Economy

  • Morgan Stanley may refund some Facebook investors
    Untitled 2012-05-25 01:31:26 UTC
    NEW YORK (AP) — Morgan Stanley, the lead investment bank in Facebook's troubled initial public offering, will compensate retail investors who overpaid when they bought Facebook's stock in Friday's IPO, according to a source familiar with the matte...
  • Weekly US jobless aid applications dip to 370,000
    Unemployment-benefits-4.jpg_protect_0_0_1000_1000_crop_658_370_c 2012-05-24 20:51:37 UTC
    WASHINGTON (AP) — The number of people seeking unemployment benefits changed little last week, signaling modest job growth. The Labor Department said Thursday that weekly applications for benefits dipped by 2,000 to a seasonally adjusted 370,00...
  • EU running out of time as Greece nears the exit
    Untitled 2012-05-25 01:30:53 UTC
    ATHENS, Greece (AP) — European leaders insist they want to keep Greece in the eurozone, but are putting off any agreement on how they hope to accomplish that. Greece says it, too, wants to stay in the eurozone, but until after elections it's uncer...
  • Stock indexes drift lower as Europe fears loom
    Filekliqmx 2012-05-24 20:52:25 UTC
    NEW YORK (AP) — The Dow Jones industrial average and other stock indexes drifted lower Thursday after a meeting of European leaders failed to deliver any new steps to ease the region's debt crisis. The Dow dropped 54 points to 12,443 shortly be...
  • US bank earnings rose this winter to 5-year high
    111003_money_cash_bills_1 2012-05-24 20:51:06 UTC
    WASHINGTON (AP) — U.S. bank earnings rose in the first three months of the year to the highest level in nearly five years and the number of troubled banks fell for the fourth straight quarter. The mostly positive first-quarter earnings released...
  • US sales of new homes rose 3.3 percent in April
    Untitled 2012-05-23 19:00:26 UTC
    WASHINGTON (AP) — Americans bought more new homes last month, the latest evidence that the U.S. housing market could be starting to recover. New-home sales increased 3.3 percent in April from March to a seasonally adjusted annual rate of 343,00...
  • SAP to buy Ariba for $4.5B, extending cloud push
    Sap 2012-05-23 04:56:06 UTC
    NEW YORK (AP) — Business software maker SAP AG on Tuesday said it will buy Ariba Inc., which makes Web-based software that connects suppliers and buyers online, for about $4.51 billion. The deal continues Germany-based SAP's rivalry with databa...
  • Regulators probe bank's role in Facebook IPO
    Facebook-ipo-stocks-001-640x480 2012-05-23 04:41:24 UTC
    WASHINGTON (AP) — Regulators are examining whether Morgan Stanley, the investment bank that shepherded Facebook through its highly publicized stock offering last week, selectively informed clients of an analyst's negative report about the company ...
  • Market breaks losing streak, with China's help
    11058327-large 2012-05-22 00:53:56 UTC
    NEW YORK (AP) — Forget Facebook. This is still Apple's stock market. Apple — the world's most valuable company — climbed nearly 6 percent on Monday, helping propel major U.S. stock indexes to gains after a week of losses. The Standard & Poor's ...
  • Stock market breaks losing streak; Facebook falls
    Wall-street 2012-05-21 19:41:01 UTC
    NEW YORK (AP) — After three weeks of dumping stocks, investors finally found something to be hopeful about. Major U.S. indexes climbed Monday after falling every day last week. Investors latched on to weekend statements from China's Premier Wen...
  • Yahoo to sell half of its Alibaba stake for $7.1B
    21jackma-tmagarticle 2012-05-21 19:34:19 UTC
    HONG KONG (AP) — Struggling Internet company Yahoo Inc. has secured a lifeline after agreeing to sell half of its prized stake in Chinese e-commerce group Alibaba for about $7.1 billion, with most of the cash going to shareholders. The deal, an...
  • Where are Facebook's friends? Stock down after IPO
    0521-mark-zuckerberg-facebook-1 2012-05-21 18:53:35 UTC
    NEW YORK (AP) — Facebook's stock is tumbling well below its $38 IPO price in the social network's second day of trading as a public company on Monday. By early afternoon, the stock was at $34.04, down 11 percent from Friday's closing price of $...
  • APNewsBreak: 22 states join campaign finance fight
    649613a57d699d0c0e0f6a706700aae3 2012-05-20 23:08:59 UTC
    HELENA, Mont. (AP) — Twenty-two states and the District of Columbia are backing Montana in its fight to prevent the U.S. Supreme Court's 2010 Citizens United decision from being used to strike down state laws restricting corporate campaign spendin...
