Business: Latest Financial Topics from ABC News


Here is the latest Business News from ABC News



Berkshire Hathaway 4th-Quarter Profit up 32 Percent
Warren Buffett’s company reports a 32 percent jump in fourth-quarter profit as insurance units, other businesses improve

US: Sophisticated Attackers Hacked Ukrainian Electric Grid
A U.S. investigation found that a December hack on the Ukrainian power grid was coordinated and highly sophisticated

How the Dow Jones Industrial Average Fared on Friday
Stocks ended a strong week on a flat note as lower oil prices and utility stocks offset encouraging economic news

JC Penney and Kraft Rise, Weight Watchers and Gap Skid
JC Penney and Kraft Heinz are advancing while Weight Watchers, Nutrisystem and Gap are sliding

Business Highlights
Business Highlights

Insider Q&A: KBW Research Head Cannon on Rates, Banks
Global stock markets have been turbulent and fairly scary this year

Big Airlines Say Contractor Bankruptcy Won’t Disrupt Flights
American, Delta, United say regional-flying contractor’s bankruptcy won’t disrupt flights

US Rig Count Drops 12 This Week to 502; Texas Down 5
Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 12 this week to 502

Insurer Warnings Cast Doubt on ACA Exchange Future
Health insurers are reporting steep losses from their business on the Affordable Care Act’s insurance exchanges and some are considering dropping the business

Watch: Zac Posen’s Creative Business Advice Real Biz with Rebecca Jarvis
Episode 79: Fashion designer and multi-hyphenate, Zac Posen joins ABC News Chief Business and Economics Correspondent on Real Biz with Rebecca Jarvis.

US Consumer Sentiment Slips in February
Consumers’ confidence slipped a bit in February, the University of Michigan said

DC Regulators Reject Exelon-Pepco Deal but Could Reconsider
District of Columbia regulators have again rejected a proposed $6.8 billion merger between power companies Exelon and Pepco, but they say they are willing to reconsider the deal

Dow Chemical Settles Case Citing Supreme Court Uncertainty
Dow Chemical to pay $835M to settle class action after death of Justice Scalia decreases chance of prevailing at Supreme Court

Zac Posen’s Creative Business Advice
How do you measure success? For American fashion designer, Zac Posen, the answer is ever evolving.

US Stocks Back to Flat as Oil Price Retreats
US stocks were clinging to very modest gains as the price of oil, which had pushed stocks higher early in the day, fell back

Recalls This Week: Child Seats, Pellet Stoves, Gas Boilers
Recalls this week include child seats, pellet stoves, gas boilers

Honeywell Offer for United Tech Worth More Than $90 Billion
Honeywell, after being rejected in its bid to acquire United Technologies, revealed that it is offering more than $90 billion

Cruise Ship Food: 10,680 Hot Dogs Just Tip of the Iceberg
The Oasis of the Seas crew has 10 hours to unload and restock the floating city with a week’s worth of food and supplies

Hilton to Spin off Timeshares, Most of Real Estate Business
Hilton plans to spin off its timeshare business and most of its real estate business

US Economy Grew at 1 Percent Rate in October-December Quarter, Faster Than Initial Estimate
US economy grew at 1 percent rate in October-December quarter, faster than initial estimate

J.C. Penney’s Shares Rise After Upbeat Revenue Outlook
J.C. Penney posts 4Q loss but has an adjusted profit that matched Wall Street estimates and appears to be winning back customers

Evenflo Recalls Over 56,000 Child Seats for Harness Problem
Evenflo is recalling more than 56,000 child safety seats because curious children can loosen the internal harness, increasing the risk of injury in a crash

Revlon CEO Lorenzo Delpani to Step Down Next Week
Revlon says CEO Lorenzo Delpani is stepping down from the job next week for personal reasons

US Economy Grew at Better 1 Percent Rate in Fourth Quarter
US economy grew at 1 percent rate in October-December quarter, stronger than initial estimate

Royal Bank of Scotland Shares Dive After 8 Annual Loss
Investors punish Royal Bank of Scotland for choosing to take provisions against past conduct rather than pay dividends

