Business
Asia stock markets edge up after big sell-off
Asian stock markets staged a mild recovery Friday, a day after being routed by unexpectedly weak Chinese manufacturing and fears the Federal Reserve will start withdrawing its monetary stimulus. Japan's Nikkei 225 index, which plummeted more than 7 percent Thursday, bounced back a sizeable 2.8 percent to 14,892.57. South Korea's ...
Procter & Gamble brings back A.G. Lafley as CEO
Procter & Gamble Co. is bringing back its former CEO, as the world's largest consumer-products maker tries to spur global growth. In a surprise move, P&G said Thursday that former CEO A.G. Lafley, a 33-year industry veteran, is returning to the Cincinnati company's helm. Lafley, 65, replaces CEO Bob McDonald, ...
87-year-old woman loses to Trump in civil case
An 87-year-old grandmother took on billionaire Donald Trump. And on Thursday, she lost. Jurors sided with the real estate mogul-turned-TV showman in a weeklong civil trial focused on Jacqueline Goldberg's claim that Trump cheated her in a bait-and-switch scheme connected to condos in a Chicago skyscraper he built. The federal ...
Sears reports bigger-than-expected 1Q loss
It was another ugly quarter for Sears Holdings Corp. The beleaguered department-store chain reported a steeper-than-expected loss for its first quarter on slumping sales. It also announced that it is considering selling its protection-agreement business in an ongoing effort to raise cash as it struggles to reverse its fortunes. The ...
Hobby Lobby tests birth-control coverage mandate
In the most prominent challenge of its kind, Hobby Lobby Stores Inc. asked a federal appeals court Thursday for an exemption from part of the federal health care law that requires it to offer employees health coverage that includes access to the morning-after pill. The Oklahoma City-based arts-and-crafts chain argued ...
New rules for labeling meat go into effect in US
Shoppers in the U.S. will soon have more information about where their meat comes from after new federal labeling rules went into effect Thursday. The rules require labels on steaks, ribs and other cuts of meat to say where the animal was born, raised and slaughtered. Earlier U.S. Department of ...
Gap back in style as 1Q profit jumps 43 percent
After years of struggle, Gap is back in style. Gap Inc., which owns The Gap, Old Navy and Banana Republic clothing chains, on Thursday reported a 43 percent jump in its fiscal first-quarter net income, as the company continues to reap benefits from the turnaround plan that it began early ...
Ralph Lauren's 4Q profit rises 35 pct
Ralph Lauren Corp. reported a 35 percent increase in fourth-quarter profit as the luxury retailer benefited from lower cotton prices and cost controls. But the seller of Polo and other brands saw its stock fall Thursday because its revenue fell below Wall Street expectations amid poor weather, economic challenges in ...
Stocks edge lower as investors reassess Fed fears
Investors recovered their poise after a shaky start to trading on Wall Street that sent stocks sharply lower. U.S. markets plummeted immediately after the opening bell Thursday following a global slump prompted partly by an unexpected slowdown in Chinese manufacturing. Concern that the Federal Reserve might ease back on its ...
House backs variable rate student loans
Dismissing a veto threat from President Barack Obama, lawmakers in the House passed legislation that links student loan rates to the ups and downs of the financial markets in a vote largely along party lines. The Republican-backed bill would allow students to dodge a scheduled rate hike for students with ...
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