Business & economy news - 7News Boston WHDH-TV

Ex-NYC mayor: US should allow flights to Israel

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By The Associated Press Former New York Mayor Michael Bloomberg is urging the Federal Aviation Administration to "reverse course" and permit U.S. airlines to fly to Israel. More>>

Senate, House on collision course on border money

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Senate Democrats prepared Tuesday to whack $1 billion from President Barack Obama's emergency spending request for the border, while leaving out policy changes Republicans have demanded as their price for agreeing to... More>>

CEO: Rivers to quit Clippers if Sterling stays

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The interim CEO of the Los Angeles Clippers testified Tuesday that coach Doc Rivers told him he will quit if Donald Sterling remains the owner of the team. More>>

Dueling rulings: Courts split on health law clash

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President Barack Obama's health care law is snarled in another big legal battle, with two federal appeals courts issuing contradictory rulings on a key financing issue within hours of each other Tuesday. More>>

Microsoft CEO sees 'bold' plan as 4Q tops Street

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Microsoft Corp. CEO Satya Nadella painted an upbeat vision of the future Tuesday, saying that the next version of Windows will be unified across screens of all sizes and that two money-losing units - Nokia phones and Bing... More>>

Netflix tops 50M subscribers as 2Q earnings soar

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Netflix's second-quarter earnings more than doubled as new episodes from a hit series helped the Internet video service surpass 50 million worldwide subscribers for the first time. More>>

Airlines ban flights to Israel after rocket strike

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A Hamas rocket exploded Tuesday near Israel's main airport, prompting a ban on flights from the U.S. and many from Europe and Canada as aviation authorities responded to the shock of seeing a civilian jetliner shot... More>>

Ackman goes after Herbalife's nutrition clubs

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Activist investor Bill Ackman once again denounced weight loss and nutritional supplements company Herbalife as a pyramid scheme, but Wall Street shrugged off his criticism and sent the company's stock soaring 25... More>>

Gulf oil spill: Ex-BP engineer's retrial postponed

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The August retrial of a former BP engineer accused of obstructing justice in an investigation of the 2010 Gulf of Mexico oil spill has been postponed while an appeals court decides whether a judge was right to throw out... More>>

Undercover probe finds health law failings

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Congressional investigators using fake identities were able to obtain taxpayer-subsidized health insurance under President Barack Obama's law, according to testimony to be delivered Wednesday. More>>

Apple post biggest earnings gain in nearly 2 years

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Apple's growth prospects are looking brighter as anticipation builds for the upcoming release of the next iPhone, a model that is expected to cater to consumers yearning for a bigger screen. More>>

Contrarian's case: Why US could dip into recession

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Just as the U.S. economy is strengthening, other countries are threatening to drag it down. More>>

Plane crash bodies removed from war zone

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A train bearing the dead from the downed Malaysian airliner finally reached Ukrainian government-held territory Tuesday, but the pro-Russian separatists in control of the crash site showed little willingness to allow the... More>>

Big issues loom for Congress as Aug. recess nears

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Pressure is on Congress to act in the next two weeks on several problems, from keeping highway projects on track and easing wait time for veterans seeking health care to the humanitarian crisis at the U.S.-Mexico border. More>>

NY judge orders 24-7 Argentina debt talks

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A federal judge Tuesday ordered around-the-clock negotiations aimed at averting a second debt default by Argentina in 13 years, saying a default would hurt "real people." More>>

US stocks climb as earnings reports roll in

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Solid earnings for a range of big companies helped nudge the stock market higher on Tuesday. More>>

Solid earnings drive more gains in US stocks

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U.S. stocks are closing higher as more companies turn in solid earnings. More>>

Bond insurers vow to fight Detroit financial plan

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Companies that insure Detroit bonds and stand to lose millions repeated a pledge Tuesday to aggressively challenge the city's bankruptcy plan, a day after retirees endorsed pension cuts and qualified for a bailout led... More>>

Amid sanctions, France in warship sale to Russia

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France says it will go ahead with the sale of a warship to Russia despite calls for an arms embargo against the country, highlighting how Europe's strong business ties are hindering its ability to punish Moscow over... More>>