Asian Shares Gain Following Reassurances From China on Yuan
Asian shares rise Friday after China’s central bank governor vows not to devalue the yuan

IMF’s Lagarde, Other G20 Finance VIPs Urge Action on Reforms
Officials at a global finance meeting Friday in Shanghai urged governments to speed up promised job-creating reforms instead of relying on stimulus to perk up slackening growth

China Rules out Weakening Yuan to Boost Trade
China’s central bank chief has ruled out weakening the country’s currency to boost exports as global finance ministers opened a closely watched meeting in Shanghai

HP and Ensco Stumble While Salesforce and LendingTree Rise
HP and Ensco decline, while Salesforce and LendingTree advance in Wall Street trading

Gap’s Shares Fall in Late Trading on Weak Profit Outlook
Gap’s 4th-quarter profits fall 33 percent on currency headwinds, but adjusted earnings per share beat estimates

How the Dow Jones Industrial Average Fared on Thursday
A late-day rally pushed stocks solidly higher Thursday as oil prices rose

Republic Airways Files for Bankruptcy Protection
Republic Airways files for Chapter 11 bankruptcy protection

Louisiana Hit With Credit Rating Downgrade, Blow to State
Louisiana’s credit rating has been downgraded, after years of budget instability that leave public colleges and government services wallowing in repeated financial uncertainty

Weight Watchers Stock Plummets After 4Q Loss
Weight Watchers shares dive in aftermarket trading after it posted a loss for the fourth quarter. Analysts had expected a small profit.

Halliburton to Cut Another 5,000 Jobs Amid Oil Slump
The drilling services provider Halliburton will cut 5,000 more jobs as the industry struggles with slumping oil prices

Business Highlights
Business Highlights

SeaWorld Acknowledges That Its Workers Infiltrated Animal Rights Groups and Vows to End the Practice
SeaWorld acknowledges that its workers infiltrated animal rights groups and vows to end the practice

Average 30-Year Mortgage Falls to 3.62 Percent
Average long-term mortgage rates fell this week as anxiety over the global economy persisted. The average rate on a 30-year fixed-rate loan dipped to 3.62 percent from 3.65 percent last week.

Hello Stranger! Let’s Start a Business Together
Some entrepreneurs start companies with people they barely know

Tax Group Blasts Pfizer, Urges Stop to Its Tax-Cutting Deal
A consumer group is accusing Pfizer of seeking to avoid $35 billion in U.S. taxes by buying fellow drugmaker Allergan, a deal structured to nominally move Pfizer’s address to lower-tax Ireland, Allergan’s home

SeaWorld Acknowledges Planting Worker in Animal Rights Group
SeaWorld Entertainment acknowledged for the first time that it used a worker to infiltrate animal rights group opposed to its practices

Grain Lower, Livestock Mixed
Grain lower on the CBOT, beef mixed and pork higher on the CME

MetLife, Known for Life Insurance, May Part With Its Agents
MetLife is in talks to sell a business unit made up of thousands of insurance sales agents to MassMutual

Why Hillary Clinton’s Emails Matter This Year
Clinton’s email scandal underscores the threat of security breaches.

Gordon: What Presidential Candidates Miss About the Economy
Economist Robert Gordon: What presidential candidates miss about the economy

No, Smartphones Aren’t That Innovative: Why Pay Is Lagging
Economist Robert Gordon isn’t impressed by your smartphone: US innovation lags, lowering pay

Average US Rate on 30-Year Mortgage Falls to 3.62 Percent
Average long-term US mortgage rates fell this week as anxiety over the global economy persisted

Stocks Edge Mostly Higher in Midday Trading
Stocks are mostly higher in midday trading as the market builds on a modest climb from the day before

Two Deaths, Canadian Probe Cause Huge Toyota SUV Recall
A global recall of nearly 2.9 million Toyota SUVs was prompted by a Canadian investigation into a crash that killed two people

Sears 4Q Loss Widens After Limping Through the Holidays
Sears 4th-quarter losses grew wider and the struggling retailer hobbled through the crucial holiday season

