U.S. manufacturing contracts, but rest of economy humming along

WASHINGTON U.S. manufacturing contracted in November for the first time in three years as the sector buckled under the weight of a strong dollar and deep spending cuts by energy firms, but robust automobile sales suggested the economy remained on solid ground. | Video

Recent Business News

Bosch sued over alleged role in VW diesel emissions scandal

WASHINGTON German auto supplier Robert Bosch GmbH has been accused of conspiring with Volkswagen AG to evade diesel emissions standards in at least 11 million vehicles worldwide in a class action lawsuit filed late on Monday.

3:01pm EST

New York proposes banking rules to prevent illicit financing

New regulations proposed by New York Governor Andrew Cuomo on Tuesday would require banks operating in the state to adopt rigorous measures to prevent money laundering and the financing of terrorist groups.

12:48pm EST

Wells Fargo CEO complains about Fed debt issuance requirement

Wells Fargo & Co CEO John Stumpf said on Tuesday he disagrees with a new rule designed to boost one of the bank's cushions for absorbing losses.

Farm issues could scupper free trade deal with EU: U.S.

BRUSSELS Differences between the United States and the European Union over issues such as genetically modified crops and hormone-treated beef could scupper a free trade deal, U.S. Agriculture Secretary Tom Vilsack said on Tuesday.

8:50am EST

Schlumberger to cut more jobs as drilling downturn bites

NEW YORK Oil service company Schlumberger announced another round of job cuts on Tuesday, adding to 20,000 already this year, as low oil prices and a slowdown in drilling was expected to continue into next year.

2:18pm EST


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