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Alabama

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  • Supreme Court: Alabama may try to justify railroad tax Wednesday, 4 Mar 2015 | 10:23 AM ET

    WASHINGTON— The Supreme Court ruled Wednesday that Alabama should have the chance to justify a fuel sales tax that it assesses on railroads but not on competitors in the trucking and barge industries. Alabama officials said the tax system was fair because truckers already pay a different 19- cent per gallon tax on diesel fuel. Justice Clarence Thomas filed a...

  • MOBILE, Ala.— All marriages halted in 1 of Alabama's largest cities after state high court bans gay weddings.

  • WASHINGTON, March 3- The Senate Banking Committee on Tuesday launched its effort to pursue reforms at the Federal Reserve, with the central bank's regional structure among the topics that came into the panel's cross-hairs. This month, outgoing Dallas Fed President Richard Fisher said the Fed should revamp its rules to address perceptions of conflicts of...

  • WASHINGTON, March 3- The chairman of the U.S. Senate Banking Committee said on Tuesday that the Federal Reserve is not immune from congressional oversight. Senator Richard Shelby said at a Fed reform committee hearing on Tuesday that the panel will explore reforming the Fed system, as the Alabama Republican and other lawmakers add pressure to the U.S. central...

  • Tom Wolf on Tuesday proposed more than $4 billion in higher state taxes on income, sales and natural gas drilling to support new spending on schools and to cut property taxes as part of an overhaul of the way public education is funded. Wolf, a Democrat, is also asking the Republican-controlled Legislature to cut corporate taxes by hundreds of millions of dollars,...

  • NEW ORLEANS— A federal lease sale offering 21 million acres in the western Gulf of Mexico for oil and gas exploration and development is set for August. The Bureau of Ocean Energy Management announced Monday that the sale of leases for areas off the Texas coast will take place in New Orleans. The August sale of leases for western Gulf tracts will follow a planned...

  • House Roll Call: Approving 1-week DHS funding bill Friday, 27 Feb 2015 | 10:25 PM ET

    The 357-60 roll call Friday by which the House approved a bill to fund the Homeland Security Department for one week. The bill goes to President Barack Obama for his signature. Republicans— Aderholt, X; Brooks, N; Byrne, Y; Palmer, N; Roby, Y; Rogers, Y.

  • MIAMI— As Florida lawmakers appear ready to allow key portions of the state's high-stakes gambling deal with the Seminole to expire, other gambling interests are watching keenly for openings in the multi-billion dollar industry if the tribe and Gov. The tribe owns six casinos in Florida, including the highly profitable Hard Rock Casinos in South Florida and...

  • JACKSON, Miss.— An employee being sued by Southern Co. will get another four weeks to work out his defense and look for a lawyer, but won't be able to sue the company or talk about his employment dispute in the meantime. An Alabama state court judge on Friday extended a temporary restraining order that also bans Brett Wingo from talking about his work for Southern...

  • NASHVILLE, Tenn.— State Senate Speaker Ron Ramsey said Thursday that it may have been "a mistake" for Tennessee to subsidize the development of the General Motors plant outside Nashville because it has a United Auto Workers union contract. Republican lawmakers have grumbled about the United Auto Workers union's ongoing role at the plant, and Ramsey pointed to...

  • Infinity Property and Casualty posts 4Q profit Thursday, 26 Feb 2015 | 11:42 AM ET

    BIRMINGHAM, Ala. _ Infinity Property and Casualty Corp. on Thursday reported fourth-quarter net income of $21.4 million. Infinity Property and Casualty expects full-year earnings in the range of $4 to $4.50 per share. Infinity Property and Casualty shares have declined slightly more than 1 percent since the beginning of the year.

  • WASHINGTON— The Supreme Court ruled Wednesday that a state regulatory board made up mostly of dentists violated federal law against unfair competition when it tried to prevent lower-cost competitors in other fields from offering teeth-whitening services. Justice Anthony Kennedy said in his majority opinion that the Federal Trade Commission was right...

  • ProAssurance beats 4Q profit forecasts Tuesday, 24 Feb 2015 | 6:07 PM ET

    BIRMINGHAM, Ala. _ ProAssurance Corp. on Tuesday reported fourth-quarter profit of $65.1 million. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share. ProAssurance shares have increased roughly 3 percent since the beginning of the year.

  • HealthSouth beats Street 4Q forecasts Tuesday, 24 Feb 2015 | 4:45 PM ET

    BIRMINGHAM, Ala.— HealthSouth Corp. on Tuesday reported fourth-quarter net income of $42.1 million, after reporting a loss in the same period a year earlier. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share. HealthSouth said revenue growth of 7.2 percent year-over-year reflects a 4.7 percent...

  • WASHINGTON, Feb 24- Tough questions aimed at Federal Reserve Chair Janet Yellen from a rising force in the Democratic Party on Tuesday showed how the U.S. central bank is facing increasing pressure from both sides of the political aisle. "I urge you... to assess whether the leadership of the Fed's staff is on the same page as the Federal Reserve Board," Senator...

  • State-by-state breakdown of used cars with open recalls Tuesday, 24 Feb 2015 | 12:18 PM ET

    Carfax, a company that sells vehicle history reports to dealers and car buyers, searched recalls and state registration databases and found that more than 46 million cars are on U.S. roads with recalled parts that have yet to be repaired. Here is a state-by-state breakdown of cars with unfixed recalls in 2014:. Source: Study of 2014 state registration data by...

  • WASHINGTON, Feb 24- The Federal Reserve is preparing to consider interest rate hikes "on a meeting-by-meeting basis," Fed Chair Janet Yellen told a congressional committee on Tuesday in a subtle change of emphasis in how the U.S. central bank has spoken about its plans for its first rate hike since 2006.. In prepared remarks to the Senate Banking Committee, Yellen...

  • Yellen navigates tricky path on interest rates Tuesday, 24 Feb 2015 | 10:01 AM ET

    WASHINGTON— Federal Reserve Chair Janet Yellen said Tuesday that the U.S. economy is making steady progress, but for now the Fed is sticking with patience in raising interest rates because the labor market is still healing and inflation is too low. In her semiannual economic report to Congress, Yellen sought to explain how the Fed would begin raising rates from...

  • WASHINGTON, Feb 24- The Federal Reserve is preparing to consider interest rate hikes "on a meeting by meeting basis," Fed Chair Janet Yellen told a congressional committee on Tuesday in a subtle change of emphasis in how the Fed has been speaking about its plans for the first interest rate increase since 2006.. In prepared remarks to the Senate Banking Committee...

  • NEW YORK— Stifel Financial Corp. is buying rival financial services firm Sterne Agee for $150 million, boosting its presence in money management and fixed income. It's the latest move by Stifel, whose other large purchases include the investment advisory unit of Legg Mason last year, the investment bank KBW in 2013 and Thomas Weisel in 2010..