Business News


Durable goods orders climbed 2.8% in January, better than expected.  Consumer prices fell 0.7% in January with oil falling and food rising. (Commerce Department)

Sears reported a narrower quarterly loss of $159 million as it slashed costs and will launch a planned property trust by June, raising at least $2 billion for the struggling U.S. retailer. Sales at comparable stores dropped 4.4%, with Sears showing a 7% decline and Kmart stores a 2% drop.  (Reuters)

Kohl's reported a 10.5% rise in quarterly profits, helped by higher sales of apparel and accessories in the holiday shopping season. Net sales rose 4%. (Reuters)

Shop local? China has dropped major global tech brands-including Apple, Cisco, and Intel from its approved state purchase lists, while approving thousands of local vendors. (Reuters)

Anheuser-Busch InBev, the world's largest brewer, raised its dividend 46% and announced $1 billion share buyback program. It forecast improved beer sales, particularly with the growth in emerging markets of higher priced premium brands such as Budweiser, 60%of which is now sold outside the United States. (Reuters)

The S&P 500 is up 1 and the NASDAQ is up 4.  The MSCI International Index was up 0.10% yesterday.

Oil is up 98 cents at $50.01 a barrel, after settling up 3.5% yesterday and snapping a five-day losing streak on improved views on global oil demand. (Reuters)
 

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