• Bridgestone-Firestone recalls over 36,000 truck tires

    Updated: Fri, Feb 5, 2016

    DETROIT (AP) — Bridgestone-Firestone North America is recalling more than 36,000 heavy truck tires in the U.S. and Canada because the tread can separate from the body and cause the tires to fail. The recall covers 22.5-inch Firestone FS561 replacement tires made from January 25, 2015 to January 27, 2016. The company says in documents filed with the government that the recall covers tires used on trailers. Tread separation can cause sudden loss of air pressure and increase the risk of a crash. Bridgestone-Firestone says its investigating what causes the problem. It was discovered in October of 2015 when the company noticed an unusual number of warranty returns. The company says it has no reports of injuries.

  • Congress unites in scorn for Shkreli, but gridlock remains

    Updated: Fri, Feb 5, 2016

    WASHINGTON (AP) — A smirking Martin Shkreli briefly united Democrats and Republicans on Capitol Hill this week, as lawmakers took turns blasting the price-hiking former CEO who has become the new poster child for corporate greed. But the gridlocked state of Congress virtually assures federal efforts to lower drug prices will remain in limbo for years. And even then, experts warn that the options available to Congress would not stop companies like Turing Pharmaceuticals, where Shkreli engineered a 5000 percent price increase of a critical anti-infection drug. For now, experts say the worst lawmakers can do is give price-gouging executives a verbal lashing before their committees.

  • Apple now accepting your banged-up iPhone

    Updated: Fri, Feb 5, 2016

    NEW YORK (AP) — Apple for the first time is accepting banged up iPhones as a trade-in from those wanting to upgrade. Until now, Apple offered credit to iPhone owners only if the device had an intact screen and working buttons. Apple hopes that with more leeway, applicable only to iPhone 5 and later models, more people will upgrade to new iPhones. Apple has told investors that it may book its first revenue decline in 13 years when it reports quarterly earnings in April due in part to weakness in the global economy. But the smartphone market has matured as well after a yearslong streak of blistering hot demand. Apple relies on the iPhone for two-thirds of its revenue.

  • DraftKings makes long delayed push into UK

    Updated: Fri, Feb 5, 2016

    BOSTON (AP) — As its industry continues to tangle with U.S. policymakers, daily fantasy sports giant DraftKings is making its long-anticipated international push with a launch Friday in the United Kingdom. The Boston-based company was granted a license by U.K. gambling regulators in August and had hoped to launch by the end of 2015. But the release was pushed to early this year, with officials saying the website's software was still being finalized. "The focus has been on getting the product right," Jeff Haas, the company's London-based chief international officer, said by phone. "Any delays that may have occurred were not due to what was happening in the U.S.

  • Chinese-led investors plan to buy Chicago Stock Exchange

    Updated: Fri, Feb 5, 2016

    NEW YORK (AP) — The Chicago Stock Exchange, founded more than a century ago, said it has agreed to be acquired by a Chinese-led investor group. The buyers are considering opening a stock exchange in southwest China and also hope to list Chinese stocks in the U.S., Chicago Stock Exchange CEO John Kerin said in an interview Friday. The exchange needs the cash from the buyout to launch its new trading products and platforms, Kerin said. Terms of the deal were not disclosed. Kerin will continue as CEO after the deal closes. Leading the investor group is Chongqing Casin Enterprise Group, a holding company based in Chongqing, China. Efforts to reach Chongqing Casin Enterprise Group were unsuccessful.

  • President Barack Obama takes victory lap on economy

    Updated: Fri, Feb 5, 2016

    WASHINGTON (AP) — President Barack Obama on Friday used a new jobs report to continue his victory lap on the economy — and jab at the Republicans vying for his job. In brief remarks to reporters at the White House, Obama declared the U.S. has "the strongest, most durable economy in the world." He pointed to signs of wage and income growth, job growth, lower oil prices and increasing numbers of Americans with health insurance as evidence of that claim. The president spoke shortly after the Labor Department announced that U.S. employers added 151,000 jobs in January. The gains pushed the unemployment rate to 4.9 percent from 5 percent, the lowest level of Obama's presidency.