Weekly Applications for US Unemployment Benefits Rise, Though Remain at Low Level
Weekly applications for US unemployment benefits rise, though remain at low level

Orders to US Companies for Durable Goods Post Strongest Gain in 10 Months
Orders to US companies for durable goods post strongest gain in 10 months

Applications for US Jobless Benefits Rise to Still-Low Level
Weekly applications for US unemployment benefits rise, though remain at low level

US Durable Goods Orders Jumped in January
US durable goods orders up 4.9 percent in January, strongest gain in 10 months

Sears Reports 4Q Loss
Sears Holdings posts 4th-quarter loss of $580 million

China Facing Pressure to Reassure on Economy at G20 Meeting
China faces pressure to calm nerve-wracked world markets over how it is steering its slowing economy and managing its currency at the G20 meeting in Shanghai

Asian Shares Meander Following Mixed Cues From Wall Street
Asian shares were mixed Thursday after an overnight reversal from losses on Wall Street, thanks in part to a pickup in the price of crude oil

Asian Shares Meander Following Mixed Cues From Wall Street
Asian shares were mixed in early trading on Thursday after an overnight reversal from losses on Wall Street, thanks in part to a pickup in the price of crude oil

Grain Lower, Livestock Higher
Wheat,corn,oats and soybeans lower on the CBOT; beef and pork higher on the CME.

Ford Recalls 51,470 Transit Wagons for Seat Belt Defect
Ford Motor Co. is recalling 51,470 Transit wagons in North America because the rear seat belts may not latch properly

How the Dow Jones Industrial Average Fared on Wednesday
The stock market reversed steep declines and ended slightly higher on Wednesday, thanks in part to a pickup in the price of crude oil

IMF Seeks Contingency Plans for Vulnerable Global Economy
IMF: Need contingency plans to protect vulnerable global economy from adverse shocks

Chesapeake Energy and DreamWorks Gain; Transocean Falls
Chesapeake Energy, DreamWorks and Target are among the day’s winners on the stock market, while Transocean, Advisory Board and Extra Space Storage fall

Business Highlights
Business Highlights

MTN Withdraws Nigeria Lawsuit, Pays $250 Million Toward Fine
South African telecommunications giant MTN says it’s withdrawing its lawsuit in Nigeria and making a “good faith” payment of $250 million to the government as negotiations continue over one of the largest fines ever issued in the industry

Rankings in J.D. Power’s Auto Dependability Study
Rankings in J.D. Power’s annual auto dependability study

Feds Want Proof for ACA Exchange Special Enrollment Windows
The federal government is tightening some loopholes that let customers on the Affordable Care Act’s public insurance exchanges buy coverage outside the law’s annual enrollment window

US Sales of New Homes Fall 9.2 Percent in January to Annual Rate of 494,000, Largely Due to Drop-off in West
US sales of new homes fall 9.2 percent in January to annual rate of 494,000, largely due to drop-off in West

Bayer Taps Strategy Chief to Take Over as CEO
Pharmaceutical company Bayer AG says strategy chief Werner Baumann will succeed CEO Marijn Dekkers on May 1

Tips on When to Buy TVs to Fancy Chocolates
Willing to wait for a deal

Snacks Nation: Food Makers Turning Everything Into Snacks
Food makers turning grilled chicken, chocolate, peanut butter and Spam into snacks

Grain Lower, Livestock Mixed
Grain lower on the CBOT, beef mixed and pork higher on the CME

UPS Invests in Same-Day Delivery Company Deliv
UPS, looking for ways to get goods to shoppers faster, is investing in same-day delivery company Deliv

Murray Energy Idling West Virginia Coal Mine
A large West Virginia underground coal mine owned by Murray Energy is halting production for nearly two weeks and possibly longer

Stocks Slide, Led by Declines in the Energy Sector and Banks
Stocks are moving lower in midday trading on Wall Street, led by declines in energy companies and banks as commodity prices fall

US New-Home Sales Tumble in January, Big Decline in West
US new home sales tumbled 9.2 percent in January as purchases plunged in the West

