Headline

  • US economy appears weaker as retail sales slump
    1351f613ed268513150f6a706700611f 2012-07-16 21:16:07 UTC
    WASHINGTON (AP) — The outlook for the U.S. economy appeared dimmer Monday after a report that Americans spent less at retail businesses for a third straight month in June. The report led some economists to downgrade their estimates for economic...
  • Microsoft, NBC dissolve MSNBC.com joint venture
    232944ffead47a13150f6a706700a087 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
    Asian-stocks-japan-may-8-2012 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...
  • How Penn State can repair its image
    Diaalnews 2012-07-14 18:21:59 UTC
    NEW YORK (AP) — A scathing report accusing Penn State coach Joe Paterno and other top university officials of hiding what they knew about Jerry Sandusky's sexual abuse of children is another crippling blow to a school and football program already ...
  • NY Fed told of interest rate manipulation in '07
    Diaalnews 2012-07-14 13:02:19 UTC
    WASHINGTON (AP) — The Federal Reserve Bank of New York released documents Friday that show it learned five years ago of big banks understating their borrowing costs to manipulate a key interest rate. The documents also show Treasury Secretary T...
  • JPMorgan traders may have sought to conceal losses
    8283b46f87102913150f6a706700ac21 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...
  • Fewer auto closings reduce US unemployment claims
    5332ccc886312513150f6a706700ebf2 2012-07-12 22:29:50 UTC
    WASHINGTON (AP) — The number of people seeking U.S. unemployment benefits plunged last week. But a big reason is that automakers have skipped some of their usual summer shutdowns to keep up with demand, causing fewer temporary auto layoffs. Eco...
  • Democrats block Senate vote on Obama tax plan
    0 2012-07-11 19:55:20 UTC
    WASHINGTON (AP) — Democrats blocked a Senate vote Wednesday on President Barack Obama's plan to extend expiring tax cuts for a year for everyone but the highest-earning Americans as the two parties maneuvered to try embarrassing each other on one ...
  • Asian stocks fall as outlook for earnings dims
    Untitled 2012-07-11 06:11:03 UTC
    SINGAPORE (AP) — Asian stock markets fell Wednesday as the global economic slowdown threatens to reduce corporate profits. Companies start reporting second-quarter results this week and investors were dismayed when chip maker Advanced Micro Dev...
  • Euro finance ministers agree on bailout for Spain
    Diaalnews.com 2012-07-10 06:49:08 UTC
    BRUSSELS (AP) — Euro area finance ministers agreed early Tuesday on the terms of a bailout for Spain's troubled banks, saying that €30 billion ($36.88 billion) can be ready by the end of this month. The finance ministers for the 17 countries th...
  • Diplomats: Regling will head ESM bailout fund
    Diaalnews.com 2012-07-10 00:05:35 UTC
    BRUSSELS (AP) — Diplomats say that Klaus Regling, a German economist who currently heads the temporary EU bailout fund, has been chosen to head the European Stability Mechanism — the permanent bailout fund meant to head off instability in the euro...
  • China inflation falls, giving leeway for stimulus
    Diaalnews.com 2012-07-09 11:16:11 UTC
    BEIJING (AP) — China's inflation fell to a 29-month low in June, giving Beijing more room to fight a deepening economic slowdown. Consumer prices rose 2.2 percent over a year earlier, down from May's 3 percent, government data showed Monday. Fo...
  • Obama challenges Romney on China trade
    C365ca7fec6e9812140f6a7067003b61 2012-07-07 10:39:09 UTC
    WASHINGTON (AP) — President Barack Obama challenged rival Mitt Romney's promise to get tough on China, saying in a new ad released Saturday that Romney "made a fortune" allowing China to take U.S. jobs. Obama's ad turns again to a report that s...
  • US stocks drop after weak June jobs report
    Diaalnews 2012-07-06 15:37:47 UTC
    NEW YORK (AP) — Stocks retreated on Wall Street Friday after the U.S. government reported that only 80,000 jobs were created in June, the third straight month of weak hiring. The Dow Jones industrial average dropped 157 points to 12,739 a half-...
  • Consumers asked to pay more for milk to save farms
    A75af973d09e7712140f6a7067001b89 2012-07-05 08:24:36 UTC
    MONTPELIER, Vt. (AP) — Consumers will pay a little more for coffee and chocolate to ensure the farmers who produce those foods get a fair wage, so why not ask them to pay more for milk? That is the notion behind a program designed to raise mone...
  • AP survey: Next president faces high unemployment
    B6760053b90b6912140f6a706700a57d 2012-07-04 17:35:13 UTC
    WASHINGTON (AP) — A majority of economists in the latest Associated Press Economy Survey expect the national unemployment rate to stay above 6 percent — the upper bounds of what's considered healthy — for at least four more years. If the econom...
  • Global stocks muted ahead of central bank meetings
    Data 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 growin...
  • Big US banks submit "living wills" to regulators
    Bank-sign-cracked 2012-07-03 18:25:49 UTC
    Nine of the largest U.S. banks have submitted plans to the federal regulators that show how they would break up and sell off their assets if they are in danger of failing. The Federal Deposit Insurance Corp. released summaries of the "living wi...
  • Airbus to build 1st US assembly plant in Alabama
    310009c4857f3812140f6a7067008d82 2012-07-02 22:46:09 UTC
    MOBILE, Ala. (AP) — European aerospace giant Airbus will start building planes in Mobile, Ala., planting its first factory on U.S. soil and aiming to compete better against archrival Boeing. Airbus, based in France, said it plans to employ 1,00...
  • Asian stocks inch higher on Europe optimism
    88b40b8982f42d12140f6a7067008d33 2012-07-02 06:05:02 UTC
    SINGAPORE (AP) — Asian stock markets inched higher Monday amid continued optimism over Europe's moves to ease its debt crisis and economic malaise. Japan's Nikkei 225 index rose 0.4 percent to 9,037.95 and South Korea's Kospi gained 0.2 percent...
  • Stocks rally as Europe unveils debt crisis plans
    Diaalnews 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 pl...
  • Merkel: no quick solution to crisis
    C49187f702f3b812130f6a7067007b9b 2012-06-27 15:57:11 UTC
    BERLIN (AP) — German Chancellor Angela Merkel on Wednesday brushed aside the latest push to pool European debt, arguing that it would be "economically wrong and counterproductive" to make such a move before governments can be made to comply with b...
  • Stocks rise on stronger US housing, factory data
    8d010ae9037bbb12130f6a706700e772 2012-06-27 15:51:39 UTC
    U.S. stocks are trading solidly higher at midday after a two pieces of good news about the U.S. economy. The National Association of Realtors said Wednesday that Americans signed more contracts to buy previously occupied homes in May. It was th...
  • Asian stocks up slightly on improving US home data
    27th_asian_share_1126250f 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 sec...
  • European plan tries to convince Germany to do more
    610x350 2012-06-26 18:07:30 UTC
    BRUSSELS (AP) — Top European officials have called on countries that use the euro to surrender more control over their national budgets, a move apparently aimed at easing Germany's fears of sharing debt burdens with struggling governments like Spa...