Gaza blockade key to any Israel-Hamas truce deal

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Ibrahim Zain was driven from his home by Israeli tank fire this week, but says he'd rather endure more Israel-Hamas fighting than accept an unconditional cease-fire he fears will leave in place the blockade of the Gaza... More>>

Target debuts an image-recognition shopping app

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Target is introducing an app that lets users purchase items after scanning magazine ads with their smartphones. It's the latest offering from retailers looking to boost sales with the use of improving image-recognition... More>>

Protect yourself from identity theft

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It's an almost weekly occurrence: On Tuesday, Goodwill said its computer systems may have been hacked, leading to the possible theft of customers' credit and debit card information. The nonprofit agency, which... More>>

European agency urges airlines to avoid Tel Aviv

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The European Aviation Safety Agency says it "strongly recommends" that airlines refrain from operating flights to and from Tel Aviv. More>>

US job-training review emphasizes data, employers

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As the U.S. economy adds new jobs, Americans must have the skills to fill those jobs, President Barack Obama said Tuesday. More>>

China meat scandal hits Starbucks, Burger King

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A suspect meat scandal in China engulfed Starbucks and Burger King on Tuesday and spread to Japan where McDonald's said the Chinese supplier accused of selling expired beef and chicken had provided 20 percent of the... More>>

Coke's sales miss estimates as Diet Coke flags

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Coca-Cola Co. reported sales that fell short of Wall Street estimates on Tuesday as demand weakened for Diet Coke in North America. More>>

Comcast 2Q earnings top views on Internet hookups

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Comcast's second-quarter net income rose 15 percent to nearly $2 billion as it added high-speed Internet customers at a faster pace and video subscriber losses moderated. More>>

Saudi stock market to allow foreign investment

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The Saudi government has approved a measure that will open the region's largest stock market to direct foreign investment next year, news that sent the exchange surging Tuesday to its highest level in nearly seven years. More>>

Appeals court in Va. upholds health care subsidies

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A federal appeals court in Virginia has upheld tax subsidies for low- and middle-income people who buy insurance under the Obama administration's health care reform law. More>>

McDonald's profit slips; US sales decline

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McDonald's Corp. said its profit slipped in the second quarter as sales in the U.S. continued to flag. More>>

Global stocks recover as plane tensions ease

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Global stocks rallied Tuesday amid more solid U.S. earnings reports and as the bodies of those killed in the Malaysia Airlines crash reached Ukrainian government-controlled territory. More>>

Goodwill, feds investigate possible data breach

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Nonprofit organization Goodwill Industries Inc. is working with federal officials to investigate a possible security breach. More>>

Verizon launches rewards program with tracking

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Verizon Wireless is launching a nationwide loyalty program this week for its 100-million-plus subscribers. There's a twist, though: To earn points for every dollar spent, subscribers must consent to have their... More>>

US home sales increase 2.6 percent in June

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Sales of previously owned homes rose for a third straight month in June, pushing activity to the highest level in eight months and providing evidence that housing is regaining lost momentum. More>>

Credit Suisse in steep loss after US tax case

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Credit Suisse, Switzerland's second-biggest bank, posted a second-quarter net loss of 700 million Swiss francs ($779 million) Tuesday after paying the largest penalty ever imposed in a U.S. criminal tax case. More>>

Stocks move higher; Comcast, Lockheed gain

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U.S. stocks are moving higher in midday trading as more companies turn in solid earnings reports. More>>

Ukraine tensions see euro come off boil

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The euro fell Tuesday to its lowest level against the dollar this year amid concerns that the downing of Malaysia Airlines Flight 17 will prompt a bigger freeze in relations between the European Union and Russia. More>>

US consumer prices up 0.3 percent in June

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U.S. consumer prices rose in June at a slightly slower pace than in May with two-thirds of the June advance driven by the largest jump in gasoline prices in a year. More>>

Stocks open higher; Comcast, Lockheed gain

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U.S. stocks are moving higher in early trading as more companies turn in solid earnings reports. More>>

