Category: US
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U.S:Central bankers eye public spending to plug $1 trillion investment gap
While markets wait for Janet Yellen’s latest message about the direction of monetary policy, the Federal Reserve chief and her colleagues already have one for politicians: the U.S. economy needs more public spending to shift into higher gear. In the past few weeks, Yellen and three of the Fed’s other four Washington-based governors have called…
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U.S. inflation tame despite economy gaining momentum
U.S. consumer prices were unchanged in July but a rise in industrial output and home building suggested a pickup in economic activity that could allow the Federal Reserve to raise interest rates this year. Tuesday’s economic reports came as influential New York Fed President William Dudley said the U.S. central bank could raise interest rates…
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US economic data tests market confidence
(Close): US markets were mixed on Friday as data on retail spending and producer prices raised questions about the buoyancy of the economy. The Dow Jones was down 37.05 points to 18576.47, while the wider S&P 500 was 1.74 points lower at 2184.05. The tech-based Nasdaq climbed 4.5 points to 5232.89. US retail sales in…
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Delta Airlines to cancel over 100 flights today
Delta Airlines says it expects more than 100 flight cancellations today [Tuesday] morning as it continues to recover its operations following a loss of power Monday, August 8, 2016. In addition, the airline company says it anticipates roughly 200 delays affecting morning departures. Delta however says these numbers could grow overnight as it works to…
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Flight cancellations and delays hit Delta Airlines worldwide
US based Delta Airlines, has lifted a ground stop with limited departures resuming, following a power outage in Atlanta that impacted the airline company’s computer systems and operations worldwide. Delta however says cancellations and delays continue. In a statement to update customers on the latest developments, the company cautioned customers heading to the airport to…
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Delta Air Lines grounds flights
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Delta Air Lines said early Monday that all of its departing flights have been grounded by a global computer system outage. “Our systems are down everywhere,” it tweeted in response to disgruntled customers. Delta (DAL), the world’s second largest airline, said the problem is a power outage at its Atlanta hub, starting at about 2:30 a.m.…
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U.S. crude remains below $40 as oversupply weighs
Oil prices remained weak on Wednesday, with U.S. crude below $40 per barrel and Brent under $42, as fuel oversupply and stuttering economic growth weighed on markets, although prices did receive some support from a weaker dollar. U.S. West Texas Intermediate (WTI) crude futures CLc1 were trading at $39.54 per barrel at 0651 GMT (2:51…
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Delta’s refinery sacrifices profits for lower fuel cost – memo
Delta Air Lines Inc (DAL.N) is flooding the New York market with jet fuel from its refinery, sacrificing refining profits in order to lower the carrier’s fuel costs, according to a company memo seen by Reuters. The memo, written by the head of Delta’s Monroe Energy subsidiary, says the refinery will act against its own…
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U.S:Pfizer’s revenue, profit edge past estimates
Pfizer Inc reported better-than-expected quarterly revenue and profit, driven by sales of newer drugs and the acquisition of hospital products company Hospira. The largest U.S. drugmaker’s revenue rose about 11 percent to $13.15 billion in the second quarter, edging past the average analyst estimate of $13.01 billion. Sales of generic medicines rose 15.7 percent in…
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Facebook profits beat expectations
Facebook has posted another exceptional quarter of growth, with profit up 186% from this time last year. Facebook earned $2bn (£1.5bn) in the period from April to June, up from $719m in 2015. Analysts had anticipated revenue of $5.8bn, but the company managed to beat even those high expectations bringing in $6.4bn in revenue. Chief…