Commodity wrap-up
China craves U.S. crops Exports of grains to China broke records this week with the largest weekly “new crop” sale of soybeans in almost four…
Articles by biztimes
Wages and benefits grow at slowest pace in 3 years
WASHINGTON — Wages and benefits for U.S. workers rose at the slowest pace in three years in the April-June quarter, a sign that businesses are…
US consumer spending up 5.6%, but virus could stall gains
WASHINGTON — American consumers increased their spending in June by a solid 5.6%, helping regain some of record plunge that occurred after the coronavirus struck…
Fiat Chrysler muscles through, green shoots in North America
DETROIT — Fiat Chrysler overcame coronavirus-related factory shutdowns to post losses that were not as bad as feared, and the company predicted improvement for the…
Caterpillar sales weaken but 2nd quarter results top Street
Caterpillar’s sales tumbled 31% in the second quarter as dealers culled construction equipment from showrooms during the pandemic. Dealers decreased machine and engine inventories by…
Exxon lost $1 billion in second quarter as oil use dries up
NEW YORK — Exxon lost $1.1 billion in the second quarter, its economic pain deepening as the pandemic kept households on lockdown, diminishing the need…
China’s manufacturing improves in July, exports strengthen
BEIJING — China’s manufacturing activity edged up in July and export orders strengthened despite weak U.S. and European demand, a survey showed today, in fresh…
US average mortgage rates decline; 30-year loan at 2.99%
WASHINGTON — U.S. average rates on long-term mortgages declined this week, remaining near historic lows as the key 30-year loan slipped back below 3%. Mortgage…
Record surge in daily shipping volumes for UPS in 2nd quarter
The pandemic-fueled boom in online shopping shows no signs of slowing down, providing more business for delivery companies like United Parcel Service Inc. UPS said…
Pfizer executive targets end of year for COVID-19 vaccine
ANDOVER, Mass. — An executive at a Massachusetts facility helping create a potential vaccine for the coronavirus said today that the company hopes to have…