Business & economy news - KWWL.com

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>>

Japan's trade deficit hits $8.6 billion in April

Japan reports its 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>>

Apple's Cook faces Senate questions on taxes

The Senate dragged Apple Inc., the world's most valuable company, into the debate over the U.S. tax code Tuesday, grilling CEO Tim Cook over allegations that its Irish subsidiaries help the company avoid billions in U.S.... 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>>

Markets choppy ahead of Bernanke testimony

Markets were choppy Tuesday as investors remained cautious in the run-up to a much-anticipated statement from U.S. Federal Reserve chairman Ben Bernanke. 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>>

Owner: Chinese boat's captain beaten by NKoreans

Gunmen wearing North Korean military uniforms released a Chinese fishing boat Tuesday 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... 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>>

Interior issues new drilling rule on public land

Companies that drill for oil and natural gas on federal lands will be required to disclose publicly the chemicals used in hydraulic fracturing operations, the Obama administration said Thursday. The new "fracking" rule... More>>

Dell's dismal 1Q illuminates PC maker's challenges

Dell's financial decay worsened during its latest quarter as the company slashed its personal computer prices in response to the growing popularity of smartphones and tablets. More>>

Ticketmaster settles rewards lawsuit for $23M

Ticketmaster has agreed to settle claims for up to $23 million over a lawsuit affecting more than a million people who, after buying a ticket online, were enrolled in a rewards program that cost $9 a month but never gave... More>>

A late fade on Wall Street; Wal-Mart, Disney slump

Signs of a slowing economy combined with comments from a Federal Reserve official helped pull the stock market down Thursday. More>>

US rate on 30-year mortgage rises to 3.51 pct.

Average U.S. rates on fixed mortgages rose this week but stayed near their historic lows. Cheaper mortgages have helped the economy by spurring more home-buying and refinancing. More>>

CFTC adopts weakened rule on derivatives trading

A rule intended to loosen the largest U.S. banks' control over the trading of complex investments and help safeguard the financial system was weakened Thursday by regulators. More>>

Second court invalidates Obama recess appointment

A second federal appeals court has found that President Barack Obama exceeded his power when he bypassed the Senate to install a member to the National Labor Relations Board. More>>

Canada PM on pipeline plan: Oil to come anyway

A controversial oil pipeline to the U.S. Gulf Coast "absolutely needs to go ahead," Canada's prime minister said Thursday, and he warned that the oil will be transported through America one way or another. More>>

Venezuelans scrambling to find scarce toilet paper

Venezuelans scrambled to stock up on toilet paper Thursday as fears of a bathroom emergency spread despite the socialist government's promise to import 50 million rolls. More>>

Only 2 of 13 small SUVs do well in crash tests

Only two of 13 small SUVs performed well in front-end crash tests done by an insurance industry group, with several popular models faring poorly in the evaluations. More>>

A late fade on Wall Street; Wal-Mart, Disney slump

Weak sales from Wal-Mart and discouraging economic reports resulted in a down day on the stock market. More>>

Senate confirms physicist Moniz as energy chief

Physicist Ernest Moniz won unanimous Senate confirmation Thursday to be the nation's new energy secretary. More>>

Puerto Rico faces lowest coffee production ever

Coffee production in Puerto Rico has hit the lowest level ever in the island's history, leaving farmers and government officials worried about how to revive a once burgeoning industry amid a deep economic crisis. More>>

Airlines losses narrowed in 1Q to $552 million

U.S. airlines charged more in fares and fees and reduced debt as they improved their financial performance in the first quarter. More>>

Oil reverses early losses, tops $95 a barrel

Oil followed a familiar pattern Thursday, moving higher despite some less-than-stellar economic reports. More>>

Puerto Rico faces lowest coffee production ever

Coffee production in Puerto Rico has hit the lowest level ever in the island's history, leaving farmers and government officials worried about how to revive a once burgeoning industry. More>>

Turkish PM talks Syria with Obama at White House

President Barack Obama said Thursday that the U.S. and Turkey will keep ramping up pressure to oust Syrian President Bashar Assad from power, but there's "no magic formula" to stop his violence. More>>

Senate panel considers labor board nominees

Senate Republicans said Thursday they would not support five nominees to the National Labor Relations Board, raising the possibility the troubled agency could be rendered mostly inoperable later this year. More>>

Sector Snap: Makers of computer networking gear

Investors snapped up the stocks of companies that make computer networking gear Thursday after industry leader Cisco Systems Inc.'s latest quarterly earnings raised hope that business is picking up after a long stretch... More>>

Deep divide in Congress over domestic food aid

The House and Senate Agriculture Committees laid the groundwork this week for reducing the size of the federal food stamp program, approving farm bills that would shrink food aid and alter the way people qualify for it. More>>

