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, announced late Friday, stores from Rite Aid to K...
WellPoint buying Amerigroup for about $4.46B
2012-07-09 11:59:47 UTC
INDIANAPOLIS (AP) — Health insurer WellPoint Inc. is buying managed care provider Amerigroup Corp. for about $4.46 billion in cash, saying the deal will help it better serve Medicaid participants.
Amerigroup manages publicly-funded health programs like Medicaid, the state-federal program that ...
Global stocks muted ahead of central bank meetings
2012-07-04 08:51:27 UTC
SINGAPORE (AP) — Global stocks were muted Wednesday in holiday-thinned trade as markets looked to European central bankers for new steps to buoy sluggish economic growth.
Global equities and commodities have rallied so far this week amid growing expectations that policymakers will use fiscal a...
Stocks rally as Europe unveils debt crisis plans
2012-06-29 16:36:19 UTC
The Dow Jones industrial average jumped more than 200 points, joining a surge in global markets, after European leaders agreed to easier bank bailouts and regional oversight for their troubled financial sector.
Leaders in Brussels unveiled a plan to funnel money to banks directly from a region...
Asian stocks up slightly on improving US home data
2012-06-27 07:26:45 UTC
BANGKOK (AP) — Asian stock markets edged up Wednesday as rising home prices in the U.S. eased jitters over the robustness of the world's No. 1 economy.
A report showing that U.S. home prices rose 1.3 percent in April, indicating an uptick a sector closely tied to the health of the overall econ...
Survey: Asia's millionaires outnumber NAmerica's
2012-06-20 06:42:23 UTC
HONG KONG (AP) — Asia's millionaires outnumbered North America's for the first time last year even as the world's wealthy saw their fortunes decline amid turbulent financial markets, a new survey says.
The Asia-Pacific region was home to 3.37 million high net-worth individuals, who are defined...
China defends curbs on rare earths
2012-06-20 06:07:17 UTC
BEIJING (AP) — China on Wednesday defended its curbs on rare earths mining and exports amid a World Trade Organization challenge brought by the United States, Europe and Japan.
The government said its controls are meant to protect the environment and preserve dwindling resources and are in lin...
JPMorgan CEO says execs may have pay taken back
2012-06-13 17:33:24 UTC
WASHINGTON (AP) — JPMorgan Chase CEO Jamie Dimon told Congress on Wednesday that senior bank executives responsible for a $2 billion trading loss will probably have some of their pay taken back by the company.
"It's likely that there will be clawbacks," Dimon told the Senate Banking Committee....
Freedom Communications sold to 2100 Trust
2012-06-11 19:26:17 UTC
LOS ANGELES (AP) — Freedom Communications Inc., the owner of The Orange County Register and six other daily newspapers, is being sold to an investment group that had earlier tried to purchase The Boston Globe.
The sale to 2100 Trust LLC represents the last of six pieces of Freedom that have be...
Dow leaps 286 points, its biggest day of the year
2012-06-06 23:38:07 UTC
NEW YORK (AP) — Speculation that governments in the U.S. and Europe will act to help their economies sent stocks surging to their best day this year.
Atlanta Federal Reserve President Dennis Lockhart said in a speech that weak job growth over the past two months highlighted the "halting and te...
Spain offers dour prediction, but US stocks rise
2012-06-05 18:35:57 UTC
NEW YORK (AP) — As U.S. stocks struggled for direction, world finance leaders struggled for a way out of Europe's mounting debt crisis.
Major market indexes ricocheted between slight gains and losses in morning trading, then settled into modest gains by mid-afternoon. European markets were mix...
Worries about slowing global economy pressures oil
2012-06-04 16:37:28 UTC
The price of oil moved very little Monday, coming off a week where questions about a global economic slowdown sparked an 8 percent decline.
New signs of weakness in the U.S. economy emerged following Friday's disappointing jobs report. Meanwhile, China's economic growth is slowing and Europe i...
Obama to Congress: Act now on bills to aid economy
2012-06-03 06:49:59 UTC
WASHINGTON (AP) — President Barack Obama wants Congress to act on bills he says will accelerate the economy. He says the country has responsibilities that are "bigger than an election."
In his weekly radio and Internet address, Obama says Congress could pass legislation to help states prevent ...
