WASHINGTON - U.S. economic growth slowed sharply in the fourth quarter as weak business spending and a wider trade deficit offset the fastest pace of consumer spending since 2006.
Recent Business News
LOS ANGELES - McDonald's Corp franchisees have an urgent order for the fast-food giant's new CEO - get back-to-basics. In interviews, franchisees and advisors to restaurant owners say they hope the new chief will shrink its huge menu to concentrate on burgers and fries.
- Mattel Inc will evaluate its business and move with a "heightened sense of urgency," interim CEO Christopher Sinclair said, as the maker of Barbie dolls posted its fifth straight fall in worldwide quarterly sales.
- Xerox Corp , which has been shifting its focus to IT services from making printers and copiers, cut its profit forecast for 2015 for the second time after reporting its sixth-consecutive drop in quarterly revenue.
NEW YORK - U.S. consumer sentiment rose in January to its highest level in 11 years on better job and wage prospects, a survey released on Friday showed.
- American Airlines Group pilots have voted to accept a five-year contract that will raise their wages substantially and cement their relationship with the management, the pilots union said on Friday.
Consumers seem willing to turn a blind eye to the method of extraction if it means a break in the price at the pump.