Business Highlights

first_img___UK’s May wins vote to keep job, Brexit chaosLONDON (AP) — British Prime Minister Theresa May’s government has survived a no-confidence vote called after May’s Brexit deal was overwhelmingly rejected by lawmakers. The House of Commons expressed confidence in the government by 325 votes to 306, meaning May can remain in office. Had the government lost, Britain would have faced an election within weeks while preparing to leave the European Union on March 29.___Sears staves off liquidation, stores to remain openNEW YORK (AP) — Sears will live on— at least for now. The company’s chairman and largest shareholder won a bankruptcy auction for Sears in New York, averting liquidation of the iconic chain, according to a source familiar with the negotiations. The move, which still needs the approval of a bankruptcy judge, would allow Eddie Lampert to keep open roughly 400 stores and preserve tens of thousands of jobs that come with them.___From travel to IPOs, how shutdown is upsetting US economyWASHINGTON (AP) — Ian Shepherdson, chief economist at Pantheon Macroeconomics, projects that after growing for nearly 10 years, the economy might contract in this year’s first quarter if the shutdown lasts through March. Other forecasts are less dire. Mark Zandi, chief economist at Moody’s Analytics, thinks that if the shutdown extends that long, the economy would slow by 0.5 percentage point but would remain on solid footing.___Fed survey finds businesses worried by political uncertaintyWASHINGTON (AP) — The Federal Reserve said Wednesday business contacts in many regions of the country are expressing less optimism amid a host of adverse developments, from plunging stock prices to uncertainty about a widening trade war. In its latest report on economic conditions around the country, the Fed said that eight of its 12 regions reported the economy was expanding at a moderate pace as the new year began.___John Bogle, Vanguard founder, dies at 89VALLEY FORGE, Pa. (AP) — John Bogle, investing pioneer and founder of Vanguard Group, who brought index funds to millions of investors, dies at age 89, the company says. Bogle simplified investing for the masses by introducing the first index mutual fund for individual investors in 1976. Vanguard also shook up the industry by ending the company’s reliance on outside brokers by directly marketing its funds to investors without charging upfront fees known as sales loads.___Hyundai, Kia recall vehicles due to increased fire riskDETROIT (AP) — Despite a government shutdown, Hyundai and Kia are moving ahead with a recall of about 168,000 vehicles to fix a fuel pipe problem that can cause engine fires. The problem stems from improper repairs during previous recalls for engine failures. In addition, each automaker also will do a “product improvement campaign” covering a total of 3.7 million vehicles to install software that will alert drivers of possible engine failures.___Sinclair debuts streaming service for its local TV stationsNEW YORK (AP) — Sinclair Broadcast, the nation’s largest owner of television stations, is launching a free, ad-supported streaming service. It will draw on local news, sports and other programs from the 191 TV stations it owns in 89 U.S. markets. The service will also have separate digital channels for movies, sports and even poker and NASA TV. The company joins an ever-growing list of streaming service players, including Netflix, Amazon and upcoming offerings from Disney and NBCUniversal.___Study: Top US firms are diversifying their boards fasterNEW YORK (AP) — A study has found that America’s largest companies added women and minorities to their boards of directors at a faster pace over the past two years, a period when sexual harassment scandals thrust workplace equality into the spotlight. African-American and Asian women made the biggest gains, though their overall numbers remain small. That’s according to the 2018 Board Diversity Census, released Wednesday by the Alliance for Board Diversity and the consulting firm Deloitte.___Big bank rally helps US stocks finish higher; Goldman soarsNEW YORK (AP) — U.S. stocks finish higher after Goldman Sachs had its best day in 10 years and Bank of America rose the most in seven years as banks and other financial companies report strong fourth-quarter results. Stocks were on track for larger gains before the Wall Street Journal reported that the U.S. government may bring criminal charges against Chinese tech company Huawei, adding to U.S.-China trade tensions. U.K. stocks ticked lower after Parliament rejected Prime Minister May’s Brexit deal.___The S&P 500 index gained 5.80 points, or 0.2 per cent, to 2,616.10. The Dow Jones Industrial Average added 141.57 points, or 0.6 per cent, to 24,207.16. The Nasdaq composite rose 10.86 points, or 0.2 per cent, to 7,034.69. The Russell 2000 index rose 9.48 points, or 0.7 per cent, to 1,454.70.Benchmark U.S. crude added 0.4 per cent to $52.31 per barrel in New York. Brent crude, the international standard, rose 0.1 per cent to $61.37 a barrel in London. Wholesale gasoline edged up 0.3 per cent to $1.42 a gallon and heating oil rose 1.2 per cent to $1.89 a gallon. Natural gas fell 3.3 per cent to $3.38 per 1,000 cubic feet.The Associated Presslast_img

