Business News Headlines

Wall Street opens up on economic data

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NEW YORK - U.S. stocks opened higher on Thursday data as from around the world pointed to improving economic conditions and Procter & Gamble reported strong results. | Video

9:34am EDT

U.S. jobless claims drop to 5-1/2 year low

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WASHINGTON - The number of Americans filing new claims for unemployment benefits fell unexpectedly last week, touching a 5-1/2 year low, suggesting a steadily improving labor market.

9:04am EDT

P&G appears back on track with CEO Lafley's return

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- Procter & Gamble Co's quarterly profit fell less than expected and this year's earnings should rise at least as much as last year, indicating the world's largest household products maker is fixing its problems with A.G. Lafley back in charge.

Macy, Penney to wrap up trial on Martha Stewart home goods dispute

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NEW YORK - A New York state judge could decide as soon as Thursday whether J.C. Penney Co Inc can sell certain Martha Stewart-branded home goods despite rival Macy's Inc's exclusive deal with the doyenne of U.S. home decor.

Time Warner Cable adds fewer internet users than expected

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- Time Warner Cable Inc, the second-largest U.S. cable operator, reported quarterly revenue below analysts' estimates as it added less than half the number of subscribers for high-speed data services that analysts had expected.

Tech, Media 7:22am EDT

ECB holds rates, confirms no move for 'extended period'

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FRANKFURT - The European Central Bank left interest rates at a record low 0.5 percent on Thursday and affirmed that they will remain there for some while to come and could yet fall further.

9:18am EDT

Exxon's quarterly profit falls short of Street view

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- Exxon Mobil Corp on Thursday reported a sharp fall in quarterly profit on lower oil and gas output production and weaker earnings from its refining business.

Kellogg trims sales view on weaker U.S. demand

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- Food company Kellogg Co trimmed its 2013 sales forecast on Thursday, citing weaker demand in the United States and the stronger dollar.

9:49am EDT

Europe's factories grow, China's stabilize

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LONDON - Europe's factories delivered more signs last month the region is gradually leaving recession behind, according to business surveys that also eased immediate fears over the health of China's economy.

6:49am EDT

Chesapeake quarterly profit tops Street estimate

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- Chesapeake Energy Corp reported a better-than-expected quarterly profit on Thursday as it produced more crude oil than Wall Street targeted.

7:52am EDT
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McCain, Biden coming together for Sedona, Arizona forum

These days Washington is not known for bipartisanship, but every now and then a breakthrough is made. It is noteworthy that Vice President Joe Biden, a Democrat, and Senator John McCain, a Republican, are appearing together at a forum in Sedona, Arizona on Friday.