Tech, communications stocks push US indexes to more records

Wall Street capped a milestone-setting week Friday with a few more as modest gains nudged the major stock indexes to all-time highs. The benchmark S&P 500 index also notched its second-straight weekly gain. Technology stocks powered much of the market's broad gains, along with communication services companies...

Global stocks inspired by US rally, hopes for Chinese growth

Global stocks rose Friday, seemingly buoyed by high spirits on Wall Street, as new data suggested China's economic slowdown may have stabilized and Washington and Beijing signed a trade deal. European indexes were broadly higher, while markets in Shanghai, Tokyo and Hong Kong closed with gains, after the U.S.'s...

Gap dumps plans to spin off Old Navy as a separate entity

NEW YORK (AP) — Gap Inc. says it no longer intends to spin off Old Navy as a separate public company. The retailer said Thursday that its board scuttled the move after determining it would be too costly and complex, especially given the company's recent struggles. Its stock was up about 5% in after-hours...

Nation's largest retail trade group: holiday sales rose 4.1%

NEW YORK (AP) — The nation's largest retail trade group says holiday sales increased 4.1%, the top end of its forecast. The National Retail Federation had expected growth in a range of 3.8% to 4.2% for the November and December period. The growth is nearly double the 2.1% growth seen during the holiday...

Confident consumers lift US retail sales in December

WASHINGTON (AP) — U.S. retail sales rose at a solid pace last month, evidence that Americans were willing to spend during the winter holidays after a sluggish November. The Commerce Department said Thursday that retail sales increased 0.3% in December from the previous month. Excluding sales at car dealers...

US shoppers lift retail sales a solid 0.3% last month after sluggish start to holidays

UCLA receives $25M gift from head of Japanese retail giant

LOS ANGELES (AP) — The University of California, Los Angeles has received a $25 million donation from Tadashi Yanai, the founder and CEO of Japanese clothing giant Uniqlo, the school announced Wednesday. The money will endow a center named for Yanai devoted to the study of Japanese literature, language and...

Target, like other retailers, did not have a Merry Christmas

Target reported a rare shortfall in holiday sales, raising concerns about the challenges ahead for the traditional retail industry even as the economy remains strong. Target's disappointing growth of 1.4% percent for November and December, dragged down by toys and electronics, fell well below the previous year....

Want to sell on Amazon? Businesses must weigh pros, cons

NEW YORK (AP) — While many small manufacturers and retailers believe Amazon is the place to be, Lyris Autran is forgoing the opportunity. Autran wants to keep the prices on her leashes, bowls and other products for dogs competitive. It costs money to sell on Amazon.com — a 15% fee on each sale and...

California may require beverage makers to handle recycling

SACRAMENTO, Calif (AP) — California lawmakers are considering upending the state’s struggling bottle and can recycling program by requiring beverage distributors to create a new system to take back their own containers, similar to one that has been successful in neighboring Oregon. A state Senate...