Red Sox owner enters $70M deal for Boston Globe
2013-08-03 15:17:32 UTC
BOSTON (AP) — Businessman John Henry, the principal owner of the Boston Red Sox, has entered into an agreement to buy The Boston Globe for $70 million, a massive drop from its record $1.1 billion price two decades ago.
The impending purchase fr...
US consumer spending up 0.5 percent in June
2013-08-02 15:41:10 UTC
WASHINGTON (AP) — Consumers increased their spending in June at the fastest pace in four months even though their income growth slowed.
Consumer spending rose 0.5 percent in June compared with May, when spending was up 0.2 percent, the Commerce...
Sony swings back to quarterly profit on cheap yen
2013-08-01 06:44:17 UTC
TOKYO (AP) — Sony says it has swung back to profitability in the latest quarter, mainly because of a weak yen.
Net income for the April-June period was 3.5 billion yen ($35 million). Earnings also got a boost from improved smartphone and entert...
Omnicom, Publicis merge, forming biggest ad firm
2013-07-28 18:02:36 UTC
PARIS (AP) — Omnicom Group Inc. and Publicis Groupe SA say they are combining in a "merger of equals" that will create the world's largest advertising firm, one worth more than $30 billion.
The combined company will be called Publicis Omnicom G...
Hedge fund to operate as it faces US fraud charges
2013-07-26 11:01:11 UTC
NEW YORK (AP) — A giant hedge fund led by an embattled billionaire pledged to continue normal operations after an indictment accusing it of permitting an environment where extensive insider trading could reap hundreds of millions of dollars in ill...
Telefonica to buy Germany's E-Plus from KPN
2013-07-23 07:21:37 UTC
BERLIN (AP) — Spain's Telefonica plans to buy German mobile unit E-Plus from Dutch telecommunications company Royal KPN NV for 5 billion euros ($6.58 billion) plus shares, a deal that would create Germany's biggest cellphone operator in terms of c...
SEC files charges against hedge fund founder Cohen
2013-07-20 13:57:31 UTC
WASHINGTON (AP) — The Securities and Exchange Commission leveled its most direct shot against billionaire hedge-fund manager Steven A. Cohen on Friday by filing civil charges that accuse him of failing to prevent insider trading.
The SEC allege...
NYSE operator takes over LIBOR bank rate
2013-07-09 18:51:12 UTC
LONDON (AP) — The company behind the New York Stock Exchange will take over running and restoring confidence in the scandal-hit London interbank offered rate, or LIBOR, a UK committee has ruled.
The independent panel, set up by the UK governmen...
In urban revival beer creates small business hubs
2013-07-04 15:48:58 UTC
NEW YORK (AP) — To see how a small business can transform a neighborhood, just follow the barrels.
About 30 years ago, beer lovers wanting to create their own drinks started taking over abandoned old buildings in rundown city districts, refitte...
'The Heat' hot at box office but 'Monsters' rule
2013-06-30 21:15:53 UTC
LOS ANGELES (AP) — Sandra Bullock and Melissa McCarthy brought "The Heat" against Channing Tatum and Jamie Foxx at the box office.
The Fox action-comedy starring the funny ladies as mismatched detectives earned $40 million in second place in it...
PayPal looks to conquer space (payments)
2013-06-27 05:48:53 UTC
NEW YORK (AP) — PayPal wants to explore space — or at least begin to figure out how payments and commerce will work beyond Earth's realm once space travel and tourism take off.
PayPal, which is eBay Inc.'s payments business, says it is launch...
Microsoft to unveil latest Windows adjustments
2013-06-26 10:18:38 UTC
SAN FRANCISCO (AP) — Microsoft is giving people a peek into Windows 8.1, a free update that promises to address some of the gripes people have with the latest version of the company's flagship operating system.
Although the preview version of W...
