Economy

  • 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...
  • Ellen DeGeneres wins top US humor prize in DC
    Bildschirmfoto_2012-05-15_um_22.23.27 2012-05-16 03:47:24 UTC
    WASHINGTON (AP) -- Ellen DeGeneres, who broke ground in 1997 as the first lead character on prime-time TV to reveal she was gay, is winning the nation's top humor prize. The Kennedy Center for the Performing Arts announced Tuesday that DeGenere...
  • Eurozone avoids recession as Germany powers ahead
    Germany_powers 2012-05-15 20:16:51 UTC
    FRANKFURT (AP) — Germany prevented the economy of the 17 countries that use the euro from falling into a recession in the first quarter of the year despite a raging debt crisis that's raising the specter of the breakup of the currency union. Th...
  • US stocks waver; euro dives on Greece turmoil
    Us_stocks_waver__euro_dives_on_greece_turmoil 2012-05-15 20:13:23 UTC
    Stronger news about the U.S. economy stilled the ripples from Europe's latest political impasse Tuesday, pushing U.S. stocks between modest gains and losses. The euro and European stocks plunged as trading in New York began after efforts to for...
  • Dimon survives votes on pay, chairmanship
    Dc039cd8065944d4813a78259b111c63-e5ed10e8efc14bf9b56a670fc4d2452e-3 2012-05-15 19:45:05 UTC
    TAMPA, Fla. (AP) — The CEO of JPMorgan Chase survived a shareholder push Tuesday to strip him of the title of chairman of the board, five days after he disclosed a $2 billion trading loss by the bank. CEO Jamie Dimon also won a shareholder endo...
  • Euro minsters plead with Greece to stay the course
    Eu's_juncker_on_brexit_talks_-_we_have_made_the_breakthrough_we_needed 2012-05-14 19:28:05 UTC
    BRUSSELS (AP) — Leading European Union finance officials have pleaded with Greece not to renege on its bailout terms and to stay the course of its painful austerity program to prevent even worse economic hardship. Greeks fed up with the painful...
  • Oil starts week at lowest level in 2012
    Oil 2012-05-14 17:23:58 UTC
    NEW YORK (AP) — The price of oil has declined to its low for the year on continued doubts about Europe's ability to pay off massive government debts. Benchmark U.S. crude lost $1.57 to $94.56 per barrel in New York. It dipped to $93.65 per barr...
  • A black mark for survivor of financial crisis
    Is_recession_looming__us_household_debt_jumps_to_a_new_record_high 2012-05-12 23:56:59 UTC
    NEW YORK (AP) — The reputation that Jamie Dimon honed for decades on Wall Street has been severely damaged in a matter of days. In the 1980s and 1990s, he was the protege of banking industry legend Sanford Weill. In the early 2000s, he took ove...
  • Is Europe a safe place to buy? Not exactly
    Euro-diaalnews.com 2012-05-12 16:24:40 UTC
    NEW YORK (AP) — It often pays to zig when everybody else zags. If you were brave enough to put cash into the stock market three years ago — and very few small investors were — you've doubled your money. European stocks have lost about 15 percen...
  • Stock market inches higher despite bank slump
    Jpmorgan-chase 2012-05-11 17:31:50 UTC
    JPMorgan's surprise $2 billion trading loss prompted a sell-off in financial stocks Friday, but the broader market edged higher as investors decided this was a problem for investment banks and not other industries. The Dow Jones industrial aver...
  • Irish pose next democratic test for EU austerity
    Untitled 2012-05-11 13:47:10 UTC
    DUBLIN (AP) — When voters in Greece and France got the chance, they dealt a resounding "No!" to parties backing austerity measures. The Irish could be next to give the European Union's austerity plan a black eye. A May 31 referendum here asks t...
  • EU predicts 0.3 pct eurozone contraction in 2012
    Untitled 2012-05-11 13:40:51 UTC
    BRUSSELS (AP) — The European Union estimates that the economy of the 17 countries that use the euro is in recession in the wake of a debt crisis that has prompted savage spending cuts and a jump in unemployment to record highs. The European Com...
  • Nissan profit soars on record sales amid disaster
    539w 2012-05-11 13:37:27 UTC
    TOKYO (AP) — Nissan Motor Co.'s January-March profit more than doubled to 75.3 billion yen ($941 million) as the Japanese automaker achieved record sales despite production disruptions from last year's tsunami. Nissan annual global sales reache...
  • Cheaper gas drives US wholesale price index lower
    120412_ppi_hmed_0603p.photoblog500 2012-05-11 13:21:42 UTC
    WASHINGTON (AP) — A big decline in gas and energy costs drove a measure of U.S. wholesale prices lower in April. But outside that drop, inflation was tame. The Labor Department said Friday that the producer price index, which measures price cha...