Nation & World News

NEW YORK (AP) — The Dow Jones industrial average has closed at its highest level since before the 2008 financial crisis.

WASHINGTON (AP) — In a long-awaited surge of hiring, companies added 243,000 jobs in January — across the economy, up and down the pay scale and far more than just about anyone expected. Unemployment fell to 8.3 percent, the lowest in three years.

BOISE, Idaho (AP) — The chief executive and chairman of the Boise-based memory chip maker Micron died Friday morning when a small, experimental fixed-wing plane he was piloting crashed at the Boise airport, the company said.

BLOOMINGTON (AP) — State Farm Insurance plans to hire 3,000 people across the U.S. and Canada and add 900 agents.

TORONTO (AP) — Caterpillar Inc. said Friday it will close its Electro-Motive plant in Canada, where workers have been locked out since the start of the year.

DEERFIELD (AP) — Spirits company Beam Inc. said Friday that its fourth-quarter net income rose 10 percent on improving sales of its major brands, new product launches and lower costs.

Retailers’ results mixed

AMSTERDAM (AP) — Royal Dutch Shell PLC's top executives dismissed weaker than anticipated fourth quarter earnings as a blip on Thursday and said Europe's biggest oil company would embark on a new program to boost production, notably in North America.

WASHINGTON (AP) — The number of people seeking unemployment aid fell last week, a sign that companies are cutting fewer jobs and likely stepping up hiring.

Chrysler profits, CEO confirms Belvidere jobs

DETROIT (AP) — Higher sales of Jeeps and other new vehicles propelled Chrysler to its first annual profit since 1997, capping a pivotal turnaround that many thought would never happen.

U.S. stocks had a big January and they're starting February strong, too.

WASHINGTON (AP) — The Obama administration is trying to fix a stubborn drag on the economy by allowing millions of more homeowners to refinance their mortgages at lower interest rates even if they owe more than their homes are worth, tackling a difficult issue of vital concern in states key to President Barack Obama's re-election.

Dow, S&P have best

BRUSSELS (AP) — The European Union on Wednesday blocked the Deutsche Boerse's planned merger with NYSE Euronext, a $10 billion deal that would have created the world's largest financial exchange operator.

NEW YORK (AP) — It's the best start for stocks in 15 years.

NEW YORK (AP) — Soaring oil prices helped Exxon Mobil post a slightly higher fourth-quarter profit. But a slowdown in production and lower natural gas prices are worrying investors.

DECATUR, Ill. (AP) — Archer Daniels Midland's second-quarter net income tumbled 89 percent, the company said Tuesday, weighed down by hefty impairment charges and weakness in its three major segments, oilseeds, corn processing and agricultural services.

WASHINGTON (AP) — Seeking cooperation in a polarized climate, President Barack Obama called on Congress Tuesday to act quickly on bipartisan measures that would extend tax breaks for small businesses and help startup companies raise money. He said he would sign the legislation "right away."

EL SEGUNDO, Calif. (AP) — Mattel Inc. says strong holiday demand for toys including Barbie, Hot Wheels and American Girl helped push its fourth-quarter net income up 14 percent.

TOKYO (AP) — Battered by the strong yen and supply disruptions from Thailand's floods, Honda said Tuesday that its net earnings in the October-December quarter tumbled 41 percent to 47.6 billion yen ($625 million) and projected a sharply lower full-year profit.

INDIANAPOLIS (AP) — Drugmaker Eli Lilly and Co.'s net income tumbled 27 percent in the last quarter of 2011 as the loss of a key patent protecting its top-seller Zyprexa hurt revenue, but the performance still topped Wall Street expectations.

NEW YORK (AP) — Pfizer Inc.'s fourth-quarter profit fell by half due to one-time charges and a drop in U.S. revenue, which was hurt by blockbuster cholesterol drug Lipitor losing patent protection. It still beat Wall Street expectations.

