans siding with the Democrats.
The goal is to finish writing the mammoth measure this week in anticipation of House and Senate votes before a Jan. 15 deadline to avert another government shutdown. The bill fills in thousands of details across the approximately one-third of the federal budget devoted to the day-to-day operations of federal agencies.
Boeing delivered 65 of its 787s last year, even though deliveries were halted for a four months because of battery problems. Boeing was able to step up the pace once deliveries resumed in May, and it handed over 25 of the jets during the final quarter of last year.
Factory orders rose 1.8 percent in November, the Commerce Department said Monday. That follows a 0.5 percent decrease in October. Orders received by manufacturers totaled a seasonally adjusted $497.8 billion in November, the highest level on records dating to 1992
What stresses small business owners the most? Our conversations with them and the research we come across suggest it's a lack of clarity. Well, there's no small business crystal ball — at least one we are aware of — but if one existed, here's a look at what it might reveal for 2014.
Porsche Cars North America, Inc., the exclusive U.S. importer of Porsche sports cars including the Macan and Cayenne SUVs and the Panamera sports sedan, announced it has once again set an all-time U.S. sales record, with 42,323 cars sold in 2013 (plus 21 percent over 2012).
GM says it sold more than 230,000 cars and last month, down from nearly 246,000 a year ago. Sales of the Chevrolet Silverado pickup, GM's top-selling vehicle, fell 16 percent in a month that traditionally has strong pickup sales.
It's an assertion that has been accepted as fact by droves of the unemployed: Older people remaining on the job later in life are stealing jobs from young people. One problem, many economists say: It isn't supported by a wisp of fact.
Economic activity in the manufacturing sector expanded in December for the seventh consecutive month, and the overall economy grew for the 55th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.
Most analysts are predicting that Americans bought around 1.4 million new cars and trucks last month, the fourth-best month of the year. That means the industry will finish 2013 with sales of about 15.6 million cars and trucks, roughly 8 percent better than the 14.5 million vehicles sold in 2012.
Chrysler finished 2013 with a 9 percent sales increase, posting its best annual numbers in six years as the auto industry's recovery hit full stride. The company said Friday that it sold just over 1.8 million cars and trucks last year, up from 1.65 million a year earlier.
Gov. Pat McCrory's administration is moving to privatize parts of the public agency that woos companies and jobs to North Carolina, hoping to make business recruitment more agile and effective. The revamp would motivate business recruiters in the same way as other salesmen — by possibly paying them bonuses for success and making it easier to fire them when they fail.
Economic activity in the manufacturing sector expanded in December for the seventh consecutive month, and the overall economy grew for the 55th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business.
Bombardier didn't disclose the precise value of the deal — customers such as airlines routinely get discounts from plane manufacturers — and didn't identify the buyer. The Canadian plane maker said the order covered 28 Global jets and 10 Challenger 605 aircraft.
Many have jobs that provide paltry pensions or none at all, as many companies have been moving toward less generous retirement packages in the past decade. Many boomers expect to work the rest of their lives because they have little cash put away for their old age and they worry Social Security won't cover their bills.
An industry group, the China Federation of Logistics & Purchasing, said Wednesday its purchasing managers index for December declined to 51 from the previous month's 51.4. The measure is a 100-point scale on which numbers above 50 indicate increasing activity. "There still is downward pressure on economic growth," said economist Zhang Lijun in a statement that accompanied the report.
The automaker says it expects to sell at least 2.4 million Ford-brand vehicles this year, enough to make it North America's top-selling brand. It says it expects December sales to "grow substantially" compared to last December. The automaker says the strongest growth this year was in the West and Southeast.
Spawned years before the Great Recession and the 2008 financial meltdown, the crisis was significantly worsened by those twin traumas. It will play out for decades, and its consequences will be far-reaching. Many people will be forced to work well past the traditional retirement age of 65. Living standards will fall and poverty rates will rise for the elderly in wealthy countries.