Business Highlights
SANTA CLARA, Cuba (AP) — The first commercial flight between the United States and Cuba in more than a half century landed Wednesday, re-establishing regular air service severed at the height of the Cold War.
The JetBlue flight 387 included airline executives, U.S. government officials and journalists, with a sprinkling of Cuban-American families and U.S. travelers.
The arrival opens a new era of U.S.-Cuba travel with about 300 flights a week connecting the U.S. with an island cut off from most Americans by the 55-year-old trade embargo on Cuba and formal ban on U.S. citizens engaging in tourism on the island.
WASHINGTON (AP) — U.S. businesses added a solid 177,000 jobs in August, according to a private survey, suggesting that hiring remains healthy after two months of strong gains.
Payroll processor ADP said the job growth was driven by services firms such as retailers, financial services firms, and professional and business services, which includes higher-paying jobs like accountants, engineers and architects.
Energy companies pull US stocks lower as oil prices fall
NEW YORK (AP) — U.S. stocks took small losses Wednesday as energy companies fell with the price of oil and chemical and materials companies traded lower.
The price of oil dropped more than 3 percent after the U.S. government said crude oil stockpiles grew more than expected last week, while gasoline stockpiles didn't shrink as much as investors hoped.
WASHINGTON (AP) — More Americans signed contracts to purchase homes in July, a sign that demand for home ownership remains strong despite a shortage of listings on the market.
Housing has staged a solid rebound in prices and sales this year, but the real estate market faces potential challenges as fewer properties are being listed for sale.
Lew said that while the Obama administration has failed in its efforts to get tax reform through Congress, he believes the unhappiness expressed by bo