WASHINGTON - U.S. retail sales rose solidly in November, adding to signs of a strengthening economy that could draw the Federal Reserve closer to reducing the pace of monetary stimulus.
Recent Business News
- Pimco, home to the world's largest bond fund run by co-founder Bill Gross, said on Thursday that it expects U.S. economic growth to run between 2.25 and 2.75 percent in 2014.
HELSINKI - State-controlled Finnish utility Fortum has agreed to sell its local power distribution grid to a group of institutional investors led by First State Investments and Borealis Infrastructure for 2.55 billion euros ($3.5 billion).
- Shares of Hilton Worldwide Holdings Inc , the world's largest hotel operator, rose 7 percent in their New York Stock Exchange debut on Thursday.
NEW YORK - Cisco Systems Inc Chief Executive John Chambers said on Thursday he was beginning to see the U.S. market recover but cited challenges in emerging market economies such as Russia and Brazil.
Today, GM announced its new CEO will be Mary Barra, the company's current head of global product development.