Coca-Cola Co (KO.N) reported a slightly higher-than-expected profit on Tuesday as sales in North America, its biggest market, rose for the first time in four quarters, offsetting the impact of a stronger dollar on its overseas business.
gasoline
U.S. economic growth slowed sharply in the fourth quarter as weak business spending and a wider trade deficit offset the fastest pace of consumer spending since 2006.
U.S. export regulators are seeking more information from at least three would-be exporters of domestic condensate, including Marathon Oil, while half a dozen other firms have recently been cleared to sell the abundant ultra-light oil abroad, people familiar with the process told Reuters.
The recent rout in oil prices could delay the onset of "peak oil demand," or zero global demand growth, by around five years to beyond 2030, Bank of America Merrill Lynch (BofA) said.
Investors hope the lower gasoline cost is putting more money in consumers' wallets for spending on apparel and other retail goods. The next two weeks will indicate whether that's happening.
The White House does not feel pressure to loosen restrictions on U.S. oil exports further and views debate over the issue as resolved for now, John Podesta, a top aide to President Barack Obama, told Reuters in an interview.
The average price of a gallon of gasoline in the United States fell 25 cents in the past two weeks, tumbling to its lowest level in more than five-and-a-half years, according to the Lundberg survey released Sunday.
Jack Reed can see the recovery taking hold at his family's 109-year-old clothing store in Tupelo, Mississippi, with sales buoyed in part by the paychecks tied to a Toyota plant up the road and rising confidence that the jobs are here to stay.
The average price of a gallon of gasoline in the United States has dropped one dollar since early May, the lowest price in more than four years, according to the Lundberg survey released Sunday.
Mall crowds were relatively thin on Black Friday in a sign of what has become the new normal in U.S. holiday shopping: the mad rush is happening the night of Thanksgiving and more consumers are picking up deals online.
U.S. consumer spending fell for the first time in eight months in September, suggesting the economy lost some momentum heading into the fourth quarter.
A robust pace of business spending likely buoyed U.S. economic growth in the third quarter, a sign corporate chieftains have confidence in the sustainability of the recovery.
More than a dozen oil producers have joined to lobby the federal government to reverse the 40-year-old ban on U.S. crude exports, a move that supporters say would create jobs and keep the energy boom alive, a spokesman for one of the companies and a lobbyist for another one said on Friday.
An unusual disconnect has emerged in the U.S. oil market, with headline futures slumping to levels below $90 a barrel even as traders in the physical crude market report surprisingly robust demand and strong pricing.
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