German trade surplus widens to new record high
2013-11-08 07:50:37 UTC
BERLIN (AP) — Germany's trade surplus widened in September to a record high, as exports rose and imports dropped in a development underlining criticism that Europe's largest economy is relying too heavily on foreign trade.
The Federal Statistic...
Twitter is powerful, but where are the profits?
2013-11-06 11:21:28 UTC
NEW YORK (AP) — It can help overthrow dictators. But can it make money?
Protesters famously used Twitter to organize during the Arab Spring three years ago. President Barack Obama announced his 2012 re-election victory using the short messaging...
China recycling cleanup jolts global industry
2013-10-03 09:52:13 UTC
BEIJING (AP) — China for years has welcomed the world's trash, creating a roaring business in recycling and livelihoods for tens of thousands. Now authorities are clamping down on an industry that has helped the rich West dispose of its waste but ...
US consumer confidence dips as jobs outlook dims
2013-09-24 19:43:19 UTC
WASHINGTON (AP) — Americans' confidence in the economy fell slightly in September from August, as many became less optimistic about hiring and pay increases over the next six months.
The Conference Board, a New York-based private research group...
US retail sales rise slight 0.2 percent in August
2013-09-13 18:00:44 UTC
WASHINGTON (AP) — Americans boosted their spending at retail businesses only modestly in August, indicating that economic growth remains sluggish. Consumers bought more cars, furniture and electronics last month but held back on most other purchas...
In Nokia acquisition, Microsoft tries to catch up
2013-09-04 07:18:43 UTC
SAN FRANCISCO (AP) — Microsoft's acquisition of Nokia's troubled smartphone business represents a daring $7.2 billion attempt by the software giant and a once-influential cellphone maker to catch up with the mobile computing revolution that threat...
Vodafone confirms late-stage talks with Verizon
2013-09-01 22:02:30 UTC
NEW YORK (AP) — Vodafone says it is in advanced talks to sell its 45 percent stake of Verizon Wireless back to the U.S. cellphone service provider for $130 billion in cash and stock, a deal which would be the second-largest on record if it goes th...
Bill Ackman bails out of JC Penney
2013-08-26 23:05:44 UTC
NEW YORK (AP) — J.C. Penney's largest investor and former board member is bailing out.
William Ackman of Pershing Square Capital Management is selling his nearly 18 percent stake, or 39.1 million shares, in the struggling retailer, according to...
Rockwell Collins buys ARINC for $1.39 billion
2013-08-12 04:45:47 UTC
CEDAR RAPIDS, Iowa (AP) — Aviation and military electronics maker Rockwell Collins said Sunday it is buying Annapolis, Md.-based ARINC Inc. from the investment firm The Carlyle Group for $1.39 billion.
Cedar Rapids-based Rockwell Collins, which...
TV blackouts aren't shutting out fans completely
2013-08-10 07:13:14 UTC
LOS ANGELES (AP) — A week into the blackout of CBS programming to millions of Time Warner Cable subscribers, viewers are finding workarounds.
Nancy Keiter, a graphic designer in New York, plans to watch early rounds of the PGA Championship golf...
Carlos Slim bids for Dutch telecom KPN
2013-08-09 06:44:34 UTC
AMSTERDAM (AP) — America Movil SAB, owned by Mexican billionaire Carlos Slim, says it will launch a bid for the 70 percent of Dutch telecom company Royal KPN NV it doesn't already own.
The 2.40 euros per share bid represents a 20 percent premiu...
Correction: Washington Post-Bezos story
2013-08-08 08:33:56 UTC
SAN FRANCISCO (AP) — In a story Aug. 6 about the sale of The Washington Post, The Associated Press erroneously spelled the last name of a co-author of "The Innovator's DNA." The correct spelling is Hal Gregersen, not Hal Gregerson.
A corrected ...
China, Russia halt some NZ dairy imports
2013-08-05 06:14:27 UTC
WELLINGTON, New Zealand (AP) — A botulism scare has prompted China and Russia to stop importing some New Zealand dairy products, denting the country's reputation as a supplier of safe, high quality food.
New Zealand dairy giant Fonterra announc...
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...