Business & economy news - KWWL.com

Key House chairman slams Senate immigration bill

A key House committee chairman says a wide-ranging immigration bill just passed by a Senate committee falls far short of what is needed to end the problem of illegal immigration. More>>

Stocks fall on news Fed weighed cutting stimulus

Stocks fell in afternoon trading Wednesday on news that several Federal Reserve policymakers in a meeting earlier this month favored cutting back on stimulus programs as early as June if the economy continued to improve. More>>

Palestinians have little faith in Kerry effort

Palestinians believe the U.S. effort to restart peace talks is doomed, and they're preparing instead to resume their campaign of seeking membership in key international organizations as soon as next month, officials told... More>>

Trial for captain in deadly shipwreck in Italy

An Italian judge has ordered the captain of the Costa Concordia cruise ship to stand trial for manslaughter in the vessel's shipwreck off the coast of Tuscany, which killed 32 people. More>>

Fiat Industrial aims to shift tax home to Britain

Fiat Industrial disputed as "absolutely false" reports Wednesday that Italy would lose 500 million euros ($646 million) in tax revenues if it moves its tax base to Britain after it completes a merger with its U.S.-based... More>>

Oil falls near $94 on small drop in supplies

By The Associated Press The price of oil fell near $94 a barrel Wednesday as the nation's oil supply fell less than expected and demand for gasoline remained weak. More>>

EU steps up fight against tax evasion by end 2013

The European Union's leaders took a major step in tackling tax-dodgers Wednesday by pushing to end bank secrecy across the bloc's 27 members by the end of the year. More>>

Fed weighed slowing its pace of bond purchases

Several Federal Reserve policymakers this month favored slowing the Fed's efforts to maintain record-low long-term interest rates as early as June - if the economy showed strong and sustained growth. But those officials... More>>

Bernanke signals Fed to maintain stimulus efforts

Chairman Ben Bernanke told Congress Wednesday that the U.S. job market remains weak and that it is too soon for the Federal Reserve to slow its extraordinary stimulus programs. More>>

Global, local issues for Iran in upcoming election

By The Associated Press Main domestic and international issues facing Iran ahead of its June 14 presidential election: More>>

Fox show brings messy workplaces to television

This time "you're fired" is more than a Donald Trump catchphrase. Fox is turning the firing of real people from real jobs into prime-time entertainment starting this week. More>>

Target's 1Q profit drops 29 pct on weak sales

Target Corp. reported a 29 percent drop in first-quarter profit as unusually cool spring weather and financial pressures chilled customers' appetite for spending. More>>

Senate rejects bid to let states run food stamps

The Senate on Wednesday rejected a Republican bid to turn the federal food stamp program over to the states. More>>

House takes up GOP bill to speed pipeline approval

The House has taken up a Republican-sponsored bill that would speed approval of the proposed Keystone XL oil pipeline from Canada to Texas. More>>

Fox show brings messy workplaces to television

This time "you're fired" is more than a Donald Trump catchphrase. Fox is turning the firing of real people from real jobs into prime-time entertainment starting this week. More>>

IRS official Lerner: 'I did nothing wrong'

The Internal Revenue Service official at the center of the storm over the agency's targeting of conservative groups told Congress on Wednesday that she had done nothing wrong in the episode, and then invoked her... More>>

Judge: Hollister clothing unfriendly to disabled

A federal judge in Denver is contemplating an injunction against Abercrombie & Fitch Co. and J.M. Hollister LLC after ruling earlier that nearly 250 of their clothing stores that cater to a hip, young clientele are... More>>

Weak yen a help for Japan, but headache elsewhere

A steady fall in the value of the yen is proving a godsend for exporters such as Toyota. The cheaper yen is making their products more affordable overseas. More>>

Fox show brings messy workplaces to television

This time "you're fired" is more than a Donald Trump catchphrase. Fox is turning the firing of real people from real jobs into prime-time entertainment starting this week. More>>

Stocks surge as Bernanke retains dovish tone

Federal Reserve Chairman Ben Bernanke's signal that monetary policy will remain loose gave stocks another lift Wednesday, paving the way for many indexes to advance to new record highs. More>>

North Korean leader sends special envoy to China

After months of ignoring Chinese warnings to give up nuclear weapons, North Korean leader Kim Jong Un sent a high-level confidant to Beijing on Wednesday, in a possible effort to mend strained ties with his country's... More>>

