Business

Business

Hampered by scandals, Wells Fargo sees profits stagnate

NEW YORK (AP) — Wells Fargo, the consumer banking giant, said its fourth-quarter profits fell slightly on Tuesday as the bank remains restrained by federal regulators, who put a tight leash on it after years of scandals and missteps.

VW, Ford team up on pickups, explore deal on electrics

FRANKFURT, Germany (AP) — Volkswagen and Ford are forming a global alliance to develop commercial vans and medium-sized pickups together while exploring broader cooperation on future battery-powered and autonomous vehicles and services.

JPMorgan misses estimates, hurt by trading troubles

NEW YORK (AP) — JPMorgan Chase & Co.'s fourth-quarter profits badly missed analysts' forecasts on Tuesday, caused by weakness in the bank's bond-trading business.

The nation's largest bank said it earned $7.07 billion in the last three months of the year, or $1.98 per share, up from $4.23 billion, or $1.07 a share, in the same period a year earlier.

Netflix raising prices as costs rise

SAN FRANCISCO (AP) — Netflix is raising its U.S. prices by 13 percent to 18 percent, its biggest increase since the company launched its streaming service 12 years ago.

Wholesale prices fall 0.2% in December

WASHINGTON (AP) — U.S. wholesale prices fell last month, dragged down by a steep drop in gas costs, suggesting that inflation will remain tame in the coming months.

CEO stands to win big if his fight to save Sears succeeds

NEW YORK — As Sears teeters on the brink of collapse, one man stands at the center of the fight for the iconic retailer's future.

2 top auto awards go to Hyundai, 1 to Ram 1500

DETROIT (AP) — Hyundai scored two out of three wins on Monday in the North American Car, Truck and Utility Vehicle of the Year awards, as the Detroit auto show's press previews officially got underway.

Chinese exports to U.S dropped in December as tariffs took toll

BEIJING (AP) — China's 2018 trade surplus with the United States surged to a record $323.3 billion, but exports contracted in December as the delayed impact of President Donald Trump's tariff hikes started to hurt demand.

VW to build electric vehicles at Tennessee plant

German automaker Volkswagen said Monday its factory in Tennessee will be the focus of an $800 million investment in the company's manufacturing of electric vehicles in North America.

USA Today publisher targeted for buyout

DENVER (AP) — The publisher of USA Today has received a $1.36 billion buyout bid from a media group with a history of taking over struggling newspapers and slashing jobs.

MNG Enterprises, better known as Digital First Media, said in a letter to Gannett Co. Monday that its leadership team has failed to show that it can run the company effectively.

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