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  • "It is unclear at this point whether or not this move up in the trend reflects issues seasonally adjusting the data around the holidays or if it represents a more meaningful deterioration in the labor market," said Daniel Silver, an economist at JP Morgan in New York. State-level data for the week ending Jan. 10 showed an increase in claims in the oil-producing...

  • Southwest beats Street 4Q forecasts Thursday, 22 Jan 2015 | 8:39 AM ET

    DALLAS— Southwest Airlines Co.' s fourth-quarter net income slipped 10 percent due to the effect of fuel-hedging contracts that lost value as oil prices tumbled, but the company's results beat Wall Street expectations. That reduces Southwest's spending— labor surpassed fuel as the airline's biggest single expense in 2014. And it should get better— Southwest...

  • WASHINGTON— Treasury Secretary Jacob Lew dismissed efforts in Congress to overhaul the nation's tax laws by lowering the top income tax rate paid by individuals, saying lawmakers should instead focus on simplifying taxes paid by businesses. "I don't think that there's any advantage in pretending that there aren't big disagreements on the individual tax...

  • WASHINGTON— Macau, the Chinese territory known for casino gambling, outperformed the rest of the world's major cities economically last year, according to a report out Thursday. Cities in the developing world, especially China, dominated the top of the annual economic rankings of 300 cities worldwide by the Brookings Institution and JPMorgan Chase.

  • The Brookings Institution and JPMorgan Chase ranked 300 major cities worldwide for economic performance last year.

  • House committee passes border security bill Wednesday, 21 Jan 2015 | 10:26 PM ET

    House GOP leaders scheduled the bill for a floor vote next week, as Republicans sought to demonstrate that they can chart their own course on immigration— not just oppose President Barack Obama. Michael McCaul of Texas, chairman of the House Committee on Homeland Security. Conservatives who have scuttled past attempts by GOP leaders to deal with immigration...

  • Reports: Google planning to sell wireless phone service Wednesday, 21 Jan 2015 | 9:35 PM ET

    SAN FRANCISCO— Google is planning to sell wireless phone service directly to consumers using the networks of Sprint and T-Mobile, according to reports published Wednesday. If everything falls into place, Google Inc. could offer discounted wireless data plans that would pressure other major carriers to offer better deals and services or risk losing...

  • Jan 21- Motiva Enterprises confirmed on Wednesday that maintenance activities had begun at its Port Arthur, Texas, refinery. The 600,250 barrel-per-day refinery, the largest in the United States, informed its neighbors about the scheduled work during the next several weeks, according to a message on a community information phone line on Wednesday.

  • Jan 21- Motiva Enterprises confirmed on Wednesday that maintenance activities had begun at its Port Arthur, Texas, refinery. The 600,250 barrel-per-day refinery, the largest in the United States, informed its neighbors about the scheduled work during the next several weeks, according to a message on a community information phone line on Wednesday.

  • WASHINGTON, Jan 21- Most U.S. states expect to hit their revenue targets this fiscal year, but at least six states say they could fall short, the National Conference of State Legislatures said on Wednesday. Alaska, Arizona, Kentucky, Massachusetts, Michigan, and Vermont all expect to miss their revenue forecasts, according to the report. New Mexico and Indiana are...

  • Staff launched a number of proposals at a meeting of the Financial Stability Oversight Council, a group of regulators that acts to identify which parts of the financial system are "too big to fail" and would threaten the overall system if they landed in trouble. The acknowledgement that the process could be improved comes at a critical time, as insurer MetLife...

  • Kinder Morgan names Kean CEO to succeed Richard Kinder Wednesday, 21 Jan 2015 | 5:31 PM ET

    HOUSTON— Kinder Morgan Inc. said Wednesday that its founder Richard Kinder will step down as CEO in June and serve as chairman of the company. Kinder Morgan announced separately that it is acquiring oil and gas processing company Hiland Partners in a deal worth $3 billion, including roughly $1 billion in debt. Kinder Morgan says the purchase will give it access...

  • Jan 21- Kinder Morgan Inc, the top U.S. pipeline company, on Wednesday said co-founder Rich Kinder will step down as chief executive this summer in a long-expected move. Last year, Kinder presided over an unusual $44 billion deal that folded the company's master limited partnerships under one publicly traded corporation, Kinder Morgan Inc. It now has a market...

  • Kinder Morgan acquires Hiland Partners Wednesday, 21 Jan 2015 | 5:11 PM ET

    HOUSTON— Kinder Morgan says it is acquiring oil and gas processing company Hiland Partners in a deal worth $3 billion, including roughly $1 billion in debt. Kinder Morgan says the deal will give it access to some of the Bakken's most attractive and economically viable areas. Kinder Morgan says the acquisition will add modestly to its cash available to pay...

  • Texas Capital meets 4Q profit forecasts Wednesday, 21 Jan 2015 | 5:01 PM ET

    DALLAS _ Texas Capital Bancshares Inc. on Wednesday reported fourth-quarter net income of $37.8 million. The average estimate of analysts surveyed by Zacks Investment Research was also for earnings of 78 cents per share. Analysts expected $137.9 million, according to Zacks.

  • SALT LAKE CITY— Two brothers of polygamous sect leader Warren Jeffs can cite their religion in refusing to answer some questions about suspected child labor violations on a Utah pecan farm, a federal judge ruled Wednesday. Nephi and Lyle Jeffs, considered high-ranking sect members, testified in a Salt Lake City courtroom that the doctrine of The...

  • WASHINGTON— Treasury Secretary Jacob Lew dismissed efforts in Congress to overhaul the nation's tax laws by lowering the top income tax rate paid by individuals, saying Wednesday that Democrats and Republicans are too far apart to forge such a sweeping package. Instead, Lew said, lawmakers should focus on simplifying taxes paid by businesses, an approach that...

  • Crown Castle beats Street 4Q forecasts Wednesday, 21 Jan 2015 | 4:33 PM ET

    HOUSTON _ Crown Castle International Corp. on Wednesday reported fourth-quarter net income of $148.1 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 31 cents per share. For the current quarter ending in March, Crown Castle expects its per-share...

  • WASHINGTON, Jan 21- President Barack Obama's administration recently sent a blunt message to small business owners who worry tax reform could leave them paying higher income tax rates than corporations: Consider going corporate yourselves. In a closed-door meeting with lobbyists on Jan. 13, Treasury Secretary Jack Lew fielded questions on whether it would...

  • WASHINGTON— The Obama administration is moving closer to its goal of 9.1 million people signed up for private coverage under the president's health care law. The Health and Human Services Department says at least 400,000 people signed up last week. National figures should be significantly higher because the federal count doesn't include major states such...