'BOOM TOWN BABY': African stock markets see gains

The barrage of hourly tweets sent out by Aly-Khan Satchu - East Africa's version of CNBC's Mad Money host Jim Cramer - cheers on what Satchu says is a growing sentiment among investors: If you're not investing in... More>>

Feds open special inspection into NC nuke plant

Federal regulators said Wednesday that they are conducting a special inspection of a nuclear power plant outside North Carolina's capital city that was forced to shut down last week after operators discovered corrosion... More>>

Germans, French eye plan to create jobs for young

Germany and France are preparing to launch a drive to combat the problem of high European youth unemployment, which officials in Berlin say will center on trying to get business involved and make better use of... More>>

Kenya's truth report: Killings, land grabs, graft

Kenya's president received a long-awaited Truth Justice and Reconciliation Commission report that names the president and his deputy as being among those suspected of planning and financing Kenya's 2007-08... More>>

Chinese premier visits Pakistan, praises ties

China's premier signed economic agreements and praised Pakistan in glowing terms as he began a two-day visit Wednesday, underscoring the importance of the longstanding alliance to the two Asian powers. More>>

IMF calls on Britain to do more for growth

The International Monetary Fund has called on Britain to do more to support the economic recovery, urging the government Wednesday to speed up investment in infrastructure and come up with a plan to privatize its bailed out... More>>

AAA: 31.2M drivers to take Memorial Day road trip

By SCOTT MAYEROWITZ AP Business Writer It's going to be another busy Memorial Day weekend on the nation's highways. More>>

US auto factories cutting back on summer downtime

The Detroit automakers are largely forgoing the traditional two-week summer break at their factories and speeding up production to meet buyers' growing demand for new cars and trucks. More>>

Iceland forms center-right govt, halts EU talks

The leader of the center-right Progressive Party was chosen as Iceland's new prime minister Wednesday and promptly announced a halt to talks with the European Union about joining the 27-nation bloc. More>>

Lowe's 1Q profit rises, but results miss Street

Lowe's said Wednesday that its first-quarter net income rose nearly 3 percent, but results fell short of expectations as rainy weather hurt spring gardening sales. More>>

US home sales tick up to highest in 3 ½ years

Sales of previously occupied U.S. homes ticked up last month to the highest level in three and a half years, helped by a jump in the number of houses for sale. More>>

African Union celebrates 50th year

African nations this week mark the 50th year since the founding of a continentwide organization that spearheaded efforts to liberate Africa from colonial masters. Now leaders want to map out the next 50 years of political... More>>

Stocks edge higher as investors watch the Fed

Stocks are opening slightly higher as investors watch for the latest moves from the Federal Reserve. More>>

Richard Carrion declares IOC presidential bid

Richard Carrion of Puerto Rico entered the IOC presidential race Wednesday, promising to use his business experience to guide the Olympics through the world's troubled financial times and proposing to deploy IOC staff... More>>

Vatican releases 1st report of financial watchdog

The Vatican took another step Wednesday to show greater financial transparency by publishing the first annual report from its financial watchdog agency and announcing new regulations to fight money laundering and terror... More>>

Oil stays near $96 before crude stocks report, Fed

By PABLO GORONDI Associated Press The price of oil was little changed above $96 a barrel Wednesday as investors waited confirmation of a rise in U.S. crude stocks and the Federal Reserve's latest views... More>>

Futures rise; all eyes on the Fed

U.S. stock futures are rising with the nation's central bank seemingly committed to ushering along a financial rebound and the housing market nearing an important milestone. More>>

Sony mulls hedge fund's entertainment sale idea

Sony's CEO Kazuo Hirai says the electronics giant's board will discuss a proposal by U.S. hedge fund manager Daniel Loeb to spin off up to 20 percent of its movie, TV and music division. More>>

Kerry praises $2.1 billion Raytheon deal in Oman

U.S. Secretary of State John Kerry met Wednesday with officials in Oman to discuss their plans to buy a $2.1 billion air defense system from American manufacturer Raytheon. More>>

Japan's central bank says economy picking up

Japan's central bank says the world's third-biggest economy is "picking up" as demand recovers in other countries and remains resilient at home, though the trade deficit widened in April, for the tenth straight month. More>>