Study: Lexus, Porsche and Buick Are Most Dependable
Lexus, Porsche and Buick are the most dependable car brands, according to JD Power study

Lowe’s Revenue Jumps in 4Q as Housing Market Warms
Lowe’s 4Q revenue beat out most expectations as did its profit outlook for this year

Target Swings to Profit, Comparable-Store Sales Rise Again
Target swung to a 4Q profit and the retailer put up its 6th consecutive quarter of rising comparable-store sales

Peugeot Citroen Returns to Profit After Long Overhaul Effort
PSA Peugeot Citroen says it returned to profit last year on the back of higher sales and the impact of a multi-year restructuring plan to cut costs and fatten margins

Lowe’s Meets 4Q Profit Forecasts
Lowe’s matches 4Q profit expectations, tops revenue forecasts

Asian Stocks Slide as Oil Falters Following Saudi Remarks
Asian stocks were mostly lower on Wednesday, tracking declines on Wall Street as crude oil extended losses after Saudi Arabia ruled out freezing production, saying market forces should be allowed to work

Hong Kong Finance Chief Says Political Turmoil Hurts Economy
Rising political turmoil in Hong Kong could hurt economic growth in the freewheeling southern Chinese business hub, the city’s finance chief said as he unveiled measures Wednesday to shore up flagging growth hit by global weakness

Airbus Profit Rises as Aircraft Deliveries Grow
Airbus says earnings grew 15 percent last year as demand for the European aerospace and defense giant’s A320 and A330 jets helped boost deliveries and top arch-rival Boeing in the race for new orders

Fed Vice Chair: Too Soon to Know Effects of Market Moves
Fed vice chair says it’s too soon to know if financial markets gyrations will affect US growth

Twin Sisters Split $6 Million Lottery Win
The sisters say they will split their winnings 60/40.

McDonald’s Testing Chobani Yogurt in Parfaits, Smoothies
McDonald’s is partnering with Chobani for its parfaits and smoothies in Southern California

How the Dow Jones Industrial Average Fared on Tuesday
Stocks fell broadly as commodity prices retreated

Fitbit and Smucker Slide While Home Depot and Macy’s Jump
Fitbit, Smucker and Tenet Healthcare are among stocks declining while Home Depot, Macy’s and Newport are rising

Honeywell Says Regulators Wouldn’t Prevent United Tech Deal
Honeywell International says regulators wouldn’t be a big obstacle to a combination with United Technologies, contrary to what United Technologies said Monday, and that the deal would be good for customers.

Business Highlights
Business Highlights

Audi Tops Consumer Reports Auto Rankings Despite Cheating
Audi tops Consumer Reports’ annual auto brand rankings despite cheating on diesel emissions

Audi Tops Consumer Reports Auto Rankings Despite Cheating
Audi tops Consumer Reports’ annual auto brand rankings despite cheating on diesel emissions

US Home Purchases Rose 0.4 Percent in January; Strong Appetite for Housing Despite Slower Economy
US home purchases rose 0.4 percent in January; strong appetite for housing despite slower economy

US Home Sales Climbed in January Despite Weaker Economy
U.S. home sales crept upward in January, a sign that demand for housing remains strong amid signs of slower growth across the broader economy

Consumer Confidence Falls to 92.2 in February
Consumer confidence fell in February to the lowest level since July, reflecting in part stock market turbulence

Saudi Oil Minister Says Market Should Handle Low Prices
Saudi Arabia’s oil minister rejects production cuts, says some high-cost producers may fail

AP Source: Scientists Find Cause of Air Bag Explosions
A person briefed on the matter says scientists hired by the auto industry have found the circumstances that cause Takata air bags to explode violently and kill people

US Bank Earnings Jump 11.9 Percent in 4Q; Loan Losses Up
U.S. bank earnings jumped 11.9 percent in the final three months of 2015 from a year earlier; losses on loans up for 1st time in 5 ½ years

Stocks Move Lower on Wall Street as Commodities Prices Fall
Stocks move lower on Wall Street as the market gives back some of a big gain from the day before

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