The number of Americans filing new claims for unemployment benefits increased more than expected last week, but the rise probably does not suggest a shift in labor market conditions as the underlying trend continued to point to strength. Initial claims for state unemployment benefits rose 24,000 to a seasonally adjusted 329,000 for the week ended April 19, the Labor Department said on Thursday.
Orders for long-lasting U.S. manufactured goods rose more than expected in March and a measure of business capital spending plans surged, bolstering views of an acceleration in growth in the second quarter. The Commerce Department said on Thursday durable goods orders increased 2.6 percent as demand rose across all categories. Durable goods range from toasters to aircraft and are meant to last three years.
Caterpillar's first-quarter earnings climbed 5 percent, and the construction equipment maker raised its 2014 forecast. But the company also said Thursday that a mining equipment sales slump is still hurting results.
Studies show locally owned businesses are a primary source of net new job creation. Yet independent businesses in many sectors are losing market share, while the number of new startups has steadily fallen over the last two decades. Insufficient capital is a key culprit driving these trends.
(Reuters) - American Airlines Group , the world's largest carrier formed in a late 2013 merger, on Thursday reported a profit of $480 million, or 65 cents a diluted share, for the first quarter. The profit compared with a loss of $341 million a year earlier, which reflects results of AMR Corp prior to the merger with US Airways Group. Quarterly revenue was nearly $10 billion. (Reporting by Karen Jacobs in Atlanta)
RICHMOND, Va. (AP) — Altria Group Inc.'s first-quarter profit dropped 15 percent as the Marlboro maker sold fewer cigarettes and its year-ago results benefited lower expenses from a longstanding legal settlement.
By Natalie Huet PARIS (Reuters) - Shares in Alstom jumped more than 14 percent on Thursday after a report that U.S. conglomerate General Electric was in talks to buy the struggling French turbine and train maker for about $13 billion. If confirmed, a takeover offer from a foreign company would raise eyebrows among politicians and unions in France, where Alstom employs around 18,000 staff, or 20 percent of its global workforce. A deal, which would be GE's biggest ever and would hand it control of Alstom's high-speed TGV trains and rail-signal technology, has the support of Bouygues , Alstom's biggest shareholder with a 29 percent stake, the report said. Alstom, which has put its transport division up for sale in an attempt to fill a hole in its balance sheet, said on Thursday it was "not informed of any potential public tender offer for the shares of the company" and promised an update on its options when it releases annual results on May 7.
General Motors Co on Thursday posted lower quarterly profit after a massive recall due to defective ignition switches linked to at least 13 deaths, but results still topped Wall Street expectations on strong pricing for its vehicles, especially in North America. Excluding a charge mostly for the devaluation of the Venezuelan currency, GM earned 29 cents a share, far better than the 4 cents analysts expected, according to a poll by Thomson Reuters I/B/E/S. Some GM ignition switches can make vehicle engines stall while operating, stop airbags from deploying, and power steering and power brakes from operating.
(Reuters) - Caterpillar Inc on Thursday posted quarterly profit that topped estimates and raised its full-year outlook on a stronger-than-expected rebound in sales to the construction industry. With restructuring costs factored in, Caterpillar made a profit of $1.44 a share. Analysts, on average, expected the company to report a profit of $1.24 a share on sales of $13.15 billion, according to Thomson Reuters I/B/E/S. Caterpillar raised its full-year earnings outlook to $6.10 per share, up from $5.85, citing growing demand from builders.
Since its founding 60 years ago, McDonald's has played a near-ubiquitous role in pop culture. At times, it can feel like there's an ad for or reference to Ronald McDonald or the golden arches at nearly every turn. That's what's made so many criticisms of the $100 billion chain's controversial nutritional, labor and advertising practices so memorable. In protest of this overwhelming "McDonaldization" of society, a term first coined in 1993 by sociologist George Ritzer, artists around the world have created some highly vivid pieces that assail the symbols of McDonald's omnipresence. ...
NEW YORK (Reuters) - Verizon Communications Inc said on Thursday its quarterly revenue rose 4.8 percent after its acquisition of Vodafone's 45 percent share in their prior joint venture for $130 billion gave the company access to greater amounts of cash flow. The No. 1 U.S. mobile provider earned $5.98 billion, or $1.15 cents per share, in the first quarter, compared with $4.86 billion, or 68 cents per share, in the year-ago quarter. Revenue rose to $30.8 billion. (Reporting By Marina Lopes)
(Reuters) - Time Warner Cable Inc , the second-largest U.S. cable operator, reported first-quarter profit above analysts' estimates as it added more residential subscribers than expected for its high-speed data services. The company, which is in the middle of a $45.2 billion acquisition by Comcast Corp , lost 34,000 residential video subscribers in the first quarter on a net basis, fewer than the 77,300 analysts had expected. Time Warner Cable's quarterly profit jumped 19.5 percent to $479 million, or $1.70 per share, in the first quarter ended March 31. Time Warner Cable's shares closed at $139.87 on Wednesday on the New York Stock Exchange.
By Ryan Vlastelica NEW YORK (Reuters) - U.S. stock index futures were higher on Thursday, with Nasdaq futures jumping more than 1 percent following a pair of blowout results from technology stalwarts Apple and Facebook. * Apple Inc in particular will be in focus a day after the most valuable U.S. company by market capitalization posted revenue that far outpaced expectations, helped by strong iPhone sales. Shares rose 7.7 percent to $565 in heavy premarket trading. * Social media giant Facebook Inc posted a 72 percent jump in first-quarter revenue, lifted by its mobile advertising business.
(Reuters) - Transatlantic exchange operator Nasdaq OMX Group Inc on Thursday reported a higher first-quarter profit, helped by increased revenue from recent acquisitions. Net income attributable to Nasdaq rose to $103 million, or 59 cents per share, from $42 million, or 25 cents per share, a year earlier. Excluding one-time deal-related items, the New York-based company earned 72 cents per share, topping the analysts' average estimate by a penny, according to Thomson Reuters I/B/E/S. Revenue rose 27 percent to $529 million. ...