Toyota sold 4.97 million vehicles in first half
2012-07-25 08:16:44 UTC
TOKYO (AP) — Toyota sold 4.97 million vehicles globally in the first six months of this year, a strong result that could see the Japanese automaker regain its crown as the world's top automaker from General Motors Co.
The number, released Wedne...
Peugeot Citroen in H1 loss as Europe hits business
2012-07-25 08:08:56 UTC
PARIS (AP) — Tough conditions in Europe pushed carmaker PSA Peugeot Citroen into a first half loss of €819 million ($990 million), just as the company faces off with the French government over its restructuring plan.
The maker of two-thirds of ...
How Apple's phantom taxes hide billions in profit
2012-07-24 06:46:16 UTC
NEW YORK (AP) — On Tuesday, Apple is set to report financial results for the second quarter. Analysts are expecting net income of $9.8 billion. But whatever figure Apple reports won't reflect its true profit, because the company hides some of it w...
McDonald's showing signs of tear from economy
2012-07-23 17:24:24 UTC
NEW YORK (AP) — Not even McDonald's Corp. has an iron stomach when it comes to the global economic downturn.
The world's largest hamburger chain has thrived in boom and bust times by selling cheap eats and constantly updating its menu with popu...
Europe fear surges; Dow falls nearly 150
2012-07-23 17:08:44 UTC
NEW YORK (AP) — Fear that Spain may need a government bailout sent its borrowing costs soaring, the euro to a two-year low against the dollar and stocks around the world sharply lower as investors pulled back Monday from all manner of risk.
Oil falls to near $89 amid Europe, China jitters
2012-07-23 11:01:41 UTC
LONDON (AP) — The price of oil sank toward $89 a barrel Monday as a flare-up in Europe's debt crisis and concern over Chinese economic growth suggested demand for crude will weaken.
The benchmark crude futures contract for September delivery wa...
Spain under more acute market pressure
2012-07-23 10:30:09 UTC
MADRID (AP) — The financial pressure on recession-hit Spain ratcheted up further Monday to levels that saw other European countries need a financial bailout.
The yield on Spain's benchmark ten-year bond spiked 0.23 percentage points to 7.46 per...
UK hacking scandal spreads, 100-plus new claims
2012-07-23 11:24:34 UTC
LONDON (AP) — The police investigation spawned by last year's phone hacking scandal has spread to new U.K. tabloids, with detectives now seeking information from the Trinity Mirror PLC newspaper group as well as Britain's Express Newspapers, a sen...
Eurozone crisis saves Germany tens of billions
2012-07-22 08:55:21 UTC
BERLIN (AP) — Germany has emerged as one of the biggest beneficiaries of the European financial crisis.
While other countries in 17-country group that use the euro have battled against investor fears that their economies are buckling under the ...
New lab working on security shoe sole to ID people
2012-07-21 21:01:43 UTC
PITTSBURGH (AP) — High-tech security? Forget those irksome digital eye scans. Meet the biometric shoe.
A new lab is working to perfect special shoe insoles that can help monitor access to high-security areas, like nuclear power plants or specia...
ECB's Draghi: euro not in danger
2012-07-21 20:57:00 UTC
BERLIN (AP) — The head of the European Central Bank said the euro is "absolutely not" in danger as the continent's financial crisis simmers, and insisted in an interview published Saturday that the multi-nation currency is "irrevocable."
DirecTV customers: Sponge Bob is back
2012-07-20 12:14:59 UTC
EL SEGUNDO, Calif. (AP) — DirectTV subscribers who want their MTV, Sponge Bob SquarePants or comedian Jon Stewart are getting their wish.
Viacom Inc. and the satellite TV service provider said Friday that they have settled a dispute that had cu...
GE 2Q earnings drop 16 pct; reaffirms outlook
2012-07-20 12:11:36 UTC
NEW YORK (AP) — General Electric says its net income fell 16 percent in the second quarter because of losses in businesses it has divested and an increase in pension costs.
