Business Highlights

AP News
Posted: Feb 03, 2017 6:14 PM


Trump inherits a healthy job market, with solid hiring

WASHINGTON (AP) — President Donald Trump has inherited a healthy-looking job market from his predecessor, with the U.S. economy registering a burst of hiring in January and an influx of Americans looking for work. The Labor Department says U.S. employers added 227,000 jobs last month, the biggest gain since September.


Trump on jobs report: 'It's going to continue, big league'

WASHINGTON (AP) — President Donald Trump greeted news of a robust January jobs report Friday with his signature blend of gusto, self-promotion and promises of still-better days yet to come.


Super Bowl advertisers tread carefully in divisive climate

NEW YORK (AP) — Super Bowl advertisers are treading carefully this year to avoid alienating customers as a divisive political climate takes some of the buzz away from what is usually the biggest spectacle on TV.

Ad critic Barbara Lippert says that while "people need an escape," like the Super Bowl, this year's matchup on the field feels "so much less important than what's going on politically." To get the attention back, some advertisers are turning to nostalgia, celebrities and marketing stunts.


Nordstrom to drop Ivanka Trump's clothing, accessories line

NEW YORK (AP) — Nordstrom will stop selling Ivanka Trump clothing and accessories. The Seattle-based department store chain said the decision was based on the sales performance of the first daughter's brand.


FCC led by Trump pick starts to reverse Obama policies

NEW YORK (AP) — The Federal Communications Commission, which often took stances that angered the phone and cable industries under President Barack Obama's administration, is already starting to lean the other way. The regulator of broadcast TV and internet service on Friday said that cellphone companies that exempt some apps from data caps — "zero rating" — are good for consumers after all.


Congress kills rule forcing payment disclosures by companies

WASHINGTON (AP) — Congress has passed legislation ending an Obama-era regulation that's required oil and gas companies to disclose payments to the U.S. or foreign governments for commercial development. The Senate gave final congressional approval to measure Friday 52-47 in an unusual vote that began before dawn. President Donald Trump is expected to sign the bill.


Trump moves to scale back financial regulations

WASHINGTON (AP) — President Donald Trump is taking his first steps aimed at scaling back financial services regulations, and the Republican-run Congress cast a vote early Friday signaling that it's eager to help. The president signed an executive order that will direct the Treasury secretary to review a 2010 financial oversight law, which reshaped financial regulation after the 2008-09 financial crisis.


Banks lead stock surge as investors hope for regulation cuts

NEW YORK (AP) — Banks and other financial companies are leading stocks higher on Wall Street as President Donald Trump prepares to scale back financial industry regulations. Buyers were also encouraged by a pickup in hiring in January. Small-company stocks, which stand to benefit more than others from stronger economic growth in the U.S., make sharp gains.


Pro- or anti-Trump? Businesses pushed to pick a side

WASHINGTON (AP) — The Trump era is a perilous new landscape for corporate America. Companies from are feeling political pressure like never before, squeezed on one side by consumers who are boycotting products with any ties to the administration and on the other by the outspoken, social media-loving president.

Enough's Enough
Walter E. Williams


'Obamacare' sign-ups show slippage in Trump era

WASHINGTON (AP) — Fewer people signed up for coverage this year through as they faced higher premiums, less choice and a last-minute advertising pullback. The government says in a preliminary report that about 9.2 million people signed up through the federal marketplace serving most states. That number doesn't include 11 states that run their own insurance markets, but it's about 5 percent fewer customers than last year.


Ferragamo undeterred by US import tax proposal

FLORENCE, Italy (AP) — The new CEO of Salvatore Ferragamo luxury leather goods and fashion house says the prospect of a possible new tax on imports under the Trump administration won't deter his growth strategy in the United States. Eraldo Poletto told The Associated Press on Friday that any tax on imports could be balanced by other factors, including possible currency fluctuations.


The Dow Jones industrial average jumped 186.55 points, or 0.9 percent, to 20,071.46. The Standard & Poor's 500 index advanced 16.57 points, or 0.7 percent, to 2,297.42. The Nasdaq composite picked up 30.57 points, or 0.5 percent, to close at a record high of 5,666.77.

Benchmark U.S. crude added 29 cents to $53.83 a barrel in New York. Brent crude, used to price international oils, added 25 cents to $56.81 a barrel in London. Wholesale gasoline rose 2 cents to $1.55 a gallon. Heating oil picked up 1 cent to $1.67 a gallon. Natural gas dropped 12 cents, or 3.9 percent, to $3.06 per 1,000 cubic feet.