Economy’s weak spell puts Fed at crossroads over liftoff plans
WASHINGTON (Reuters) – The Federal Reserve’s plan to raise interest rates this year, forged over months of strong jobs growth and a seemingly durable expansion, now faces an economy that no longer follows the script and may push the “liftoff” far into the future.
Judge certifies class action over J.C. Penney phantom discounts
(Reuters) – A federal judge certified a class-action lawsuit that accuses J.C. Penney Company Inc of marking up retail prices on apparel and accessories to trick shoppers into believing they were getting big discounts when the items were advertised on …
Off-price retailers strike gold from West Coast slowdown
(Reuters) – Not every U.S. retailer has cause to complain about the West Coast port disruptions. For those focused more on price than the latest fashion, the delivery backlog caused by the slowdown could be a treasure trove.
Robust U.S. housing data offers hope for second quarter growth
WASHINGTON (Reuters) – U.S. housing starts jumped to their highest level in nearly 7-1/2 years in April and building permits soared, hopeful signs for an economy that is struggling to regain strong momentum after a dismal first quarter.
Carl Icahn and son say Apple will still introduce TV, car: CNBC
(Reuters) – Billionaire activist investor Carl Icahn and Brett Icahn, his son and portfolio manager, on Tuesday stuck to their views that Apple Inc would introduce a television set and a car.
Home Depot profit beats amid U.S. housing recovery
(Reuters) – Home Depot Inc reported higher-than-expected quarterly profit and sales on Tuesday and raised its full-year forecast as North American customers spent more on home repairs after a harsh winter.
U.S. lawmaker sees early June vote to repeal meat labeling laws
WASHINGTON (Reuters) – U.S. House of Representatives Agriculture Committee Chairman Michael Conaway said on Tuesday he expects an early June vote on legislation to repeal U.S. meat labeling laws to avoid costly retaliation from Canada and Mexico.
JPMorgan executive pay wins slim support from shareholders
DETROIT (Reuters) – The 2014 Compensation of JPMorgan Chase & Co CEO Jamie Dimon and other top bank executives won support from only 61 percent of shareholder votes cast at the company’s annual meeting on Tuesday, according to a preliminary tally.
Europe dampens Greek hopes of swift deal as clock ticks
ATHENS/BRUSSELS (Reuters) – Greece’s European lenders on Tuesday played down Athens’s hopes of a swift end to negotiations on an aid agreement and said talks must speed up before the country runs out of cash.
Anthem CFO says insurer could make ‘meaningful’ acquisition
(Reuters) – The financial chief of Anthem Inc , the second-largest U.S. health insurer, said on Tuesday that low interest rates and other conditions make it a good time for an acquisition, adding to speculation about merger activity in the sector.