Bernanke testimony to be studied for policy clues

When Ben Bernanke testifies about the U.S. economy Wednesday, the Federal Reserve chairman's words will be examined for any clues that the Fed might soon taper - or increase - its support for the economy. More>>

North Korean leader sends 'special envoy' to China

North Korean leader Kim Jong Un dispatched a high-profile official and close confidant to travel to China on Wednesday as a special envoy while Beijing is under pressure to rein in its belligerent neighbor. More>>

Apple case seen as possible spur to tax action

Now that tech darling Apple Inc. has been dragged front and center into the debate over the U.S. tax code, lawmakers are hoping that the spotlight on such a high-profile company could be the catalyst for Congress to take... More>>

Asia stocks rise as Fed official backs easy policy

Asian stock markets were mostly higher Wednesday after investor confidence was boosted by a Federal Reserve official's comments that the U.S. central bank should stick with its super-easy monetary policy. More>>

Senate panel approves immigration bill

Far-reaching legislation that grants a chance at citizenship to millions of immigrants living illegally in the United States cleared the Senate Judiciary Committee on a solid bipartisan vote Tuesday night after supporters... More>>

Owner: Chinese boat's captain beaten by NKoreans

Gunmen wearing North Korean military uniforms released a Chinese fishing boat after holding its crew for two weeks, beating up the captain and stealing the vessel's fuel, the boat's owner said. He added that the... More>>

Japan's trade deficit hits $8.6B due to weaker yen

Japan's trade deficit widened to a larger-than-expected 879.9 billion yen ($8.6 billion) in April as its weakening currency accentuated surging import costs. More>>

Senate panel approves immigration bill

Far-reaching legislation to grant a chance at citizenship to millions of immigrants living illegally in the United States cleared the Senate Judiciary Committee on a solid bipartisan vote Tuesday night after supporters... More>>

Ex-Ford execs charged in Argentine torture cases

Three former Ford Motor Co. executives were charged Tuesday with crimes against humanity for allegedly targeting Argentine union workers for kidnapping and torture after the country's 1976 military coup. More>>

JPMorgan's Dimon survives shareholder referendum

Jamie Dimon, the CEO and chairman of JPMorgan Chase, easily survived a vote Tuesday that would have called on him to give up his role as chairman of the nation's largest bank. But shareholders sent a message that the... More>>

Best Buy reports 1Q loss on restructuring costs

Best Buy Co. on Tuesday reported a loss for its fiscal first quarter as it sold its stake in Best Buy Europe and works on a turnaround plan that includes cutting costs and closing some stores. More>>

IRS official to take the 5th at House hearing

Summoned by Congress, a key figure in the Internal Revenue Service's targeting of conservative groups plans to invoke her constitutional right against self-incrimination and decline to testify at a congressional hearing... More>>

Housing recovery boosts Home Depot 1Q results

Home Depot Inc.'s first-quarter net income rose 18 percent, thanks to the ongoing housing recovery, despite a chilly and wet spring. More>>

Stocks gain on reassurance from a top Fed official

Reassuring comments from a Federal Reserve official and better earnings from two big retailers helped push the stock market higher Tuesday. More>>

Key senator to let Myanmar sanctions bill lapse

Senate GOP leader Mitch McConnell, easing up on his long-held tough stance on Myanmar, said Tuesday he planned to allow key sanctions legislation against the Southeast Asian nation to lapse because of the country's... More>>

Senate votes to make small cut to food stamps

The Senate voted Tuesday to keep a $400 million annual cut - or roughly a half of 1 percent - to the food stamp program as part of a major five-year farm bill. More>>

Poll: Teens migrating to Twitter

Twitter is booming as a social media destination for teenagers who complain about too many adults and too much drama on Facebook, according to a new study published Tuesday about online behavior. It said teens are sharing... More>>

New Egypt tax law: cuts for poor, business hikes

Egypt's president signed a new tax law Tuesday that cuts the amount paid by poorer Egyptians in the latest move aimed at reforming the country's economy. More>>

Moniz: LNG exports on hold until data reviewed

Energy Secretary Ernest Moniz said Tuesday he will delay final decisions on about 20 applications to export liquefied natural gas until he reviews studies by the Energy Department and others on what impact the exports would... More>>

Stock indexes close higher on hopes for Fed

Stocks are closing higher on Wall Street as investors bank on continued support from the Federal Reserve. More>>

ESPN cutting workforce, 'smartly managing costs'

