Latest Business News
US growth slowed sharply last quarter to 1.6% pace, reflecting an economy pressured by high rates
WASHINGTON (AP) — The nation’s economy slowed sharply last quarter to a 1.6% annual pace in the face of high interest rates, but consumers — the main driver of economic growth — kept spending at a solid pace. Thursday’s report from the Commerce Department said the gross...
Coca-Cola FEMSA: Q1 Earnings Snapshot
MEXICO CITY (AP) — MEXICO CITY (AP) — Coca-Cola FEMSA SAB (KOF) on Wednesday reported net income of $295 million in its first quarter. The Mexico City-based company said it had profit of $1.40 per share. The bottling company posted revenue of $3.76 billion in the...
Cullen/Frost: Q1 Earnings Snapshot
SAN ANTONIO (AP) — SAN ANTONIO (AP) — Cullen/Frost Bankers Inc. (CFR) on Thursday reported first-quarter earnings of $135.7 million. The San Antonio-based bank said it had earnings of $2.06 per share. Earnings, adjusted for non-recurring costs, were $2.15 per share. ...
Utah Medical: Q1 Earnings Snapshot
MIDVALE, Utah (AP) — MIDVALE, Utah (AP) — Utah Medical Products Inc. (UTMD) on Thursday reported net income of $4 million in its first quarter. The Midvale, Utah-based company said it had profit of $1.09 per share. The medical device maker posted revenue of $11.3...
That's rich: Rise in all-cash transactions helping drive price gains for most expensive US homes
LOS ANGELES (AP) — Well-heeled home shoppers are increasingly paying cash, helping turbo-charge price gains for the most expensive U.S. homes. The median sale price of luxury homes, or those valued in the top 5% of the market nationally, hit an all-time high $1.23 million in the...
Union Pacific's first-quarter profit creeps up 1% as railroad limits expenses
OMAHA, Neb. (AP) — Union Pacific's first-quarter profit crept 1% higher as the railroad tightened up on expenses — particularly its fuel bill — even though it delivered slightly less freight. The Omaha, Nebraska-based railroad said Thursday it made $1.64 billion, or $2.69 per...
Tough new EPA rules would force coal-fired power plants to capture emissions or shut down
WASHINGTON (AP) — Coal-fired power plants would be forced to capture smokestack emissions or shut down under a rule issued Thursday by the Environmental Protection Agency. New limits on greenhouse gas emissions from fossil fuel-fired electric plants are the Biden administration's...
US applications for jobless claims fall to lowest level in 9 weeks
Fewer Americans applied for unemployment benefits last week as the labor market continues to hold up despite higher interest rates imposed by the Federal Reserve in its bid to curb inflation. The Labor Department reported Thursday that unemployment claims for the week ending April 20...
OSI: Fiscal Q3 Earnings Snapshot
HAWTHORNE, Calif. (AP) — HAWTHORNE, Calif. (AP) — OSI Systems Inc. (OSIS) on Thursday reported fiscal third-quarter earnings of $34 million. The Hawthorne, California-based company said it had net income of $1.95 per share. Earnings, adjusted for one-time gains and costs, came to...
HarborOne Bancorp: Q1 Earnings Snapshot
BROCKTON, Mass. (AP) — BROCKTON, Mass. (AP) — HarborOne Bancorp Inc. (HONE) on Thursday reported first-quarter profit of $7.3 million. The Brockton, Massachusetts-based bank said it had earnings of 17 cents per share. The results topped Wall Street expectations....
