U.S. GDP Growth Revised Up to 3%
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U.S. economic growth was stronger than initially thought during the second quarter, a sign of momentum headed into the second half of 2017. Corporate profits fell 1.4% in the second quarter after rising 1.3% in the first, but profits were up 8.1% from a year earlier.
U.S.'s Largest Refinery Shuts Due to Harvey Flooding
The nation's largest refinery, in Port Arthur, Texas, has initiated a full shutdown due to flooding, as Tropical Storm Harvey pushes east of Houston, dumping more rain on the region.
ADP: U.S. Private Sector Adds 237,000 Jobs in August
Hiring at private U.S. employers grew more than expected, according to a recent report, showing the economy continues to grow although concerns are mounting about labor shortages.
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Fallout From Harvey to Disrupt Energy Markets Around the World
Tropical Storm Harvey is upending the flow of oil and petroleum all around the world-a consequence of the growing influence of the U.S. in the global energy industry.
Stocks Steady as North Korea Worries Fade
Stocks were steady as investors brushed aside the worries that followed North Korea's missile launch over Japan and parsed fresh readings on the global economy.
Weakening Harvey Comes Ashore Again, Dousing Louisiana
Tropical Storm Harvey, which has killed 19 people, came ashore again, bringing heavy rains and winds to southwestern Louisiana, but far less than the record rainfall it brought on Texas.
Fed's Powell Says Proposal for Bank Boards Will Simplify Responsibilities
The Federal Reserve's proposed easing of requirements for bank boards isn't meant to take the pressure off directors who sit on the boards, Fed Gov. Jerome Powell said.
Eurozone Economic Sentiment Hits 10-Year High
Economic sentiment in the eurozone reached its highest level in more than 10 years in August, led by rising confidence among industrial companies and in the services sector, the European Commission said.
Oil Falls as Floods Shut Down Texas Refineries
Oil prices fell and gas futures continued to soar as Tropical Storm Harvey flooded the Texas Gulf Coast, crippling the region's refining capacity and raising fears of fuel shortages.
Germany's Small Lenders Gripe About Low Rates
Low interest rates continue to weigh on the earnings of Germany's small lenders, a survey from the country's central bank and financial supervisor showed.
(END) Dow Jones Newswires
August 30, 2017 11:15 ET (15:15 GMT)