ESPN is cutting its workforce, the latest Disney division to reduce staff. More>>

Sprint boosts buyout offer for Clearwire

Sprint Nextel Corp. is offering 14 percent more than before for the stake in wireless data network operator Clearwire Corp. it does not already own, but a large shareholder said the offer was still inadequate. More>>

Sprint to listen to Dish offer

Wireless company Sprint Nextel Corp. says it can now let Dish Network Corp. see its books and talk with Dish to see whether its competing offer to buy Sprint is better than its current deal with Japan's SoftBank. More>>

France: Drugmaker on trial, suspected in deaths

The makers of a diabetes and weight loss drug suspected in the deaths of hundreds of people went on trial Tuesday, facing charges they misled the public about the product's safety. More>>

Germany's SAP to recruit tech staff with autism

German software giant SAP AG said Tuesday it plans to recruit people with autism to take make full use of their talents to process information. More>>

Burberry's profit hit by perfume deal's demise

British luxury brand Burberry said Tuesday that rapidly improving business in developing markets was offset by the end of a perfume licensing deal, dragging net profit down 3 percent for the year. More>>

Indexes edge higher on Wall Street in midday trade

Stock indexes are edging higher in midday trading on Wall Street as investors look ahead to the Federal Reserve's next moves. More>>

How the French economy compares to Germany's, UK's

Here's how the struggling French economy stacks up compared to Germany's and Britain's: More>>

Lew: IRS actions "unacceptable and inexcusable"

Treasury Secretary Jacob Lew says the Internal Revenue Service's targeting of conservative political groups was "unacceptable and inexcusable" and he has directed the agency's acting director to hold people... More>>

Does France have right plan to revive its economy?

The man charged with reviving France's shrinking economy and attracting businesses to invest here is gaining a reputation for doing the opposite. More>>

Indexes edge higher on Wall Street in early trade

Stock indexes are edging higher in early trading on Wall Street as investors look ahead to the Federal Reserve's next moves. More>>

German central bank: Economy to improve 'markedly'

Germany's central bank expects the country's economy to improve "markedly" in the second quarter - a development that could boost the wider eurozone as it struggles to get out of recession. More>>

Oil price down to near $96 as traders wait for Fed

By PABLO GORONDI Associated Press The price of oil fell to near $96 per barrel Tuesday as investors waited for the Federal Reserve's latest views on the U.S. economy. More>>

Futures fall as markets await hints from Fed

U.S. stock futures are down in light trading ahead of an appearance this week by Fed Chairman Ben Bernanke before Congress. More>>

Vodafone annual profits up 1.9 percent

U.K.-based mobile telecoms company Vodafone has reported a 1.9 increase in annual profits despite a slowdown in much of its European operations. More>>

British inflation eases by more than expected

Official figures show that consumer price inflation in Britain eased in April, largely on the back of lower fuel prices and airfares. More>>

China's Li seeks stronger economic ties with India

Chinese Premier Li Keqiang told Indian business leaders Tuesday that developing stronger economic ties between their two nations would have huge benefits for both sides. More>>

Head of embattled G4S security force retires

The chief executive of security firm G4S is to retire after a tumultuous year that saw the company fail to fulfill its Olympic contract. More>>

Should we let wunderkinds drop out of high school?

Thomas Sohmers, 17, of Hudson, Mass., has been working at a research lab at the Massachusetts Institute of Technology since he was 13, developing projects ranging from augmented reality eyewear to laser communications... More>>

Average credit card debt, late payments fall in 1Q

Americans got better about paying their credit card debt on time in the first three months of the year, a period when many borrowers use income tax returns to tackle their holiday season debt. More>>

Asia stocks muted ahead of Fed meeting

Asian stock markets struggled to post gains Tuesday as investors waited for the U.S. Federal Reserve to telegraph what it plans to do next with its economic stimulus program. More>>

Lew taps government retiree pension fund

Treasury Secretary Jacob Lew said late Monday he will begin tapping into two government employee retirement funds to buy more time before the U.S. Treasury is faced with the prospect of defaulting on the national debt. More>>

Judge tosses ex-BP executive's obstruction charge

A federal judge has dismissed a charge that is the backbone of the case against a former BP executive accused of concealing information from Congress about the amount of oil spewing in 2010 from the company's blown-out... More>>

