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Top News & Analysis Charlotte

  • WASHINGTON, May 31- Contracts to buy previously owned U.S. homes fell for a second straight month in April amid a supply squeeze, but the housing market recovery remains supported by a strong labor market. The National Association of Realtors said on Wednesday its Pending Home Sales Index, based on contracts signed last month, dropped 1.3 percent to 109.8.

  • WASHINGTON, May 23- New U.S. single-family home sales tumbled from near a 9-1/ 2- year high in April, but the housing recovery likely remains intact amid a tightening labor market. The Commerce Department said on Tuesday new home sales declined 11.4 percent to a seasonally adjusted annual rate of 569,00 units last month, with sales in the West region plunging to...

  • May 11- U.S. stocks fell on Thursday after worse-than-expected sales drops at Macy's and Kohl's sparked a selloff in shares of department stores and stirred fears that consumers are not spending enough to drive strong economic growth. Kohl's dropped 7.86 percent after it reported a drop in quarterly sales, while shares of Nordstrom and J.C.

  • May 11- U.S. stocks fell on Thursday after worse-than-expected sales drops at Macy's and Kohl's sparked a selloff in shares of department stores and stirred fears that consumers are not spending enough to drive strong economic growth. Kohl's dropped 6.2 percent after it reported a drop in quarterly sales, while shares of Nordstrom and J.C.

  • Financials were off 0.87 percent as losses in Wells Fargo and Bank of America weighed. "Any market pullback, if orderly, are healthy as long as the underlying fundamentals for the market are strong," said Matthew Peterson, chief wealth strategist at LPL Financial in Charlotte, North Carolina. Strong corporate earnings, robust economic data and expectations of...

  • *ISM manufacturing activity index falls to 54.8 in April. WASHINGTON, May 1- U.S. factory activity slowed in April while consumer spending was unchanged in March and a key inflation measure recorded its first monthly drop since 2001, but economists still expect an interest rate increase in June as the labor market tightens. "We don't expect that will prevent the...

  • NEW YORK, April 21- U.S. stocks have struggled since the timeline for the Trump administration's pro-growth agenda came into question, but investors appear confident that next week's deadline that could shut down the federal government will not become another market hurdle. Funding for a proposed border wall with Mexico or stripping federal resources from...

  • NEW YORK, April 21- U.S. stocks have struggled since the timeline for the Trump administration's pro-growth agenda came into question, but investors appear confident that next week's deadline that could shut down the federal government will not become another market hurdle. Funding for a proposed border wall with Mexico or stripping federal resources from...

  • The second-largest U.S. bank said net income attributable to shareholders rose to $4.35 billion in the three months ended March 31 from $3.02 billion a year earlier. Earnings per share rose to 41 cents per share from 28 per share. The Charlotte, North Carolina- based bank's shares were up about 1 percent at $23.05 in premarket trading.

  • April 10- An investigation by Wells Fargo& Co's board laid blame for the company's unauthorized accounts scandal on a high-pressure sales culture and a retail executive obsessed with stamping out negative views about her division. The report, carried out by board Chairman Stephen Sanger and three other independent directors and released to media on Monday,...

  • The report, carried out by board Chairman Stephen Sanger and three other independent directors and released to media on Monday, said former retail division head Carrie Tolstedt ignored the systemic nature of abusive sales practices and accused her of obstructing the board's efforts to get to the bottom of an issue that festered for years.

  • The probe into how the San Francisco- based bank could have allowed abusive sales practices to fester for years at its branch network laid most of the blame on the former head of the retail division, Carrie Tolstedt, and some of her management team, in a report released to media on Monday. In the report, which was carried out by the bank's chairman Stephan Sanger and...

  • The probe into how the San Francisco- based bank could have allowed abusive sales practices to fester for years at its branch network laid most of the blame on the former head of the retail division, Carrie Tolstedt, and some of her management team, in a report released to media on Monday. In the report, which was carried out by the bank's chairman Stephan Sanger and...

  • NEW YORK, April 7- Wall Street's top banks see the Federal Reserve laying out by year end its plan to scale back reinvestments in Treasuries and mortgage-backed securities in order to begin shrinking its $4.5 trillion balance sheet, a Reuters poll showed on Friday. The median view of 11 dealers was for the Fed to eventually shrink its balance sheet to $2.75...

  • NEW YORK, April 7- Wall Street's top banks see the Federal Reserve laying out by year end its plan to scale back reinvestments in Treasuries and mortgage-backed securities in order to begin shrinking its $4.5 trillion balance sheet, a Reuters poll showed on Friday. The median view of 11 dealers was for the Fed to eventually shrink its balance sheet to $2.75...

  • *Nonfarm payrolls forecast increasing 180,000 in March. WASHINGTON, April 7- U.S. job growth likely slowed in March after unseasonably mild weather boosted hiring over the prior two months, but the pace of gains should underscore the economy's strength despite a recent slowdown in economic growth. The Labor Department will release its closely watched...

  • WASHINGTON, March 31- U.S. consumer spending barely rose in February amid delays in the payment of income tax refunds, but the biggest annual increase in inflation in nearly five years supported expectations of further interest rate hikes this year. The slowdown in consumer spending reported by the Commerce Department on Friday is, however, likely to be...

  • WASHINGTON, March 29- Contracts to buy previously owned U.S. homes jumped to a 10- month high in February, pointing to robust demand for housing ahead of the busy spring selling season. The report on Wednesday from the National Association of Realtors suggested higher home prices and mortgage rates were having little impact on the housing market for now,...

  • NEW YORK, March 28- Wall Street followed gains in stocks globally on Tuesday after U.S. consumer confidence soared to a more than 16- year high, while the U.S. dollar bounced from a four-month low to post its best day in nearly a month. On Wall Street, cyclical sectors led the way higher after the strong consumer confidence data boosted investor views that the U.S....

  • March 27- Sealed Air Corp said it would sell its cleaning and chemicals systems division, Diversey Care, and its food hygiene and cleaning business to Bain Capital Private Equity for about $3.2 billion, as it focuses on its higher-margin businesses. Sealed Air acquired Diversey in 2011 from its controlling shareholders, the Johnson family and private equity...