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Toys R Us, hobbled by competition, will shutter 180 stores
NEW YORK | Toys R Us, squeezed by Amazon.com and huge chains like Walmart, will close 20 percent of its U.S. stores, or 180 locations, within months — including one in Aurora. Hobbled by $5 billion in...
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United’s 4Q profit rises 46 percent, beats Street forecasts
DALLAS | Fourth-quarter profit at United Airlines jumped 46 percent and the carrier signaled that average fares would inch higher early this year, but its shares fell in extended trading Tuesday after...
View ArticleUS new home sales tumbled 9.3 percent in December
WASHINGTON | Americans cut back their purchases of new homes in December as harsh winter weather dampened demand. The Commerce Department said Thursday that new-home sales skidded 9.3 percent last...
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Home Depot to give one-time bonus of up to $1,000
ATLANTA | Home Depot is paying out one-time bonuses of up to $1,000 in cash to its hourly workers in the U.S., citing the recent tax overhaul. The home improvement retailer follows others doing the...
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US economy grew at solid 2.6 percent rate in fourth quarter
WASHINGTON | The U.S. economy grew at a solid rate of 2.6 percent in the final three months of last year, helped by the fastest consumer spending since the spring of 2016 and a big rebound in home...
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Global growth, dollar, push durable goods orders up 2.9 pct
WASHINGTON | Orders for long-lasting manufactured goods rose 2.9 percent in December, the fastest pace since June and another sign of strength for American industry, the Commerce Department said...
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US sales of outdoor equipment slump as consumer habits shift
DENVER | The outdoor gear industry brought its biggest winter marketplace to Denver this week as it faces slipping sales and shifting U.S. consumer habits. About 1,000 manufacturers are showing new...
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US mortgage rates rise for 3rd straight week
WASHINGTON | U.S. mortgage rates rose this week for a third week in a row, lifted by investors’ expectations for faster economic growth, which has pushed up borrowing costs. Mortgage giant Freddie Mac...
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Keurig buys Dr. Pepper Snapple, creating a beverage giant
PLANO, Texas | Keurig will buy Dr. Pepper Snapple Group, creating a beverage giant with about $11 billion in annual sales. The companies, both the result of previous mergers, will bring under one tent...
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US consumer spending up a solid 0.4 percent in December
WASHINGTON | Americans increased their spending 0.4 percent in December, a solid pace but slower than the big spending burst seen in November. The Commerce Department said Monday the spending gain...
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Super Bowl ads aim for the heart – and sometimes lower
NEW YORK | After a year of political and cultural upheaval, Super Bowl advertisers appear to be pulling back from themes of unity in favor of in-game stunts and ads that aim for the heart — and in some...
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AP Explains: Why are crypto exchanges vulnerable to hacks?
SEOUL, South Korea | Blockchain technology can make transactions safe and secure, but crypto-currency exchanges that trade bitcoins and other virtual currencies that are based on this technology have...
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US home prices post 6.2 percent increase
WASHINGTON | U.S. home prices rose a sharply in November, lifted by a shortage of homes on the market. Standard & Poor’s said Tuesday that its S&P CoreLogic Case-Shiller national home price...
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Leaked forecast of economic woe inflames UK Brexit debate
LONDON | A leaked, and gloomy, economic forecast has inflamed arguments about Britain’s decision to leave the European Union. Brexit-supporting politicians on Tuesday said those who released the...
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Pfizer, riding tax changes, puts up huge 4Q profit
Pfizer’s fourth-quarter profit soared to $12.27 billion thanks to a huge tax benefit related to the U.S. tax system overhaul. The biggest U.S. drugmaker on Tuesday reported an $11.34 billion benefit,...
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Eurozone economy enjoys its best year in a decade
LONDON | The eurozone economy, for so long a source of uncertainty, has enjoyed its best year in a decade, clear evidence it has broken out of the prolonged debt crisis that raised fears about the very...
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Survey: US companies added healthy 234,000 jobs in January
WASHINGTON | U.S. businesses continued to hire at a healthy pace in January, a sign the economy is off to a solid start for the year. Payroll processor ADP said Wednesday that companies added 234,000...
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Wages rise at 2.6 percent in 2017 despite Q4 slowdown
WASHINGTON | U.S. workers’ wages and benefits grew 2.6 percent last year, the fastest 12-month pace since the spring of 2015. The 12-month gain in wages and benefits came despite a slight slowdown at...
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Starbucks launches credit card, hoping to jolt sales
NEW YORK | Starbucks has a new product that it hopes will hook coffee lovers: a credit card. The card, launched Thursday with JPMorgan Chase and Visa, comes as Starbucks struggles with slowing growth...
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US construction spending up 0.7 percent in December
WASHINGTON | Construction spending rose 0.7 percent in December to a record high. It was the fifth consecutive monthly gain with all major sectors showing modest increases. The Commerce Department said...
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