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U.S. consumers loosen purse strings as holidays start

U.S. consumers showed some muscle in November at the start of the holiday shopping season, suggesting enough momentum in the economy for the Federal Reserve to raise interest rates next week for the first time in nearly a decade. The outlook for consumer spending, which accounts for more than two-thirds of economic activity, got a lift from other data …

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U.S. consumers loosen purse strings as holidays start

China economy shows signs of steadying, more policy support needed

China's activity data was stronger than expected in November, with factory output growth picking up to a five-month high, signaling that a flurry of stimulus measures from Beijing may have put a floor under a fragile economy. “Real …

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China economy shows signs of steadying, more policy support needed

The Fed Awakens

Barring a shock, the Federal Reserve will raise U.S. interest rates on Wednesday for the first time since June 2006, a full year before the global financial crisis began. Data releases will meanwhile give clues to the robustness of other economies, some of which are seen as vulnerable to

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The Fed Awakens

Dow, DuPont set $130 billion megamerger, could spark more deals

Dow and DuPont shares fell on Friday after spiking earlier in the week following reports of negotiations. Executives from both companies said the agrichemicals businesses have little overlap and any asset sales would likely be minor. Dow shareholders would own 52 percent of the new company after preferred shares are converted, the companies said.

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Dow, DuPont set $130 billion megamerger, could spark more deals

U.S. approves 2016 BMW diesel X5 SUV after EPA review

The Environmental Protection Agency and California Air Resources Board approved the sale of the new 2016 BMW diesel X5 after government testing found no evidence of software to evade emissions standards, the government said Thursday. EPA spokeswoman Laura Allen said Thursday that the agency – along with California and Canada – was doing additional testing before approving new diesel vehicles.

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U.S. approves 2016 BMW diesel X5 SUV after EPA review

Ford to invest $4.5 billion more in electric car plan by 2020

Ford Motor Co plans to invest an additional $4.5 billion by 2020 in programs to broaden its offerings of hybrids and electric vehicles, Chief Executive Officer Mark Fields said Thursday. Fields said it will launch late next year a new version of its Ford Focus electric car that has a 100-mile range and can recharge in 30 minutes. Ford also plans to add 13 new plug-in hybrid, hybrid or …

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Ford to invest $4.5 billion more in electric car plan by 2020

VW says only small group to blame for emissions scandal

Volkswagen said on Thursday only a small group of employees was responsible for cheating U.S. diesel emissions tests and there was no indication board members were involved in the biggest business crisis in the carmaker's history. Chairman Hans Dieter Poetsch said investigations into the affair were going well, but the scandal was the result of a “chain of errors” and it would still take months to …

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VW says only small group to blame for emissions scandal

Fed to guide on rate hike path with fresh language, forecasts

Federal Reserve Chair Janet Yellen next week has to decide not only whether to raise interest rates for the first time in a decade, but also how to assure markets on the likely path of future rate hikes. The central bank has held short-term borrowing costs near zero for seven years and the last thing policymakers want is for their first rate hike to trigger expectations for future increases that could knock economic growth off track. Traders currently expect…

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Fed to guide on rate hike path with fresh language, forecasts

U.S. jobless claims at five-month high; import prices fall

The number of Americans filing for unemployment benefits rose to a five-month high last week, but this likely does not signal a deterioration in the labor market as the underlying trend remained consistent with tightening conditions. The reports did not change views the Federal Reserve will raise interest rates next Wednesday for the first time in nearly a decade. “As we approach the end of the year, jobless claims have a tendency to be more volatile due to seasonal adjustment issues around the holidays.

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U.S. jobless claims at five-month high; import prices fall

Philips in lighting partnerships with Cisco, SAP and Bosch

AMSTERDAM (Reuters) – Philips has entered strategic partnerships with Cisco , SAP and Bosch [ROBG.UL] under which the Dutch company will become a preferred supplier of networked lights.

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Philips in lighting partnerships with Cisco, SAP and Bosch

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