Yahoo looks to regain its cool with Tumblr deal

After falling woefully out of fashion, Yahoo wants to be cool again while catering to the capitalistic demands of its shareholders. That goal led CEO Marissa Mayer to make a $1.1 billion bet on online blogging forum Tumblr... More>>

Obama vows US support as Myanmar leader visits

President Barack Obama on Monday told Myanmar's president during a long-awaited White House meeting that he appreciates the Asian leader's efforts to lead the country on its sometimes difficult path to democracy and... More>>

Panel: Apple uses firms outside US to avoid taxes

Apple Inc. employs a group of affiliate companies located outside the United States to avoid paying billions of dollars in U.S. income taxes, a Senate investigation has found. More>>

Should we let wunderkinds drop out of high school?

It's one thing to say tech geniuses don't need degrees. After all, Bill Gates, Steve Jobs and Mark Zuckerberg all dropped out of college. More>>

Lease to Broadway's biggest theater sold

Britain's biggest theater group has reached across the Atlantic Ocean and bought the lease to Broadway's largest theater from Live Nation Entertainment for about $60 million. More>>

Warren Buffett gives young entrepreneurs 10 shares

Meeting Warren Buffett was exciting, but 10-year-old Matthew Meyer said winning $5,000 and 10 shares of stock in Buffett's company made Monday the best day of his life. More>>

Actavis buying Warner Chilcott in $8.5B deal

Actavis is buying Warner Chilcott in an all-stock deal valued at about $8.5 billion that would create the third-biggest specialty pharmaceutical company in the U.S. market. More>>

Senators require fingerprinting at 30 airports

Senate supporters of far-reaching immigration legislation accepted minor changes in public while negotiating over more sweeping alterations in private Monday as they drove toward expected Judiciary Committee approval by... More>>

White House says more farm subsidy cuts needed

The Obama administration said Monday it wants to see more cuts to agriculture subsidies in a massive farm bill moving through the Senate this week. More>>

Small company stock are a bright spot

Small-company stocks were a bright spot in a subdued start to the week for Wall Street. More>>

Panel: Apple uses firms outside US to avoid taxes

Apple Inc. employs a group of affiliate companies located outside the United States to avoid paying billions of dollars in U.S. income taxes, a Senate investigation has found. More>>

United restarts 787 flights after grounding

By JOSHUA FREED AP Airlines Writer United Airlines put its 787 back in the air on Monday, with both the airline and Boeing hoping to put the plane's four-month grounding behind them. More>>

Alaska unveils plan to assess gas, oil in ANWR

The state of Alaska on Monday proposed a multiyear, multimillion-dollar plan aimed at determining the true oil and gas potential in the Arctic National Wildlife Refuge. More>>

Oil rises on falling dollar; gasoline at $3.65

The price of oil rose Monday, taking its cue from the stock market and the dollar. More>>

Small company stocks take the limelight

Small companies are taking the limelight on a choppy start to the week. More>>

Special K churns out products in brand evolution

Special K was once just a line of cereals. Today, it's a diet food empire. More>>

Ryanair keeps growing, reports record profits

Ryanair reported record profits Monday as Europe's largest budget airline expanded its route network across the continent and into North Africa. More>>

Los Angeles jeweler pleads guilty in KPMG case

The owner of a Los Angeles jewelry store pleaded guilty Monday for his role in an insider-trading case involving a former senior partner at accounting firm KPMG. More>>

Ex-Saab executives arrested on accounting charges

A Swedish prosecutor says three former executives of automaker Saab Automobile AB have been arrested on accounting fraud charges. More>>

Military sex abuse has long-term impact for vets

New government figures underscore the staggering long-term consequences of military sexual assaults: More than 85,000 veterans were treated last year for injuries or illness linked to the abuse, and 4,000 sought disability... More>>

Small-company stocks lead the market higher

The stock market is edging higher in midday trading, led by small-company shares. More>>

Militiamen attack gas complex in western Libya

A Libyan gas company official says militiamen have attacked a natural gas complex in the country's west, injuring two guards and stealing weapons and military vehicles. More>>

Seamless and GrubHub to combine, no terms revealed

Rival online takeout services Seamless North America and GrubHub on Monday announced plans to combine and create a new company covering more than 20,000 restaurants in 500 cities across the U.S. More>>

High court uphold FCC power in cell tower disputes

The Supreme Court has affirmed the authority of federal regulators to try to speed local government decisions on proposals to build or expand cell phone towers. More>>

