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Top News & Analysis Michigan

  • DES MOINES, Iowa— Republican governors from seven states are calling for dramatic changes to Medicaid, which provides insurance to more than 70 million low-income Americans, as they nervously watch President Donald Trump and GOP congressional leaders move to repeal and replace the Obama-era health law. According to a draft of the proposal obtained by The...

  • WASHINGTON, Feb 24- New U.S. single-family home sales rose less than expected in January, likely held back by heavy rains and flooding in California, but continued to point to a strengthening housing market despite higher prices and mortgage rates. Consumers are confident and are buying homes, but builders are not getting their share of that demand, "said Joel...

  • FRANKFURT, Feb 24- General Motors has told PSA Group it would only sell licenses for the manufacture of Opel cars to the French company if it agreed not to sell them in North America, Russia or China, German magazine Der Spiegel reported. Without saying where it got the information, the magazine said under such an agreement Opel would only be allowed to sell new...

  • WARREN, Mich. _ Universal Truckload Services Inc. on Thursday reported fourth-quarter earnings of $2.7 million. On a per-share basis, the Warren, Michigan- based company said it had net income of 10 cents. For the year, the company reported profit of $24.2 million, or 85 cents per share.

  • "We have prayerfully looked at all possible options, trusting God's plan for our organization, and the difficult decision to liquidate is our only recourse," Chuck Bengochea, the company's president, said in a statement. The chain filed for Chapter 11 bankruptcy in February 2015 with more than $120 million in debt in the face of a sales slump amid growing...

  • BLOOMFIELD HILLS, Mich. _ Agree Realty Corp. on Thursday reported a key measure of profitability in its fourth quarter. The Bloomfield Hills, Michigan- based real estate investment trust said it had funds from operations of $16.6 million, or 64 cents per share, in the period. The average estimate of nine analysts surveyed by Zacks Investment Research was for funds...

  • Those attending the Mexico's Manufacturing Supply Chain Summit said that NAFTA, the 23- year-old trade agreement between the U.S., Mexico and Canada, generates billions in trade annually but said they are convinced it will be renegotiated and not eliminated. The forum happened as Secretary of State Rex Tillerson visited Mexico amid what many consider is the...

  • SAN FRANCISCO, Feb 23- Tesla Inc Chief Elon Musk has taken big risks repeatedly since going public in 2010, but investors were spooked on Thursday after he said the electric car company could get "close to the edge" as it burns cash ahead of its crucial Model 3 launch. Facing yet another cash crunch, Tesla will likely be forced to head to Wall Street for more capital,...

  • Russia's Defense Minister Sergei Shoigu and Russias President Vladimir Putin (L-R in the middle) attend a concert marking Defender of the Fatherland Day at Moscow's Kremlin, February 23, 2017.

    Here are some of the key stories CNBC is following this hour.

  • DETROIT— A Volkswagen executive who was arrested in the U.S. before he could fly home to Germany has appeared in Detroit federal court on charges related to the company's emissions scandal. Schmidt was manager of a VW office in suburban Detroit from 2012 to 2015. He was arrested at the Miami airport on Jan. 7 after a vacation in Florida and Cuba.

  • WASHINGTON, Feb 23- The number of Americans filing for unemployment benefits rose slightly last week but the four-week average of such claims, considered a better gauge, fell to a 43-1/ 2- year low in a sign of a strengthening labor market. "All indications are that job creation remains solid, underscoring the resiliency of the nearly eight-year economic recovery,"...

  • WASHINGTON, Feb 23- The number of Americans filing for unemployment benefits rose slightly last week but the four-week average of such claims, considered a better gauge, fell to a 43-1/ 2- year low in a sign of a strengthening labor market. "All indications are that job creation remains solid, underscoring the resiliency of the nearly eight-year economic recovery,"...

  • NEW YORK, Feb 23- L3 Technologies Inc said on Thursday it reached a $34.5 million settlement of a lawsuit by shareholders who accused the defense contractor of accounting fraud in its aerospace systems business. Shareholders led by two Michigan pension plans accused L3 of hiding improprieties, including those raised by an internal management-level...

  • DETROIT— Car shopping isn't just about kicking the tires anymore. It's also about testing the technology. "Spend some time in the parking lot sitting in the car and just messing with it," says Ron Montoya, senior consumer advice editor for the car shopping site Edmunds.com.

  • SOUTHFIELD, Mich. _ Sun Communities Inc. on Thursday reported a key measure of profitability in its fourth quarter. The Southfield, Michigan- based real estate investment trust said it had funds from operations of $69.2 million, or 91 cents per share, in the period. The average estimate of three analysts surveyed by Zacks Investment Research was for funds from...

  • CHARLOTTE, Mich. _ Spartan Motors Inc. on Thursday reported fourth-quarter net income of $942,000, after reporting a loss in the same period a year earlier. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share. Spartan Motors expects full-year earnings in the range of 30 cents to 36 cents per share,...

  • VAN BUREN TOWNSHIP, Mich. _ Visteon Corp. on Thursday reported fourth-quarter profit of $2 million. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.36 per share. Six analysts surveyed by Zacks expected $794.7 million.

  • WASHINGTON— With states seizing the initiative on shaping the future of self-driving cars, General Motors is trying to persuade lawmakers across the country to approve rules that would benefit the automaker while potentially keeping its competitors off the road. GM began by getting a bill passed last year on its home turf, in Michigan. This year, bills similar...

  • WASHINGTON— When a summer thunderstorm knocked out power to Scott Pruitt's home three years ago, the then-attorney general of Oklahoma reached out to a lobbyist for American Electric Power. The 2013 email exchange is one of dozens reviewed by The Associated Press that underscore the cozy ties between the new head of the Environmental Protection Agency and...

  • PARIS— The chairman of French carmaker PSA Group wants to create a "European car champion" with the potential purchase of General Motors' European car business, and pledged to work with governments and unions worried over job cuts. Speaking in Paris Thursday, Tavares said PSA's ambition to buy GM's loss-making German subsidiary Opel and its British brand...