The U.S. economy grew at a slightly faster but still anemic rate at the end of last year. However, there is hope that growth accelerated in early 2013 despite higher taxes and cuts in government spending. The Commerce Department says the economy grew at an annual rate of 0.4 percent in the October-December quarter.
The Organization for Economic Cooperation and Development expects growth to accelerate in Japan and the United States in the first half of 2013. And though Germany will bounce back strongly, it says other countries that use the euro will contract or only grow slowly.
Volkswagen Group of America expects U.S. sales to keep growing for the next five years, although its chief executive is tempering expectations a little. The group has seen blistering growth in the U.S. since 2007, when it set lofty goals for sales of the Volkswagen, Audi and Bentley brands.
Research In Motion says it sold about 1 million of its critically important new BlackBerry 10 devices and returned to profitability in the fourth quarter. The earnings provide a first glimpse of how RIM's new touch-screen Z10 is selling internationally and in Canada since its debut Jan. 31.
Most economists agree that the “Great Recession” of 2008 ended sometime around August 2009, and while the economy has been slowly recovering, unemployment still appears to be a stubborn problem. The headline rate is just a shade under 8 percent, but another measure, U6, stands at an incredible 14.4 percent.
Mississippi lawmakers are considering giving a development agency the capacity to use $100 million in bonds toward the construction of buildings for suppliers of Nissan Motor Co.'s Canton plant. Two Senate committees voted Tuesday in favor of Senate Bill 2920.
A surge in commercial aircraft demand pushed orders for U.S. long-lasting manufactured goods up sharply in February. The gain offset a steep drop in orders that signal company investment plans, although economists viewed the decline as a temporary setback.
The Department of Health and Human Services' inspector general said the increasingly common practice is "inherently suspect" and may violate anti-kickback laws, according to the special fraud alert. The agency has only issued a handful of these national fraud alerts in the past 20 years and the warning sends a strong message to doctors.
Shares of Boeing Co. climbed to a multiyear high Tuesday after the company reported a smooth test flight of its new 787 passenger jet and the U.S. government reported that a surge in commercial aircraft sales lifted durable goods orders. Boeing shares rose $1.67, or 2 percent, to $86.52 in midday trading after hitting a high of $86.84 earlier in the session.
Hawaiian Airlines said it has signed a purchase agreement with Airbus to buy 16 new planes as part of a plan for expanded routes between the islands and the West Coast. The Hawaiian Holdings Inc. unit said the deal comes after the airline reached key labor agreements with its pilot and flight attendant unions on the new single-aisle A321neo planes.
Officials at the Randolph County jail say Bruce Cole was released Monday. He faces one theft charge and four counts of securities fraud stemming from the financial collapse of a Mamtek U.S. facility in Moberly in 2011. Moberly had issued $39 million in industrial development bonds to help finance the construction of the facility.
A former employee of United Technologies Corp. is suing the aerospace conglomerate over its tuition program that financed graduate school but laid him off before he could receive company stock. He says the stock he received had a vesting date of Oct. 1, 2013. He was laid off in 2012.
Americans are less confident in the economy than they were last month as massive government spending cuts stoke economic uncertainty. The Conference Board, a New York-based private research group, said its reading of consumer confidence fell in March after rebounding last month.
Overall, confidence in the equipment finance market is 58.0, a slight decrease from the February index of 58.7, reflecting a leveling off in industry participants’ optimism after two consecutive increases.
The Commerce Department says orders for core capital goods declined 2.7 percent in February. Demand weakened for machinery and communications equipment. The decline followed a 6.7 percent surge in January, which was the biggest one-month gain in nearly three years.
China and Brazil plan to sign a deal to do up to $30 billion of trade in their local currencies, as the five-nation BRICS forum of emerging market powers work to lessen dependence on the U.S. dollar and euro. Brazil's foreign trade minister Fernando Pimentel says the agreement would involve nearly half his country's $75 billion annual trade with China.
Americans' consumption of fizzy soft drinks, on the decline since 2005, fell last year to its lowest level since 1996. If it weren't for increasingly popular energy drinks like Monster and Red Bull, the decline would have been worse. The declines come amid heavy attention on soda's role in obesity and related health problems.
Some critics have argued that the low-interest-rate policies could feed a global currency war, which is lowering currency values to make products more competitive on global markets. Bernanke said the current efforts should support stronger trade flows by boosting growth in major economies so that they could buy more goods from developing countries.
Overall new business volume for February was $4.7 billion, down 6 percent from volume of $5 billion in February 2012, but year to date, cumulative new business volume was up five percent compared to 2012.
Oil company BP says it will buy back $8 billion in shares after completing a complex deal for TNK-BP. BP invested $8 billion in cash, shares and assets when it formed TNK-BP in 2003 and received a total of $19 billion in dividends over the next decade.
The writing has been on the wall for a long time for the iconic machine, which was created in the late 1800s. The register was essential in nearly every retail location by 1915, but it now seems outdated in a world in which smartphones and tablets increasingly are replacing everything from books to ATMs to cameras.
The suit, filed in the U.S. Court of Federal Claims in Washington, D.C., is the latest development in a bitter, high-stakes competition that has taken nearly three years with legal challenges from both sides. The contract for 20 planes for use in Afghanistan is worth more than $427 million. It could be worth as much as $1 billion, depending on future orders.
State economic development officials overestimated the long-term benefits of a proposal to help finance a $1.1 billion steel mill proposed in northeast Arkansas, because they didn't consider uncertainties surrounding the project, according to report released Thursday by a consultant that lawmakers hired.
The House has passed a huge stopgap spending bill to keep the government open through the end of September, sidestepping any threat of a government shutdown. The bipartisan 318-109 vote sends the measure President Barack Obama to be signed into law.
The U.S. is increasing its oil production faster than ever and U.S. drivers are guzzling less gas. But you'd never know it from the price at the pump. The national average price of gasoline is $3.69 per gallon and it is forecast to creep higher and could approach $4 by May.