  • The number of unemployed millennials is shrinking

    Updated: Fri, Feb 5, 2016

    WASHINGTON (AP) — Good news for parents: Millennials in their early 20s found work in January. The unemployment rate for workers ages 20 to 24 dropped more than a full percentage point to 8.2 percent last month. That's the lowest level since June 2007 and a vast improvement over the double-digit jobless rates that stretched from the Great Recession through 2014. Men have some catching up to do, though: While the unemployment rate for women in their early 20s was 7.3 percent, the rate for men in the same age range was notably higher at 9 percent. Unemployment rates also fell for Latinos and Asians. Rates rose slightly for black Americans, seniors and those without high school diplomas. Overall, U.S.

  • Energy loans likely to cause further losses for big banks

    Updated: Fri, Feb 5, 2016

    NEW YORK (AP) — The nation's six largest banks have hit an oil slick. They have tens of billions of dollars of exposure to risky energy loans that won't all be paid back because low oil prices have sapped the profits of oil companies. The value of those loans will have to be written down even further, and bank profits are going to take a hit, the credit agency Moody's said in a report issued Friday. The loans on the balance sheets of the biggest banks on Wall Street — JPMorgan Chase, Goldman Sachs, Citigroup, Morgan Stanley, Wells Fargo and Bank of America — represent only a small percentage of these firms' overall loans, but the losses will be noticeable.

  • Help wanted: Jobs aplenty at stores, restaurants, hospitals

    Updated: Fri, Feb 5, 2016

    WASHINGTON (AP) — The best places to look for work last month? Retail, restaurants and health care. Those sectors alone accounted for more than 140,000 added jobs, helping offset losses in such areas as mining, education and transportation. U.S. retailers added nearly 58,000 jobs in January. Stores selling clothing, furniture and electronics ramped up hiring. So did dealers selling cars and auto parts. Restaurants and bars continued their hiring spree. Americans appear to be using some of the extra money they have from lower gas prices to eat out. The hiring momentum also remained strong at hospitals, physicians' offices and home health services.

  • Jobs report helps ease concerns a recession might be nearing

    Updated: Fri, Feb 5, 2016

    WASHINGTON (AP) — U.S. manufacturing is shrinking, corporate profits are declining and goods are piling up on warehouse shelves. Those trends have elevated concern that a U.S. recession may loom in the next year or two. Yet in the one area that matters most, the economy has continued to shine: Hiring. Last month, employers added 151,000 jobs, a tepid pace by recent standards but still enough to help cut the unemployment rate to a nearly eight-year low of 4.9 percent. Over the three months that ended in January, hiring has averaged a robust 231,000 a month. Such a trend typically reflects an economy in prime health, not one nearing a recession.

  • AP FACT CHECK: Dems in New Hampshire

    Updated: Fri, Feb 5, 2016

    WASHINGTON (AP) — Hillary Clinton cast the financial industry as an adversary in her presidential campaign — despite the money that industry has poured into her White House effort. Bernie Sanders once again mischaracterized the share of the wealth taken by the very richest Americans. A look at some of the claims in their latest Democratic presidential debate: CLINTON on Wall Street: "They are trying to beat me in this primary." THE FACTS: Wall Street is not the anti-Clinton monolith she implied. People in the securities and investment industry gave more than $17 million last year to super political action committees supporting her presidential run and nearly $3 million directly to her campaign, according to OpenSec

  • JC Penney looking at possible HQ sale and partial leaseback

    Updated: Fri, Feb 5, 2016

    NEW YORK (AP) — J.C. Penney is considering selling and partially leasing back its headquarters to help lower debt and create long-term savings. The department store operator said Friday that it has a surplus of square footage available in the Plano, Texas office building, with favorable market conditions making it a good time for such a real estate transaction. J.C. Penney Co. has been in the three-story building since 1992. The company had a strong holiday season. A key sales metric rose 3.9 percent as shoppers picked up home goods and other gifts. Earlier this month it started selling refrigerators, washing machines and other appliances at some of its stores for the first time in more than 30 years. J.C. Penne

  • Stocks edge lower in early trading on Wall Street

    Updated: Fri, Feb 5, 2016

    NEW YORK (AP) — The stock market opened slightly lower after the government reported only modest job growth last month. The Dow Jones industrial average edged down 54 points, or 0.3 percent, to 16,359 as of 9:35 a.m. Eastern time. The Standard & Poor's 500 index lost 12 points, or 0.7 percent, to 1,902. The Nasdaq composite gave up 36 points, or 0.8 percent, to 4,472. Several stocks were moving on earnings news. LinkedIn plunged 34 percent after the social media company released a weak forecast for 2016. Tyson Foods soared 10 percent after its earnings came in well ahead of analysts' estimates. Bond prices fell. The yield on the 10-year Treasury note rose to 1.87 percent.