first_img___UK’s May wins vote to keep job, Brexit chaosLONDON (AP) — British Prime Minister Theresa May’s government has survived a no-confidence vote called after May’s Brexit deal was overwhelmingly rejected by lawmakers. The House of Commons expressed confidence in the government by 325 votes to 306, meaning May can remain in office. Had the government lost, Britain would have faced an election within weeks while preparing to leave the European Union on March 29.___Sears staves off liquidation, stores to remain openNEW YORK (AP) — Sears will live on— at least for now. The company’s chairman and largest shareholder won a bankruptcy auction for Sears in New York, averting liquidation of the iconic chain, according to a source familiar with the negotiations. The move, which still needs the approval of a bankruptcy judge, would allow Eddie Lampert to keep open roughly 400 stores and preserve tens of thousands of jobs that come with them.___From travel to IPOs, how shutdown is upsetting US economyWASHINGTON (AP) — Ian Shepherdson, chief economist at Pantheon Macroeconomics, projects that after growing for nearly 10 years, the economy might contract in this year’s first quarter if the shutdown lasts through March. Other forecasts are less dire. Mark Zandi, chief economist at Moody’s Analytics, thinks that if the shutdown extends that long, the economy would slow by 0.5 percentage point but would remain on solid footing.___Fed survey finds businesses worried by political uncertaintyWASHINGTON (AP) — The Federal Reserve said Wednesday business contacts in many regions of the country are expressing less optimism amid a host of adverse developments, from plunging stock prices to uncertainty about a widening trade war. In its latest report on economic conditions around the country, the Fed said that eight of its 12 regions reported the economy was expanding at a moderate pace as the new year began.___John Bogle, Vanguard founder, dies at 89VALLEY FORGE, Pa. (AP) — John Bogle, investing pioneer and founder of Vanguard Group, who brought index funds to millions of investors, dies at age 89, the company says. Bogle simplified investing for the masses by introducing the first index mutual fund for individual investors in 1976. Vanguard also shook up the industry by ending the company’s reliance on outside brokers by directly marketing its funds to investors without charging upfront fees known as sales loads.___Hyundai, Kia recall vehicles due to increased fire riskDETROIT (AP) — Despite a government shutdown, Hyundai and Kia are moving ahead with a recall of about 168,000 vehicles to fix a fuel pipe problem that can cause engine fires. The problem stems from improper repairs during previous recalls for engine failures. In addition, each automaker also will do a “product improvement campaign” covering a total of 3.7 million vehicles to install software that will alert drivers of possible engine failures.___Sinclair debuts streaming service for its local TV stationsNEW YORK (AP) — Sinclair Broadcast, the nation’s largest owner of television stations, is launching a free, ad-supported streaming service. It will draw on local news, sports and other programs from the 191 TV stations it owns in 89 U.S. markets. The service will also have separate digital channels for movies, sports and even poker and NASA TV. The company joins an ever-growing list of streaming service players, including Netflix, Amazon and upcoming offerings from Disney and NBCUniversal.___Study: Top US firms are diversifying their boards fasterNEW YORK (AP) — A study has found that America’s largest companies added women and minorities to their boards of directors at a faster pace over the past two years, a period when sexual harassment scandals thrust workplace equality into the spotlight. African-American and Asian women made the biggest gains, though their overall numbers remain small. That’s according to the 2018 Board Diversity Census, released Wednesday by the Alliance for Board Diversity and the consulting firm Deloitte.___Big bank rally helps US stocks finish higher; Goldman soarsNEW YORK (AP) — U.S. stocks finish higher after Goldman Sachs had its best day in 10 years and Bank of America rose the most in seven years as banks and other financial companies report strong fourth-quarter results. Stocks were on track for larger gains before the Wall Street Journal reported that the U.S. government may bring criminal charges against Chinese tech company Huawei, adding to U.S.-China trade tensions. U.K. stocks ticked lower after Parliament rejected Prime Minister May’s Brexit deal.___The S&P 500 index gained 5.80 points, or 0.2 per cent, to 2,616.10. The Dow Jones Industrial Average added 141.57 points, or 0.6 per cent, to 24,207.16. The Nasdaq composite rose 10.86 points, or 0.2 per cent, to 7,034.69. The Russell 2000 index rose 9.48 points, or 0.7 per cent, to 1,454.70.Benchmark U.S. crude added 0.4 per cent to $52.31 per barrel in New York. Brent crude, the international standard, rose 0.1 per cent to $61.37 a barrel in London. Wholesale gasoline edged up 0.3 per cent to $1.42 a gallon and heating oil rose 1.2 per cent to $1.89 a gallon. Natural gas fell 3.3 per cent to $3.38 per 1,000 cubic feet.The Associated Presslast_img

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