US factory orders fell in March by most in 3 years
2012-05-02 19:54:58 UTC
WASHINGTON (AP) — Demand for U.S. factory goods dropped in March by the most in three years, driven lower by a sharp fall in volatile orders for commercial aircraft. Still, more recent data suggest the decline may be temporary.
The Commerce Dep...
Oil price falls on concerns about global economy
2012-05-02 19:48:54 UTC
NEW YORK (AP) — Oil prices fell Wednesday on concerns of a weakening European economy and disappointing job growth in the U.S.
Benchmark West Texas Intermediate crude gave up 86 cents to $105.30 per barrel in New York. Brent crude, which helps ...
Detroit unions weigh strike option as layoffs loom
2012-05-02 18:16:55 UTC
DETROIT (AP) — Unions angry that Detroit is trying to mend its financially-battered books by laying off hundreds of workers and imposing steep contract concessions on those who remain are considering an illegal strike.
Several Detroit municipal...
Eurozone unemployment hits record high
2012-05-02 19:24:02 UTC
LONDON (AP) — Pressure is growing on Europe's leaders to focus less on austerity and more on stimulating growth as the 17 countries that use the euro face record high unemployment and a recession that is spreading across the region.
Oil near $102 on Egypt protests, US demand outlook
2013-07-03 07:09:49 UTC
BANGKOK (AP) — The price of oil neared $102 a barrel Wednesday for the first time since May last year as Egypt's political crisis intensified, raising the risk of fuel supply disruptions.
Benchmark crude for August delivery was up $2.07 to $101...
UK lawmakers: Rupert Murdoch unfit to lead company
2012-05-01 15:57:24 UTC
LONDON (AP) — News Corp. chief Rupert Murdoch must take responsibility for serious failings that caused Britain's tabloid phone hacking scandal, lawmakers said Tuesday in a scathing report — as a narrow majority also insisted the tycoon was unfit ...
Natural gas prices up 5 pct. on production report
2012-04-30 20:56:35 UTC
NEW YORK (AP) — The price of natural gas jumped by nearly 5 percent Monday after government data showed that producers are making good on promises to cut supplies.
Chesapeake Energy Corp., ConocoPhillips and Encana Corp. have each said that the...
NYSE Euronext results falter on failed merger
2012-04-30 20:53:02 UTC
NEW YORK (AP) — The exchange operator NYSE Euronext said Monday that its first-quarter earnings tumbled 44 percent on weaker trading and its failed combination with Deutsche Boerse AG.
Its shares fell nearly 6 percent in afternoon trading.
AB InBev profit jumps 75 pct thanks to lower costs
2012-04-30 20:41:46 UTC
BRUSSELS (AP) — The world's biggest brewer Anheuser-Busch InBev NV said Monday its first-quarter net profit jumped 75 percent thanks to lower financing costs and taxes as well as bigger beer sales.
Net profit rose to $1.69 billion between Janua...
Delta Air buys Pa. refinery from Conoco
2012-04-30 20:37:31 UTC
Delta Air Lines Inc. says it will buy a refinery near Philadelphia as part of an unprecedented deal that it hopes will cut its jet fuel bill.
Delta is buying the Trainer, Pa. refinery from Phillips 66, a refining company being spun off from Con...
Dow, S&P 500 slip as Spain enters recession
2012-04-30 20:34:44 UTC
NEW YORK (AP) — Renewed worries about the fragility of Europe's finances are helping to drive stocks lower.
The Spanish government said Monday that its economy shrank in the first three months of 2011, putting one of the largest economies in Eu...
Energy Transfer Partners to buy Sunoco for $5.3B
2012-04-30 20:29:35 UTC
NEW YORK (AP) — Energy Transfer Partners is buying Sunoco in a $5.3 billion deal that creates one of the more diverse pipeline companies in the country.
The acquisition includes nearly 8,000 miles of pipeline, as well as 4,900 gas stations in 2...
