Email List Google Plus
 

Football FridayTracking EbolaCrime StoppersTONIGHT AT 7: Election Predictions Town HallTrick-or-Treat SchedulePhoto GalleriesKnow Your Candidates

Forecast

Tonight: Rain changing to a mix then to some flurries late, cold & windy.
Low: 30     Winds: NNW 15-20 G30 mph

Saturday:
A few early flurries, windy and COLD!
High: 40     Winds: N 15-20 G 35 mph

Sunday: Mostly sunny, still cool.
High: ...
More...
Washington Times
Advertise with us!

Business News

Last Update on October 31, 2014 17:47 GMT

CONSUMER SENTIMENT

WASHINGTON (AP) -- U.S. consumers expect better economic growth and rising incomes in the coming months, pushing a measure of confidence to a seven-year high in October.

The University of Michigan says that its index of consumer sentiment rose to 86.9 from 84.6 in September. That's the highest since July 2007, five months before the Great Recession began. Still, the index regularly topped 90 before the downturn.

Richard Curtin, the survey's chief economist, says that almost six in ten of the respondents said the economy has improved recently, the highest proportion in more than 10 years.

The measure is the second this week to show consumer confidence has reached the highest level since the recession. Greater confidence and more hiring could lead to faster spending and healthier economic growth.

CONSUMER SPENDING

WASHINGTON (AP) -- U.S. consumer spending fell in September, the first decline since January, as shoppers took a breather after a big spending spree in August. Income growth posted the slowest gain this year.

The Commerce Department says consumer spending dropped 0.2 percent in September. Income edged up 0.2 percent in September, the smallest monthly gain since a flat reading last December.

The spending decline followed a big 0.5 percent increase in August. In September demand fell for durable goods such as autos and for nondurable goods, a drop that partially reflected falling prices for gasoline.

Spending is closely watched because it accounts for 70 percent of economic activity. Economists believe September will be a temporary pause as continued hiring gains pushing up spending and the overall economy in coming months.

GASOLINE PRICES

NEW YORK (AP) -- The average price of gasoline in the U.S. hit $3 a gallon Friday, and should soon drop below the benchmark for the first time since December 2010.

The price at the pump fell 33 cents in October, thanks mainly to plunging oil prices, according to AAA.

Many exuberant drivers have taken to social media to post pictures of gas station signs with prices of $2.99 or lower. Drivers in South Carolina and Tennessee are paying the lowest prices, with an average of $2.75 a gallon.

Drivers in New York are paying the most in the continental U.S., at an average of $3.37. That's still 22 cents cheaper than a year ago.

Gasoline is cheaper than milk again. In September the national average price of milk was $3.73 per gallon.

EARNS-BIG OIL

NEW YORK (AP) -- Falling oil prices hardly seem to be bothering the two biggest U.S. oil companies, but things could get tougher in the coming months.

Exxon and Chevron leaned on strong performances from their refining operations to increase profits in the third quarter despite plummeting global oil prices.

The global price of oil fell 18 percent from the beginning of the quarter to the end, and it cost both companies. Revenue slipped at Exxon by 4 percent and at Chevron by 8 percent.

But low oil and natural gas prices make for low raw material costs -- and higher profit -- for refining and chemical operations, which turn oil and gas into fuels and chemicals. Profit at Exxon's refining and chemicals operations rose 38 percent compared with a year earlier, and Chevron's profit from its so-called downstream operations more than tripled.

Those results helped Exxon's overall earning rise 3 percent in the quarter to $8.07 billion. Chevron's earnings rose 13 percent to $5.59 billion.

NISSAN-AIR BAG RECALL

DETROIT (AP) -- Nissan says it's recalling more than 1,800 Infiniti SUVs in the U.S. for an air bag problem that could send shrapnel into the passenger compartment.

The recall covers the QX56 SUVs from 2013 and the QX80s from 2014. The company says inflators made by Takata Corp. were built with an incorrect outer baffle part. That can cause pressure to build up, and the inflators can rupture if driver's side air bags are deployed.

