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Wall Street jumps, fueled by strong consumer data

U.S. stocks posted sharp gains on Tuesday, with bank and energy stocks surging, as data showed U.S. consumer confidence soaring to a more than 16-year high.

Recent Business News

ZTE removed from U.S. trade blacklist

WASHINGTON The U.S. Commerce Department will remove Chinese telecom equipment maker ZTE Corp from a trade blacklist after the company admitted to violating sanctions on Iran, the Commerce Department said in a notice made public on Tuesday,

3:15pm EDT

Trump to offer federal coal to industry awash in reserves

WASHINGTON U.S. President Donald Trump's administration has billed his move to re-open federal lands to new coal leases as a win for miners seeking to expand production. But a review of company filings shows that coal miners with the most to gain already have enough leases in hand to last well over a decade.

Trump applauds Ford's previous planned investment in Michigan plants

DETROIT/WASHINGTON Ford Motor Co on Tuesday said it would invest $1.2 billion in three Michigan facilities and create 130 jobs in projects largely in line with a previous agreement with the United Auto Workers union, hours after U.S. President Donald Trump touted a "major investment" by the automaker on Twitter.

12:59pm EDT

U.S. House committee approves bill to increase scrutiny of Fed

WASHINGTON A Republican-controlled committee of lawmakers approved a bill on Tuesday to allow a congressional audit of Federal Reserve monetary policy, a proposal Fed policymakers have opposed and which faces an uncertain path to final approval.

Politics, Election 2016 1:21pm EDT

Exclusive: ECB replaces Brussels head, annuls four hires after rule breach

FRANKFURT The European Central Bank has replaced the head of its Brussels office and annulled four more appointments after staff complaints about unlawful hirings and promotions, internal documents seen by Reuters show.

2:37pm EDT

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