×

Top News & Analysis Charlotte

  • *Tesla jumps on solid quarterly results. Aug 3- The S&P 500 and the Nasdaq fell on Thursday, weighed down by Amazon.com, Apple and other top-shelf technology stocks, while the Dow Jones Industrial rose marginally and was on track for a record high close. Silicon Valley electric carmaker Tesla jumped 6.50 percent reporting quarterly results above Wall Street's...

  • NEW YORK, Aug 2- New York state's banking and insurance regulator issued subpoenas on Tuesday to two Wells Fargo& Co units after the bank said it had sold auto insurance to hundreds of thousands of customers who did not need it. The New York Department of Financial Services is demanding Wells' loan contracts with New York borrowers, its financing agreements with...

  • WASHINGTON, July 28- The U.S. economy likely accelerated in the second quarter as consumers ramped up spending and businesses invested more on equipment, which would confirm that the sluggish performance early in the year was temporary. The Commerce Department will release its advance second-quarter GDP estimate on Friday at 8:30 a.m. EDT.

  • *Core capital goods orders fall 0.1 percent in June. WASHINGTON, July 27- Shipments of key U.S.-made capital goods increased in June for a fifth straight month, suggesting that business spending on equipment helped to boost economic growth in the second quarter. The only risk we see is that the economy is running out of workers to do the heavy lifting and make us...

  • *Core capital goods orders fall 0.1 percent in June. WASHINGTON, July 27- New orders for key U.S.-made capital goods unexpectedly fell in June, but a fifth straight monthly increase in shipments suggested that business spending on equipment helped to boost economic growth in the second quarter. The only risk we see is that the economy is running out of workers to...

  • WASHINGTON, July 18- U.S. import prices fell for a second straight month in June amid further declines in the cost of petroleum products, suggesting inflation could remain benign in the near term. "The focus should be on the dollar," said John Ryding, chief economist at RDQ Economics in New York. The Labor Department said on Tuesday that import prices decreased 0.2...

  • All of our businesses delivered strong results, with several setting new records, "said Chief Executive Officer Brian Moynihan said. The bank's total revenue of $23.07 billion handsomely beat the average analyst estimate of $21.78 billion. Earnings per share came in at 46 cents, topping the estimate of 43 cents.

  • Thursday's data from the Labor Department underscored labor market buoyancy and suggested that there was enough momentum in the economy to generate some inflation, even though price pressures still remain moderate. Inflation isn't slip-sliding away from the Fed's goal, "said Chris Rupkey, chief economist at MUFG in New York. Initial claims for state...

  • NEW YORK, July 12- The Dow rose to a record high close while U.S. stocks kept their upward momentum Wednesday following Federal Reserve Chair Janet Yellen's congressional testimony to gradually raise interest rates. Yellen's speech was a nod to Wall Street as the Fed signaled it will gradually tighten policy and gradually unwind its massive balance sheet.

  • WASHINGTON, July 11- U.S. job openings fell in May from a record high amid a surge in hiring, but an increase in the number of Americans voluntarily quitting their jobs suggested the labor market remained robust. Job openings, a measure of labor demand, decreased 301,000 to a seasonally adjusted 5.7 million, the Labor Department said in its monthly Job Openings and...

  • WASHINGTON, July 7- U.S. employers likely stepped up hiring in June and boosted wages for workers, signs of labor market strength that could keep the Federal Reserve on course for a third interest rate increase this year. According to a Reuters survey of economists, the Labor Department's closely watched employment report on Friday will probably show that...

  • July 3- Bankrate, an online publisher of personal finance content, said on Monday it would be acquired by digital marketing company Red Ventures for $1.24 billion. Charlotte, North Carolina- based Red Ventures' investors include Silver Lake Partners and General Atlantic. Simpson Thacher& Bartlett LLP is Red Ventures' legal adviser.

  • June 30- Warren Buffett's company will become the biggest shareholder in Bank of America Corp, after Berkshire Hathaway Inc on Friday invoked its right to acquire 700 million shares of the second-largest U.S. bank. Berkshire will take a roughly 7 percent ownership stake, worth about $17 billion based on Bank of America's closing price of $24.32 on Thursday.

  • June 30- Warren Buffett's Berkshire Hathaway Inc will swap its preferred shares in Bank of America Corp into common shares worth about $17 billion, making it the biggest shareholder of lender. Buffett had bought $5 billion of Bank of America preferred stock with a 6 percent dividend, or $300 million annually, in August 2011, when investors worried about the...

  • June 28- Warren Buffett's Berkshire Hathaway Inc may be on the verge of becoming Bank of America Corp's largest shareholder, after the bank raised its dividend in the wake of a positive assessment of its ability to handle market stresses. Bank of America on Wednesday boosted its annual dividend 60 percent to 48 cents per share from 30 cents, beginning in the third...

  • Bank of America has begun laying off employees in its operations and technology division, part of the second-largest U.S. bank's plan to cut costs.

  • On Wednesday the bank cut jobs across that division, many of which came from its Charlotte, N.C., headquarters, a spokesman said. The cuts come as Bank of America is aiming to cut costs to boost financial targets Chief Executive Brian Moynihan has set. Separately, at a conference on Wednesday, Chief Operating Officer Tom Montag said the global banking and markets...

  • WASHINGTON, June 14- U.S. consumer prices unexpectedly fell in May and retail sales recorded their biggest drop in 16 months, suggesting a softening in domestic demand that could limit the Federal Reserve's ability to continue raising interest rates this year. "The latest inflation data have undoubtedly helped the case of officials arguing for waiting more...

  • WASHINGTON, June 14- U.S. consumer prices unexpectedly fell in May and retail sales recorded their biggest drop in 16 months, suggesting a softening in domestic demand that could limit the Federal Reserve's ability to continue raising interest rates this year. "For the Fed, today's reports are a twin disappointment," said Michael Hanson, chief economist at TD...

  • June 8- AvidXchange, a software company that helps mid-sized companies automate their invoicing and bill payments, said on Thursday it raised $300 million from investors including Mastercard, Silicon valley investor Peter Thiel and Canada's second largest public pension fund. Temasek Holdings Pte Ltd, a Singapore state investor, also contributed to the...