The federal government ran a budget deficit in March that was sharply higher than a year ago. Through the first half of this budget year, the deficit is running 14.7 percent higher than the same period a year ago.
The deficit totaled $176.2 billion in March, compared with $108 billion in March 2016, the Treasury Department said. A big part of that jump reflected $42 billion in April benefit payments shifted into March because April 1 fell on a Saturday. Through the first six months of this budget year, the deficit is $526.9 billion.
BlackBerry said it has been awarded $814.9 million in a binding interim arbitration decision in a dispute with Qualcomm over royalty overpayments. The companies agreed last year to arbitrate a disagreement over whether Qualcomm’s pledge to cap certain royalties applied to payments made by BlackBerry under a license deal.
Rising fuel costs hurt Delta’s first-quarter profit, which dropped 36 percent from the same period a year before. But the company’s adjusted earnings beat expectations. Delta reported net income of $603 million, or 82 cents per share, down from $946 million in the same quarter a year ago. Adjusted earnings were 77 cents per share, surpassing expectations by 4 cents. Revenue fell 1 percent to $9.15 billion in the period.
Amazon is introducing new tools to help parents see what their kids are doing on the company’s Fire tablets. Parents who sign up with Amazon’s FreeTime service will be able to view each child’s activities. Information will include the amount of time spent on e-books, videos, apps and Web browsing. (Amazon chief executive Jeffrey P. Bezos owns The Washington Post.)
Sculptor Arturo Di Modica is demanding that the “Fearless Girl” statue that has faced off against his “Charging Bull” statue on Wall Street since last month be removed. He says Kristen Visbal’s statue of a girl with hands on hips has turned his 11-foot-tall bull, which is supposed to represent “freedom in the world, peace, strength, power and love,” into something negative.
— From news reports
8:30 a.m.: Labor Department releases weekly jobless claims.
10 a.m.: Freddie Mac releases weekly mortgage rates.
Earnings: Citigroup, JPMorgan Chase.