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NEW YORK (AP) — Macy’s posted a surprise third-quarter profit and its strongest comparable sales in more than three years as an extensive overhaul of the 167-year-old New York department store begins to resonate with shoppers. After posting its back-to-back quarterly jumps in comparable sales, Macy’s earlier this week raised its financial guidance for the [...]
Nearly 44 percent of the 16,000 truck driving programs listed nationwide by the federal government may be forced to close if they lose their students after a review by the federal Transportation Department found they may not be complying with minimum requirements. The Transportation Department earlier this week said that it plans to revoke the [...]
NEW YORK (AP) — Shoppers turned out in big numbers for Black Friday last week — spending a record amount of money both in stores and online. Mastercard SpendingPulse, which tracks in-person and online spending, reported that overall Black Friday sales, excluding automotive, rose 4.1 percent from a year ago. The retail sales indicator, which [...]
NEW YORK (AP) — Pharmaceutical companies have agreed to slash the Medicare prices for 15 prescription drugs after months of negotiations, reductions that are expected to produce billions in savings for taxpayers and older adults, the Trump administration said. The net prices it unveiled for a 30-day supply of each drug, however, are not what [...]
The Federal Housing Finance Agency is increasing the size of home loans that the federal government can guarantee against default as it takes into account rising housing prices. Beginning next year, mortgage buyers Fannie Mae and Freddie Mac will be able to acquire loans of up to $832,750 on single-family homes in most of the [...]
WASHINGTON (AP) — Sales at retailers and restaurants increased in September as consumers moderated their spending after splurging over the summer. Sales rose 0.2 percent in September from the previous month, according to new figures from the Commerce Department. The report had been delayed more than a month because of the federal government shutdown. Sales [...]
CHELSEA, Mich. (AP) — Old Brick Farm, at which Larry Doll raises chickens, turkeys and ducks, was fortunate this Thanksgiving season. Doll’s small farm west of Detroit had no cases of bird flu, despite an ongoing outbreak that killed more than 2 million turkeys in the last three months. He also avoided another disease, avian [...]
WASHINGTON (AP) — The Trump administration last week announced that there could be new oil drilling off the California and Florida coasts for the first time in decades as President Donald Trump seeks to expand the nation’s oil production. The oil industry has been seeking access to new offshore areas, including Southern California and off [...]
WASHINGTON (AP) — A majority of Federal Reserve policymakers expressed support in late October for further interest rate cuts, though not all committed to making the reduction at their next meeting in December, according to meeting minutes released last week. At the same time, many officials said “it would likely be appropriate” to keep rates [...]
WASHINGTON (AP) — The nation’s trade deficit fell by nearly 24 percent in August as President Donald Trump’s sweeping global tariffs pushed imports lower. In a report delayed for more than seven weeks by the federal government shutdown, the Commerce Department said that the gap between what the United States buys from other countries and [...]