Federal officials have told Southwest Airlines to fix the way it calculates the weight of luggage loaded on flights after finding frequent mistakes during a yearlong investigation. Southwest said Tuesday that it has made improvements in its methods for calculating the weight and balance of loads, and that it isn't facing enforcement action. The airline said that it voluntarily reported the issue to the Federal Aviation Administration last year.
Stocks shook off an early wobble on Wall Street Tuesday, finishing modestly higher and extending the market's gains into a fourth week. Solid earnings from Walmart encouraged investors to bid up other retailers and consumer goods companies. Communication services stocks and banks also contributed to the broad gains. Homebuilders also notched gains following an industry survey showing improved confidence among builders heading into the key spring homebuying season.
NEW YORK (AP) - Walmart defied a gloomy government retail sales report for December, delivering fiscal fourth-quarter profits and sales that beat Wall Street expectations. The world's largest retailer also enjoyed another quarter of surging e-commerce sales during the critical holiday period as it expanded its online assortment and services. Shares moved higher in afternoon trading Tuesday.
NEW YORK (AP) - Payless ShoeSource has filed for Chapter 11 bankruptcy protection and is shuttering its remaining stores in North America. The filing on Monday came a day after the shoe chain began holding going-out-of-business sales at its North American stores.
BRUSSELS (AP) - The European Union on Tuesday warned British Prime Minister Theresa May that her trip to EU headquarters to seek an elusive breakthrough in Brexit negotiations stands no chance of success when it comes to her central demand for the divorce deal to be reopened.
LONDON (AP) - Japanese carmaker Honda plans to close its car factory in western England in 2021, a fresh blow to the British economy as it struggles with the uncertainty associated with leaving the European Union next month. The company announced the decision, which will imperil 3,500 jobs and possibly many more, at a news conference in Tokyo.
ATHENS, Greece (AP) - Greece's central bank chief has asked Prime Minister Alexis Tsipras to intervene after a cabinet minister phoned him to tell him how to do his job and then allegedly leaked the conversation to the press. In a statement Tuesday, bank chief Yiannis Stournaras deplored the deputy minister's "unheard-of" attempt to influence the central bank, and urged Tsipras to protect the central bank's independence.
FRANKFURT, Germany (AP) - An index of investor confidence in Germany shows little expectation of a pickup in growth, a downbeat sign for Europe's largest economy and the wider 19-country eurozone. The ZEW institute's indicator rose a mere 1.6 points in February over January to minus 13.4 points and remains well below its long-term average of 22.4 points. ZEW President Achim Wambach said Tuesday that "at the moment we do not expect a rapid recovery of the slowing Germany economy."
BANGKOK (AP) - Stock mostly fell in Europe and Asia on Tuesday and U.S. markets looked set to open lower as Chinese and U.S. negotiators geared up for trade talks in Washington. Germany's DAX fell 0.4 percent to 11,256 while the CAC 40 in France slipped 0.5 percent to 5,141. Britain's FTSE 100 sank 0.7 percent to 7,168.
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