Top News & Analysis Charlotte

  • WASHINGTON, Jan 18- U.S. consumer prices rose in December as households paid more for gasoline and rental accommodation, leading to the largest year-on-year increase in 2-1/ 2 years and signaling that inflation pressures could be building. "Further momentum in consumer prices could add to the perception of a more hawkish Fed and the potential for more...

  • CHARLOTTE, N.C.— North Carolina- based home improvement retailer Lowe's says it's told approximately 2,400 full-time workers that they will be laid off. Lowe's CEO Robert Niblock told employees in an email that the changes "will better align store staffing with customer demand, shift resources from back-of-the-store activities to customer-facing ones, and...

  • WASHINGTON— Stimulating private investment in infrastructure projects, as President-elect Donald Trump has proposed, can cover only a fraction of the costs of solving America's transportation problems, Transportation Secretary Anthony Foxx warned as he prepares to leave office. Financing schemes called public-private partnerships, which involve...

  • *Retail sales increase 0.6 percent in December. WASHINGTON, Jan 13- U.S. retail sales rose in December amid strong demand for automobiles and furniture, providing further evidence that the economy ended the fourth quarter with momentum and is poised for stronger growth this year. "This is not the picture of an economy that requires the support of the central...

  • The Charlotte, N.C.- based lender's earnings surged 47 percent in the quarter through Dec. 31 to $4.34 billion, or 40 cents a share, from $2.95 billion, or 27 cents a share, a year earlier. Excluding items, the bank earned 42 cents per share, beating analysts' average estimate of 38 cents, according to Thomson Reuters I/B/E/S. Although Bank of America's overall revenue...

  • Bank of America's fourth-quarter profit jumped 47 percent from a year ago as the nation's largest consumer bank benefited from higher interest rates and lower expenses. The Charlotte, North Carolina- based bank said it earned a profit of $4.34 billion after payments to preferred shareholders, or 40 cents per share, up from $2.95 billion, or 27 cents a share, in the...

  • *Weekly jobless claims increase 10,000. WASHINGTON, Jan 12- The number of Americans filing for unemployment benefits rose less than expected last week, pointing to a tightening labor market that is starting to spur faster wage growth. Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 247,000 for the week ended Jan. 7, the...

  • Opponents of North Carolina's HB2 law limiting bathroom access for transgender people protest in the gallery above the state's House of Representatives chamber as the legislature considers repealing the controversial law in Raleigh, North Carolina, U.S. on December 21, 2016.

    The state's legislature ignores what's clearly in the best economic interests of the state because they can, NBC News reports.

  • WASHINGTON, Dec 23- New U.S. single-family home sales rose more than expected in November and consumer sentiment hovered near a 13- year high this month, strengthening the view that the economy will gain further momentum next year. "Home buyers are confident in their futures and this means the outlook is likely to be brighter next year than we thought," said Chris...

  • Dec 21- U.S. stocks were little changed in muted pre-holiday trading on Wednesday as investors paused, a day after the Nasdaq Composite and the Dow Jones Industrial Average hit record highs. "The 20,000 mark is just a number, but it's also a nice chance to step back and plan for the coming year," said Ryan Detrick, senior market strategist at LPL Financial in Charlotte,...

  • Dec 21- U.S. stocks eased in muted pre-holiday trading on Wednesday as investors paused a day after the Nasdaq Composite and the Dow Jones Industrial Average hit record highs. "The 20,000 mark is just a number, but it's also a nice chance to step back and plan for the coming year," said Ryan Detrick, senior market strategist at LPL Financial in Charlotte, North Carolina.

  • NEW YORK, Dec 16- Benchmark U.S. stock index rallies, in anticipation of fiscal stimulus measures by the incoming administration of President-elect Donald Trump, could also be laying the seeds for equity market troubles from a stronger dollar and rising bond yields. "We are putting fuel on the fire here potentially, because nothing has actually happened,...

  • CHARLOTTE, N.C., Dec 16- The Federal Reserve will likely need to raise interest rates more than three times next year and faces challenges in gradually cooling off the U.S. economy, Richmond Fed President Jeffrey Lacker said on Friday. "If we get behind, it's hard to really calibrate," Lacker said during a panel discussion in Charlotte, North Carolina.

  • CHARLOTTE, N.C., Dec 16- The U.S. economy will likely receive some fiscal stimulus under the Trump administration, and a burst of demand could push the Federal Reserve to raise interest rates more quickly, Richmond Fed President Jeffrey Lacker said on Friday.

  • Dec 16- U.S. stock index futures were higher on Friday, with all three major indexes on track to post weekly gains and the Dow pushing towards the 20,000 mark. *The Fed sees three rate hikes next year instead of the two foreseen in September, partly as a result of the expected economic benefits under President-elect Donald Trump. *U.S. stocks have been on a tear since the...

  • *Retail sales rise 0.1 percent in November. *Core retail sales increase 0.1 percent. WASHINGTON, Dec 14- U.S. retail sales barely rose in November and industrial production recorded its biggest drop in eight months, suggesting some loss of momentum in economic growth in the fourth quarter.

  • *Retail sales rise 0.1 percent in November. WASHINGTON, Dec 14- U.S. retail sales barely rose in November and industrial production recorded its biggest drop in eight months, suggesting some loss of momentum in economic growth in the fourth quarter. "Consumer spending remains the main engine of growth for the economy," said Harm Bandholz, chief U.S. economist at...

  • *Retail sales rise 0.1 percent in November. WASHINGTON, Dec 14- U.S. retail sales barely rose in November and industrial production recorded its biggest drop in eight months, suggesting some loss of momentum in economic growth in the fourth quarter. "Consumer spending remains the main engine of growth for the economy," said Harm Bandholz, chief U.S. economist at...

  • NEW YORK- Federal Reserve chair Janet Yellen holds a news conference- 1930 GMT. **HELSINKI- Bank of Finland Governor and European Central Bank council member Erkki Liikanen will speak at a news conference focused on the outlook of Finnish economy and the state of the country's public finances- 0900 GMT. FRANKFURT- European Central Bank governing council meeting.

  • FRANKFURT- European Central Bank governing council meeting. NEW YORK- Federal Reserve chair Janet Yellen holds a news conference- 1930 GMT. WASHINGTON- Federal Reserve Board holds open meeting to discuss a final rule establishing long-term debt and total loss-absorbing capacity requirements for global systemically important banking organizations- 1600...