WASHINGTON (AP) — Americans' income rose in December by the most in nine months, a hopeful sign for the economy after a year of weak wage gains. But consumers didn't spend any more than they had in November.

TOKYO (AP) — Exxon Mobil Corp. is selling its Japanese refining and marketing business to partner TonenGeneral Sekiyu K.K. in a $3.9 billion deal that reflects a long-term decline in Japan's demand for fuel and a global strategy to refocus on exploration.

DUBLIN, Ohio (AP) — Wendy's Co. says its adjusted earnings fell 29.5 percent in the fourth quarter, while its revenue rose 5.6 percent,

PHILADELPHIA (AP) — Auto parts chain The Pep Boys — Manny, Moe & Jack says it has agreed to be taken private by investment firm The Gores Group for about $791 million.

WASHINGTON – What’s next, cameras in the Federal Reserve’s meetings?

NEW YORK – Apple is worth $415 billion, putting it neck and neck with Exxon Mobil as the world’s most valuable company. But by standard Wall Street measures, its stock is a bargain.

WSJ reports Chrysler to

NEW YORK (AP) — Stocks were drifting lower Friday after the government reported the U.S. economy grew at a slower pace than economists had expected in the fourth quarter.

DEARBORN, Mich. (AP) — An accounting change boosted Ford's fourth-quarter net income, but without the gain the company fell short of Wall Street's expectations.

WASHINGTON (AP) — The U.S. economy grew at a 2.8 percent annual rate in the final three months of last year, the fastest growth in 2011.

Nelson’s Jewelry founder dies at age of 86

NEW YORK – The Dow Jones industrial average rose above its highest closing price since the financial crisis Thursday morning but the rally quickly fizzled, leaving stocks slightly lower in afternoon trading.

WASHINGTON (AP) — The number of people seeking unemployment benefits rose last week to a seasonally adjusted 377,000, up from a nearly four-year low the previous week. But the longer-term trend is pointing to a healthier job market.

CHICAGO – The parent company of United and Continental airlines posted a narrower fourth-quarter loss as the cost of integrating the companies fell.

NEW YORK (AP) — AT&T is reporting a fourth-quarter loss because of some hefty charges, but strong smartphone sales led to the company's best-ever quarter in activations.

CHICAGO (AP) — Sixteen percent of homes sold in Illinois in the third quarter of 2011 were in foreclosure or owned by a bank.

LOUISVILLE, Ky. (AP) — Taco Bell, the fast-food chain that caters to late-night snacking, is making a play for the breakfast crowd.

HELSINKI (AP) — Mobile phone maker Nokia Corp. on Thursday posted a fourth-quarter net loss of €1.07 billion ($1.38 billion) as sales slumped 21 percent even as the company's first Windows smartphones hit markets in Europe and Asia.

Abbott cuts 500 jobs, most in California

The stock market bounced to its highest close since last spring Wednesday after the Federal Reserve pledged to keep interest rates near zero for almost three more years.

SAN FRANCISCO (AP) — Netflix regained 600,000 U.S. customers in the fourth quarter as the video subscription service began to recover from a revolt against a big price increase.

WASHINGTON (AP) — The Federal Reserve's announcement that it is unlikely to raise its benchmark interest rate until late 2014 is simply its "best guess," Ben Bernanke said Wednesday.

NORTH CHICAGO (AP) — Medical device and drugmaker Abbott Laboratories says it will lay off about 500 employees – most of them based in California – as part of ongoing restructuring efforts in its medical device and diagnostic businesses.

Delta says it earned $425 million in the fourth-quarter as it raised prices in the critical holiday season while reducing flying to keep costs low.

MINNEAPOLIS (AP) — Boeing says its fourth-quarter net income jumped 20 percent as it delivered more planes and a brisk commercial aircraft business offset a flat quarter for defense.

McDonald’s profits

NEW YORK (AP) — Verizon posted a large loss for its latest quarter on an adjustment for the value of its pension plans, but also saw more people signing contracts for wireless service.