• News Desk

BUSINESS NEWS JANUARY 7th 2016


U.S. JOBLESS CLAIMS DECLINE

The number of Americans filing for first-time unemployment benefits fell in the last week. Initial jobless claims, a proxy for layoffs across the U.S., fell by 10,000 to a seasonally adjusted 277,000 in the week ended January 2nd. Economists believe that the rise in claims was due to seasonal volatility around holiday employment.

For more on the story log on to

http://www.wsj.com/articles/u-s-jobless-claims-fell-by-10-000-last-week-1452173543

U.S. TRADE GAP NARROWS IN NOVEMBER

The U.S. trade gap narrowed 5% in November from the prior month to $42.37 bn, according to the Commerce Department. Imports and exports have hit their lowest level in years, hinting at a domestic slowdown and poor demand for U.S. products abroad. Business investment has seen a slowdown and consumers are still showing signs of caution.

For more on the story log on to

http://www.wsj.com/articles/u-s-trade-gap-narrows-in-november-1452087153

Q1 INCOME FOR WALGREENS RISES

Drugstore chain Walgreens' first fiscal quarter net income rose 30.6% from a year ago as it reported higher retail sales. Net income for the firm came in at $1.1 bn vs $850 mn a year ago. Sales increased 48.5% to $29 bn. Walgreens expects to close its acquisition of Rite Aid in the second half of calendar year 2016.

For more on the story log on to

http://www.usatoday.com/story/money/2016/01/07/walgreens-q1-income-rises-306-due-to-higher-retail-sales/78402418/

YAHOO COULD LAY-OFF 10% WORKFORCE

Yahoo is planning to cut at least 10% of its workforce as part of a reorganization. Over 1,000 employees could be let go as early as this month, according to sources quoted in a Business Insider report. Yahoo declined to comment. The news comes a day after a Yahoo shareholder called for a shakeup in the firm's management, including a replacement for embattled Chief Executive Marissa Mayer.

For more on the story log on to

http://www.latimes.com/business/technology/la-fi-tn-yahoo-cuts-20160107-story.html


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