WASHINGTON The U.S. economy accelerated in the second quarter as consumers ramped up spending and businesses invested more on equipment, confirming that the sluggish performance early in the year was temporary.
Recent Business News
Exxon Mobil Corp, the world's largest publicly traded oil producer, said on Friday its quarterly profit nearly doubled on surging margins at its operations outside the United States, but results fell shy of Wall Street's expectations.
American Airlines Group Inc on Friday reported quarterly revenue and adjusted profit that beat analyst projections, helped by strong passenger demand and improving average fares.
Merck & Co Inc's quarterly profit blew past analysts' estimates on Friday as demand surged for its key immuno-oncology drug, Keytruda, and the company reined in expenses.
U.S. drugmaker AbbVie Inc reported quarterly earnings on Friday that edged past analysts' expectations, helped by robust demand for its flagship rheumatoid arthritis drug, Humira.
JPMorgan Chase & Co is pushing for fresh cost cuts of about $200 million in the unit that oversees Sapphire Reserve credit card, the Wall Street Journal reported on Friday.