Mary Barra will become the new leader of General Motors in January, the company announced Tuesday. The company veteran's tenure as CEO will begin after current leader Dan Akerson retires on Jan. 15.
In an age when currency crises in far flung parts of the world can cause layoffs at factories and offices in mid-America, it's important to keep up on news from the business world. The Two-Way monitors what's happening. We make sense of the trends.
The lack of law enforcement in many regions has spurred looting that killed at least five people and injured hundreds. Some shop owners are taking up arms to defend themselves; others are closing down.
Treasury Secretary Jack Lew announced the government lost $10.7 billion on the deal but saved an estimated 1.5 million jobs in the industry.
The unemployment rate fell to 7 percent and employers added 203,000 jobs to payrolls in November, according to the latest report from the Bureau of Labor Statistics. The largely positive data could build anticipation that the Federal Reserve might move to taper its stimulus program.
The exchange rate of Bitcoin, the digital currency whose value has sharply risen this year, took a hit following a government ban. Chinese citizens are not forbidden from using the currency.
U.S. real gross domestic product rose from a 2.5 percent gain in the second quarter. And the number of people filing first-time claims for unemployment insurance fell to 298,000 last week.
The latest ADP National Employment Report says private employers added 215,000 jobs last month, making it the strongest month for job growth since a year ago. And in October, America's trade gap narrowed on the strength of record exports to China, Canada and Mexico.
CEO Jeff Bezos told 60 Minutes that the giant online retailer is looking at reducing its delivery times to 30 minutes or less in a few years. But the drones would have to overcome safety concerns and public perception.
The bankruptcy court ruling comes 15 days after the Justice Department said it would settle its lawsuit that had sought to block the airline deal.
Fewer Americans filed for unemployment insurance last week. But fewer orders were placed for equipment and other so-called durable goods in October.
By a margin of 77 votes, residents of the Seattle suburb of SeaTac have approved a $15 minimum wage for workers in and around its international airport, officials say. The measure faces a recount and other challenges.
The housing sector has been one of the economy's bright spots in recent months. Prices are still going up, but data suggest that the market is cooling or soon will be.
After gaining 109 points Thursday, the Dow Jones industrial average closed above 16,000 for the first time in history. The index touched the mark earlier this week but fell short by day's end.
If confirmed by the full Senate in December, Janet Yellen would become the first woman to lead the central bank. She's currently the Fed's vice chairman. Analysts do not expect major policy shifts after the departure of current Chairman Ben Bernanke.
Fresh data signal that the labor market is at least holding steady and that inflation remains in check. In other major economic news Thursday, Janet Yellen's nomination to head the Federal Reserve is expected to be OK'd by the Senate Banking Committee.
The Justice Department announces that JPMorgan Chase will pay $13 billion to settle U.S. claims over the sale of troubled mortgages. The deal includes a $4 billion payment for consumer relief. More than half of the record settlement amount will be tax-deductible, the banking giant says.
At a few U.S. airports, travelers have a new option besides paying for long-term parking or finding a ride. A service named FlightCar allows them to leave their car in the company's lot — and rent it out while they're away.
Janet Yellen, President Obama's nominee to head the Federal Reserve, has her confirmation hearing Thursday. Before she spoke, there was word that the number of first-time claims filed for jobless benefits fell only slightly last week.
Timothy Massad has overseen the Troubled Asset Relief Program that bailed out banks and automakers. Now he's expected to be nominated to head the Commodity Futures Trading Commission — perhaps an even tougher job.
The Postal Service has struck a deal. Starting with New York and Los Angeles, it will deliver Amazon's packages on Sundays. More cities will be added next year. The early analyses are that both sides of the deal will benefit.