lucia-mutikani

Blackstone CEO took home $810.6 million in 2015

Blackstone Group LP Chief Executive Stephen Schwarzman took home $810.6 million in 2015, after the New York-based asset manager returned a record amount of cash to its shareholders following a wave of lucrative asset sales. The hefty payout represented a 17 percent rise in Schwarzman's earnings compared with 2014, in line with

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Blackstone CEO took home $810.6 million in 2015

lucia-mutikani

U.S. consumer spending, inflation data keep rate hikes on table

By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer spending rose solidly in January and underlying inflation picked up by the most in four years, keeping Federal Reserve interest rate increases on the table this year. The growth outlook was further bolstered by steady consumer sentiment in February despite a recent stock market sell-off. The

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U.S. consumer spending, inflation data keep rate hikes on table

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Rising U.S. layoffs hint at ebbing labor market momentum

By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits rose more than expected last week, suggesting some loss of momentum in the labor market amid a sharp economic slowdown and stock market selloff.  Signs of creeping employment…

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Rising U.S. layoffs hint at ebbing labor market momentum

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U.S. economy hits soft patch in fourth quarter as inventories, trade weigh

By Lucia Mutikani WASHINGTON (Reuters) – U.S. economic growth braked sharply in the fourth quarter as businesses stepped up efforts to reduce an inventory glut and a strong dollar and tepid global demand weighed on exports. Gross domestic product increased at a 0.7 percent annual rate, the Commerce Department said on Friday in a report that showed a further cutback in investment by energy firms grappling with lower oil prices. Growth in consumer spending also slowed as unseasonably mild weather cut into

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U.S. economy hits soft patch in fourth quarter as inventories, trade weigh

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Fidelity drops credit card partners American Express, Bank of America

By Tim McLaughlin BOSTON (Reuters) – Fidelity Investments said on Monday it is dropping long-time credit card partners American Express Co and Bank of America Corp , ending a 12-year partnership that has generated billions of dollars in fees. Boston-based Fidelity, which has 24 million customers, said its new partners will be U.S. Bancorp and

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Fidelity drops credit card partners American Express, Bank of America

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U.S. manufacturing activity slumps, construction spending falls

By Lucia Mutikani NEW YORK (Reuters) – The U.S. manufacturing sector contracted further in December, as the impact of a stronger U.S. dollar undermined export profitability, while U.S. construction spending fell for the first time in nearly 1-1/2 years in November, suggesting only moderate economic growth in the fourth quarter of 2105. The U.S. Institute for Supply Management (ISM) said its index of national factory activity fell to 48.2 from 48.6 in November and is now at its lowest level since June 2009. A reading above…

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U.S. manufacturing activity slumps, construction spending falls

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