  • Europe faces difficult search for growth
    Cam_2217277b 2012-05-20 22:58:23 UTC
    WASHINGTON (AP) — On paper at least, European leaders agree: They need stronger growth measures to help their economies expand out of their 2½-year-old government debt crisis. Figuring out exactly what those new steps might be will be the hard par...
  • Stocks fall on Europe worries; Facebook debuts
    La-facebook-stock-stumbles-in-big-public-debut-001 2012-05-19 17:46:14 UTC
    It's going to take more than Facebook's initial public offering to push the stock market higher. Facebook shares rose 23 cents above their $38 offering price. It seemed like everything else fell. The Dow Jones industrial average has been in ...
  • Electric car network gets first test in Israel
    Electric_cars_t653 2012-05-19 17:41:56 UTC
    ROSH HAAYIN, Israel (AP) — Israeli entrepreneur Shai Agassi has begun rolling out the world's first nationwide electric car network. Now, will the drivers come? After more than $400 million in outlays and months behind schedule, dozens of elect...
  • Fire risk prompts recall of nearly 87,000 Jeeps
    S-jeep-wranglers-recalled-chrysler-large 2012-05-19 17:35:23 UTC
    DETROIT (AP) — Chrysler is recalling nearly 87,000 Jeep Wranglers in the U.S., Canada and elsewhere due to a risk of fires. The recall affects only Wranglers from the 2010 model year that have automatic transmissions and were built before July ...
  • Google gets China OK for Motorola deal
    Google-motorola-deal 2012-05-19 17:33:51 UTC
    NEW YORK (AP) — Google says authorities in China have approved its acquisition of Motorola Mobility. This brings the Internet search giant closer to completing its biggest deal ever. Google Inc. is buying the mobile phone maker for $12.5 billio...
  • Greek politics, Spain banks test eurozone survival
    Images 2012-05-18 17:50:09 UTC
    MADRID (AP) — Chaos in Greek politics and Spanish banking combined this week to underscore just how fragile Europe's economy remains after an eviscerating austerity regime that has spawned unemployment, desperation and misery. And there is no resp...
  • Wal-Mart's 1Q profit up 10.1 percent
    111123030717_walmart 2012-05-17 22:13:33 UTC
    NEW YORK (AP) — Wal-Mart may have gotten its groove back, but an alleged bribery scheme threatens to curtail its progress. As Wal-Mart reported first-quarter profit on Thursday that beat Wall Street estimates, the world's largest retailer also ...
  • Oil hovers below $93 after sharp 2-week sell-off
    6638166.bin 2012-05-18 05:41:51 UTC
    SINGAPORE (AP) — Oil prices hovered below $93 a barrel Friday in Asia, pausing after the latest twists in Europe's debt crisis triggered a sharp two-week selloff. Benchmark oil for June delivery was up 4 cents to $92.60 a barrel at midday Singa...
  • Oil rises above $93 as traders mull Europe turmoil
    Untitled 2012-05-17 03:53:39 UTC
    SINGAPORE (AP) — Oil prices hovered near $93 a barrel Thursday in Asia as traders mulled whether concern over Europe's debt crisis justifies extending a sharp sell-off during the last two weeks. Benchmark oil for June delivery was up 26 cents t...
  • Companies ask: Does advertising on Facebook pay?
    Untitled 2012-05-17 01:43:33 UTC
    NEW YORK (AP) — Responding to extraordinary demand, Facebook said Wednesday that it would sell more stock in the company's initial public offering. But ahead of the IPO, a debate emerged between two of the nation's largest automakers: Does it pay ...
  • Price of oil still falling as supplies grow
    11031058-large 2012-05-16 23:48:33 UTC
    NEW YORK (AP) — The price of oil continues to decline on the expectation that world markets will be flush with extra supplies this year. Benchmark U.S. crude on Wednesday fell by $1.17 to finish at a seven-month low of $92.81 per barrel in New ...
  • Asia stocks fall amid political turmoil in Greece
    Untitled 2012-05-16 03:59:34 UTC
    BANGKOK (AP) — Asian stocks fell Wednesday after a failure by Greece's political leaders to form a coalition government set the stage for new elections next month, keeping Europe's debt crisis centerstage. Japan's Nikkei 225 index dropped 0.8 p...