New oil refinery co-owned by Calumet off to tough start
The shale boom is threatening to ruin a renaissance in small refineries, known as teapots, before it even begins.
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Blizzard bearing down on eastern U.S. snarls airports, closes offices
At least 50 million people are in the path of a potentially catastrophic winter storm that already is paralyzing transportation and shutting down public services.
U.S. stocks sink again as oil prices continue decline
U.S. stocks tumbled Wednesday morning, with the Dow Jones Industrial Average dropping almost 500 points, following a renewed selloff across stocks worldwide as skepticism about the strength of the global economy intensified.
FanDuel agrees to pay for image rights, NFL players union says
The accord announced Tuesday follows a confidential settlement of a lawsuit filed against FanDuel in October by former Indianapolis Colts wide receiver Pierre Garcon, who accused the site of using his name and image without his permission.
U.S. to limit Obamacare sign-up periods to help insurers
The U.S. government will limit a process that allowed people to sign up for health insurance under Obamacare outside of the normal enrollment period, after insurers complained that the special periods were letting people into the program only when they got sick.
Officials hope rapid action contains Indiana turkey flu outbreak
The U.S. Department of Agriculture has quarantined and destroyed hundreds of thousands of turkeys and chickens in Indiana in an effort to avoid a repeat of last year’s outbreak that cost the industry $3.3 billion.
Anthem seeks $3B more in drug savings from Express Scripts
Anthem, which contracts with Express Scripts to manage drug costs for its members, said the pharmacy manager should be passing along about $3 billion a year more in the savings it negotiates from drug companies.
Farm boom fizzles as crop surplus expands financial strain
While many growers remain profitable, the global commodity slump is increasing pressure on a Midwest economy that was largely shielded from the worst of the financial crisis by high crop prices and land values.
Mandatory union fees cast in doubt at U.S. Supreme Court
Five of the nine justices hinted that they were poised to let government workers refuse to fund the cost of collective bargaining. That step would be a blow to public-sector unions, which account for almost half the country’s unionized workers.
Stock woes continue as China turmoil sparks global selloff
The Standard & Poor’s 500 index slid 2.4 percent on Thursday, to close at 1,943.09, falling to its lowest point since Oct. 1 in the worst start to a year in data going back to 1928.
Here’s how Fed officials define ‘gradual’ rate hikes
For months, Federal Reserve officials have pledged that this rate hiking cycle will be gradual and data-dependent. After they finally lifted rates for the first time in almost a decade last month, market participants and economists have focused on just what that means. This week, two policy makers have given us a few additional clues […]
Young money: solutions for millennial financial worries
Keep your spending mindful and your savings mindless. That’s one key bit of financial advice for millennials from Karen Carr, a 27-year-old certified financial planner with Society of Grownups, a personal finance education and planning company based in Brookline, Mass. Sounds good, but how do you go about doing that? Carr and other millennial-generation money […]
Anthem workers file lawsuit over 401(k) fees in retirement plan
Anthem’s retirement plan is accused in a lawsuit of forcing about 60,000 workers and retirees to pay excessive fees by having to invest in Vanguard Group funds billed as low-cost options.
Aetna follows UnitedHealth in leaving industry lobbying group
With Aetna’s departure, two of the five biggest public U.S. health insurers will have ditched America’s Health Insurance Plans. The other three—Anthem Inc., Cigna Corp. and Humana Inc.—are still members
Lilly’s 2016 sales, profit guidance falls short of predictions
Indianapolis-based Eli Lilly and Co., which has promised to return to growth after a half-decade of falling revenue, indicated that 2016 earnings might be below analysts’ estimates.
U.S regulator upholds complaint over Midwest power auction
The Federal Energy Regulatory Commission said in a ruling that changes should be made to the Midwest Independent System Operator Inc.’s forward capacity auctions. Carmel-based MISO manages the electricity network for 15 U.S. states.
Global stocks on pace for historically bad day
Major U.S. stock indexes sank more than 2.5 percent in morning trading Monday following a financial rout that stretched across Asia into Europe.
U.S. manufacturing slows at fastest pace in six years
Struggling overseas demand and declines in commodity prices that are hurting investment in energy and agriculture continue to limit orders for American manufacturers.
Stocks have worst annual performance since 2008
The Standard & Poor’s 500 index and the Dow Jones industrial average both declined Thursday, the last trading day of 2015, putting both in the red for the year.
Landlords face slowing price gains after U.S. records shattered
The Federal Reserve’s first interest-rate increase in nine years has removed a crutch that’s helped sustain 33 consecutive months of price growth of at least 10 percent.