Business | MyFOX Spokane

Social Security benefits get a 1.7 percent bump

Submitted by Fox First at Ten on October 16th

By STEPHEN OHLEMACHERAssociated Press WASHINGTON (AP) - More than 56 million Americans on Social Security will get raises averaging $19 a month come January, one of the smallest hikes since automatic adjustments for inflation were adopted in 1975, the government announced Tuesday. Much of the 1

Citigroup picks veteran to replace Pandit as CEO

Submitted by Fox First at Ten on October 16th

By MATTHEW CRAFTAP Business Writer NEW YORK (AP) - In picking Michael Corbat to take over as CEO of Citigroup, the board of directors chose a low-profile veteran of the bank - a sharp contrast to Vikram Pandit, his suddenly departed predecessor. Corbat, 52, has spent his entire career at

HCP to acquire 133 senior housing communities

Submitted by Fox First at Ten on October 16th

LONG BEACH, Calif. (AP) - HCP Inc. is buying 133 senior housing communities for $1.73 billion from a joint venture between Emeritus Corp. and an affiliate of The Blackstone Group L.P. The deal announced Tuesday includes assisted living, independent living, memory care and skilled nursing facilities

CSX 3Q rail profit dips 2 pct. on volume shift

Submitted by Fox First at Ten on October 16th

By JOSH FUNKAP Business Writer OMAHA, Neb. (AP) - CSX Corp. reported a 2 percent dip in its third-quarter profit and revenue Tuesday because the railroad delivered fewer carloads of coal and crops, and fuel surcharge revenue declined. CSX said the railroad's earnings per share actually

News Corp. shareholder protest votes defeated

Submitted by Fox First at Ten on October 16th

By RYAN NAKASHIMAAP Business Writer LOS ANGELES (AP) - News Corp. managed to avoid rowdy protests at its annual shareholders meeting Tuesday, but that didn't stop stockholders from voicing complaints about the grip on the company held by founder and CEO Rupert Murdoch and his family.

Figures on government spending and debt

Submitted by Fox First at Ten on October 16th

WASHINGTON (AP) - Figures on government spending and debt (last six digits are eliminated). The government's fiscal year runs Oct. 1 through Sept. 30.

Earnings propel Dow to its biggest jump in a month

Submitted by Fox First at Ten on October 16th

By The Associated Press The stock market is closing with its biggest gain in a month following strong earnings from Mattel, Johnson & Johnson and other big companies. The Dow Jones industrial average climbed nearly 128 points to 13,552 points Tuesday, its best gain since Sept. 13. The

News Summary: Coca-Cola profit up as sales grow

Submitted by Fox First at Ten on October 16th

By The Associated Press PROFIT POPS: The Coca-Cola Co. says its profit rose 4 percent in the third quarter, although revenue came in shy of Wall Street expectations. FOREX FALLS FLAT: The company's revenue rose 1 percent for the period as it was hit by unfavorable currency exchange rates.

News Summary: Squirrel boom frustrates farmers

Submitted by Fox First at Ten on October 16th

By The Associated Press NUTS ABOUT FRUIT: A mild winter and a bumper crop of nuts have caused an explosion in the squirrel population in parts of the country, besieging fruit growers with their ravenous appetites, littering highways as roadkill, and keeping pest control experts busy. SQUIRRELY

News Summary: Price of cocoa surges 3 percent

Submitted by Fox First at Ten on October 16th

By The Associated Press SWEET TOOTH: The price of cocoa surged 3 percent as new, positive signs for the U.S. economy are raising hopes that consumers may splurge on more chocolate confections in the months ahead. BRIGHT SPOTS: New reports showed consumer price increases were tame in September.