Nissan CEO promises growth, calls pay average
2013-06-25 06:07:59 UTC
YOKOHAMA, Japan (AP) — Nissan Chief Executive Carlos Ghosn promised strong sales growth to shareholders Tuesday in a turnaround from natural disasters and a boycott in China set off by a territorial dispute.
He also told them he was paid ...
Tenet Healthcare buying Vanguard Health for $1.8B
2013-06-24 13:23:43 UTC
DALLAS (AP) — Tenet Healthcare Corp. is buying Vanguard Health Systems Inc. for about $1.8 billion, helping to expand its service offerings and broaden its geographic reach.
Tenet will pay $21 per share, a 70 percent premium to Vanguard Health'...
Vodafone launches bid for Kabel Deutschland
2013-06-24 13:19:10 UTC
LONDON (AP) — Britain's Vodafone PLC has launched a takeover bid for Germany's biggest cable operator, Kabel Deutschland, as part of its push to dominate media services in its biggest market.
Vodafone, a British cellphone company with wide inte...
Hostess: Twinkies to return to shelves July 15
2013-06-24 13:13:08 UTC
NEW YORK (AP) — Hostess is betting on a sweet comeback for Twinkies when they return to shelves next month.
The company that went bankrupt after an acrimonious fight with its unionized workers last year is back up and running under new owners a...
EU slaps levies on Chinese solar panel imports
2013-06-04 16:32:27 UTC
BERLIN (AP) — The European Union announced Tuesday that it is to impose anti-dumping levies on imports of Chinese solar panels, in a move that could trigger a trade war between two of the world's largest economies.
EU Trade Commissioner Kar...
Shares of Merck, Bristol jump on cancer drug news
2013-06-04 05:26:52 UTC
TRENTON, N.J. (AP) — Experimental drugs that help the immune system detect otherwise-invisible cancer cells shrank tumors and extended the lives of patients with advanced melanoma, according to early research some analysts are hailing as a...
US construction spending up 0.4 percent in April
2013-06-03 17:12:30 UTC
WASHINGTON (AP) — Spending on U.S. construction projects rose in April despite weakness in residential projects and government spending.
Construction spending rose 0.4 percent in April, compared with March, when spending fell a revised 0....
Stocks decline on earnings; Coca-Cola drops
2013-07-17 01:40:47 UTC
NEW YORK (AP) — A string of lackluster earnings reports from companies including Coca-Cola and Charles Schwab ended an eight-day winning streak for the Standard & Poor's 500 index.
Coca-Cola, the world's largest beverage maker, fell after the c...
Applications for US unemployment aid rise to 354K \
2013-05-30 16:53:25 UTC
WASHINGTON (AP) — The number of Americans seeking unemployment benefits rose 10,000 last week to a seasonally adjusted 354,000. Still, the level of applications is consistent with steady hiring and remains near a five-year low.
The Labor ...
Stocks jump after home prices, confidence surge
2013-05-28 16:20:26 UTC
NEW YORK (AP) — Stocks are rising sharply on Wall Street after U.S. home prices rose the most in seven years and consumer confidence reached a five-year high.
The Dow Jones industrial average climbed as much as 210 points during morning trading...
US home prices rise 10.9 pct., most since 2006
2013-05-28 16:19:28 UTC
WASHINGTON (AP) — U.S. home prices jumped 10.9 percent in March compared with a year ago, the most since April 2006. A growing number of buyers are bidding on a tight supply of homes, driving prices higher and helping the housing market reco...
US durable goods orders rise 3.3 percent in April
2013-05-24 16:13:43 UTC
WASHINGTON (AP) — U.S. orders for long-lasting manufactured goods rebounded in April, buoyed by more demand for aircraft and stronger business investment. The gains suggest economic growth may be holding steady this spring.
Orders for dur...
Survey shows China manufacturing contracting
2013-05-23 04:25:46 UTC
BEIJING (AP) — A survey shows China's manufacturing contracted this month, adding to signs a fragile economic recovery is slowing.
HSBC Corp. said Thursday the preliminary version of its monthly purchasing managers index fell to a seven-month...