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U.S. housing recovery rolls on as groundbreaking rises

U.S. housing starts and permits rose in September, a signal the market's modest recovery is supporting what appears to be growing strength in the broader economy.

Oct 17, 2014 11:41 AM EDT

World

Exclusive: Indonesia's new president plans steep fuel price rises next month

Indonesia's President-elect Joko Widodo plans to raise subsidised gasoline and diesel prices by around 50 percent next month in a bid to bring down the budget deficit in Southeast Asia's largest economy, an adviser told Reuters on Friday.

Markets

GE profit tops views as cost cuts drive margins; shares up

General Electric Co (GE.N) reported a slightly higher-than-expected quarterly profit on Friday, with cost cuts that helped boost margins across its industrial businesses offsetting revenue that missed analysts' targets.

Markets

Wind blows away fossil power in the Nordics, the Baltics next

Wind power is blowing gas and coal-fired turbines out of business in the Nordic countries, and the effects will be felt across the Baltic region as the renewable glut erodes utility margins for thermal power stations.

Wall Street climbs at open on solid earnings

U.S. stocks were higher at the open on Friday, following a batch of solid earnings reports that eased concerns about the impact of weak global demand on U.S. growth and businesses.

Oct 17, 2014 11:15 AM EDT

Volkswagen to recall over 580,000 cars in China: government

Volkswagen AG told China's quality watchdog that it planned to recall more than 580,000 cars in the country, after the agency launched an investigation in August.

Oct 17, 2014 11:08 AM EDT

Beware: Some Medicare Advantage plans have plenty of disadvantages

Seniors have flocked to Medicare Advantage in recent years, attracted by savings on premiums and the convenience of one-stop shopping. But as the annual Medicare enrollment season began this week, a memorandum from federal officials to plan providers surfaced that serves as a big red warning flag.

Oct 16, 2014 12:22 PM EDT

iPhone rollout likely widened T-Mobile's growth lead

Apple's iPhone 6 only went on sale in the last two weeks of the quarter, but the device's rollout may have been the U.S. cellular industry's top growth catalyst in the period, with T-Mobile US benefiting the most.

Oct 16, 2014 12:19 PM EDT

Chicago mayor mum on looming pension issues in budget address

Chicago Mayor Rahm Emanuel proposed a $8.9 billion election-year budget on Wednesday, keeping mum about looming pension challenges that could further damage the third-largest U.S. city's credit ratings and trigger payments associated with its debt.

Oct 16, 2014 12:15 PM EDT

Dollar recovers broadly on favorable U.S. monetary policy view

The U.S. dollar recovered against a basket of major currencies on Thursday on the view that Wednesday's selloff was overdone given the relative strength of the U.S. economy and the Federal Reserve's commitment to tightening U.S. monetary policy.

Oct 16, 2014 12:10 PM EDT

Goldman's focus on bond trading pays off as profit soars

Goldman Sachs Group Inc (GS.N) reported a 50 percent jump in quarterly profit as last month's pickup in bond market activity helped to boost trading revenue, showing that banks sticking with the notoriously volatile business can reap big rewards.

Oct 16, 2014 12:06 PM EDT

Lockheed says makes breakthrough on fusion energy project

Lockheed Martin Corp said on Wednesday it had made a technological breakthrough in developing a power source based on nuclear fusion, and the first reactors, small enough to fit on the back of a truck, could be ready for use in a decade.

Oct 16, 2014 12:01 PM EDT

Google tests waters for potential ultra-fast wireless service

Google Inc is preparing to test new technology that may provide the foundation for a wireless version of its high-speed "Fiber" Internet service, according to telecommunication experts who scrutinized the company's regulatory filings.

Oct 16, 2014 11:58 AM EDT

Data show U.S. economy's pulse is still strong

The number of Americans filing new claims for jobless benefits fell to a 14-year low last week and industrial output rose sharply in September, positive signals that could help ease fears over the economic outlook.

Oct 16, 2014 11:54 AM EDT

Global growth concerns drag Wall Street lower, selloff continues

U.S. stocks tumbled on Thursday, after the S&P 500 closed at its lowest in six months, on continued concerns about weak global demand and its potential impact on the U.S. economy and businesses.

Oct 16, 2014 11:48 AM EDT