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Business News
Recalls this week: ceiling lamps, propane gas
More than 1 million ceiling lamps sold at Ikea are being recalled this week because the glass shades can fall and shatter. Other recalled consumer products include 118 million gallons of propane gas and infant booties with decorative pompoms that pose a choking hazard....
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US stocks higher this afternoon as oil rebounds, banks rise
A strong rebound in oil prices and an encouraging report on retail sales helped lift the U.S. stock market in afternoon trading Friday, putting it on course for its first gain in a week. Financial and energy companies were among the biggest gainers. Oil was up more than 11 percent....
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US rig count drops 30 this week to 541; Texas down 14
HOUSTON (AP) -- Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 30 this week to 541....
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US retail sales rise as consumers shrug off stock price drop
WASHINGTON (AP) -- U.S. retail sales rose modestly in January, evidence that Americans kept shopping despite sharp drops in stock prices....
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US business stockpiles rise in December, but sales fall
WASHINGTON (AP) -- U.S. businesses boosted their stockpiles slightly in December, as sales dropped sharply. This combination has stoked anxieties about weakening economic growth, as sales over the entire year dropped for the first time since the Great Recession....
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