Asia's budget airline boom bypasses China
2012-09-27 10:27:57 UTC
HONG KONG (AP) — When businesswoman Ren Hong flew home after a recent trip to Beijing on state-owned Air China, she was hoping for a decent inflight meal to tide her over until she got back to the spicy cuisine of her native Sichuan province.
NYT to sell Indeed.com for $100M gain
2012-09-25 21:17:41 UTC
Leading Japanese HR services business Recruit Co. will acquire top job search site Indeed.com, the companies announced today.
Stamford, Conn.-based Indeed was launched in 2004 and claims to attract 80 million unique visitors per month. It has l...
US consumer confidence jumps to 7-month high.
2012-09-25 19:38:50 UTC
NEW YORK (AP) — Americans' confidence in the economy jumped this month to the highest level since February, bolstered by a brighter outlook for overall business conditions and hiring.
The Conference Board said Tuesday that its Consumer Confiden...
Economists say US needs more taxes, spending cuts
2012-09-24 13:45:07 UTC
NEW YORK (AP) — The best way to reduce the federal deficit is through a combination of higher taxes and spending cuts, according to a group of economists.
The 236 members of the National Association for Business Economics recently surveyed sa...
Unproductive Congress skips town until November
2012-09-22 11:59:41 UTC
WASHINGTON (AP) — The most partisan, least productive Congress in memory has skipped out of Washington so lawmakers can make their case for voters to re-elect them.
The Senate closed the Capitol not long after sending President Barak Obama a sp...
Zara store owner Inditex profit up 32 pct in H1
2012-09-19 09:35:58 UTC
MADRID (AP) — Spanish clothes retailer Inditex, which owns the Zara store chain, has posted a 32 percent increase in first-half net profit as it continued expanding in emerging markets.
Inditex said Wednesday that sales for the first six mont...
China files trade case against Washington
2012-09-18 08:37:34 UTC
BEIJING (AP) — China filed a World Trade Organization case Monday challenging U.S. anti-dumping measures on billions of dollars of kitchen appliances, paper and other goods, adding to worsening trade strains as global demand weakens.
Global markets slip as Fed-driven euphoria fades
2012-09-17 11:37:32 UTC
LONDON (AP) — Global stock markets were muted Monday as the boost faded from the Federal Reserve's announcement last week of new measures to energize the U.S. economy.
Signs that European governments will take longer than expected to agree th...
India central bank cuts cash reserve ratio
2012-09-17 11:06:48 UTC
NEW DELHI (AP) — India's central bank Monday cut the cash reserve ratio as it tries to kick-start flagging growth and welcomed government efforts to open Asia's third-largest economy to more foreign investment.
The Reserve Bank of India said ...
Spanish rail and subway transport hit by strikes
2012-09-17 11:01:28 UTC
MADRID (AP) — Hundreds of Spanish train services have been canceled, resulting in traffic jams on roads into Madrid and Barcelona, as rail and subway workers staged strikes to protest wage cuts and reforms.
State rail company RENFE said Monda...
Federal judge hands Samsung setback against Apple
2012-09-15 22:05:39 UTC
NEW YORK (AP) — In a preliminary move, a federal judge has denied Samsung's request for a ban on imports of the iPhone, iPad and iPod.
It's another setback for Samsung in a globe-spanning legal battle, where each company is accusing the other o...
Dow average dumps Kraft Foods for UnitedHealth
2012-09-14 18:17:06 UTC
NEW YORK (AP) — The Dow Jones industrial average is dumping Cool Whip for copays.
The Dow, perhaps the most widely known barometer of the U.S. stock market, announced Friday that it would boot Kraft Foods to make room for UnitedHealth Group, th...
Fed to spend $40B a month on bond purchases
2012-09-13 19:17:02 UTC
WASHINGTON (AP) — The Federal Reserve unleashed a series of bold and open-ended steps Thursday to stimulate the economy by making it cheaper for consumers and businesses to borrow and spend.
