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...
Natural gas prices rise; oil declines slightly
2012-04-27 15:59:12 UTC
Natural gas is rising as cooler weather and production cuts are raising expectations that demand may improve.
Natural gas rose 2.1 cents to $2.147 per 1,000 cubic feet Friday in early trading. Last week the price dropped to the lowest level in ...
Daimler Q1 net rises 20 percent, Mercedes slips
2012-04-27 06:13:47 UTC
FRANKFURT, Germany (AP) — Automaker Daimler AG says net profit rose 20 percent to €1.42 billion ($1.88 billion) in the first quarter despite a slip in earnings at its key Mercedes luxury car business.
Revenues rose 9 percent to €27.01 billion.
Exxon Mobil 1Q profit drops 11 percent
2012-04-26 20:50:29 UTC
NEW YORK (AP) — Exxon Mobil struggled just about everywhere in the first quarter.
It produced less oil and natural gas. Profits dropped at its chemical plants and U.S. refineries. And its overall net income fell 11 percent, the first decline in...
Chrysler posts best quarterly profit in 13 years
2012-04-26 20:42:48 UTC
DETROIT (AP) — Chrysler had its best quarterly profit in 13 years. Not bad for a company that almost died three years ago.
The company earned $473 million in the first quarter, mainly from strong U.S. sales, which rose 39 percent from January t...
Gasoline prices continue to creep lower
2012-04-26 20:16:08 UTC
NEW YORK (AP) — Retail gasoline prices continued their surprising spring slide Thursday, dropping a penny to $3.83 per gallon.
It's the 10th straight day of declines for the national average retail price. Pump prices are 4 cents lower than they...
Senate Dems ready bill freezing student loan costs
2012-04-25 18:08:08 UTC
WASHINGTON (AP) — President Barack Obama is playing politics with his push to prevent interest rates on federal student loans from increasing in an election-year effort to embarrass Republicans, the Senate's GOP leader said Wednesday.
Oil prices decline on growing supply
2012-04-25 18:03:54 UTC
NEW YORK (AP) — Oil prices dropped slightly on Wednesday after the government reported an increase in U.S. supplies.
Benchmark West Texas Intermediate crude lost 22 cents to $103.33 per barrel in New York. Brent crude, which sets the price of o...
APNewsBreak: Burger King makes cage-free promise
2012-04-25 17:58:14 UTC
The movement by U.S. food corporations toward more humane treatment of animals experienced a whopper of a shift Wednesday when Burger King announced that all of its eggs and pork will come from cage-free chickens and pigs by 2017.
The decision ...
Boeing 1Q earnings, revenue rise on aircraft sales
2012-04-25 17:54:52 UTC
DALLAS (AP) — Airlines around the world are updating their fleets with new, more fuel-efficient planes, and that's good news for aircraft maker Boeing Co.
The Chicago company said Wednesday that first-quarter profit soared 58 percent, beating a...
Sprint loss widens on Nextel, iPhone lifts sales
2012-04-25 17:49:47 UTC
NEW YORK (AP) — The iPhone boosted struggling Sprint Nextel Corp. in the latest quarter, letting it beat AT&T and perhaps even Verizon in recruiting high-paying phone subscribers to the Sprint network.
Sprint started selling the iPhone in Octob...
Delta, US Airways see strong travel demand
2012-04-25 17:46:03 UTC
MINNEAPOLIS (AP) — Rising fares haven't kept passengers away, judging by financial results at Delta Air Lines and US Airways.
Both airlines reported quarterly profits on Wednesday. They each said travel demand appears to be holding up, suggesti...