As many as 11 other states and Washington, D.C., are expected to consider increases in 2014. USA Today reports.» Read More
Sandra Pianalto, who is stepping down at the end of May after 10 years as president of the Cleveland Fed, said however the cost of those policies needs to be measured against possible market disruptions and financial instabilities. "It's important for us to weigh those potential costs of a program like this... against the benefits," she said at the College of Wooster.
COLUMBUS, Ohio-- L Brands Inc., the owner of Victoria's Secret, Bath& Body Works and other retailers, says that its fourth-quarter profit jumped 19 percent as the prior year was weighed down by special charges. L Brands earned $489.6 million, or $1.65 per share, for the quarter that ended Feb. 1 versus $411.4 million, or $1.39 per share, in the prior year.
*Target and Lowe's rally after results. *J.C. Penney shares jump after the bell. Target Corp and Lowe's Cos Inc shares jumped following upbeat earnings and gave the biggest boosts to the S&P 500. An S&P 500 retail index gained more than 1 percent for a second day.
Congress faces a Sept. 30 deadline to renew federal funding for transportation programs, and the Highway Trust Fund that helps pay for road and bridge projects is teetering on insolvency.
*Target and Lowe's rally after results. Target Corp and Lowe's Cos Inc shares jumped following upbeat earnings and gave the biggest boosts to the S&P 500. An S&P 500 retail index gained more than 1 percent for a second day.
WASHINGTON, Feb 26- The U.S. House of Representatives' top tax writer released a comprehensive tax code overhaul on Wednesday, but it was widely seen as dead-on-arrival in a Congress still deeply divided over fiscal policy.
WASHINGTON, Feb 26- American consumers are wide open to some of the most sophisticated scam artists ever as vast troves of their personal information are collected by data brokers and sometimes sold with no questions asked, according to the Federal Trade Commission's consumer protection chief.
WASHINGTON, Feb 26- The U.S. House of Representatives' top Republican tax writer will release a plan on Wednesday to overhaul the tax code, but it was widely seen as dead-on-arrival in a Congress still deeply divided over fiscal policy.
NEW ALBANY, Ohio-- Abercrombie& Fitch's fourth-quarter net income fell 58 percent, dragged down by a number of one-time charges, including costs tied to the closure of the retailer's Gilly Hicks stores. Abercrombie& Fitch has undergone a series of changes recently. For the period ended Feb. 1, Abercrombie& Fitch earned $66.1 million, or 85 cents per share.
WASHINGTON, Feb 25- Joking that he would blast off in an "Iron Man" suit, President Barack Obama on Tuesday announced that two new manufacturing institutes aimed at creating quality jobs would be located in the Midwest cities of Chicago and Detroit.
TORONTO, Feb 25- Canadian coffee and doughnut chain Tim Hortons Inc said on Tuesday that it will open at least 800 new restaurants over the next five years under a strategic plan to secure its dominance in Canada and boost returns in the United States.
WASHINGTON, Feb 25- President Barack Obama planned to announce on Tuesday that two new manufacturing institutes aimed at creating quality jobs would be located in Chicago and Detroit and be supported by $140 million in federal funds, the White House said in a statement.
*Sears, Whirlpool were sued over moldy washers. By refusing to hear the appeals in three lawsuits, the court allowed claims against Whirlpool Corp, Sears Holdings Corp and a unit of Germany's BSH Bosch und Siemens Hausgeraete GmbH to move forward as class actions in lower courts.
Feb 23- Private equity firm Cinven Ltd has agreed to acquire pharmaceutical contract research organization Medpace Inc from buyout firm CCMP Capital Advisors LLC for a little over $900 million, two people familiar with the matter said on Sunday.
Feb 21- Detroit's blueprint for dealing with $18 billion in debt and emerging from municipal bankruptcy requires cuts to worker pensions and even deeper cuts for bondholders, setting the stage for a new round of negotiations and court challenges.
"Upon consideration of the petitions to appeal and the responses thereto, a direct appeal to this court is warranted," the 6th U.S. Circuit Court of Appeals in Cincinnati said in an order filed on Friday. A federal bankruptcy judge in a landmark December ruling said Detroit was eligible to pursue its bankruptcy case.
Shares fall in Vallourec, Tenaris, U.S. The U.S. Department of Commerce launched an investigation last July in response to a petition from producers including Europe's Tenaris, Vallourec North American companies Northwest Pipe Company and U.S.
*Shares fall in European companies Vallourec and Tenaris. PARIS, Feb 19- Shares in steel tube makers Tenaris and Vallourec tumbled on Wednesday after U.S. trade authorities decided not to impose tariffs on the South Korean imports that compete with their products.
PARIS, Feb 19- Shares in seamless steel tube makers Tenaris and Vallourec tumbled on Wednesday after U.S. trade authorities decided not to impose tariffs on the South Korean imports that compete with their products.
On Monday, Alcoa Inc said it will close its 50- year-old Point Henry aluminium smelter and two rolling mills in Australia after a two-year review. Russia's Rusal estimates that producers outside of China eliminated up to 1.2 million tonnes of capacity last year and further reductions of 1 million-1.5 million tonnes are expected in 2014..