Money & Markets

Ryan: No comprehensive immigration overhaul with Obama in office

WASHINGTON - House Speaker Paul Ryan on Sunday ruled out a comprehensive overhaul of the immigration system while President Barack Obama is in office.The new leader of the Republican-controlled House said in several interviews Sunday that he will not work with Obama because the president went ...

SEC opens door to startup investing for all

WASHINGTON - A new form of crowdfunding is coming soon that will allow startups to raise money by selling stock to Main Street investors.The Securities and Exchange Commission on Friday adopted rules implementing a 2012 law that opened the door to securities crowdfunding. The vote was 3-1 at a ...

Fed looks at way to shift big-bank losses to investors

WASHINGTON - In their latest bid to reduce the chances of future taxpayer bailouts, federal regulators are proposing that the eight biggest U.S. banks build new cushions against losses that would shift the burden to investors.The Federal Reserve's proposal put forward Friday means the ...

Chevron cutting up to 7K jobs as profits shrink

DALLAS - Chevron is cutting up to 7,000 jobs, or 11 percent of its workforce, the latest indication of the toll that low oil prices are taking on the industry. The two biggest U.S. oil companies reported huge profits for the third quarter. Chevron Corp. said Friday that it earned $2 billion, ...

Texas approves Nike $250M licensing deal

AUSTIN, Texas - University of Texas regents approved a 15-year, $250-million licensing and apparel contract with Nike on Friday that includes a signature line of apparel featuring former Longhorns basketball player Kevin Durant.Texas has partnered with Nike since 2000 and the company had an ...

US economy slowed to 1.5 pct. growth rate in 3Q

WASHINGTON - The U.S. economy slowed sharply in the summer, reflecting a cutback in businesses' stockpiling of goods, which offset solid consumer spending. But most economists think growth has been strengthening since the July-September quarter ended.The Commerce Department said Thursday that ...

Walmart and Target’s announce holiday plans

NEW YORK - Wal-Mart and Target, two of the biggest U.S. retailers, on Thursday rolled out plans to lure shoppers into stores during the holiday season that includes discounts, stepped-up marketing and spiffed up stores.The moves illustrate how important the holiday shopping season is to ...

Starbucks delivers sales gains in 4th quarter

Starbucks Corp. delivered another quarter of sales gains as more customers visited its stores worldwide. But the coffee giant's shares slipped in extended trading Thursday after it issued a modest profit forecast for the current quarter.The Seattle-based company said it expects to earn 44 to 45 ...

LinkedIn’s 3Q results top analyst views

SAN FRANCISCO - LinkedIn is behaving like an extremely productive worker who always seems to get the job done while still yearning to be more like flashier peers.The professional networking service delivered another outstanding performance in the third quarter, lifting its stock by almost 12 ...

Fed keeps rate at record low, consider Dec. hike

WASHINGTON - The Federal Reserve is keeping its key short-term interest rate at a record low in light of a weak global economy, slower U.S. hiring and subpar inflation. But it signaled the possibility of a rate hike in December.A statement the Fed issued Wednesday said it would monitor job ...

Drug prices top Americans’ list of health care concerns

WASHINGTON - Americans from across the political spectrum are worried about the cost of prescription drugs for serious diseases, following weeks of news coverage about companies hiking prices for critical medicines.Keeping drugs for cancer, hepatitis, HIV and other conditions affordable is the ...

Walgreens, Rite Aid combo to spread drugstore health kick

Walgreens will use its $9.41 billion takeover of rival Rite Aid to spread its philosophy on making drugstores destinations for customers looking to stay healthy or buy beauty products.The nation's largest drugstore chain also is expected to flex its beefed-up negotiating muscle to wring better ...

Icahn says AIG ‘too big to succeed,’ urges break up

NEW YORK - Activist investor Carl Icahn urged American International Group Inc. to split up into smaller companies Wednesday, saying that the insurance provider is "too big to succeed."Though his Twitter account, Icahn said that he has a "large stake" in the insurer, which has a market ...

Twitter’s 3Q report illustrates challenges facing new CEO

SAN FRANCISCO - Twitter's latest financial report conveyed a succinct message: CEO Jack Dorsey has his work cut out as he tries to attract more people to one of the Internet's most influential means of communications.The challenges facing Dorsey came into sharper focus with Tuesday's release of ...

Bill delays train safety technology mandate 3 to 5 years

WASHINGTON - The House passed a bill Tuesday that delays for three to five years the mandate for railroads to put long-sought safety technology in place.Federal accident investigators say the technology, known as positive train control, would have prevented an Amtrak derailment in Philadelphia ...

Ford CEO to Trump: ‘Facts are stubborn things’

WASHINGTON - Donald Trump has his facts wrong when it comes to claims the Republican presidential candidate pressured the company into scrapping plans to build a plant in Mexico, the chief executive of Ford Motor Co. said Tuesday.During a conference call to discuss the automaker's third-quarter ...

Walgreens buying Rite Aid for $9.41B

NEW YORK - Walgreens is buying buy rival Rite Aid for about $9.41 billion in cash, creating a drugstore giant with nearly 18,000 stores around the world.The deal combines the largest and third-largest U.S. drugstore chains, based on store counts. And it makes one of the world's largest ...

No Fed rate hike likely yet as global pressures monitored

WASHINGTON - Not long ago, it seemed a sure bet: The Federal Reserve would raise interest rates by year's end. Fed Chair Janet Yellen herself said she expected it.Now, doubts are rising that the Fed will start raising rates before next year from the record lows where they've stood since 2008. ...

Speaker Boehner’s deal: 2-year budget, debt ceiling

WASHINGTON - Speaker John Boehner is pressing ahead with one last deal as he heads for the exits, pushing to finalize a far-reaching, two-year budget agreement with President Barack Obama before handing Congress' top job over to Paul Ryan this week, congressional officials said Monday.The ...

Indonesia to join Asia trade pact

WASHINGTON - Indonesia's leader says his country intends to join a sweeping Pacific Rim trade deal involving the United States. Indonesian President Joko Widodo is making the announcement after meeting with President Barack Obama in the Oval Office.Indonesia had previously expressed interest in ...