Email List
 

ABC 15 Streaming LiveLive In The StudioCurrent Road ConditionsPump PatrolRaw NewsSchool Closings

Forecast


OVERNIGHT:
Mostly Clear
Very Cold
Low 18

SATURDAY: Sunny
Cold!
High 40

SUNDAY: Clouds
Showers, Not as cool
Low 25/High 50

MONDAY: Partly Cloudy
Warming
Low 35/High 60

TUESDAY: Partly Cloudy
Warm
Low 43/High 65

WEDNESDAY: Mostly Cloudy
Breezy, Showers
Low 45/High 66

more...
Advertise with us!

Financial & Business News

Last Update on March 27, 2015 17:24 GMT

ECONOMY-GDP

WASHINGTON (AP) -- U.S. economic growth slowed in the fourth quarter and economists are looking for an even weaker showing in the first quarter as severe winter weather takes a toll on the economy.

But the slowdown is expected to be short-lived. Stronger growth is expected for the rest of the year as a recovering job market supports healthy gains in consumer spending.

The Commerce Department says the overall economy, as measured by the gross domestic product, grew at an annual rate of 2.2 percent in the October-December period, an estimate that was unchanged from a month ago. The economy had surged at a 5 percent rate in the third quarter.

The final look at fourth quarter GDP found consumer spending was stronger than previously estimated but business restocking was weaker.

CONSUMER SENTIMENT

WASHINGTON (AP) -- Bad weather and rising gasoline prices pushed U.S. consumer sentiment a bit lower in March.

The University of Michigan's consumer sentiment index slipped to 93 this month from 95.4 in February. Richard Curtin, chief economist for the survey, notes that despite the monthly drop, consumer optimism was the highest in a decade for the first three months of 2015.

Sentiment dropped most this month among low-income households, which are especially sensitive to high utility bills in the winter. Confidence rose for mid- and high-income households. Curtin predicted that an improving job market would boost consumer spending the rest of the year.

AIRLINES-COCKPIT RULES

COPENHAGEN, Denmark (AP) -- Europe's aviation safety agency is recommending that airlines across the continent always have two people in the cockpit of a flying aircraft.

European airlines, including the Lufthansa Group that includes Germanwings, have been making commitments to implement the measure after it emerged that the co-pilot of Germanwings Flight 9525 had apparently locked himself in the cockpit to crash the plane.

U.S. airlines revamped their policies regarding staffing in the cockpit following the Sept. 11, 2001 terrorist attacks. But the procedure is not standard in Europe or Canada.

The European Aviation Safety Agency's executive director, Patrick Ky, says "while we are still mourning the victims, all our efforts focus on improving the safety and security of passengers and crews."

The president of the German pilots union Cockpit tells The Associated Press that his organization would support measures requiring two people in the cockpit at all times during flights, but he cautions that such a move wouldn't solve all security problems.

UNITED STATES-ASIAN BANK BLUES

WASHINGTON (AP) -- U.S. resistance to a Chinese-led Asian regional bank is leaving it isolated among its Asian and European allies.

That's giving some heft to China's frequent complaints that Washington wants to contain its rise as a world power.

One of America's closest friends in Asia, South Korea, announced Thursday it will join the Asian Infrastructure Investment Bank. The institution is intended to help finance construction of roads and other infrastructure.

The U.S. has expressed concern that the new bank will allow looser lending standards, undercutting the World Bank and Asian Development Bank, where the U.S. and Japan have the most clout.

But since Britain broke with Washington two weeks ago, other major European economies have signed up for the Chinese-led bank. Australia also appears poised to join.

GREECE-BAILOUT

ATHENS, Greece (AP) -- Greece's alternate minister for international economic relations says his government is prepared for a "rupture" with the country's creditors if its current bailout negotiations don't go well.

Euclid Tsakalotos said Friday the government would not be negotiating properly if it didn't envisage a rupture with its partners, although he would not say what exactly a rupture might entail.

Greece's government is in talks with its creditors -- eurozone nations, the European Central Bank and the International Monetary Fund -- to unlock urgently needed funds from the country's bailout. It must present a list of reforms by early next week, which it hopes will lead to the disbursement.

Tsakalotos, speaking on private Star TV, said the government was intentionally creating ambiguity with its partners regarding its intentions as a negotiating tactic.

SILICON VALLEY-SEXUAL DISCRIMINATION

SAN FRANCISCO (AP) -- Jurors deciding the outcome of a much-watched gender discrimination lawsuit against a prestigious Silicon Valley venture capital firm are set to enter their third day of deliberations.

The jury of six men and six women are due back in San Francisco Superior Court on Friday in Ellen Pao's lawsuit against Kleiner Perkins Caufield & Byers.

Pao says the firm discriminated against her because she was a woman and then retaliated by denying her a promotion and firing her when she complained about gender bias.

Kleiner Perkins denies the allegations and says Pao had a history of conflicts with colleagues that contributed to the decision to let her go.

The case has put a spotlight on gender imbalance and working conditions for women in Silicon Valley.

