Electricity explains why some have gas, some don't
2012-11-04 17:14:07 UTC
NEW YORK (AP) — It's a question that's rankled and bewildered many in the Northeast: Why do some areas struck by Superstorm Sandy have plenty of gasoline and others still don't?
It turns out we need electricity to drive. Even if we're driving c...
Northeast travel slowly resumes
2012-10-31 18:37:18 UTC
Travelers stranded by Hurricane Sandy are seeing service slowly restored across the Northeast. But it'll be days before things are close to normal.
The busy Northeast travel corridor ground to a halt when the huge storm slammed into New Jersey ...
Airports and stock exchange reopen; NJ devastated
2012-10-31 17:44:41 UTC
NEW YORK (AP) — Two major airports reopened and the floor of the New York Stock Exchange came back to life Wednesday, while across the river in New Jersey, National Guardsmen rushed to rescue flood victims and fires still raged two days after Supe...
US home prices rise in August at faster pace
2012-10-30 14:12:39 UTC
WASHINGTON (AP) — Home prices rose in August in nearly all U.S. cities, and many of the markets hit hardest during the crisis are starting to show sustained gains. The increases are the latest evidence of a steady housing recovery.
Wall Street still dark, exchanges test systems
2012-10-30 13:53:55 UTC
NEW YORK (AP) — With large portions of lower Manhattan still dark early Tuesday, U.S. stock exchanges said they were testing contingency plans to ensure trading resumes as soon as possible this week after Hurricane Sandy smashed into the East Coas...
Weak business spending drags on US growth
2012-10-25 20:56:47 UTC
WASHINGTON (AP) — Companies are holding off on purchases of computers, industrial equipment and other long-lasting manufactured goods, a trend that's slowing the U.S. economy.
A fourth straight month of lackluster corporate spending led many ec...
Ex-Goldman executive awaits sentence from NY court
2012-10-24 06:36:06 UTC
NEW YORK (AP) — A former Goldman Sachs and Procter & Gamble Co. board member convicted of insider trading is about to learn whether prison or community service is his fate.
Rajat Gupta faces sentencing Wednesday for his role in an insider tradi...
Oil price rises on Chinese manufacturing survey
2012-10-24 05:57:53 UTC
BANGKOK (AP) — The price of oil rose Wednesday after a survey of Chinese manufacturing suggested that a slowdown in the world's second-largest economy might be stabilizing.
Benchmark oil for December delivery was up 79 cents to $87.46 per barre...
US may soon become world's top oil producer
2012-10-24 03:27:47 UTC
NEW YORK (AP) — U.S. oil output is surging so fast that the United States could soon overtake Saudi Arabia as the world's biggest producer.
Driven by high prices and new drilling methods, U.S. production of crude and other liquid hydrocarbons i...
Retirement worries grow; 30-somethings most uneasy
2012-10-23 07:52:57 UTC
WASHINGTON (AP) — Younger Americans in their late 30s are now the group most likely to doubt they will be financially secure after retirement, a major shift from three years ago when baby boomers nearing retirement age expressed the greatest worry...
Oil falls below $90; pump prices continue to drop
2012-10-22 16:23:56 UTC
The price of oil is falling Monday, tracking the small declines in U.S. stocks.
Benchmark oil fell 60 cents to $89.45 a barrel in midday trading in New York. The contract fell $2.05 to end at $90.05 per barrel on Friday.
Why Greg Smith left Goldman Sachs
2012-10-22 15:31:53 UTC
Greg Smith wrote the essay that echoed across Wall Street like a thunderclap.
Smith was a vice president at Goldman Sachs until March. He announced his departure from the investment bank with a blistering Op-Ed in The New York Times, ac...
APNewsBreak: Questions for Medicare in outbreak
2012-10-19 21:02:04 UTC
WASHINGTON (AP) — Medicare is coming under scrutiny in the meningitis outbreak that has rekindled doubts about the safety of the nation's drug supply.
The giant health insurance program for seniors long ago flagged compounded drugs produc...
Jobless rate falls in most battleground states
2012-10-19 20:39:47 UTC
CLEVELAND (AP) — Unemployment rates fell last month in nearly all of the battleground states that will determine the presidential winner, giving President Barack Obama fresh fodder to argue that voters should stick with him in an election focused ...
Gasoline prices _ finally _ begin to slide
2012-10-18 20:21:17 UTC
NEW YORK (AP) — Gasoline prices have finally begun their seasonal slide.
Better late than never.
The national average retail price has fallen for ten straight days and is now $3.74 per gallon. That's 13 cents below the fall peak of $3.87...
Surge in US home construction could lift economy
2012-10-18 08:17:11 UTC
U.S. home construction is making a comeback that could invigorate the economy's still-weak recovery.
Builders last month started construction on single-family houses and apartments at the fastest rate in more than four years, the Commerce Depar...
Tame US prices, more confident builders aid growth
2012-10-17 00:59:24 UTC
WASHINGTON (AP) — The outlook for the U.S. economy brightened a little Tuesday after reports that consumer prices stayed tame and homebuilder confidence rose to the highest level in six years.
A third report showed factory output grew only mode...
In a surprise, Pandit steps down as Citigroup CEO
2012-10-17 00:56:10 UTC
Vikram Pandit, who steered Citigroup through the 2008 financial crisis and the choppy years that followed, abruptly left the bank on Tuesday, stepping down as CEO and as a director.
The move shocked Wall Street, and Citigroup offered no explana...
Expect small '13 Social Security benefit increase
2012-10-15 10:37:36 UTC
WASHINGTON (AP) — Social Security recipients shouldn't expect a big increase in monthly benefits come January.
Preliminary figures show the annual benefit boost will be between 1 percent and 2 percent, which would be among the lowest since auto...
Dems in coal states diverge on Obama policies
2012-10-13 04:25:18 UTC
ST. CLAIRSVILLE, Ohio (AP) — Friends of coal are certain they know the enemy.
They fault President Barack Obama and his Environmental Protection Agency for new clean air rules they deride as a devastating blow to a multibillion-dollar industry ...
FDA regulation of pharmacies has knotty history
2012-10-13 04:24:59 UTC
WASHINGTON (AP) — The deadly meningitis outbreak linked to contaminated pain injections has prompted calls for tighter federal regulation of compounding pharmacies, which have periodically been blamed for crippling and sometimes fatal injuries. Bu...
Calif. gas prices equal all-time high
2012-10-06 10:40:06 UTC
LOS ANGELES (AP) — The price of gasoline has equaled the all-time high in California of $4.61 a gallon.
AAA's Daily Fuel Gauge report released early Saturday says the average price for a gallon of regular unleaded across California rose 12 cent...
Officials reject conspiracies on unemployment rate
2012-10-06 10:33:53 UTC
WASHINGTON (AP) — When conspiracists suggested Friday that the Obama administration had engineered a sharp drop in unemployment to aid President Barack Obama's re-election, the response was swift.
Career government officials, economists and e...
US unemployment below 8 pct, first time since 2009
2012-10-06 10:27:27 UTC
WASHINGTON (AP) — The U.S. unemployment rate dropped below 8 percent for the first time since the month President Barack Obama took office, a surprising lift for both the economy and his re-election hopes in the final weeks of the campaign.
Analysts: Spike in Calif. gas prices may linger
2012-10-05 08:38:34 UTC
SAN FRANCISCO (AP) — The recent spike in gasoline prices around the nation is expected to wane slowly in coming weeks, but California may not be so lucky due to supply challenges fueled by refinery issues and pipeline outages, analysts said.