Consumer spending bolsters U.S. second-quarter growth

WASHINGTON - U.S. economic growth accelerated in the second quarter as solid consumer spending offset the drag from weak business spending on equipment, suggesting a steady momentum that could bring the Federal Reserve closer to hiking interest rates this year.

Recent Business News

Time Warner Cable targets closing Charter deal by year end

- Time Warner Cable Inc said on Thursday it was working towards closing the deal with Charter Communications by the end of the year.

11:08am EDT

Virgin America net profit jumps on higher U.S. travel, lower costs

- Virgin America Inc , a low-cost airline partly owned by Richard Branson, reported a 76 percent jump in quarterly profit, helped by higher U.S. travel and lower fuel costs.

8:49am EDT

Health insurer Cigna says second-quarter medical costs stay low; profit beats

- Health insurer Cigna Corp, which agreed last week to be bought by Anthem Inc for $47 billion, said on Thursday that medical services use was low in the second quarter, helping to keep costs in check and beat Wall Street profit estimates.

11:44am EDT

IMF board says Fund cannot join Greece bailout talks now: FT

WASHINGTON - The International Monetary Fund can participate in discussions over the latest financial rescue for Greece but cannot officially join the talks until after the fiscally beleaguered nation has agreed to comprehensive reforms, the Financial Times reported on Thursday.

Greece, IMF 11:20am EDT

NYC property market still hot even as private equity exits

NEW YORK - The private equity and other pooled funds that have made century-old buildings some of the hottest properties in Manhattan have been cashing out at double the rate of a few years ago, but strong buying from other investors has assuaged fears that the market is peaking.

11:16am EDT


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