  • US exports fell in 2015 for first time since recession

    Updated: Fri, Feb 5, 2016

    WASHINGTON (AP) — The U.S. trade deficit rose in December as American exports fell for a third straight month, reflecting the pressures of a stronger dollar and spreading global weakness. Those factors contributed to the first annual drop in U.S. export sales since the Great Recession shrank global trade six years ago. The December deficit increased 2.7 percent to $43.4 billion, the Commerce Department reported Friday. Exports fell by 0.3 percent, driven by sales declines of civilian aircraft, autos and farm products. Imports increased 0.3 percent as Americans bought more foreign-made cars and petroleum. For all of 2015, the deficit rose 4.6 percent to $531.5 billion. Exports fell 4.8 percent, the first setback since 2009 w

  • US trade deficit up in 2015; exports drop for first time since recession amid strong dollar, global weakness

    Updated: Fri, Feb 5, 2016

    WASHINGTON (AP) — US trade deficit up in 2015; exports drop for first time since recession amid strong dollar, global weakness.

  • Hiring slows as US employers add just 151,000 jobs last month; firms shed education, transportation and temp workers

    Updated: Fri, Feb 5, 2016

    WASHINGTON (AP) — Hiring slows as US employers add just 151,000 jobs last month; firms shed education, transportation and temp workers.

  • Estee Lauder 2Q results top Street, hair care sales climb

    Updated: Fri, Feb 5, 2016

    NEW YORK (AP) — Estee Lauder's fiscal second-quarter results topped analysts' estimates thanks in part to increased sales of makeup, fragrances and hair care products. The beauty products company earned $446.2 million, or $1.19 per share, for the three months ended Dec. 31. A year earlier the New York company earned $435.7 million, or $1.13 per share. Earnings, adjusted for non-recurring costs, came to $1.22 per share. The results beat Wall Street expectations. Analysts surveyed by Zacks Investment Research expected earnings of $1.09 per share. Revenue rose to $3.12 billion from $3.04 billion a year ago. The latest figure beat the $3.07 billion that Zacks analysts predicted.

  • Moody's tops Street 4Q forecasts

    Updated: Fri, Feb 5, 2016

    NEW YORK (AP) — Moody's Corp. (MCO) on Friday reported fourth-quarter net income of $217.9 million. On a per-share basis, the New York-based company said it had net income of $1.09. The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.05 per share. The credit ratings agency posted revenue of $865.9 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $850.3 million. For the year, the company reported profit of $941.3 million, or $4.63 per share. Revenue was reported as $3.48 billion. Moody's expects full-year earnings to be $4.75 to $4.85 per share.

  • DHEC chief attending energy symposium in Charleston

    Updated: Fri, Feb 5, 2016

    CHARLESTON, S.C. (AP) — Offshore oil and gas, solar power and nuclear energy in South Carolina are the focus of an energy forum being held in Charleston. South Carolina Department of Health and Environmental Control director Catherine Heigel is the keynote speaker for the daylong event Friday. Representatives of environmental groups and the utility industry are also speaking during the eighth annual Law and Society Symposium sponsored by the Charleston School of Law. The event is co-sponsored by The Riley Institute at Furman University.

  • Super Bowl ads go for the safety

    Updated: Fri, Feb 5, 2016

    NEW YORK (AP) — Talking animals, celebrity cameos and crowd-pleasing rock songs: This year's Super Bowl advertisers are sticking to the classics in their efforts to win over Big Game viewers on Sunday. Skittles will showcase Steven Tyler's high range on "Dream On," Budweiser is enlisting Helen Mirren to chide drunk drivers, and Audi will have an astronaut drive its luxury R8 sports car to the tune of David Bowie's "Starman," to note just a few of the ads that have garnered pre-game buzz. (Many advertisers release their spots online ahead of the game.) The Super Bowl is advertising's biggest stage, and each year brands battle to stand out among the 40-plus commercials that air during the game.




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