Nissan has no reports of injuries from the problem. It was discovered after General Motors recalled 33,000 Cruze compact cars for the same problem in June. The Infiniti recall is part of a larger global recall of 260,000 Nissans announced last week.

Takata says the recall is separate from another one affecting 8 million vehicles in the U.S.

EUROPE-ECONOMY

FRANKFURT, Germany (AP) -- Inflation has crept higher in the 18 countries that use the euro but the rise to 0.4 percent in the year to October is unlikely to offer much relief to the European Central Bank as it tries to boost a weak economy.

The official figure released Friday was up from 0.3 percent the month before.

The European Central Bank is under pressure to give the eurozone another dose of stimulus measures in coming months because inflation is so low and growth so weak. There are fears the eurozone could even fall into outright deflation, a crippling downward price spiral.

Core inflation, a key measure because it excludes volatile food and energy prices, fell to 0.7 percent from 0.8 percent.

The bank's goal is to keep inflation just below 2 percent.

BRITAIN-RBS

LONDON (AP) -- Royal Bank of Scotland, which is majority-owned by the U.K. government, has set aside 400 million pounds ($639 million) to cover potential fines arising from international investigations into alleged manipulation of foreign currency trading.

The total represents over half the 780 million pounds the bank earmarked for "conduct and litigation costs" in third-quarter earnings released Friday.

The results show the bank, which was bailed out by the government during the 2008 financial crisis, swung back to profit during the July-September period. Its net income of 896 million pounds follows an 828 million-pound loss last year.

CEO Ross McEwan says the bank knows it has "a long list of conduct and litigation issues to deal with and much, much more to do to restore our customers' trust in us."

Advertise with us!

 
  • Dayton Ohio News, Weather, Traffic :: News - Tracking Ebola

    Tracking Ebola



  • Dayton Ohio News, Weather, Traffic :: News - Miami Valley Crime Stoppers

    Miami Valley Crime Stoppers

    If you have information about a crime that has occurred, call Miami Valley Crime Stoppers at 937-222-7867 (STOP) 800-637-5735, 24 hours a day. Callers can remain anonymous.
  • Dayton Ohio News, Weather, Traffic :: News - Know Your Candidates

    Know Your Candidates

    Learn about the candidates running for office near you!
  • Dayton Ohio News, Weather, Traffic :: News - Border Crisis

    Border Crisis

    Get the latest developments on the border control issue!
  • Dayton Ohio News, Weather, Traffic :: News - Chefs Corner

    Chefs Corner

    We often invite local chefs into our studio kitchen to demonstrate their cooking techniques and recipes.  Watch those video segments on this page.
  • Dayton Ohio News, Weather, Traffic :: News - Pay It Forward

    Pay It Forward

    River Valley Credit Union, FOX45, and ABC22 recognize the good deeds of people and organizations who make the Miami Valley a better place.
  • Dayton Ohio News, Weather, Traffic :: News - Health Care Reform

    Health Care Reform

    The Supreme Court ruling to uphold the Affordable Care Act sparked a new battle. Check here daily for the latest developments, locally and across the country.

  • Dayton Ohio News, Weather, Traffic :: News - Secrets Of A Thief

    Secrets Of A Thief

    We expose the "Secrets Of A Thief". Sponsored by Shiver Security.
  • Dayton Ohio News, Weather, Traffic :: News - Cool Schools

    Cool Schools

    Our children are the way of the future and it all starts with our schools. Join us as our Hilary Zalla goes inside schools around the Miami Valley to find out what cool things students and teachers are ...
  • Dayton Ohio News, Weather, Traffic :: News - Town Hall

    Town Hall

    Join in as our expert panel discusses jobs in Ohio
  • Dayton Ohio News, Weather, Traffic :: News - No Text Zone

