The U.S. economy is probably not as weak as current estimates suggest, a paper published Monday by the Federal Reserve Bank of San Francisco said, potentially adding to arguments for raising interest rates sooner rather than later.
United States
Stocks end mixed; Dow creeps up to new record high
U.S. stocks ended mixed on Tuesday, with the Dow rising marginally to a second straight record high, as Wall Street digested housing data that some saw as hopeful for an economy struggling to grow.
Los Angeles gives preliminary approval to $15 minimum wage
The Los Angeles City Council gave preliminary approval on Tuesday to raise the hourly minimum wage to $15 an hour by 2020 for companies with more than 25 employees, while giving smaller businesses an extra year to meet that benchmark
Wal-Mart same-store sales miss estimates as shoppers cut spending
Wal-Mart Stores Inc (WMT.N) reported lower-than-expected quarterly U.S. same-store sales growth, saying its customers were using their tax refunds and savings at the pump to pay down debt rather than spend on discretionary items.
Apple shelved plans to introduce TV set more than a year ago - WSJ
Apple Inc had scrapped plans of introducing an ultra-high-definition television set more than a year ago, Wall Street Journal said citing sources familiar with the matter.
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Billionaire investor Carl Icahn said on Monday Apple Inc's (AAPL.O) stock was "still dramatically undervalued" and that it should be trading at $240, nearly double its current price.
Oil slipped on Monday as a rallying dollar and concerns of growing oversupply weighed on the market after Saudi Arabia reported its highest crude exports in nearly a decade.
The Dow Jones industrial average and S&P 500 ended at record highs on Monday, helped by a rally in Apple as well as tepid economic data suggesting the Federal Reserve may wait to raise interest rates.
Goldman Sachs has cut its long-term crude oil price forecasts and recommended investors sell shares in two major oil companies, saying that improved U.S. shale efficiency and higher production from OPEC will more than cover future demand.
Summer travel on U.S. airlines is expected to reach an all-time high this year on the wings of a strong U.S. economy, Washington-based trade group Airlines for America said on Monday.
The average price of a gallon of regular-grade gasoline in the United States rose 22 cents over the past three weeks to $2.82, according to a Lundberg survey released on Sunday.
"Pitch Perfect 2" hit all the right notes at the box office, snagging first place on the charts with a smashing $70.3 million debut despite fierce competition from "Mad Max: Fury Road."
U.S workers are losing at least $24 billion in retirement plan contributions each year by failing to take full advantage of company matches, according to recent research by 401(k) adviser Financial Engines.
Prospects for a step-change in global economic growth are better than they have been in many years, but much depends on solid evidence that an awful first quarter for the United States is far in the rear-view mirror.
