Wilbur Ross seeks bigger budget for trade enforcement
WASHINGTON (Reuters) – U.S. Commerce Secretary Wilbur Ross said on Thursday that a $5.5 million increase requested for the agency’s enforcement budget this year will have a “real impact” in cracking down on unfair trade practices and export security vi…
U.S. Treasury sees business taxes as fruitful ground for bipartisan deal
WASHINGTON (Reuters) – The Trump administration is particularly hopeful it can reach a bipartisan tax deal when it comes overhauling laws for business taxes, Treasury Secretary Steven Mnuchin said on Thursday.
Anthem battle behind it, Cigna gives stock to 40,000 workers
NEW YORK (Reuters) – Cigna Corp , which recently won court approval to break off its failed deal with Anthem Inc , on Thursday said it would give its more than 40,000 employees five Cigna shares each and expand its paid leave, as it embarks on its next…
New Ford CEO relies on veterans to reboot profits
BENGALURU/DETROIT (Reuters) – Ford Motor Co on Thursday reshuffled senior management and brought back a former executive from Uber Technologies Inc, signaling its new chief executive officer will rely on tested company veterans to turn Ford around rat…
Wall Street hits record highs, helped by consumer stocks
NEW YORK (Reuters) – The S&P 500 and Nasdaq hit record closing highs on Thursday, with the market propped up by gains in the consumer discretionary sector after strong reports from Best Buy and other retailers.
BlackRock CEO Larry Fink says global growth accelerating
(Reuters) – BlackRock Inc Chief Executive Officer Larry Fink said global growth was accelerating and that corporate earnings were keeping pace with higher stock prices.
Abercrombie’s same-store sales beat on demand for Hollister brand
(Reuters) – U.S. teen apparel retailer Abercrombie & Fitch Co , which has put itself up for sale, posted a smaller-than-expected drop in comparable-store sales, helped by strong demand for Hollister, its California beach-themed brand of surfwear.
Jobless claims edge up; goods trade deficit widens
WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits rose slightly last week and the four-week moving average of claims hit a 44-year low, suggesting a further tightening of the labor market that could encourage the Federal R…
Best Buy beats on profit, sales; shares at 11-year high
CHICAGO (Reuters) – Best Buy Co Inc reported an unexpected rise in first-quarter comparable sales and the No. 1 U.S. electronics retailer said it planned to save $600 million in costs by the end of fiscal 2021, sending shares to an 11-year high on Thur…
Some Uber and Lyft riders are giving up their own cars: Reuters/Ipsos poll
SAN FRANCISCO (Reuters) – Wally Nowinski got his first car when he turned 16 in Michigan, the home of the U.S. auto industry. But after two years of living in New York City, he sold his wheels, using ride services, carsharing and bike sharing to get ar…
