WASHINGTON - The number of Americans filing new claims for unemployment benefits fell more than expected last week, pointing to resilience in the labor market despite belt-tightening by Washington.
Recent Business News
- Ally Financial Inc agreed to pay $2.1 billion to Residential Capital LLC to settle claims that it stripped the bankrupt mortgage subsidiary of choice assets.
DETROIT - Tom LaSorda, the former chief executive of Chrysler Group LLC and Fisker Automotive, is launching a venture capital fund with racing magnate Roger Penske to invest in technology startups.
LONDON/NEW YORK - Chinese factory activity declined in May for the first time in seven months and U.S. manufacturing grew at its slowest clip since October, suggesting it may take a while before the global economy starts to pick up steam.
- Forest Laboratories Inc said Howard Solomon, its chief executive of more than 35 years, will retire at the end of this year, capping a tenure that saw the company morph from a small generic and vitamins maker to a $10 billion corporation.