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U.S. economy slowed in fourth quarter, but growth outlook still favorable

WASHINGTON - U.S. economic growth braked more sharply than initially thought in the fourth quarter amid a moderate increase in business inventories and a wider trade deficit, but strong domestic demand brightened the outlook.

Recent Business News

Jobs report may test market's complacency

NEW YORK - The U.S. stock market has been quiet this week - too quiet.

8:13pm EST

Southwest Airlines nears end of inspections that grounded 128 planes

- Southwest Airlines Co said on Friday it has finished inspecting 115 of 128 planes that it briefly pulled out of service on Tuesday when it discovered maintenance checks were overdue, and it expects to complete the rest this weekend.

3:11pm EST

Former AIG head Benmosche dies; led insurer after bailout

NEW YORK - Robert Benmosche, who took the helm of insurer American International Group after a massive government bailout at the height of the financial crisis, died on Friday at 70 after a battle with lung cancer. | Video

5:15pm EST

Fiat Chrysler says recalling 467,500 SUVs worldwide

DETROIT - Fiat Chrysler Automobiles said on Friday it will recall about 467,500 SUVs worldwide in order to fix a fuel-pump issue that could cause the engine to either stall or not start.

Exclusive: Chicago nears fiscal free fall with latest downgrade

CHICAGO - Chicago drew closer to a fiscal free fall on Friday with a rating downgrade from Moody's Investors Service that could trigger the immediate termination of four interest-rate swap agreements, costing the city about $58 million and raising the prospect of more broken swaps contracts.

6:16pm EST

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