ABC 20 Streaming LiveSpotlight 20Pump PatrolPay It ForwardAround The WebRaw News

Forecast

THURSDAY: Sunny and not as humid. High: 89. Winds: Northwest 5-10 mph.

THURSDAY NIGHT: Clear. Low: 65. Winds: West 5-10 mph.

FRIDAY: Mostly sunny. High: 89. Winds: West 5-10 mph.

Joe Crain
Storm ...

more »

Advertise with us!

WICS Newschannel 20 :: News - Business News

Business News

Last Update on July 30, 2015 07:34 GMT

ECONOMY-THE DAY AHEAD

WASHINGTON (AP) -- The Labor Department will report today on the number of people who applied for unemployment benefits last week.

The Commerce Department will also issue the first of three estimates of how the U.S. economy performed in the April-June quarter. In the first three months of the year, the economy shrank at an annual rate of 0.2 percent.

Also today, Freddie Mac will report on average mortgage rates and Zillow will release its latest data on rental prices around the country. The report is likely to show that rents continue to climb amid strong demand for apartments

Procter & Gamble will report quarterly financial results before the market opens.

Amgen and LinkedIn will report after the closing bell.

HOME RENTAL PRICES

WASHINGTON (AP) -- U.S. home rental prices climbed much faster than incomes in June. But there are signs of slowing momentum around New York, Los Angeles and Washington.

Real estate data firm Zillow says that U.S. rental prices rose a seasonally adjusted 4.3 percent in June from a year ago, roughly matching the same pace as in May.

Rents continue to jump at double-digit rates in Denver, San Francisco and San Jose, California. But the monthly data suggests that several other major markets have either added enough new buildings or prices have pushed residents to their financial limits and cannot rise further.

Median prices slipped month over month in the New York metro area by $15 to $2,340, while also dropping slightly in Washington and flat-lining in Los Angeles.

SKOREA-EARNS-SAMSUNG ELECTRONICS

SEOUL, South Korea (AP) -- Samsung Electronics is reporting a fifth straight quarterly profit drop as the Galaxy S6 series of smartphones failed to reverse its declining fortune in the smartphone industry.

Samsung's April-June net income was 5.8 trillion won ($5 billion), down 8 percent from 6.3 trillion won a year earlier. A FactSet survey of analysts predicted 5.6 trillion won of net income.

Sales fell 7 percent over a year earlier to 48.5 trillion won while operating income dropped 4 percent to 6.9 trillion won, in line with its earnings preview earlier this month.

A robust performance at its semiconductor department helped narrow the profit decline. Operating income from its semiconductor division surpassed the 3 trillion won mark for the first time in multiple years.

But the launch of the latest flagship smartphones, the Galaxy S6 and S6 Edge smartphones, were not enough to halt its decline in the smartphone industry.

FINLAND-EARNS-NOKIA

HELSINKI (AP) -- Telecommunications and wireless equipment maker Nokia Corp. says second-quarter net profit was (euro) 347 million euros ($383 million), with growth particularly strong in its core networks division.

Overall sales increased 9 percent to 3.2 billion euros, with higher software sales and global demand for mobile broadband. Net profit a year earlier was 213 million euros but is not directly comparable because of discontinued operations.

CEO Rajeev Suri says all three of the Finnish company's remaining business sectors performed very well and it was "well positioned to deliver on our full-year 2015 commitments."

Nokia, which was unable to meet the challenges of Apple, Samsung and Asian phone makers, has seen a turnaround in its business since selling its ailing handset unit to Microsoft for 5.4 billion euros in 2013.

GERMANY-EARNS-LUFTHANSA

BERLIN (AP) -- Lufthansa says its earnings trebled in the second quarter compared with a year earlier, helped by falling fuel costs.

Deutsche Lufthansa AG, which includes airlines such as Swiss, Austrian Airlines and Germanwings, reports net earnings of 529 million euros ($584 million) for the April-June period, up from 173 million euros a year earlier. Revenue rose 8.9 percent to 8.39 billion euros from 7.7 billion euros.

Lufthansa confirmed its full-year outlook for adjusted pre-tax earnings of over 1.5 billion euros before strike costs.

The second quarter saw no strikes by Lufthansa's pilots in a long-running dispute that has led to repeated disruptions.

Chief financial officer Simone Menne says, alongside "extra momentum" for Lufthansa's passenger airlines, "the fall in fuel costs is largely responsible for the improvement in our results."

FORD F-150-CRASH TESTS

DETROIT (AP) -- Ford's aluminum-sided F-150 pickup saw mixed results in new crash tests.

The four-door Super Crew version of the 2015 F-150 got top ratings in all five crash tests performed by the Insurance Institute for Highway Safety. For now, it is the only full-size truck on the market with the institute's "Top Safety Pick" rating.

But the smaller Super Cab version did poorly on one frontal crash test.