Barnes & Noble and the e-reader competition
2012-04-30 20:15:07 UTC
Barnes & Noble Inc. makes a variety of Nooks with black-and-white screens, dedicated to reading, and the Nook Color and Nook Tablet, which add color screens, third-party applications and Internet browsing to the mix.
Here's how its sales stacke...
US consumer spending slowed in March, income rose
2012-04-30 20:11:08 UTC
WASHINGTON (AP) — Americans increased their spending more slowly in March, suggesting some are worried that their paychecks aren't growing fast enough.
The Commerce Department said Monday that consumer spending increased just 0.3 percent last m...
Tech exec gets 22 years prison for $30M fraud
2012-04-30 19:02:22 UTC
SAN FRANCISCO (AP) — A former high-tech executive convicted of defrauding investors of at least $30 million on Monday was given one of the harshest sentences meted out in a white-collar criminal case.
A federal judge in San Francisco sentenced ...
Asia stocks rise on hopes of new Fed stimulus move
2012-04-30 05:13:57 UTC
BANGKOK (AP) — Asian stock markets rose Monday in holiday-thinned trade as sluggish U.S. growth figures boosted hopes for more measures from the Federal Reserve to help the world's No. 1 economy.
South Korea's Kospi added 0.2 percent to 1,980.2...
UK's Cameron: No pact with Murdoch over takeover
2012-04-29 18:43:37 UTC
LONDON (AP) — Prime Minister David Cameron acknowledged Sunday that he wooed Rupert Murdoch as he attempted to win power in Britain, but insisted he never struck a tit-for-tat deal to support the media mogul's business dealings in return for favor...
Dubai spends $250M to get full control of Atlantis
2012-04-28 23:45:57 UTC
DUBAI, United Arab Emirates (AP) — Dubai says it now has full control of the Atlantis resort hotel perched atop its palm-shaped island.
State-run investment firm Istithmar World said late Friday it paid $250 million to buy out financially troub...
Samsung Electronics reports record profit
2012-04-28 04:45:12 UTC
SEOUL, South Korea (AP) — Samsung Electronics Co., the world's largest consumer electronics firm by revenues, on Friday reported a record-high profit as strong smartphone sales helped mask a drop in semiconductor and TV profit.
Net profit amoun...
US raises hope of sale of new fighters to Taiwan
2012-04-28 04:33:50 UTC
TAIPEI, Taiwan (AP) — The administration of President Barack Obama is raising the possibility that it could sell new jet fighter aircraft to Taiwan to help redress the island's air power deficit with China.
If the move goes through, it would in...
Italy pays higher yields in pair of bond auctions
2012-04-27 20:22:01 UTC
MILAN (AP) — Italy was forced to pay higher interest rates Friday to entice investors to buy a little under €5 billion ($6.6 billion) worth of its 5- and 10-year bonds as jitters over Europe's debt problems have resurfaced.
Investors demanded y...
Why 'Sell in May' doesn't work for investors
2012-04-27 20:07:28 UTC
NEW YORK (AP) — It's simple to understand, and has a nice ring to it. It's made some investors look like geniuses recently. Say it enough and you might even believe it.
Too bad "Sell in May and go away" doesn't work.
The idea behind the popu...
Stocks edge higher on Wall Street; Amazon surges
2012-04-27 20:03:44 UTC
NEW YORK (AP) — Stocks are trading slightly higher late Friday as investors weigh corporate profit gains against disappointing economic news.
The Dow Jones industrial average rose 36 points to 13,241 at 3:45 p.m. The Standard & Poor's 500 edged...
A weaker first quarter doesn't mean a weak year
2012-04-27 19:39:44 UTC
WASHINGTON (AP) — The U.S. economy grew more slowly in the first three months of this year. Governments spent less, and businesses cut back on investment. But consumers spent at the fastest pace in more than a year.
The result suggests that the...
Spain crisis deepens with jobless rise, downgrade
2012-04-27 16:13:33 UTC
MADRID (AP) — The hole in Spain's economy is getting deeper.
The government reported Friday that unemployment rose to 24.4 percent in the first quarter — compared with 22.9 percent in the fourth quarter — and that more than half of Spaniards un...