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The U.S. economy grew at a 3.6 percent annual rate from July through September, the fastest since early 2012. But nearly half the growth came from a buildup in business stockpiles, a trend that could reverse in the current quarter and hold back growth.
The White House is pushing to extend jobless benefits to long-term unemployed Americans. The argument is that if benefits don’t get renewed by the end of the month, more than a million people will lose the assistance — which will slow economic growth.
BP is leading an industrywide push to develop technology that can retrieve oil from formations that are so deep under the sea floor, and under such high pressure and temperature, that conventional equipment would melt or be crushed by the conditions.
Stocks were mostly lower on Wall Street on Thursday as retailers report poor results.
A federal agency said Wednesday that Fifth Third Bancorp will pay $6.5 million to settle charges of improper accounting of commercial real estate loans during the financial crisis.
Activist investor Carl Icahn is seeking the support of Apple shareholders as he tries to pressure the iPhone maker into spending more of its cash to buy back the company’s stock.
Ametek Inc. said Wednesday it has acquired privately held Powervar for about $128 million. Waukegan-based Powervar makes power protection equipment used by the medical, retail and telecommunication industries.
Walgreen Co. says revenue from its established stores rose 3.2 percent last month compared to November 2012, when a wave of generic drugs hurt the top-line of the nation’s largest drugstore chain.
Alabama faces a Dec. 10 deadline to respond to Boeing Co., which is seeking proposals from several states hoping to land an aircraft assembly plant.
US Airways said Wednesday that per-seat passenger revenue fell 4 percent in November because of the late timing of the Thanksgiving holiday.
The European Commission has fined a group of major global banks a total of $2.3 billion for colluding to profit from the interest rates market. The banks, which include JP Morgan, Citigroup and HSBC, are accused of manipulating for years European and Japanese benchmark interest rates that affect hundreds of billions of dollars in contracts globally, from mortgages to credit card bills.
German police say they have arrested two people and seized illegally generated bitcoins worth more than $950,000 in an investigation of computer fraud.
The stock market continued its sluggish start to the month on Wednesday. Stocks fell as investors weighed conflicting economic reports and assessed the outlook for the Federal Reserve’s economic stimulus program.
Employers can require their workers to sign arbitration agreements waiving all rights to class-action lawsuits over workplace grievances, a federal appeals court ruled Tuesday.
A New York state parole board agreed Tuesday to release former Tyco chief executive Dennis Kozlowski on parole after more than eight years in prison for his conviction in a $134 million corporate fraud case.