Democrats: Political slant marks Romney tax return
2012-09-22 12:06:01 UTC
WASHINGTON (AP) — Democrats say Mitt Romney manipulated his deductions to keep his overall 2011 federal income tax rate below a certain level for political purposes. The Republican presidential nominee is certain to face new questions about his fi...
Macy's NYC flagship getting $400M makeover
2012-09-19 09:51:16 UTC
NEW YORK (AP) — A $400 million makeover is giving New York's iconic Macy's store a sleek, new 21st century style.
And some preservationists aren't happy about it. They see the overhaul of America's biggest department store as scrapping classic ...
World stocks rise after Bank of Japan eases policy
2012-09-19 09:47:17 UTC
BANGKOK (AP) — World stock markets rose Wednesday after the Bank of Japan became the latest major central bank to announce action to shore up fragile economic growth.
The Japanese central bank said it was extending monetary easing by increasing...
AEG, owner of LA's Kings, Staples arena, for sale
2012-09-19 09:43:29 UTC
LOS ANGELES (AP) — Anschutz Entertainment Group, the owner of the Staples Center arena and the NHL's Los Angeles Kings, and the top contender to build a stadium and bring the NFL back to Los Angeles, is up for sale, its parent company said Tuesday...
Farm-state lawmakers returning home empty-handed
2012-09-19 08:40:47 UTC
WASHINGTON (AP) — Farm-state members of Congress have campaigned for decades on the back of farm bills delivering election-season subsidies and other goodies to rural voters.
Not this year. The bill is stalled, primarily because House GOP leade...
China's foreign investment falls for 3rd month
2012-09-19 08:36:12 UTC
BEIJING (AP) — Foreign direct investment in China declined in August for a third straight month as the impact of economic weakness in Europe and the United States worsened, the government said Wednesday.
Foreign investment in factories, real ...
Japan's central bank joins Fed in easing policy
2012-09-19 08:21:54 UTC
TOKYO (AP) — Japan's central bank expanded its monetary easing by 10 trillion yen ($126 billion) Wednesday, moving to nurture the country's feeble economic recovery and cushion its exporters from the yen's rise against other currencies.
Asia stocks down on slow euro bank union progress
2012-09-18 08:42:17 UTC
BANGKOK (AP) — Asian stock markets mostly fell Tuesday as signs that Europe will take longer than expected to set up a new authority to supervise European banks kept investors on the sidelines.
The creation of a European banking union is import...
Apple says more than 5 million iPhone 5s sold
2012-09-24 13:20:41 UTC
CUPERTINO, Calif. (AP) — Apple says it has sold more than 5 million units of the new iPhone 5 in the three days since its launch.
Apple Inc. said Monday that orders for the phone exceeded the initial supply it had available. The iPhone 5 went...
Merkel insists bank supervision must not be rushed
2012-09-17 11:44:58 UTC
BERLIN (AP) — German Chancellor Angela Merkel is digging in her heels on plans for a new European banking supervisor, insisting that they must not be rushed and that she has no intention of considering joint European deposit insurance.
After calm morning, oil takes sudden plunge
2012-09-17 20:40:29 UTC
NEW YORK (AP) — Oil plunged more than $4 per barrel in a short time Monday afternoon, erasing the gains made last week when the Federal Reserve unveiled new steps to boost the U.S. economy.
Benchmark crude fell $2.38, or 2.4 percent, to finish ...
AT&T says it sets iPhone 5 sales record
2012-09-17 11:27:19 UTC
NEW YORK (AP) — AT&T says it set a sales record for the iPhone 5, with customers ordering more of them than any previous iPhone model on the first day of preorders and over the weekend.
The Dallas company said Monday that the iPhone 5 is stil...
Shell: Won't hit oil in Alaska this year
2012-09-17 11:24:50 UTC
AMSTERDAM (AP) — Royal Dutch Shell PLC said Monday it will no longer seek oil off the coast of Alaska this year after suffering several setbacks.
The company, which has so far spent around $4.5 billion to obtain licenses and prepare for explo...
SA chrome miners join strike despite crackdown
2012-09-17 11:20:38 UTC
MARIKANA, South Africa (AP) — The South African Press Association reports mining strikes that have halted work at seven gold and platinum mines have spread to the chrome sector.
The official news agency quotes a strike leader saying some mine...
AP Sources: Obama launches new China trade action
2012-09-17 11:14:11 UTC
WASHINGTON (AP) — President Barack Obama is launching a new trade enforcement case against China as he seeks an advantage over Republican rival Mitt Romney on an economic issue that has become a flashpoint in the presidential campaign.
Russia to sell $5.7 billion stake in Sberbank
2012-09-17 11:10:52 UTC
MOSCOW (AP) — Russia's Central Bank says it will sell part of its majority stake in the state-controlled Sberbank in a move that could raise some $5.7 billion.
The Central Bank said in a statement Monday that it will sell 7.6 percent of its s...
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...
Report: US banks subject of money-laundering probe
2012-09-16 13:24:43 UTC
NEW YORK (AP) — Regulators are investigating whether several major U.S. banks failed to monitor transactions properly, allowing criminals to launder money, according to a New York Times story. The newspaper cited officials who it said spoke on the...
Egyptian bank shareholders OK deal with QInvest
2012-09-16 13:17:47 UTC
DUBAI, United Arab Emirates (AP) — Egyptian bank EFG Hermes says a majority of shareholders have voted in favor of a deal to merge some of the lender's operations with Qatar's QInvest.
Sunday's vote moves closer to completion a deal that aims t...
Stocks head higher on day after Fed move
2012-09-14 18:14:38 UTC
NEW YORK (AP) — A promise from the Federal Reserve of more help for the economy propelled stocks higher for a second day Friday.
Even as they jumped in, some investors said they weren't sure how long the rally would last, but the Dow Jones indu...
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...
Ex-UBS trader goes on trial accused of $2.3B fraud
2012-09-14 16:18:46 UTC
LONDON (AP) — A senior trader at the Swiss bank UBS was a "master fraudster" who lost his bank $2.3 billion — and risked a $12 billion loss that threatened its very existence — through more than two years of risky deals and deceit, prosecutors sai...
ABC News sued for defamation over 'pink slime'
2012-09-14 02:52:36 UTC
NORTH SIOUX CITY, S.D. (AP) — Beef Products Inc. sued ABC News, Inc. for defamation Thursday over its coverage of a meat product that critics dub "pink slime," claiming the network damaged the company by misleading consumers into believing it is u...
US stocks surge after Fed announces more help
2012-09-13 19:07:13 UTC
NEW YORK (AP) — The stock market staged a huge rally Thursday after investors finally got the aggressive economic help they wanted from the Federal Reserve. The Dow Jones industrial average spiked almost 240 points.
The gain pushed the Dow abov...