Marlboro maker Altria's 2Q profit stays flat

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Marlboro maker Altria Group posted flat second-quarter earnings Tuesday as higher prices helped to offset decline in the number of cigarettes it sold. More>>

Verizon 2Q profit rises 93 percent

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Verizon reported Tuesday that its second-quarter earnings nearly doubled after it secured full ownership of Verizon Wireless. More>>

Oil gains further on concerns over Ukraine, Gaza

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By PABLO GORONDI Associated Press The price of oil rose above $103 a barrel Tuesday on persisting jitters over the situation in Gaza, the standoff over the shooting down of a Malaysian airliner in Ukraine... More>>

CIT Group buying OneWest Bank in $3.4B deal

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CIT Group will buy privately owned OneWest Bank in a $3.4 billion cash-and-stock deal. More>>

DuPont 2Q profit climbs 3.9 percent

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DuPont Co. (DD) on Tuesday reported net income that climbed by 3.9 percent in its second quarter, matching analyst expectations. More>>

Axed Nokia X phones suffered from lack of identity

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The Nokia X phones that Microsoft discontinued this week blend two rival operating systems, but leave out the best of each. More>>

Verizon boosts FiOS uploads to match downloads

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Verizon is boosting the upload speeds of nearly all its FiOS connections to match the download speeds, vastly shortening the time it takes for subscribers to send videos and back up their files online. More>>

Amazon rolls out 'Netflix-for-books' style service

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Amazon is rolling out a new subscription service that will allow unlimited access to thousands of electronic books and audiobooks for $9.99 a month in the online giant's latest effort to attract more users. More>>

Detroit retirees vote in favor of pension cuts

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Workers and retirees approved pension cuts in Detroit's bankruptcy by a landslide, the city reported Monday, a crucial step to emerging from the largest municipal insolvency in U.S. history. More>>

Rebels release train with bodies from downed jet Video included

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Bowing to international pressure, pro-Moscow separatists released a train packed with bodies and handed over the black boxes from the downed Malaysia Airlines plane, four days after it plunged into rebel-held eastern Ukraine. More>>

Judge tosses Wisconsin senator's health care suit

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A federal judge on Monday dismissed a U.S. senator's lawsuit challenging a requirement that congressional members and their staffs to obtain government-subsidized health insurance through small business exchanges,... More>>

JetBlue pilot among 6 arrested in Boston drug bust

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A JetBlue pilot from Florida is among six people arrested by Boston police over the weekend in an investigation of drug dealing incidents near the Boston Common. More>>

Beef pollutes more than pork, poultry, study says

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Raising beef for the American dinner table does far more damage to the environment than producing pork, poultry, eggs or dairy, a new study says. More>>

US stock slip to start the week; Six Flags sinks

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The stock market started the week with a slight loss on Monday as investors weighed a mixed batch of corporate earnings against mounting political turmoil. More>>

Weak earnings, Ukraine tensions weigh on stocks

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Stocks are closing lower as U.S. companies turn in mixed quarterly results and as investors worry about tensions with Russia over the downed airliner in Ukraine. More>>

Star Wars Car, a Doomsday doll: Toys of Comic-Con

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When it comes to designing coveted collectible toys for sale at Comic-Con, the annual celebration of pop culture lifting off Thursday in San Diego, the sky's the limit for the designers at Mattel. Fittingly, the... More>>

German supermarket tycoon Albrecht dead at 94

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Karl Albrecht, co-founder of the Aldi grocery store empire and one of the world's richest people, has died in the western German city of Essen. He was 94. More>>

Allergan to cut 1,500 employees in restructuring

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By TOM MURPHY AP Business Writer Botox maker Allergan will cut about 13 percent of its workforce as part of a push to become more efficient while it fights a hostile takeover bid from Valeant... More>>

US stocks slip following mixed company earnings

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Stocks are moving lower as U.S. companies turn in mixed quarterly results and as investors worry about tensions with Russia over the downed airliner in Ukraine. More>>

