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Business

Average 30-year mortgage rate in the US falls to 6.69%

The average rate on a 30-year mortgage in the U.S. eased again this week, slipping to its lowest level since late October. The rate dropped to 6.69% from 6.81% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.03%. Borrowing costs on 15-year fixed-rate ...

Eli Lilly to invest $3B in Wisconsin factory expansion

Eli Lilly is spending another $3 billion to bulk up manufacturing as the drugmaker seeks to stoke production of some blockbuster drugs and future products. Lilly said Thursday it will expand a Kenosha County, Wisconsin, factory it bought early this year, and the investment will help meet ...

Two decades after bankruptcy, Chi-Chi’s is back

Chi-Chi's is making a comeback. The Mexican chain said this week that it plans to open some new restaurants next year. The locations would be the first since Chi-Chi's filed for bankruptcy protection in 2003. Michael McDermott, the son of Chi-Chi's founder, said he struck an agreement with ...

Senators grill airline officials

Members of a U.S. Senate subcommittee took aim at airline executives Wednesday for using an expanding menu of fees to charge customers for early boarding, better seats and other comforts that used to be part of the ticket price. Sen. Richard Blumenthal, D-Conn., said he thinks the federal ...

Losses in China lead to $5 billion charge for General Motors

DETROIT (AP) — The poor performance of General Motors' Chinese joint ventures is forcing the company to write down assets and take a restructuring charge totaling more than $5 billion in the fourth quarter of this year. The Detroit automaker said in a regulatory filing Wednesday that it ...