The insurance institute says aluminum is safe and performed well. The different results were due to a design difference in the steel frame beneath the aluminum sides.

Ford noted that the trucks earned the government's top safety ratings. But it says it will improve the design of the Super Cab and Regular Cab trucks in 2016 so they perform better in front crashes.

BOEING-OKLAHOMA

OKLAHOMA CITY (AP) -- Boeing has broken ground on a new $80 million, 290,000-square-foot building that will house about 800 new employees and be the third structure in the aerospace company's growing Oklahoma City campus.

The Chicago-based Boeing also announced that the headquarters of the Global Services & Support unit's Aircraft Modernization and Sustainment division will relocate to Oklahoma City.

Boeing also says the Aircraft Modernization and Sustainment division, which provides aircraft services for executive transport, airborne refueling, airborne command and control and global strike capabilities, is relocating from St. Louis.

Oklahoma City officials have estimated the expansion will have an economic impact of $637.7 million over four years. Earlier this year, the city agreed to $6 million in job creation incentives for Boeing.

Boeing announced plans last year to move most of its defense and support-related services from Washington state to other areas as part of its efforts to improve the competitiveness of the Defense, Space & Security unit. The company said about 2,000 employees could be affected, with 900 jobs possibly moving to Oklahoma City and up to 500 to St. Louis in about three years.

Business Stories

Videos Coming Soon!

Business News

Major business and economic reports scheduled for today

WASHINGTON (AP) -- The Labor Department will report today on the number of people who applied for unemployment benefits last week.

Advertise with us!
[an error occurred while processing this directive]

 
  • WICS :: News - City In Crisis

    City In Crisis



  • WICS :: News - Crime Map

    Crime Map



  • WICS :: News - Traffic

    Traffic

    Get up to the minute traffic reports from WICS NewsChannel 20!
  • WICS :: News - Health Matters

    Health Matters

    Featuring news segment videos about health.
  • WICS :: News - In The Kitchen

    In The Kitchen

    Watch the area's best chefs whip up their tastiest creations. See them in action and get their recipes to try at home. 
  • WICS :: News - Behind The Headlines

    Behind The Headlines

    Get Behind the Headlines commentary with Mark Hyman.
  • WICS :: News - Ready, Set, Shred

    Ready, Set, Shred

    In an exclusive eight-week investigation, ABC Newschannel 20 digs deep into the Springfield police document shredding scandal.
  • WICS :: News - Pay it Forward

    Pay it Forward

    Pay It Forward... because sometimes people need a little extra help.
  • WICS :: News - Ask the Expert

    Ask the Expert

    Do you need expert advice? Here's your chance to ask our experts!
  • WICS :: 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.
  • WICS :: News - Road Trippin

    Road Trippin

    Come Road Trippin' with us! Check out all the great attractions in your area!
  • WICS :: News - Pump Patrol

    Pump Patrol

    Check out the ABC Newschannel 20's Pump Patrol to find the lowest prices, report low prices and get gas saving tips.

  • WICS :: News - Spotlight 20

    Spotlight 20

    Local organizations and community leaders tell us about events in central Illinois.
  • WICS :: News - Raw News

    Raw News

    Watch extra news footage, full interviews, and extended stories that didn't make it on air.  "Raw News" may include content that is not suitable for children and is intended for mature audiences only.
  • WICS :: News - On the Farm

    On the Farm

    Whether it's topical segments on what's happening on local farms to commodity prices, we have the world of central Illinois agriculture covered.
  • WICS :: News - Fugitive Files

    Fugitive Files



  • WICS :: News - Home Room

    Home Room

    When's the next school board meeting? Where's the basketball game? What's for lunch today? Do we have a snow day tomorrow? We have all the information you need for a successful school year--no pencil or ...
  • WICS :: News - No Text Zone

    No Text Zone

    Texting while driving kills thousands of people each year. Many more are seriously injured.  Keep central Illinois roads safe by taking the "No Text Zone" pledge.
  • WICS :: News - Business News

    Business News

    Stay up-to-date on the biggest business stories from around the nation.
  • WICS :: News - Pet of the Week

    Pet of the Week

    The cutest video you'll see anywhere! You won't be able to resist these adorable friends who need someone to love them.
  • WICS :: News - Waste Watch

    Waste Watch

    How are your tax dollars being spent? Waste Watch tracks whether local, state and federal governments are using your money wisely...or wasting it.
  • WICS :: News - Washington Times

    Washington Times

    Politics, Breaking News, US and World News.
  • WICS :: 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.

more »

Tonight on WICS

7:00 - The Astronaut Wives Club
8:00 - Mistresses
9:00 - Rookie Blue
10:00 - NewsChannel 20 at 10

Complete Schedule »


WICS Pay It Forward
Buzzed Driving Prevention PSA
WICS Cheers For The Years
Jimmy Kimmel
WICS Storm Team