Stocks open slightly lower on Wall Street

Stocks are opening slightly lower on Wall Street as the stock market comes off of four straight weeks of gains. More>>

Chesapeake names Anadarko executive as new CEO

Chesapeake Energy has named Anadarko Petroleum executive Robert Douglas Lawler as its new CEO. More>>

UAE construction giant faces rare labor strike

United Arab Emirates-based construction company Arabtec says it's working to resolve a rare strike by laborers seeking higher wages. More>>

US futures subdued as investors take stock

U.S. stock futures are relatively flat as investors take a breather and some analysts wonder how long the bull-market run can last. More>>

Oil price falls below $96 a barrel

The price of oil fell Monday ahead of the release later this week of economic data from the U.S. and China, the world's two largest economies, and a speech by the Federal Reserve chief. More>>

Economists predict increase in consumer spending

Consumer spending is likely to pick up this year, while government spending declines at a faster rate, according to a survey of business economists. More>>

China sentences underground bank operator to death

A businesswoman in southern China has been sentenced to death on charges of defrauding investors as the government tightens controls on informal financing that is widely used by entrepreneurs. More>>

AP IMPACT: Military sex abuse victims seek VA help

More than 85,000 veterans were treated last year for injuries or illness stemming from sexual abuse in the military, and 4,000 sought disability benefits, underscoring the staggering long-term impact of a crisis that has... More>>

Russian oligarchs foot most of 2014 Sochi Olympics

The mountains of Sochi are now home to Potanin's slope, Gazprom's gondola lift and Sberbank's ski jump. The nicknames used by locals and an army of construction workers leave no doubt about who is paying for the... More>>

China asks NKorea to release fishing boat, crew

China is urging North Korea to release a Chinese fishing boat whose owner says it was seized by gun-toting North Koreans earlier this month and held for ransom, in the latest irritant in relations between the neighboring... More>>

'Trek' does $70.6M but falls short of studio hopes

"Star Trek: Into Darkness" has warped its way to a $70.6 million domestic launch from Friday to Sunday, though it's not setting any light-speed records with a debut that's lower than the studio's expectations. More>>

US gas prices up 11 cents over past 2 weeks

The average U.S. price of a gallon of gasoline has jumped 11 cents over the past two weeks. More>>

Consumer group flags high SPF ratings on sunscreen

Sunbathers headed to the beach this summer will find new sunscreen labels on store shelves that are designed to make the products more effective and easier to use. But despite those long-awaited changes, many sunscreens... More>>

Jamie Dimon under pressure ahead of investor vote

Jamie Dimon, chairman and CEO of the country's biggest bank, faces a key test this week: His shareholders are voting on whether to let him keep both jobs. More>>

Jamie Dimon under pressure ahead of investor vote

Jamie Dimon, chairman and CEO of the country's biggest bank, faces a key test this week: His shareholders are voting on whether to let him keep both jobs. More>>

Chinese premier visits India to boost ties

Just weeks after a tense border standoff, China's new premier visited India on Sunday on his first foreign trip as the neighboring giants look to speed up efforts to settle a decades-old boundary dispute and boost... More>>

Slim, broadcasters take fight to soccer field

Mexicans often feel that billionaire Carlos Slim owns everything in their country, from telephone and Internet companies to banks and chain stores, but his latest acquisitive foray is meeting resistance after touching a... More>>

Obama agenda marches on despite controversies

Despite Democratic fears, predictions of the demise of President Barack Obama's agenda appear exaggerated after a week of cascading controversies, political triage by the administration and party leaders in Congress and... More>>

White House insists Obama was not involved in IRS

A top White House adviser insisted Sunday that President Barack Obama learned the Internal Revenue Service had targeted tea party groups only "when it came out in the news" while Republicans continued to press the... More>>

'Britain's Obama' urges ties with West Africa

A rising star in Britain's Labour Party, described by some as the "British Barack Obama," Chuka Umunna urged the United Kingdom to more aggressively forge ties with West Africa's fast-growing economies. More>>

Pope leads pep rally at Vatican, meets with Merkel

Pope Francis lamented that investment losses by banks trigger more alarm in the economic crisis than the struggle of people to feed their families, as he led a huge rally Saturday to invigorate the church's moral... More>>

