Morning business headlines
Thursday, August 08, 2013 11:41 AM
Cargill doubles annual earnings after strong quarter
Reuters reports that U.S. agribusiness giant Cargill Inc. had a sixfold rise in net income in its fiscal fourth quarter, which ended May 31. The company said it nearly doubled full-year earnings, citing strength in its core grain-based and financial services. For the full year, Cargill, earned $2.31 billion compared with $1.17 billion a year ago.
JPMorgan faces criminal and civil probes over mortgages
Reuters reports that JPMorgan Chase & Co. is being investigated by criminal and civil divisions of the U.S. Department of Justice over offerings of mortgage-backed securities.
Jobless claims edge up, still point to healing job market
Reuters reports that the number of Americans filing new claims for jobless benefits rose slightly last week, but it was still near its lowest level since before the 2007-09 recession, a hopeful sign for the U.S. economy. Initial claims for Iowa unemployment benefits rose by 5,000 last week to 333,000.