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Poor Batch of Earnings Send Stocks Lower in Early Trade

Thursday, 30 April 2015 08:42 Written by
A weak batch of earnings reports is sending the stock market slightly lower in early trading. Harman International, which makes audio systems for cars, Varian Medical Systems and Celgene all dropped in early trading Thursday after their revenue fell short of analysts' estimates. The Dow Jones industrial average lost 13 points, or 0.1 percent, to at 18,024 as of 9:35 a.m. Eastern time. The Standard & Poor's 500 index fell two points, or 0.1
Visit Your Doctor Virtually Thanks to Dr. Phil's New App
Thursday, 30 April 2015 08:42 Written by
Psychologist Phil McGraw from the television show "Dr. Phil" wants your next doctor visit to be as easy as ordering take-out on your smartphone. McGraw is backing a video-based app for virtual doctor visits that just got a major boost from a big health insurer. Doctor on Demand, which recently raised $21 million, announced today that it is partnering with insurance provider UnitedHealthcare. The app connects patients with board-certified doctors, psychologists and lactation consultants 24
Labor Organizers Seek Unusual Ally in Fast-Food Franchisees
Thursday, 30 April 2015 08:20 Written by
Labor organizers are opening a new front in their campaign for a $15-an-hour wage for fast-food workers by aiming to mobilize an unusual ally: franchisees. The Service Employees International Union plans to announce Thursday that it is launching a website in hopes of building a national network of fast-food franchisees who want better protections for their businesses. The push has the potential to create more unrest within the ranks for companies like McDonald's, which
Exxon's 1Q Profit Falls 46 Percent Amid Decline in Oil Price
Thursday, 30 April 2015 08:09 Written by
Lower oil prices pushed Exxon Mobil Corp.'s first-quarter profit down 46 percent, but the results still beat Wall Street expectations. Exxon said Thursday that it earned $4.94 billion — a huge sum but the weakest first quarter for the oil giant since 2009. A year earlier, Exxon earned $9.10 billion. When world oil prices collapsed from about $100 a barrel to less than $50 over the second half of last year, it made some
US Wage Growth Shows Signs of Strength as Hiring Picks Up
Thursday, 30 April 2015 07:51 Written by
Paychecks for U.S. workers are rising at a faster pace as strong hiring in the past year has lowered the unemployment rate and increased competition for workers. The Labor Department says that its employment cost index, which tracks wages, salaries and benefits, rose 2.6 percent in the first quarter compared with a year ago. Wages and salaries also rose 2.6 percent. That is up from a 1.8 percent pace in March of 2014 and
Applications for US Unemployment Aid Plunge to 15-Year Low
Thursday, 30 April 2015 07:47 Written by
The number of Americans seeking unemployment aid plummeted to the lowest level in 15 years last week, evidence that employers are laying off few workers despite a sharp slowdown in economic growth. The Labor Department says weekly applications for unemployment benefits dropped 34,000 to 262,000, the lowest level since April 2000. The four-week average, a less volatile measure, dipped 1,250 to 283,750, near a 15-year low. Applications are a proxy for layoffs, so the
US Consumer Spending up 0.4 Percent in March
Thursday, 30 April 2015 07:47 Written by
U.S. consumers boosted spending in March by the largest amount in four months, a hopeful sign that this key sector of the economy is reviving after a frigid winter. The Commerce Department says consumer spending increased 0.4 percent in March, the strongest gain since a similar increase in November. Spending fell in December and January before climbing a modest 0.2 percent in February. The rise in spending came despite the fact that income growth
Stocks Stabilize in Europe After Global Drop on Weak US Data
Thursday, 30 April 2015 06:58 Written by
Shares fell in Asia on Thursday following news the U.S. economy skidded to a near halt in the first three months of the year. Traders were also awaiting the outcome by early afternoon of a Japanese central bank policy meeting. It kept its ultra-loose monetary policy intact, with no changes. KEEPING SCORE: Japan's Nikkei 225 lost 2.5 percent to 19,549.43 and Hong Kong's Hang Seng slipped 0.6 percent to 28,240.88. South Korea's Kospi dropped
Chinese Builder Puts up 57-Story Skyscraper in 19 Days
Thursday, 30 April 2015 06:21 Written by
A Chinese construction company is claiming to be the world's fastest builder after erecting a 57-story skyscraper in 19 working days in central China. The Broad Sustainable Building Co. put up the rectangular, glass-and-steel Mini Sky City in the Hunan provincial capital of Changsha using a modular method, assembling three floors per day, company vice president Xiao Changgeng said. The company, which has ambitions to assemble the world's tallest skyscraper at 220 floors in
China Closes Major Business News Website in Extortion Case
Thursday, 30 April 2015 06:21 Written by
Authorities ordered one of China's most prominent business news websites to close Thursday after its managers were accused of extorting money from companies with threats of negative coverage. The penalties follow the September detention of the publisher and general manager of the website's parent newspaper, the 21st Century Business Herald. That was one of the highest-profile scandals in a Chinese news industry that has been wracked by repeated allegations of misconduct. Companies were coerced

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