The Fed said it will spend $40 billion a month to buy...
As Fed ends meeting, many expect bold action
2012-09-13 04:20:08 UTC
WASHINGTON (AP) — The Federal Reserve ends a two-day meeting Thursday with expectations high for some new action to jolt the lackluster U.S. economy.
Many investors hope the Fed will take the bold step of launching a third bond-buying program. ...
New iPhone with taller screen out next week
2012-09-12 19:10:11 UTC
SAN FRANCISCO (AP) — Apple is holding an event in San Francisco during which it announced a new iPhone, capable of faster data speeds and sporting a taller screen. It also unveiled new iTunes software and new iPod devices.
The iPhone 5 will go ...
Spain PM's bailout comments spur market wariness
2012-09-11 17:54:42 UTC
MADRID (AP) — Investors reacted warily Tuesday to comments by Spain's prime minister that he won't accept certain conditions in return for a European Central Bank proposal to buy Spanish government bonds.
In his first televised interview since ...
Philips to cut 2,200 more jobs by 2014
2012-09-11 08:32:47 UTC
AMSTERDAM (AP) — Royal Philips Electronics NV, the largest maker of lights, said Tuesday it plans to cut another 2,200 jobs by 2014 to save €300 million ($383 million) a year.
The company had already planned 4,500 cuts for 2011-2014. The compan...
Silicon Valley isn't sharing Facebook's misery
2012-09-10 19:20:15 UTC
MENLO PARK, Calif. (AP) — Silicon Valley, it turns out, doesn't revolve around the stock prices of Facebook and its playful sidekick, Zynga.
By most indications, tech companies in this hub of innovation are humming along, even as two of its ris...
Asia stocks nearly flat ahead of Fed meeting
2012-09-10 06:42:22 UTC
BANGKOK (AP) — Asian stock markets ran into resistance Monday, ahead of a meeting by Federal Reserve policy makers who are expected to announce new plans to stimulate a sluggish U.S. economy in response to a disappointing jobs report.
The U.S. ...
China factory output weakest in 3 years in August
2012-09-09 17:38:45 UTC
BEIJING (AP) — Growth in China's factory production slowed to a three-year low in August, suggesting Beijing might need to launch more stimulus efforts to reverse a painful slowdown in the world's second-largest economy.
Inflation climbed to 2 ...
Pacific Rim leaders vow freer trade to buoy growth
2012-09-08 12:33:51 UTC
VLADIVOSTOK, Russia (AP) — China will ensure steady and robust growth by boosting domestic demand and rebalancing its economy to help counter the obstacles hindering a global recovery, President Hu Jintao pledged Saturday to Asia-Pacific leaders g...
Unemployment rate dips
2012-09-07 21:33:05 UTC
WASHINGTON (AP) — U.S. employers added 96,000 jobs in August, a tepid figure that points to the economy's persistent weakness and slowing prospects for the unemployed.
The unemployment rate fell to 8.1 percent from 8.3 percent in July. But that...
US jobs outlook improves as campaign heats up
2012-09-06 22:07:50 UTC
WASHINGTON (AP) — The jobs outlook in the U.S. brightened a bit Thursday just before President Barack Obama was to make his case for re-election to the American people.
Fewer people applied for unemployment benefits last week, the government re...
ECB unveils bond-buying program to fight crisis
2012-09-06 17:42:25 UTC
FRANKFURT, Germany (AP) — The European Central Bank unveiled its most ambitious plan yet to halt Europe's financial crisis on Thursday with a pledge to buy unlimited amounts of the government bonds of countries struggling to manage their debts.
US productivity grew at 2.2 pct. rate in spring
2012-09-05 17:50:32 UTC
WASHINGTON (AP) — U.S. companies got more output from their workers this spring than initially thought. Productivity rose at a modest 2.2 percent annual rate in the April-June quarter, largely because employers cut back sharply on hiring.