Chinese developer unveils replica Austrian village
2012-06-03 06:40:28 UTC
HUIZHOU, China (AP) — A group of Austrians whose scenic mountain village has been copied down to the statues by a Chinese developer attended Saturday's opening in China for the high-end residential project but were still miffed about how the company did it.
Minmetals Land Inc.'s replica of Hal...
Clinton urges cooperation in resource-rich Arctic
2012-06-03 06:34:16 UTC
TROMSO, Norway (AP) — U.S. Secretary of State Hillary Rodham Clinton on Saturday ventured north of the Arctic Circle and urged international cooperation in a region that could become a new battleground for natural resources.
On her trip to the northern Norwegian city of Tromso, she conveyed th...
Sell in May and go away: Stocks close dismal month
2012-05-31 21:13:53 UTC
NEW YORK (AP) — They sold in May and went away, all right.
With a disappointing finish on Thursday, the stock market closed what was by some measures its worst month in two years. Over five dismal weeks, Facebook fizzled, a debt crisis in Europe loomed, and nobody was in the mood to buy.
Bank of America, Barclays sell Archstone stake
2012-05-25 21:49:08 UTC
NEW YORK (AP) — Bank of America Corp. and Barclays Bank PLC are selling their stake in the apartment building owner Archstone to Lehman Brothers Holdings Inc.'s bankruptcy estate for $1.58 billion.
The transaction disclosed Friday for the banks' 26.5 percent interest will give Lehman's estate ...
Apple CEO Cook gives up $75M in stock dividends
2012-05-25 21:35:13 UTC
NEW YORK (AP) — Apple CEO Tim Cook is giving up $75 million in dividends on restricted stock that the company is awarding to all of its employees.
In a filing with the Securities and Exchange Commission on Thursday, Apple Inc. said that Cook requested that his restricted stock units not receiv...
Typical CEO made $9.6M last year, AP study finds
2012-05-25 21:27:11 UTC
NEW YORK (AP) — Profits at big U.S. companies broke records last year, and so did pay for CEOs.
The head of a typical public company made $9.6 million in 2011, according to an analysis by The Associated Press using data from Equilar, an executive pay research firm.
That was up more than 6 p...
SAP to buy Ariba for $4.5B, extending cloud push
2012-05-23 04:56:06 UTC
NEW YORK (AP) — Business software maker SAP AG on Tuesday said it will buy Ariba Inc., which makes Web-based software that connects suppliers and buyers online, for about $4.51 billion.
The deal continues Germany-based SAP's rivalry with database maker Oracle Corp. Both companies are buying up...
Stock market breaks losing streak; Facebook falls
2012-05-21 19:41:01 UTC
NEW YORK (AP) — After three weeks of dumping stocks, investors finally found something to be hopeful about.
Major U.S. indexes climbed Monday after falling every day last week. Investors latched on to weekend statements from China's Premier Wen Jiabao, who promised to boost the country's consu...
Stocks fall on Europe worries; Facebook debuts
2012-05-19 17:46:14 UTC
It's going to take more than Facebook's initial public offering to push the stock market higher.
Facebook shares rose 23 cents above their $38 offering price. It seemed like everything else fell.
The Dow Jones industrial average has been in a slump over the past two weeks as traders saw an ...
Wal-Mart's 1Q profit up 10.1 percent
2012-05-17 22:13:33 UTC
NEW YORK (AP) — Wal-Mart may have gotten its groove back, but an alleged bribery scheme threatens to curtail its progress.
As Wal-Mart reported first-quarter profit on Thursday that beat Wall Street estimates, the world's largest retailer also disclosed that it is expanding an internal probe i...
Facebook raises IPO price as offering nears
2012-05-15 19:59:49 UTC
NEW YORK (AP) — Already expected to be the largest-ever initial public offering for an Internet company, Facebook is making its IPO even bigger.
The world's largest online social network on Tuesday increased the planned price range for its stock to $34 to $38 per share in a filing with the Sec...
Stock market inches higher despite bank slump
2012-05-11 17:31:50 UTC
JPMorgan's surprise $2 billion trading loss prompted a sell-off in financial stocks Friday, but the broader market edged higher as investors decided this was a problem for investment banks and not other industries.
The Dow Jones industrial average rose 11 points in midday trading after bouncin...