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Stocks Close Down As Losing Streak Continues

Posted On January 15, 2015

(New York, NY) -- Stocks closed in negative territory for the fifth straight day. With oil prices dropping more than four percent, the Dow Jones Industrial Average lost 106 points to close at 17-321. The Nasdaq was down 68 to 45-71 and the S&P 500 ended at 19-93 after losing 19 points. Earlier Thursday, the Labor Department…

Obama Orders Paid Family Leave For Federal Workers

Posted On January 15, 2015

(Washington, DC) -- President Obama is ordering federal agencies to offer employees up to six weeks of paid family leave after the birth of a child.   Presidential spokesman Josh Earnest said Obama will ask Congress to expand the order beyond the federal workforce. Earnest argued that more companies should embrace family-friendly policies. The order…

Southwest Hit With Record Fine For Delays

Posted On January 15, 2015

(Chicago, IL) -- Southwest Airlines is facing a record fine. The U.S. Transportation Department is sanctioning the company for forcing passengers to remain on the tarmac in an aircraft for hours during severe winter weather last year. The delays involving 16 aircraft at Chicago's Midway airport last January resulted in a fine of one-point-six million…

Consumer Confidence Highest Since 2007

Posted On January 15, 2015

(New York, NY) -- Consumers' confidence in the strength of the economy is at its highest level in nearly seven years. The Bloomberg Consumer Comfort Index rose to nearly 45-and-a-half-percent last week, up just over two percent from the week before. The confidence increase was driven largely by the drop in gas prices.

Citigroup Profits Plunge Following Legal, Restructuring Charges

Posted On January 15, 2015

(Undated) -- Profits are down for Citigroup after the company spent three-point-five billion dollars to settle legal claims and overhaul operations. The third-largest U.S. bank by assets announced Thursday that its adjusted net income fell to 346-million dollars from two-point-six billion dollars a year earlier. That's a drop from 82 cents per share to six…