The number of Americans filing new claims for unemployment benefits increased more than expected last week, but the rise probably does not suggest a shift in labor market conditions as the underlying trend continued to point to strength. Initial claims for state unemployment benefits rose 24,000 to a seasonally adjusted 329,000 for the week ended April 19, the Labor Department said on Thursday.
Orders for long-lasting U.S. manufactured goods rose more than expected in March and a measure of business capital spending plans surged, bolstering views of an acceleration in growth in the second quarter. The Commerce Department said on Thursday durable goods orders increased 2.6 percent as demand rose across all categories. Durable goods range from toasters to aircraft and are meant to last three years.
General Motors Co on Thursday posted lower quarterly profit after a massive recall due to defective ignition switches linked to at least 13 deaths, but results still topped Wall Street expectations on strong pricing for its vehicles, especially in North America. Excluding a charge mostly for the devaluation of the Venezuelan currency, GM earned 29 cents a share, far better than the 4 cents analysts expected, according to a poll by Thomson Reuters I/B/E/S. Some GM ignition switches can make vehicle engines stall while operating, stop airbags from deploying, and power steering and power brakes from operating.
(Reuters) - Time Warner Cable Inc , the second-largest U.S. cable operator, reported first-quarter profit above analysts' estimates as it added more residential subscribers than expected for its high-speed data services. The company, which is in the middle of a $45.2 billion acquisition by Comcast Corp , lost 34,000 residential video subscribers in the first quarter on a net basis, fewer than the 77,300 analysts had expected. Time Warner Cable's quarterly profit jumped 19.5 percent to $479 million, or $1.70 per share, in the first quarter ended March 31. Time Warner Cable's shares closed at $139.87 on Wednesday on the New York Stock Exchange.