ARCTIC OIL DRILLING

WASHINGTON (AP) -- U.S. oil storage facilities are filling up and the price of oil has collapsed, but an Energy Department advisory council says the U.S. should push now to exploit the trove of oil in the Arctic waters off of Alaska or risk a renewed reliance on imported oil.

The U.S. has drastically cut imports in recent years and transformed itself into the world's biggest producer of oil and natural gas by tapping huge reserves in shale rock formations. But the National Petroleum Council's study predicts that the shale boom won't last much beyond the next decade.

Exxon Mobil CEO Rex Tillerson chaired the committee that drafted the study. He says oil companies need to start probing the Artic because it takes decades of preparation and drilling to bring oil to market.

Geologists estimate the Arctic holds about a quarter of the world's undiscovered conventional oil and gas deposits. But environmental advocates say the Arctic ecosystem is too fragile to risk a spill.

OBAMA-CHEMICAL BOARD

WASHINGTON (AP) -- The U.S. Chemical Safety Board is operating without a permanent leader. Its chairman has been forced to resign, following accusations of mismanagement.

A White House official says Rafael Moure-Eraso (rah-fah-YEL' moh-RAY' eh-RAH'-soh) stepped down Thursday at the administration's request. The official spoke on condition of anonymity to discuss personnel matters.

The National Safety Council says the independent federal agency under Moure-Eraso repeatedly fell under scrutiny for board departures, delayed investigations and other issues. Members of the Senate Environment and Public Works Committee had accused Moure-Eraso of violating his oath of office and the law. Committee members had requested his resignation.

The board is responsible for investigating chemical accidents. Its members are appointed by the president and confirmed by the Senate.

President Barack Obama has nominated Vanessa Sutherland to succeed Moure-Eraso.



Advertise with us!

 
  • WICD :: News - Border Crisis

    Border Crisis

    Get the latest developments on the border control issue!
  • WICD :: News - Traffic

    Traffic

    Get the latest traffic reports from WICD ABC Newschannel 15!
  • WICD :: News - Ask the Expert

    Ask the Expert

    Do you need expert advice? Here's your chance to ask our experts!
  • WICD :: News - Live In The Studio

    Live In The Studio

    Local nonprofits and community leaders tell us about upcoming events in East Central Illinois.
  • WICD :: News - Pay It Forward

    Pay It Forward

    Pay It Forward... because sometimes people need a little extra help.
  • WICD :: News - Your Voice. Your Future.

    Your Voice. Your Future.

    As the country faces challenges from federal budget issues to jobs and national debt, your voice is critical to the future.
  • WICD :: News - Road Trippin

    Road Trippin

    Come Road Trippin' with us! Check out all the great attractions in your area!
  • WICD :: News - In The Kitchen

    In The Kitchen

    Some of the areas best chefs whip up their tastiest creations on Newschannel 15. Click here to see them in action and get their recipes to try at home.
  • WICD :: News - Be The Parent

    Be The Parent

    It's one of the hardest jobs in the world.  So let us help you.  Get parenting tips and see our latest video to help you be the parent.
  • WICD :: News - Cruisin' Illinois

    Cruisin' Illinois

    Get your motor running for the hottest motorcycle show in Central Illinois!
  • WICD :: News - On the Farm

    On the Farm

    Whether it's topical segments on what's happening on local farms to commodity prices, we have the world of central Illinois agriculture covered.
  • WICD :: News - Pet of the Week

    Pet of the Week

    The cutest video you'll see anywhere. Just one click and you won't be able to resist these adorable friends who need someone to love them.
  • WICD :: News - Washington Times

    Washington Times

    Politics, Breaking News, US and World News.
  • WICD :: News - Health Care Reform

    Health Care Reform

    The Supreme Court ruling to uphold the Affordable Care Act sparked a new battle. Check here daily for the latest developments, locally and across the country.
  • WICD :: News - Illinois Central

    Illinois Central

    Every week "Illinois Central" brings you the stories about the people in central Illinois. From our weekly "Cruisin' Illinois" segment " which features motorcycle culture " to the arts and everything ...
  • WICD :: News - Pump Patrol

    Pump Patrol

    Check out the NewsChannel 15 Pump Patrol to find the lowest prices, report low prices and get gas-saving tips.
  • WICD :: News - Raw News

    Raw News

    Watch extra news footage, full interviews, and extended stories that didn't make it on air.  "Raw News" may include content that is not suitable for children and is intended for mature ...

  • WICD :: News - Doug's Quick Takes

    Doug's Quick Takes

    Local organizations and community leaders tell you about events happening in the Central Illinois area.
  • WICD :: News - Waste Watch

    Waste Watch

    How are your tax dollars being spent? Waste Watch tracks whether local, state and federal governments or any groups are using your money wisely...or wasting it.


Tonight on WICD

5:00pm First News at Five
5:30pm ABC World News with David Muir
6:00pm News at Six
6:30pm Entertainment Tonight
7:00pm Cristela
7:30pm Cristela
8:00pm Shark Tank
9:00pm 20/20
10:00pm Nightside News

Complete Schedule »


Buzzed Driving Prevention PSA
Phases of the Moon Festival
News Team
Facebook
Sunrise Team