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Economy News: Iran Sabotages Its Own Economy To Spite The West

Iran continues to falsely imprison westerners with dual Iranian citizenship. Now, the reactionary judiciary's recent decision to revoke the citizenship ...


Business News: Fed's Williams calls for further gradual U.S. rate hikes

San Francisco Federal Reserve President John Williams speaks to Reuters in San Francisco, CaliforniaSan Francisco Federal Reserve Bank President John Williams on Tuesday called for gradual U.S. interest-rate hikes over the next few years to keep the economy from overheating and ultimately falling into recession. With the unemployment rate at 4.7 percent, the U.S. economy has reached full employment, Williams said, adding that inflation is on track to reach the Fed's 2-percent goal over the next couple of years. "Looking ahead, further gradual increases in the target fed funds rate will likely be appropriate to bring monetary policy back to a more normal setting consistent with an economy at full strength," Williams said in remarks prepared for delivery at Sacramento State University.


Business News: United Air profit slips 40 percent in fourth quarter

FILE PHOTO - A United Airlines 787 taxis as a United Airlines 767 lands at San Francisco International Airport, San FranciscoUnited Continental Holdings Inc on Tuesday reported a 1.6 percent decline in its fourth-quarter passenger unit revenue, a closely watched metric, outperforming the airline company's initial guidance on the measure as its net profit slipped 39.8 percent. Crediting the better-than-expected results to stronger last-minute bookings and ticket yields in November, United posted a pretax margin excluding special items of 9.5 percent, compared with 10.4 percent for the same quarter of 2015, on track with an updated prediction of the company's profitability issued last week. The No. 3 U.S. airline by passenger traffic reported fourth-quarter net income excluding special items of $562 million, down from $934 million in the same period in 2015.


Business News: Allergan to pay $15 million over failing to disclose merger talks

The Allergan logo is seen in this photo illustrationWASHINGTON (Reuters) - Botox maker Allergan plc will pay a $15 million penalty and admit to wrongdoing, after U.S. regulators on Tuesday accused the company of failing to disclose merger talks with Actavis, the U.S. Securities and Exchange Commission said.


Business News: CSX quarterly profit dips on higher costs

A CSX freight train heads westbound out of a tunnel into Harpers Ferry, West VirginiaDETROIT (Reuters) - No. 3 U.S. railroad CSX Corp on Tuesday reported a slight drop in quarterly net income as higher costs offset increased revenue.


Business News: Samsung scion Lee faces court hearing on arrest warrant

FILE PHOTO: Jay Y. Lee, vice chairman of Samsung Electronics, arrives to be questioned in SeoulJay Y. Lee, the 48-year-old leader of the Samsung Group, is due to appear at a court hearing on Wednesday when a judge will decide whether to issue an arrest warrant over his alleged role in a corruption scandal that has rocked South Korea. A special prosecutor on Monday said it would seek a warrant to arrest the third-generation leader of the country's largest conglomerate on suspicion of bribery, embezzlement and perjury. Lee, questioned last week for 22 straight hours at the prosecutor's office in Seoul, has denied wrongdoing.


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