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U.S. economy cools in fourth quarter, but consumer spending shines

WASHINGTON - U.S. economic growth slowed sharply in the fourth quarter as weak business spending and a wider trade deficit offset the fastest pace of consumer spending since 2006.

Recent Business News

McDonald's franchisees to new CEO: back-to-basics, fast

LOS ANGELES - McDonald's Corp franchisees have an urgent order for the fast-food giant's new CEO - get back-to-basics. In interviews, franchisees and advisors to restaurant owners say they hope the new chief will shrink its huge menu to concentrate on burgers and fries. 

11:40am EST

Barbie doll maker Mattel to move with 'urgency' as sales fall again

- Mattel Inc will evaluate its business and move with a "heightened sense of urgency," interim CEO Christopher Sinclair said, as the maker of Barbie dolls posted its fifth straight fall in worldwide quarterly sales.

11:37am EST

Xerox cuts profit forecast again as revenue slide continues

- Xerox Corp , which has been shifting its focus to IT services from making printers and copiers, cut its profit forecast for 2015 for the second time after reporting its sixth-consecutive drop in quarterly revenue.

9:37am EST

U.S. consumer sentiment rises to best since 2004

NEW YORK - U.S. consumer sentiment rose in January to its highest level in 11 years on better job and wage prospects, a survey released on Friday showed.

10:10am EST

American Airlines Group pilots approve contract to raise pay

- American Airlines Group pilots have voted to accept a five-year contract that will raise their wages substantially and cement their relationship with the management, the pilots union said on Friday.

12:05pm EST

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