Oil prices rebound above $103 on geopolitical risk

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By PABLO GORONDI Associated Press Oil prices rebounded slightly on Monday as traders gauged the possibility of more sanctions against Russia and more violence in Libya. More>>

US stocks open lower as more earnings roll in

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Stocks are opening lower as more U.S. companies turn in their quarterly results and as investors worry about tensions with Russia over the downed airliner in Ukraine. More>>

US companies report rising sales, employment in 2Q

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Rising sales helped boost hiring and wages at U.S. businesses in the second quarter, and companies are optimistic that the trends will continue this fall, according to a new survey by the National Association for Business... More>>

Russia's Severstal selling US plants for $2.3B

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Russian steel company Severstal is exiting the U.S. market, selling a pair of steel plants to AK Steel and Steel Dynamics for about $2.33 billion. More>>

Tesco chief Philip Clarke to step down

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Tesco says Chief Executive Officer Philip Clarke will be stepping down after the latest earnings figures showed Britain's largest retailer by revenue struggled at home. More>>

RJ Reynolds vows to fight $23.6B in damages

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The nation's No. 2 cigarette maker is vowing to fight a jury verdict of $23.6 billion in punitive damages in a lawsuit filed by the widow of a longtime smoker who died of lung cancer. More>>

Family spokesman: Ex-Oregon Gov. Vic Atiyeh dies

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Vic Atiyeh, Oregon's last Republican governor who shepherded the state through a deep recession during two terms in the 1980s, died Sunday night, a family spokesman said. More>>

After hybrid success, Toyota gambles on fuel cell

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Rocket science long dismissed as too impractical and expensive for everyday cars is getting a push into the mainstream by Toyota, the world's top-selling automaker. More>>

Facebook tests 'Buy' button

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Facebook is testing a "Buy" button in its latest effort to help businesses boost their sales through the world's biggest online social network. More>>

Google's 2Q revenue gains eclipse earnings miss

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Google's earnings rose modestly in the second quarter as the Internet company's expensive ambitions devoured most of a surprisingly strong gain in revenue. More>>

Microsoft CEO pivots sharply with 18,000 job cut Video included

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Microsoft announced the biggest layoffs in its 39-year history Thursday, outlining plans to cut 18,000 jobs in a move that marked the CEO's sharpest pivot yet away from his predecessor's drive for the company to... More>>

Q&A: How Malaysia Airlines can salvage its brand

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By The Associated Press Malaysia Airlines is in uncharted territory after the disappearance of Flight 370 in March with 239 people aboard was followed this week by the downing of another of its jets,... More>>

Plane crashes near New York's Lake Placid; 3 dead

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A small plane crashed Saturday while attempting to land at an airport near Lake Placid, killing all three people on board. More>>

Airlines symbolize nations' hopes or reflect shame

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The jetliner is much more than a machine used to get from one spot to another. It often carries deep symbolism, especially when flying for a national airline. More>>

Bodies from downed jet piled in boxcars in Ukraine

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Pro-Moscow rebels piled nearly 200 bodies from the downed Malaysian jetliner into four refrigerated boxcars Sunday in eastern Ukraine, and cranes at the crash scene moved big chunks of the Boeing 777, drawing condemnation... More>>

Why airlines didn't avoid risky Ukraine airspace

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By DAVID KOENIG and SCOTT MAYEROWITZ AP Airlines Writers The shooting down of a Malaysian Airlines plane with nearly 300 people on board over war-torn eastern Ukraine is likely to have profound... More>>

Distraught Dutch mother: 'Send my children home'

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A distraught, grieving mother summed up a swelling mood of despair and anguish in the Netherlands on Sunday at faltering efforts to repatriate the bodies of loved ones killed in the downing of Malaysia Airlines Flight 17,... More>>

'Apes' outmuscles 'The Purge' at box office

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The summer box office continued to lack mojo, as the R-rated "Sex Tape" failed to turn on moviegoers over a weekend where "Dawn of the Planet of the Apes" maintained its rule. More>>

Lightning a threat to ND saltwater disposal sites

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Three massive fires since the beginning of June have highlighted the threat lightning poses in the North Dakota oil patch, and in each case it was tanks that store the toxic saltwater associated with drilling - not the oil... More>>