    No Text Zone

    Texting While Driving Kills Thousands of People Each Year. Many More are Seriously Injured. You Can Help Make Our Roads a NO TEXT ZONE.
  • Dayton Ohio News, Weather, Traffic :: News - Washington Times

    Washington Times

    Politics, Breaking News, US and World News.
  • Dayton Ohio News, Weather, Traffic :: News - On Time Traffic

    On Time Traffic

    Get the latest traffic information and updates here!
  • Dayton Ohio News, Weather, Traffic :: News - School Closings

    School Closings

    Get the list of all closings and delays for schools and businesses within the area, and sign up for text alerts!
  • Dayton Ohio News, Weather, Traffic :: News - Save Local TV

    Save Local TV

    Find out how you can save local TV right here!

  • Dayton Ohio News, Weather, Traffic :: News - Raw News

    Raw News

    Watch raw, unedited and uncensored news stories right here!
  • Dayton Ohio News, Weather, Traffic :: News - Pump Patrol

    Pump Patrol

    Find the lowest gas prices, check out local and national price trends, report low prices and get fuel saving tips!
  • Dayton Ohio News, Weather, Traffic :: News - Political Pulse

    Political Pulse

    Armstrong Williams is a pugnacious, provocative and principled voice for conservatives and Christian values in America's public debates.
  • Dayton Ohio News, Weather, Traffic :: News - News Links

    News Links

    These links were chosen by the newsroom for their newsworthy content. These sites enhance the news stories that aired on the newscast on the dates cited.
  • Dayton Ohio News, Weather, Traffic :: News - Menard's Around the House

    Menard's Around the House

    Menards Around the House how-to videos give you tips for those much needed home improvements!
  • Dayton Ohio News, Weather, Traffic :: News - On the Move

    On the Move

    Get the latest news and more on your mobile phone!
  • Dayton Ohio News, Weather, Traffic :: News - Good Morning

    Good Morning

    It's Fun, it's fresh, the way mornings should be!
  • Dayton Ohio News, Weather, Traffic :: News - Top Stories

    Top Stories

    Get up to the minute information from across Ohio in our Top Stories section!
  • Dayton Ohio News, Weather, Traffic :: News - Your Voice. Your Future.

    Your Voice. Your Future.

    As the country faces challenges from federal budget issues to jobs and national debt, your voice is critical to the future.
  • Dayton Ohio News, Weather, Traffic :: News - Waste Watch

    Waste Watch

    How are your tax dollars being spent? Waste Watch tracks whether local, state and federal governments or any groups are using your money wisely...or wasting it.

more »

Business News

US consumer sentiment index reaches 7-year high

WASHINGTON (AP) -- U.S. consumers expect better economic growth and rising incomes in the coming months, pushing a measure of confidence to a seven-year high in October.

Consumer Info

   WEST PALM BEACH, FL -- (Marketwired) -- 03/21/14 --
 Companies that pride themselves on being eco-friendly may have conflicted
 ideas between marketing with ad specialties and maintaining their green
 reputation. ...

Entertainment News

MATTHEW McCONAUGHEY-"INTERSTELLAR"

LOS ANGELES (AP) -- It's expected to be one of the top movies of the year.

Get This

JETS-REX-BUMGARNER

FLORHAM PARK, N.J. (AP) -- Michael Vick?

Science/Tech News

IN THE NEWS: APPLE'S CEO COMES OUT AS GAY

NEW YORK (AP) -- Apple's Tim Cook says it wasn't an easy choice to come out as gay.

Tonight on ABC 22

6:00 pm ..... ABC 22 News at Six
6:30 pm ..... ABC World News
7:00 pm ..... Family Feud
7:30 pm ..... Family Feud
8:00 pm ..... Last Man Standing
8:30 pm ..... Cristela
9:00 pm ..... Shark Tank
10:00 pm ... 20/20
11:00 pm ... ABC 22 News at Eleven
11:15 pm ... Football Friday
11:30 pm ... Jimmy Kimmel Live
12:30 am ... Nightline
Complete Schedule»