Growth in the U.S. manufacturing sector rose to a five-month high in March as output and employment gained, according to an industry report released on Wednesday.
Recent Business News
STONE MOUNTAIN, Ga. - Goldman Sachs Economist Jan Hatzius said on Wednesday he believed the Federal Reserve will likely raise interest rates late this year or early next year, given the amount of slack still present in the labor market.
- Simon Property Group Inc scrapped its attempt to buy Macerich Co , ending what could have been the largest deal between U.S. shopping mall operators after Macerich rejected its sweetened offer of $23.2 billion including debt.
- Sears Holdings Corp plans to raise more than $2.5 billion from shareholders by offering rights to buy shares in a real estate investment trust that will hold some of its stores.
DETROIT - U.S. consumer demand for new vehicles began to thaw in March, with Detroit automakers reporting mixed sales results on Wednesday.
NEW YORK - The world's biggest automakers increasingly are making money by producing luxury models and reaping profits in China and North America, management consulting firm McKinsey & Co said in a report issued on Wednesday.