Retail | MyFOX Spokane

Oil price rises on stimulus hopes

Submitted by Fox First at Ten on July 16th

By CHRIS KAHNAP Energy Writer NEW YORK (AP) - Oil prices climbed for a fourth day on hopes that the Federal Reserve will take additional steps to prop up the economy. Benchmark U.S. crude on Monday rose $1.33 to end at $88.43 per barrel in New York, while Brent crude rose by $1.95 to finish at $

US business stockpiles grew 0.3 percent in May

Submitted by Fox First at Ten on July 16th

By MARTIN CRUTSINGERAP Economics Writer WASHINGTON (AP) - U.S. companies added to their stockpiles in May. But their sales fell for a second straight month, adding to worries that the economy has slowed. Business stockpiles grew 0.3 percent in May from April, matching April's increase, the

Stocks close lower after consumer spending slides

Submitted by Fox First at Ten on July 16th

By BERNARD CONDONAP Business Writer NEW YORK (AP) - Stocks closed lower for the seventh day out of the last eight on Monday after the government reported that U.S. consumers cut their spending last month. The news pushed stocks down from the start of the trading day. Though they recovered a bit

US economy appears weaker as retail sales slump

Submitted by Fox First at Ten on July 16th

By ANNE D'INNOCENZIO and MARTIN CRUTSINGERAP Business Writers WASHINGTON (AP) - The outlook for the U.S. economy appeared dimmer Monday after a report that Americans spent less at retail businesses for a third straight month in June. The report led some economists to downgrade their estimates

Turkish bank sale drags Citi's net down 12 percent

Submitted by Fox First at Ten on July 16th

By PALLAVI GOGOIAP Business Writer NEW YORK (AP) - Citigroup's net income fell 12 percent in the second quarter partly due to a loss on the sale of its stake in a Turkish lender. The income of $2.9 billion was still better than analysts were expecting. Citi is one of the largest international

Asian stocks rise despite US declines

Submitted by Fox First at Ten on July 16th

BEIJING (AP) - Asian markets rose Tuesday amid optimism China might take new steps to stimulate its slowing economy. Japan's Nikkei 225 gained 0.5 percent to 8,768.46, while China's benchmark Shanghai Composite Index rose 0.3 to 2,154.44. South Korea's Kospi added 0.8 percent to 1,831.

Million Dollar Powerball Ticket Sold In Bonner County

Submitted by Fox First at Ten on July 15th

BOISE, Idaho – For the second time in less than a month, someone who played Powerball in Idaho is holding a winning ticket worth $1,000,000. One winning ticket for last night´s $90 million Powerball draw was sold at an Idaho Lottery retail location in Bonner County, in northern Idaho.

Chinese premier says economic woes to continue

Submitted by Fox First at Ten on July 15th

By CHRISTOPHER BODEENAssociated Press BEIJING (AP) - China's economic woes that have brought growth to a three-year low will continue for some time, but the slower expansion remains within expectations, Premier Wen Jiabao says. Wen said Chinese need to recognize the seriousness and complexity

Visa, MasterCard in $6B settlement over card fees

Submitted by Fox First at Ten on July 13th

By ANNE D'INNOCENZIO and PALLAVI GOGOIAP Business Writers NEW YORK (AP) - Visa, MasterCard and major banks agreed to pay retailers at least $6 billion to settle a long-running lawsuit that alleged the card issuers conspired to fix the fees that stores pay to accept credit cards. As part of

Macy's wins temporary block against Martha Stewart

Submitted by Fox First at Ten on July 13th

By ANNE D'INNOCENZIOAP Retail Writer NEW YORK (AP) - J.C. Penney's woes keep piling on. In the latest string of troubles, Macy's won a preliminary injunction against Martha Stewart Living that would prevent it from selling some of its products at the chain. The decision from New York