The conglomerate, with businesses ranging from appliances to financial ...
Morgan Stanley closes a bleak bank earnings season
2012-07-19 21:26:28 UTC
NEW YORK (AP) — It's tough being a big bank these days.
Morgan Stanley, the storied investment house, reported Thursday that its revenue was down sharply for April through June and its profit missed Wall Street expectations. Its stock was clobb...
Middle East turmoil pushing oil higher again
2012-07-19 21:24:33 UTC
NEW YORK (AP) — Rising tensions in the Middle East have pushed oil prices up 19 percent over the past three weeks and are leading to a rise in prices at the gasoline pump.
Since the start of July, average gasoline prices in the U.S. have climbe...
Intel 2Q earnings fall, sees economic headwinds
2012-07-17 22:50:09 UTC
NEW YORK (AP) — Intel Corp., the world's largest chipmaker, said Tuesday that the weak global economy is slowing its growth, and revenue for the current quarter is likely to come in below Wall Street forecasts.
Intel's second-quarter net income...
Stocks rise; Mattel, Coke among earnings winners
2012-07-17 22:26:07 UTC
NEW YORK (AP) — Stronger earnings from Mattel, Coca-Cola and other big companies lifted the Standard & Poor's 500 index on Tuesday for only the fourth day this month.
Mattel jumped 9 percent, more than any other company in the S&P. The country'...
Cheaper gas keeps US consumer prices flat
2012-07-17 22:23:45 UTC
WASHINGTON (AP) — Consumer prices were unchanged in June, held down by cheaper gas. Outside the volatile food and energy categories, inflation was mild.
Weak economic growth is limiting the ability of companies to raise prices. The tame inflati...
Stocks close lower after consumer spending slides
2012-07-16 21:07:55 UTC
NEW YORK (AP) — Stocks closed lower for the seventh day out of the last eight on Monday after the government reported that U.S. consumers cut their spending last month.
The news pushed stocks down from the start of the trading day. Though they ...
Microsoft, NBC dissolve MSNBC.com joint venture
2012-07-16 04:41:19 UTC
SAN FRANCISCO (AP) — Microsoft is pulling out of the joint venture that owned MSNBC.com, freeing the world's largest software maker to build its own online news service.
The breakup announced late Sunday dissolves the final shreds of a 16-year ...
Asia stocks muted after China cautions on economy
2012-07-16 02:57:16 UTC
BANGKOK (AP) — Asian stock markets are mixed after China's premier said weakness in the world's second-biggest economy is not yet over.
The weekend comments from Wen Jiabao came after China on Friday reported that quarterly economic growth slip...
Visa, MasterCard in $6B settlement over card fees
2012-07-14 12:54:30 UTC
NEW YORK (AP) — Visa, MasterCard and major banks agreed to pay retailers at least $6 billion to settle a long-running lawsuit that alleged the card issuers conspired to fix the fees that stores pay to accept credit cards. As part of the settlement...
JPMorgan traders may have sought to conceal losses
2012-07-14 12:57:10 UTC
NEW YORK (AP) — JPMorgan Chase said Friday that its traders may have tried to conceal the losses from a soured bet that has embarrassed the bank and cost it almost $6 billion — far more than its CEO first suggested.
The bank said an internal in...
More US homes facing foreclosure risk in June
2012-07-12 05:39:45 UTC
LOS ANGELES (AP) — Banks are increasingly placing homes with unpaid mortgages on a countdown that could deliver a swell of new foreclosed properties onto the market by early next year, potentially weighing further on home values.
June provided ...
Asian stocks fall amid China's slowing economy
2012-07-12 05:29:20 UTC
SINGAPORE (AP) — Asian stock markets fell Thursday amid speculation that China, the region's economic engine, may announce gross domestic product slowed in the second quarter.
Japan's Nikkei 225 index was down 1 percent to 8,765.38 while Hong K...