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  • Text of the Federal Reserve's statement Wednesday

    WASHINGTON (AP) — Below is the statement the Fed released Wednesday after its policy meeting ended: Information received since the Federal Open Market Committee met in September suggests that economic activity is expanding at a moderate pace. Labor market conditions improved somewhat further, with solid job gains and a lower unemployment rate....

  • Ally's 3Q profit up on auto lending

    NEW YORK (AP) — Ally Financial Inc. reported Wednesday that its third-quarter net income jumped sharply on gains in its automotive lending business. The company, based in Detroit, is the former finance arm of automaker General Motors, but now operates as a standalone auto finance company and bank after a major bailout by the government during...

  • Small business divided over minimum wage votes

    NEW YORK (AP) — Workers in five states could get a raise after Election Day. Some small business owners say raising the minimum wage will pressure their companies, forcing them to cut employees' hours or jobs. Others say it's the right thing to do for workers and the economy. Minimum wage referendums are on Tuesday's ballots in Alaska,...

  • Minimum wage on the ballot, legislative agenda

    Five states have referendums on raising the minimum wage on Tuesday's election ballots, and legislatures in 10 states and Washington, D.C., this year approved changes in their minimums. A look at the changes and potential changes: Referendums Alaska, currently $7.75, would rise to $8.75 Jan. 1 Arkansas, currently $6.25, would rise to $7.50...

  • Woman wanted Starbucks discs, settles for $250

    OKEMOS, Mich. (AP) — A Michigan woman who wanted homebrewed Starbucks coffee — described by her attorney as "gold" — will accept $250 to end a lawsuit over the company's decision to stop making discs for a specific single-serve machine. Pam Montgomery of Okemos said she bought a Tassimo brewer by Kraft Foods because Starbucks supplied coffee...

  • Goodyear's 3Q profit falls, but beats expectations

    AKRON, Ohio (AP) — Goodyear Tire's third-quarter net income fell 3 percent as tire sales fell around the world, but its adjusted earnings easily beat Wall Street expectations. Shares of the tire maker rose more than 5 percent Wednesday afternoon. Goodyear reported net income of $161 million, or 58 cents per share, in the quarter ending Sept....

  • RadioShack hires ex-Treasury adviser Wilson

    FORT WORTH, Texas (AP) — RadioShack has hired former Treasury Department adviser Harry J. Wilson to help with its turnaround efforts. The struggling consumer electronics retailer said Wednesday that Wilson will serve as chief revitalization officer, reporting to its board and CEO Joe Magnacca. Wilson is the founder and CEO of The Maeva Group....

  • UPS predicts 11 percent hike in December packages

    ATLANTA (AP) — UPS expects to deliver more than 34 million packages on the busiest day of the holiday season, double the amount on a normal day. The company expects the peak delivery day to be Monday, Dec. 22. Six days are expected to top last year's single-day record of 31 million packages. United Parcel Service Inc. said Wednesday that it...

  • Hershey 3rd-quarter results mixed

    HERSHEY, Pa. (AP) — Hershey's third-quarter net income fell 4 percent as costs rose. The chocolate bar and candy maker's adjusted profit missed analysts' expectations, while revenue met Wall Street's view. The company lowered its 2014 forecasts for adjusted earnings per share and revenue. Its shares fell almost 3 percent in midday dealings...

  • Stocks waver as investors wait for Fed statement

    NEW YORK (AP) — Major U.S. stock indexes are trading in a tight range as investors waited for word from the Federal Reserve and mulled over a mixed batch of corporate earnings results. The Standard & Poor's 500 was flat at 1,985 as of 11:54 a.m. Eastern time Wednesday. The Dow Jones industrial average rose 16 points, or 0.1 percent, to...

  • ARCP discovers accounting issues, shares sink

    NEW YORK (AP) — American Realty Capital Properties Inc. said Wednesday that it replaced its chief financial officer and chief accounting officer after it discovered that key parts of its financial statements were incorrect. Its shares sunk as much as 37 percent Wednesday to reach an all-time low. The New York real estate investment trust,...

  • Shell Midstream surges in 1st day on NYSE

    HOUSTON (AP) — Shell Midstream Partners LP is soaring in its debut on the New York Stock Exchange. Its common units jumped $10.15, or 44 percent, to $32.15 in Wednesday midday trading. Shell Midstream's initial public offering of 40 million common units raised $920 million. The master limited partnership, which was created by Royal Dutch...

  • Fact sheet: 2015 GMC Yukon Denali 4WD

    2015 GMC Yukon Denali 4WD BASE PRICE: $63,770 for 2WD; $66,770 for 4WD. PRICE AS TESTED: $74,785. TYPE: Front-engine, four-wheel drive, seven-passenger, large sport utility vehicle. ENGINE: 6.2-liter, overhead valve, EcoTec3 V-8 with VVT. MILEAGE: 14 mpg (city), 21 mpg (highway). TOP SPEED: NA. LENGTH: 203.9 inches. WHEELBASE: 116...

  • Startup tries to 'Poynt' stores in new direction

    SAN FRANCISCO (AP) — A Silicon Valley startup is hoping an upcoming transition to smarter credit and debit cards will persuade millions of U.S. merchants to buy savvier payment terminals for their stores, too. That's the point of Poynt, a versatile terminal built to take advantage of rules requiring stores to be equipped to handle payment...

  • Ford recalls 205,000 SUVs for fuel tank leaks

    DEARBORN, Mich. (AP) — Ford is recalling about 205,000 SUVs in cold-weather states and parts of Canada to fix gas tanks that can rust, leak and cause a fire. The recall affects Ford Edge and Lincoln MKX vehicles from the 2007 and 2008 model years. The company said Wednesday that it traced the problem to rust under some mounting brackets in...

  • McGraw Hill beats 3Q profit forecasts

    NEW YORK (AP) — McGraw Hill Financial Inc. (MHFI) on Wednesday reported profit of $190 million in its third quarter. The New York-based company said it had profit of 69 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.02 per share. The results topped Wall Street expectations. The average estimate of analysts...

  • California drought takes bite out of rice harvest

    WOODLAND, Calif. (AP) — California's deepening drought is shrinking its rice harvest, and that's bad news for farmers, migratory birds and sushi lovers. The $5 billion industry exports rice to more than 100 countries and specializes in premium grains used in risotto, paella and sushi. Nearly all U.S. sushi restaurants use medium-grain rice...

  • Southern Co. tops 3Q profit forecasts

    ATLANTA (AP) — Southern Co. (SO) on Wednesday reported earnings of $735 million in its third quarter. The Atlanta-based company said it had profit of 80 cents per share. Earnings, adjusted for non-recurring costs, were $1.09 per share. The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment...

  • Russian deliver space station cargo after US flop

    ATLANTIC, Va. (AP) — The company behind the dramatic launch explosion of a space station supply mission promises to find the cause of the failure and is warning residents to avoid any potentially hazardous wreckage. Orbital Sciences Corp.'s unmanned Antares rocket blew up just moments after liftoff Tuesday evening from the Virginia coast....

  • Waste Management beats 3Q profit forecasts

    HOUSTON (AP) — Waste Management Inc. (WM) on Wednesday reported profit of $270 million in its third quarter. On a per-share basis, the Houston-based company said it had profit of 58 cents. Earnings, adjusted for one-time gains and costs, were 72 cents per share. The results beat Wall Street expectations. The average estimate of analysts...

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