Union leads march in Rome calling for job creation

A union of Italian metal workers has led thousands of people in a march through the heart of Rome to press the new government for measures to spur job creation. More>>

Politics, bribery charges swirl around Ugandan oil

Even before the first drops flow, Uganda's oil sector is beset by bribery allegations against officials, tax-related cases abroad that cost the government millions in legal fees, and the alleged interference of a... More>>

Report: Yahoo nearing $1.1B acquisition of Tumblr

Yahoo may be on the verge of closing its biggest acquisition during the 10-month reign of CEO Marissa Mayer as she tries to attract more traffic and advertisers to the Internet company's website and mobile applications. More>>

Caribbean talks conservation on Branson's island

Surrounded by a turquoise sea and a menagerie of exotic animals on a billionaire's private island, political and business leaders gathered Friday to back an initiative aimed at expanding protection for the... More>>

Energy Dept. backs Texas LNG export plan

The Energy Department on Friday conditionally approved a Texas company's proposal to export liquefied natural gas, only the second such project allowed to move forward amid a production boom that has led to glut of... More>>

Stocks rise on hopeful signs for the US economy

Encouraging news about the U.S. economy extended the stock market's rally Friday. More>>

CBO: Obama budget cuts deficits $1.1T by 2023

President Barack Obama's budget would trim projected federal deficits by $1.1 trillion over the coming decade, using nearly $6 in higher revenues for every $1 in reduced spending to achieve it, Congress' nonpartisan... More>>

A year after IPO, Facebook aims to be ad colossus

It was supposed to be our IPO, the people's public offering. More>>

Pew survey questions Gen X, baby boomer savings

A research report by the Pew Charitable Trusts says younger baby boomers and Generation Xers face an uncertain retirement because of reduced savings, high levels of debt, and losses during the Great Recession. More>>

GM stock rises above $33 for first time in 2 years

Shares of General Motors reached an important milestone on Friday, closing above their initial public offering price of $33 for the first time in more than two years. More>>

Argentine dictator Videla dies in prison at age 87

Former dictator Jorge Rafael Videla, who took power over Argentina in a 1976 coup and led a military junta that killed thousands of his fellow citizens in a dirty war to eliminate so-called "subversives," died quietly in his... More>>

Cyprus drops limits on 8 more foreign banks

Cyprus on Friday got rid of limits on money transfers and withdrawals for international clients of another eight foreign banks doing business in the debt-laden country. More>>

On jobs trip, Obama tries to leave problems behind

President Barack Obama tried on Friday to leave behind the political battles that have overshadowed his second-term agenda, saying lawmakers should work on creating more middle-class jobs in the slowly growing economy. "Our... More>>

Mexico cuts growth outlook from 3.5 to 3.1 percent

The Mexican government says it has cut its economic growth forecast for 2013 from 3.5 percent to 3.1 after exports stagnated and first-quarter GDP figures came in weak. More>>

Brazil approves law to modernize ports

Brazil plans to modernize and expand its overcrowded ports, attract private investments to the sector and make it easier for companies to hire skilled foreign workers, in a bid to spur economic growth, More>>

Syrian hackers compromise FT blog, Twitter feeds

A clutch of Twitter accounts and a blog maintained by the Financial Times were hacked Friday, the latest in a series of cyberattacks claimed by the Syrian Electronic Army, a pro-government group which has regularly targeted... More>>

Glance: Europe's Key Institutions

By The Associated Press Following the chaotic bailout of Cyprus, top European Union officials are saying it's time to rethink how the region manages its crisis - and who should be involved. More>>

Correction: Drunken Driving-Zero Deaths story

In a story May 17 about a National Transportation Safety Board recommendation on a blood alcohol threshold for drivers, The Associated Press incorrectly reported the definition of a drink. The standard definition of a drink... More>>

Retirement tests if Beckham built lasting brand

David Beckham's pecs are at least as much a part of his brand as his kick; his brand of shoes ultimately more lucrative than the game he's giving up. Listed as the world's highest-earning athlete for 2013,... More>>

Greece faces slow, jobless recovery next year

Greece's deep, six-year recession is likely to end in 2014, but growth will be weak and unemployment will remain above 20 percent for another three years, the country's international debt inspectors said. More>>

Italian Cabinet passes first economic measures

Italy's new cross-party government has adopted its first measures to help the economy. They include suspending a tax on primary residences and allocating funds to extend a short-term layoff scheme. More>>

