Federal Reserve sees economy improving
NEW YORK (CNNMoney) — The Federal Reserve believes the economy is improving, but not enough to warrant a change in its stimulative policies just yet. The 17 members of the Federal Open Market Committee revised their economic forecasts Wednesday, predicting the unemployment rate will fall to between 7.8% and 8% by the end of the [...]
Read MoreBurger King to use eggs from cage-free hens
NEW YORK (CNNMoney) — Breakfast at Burger King is about to get more humane. The nation’s No. 2 fast food chain announced an agreement Wednesday with the Humane Society of the United States to switch to eggs from hens not kept in cages, and to only use pork products from pigs also not kept [...]
Read MoreApple literally does rule the world
NEW YORK (CNNMoney) — If you are waiting for the Apple “bubble” to pop, you might be doing so for a very long time. Apple defied the skeptics Tuesday, blowing away earnings and sales forecasts. Shares of Apple surged 9% Wednesday and are now back to within about 5% of their all-time high. I think the [...]
Read MoreThe nobody knows anything market
NEW YORK (CNNMoney) — Good news. First-quarter profits may turn out to be pretty healthy. Bad news. Investors don’t seem to care. Stocks fell Thursday despite better-than-expected earnings from Bank of America (BAC, Fortune 500) and Morgan Stanley (MS, Fortune 500), as well as strong results from Verizon (VZ, Fortune 500), eBay (EBAY, Fortune 500) and Travelers (TRV, Fortune 500). Investors [...]
Read MoreObama tightens oil and gas drilling regulations
NEW YORK (CNNMoney) — The Obama administration tightened regulations on the oil and gas industry Wednesday, requiring drillers to capture emissions of certain air pollutants from new wells. But in a nod to industry concerns that the rules were being enacted too quickly, the Environmental Protection Agency said companies can burn the pollutants at the [...]
Read MoreStocks retreat amid ‘lingering anxieties’
NEW YORK (CNNMoney) — U.S. stocks pulled back modestly Wednesday, as investors found new reasons to worry about Europe’s economy. Less-than-stellar earnings from two big tech companies added to the sluggishness. The Dow Jones industrial average (INDU) slipped 60 points, or 0.5%. The S&P 500 (SPX) lost 3 points, or 0.2%. The Nasdaq (COMP) moved [...]
Read MoreECONOMY IS ON TRACK
NEW YORK (CNNMoney) — CSX investors might want to be singing along with The Yardbirds today. Train kept-a-rollin’ all night long! The railroad owner reported first-quarter sales and earnings after the closing bell Tuesday that beat forecasts. Shares of CSX (CSX, Fortune 500) still dipped Wednesday, in line with a broader market sell-off. But the strong numbers [...]
Read MoreApple: We didn’t stifle e-book rivals
NEW YORK (CNNMoney) — Apple has responded to an antitrust lawsuit from the U.S. Department of Justice, saying it fostered, not quelled, competition in the electronic publishing industry. “The DOJ’s accusation of collusion against Apple is simply not true,” said Apple spokesman Tom Neumayr in a statement to CNN on Thursday. “The launch of the [...]
Read More