×

Money & Markets

Visa beats Street forecasts, but dollar remains a drag

NEW YORK - Visa said Thursday that its fiscal first-quarter results rose 24 percent from a year earlier, as more people spent money on Visa's namesake credit and debit cards.The San Francisco-based company reported earnings of $1.94 billion, or 80 cents a share, compared with $1.57 billion, or ...

Amazon net income doubles, but its results still fall short

SEATTLE - Amazon saw its results for the holiday quarter as a present wrapped in a bow. But analysts and investors saw something more like a lump of coal.The e-commerce giant said on Thursday that its fourth-quarter net income more than doubled, as shoppers continued migrating online for ...

FDA OKs Merck hepatitis C drug

TRENTON, N.J. - Patients with hepatitis C have yet another advanced treatment option, as the Food and Drug Administration on Thursday approved a new once-a-day pill developed by drugmaker Merck. The FDA said Merck can begin marketing Zepatier for patients with two of the subtypes the ...

US pending home sales inch up in December

WASHINGTON - The number of people signing contracts to purchase homes managed to inch up last month, thanks to unseasonably warm weather in the Northeast. The National Association of Realtors said Thursday that its seasonally adjusted pending home sales index crept up 0.1 percent to 106.8. ...

Fed voices concern about global economic pressures

WASHINGTON - The Federal Reserve sounded a note of concern Wednesday about how global pressures could affect a slowing U.S. economy, while keeping a key interest rate unchanged.Six weeks after it raised rates from record lows, the Fed took stock of a more perilous international picture that ...

Facebook posts strong 4Q, closes gap with Google

SAN FRANCISCO - Facebook is growing at an exceptional pace as it enters adolescence, propelling it into a better position to challenge Google as the Internet's most powerful company.Facebook's fourth-quarter report Wednesday provided the latest gauge of the company's impressive strides.It ...

US new-home sales soar in December

WASHINGTON - Americans rushed to buy new homes in December at the strongest pace in 10 months, with 2015 marking the strongest year for this segment of the housing market since 2007.The Commerce Department said Wednesday that new-home sales surged 10.8 percent last month to a seasonally ...

Samsung Electronics’ 4Q earnings sink 40 pct

SEOUL, South Korea - Samsung Electronics says its earnings for the final quarter of 2015 have plunged 40 percent over a year earlier.The South Korean company said Thursday its October-December net profit was 3.2 trillion won ($2.7 billion). The result falls short of expectations. Analysts ...

After setting iPhone record, Apple forecasts rare sales drop

SAN FRANCISCO - Apple is bracing for its first sales decline in 13 years, despite selling a record 74.8 million iPhones in the final three months of 2015.The giant tech company says revenue could fall at least 8.6 percent during the January-March quarter, compared with a year earlier. Analysts ...

Health care fines press millennials as deadline nears

WASHINGTON - Millions of young adults healthy enough to think they don't need insurance face painful choices this year as the sign-up deadline approaches for President Barack Obama's health care law.Fines for being uninsured rise sharply in 2016 - averaging nearly $1,000 per household, ...

American consumers showing confidence in economy

WASHINGTON - A strong job market and low gasoline prices helped boost U.S. consumer confidence again this month.The Conference Board on Tuesday said that its consumer confidence index rose to 98.1 in January from 96.3 in December, the second straight monthly gain. The business research group ...

Chase planning rollout of card-free ATMs

NEW YORK - Soon, losing your ATM card won't be the financial life-stopping event it used to be. Just don't also lose your phone.JPMorgan Chase customers will soon be able to withdraw cash or initiate other transactions using their cellphone at Chase ATMs being upgraded later this year.The move ...

JPMorgan to pay $1.42B to Lehman Brothers

NEW YORK - JPMorgan Chase has agreed to pay $1.42 billion to settle allegations that it withheld critical funds from Lehman Brothers in the final days leading up to Lehman's collapse during the financial crisis. Lehman's failure is considered a critical moment in the financial crisis, one that ...

Twitter parts with 4 key execs in latest sign of turmoil

SAN FRANCISCO - Four of Twitter's key executives are leaving the company in an exodus that has escalated the uncertainty facing the messaging service as it struggles to broaden its audience and lure back disillusioned investors.Twitter CEO Jack Dorsey announced the management shake-up late ...

A month after raising rates, Fed faces darker global economy

WASHINGTON - Since the Federal Reserve raised interest rates from record lows last month, the global picture has darkened. Stock markets have plunged. Oil prices have skidded. China's leaders have struggled to steer the world's second-biggest economy.All of which raised a delicate question: Did ...

Congressional agency reduces health law sign-up predictions

WASHINGTON - Fewer people than expected are purchasing health insurance under President Barack Obama's health care law, a report confirmed on Monday.The Congressional Budget Office study said that 13 million people are likely to purchase policies through the Affordable Care Act this year, down ...

Breakfast bump: McDonald’s US sales jump 5.7 percent

NEW YORK - McDonald's says offering breakfast around the clock helped jolt its sales. Sales at the world's biggest hamburger chain rose 5.7 percent in the U.S. for the final three months of 2015, boosted by unseasonably warm weather and the launch of an all-day breakfast menu in October.That ...

Storm economic hit not as bad as feared

The weekend blizzard along the East Coast could have a relatively small economic impact - up to $850 million, experts estimate - because the storm hit on a weekend and there weren't any major power outages. That meant there was little lost productivity in government and business. Restaurants, ...

Global policymakers seek to reassure after market turbulence

DAVOS, Switzerland - At the end of another turbulent week in financial markets, leading global policymakers sought Saturday to ease concerns over the economic outlook for 2016 and insisted that the slowdown in China is a natural turn for an economy in transition.A high-level panel of finance ...

15,000 protest in Moldova to demand an early election

CHISINAU, Moldova - More than 15,000 people held an anti-government protest Sunday in the Moldovan capital to demand an early election in the impoverished Eastern European nation.Protesters in Chisinau shouted "We want the country back!" and "Unity, citizens!" in Romanian and Russian and ...