Unemployment falls in 40 US states, rises in 3

Solid hiring helped lower unemployment rates in 40 U.S. states last month, the most since November. The declines show the job market is improving throughout most of the country. More>>

Bloomberg appoints ex-IBM CEO as privacy adviser

Bloomberg LP, the financial news and information service, on Friday said it has appointed Samuel Palmisano, the former CEO of IBM, as an independent adviser on its privacy and data standards. More>>

Fitch downgrades Slovenia amid banking concerns

Fitch Ratings agency has downgraded Slovenia's credit grade by one notch, citing a weak economic outlook and a frail banking system. More>>

World stocks strong into the weekend

World stock markets rose steadily on Friday after two key indicators suggested the U.S. economic expansion will continue. More>>

Gauge of US economy's future health up in April

A measure of the U.S. economy's future health rose solidly in April, buoyed by a sharp rise in applications to build homes and a better job market. More>>

Rising consumer demands aids organic industry sway

The organic food industry is gaining influence on Capitol Hill, prompted by its entry into traditional farm states and by increasing consumer demand. More>>

Top officials call to overhaul euro institutions

Engineering a financial bailout for Cyprus in March was such a chaotic process that top European officials say it is time to rethink how the region manages its crisis - and who should be involved. More>>

Tableau Software soars in trading debut

Tableau Software shares soared in their trading debut Friday after the company and some of its investors raised about $254.2 million in its initial public offering. More>>

EU to ban reusable olive oil bottles in eateries

The small glass bottle filled, and refilled, with golden olive oil has long been a staple on many restaurant tables across Europe. Now, the European Union is going to ban it. More>>

Hints of political change on horizon in Algeria

The Arab Spring may finally be en route to Algeria. More>>

IMF says Cyprus at risk of even deeper recession

The International Monetary Fund said Friday that substantial risks still loom for the Cypriot economy even after a multi-billion dollar international bailout aimed at averting a debt default. More>>

Stocks edge higher in early trading on Wall Street

Stocks are slightly higher in early trading on Wall Street, even as several big retailers slumped after reporting disappointing earnings. More>>

Czech, US cooperate in developing new reactors

The United States says it has completed a transfer of 75 kilograms (165 pounds) of salt coolant material to the Czech Republic as part of cooperation between the two countries in developing new nuclear reactors. More>>

4-month strike at PSA Peugeot Citroen plant ends

A four-month strike at a car factory north of Paris has come to an end, although the workers say they will still fight a plan to close the plant. More>>

Oil gains to near $96 as investors eye US economy

By PABLO GORONDI Associated Press The price of oil rose to near $96 a barrel on Friday ahead of the release of Conference Board's index of leading indicators for the U.S. economy. More>>

Futures rebound ahead of Conference Board report

U.S. stock futures are rising with markets headed for a positive week overall, as investors shrug off some unsettling reports from retailers this week. More>>

European car sales up for first time since 2011

The European auto industry may be showing the first signs of a slowdown in its sales free-fall, according to data from the European automaker's association. More>>

Indian circuses struggle to adapt after court bans

In the early morning heat and dust, daily practice at the Rambo Circus is in full swing. A trapeze creaks as two performers perfect their throws. A Colombian daredevil shouts to his colleagues scrambling atop a giant set of... More>>

Syria ex-minister leads rebuilding plan

A six-member U.N. team led by a former Syrian planning minister is drawing up a comprehensive postwar reconstruction plan even as the country's civil war rages on with no apparent end in sight. More>>

Google challenger in Vietnam redirecting queries

A Russian-financed search engine seeking to challenge Google's dominance in Vietnam is redirecting queries for some politically sensitive terms to the American company's search engine, apparently as a way of avoiding... More>>

Asia stocks mixed as holidays thin trade

Asian stock markets were mixed in holiday-thinned trading Friday as investors digested a slew of disappointing economic data and corporate results from the U.S. More>>

House bill protects homeland security budget

A Republican-controlled House panel moved Thursday to protect the Department of Homeland Security from the big cuts facing other domestic agencies under the party's budget slashing plan. More>>

Wal-Mart's 1Q profit, sales disappoint

The first few months of the year were tough for Wal-Mart Stores Inc. More>>

J.C. Penney posts bigger 1Q loss than expected

The legacy of J.C. Penney's former CEO is being felt at the department-store chain. More>>

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