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U.S. stocks sank Wednesday, and the Dow Jones industrial average fell more than 200 points, on disappointing economic news and a slide in airlines stocks over Ebola fears.
September sales won’t be as hot as August, the best month in eight years, but industry analysts still expect them to be strong. Most predict sales rose around 10 percent from a year ago.
Tesco, one of the world’s largest food retailers, says U.K. authorities are conducting a full investigation after its half-year profit was overstated by $407 million.
General Mills plans to cut between 700 and 800 jobs, the second time it’s trimmed its work force in a month, as the food company adjusts for a shift by U.S. consumers away from boxed or frozen meals.
Ireland appears to be granting Apple illegal tax rebates that may have to be recouped, the European Union’s competition watchdog said Tuesday as it pressed on with an inquiry into the iPhone maker’s overseas tax practices.
Walgreen booked a $239 million loss in its fiscal fourth quarter after swallowing a huge accounting charge from its Alliance Boots acquisition, but the drugstore chain’s results still met Wall Street expectations.
Ford shares tumbled Monday after the automaker said it will fall short of its full-year profit goals.
Toyota says it is recalling 690,000 Tacoma pickup trucks because the rear leaf springs could break, puncture the gas tank and cause a fire.
Honeywell International Inc. said Monday that it is partnering with Tata Power to help make navigation systems for India’s military.
U.S. safety regulators are looking into a consumer’s petition alleging that older Toyota Corollas can accelerate unexpectedly at low speeds and cause crashes.
Concerns over high stock prices and global politics continued to plague markets Monday as major stock indexes ended with slight losses in another day of choppy trading. Pro-democracy protests in Hong Kong, a major world financial center, added to the host of political concerns on investors’ minds.
Sue Gin, who vastly improved the quality of airline food with her company Flying Food Group, died Friday morning. She had suffered a stroke Tuesday.
Chrysler is recalling nearly 350,000 older cars and SUVs to fix defective ignition switches that can cause the vehicles to stall.
The number of people seeking U.S. unemployment benefits increased last week after falling sharply two weeks ago. Despite the rise, the level of applications remains near pre-recession levels, a sign that hiring will likely remain healthy. READ MORE …
Sales of US new homes soar in August
U.S. sales of new homes surged in August, led by a wave of buying in the West and Northeast. The Commerce Department said Wednesday that new-home sales climbed 18 percent last month to a seasonally adjusted annual rate of 504,000. The report also revised up …