Business Highlights
WASHINGTON (AP) — The Federal Reserve has given the green light to many major banks in the U.S. to raise dividends and buy back shares, judging them to have a sturdy enough to withstand a major economic downturn.
NEW YORK (AP) — Banks and other financial companies led another broad surge in U.S. stocks Wednesday, turning the Dow Jones industrial average and the Standard & Poor's 500 index slightly positive for the year.
The overall numbers underscore that consumer spending, which accounts for about 70 percent of U.S. economic activity, picked up in the spring after getting off to a slow start in 2016.
Overall home sales have steadily improved over the past year but buyers are facing a shortage of available homes that might have curtailed pending sales.
The financing unit of General Electric Co. won approval from federal regulators Tuesday to drop its designation as a "systematically important financial institution," a title that comes with added scrutiny and stricter rules.
The world's largest retailer is offering a free 30-day trial on its two-day unlimited shipping service, and an extra month free for paying members, as it looks to sharpen its attack against the online leader.
MINNEAPOLIS (AP) — General Mills' fiscal fourth-quarter results beat analysts' expectations as the packaged food company worked on slashing costs and refreshing its product lineup amid struggling sales.
The decline reflected a drop in volume, and to a lesser degree, unfavorable foreign exchange rates.
The social media giant says it updated the news feed so that people will see more posts from their friends and family and not, say, the by New York Times or Buzzfeed.
SAN FRANCISCO (AP) — Using smartphone sensors to peek over its drivers' shoulders, Uber is promising to keep a closer eye on their behavior — while discouraging speeding or slamming on the brakes.
The global ride-hailing company on Wednesday announced an extensi