National
U.S. consumer confidence risesWASHINGTON — A stronger job market lifted consumer confidence in December, a business group said Tuesday.The Conference Board's consumer confidence index rose to 96.5 this month from November's revised 92.6.Americans were more optimistic about current conditions and about the future.“As 2015 draws to a close, consumers' assessment of the current state of the economy remains positive, particularly their assessment of the job market,” said Lynn Franco, the group's director of economic indicators.More than two-thirds of consumers said they expected interest rates to rise over the next year, highest share since August 2013. On Dec. 16, the Federal Reserve raised the short-term interest rate it controls for the first time since 2006.Hiring has been healthy in 2015. Employers are adding an average of 210,000 jobs a month through November. Unemployment has stayed at a seven-year low 5 percent for two straight months. Confidence had dipped unexpectedly in November and this month remained below readings around 100 from August through October.
Pep Boys soars on latest Icahn offerNEW YORK — Carl Icahn appears to have emerged as the winner of the bidding war for auto parts and services retailer Pep Boys after Japanese tiremaker Bridgestone said it won't counter his latest offer of about $1 billion.Shares of Pep Boys hit their highest point in eight years on Tuesday after the company received a sweetened offer from Icahn of $18.50 in cash per share. That was up $2 per share from Icahn's earlier bid and $1.50 better than the latest from Bridgestone.
SeaWorld sues over ban on breedingSAN DIEGO — SeaWorld filed a lawsuit Tuesday challenging a California commission's ruling that bans the company from breeding captive killer whales at its San Diego park.The suit filed in San Diego County Superior Court says the California Coastal Commission was outside its authority when it made the ruling on breeding in October.The commission endorsed a $100 million expansion of the tanks known as “Blue World” that SeaWorld uses to hold orcas, but in a surprising and serious blow to the park, included a ban on breeding at the planned facility and prohibitions on the sale, trade or transfer of the whales.
DuPont cutting jobs ahead of mergerDuPont will cut 1,700 jobs in its home state of Delaware and thousands more globally as it prepares for its merger with Dow Chemical.Dow and DuPont announced earlier this month that they would join to create a giant chemical producer that will eventually be split into three independent companies.At that time, DuPont announced a $700 million cost savings and restructuring program but did not specify how many jobs would be impacted or where.
