President Barack Obama unveils his final White House budget on Tuesday with a blueprint for fiscal year 2017 that will lay out his spending proposals for priorities from fighting Islamic State to providing for the poor. The budget for the fiscal year beginning on Oct. 1 is largely a political document and is unlikely to be passed by the Republican-controlled...» Read More
The Federal Deposit Insurance Corp. seized GulfSouth Private Bank, based in Destin, Fla.. The failure of GulfSouth Private Bank, which had four branches, is expected to cost the deposit insurance fund $36.1 million. GulfSouth Private Bank is the sixth FDIC- insured institution in Florida to fail this year.
WASHINGTON-- A proposed settlement in a class-action lawsuit brought by retailers and trade groups against Visa Inc. and MasterCard Inc. fails to protect merchants from abuse by credit card companies, a national retail group says.
NEW YORK-- Standard& Poor's Ratings Services on Friday lowered its rating on solid waste services company Waste Connections Inc. because of its plan to acquire R360 Environmental Solutions Inc. for about $1.3 billion in cash. S&P lowered its corporate credit rating on Waste Connections one step from "BBB" to "BBB-," which is still investment grade.
NEW YORK-- Shares of Healthways Inc. slumped Friday after the wellness program operator posted disappointing third-quarter revenue and cut is annual net income guidance because of the costs associated with new contracts. Analysts expected Healthways to report net income of 13 cents per share and $172.5 million in revenue, according to FactSet.
OKLAHOMA CITY-- The unemployment rate in Oklahoma has risen slightly for the third consecutive month _ although the number of Oklahomans with a job also increased. The Oklahoma Employment Security Commission said Friday that unemployment for September was 5.2 percent _ up from 5.1 percent in August and 4.9 percent in July.
NEW YORK-- Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:. McDonald's Corp., down $4.14 at $88.72. Chipotle Mexican Grill Inc., down $42.93 at $243.
VIRGINIA BEACH, Va.-- A new study says the statewide economic impact of an NBA team moving to Virginia Beach would be more than $500 million a year. Virginia Beach is considering whether to build a new arena near the oceanfront in hopes of luring an NBA or NHL team to town.
PITTSBURGH-- Shares Calgon Carbon Corp. fell sharply in Friday trading after the company, which makes water and air filtration systems, said it expects to report a third-quarter net loss.
MCLEAN, Va.-- Newspaper publisher and TV station owner Gannett Co. said Friday that it bought Rovion, a company that makes a self-service platform for advertisers to create rich media and mobile ads without requiring programming expertise. Rovion, which was owned by Local Corp., will become part of Gannett's PointRoll, which provides marketing services.
TRIPLE WHAMMY: Poor earnings reports from three big-name companies, all of them members of the Dow Jones industrial average, helped sink the stock market Friday. McDonald's, GE and Microsoft turned in disappointing third-quarter results and paid the price: stock declines of between 3 and 4 percent.
Poor corporate earnings reports pounded the stock market Friday in a sour end to an otherwise strong week of trading. Disappointing results from three giants of the Dow _ Microsoft, General Electric and McDonald's _ were to blame. The S&P 500 is up 4.60 points, or 0.3 percent.
FARGO, N.D.-- Milk production in North Dakota during July, August and September totaled 85 million pounds, up 2 percent from the third quarter of 2011..
CLEVELAND-- Unemployment rates fell last month in nearly all of the battleground states that will determine the presidential winner, giving President Barack Obama fresh fodder to argue that voters should stick with him in an election focused squarely on the economy.
FEELING THE CRUNCH: The country's largest organic peanut processing plant is scrubbing its facilities top to bottom and hopes to get back in production soon after a massive recall of scores of products linked to a salmonella outbreak.
BRISTOL, Conn.-- Barnes Group Inc., an aerospace and industrial parts supplier, said Friday that its board of directors has recommended declassifying the board so that all directors are elected annually.
Disappointing results from three giants of the Dow _ Microsoft, General Electric and McDonald's _ were to blame. The Nasdaq composite index, hammered by a second ugly day for Google, lost 67 points to 3,006, a 2.2 percent decline. Four stocks fell for every one that rose on the New York Stock Exchange.
MADISON, Wis.-- Wisconsin's quasi-public economic development agency lost track of $69 million in loans to businesses because no one was in charge of keeping tabs of that money.
OKLAHOMA CITY-- Despite ongoing drought conditions _ Oklahoma wheat farmers are busy planting their winter crop with what one agreed is cautious optimism. Oklahoma Wheat Commission Executive Director Mike Schulte said Friday that 75 percent of the 2012 crop is estimated to have been planted.
SIOUX FALLS, S.D.-- The U.S. Department of Agriculture says South Dakota milk production from July through September was up 6 percent from the same period last year. The USDA says milk production for the third quarter totaled 487 million pounds. That's down from 1 percent from the second quarter total of 494 million pounds.
SUDDEN STALLS: Federal safety regulators are investigating a dozen complaints that engines on Jeep Patriot SUVs can stall without warning at highway speeds of 65 miles per hour or faster. Chrysler Group LLC, the maker of Jeeps, sold another 18,000 in Canada.