ABC 20 Streaming LiveSpotlight 20Pump PatrolRaw NewsIn the KitchenKnow Your Candidates

Forecast

FRIDAY: Mostly sunny, windy and colder. High: 44. Winds: North 20-25 mph, gusting to 35 mph.

FRIDAY NIGHT: Mostly clear and cold. Breezy in the evening with widespread frost after Midnight. Low: 28. Winds: North 10-15 mph, ...

more »

Advertise with us!

WICS Newschannel 20 :: News - Business News

Business News

Last Update on October 31, 2014 07:28 GMT

WORLD-FINANCIAL MARKETS

SEOUL, South Korea (AP) -- Japan's Nikkei 225 stock average surged 5 percent and the yen slid against the dollar after the Bank of Japan unexpectedly announced new stimulus to boost a flagging economic recovery.

Other Asian stock markets were also higher after the Japanese central bank's announcement Friday. The dollar rose 1.2 percent to 110.64 yen.

The bank said it would increase its asset purchases by between 10 trillion yen and 20 trillion yen ($90.7 billion to $181.3 billion) to about 80 trillion yen ($725 billion) annually.

The Nikkei was up 4.6 percent at 16,380.11 after shedding some of its initial gains. Hong Kong's Hang Seng rose 1.2 percent and Seoul's Kospi was up 0.1 percent.

ECONOMY-THE DAY AHEAD

WASHINGTON (AP) -- Today. the Commerce Department will release its September report on consumer spending, which accounts for 70 percent of economic activity in the U.S.

Also, the University of Michigan will issue its monthly index of consumer sentiment for October. In September, the index reached its highest level since July 2013, led by greater optimism that the economy will grow and incomes will rise.

The Labor Department will also release the third-quarter employment cost index.

Before the market opens, Exxon Mobil will report its quarterly financial results.

CITI-REVISED EARNS

NEW YORK (AP) -- Citigroup is slashing its third-quarter earnings by $600 million, saying that recent investigations by regulators have altered the results it reported earlier this month.

The New York-based bank on Thursday revised its quarterly net income to $2.8 billion from a previously reported $3.4 billion, citing legal expenses.

The bank's operating expenses rose from $12.36 billion to about $13 billion.

The company said in a statement the unexpected increase came from "rapidly-evolving regulatory inquiries and investigations, including very recent communications with certain regulatory agencies related to previously-disclosed matters."

Citi previously reported third-quarter net income of $3.44 billion, or $1.07 per share, on Oct. 14. The results exceeded Wall Street estimates.

Like other major banks, Citigroup has been the target of lawsuits and government investigations for its role in the mortgage meltdown that helped spur the financial crisis of 2008.

SURGICAL GOWNS LAWSUIT

LOS ANGELES (AP) -- A lawsuit says Kimberly-Clark Corp. falsely claimed its surgical gowns met the highest standards for protecting against Ebola and other infectious diseases.

Lead attorney Michael Avenatti says the Texas hospital where two nurses contracted Ebola used to stock the gowns but it's not clear if the nurses had used them.

The $500 million fraud suit was filed Wednesday in federal court in Los Angeles on behalf of a surgeon who wore the gowns.

The lawsuit says Kimberly-Clark knew for a year that the gowns failed industry tests and allowed the transfer of bodily fluids, bacteria and viruses, but the company still promoted them as having the highest level of impermeability.

The maker of Kleenex and other consumer products says it doesn't comment on lawsuits but stands behind its products' safety.

Business Stories

Videos Coming Soon!

Business News

Japan stocks soar 5 percent, yen falls on stimulus

SEOUL, South Korea (AP) -- Japan's Nikkei 225 stock average surged 5 percent and the yen slid against the dollar after the Bank of Japan unexpectedly announced new stimulus to boost a flagging economic recovery.

Advertise with us!

 
  • WICS :: News - Tracking Ebola

    Tracking Ebola



  • WICS :: News - Know Your Candidates

    Know Your Candidates

    Learn about the candidates running for office near you!
  • WICS :: News - Traffic

    Traffic

    Get up to the minute traffic reports from WICS NewsChannel 20!
  • WICS :: News - Road Trippin News

    Road Trippin News

    Missed a Road Trippin segment that aired in the news? Check it out here!
  • WICS :: News - Health Matters

    Health Matters

    Featuring news segment videos about health.
  • WICS :: News - In The Kitchen

    In The Kitchen

    Watch the area's best chefs whip up their tastiest creations. See them in action and get their recipes to try at home. 
  • WICS :: News - Behind The Headlines

    Behind The Headlines

    Get Behind the Headlines commentary with Mark Hyman.
  • WICS :: News - Ready, Set, Shred

    Ready, Set, Shred

    In an exclusive eight-week investigation, ABC Newschannel 20 digs deep into the Springfield police document shredding scandal.
  • WICS :: News - Pay it Forward

    Pay it Forward

    Pay It Forward... because sometimes people need a little extra help.
  • WICS :: News - Ask the Expert

    Ask the Expert

    Do you need expert advice? Here's your chance to ask our experts!
  • WICS :: 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.
  • WICS :: News - Road Trippin

    Road Trippin

    Come Road Trippin' with us! Check out all the great attractions in your area!
  • WICS :: News - Pump Patrol

    Pump Patrol

    Check out the ABC Newschannel 20's Pump Patrol to find the lowest prices, report low prices and get gas saving tips.

  • WICS :: News - Spotlight 20

    Spotlight 20

    Local organizations and community leaders tell us about events in central Illinois.
  • WICS :: 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 audiences only.
  • WICS :: 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.
  • WICS :: News - Fugitive Files

    Fugitive Files



  • WICS :: News - Home Room

    Home Room

    When's the next school board meeting? Where's the basketball game? What's for lunch today? Do we have a snow day tomorrow? We have all the information you need for a successful school year--no pencil or ...
  • WICS :: News - No Text Zone

    No Text Zone

    Texting while driving kills thousands of people each year. Many more are seriously injured.  Keep central Illinois roads safe by taking the "No Text Zone" pledge.
  • WICS :: News - Business News

    Business News

    Stay up-to-date on the biggest business stories from around the nation.
  • WICS :: News - Pet of the Week

    Pet of the Week

    The cutest video you'll see anywhere! You won't be able to resist these adorable friends who need someone to love them.
  • WICS :: News - Waste Watch

    Waste Watch

    How are your tax dollars being spent? Waste Watch tracks whether local, state and federal governments are using your money wisely...or wasting it.
  • WICS :: News - Washington Times

    Washington Times

    Politics, Breaking News, US and World News.
  • WICS :: 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.

more »

Tonight on WICS

7:00pm
Last Man Standing
Mike gives Mandy business advice, but she decides to do things her own way. TV-PG

7:31pm
Cristela
Cristela persuades Maddie to dress up like Hall & Oates with her. TV-PG

8:00pm
Shark Tank
Exercise clothing that provides hyper-gravity weight training; beard oils and mustache waxes. TV-PG

9:01pm
20/20
Investigative reporting.

10:00pm
Newschannel 20 at 10

10:35pm
Jimmy Kimmel Live!
Halloween costume pageant; actor Andy Samberg; actress Rosie Perez; The Flaming Lips perform. TV-14

11:37pm
Nightline
On the Hunt for Killer Caimans; Cronut Creator Reveals How to Make Secret Recipe at Home

 


Complete Schedule »


WICS Pay It Forward
Scandal
WICS Cheers For The Years
Jimmy Kimmel
WICS Storm Team