Business News

“You can observe a lot by just watching.” -- Yogi Berra
Mr. Market continues to worry about China. Asian stocks slid deeper this morning, after a preliminary reading of China's manufacturing sector fell to a six-and-a-half-year low in September. Expect some volatility today as investors look ahead to Fed Chair Janet Yellen's comments tomorrow afternoon, after the central bank decided not to hike interest rates last week because of its concerns about China's slowdown. (CNBC)
Bank of America shareholders have voted to allow CEO Brian Moynihan to retain his position as chairman. A group of investors, mainly public pension plans, had pressed to split the roles. (CNBC)
A leading indicator of commercial construction activity took a steep drop in August, possibly due to increased volatility in financial markets. The American Institute of Architects reported its Architecture Billings Index dropped from 54.7 to 49.1. Anything below 50 indicates a decrease in design services. (CNBC)
The construction industry has been plagued by a labor shortage. Eighty-six percent of construction firms surveyed in July and August by Associated General Contractors of America said they were having difficulty filling hourly craft or salaried professional positions. (CNBC)

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