Economy

Economy

India's Jet Airways suspending operations

NEW DELHI (AP) — Jet Airways, once India's largest airline, announced on Wednesday that it is suspending all operations after failing to raise enough money to run its services.

The company said it has been informed by its lenders, led by state-run State Bank of India, that they are unable to consider its request for funding to keep flying.

EU threatens to tax $20 billion of U.S. goods over Boeing aid

BRUSSELS (AP) — The European Union has drawn up a list of $20 billion worth of U.S. products it could tax in an escalating feud over plane industry subsidies, the EU's executive commission said Wednesday.

Trade deficit narrows to $49.4 billion in February

WASHINGTON (AP) — The U.S. trade deficit fell for the second straight month in February, and the politically sensitive deficit in the trade of goods with China narrowed.

China's economic growth steady amid tariff fight

SHANGHAI (AP) — China's economic growth held steady in the latest quarter despite a tariff war with Washington as Beijing's efforts to reverse a slowdown started to gain traction.

Four Roses eyes expanded U.S. sales with distillery expansion

FRANKFORT, Ky. (AP) — An iconic Kentucky bourbon that reintroduced itself to American whiskey drinkers only last decade is ready to ramp up production in hopes of gaining a greater foothold in the U.S.

Four Roses Distillery on Tuesday celebrated the completion of a $55 million expansion that will double production capacity at its plant at Lawrenceburg, Kentucky.

Bank of America profit rises 5.6% in 1st quarter

CHARLOTTE, N.C. (AP) — Bank of America says first-quarter profit rose 5.6% to $7.31 billion.

The Charlotte, North Carolina-based bank said Tuesday that it had earnings of 70 cents per share in the latest quarter, up from 62 cents per share a year earlier.

Johnson & Johnson posts strong revenue in 1st quarter

Lower sales overseas and higher costs for research and litigation pushed Johnson & Johnson's first-quarter profit down 14%. Still, the health care giant beat profit and revenue expectations, pushing up its shares in premarket trading.

Industrial production slipped 0.1% in March

WASHINGTON (AP) — U.S. industrial production fell in March, pulled down by a drop in mining output. Factory output remained weak amid a slowing global economy and trade tensions with China.

The Federal Reserve says industrial output — combining production at factories, utilities and mines — slipped 0.1% in March from the previous month.

Best Buy names new CEO

NEW YORK (AP) — The executive credited with reviving a struggling Best Buy is stepping aside.

EU moves to limit focus of trade talks with U.S.

BRUSSELS (AP) — The European Union approved Monday its terms for negotiating a new trade deal with the United States, but set up a possible show-down with Washington by refusing to include agricultural products in the talks.

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