Tuesday , 25 July 2017

Business News

Delta flight delayed by argument between pilot, attendant

Delta Air Lines is apologizing after an argument between a pilot and a flight attendant delayed a flight from New York to Portland, Maine. A Delta spokesman said Tuesday that the crew members were replaced before the plane took off. He said the incident does not reflect the professionalism the airline expects from employees, and that the company is investigating. …

Read More »

Domino's Pizza profit rises, but sees overseas slowdown

Domino’s Pizza reported Tuesday that its profit jumped 33 percent in its second quarter as more people ordered its pies, but the pizza chain was hit by a slowdown in sales overseas. Shares of Domino’s Pizza Inc. tumbled more than 8 percent Tuesday. Domino’s international sales rose 2.6 percent at established stores during the quarter that ended June 18, falling …

Read More »

Key ACA insurer urges gov't to keep customer subsidies

One of the biggest insurers in the Affordable Care Act’s marketplaces is warning the federal government that it must preserve cost-sharing payments for low-income customers to avoid hurting millions of people. Centene Chairman and CEO Michael Neidorff said Tuesday that those payments, and some other support, will be crucial to stabilizing marketplace insurance exchanges that have been marred by dwindling …

Read More »

US consumer confidence at 16-year high

U.S. consumers gained confidence this month, with more Americans pleased by current conditions and more hopeful about the future. The Conference Board, a New York-based business research group, says its consumer confidence index in July rose to 121.1, up from a revised reading of 117.3 in June. Consumers’ views on current conditions hit the highest level since July 2001, while …

Read More »

US stocks rise to records, despite rare stumble for tech

U.S. stocks mostly rose in Tuesday morning trading as corporate profits continue to come in even bigger than analysts expected. McDonald’s and Caterpillar were among the big companies reporting healthier-than-forecast earnings. Higher prices for oil, metals and other commodities helped to lift energy and raw-materials companies, while tech stocks took a rare step backward after Seagate Technology and others in …

Read More »

US home prices reach record high for 6th straight month

U.S. home prices reached a new high in May for the sixth straight month, raising fears of another housing bubble roughly a decade after a previous one burst. The Standard & Poor’s CoreLogic national home price index, released Tuesday, increased 5.6 percent in May, the latest data available. It is now 3.2 percent higher than its July 2006 peak. Some …

Read More »

Markets Right Now: Stocks open higher on Wall Street.

The latest on developments in financial markets (All times local): 9:35 a.m. Gains for banks and energy stocks are leading indexes higher in early trading on Wall Street. Heavy equipment maker Caterpillar jumped 3 percent Tuesday after turning in a strong quarter, and mining company Freeport-McMoRan jumped 10 percent after reporting revenue that was higher than analysts were expecting. The …

Read More »

$1 sodas help boost McDonald's sales in US

McDonald’s says a promotion for $1 sodas and a new line of premium burgers helped boost sales in its flagship U.S. market. The Oak Brook, Illinois company said Tuesday domestic sales rose 3.9 percent at established locations during the second quarter. Globally, it says sales rose 6.6 percent. The results come as McDonald’s CEO Steve Easterbrook has been working on …

Read More »

Stronger demand boosts Caterpillar, 2017 outlook raised

Caterpillar recorded a very strong second quarter with demand beginning to the rise after the company cut costs vigorously. The heavy equipment maker boosted its full-year forecast as ordering activity picked up, sending shares 4 percent higher before Tuesday’s opening bell. Caterpillar Inc. earned $802 million, or $1.35 per share. A year ago the Peoria, Illinois, company earned $550 million, …

Read More »

GM 2Q net earnings fall on loss from sale of European unit

General Motors‘ second-quarter net profit fell more than 40 percent largely due to a loss from the sale of its European unit. The company posted net income of $1.66 billion, compared with a record $2.87 billion a year ago. If the European numbers are stripped away, income from continuing operations was $2.4 billion, or $1.89 per share, down 12 percent …

Read More »