Merkel, Hollande at odds over Europe's way forward

Germany and France recognize that their cooperation is key to overcoming Europe's persistent economic crisis, but comments Thursday by the leaders of the continent's No. 1 and 2 economies suggested they still have... More>>

Trump goes to court to oppose Scotland wind farm

American tycoon Donald Trump is taking legal action to challenge the Scottish government's decision to approve an offshore wind farm near his luxury golf resort. More>>

INFLUENCE GAME: Tech, labor spar on immigration

To the U.S. technology industry, there's a dramatic shortfall in the number of Americans skilled in computer programming and engineering that is hampering business. To unions and some Democrats, it's more sinister:... More>>

Greek strikes halt air travel

Flights in Greece were halted for four hours Thursday as the country's two largest labor unions staged work stoppages to protest austerity measures and a government decision to cancel a teachers' strike. More>>

Global luxury goods sales slowing

Global sales of luxury goods are off to a slow start in 2013 and aren't expected to match the double-digit growth of the last three years, consultancy Bain & Co. said in a study released Thursday. More>>

Pope blasts "cult of money" that tyrannizes poor

Pope Francis has denounced the global financial system, blasting the "cult of money" that he says is tyrannizing the poor and turning humans into expendable consumer goods. More>>

Lawmakers accuse Google of dishonesty over taxes

U.K. lawmakers subjected search giant Google to blistering criticism Thursday, accusing the U.S. Internet company of playing games with Britain's tax rules to avoid paying what it owed. More>>

Cisco leads the Dow higher after earnings beat

Indexes are slightly higher at midday on Wall Street, pushing the stock market further into record territory. More>>

Apple says App Store hit 50 billion downloads

Apple says its customers have downloaded more than 50 billon applications from its App Store since its launch in 2008. More>>

RBS to cut another 1,400 retail bank jobs in UK

Royal Bank of Scotland says it is cutting 1,400 jobs from its retail banking operations over the next two years. More>>

UK officials: BP not seeking gov't help with spill

British government officials said Thursday that BP has not sought Prime Minister David Cameron's help in reducing compensation claims for its role in the disastrous 2010 oil spill in the Gulf of Mexico. More>>

Weak open on Wall Street; Wal-Mart disappoints

Stocks are opening slightly lower on Wall Street a day after the market hit its latest record high. More>>

Argentina brokers 24 pct wage hikes for millions

Two million Argentines will get wage hikes of 24 percent under a deal President Cristina Fernandez brokered with six allied labor unions. More>>

Senate panel backs Perez to head Labor Dept.

A Senate panel has endorsed the nomination of Justice Department official Thomas Perez to head the Labor Department despite opposition from Republicans. More>>

US consumer prices fall 0.4 pct. on cheaper gas

A plunge in the cost of gas drove down a measure of U.S. consumer prices last month by the most since December 2008. Excluding the drop in fuel costs, prices were largely unchanged. More>>

US consumer prices fall 0.4 pct. on cheaper gas

A plunge in the cost of gas drove down a measure of U.S. consumer prices last month by the most since December 2008. Excluding the drop in fuel costs, prices were largely unchanged. More>>

US jobless claims jump to highest level in 6 weeks

The number of Americans seeking unemployment benefits rose 32,000 last week to a seasonally adjusted 360,000, the most since late March. The jump came a week after applications had reached a five-year low. More>>

US housing starts fell in April but permits surged

U.S. builders broke ground on fewer homes in April, one month after topping the 1 million mark for the first time since 2008. But most of the decline was in apartment construction, which tends to vary sharply from month to... More>>

Futures fluctuate on mixed signals from retail

U.S. stock futures fluctuated Thursday on a bevy of economic data that sent mixed signals about hiring, construction, jobs and the mindset of the American consumer. More>>

US jobless claims jump to highest level in 6 weeks

The number of Americans seeking unemployment benefits rose 32,000 last week to a seasonally adjusted 360,000, the most since late March. The jump came a week after applications had reached a five-year low. More>>

US housing starts fell in April but permits surged

U.S. builders broke ground on fewer homes in April, one month after topping the 1 million mark for the first time since 2008. But most of the decline was in apartment construction, which tends to vary sharply from month to... More>>

Cambodian shoe factory collapse kills 2, injures 7

The ceiling of a Cambodian factory that makes Asics sneakers collapsed on workers early Thursday, killing two people and injuring seven, in the latest accident spotlighting the often lethal safety conditions faced by those... More>>

Oil falls below $94 a barrel amid high supplies

By PABLO GORONDI Associated Press The price of oil slipped below $94 a barrel Thursday as traders digested discouraging economic data from the United States and Europe and U.S. oil supplies remained high. More>>

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