Business Highlights
[...] despite their own financial gains, many people worry about risks beyond their control — from a volatile stock market to another economic downturn.
COLUMBUS, Ohio (AP) — More than 4 million U.S. workers will become newly eligible for overtime pay under rules issued Wednesday by the Obama administration.
WASHINGTON (AP) — Catching many investors off guard, the Federal Reserve made clear Wednesday that an interest rate hike in June is likely if the economy keeps improving.
The minutes of their most recent meeting in late April showed that Fed officials widely felt it would be time to raise rates at their June 14-15 meeting as long as hiring and economic growth strengthened and inflation showed signs of accelerating toward the Fed's 2 percent target rate.
The Fed had voted 9-1 in April to keep rates unchanged while noting that threats from the global slowdown had eased.
NEW YORK (AP) — Target easily beat first-quarter profit expectations, but slowing sales for the retailer created some unease.
Target's weak store sales and its expectations for this quarter, released Wednesday, pushed shares down sharply and shares of almost every retailer followed suit in what is shaping up to be a miserable year for the sector.
NEW YORK (AP) — Lowe's on Wednesday reported surging first-quarter profits as key sales metrics jumped in the midst of a strong recovery in the U.S. housing market.
Home improvement stores continue to distance themselves from a retail sector that can't seem to get shoppers through the door, or to spend much money when they do.
WASHINGTON (AP) — Industry regulators have fined Raymond James $17 million, accusing the financial services firm of widespread failures in its controls against money laundering.
NEW YORK (AP) — People who put their cars up as collateral for what are supposed to be short-term emergency loans are being hit with interest rates of 300 percent, a high rate of reposs