FedEx charged with assisting illegal pharmacies

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Federal authorities on Thursday charged FedEx with assisting illegal pharmacies by knowingly delivering painkillers and dangerous drugs to customers without prescriptions. More>>

States sue 5-Hour Energy over ad claims

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Two attorneys general from the Northwest have sued the companies responsible for the popular 5-Hour Energy drink, alleging they engaged in deceptive advertising. More>>

Studies see new risks for cholesterol drug niacin

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By MARILYNN MARCHIONE AP Chief Medical Writer New details from two studies reveal more side effects from niacin, a drug that hundreds of thousands of Americans take for cholesterol problems and general... More>>

Ukraine crisis shows divisions in old Soviet bloc

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Poland's foreign minister had sharp words on the downing of the Malaysia Airlines jumbo jet in Ukraine - blaming the crash on Russia-backed "bandits." But throughout most of central and eastern Europe, leaders withheld... More>>

Double disasters taint Malaysia Airlines

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Hit by two astonishing tragedies in quick succession, the Malaysia Airlines brand may become the airline industry's equivalent of asbestos or News of the World: toxic to the public and, experts say, impossible to redeem. More>>

Monitors try to secure Ukraine plane crash site Video included

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International monitors moved gingerly Saturday through fields reeking of the decomposing corpses that fell from a Malaysian airliner shot down over rebel-held eastern Ukraine, trying to secure the sprawling site in hopes... More>>

Study says national parks boost economy in West

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National parks and monuments boosted the economies of surrounding communities in Wyoming, Montana and Idaho by a combined $1.15 billion last year, according to a new study. More>>

Fox bid for Time Warner sparks content merger race

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Even though Rupert Murdoch's $76 billion bid for rival media giant Time Warner Inc. has been rejected, that doesn't mean how you watch TV shows and movies will stop changing any time soon. More>>

DNA being collected to ID Ukraine crash victims Video included

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Forensic teams fanned out across the Netherlands on Saturday to collect material that will help positively identify the remains of victims killed in the downing of the Malaysia Airlines plane over Ukraine. Families and... More>>

Fewer gas leaks found in cities with new pipes

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Cities such as Indianapolis that regularly replace old natural gas lines have significantly fewer leaks than older urban areas where they don't, like Boston and New York City's Staten Island, according to a new... More>>

Credible probe sought in downing of Malaysian jet

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World leaders demanded Friday that pro-Russia rebels who control the eastern Ukraine crash site of Malaysia Airlines Flight 17 give immediate, unfettered access to independent investigators to determine who shot down the... More>>

Federal judge sends key GM case to Georgia court

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A federal judge in Atlanta has sent an important wrongful death lawsuit against General Motors back to a Georgia court. More>>

Genentech Alzheimer's drug misses goals in studies

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By MARILYNN MARCHIONE AP Chief Medical Writer An experimental drug from the biotech company Genentech failed to slow mental decline in mid-stage studies on more than 500 people with mild to moderate... More>>

US stocks mount strong rebound on company earnings

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By ALEX VEIGA AP Business Writer Investors jumped on a wave of strong corporate financial results Friday, propelling stocks higher for the third time in five days. More>>

Stronger earnings from Google, others drive stocks

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Earnings gains from Google, Honeywell and other big U.S. companies drive the stock market to a higher close, wiping out much of its loss from the day before. More>>

New Toyota minivan makes it easier to yell at kids

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Toyota wants to help you scream at your unruly kids. More>>

Ranking US states by job creation in past 5 years

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Since the Great Recession officially ended in June 2009, the U.S. economy has generated 7.8 million jobs. But the gains haven't been spread evenly across the country. More>>

Forbes sells majority stake to group of investors

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Forbes said Friday it will sell a majority stake in the family owned magazine publisher to a Hong Kong-based investor group. More>>

Electrolux posts Q2 loss on restructuring costs

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Swedish home appliance maker Electrolux has posted a second-quarter net loss of 92 million ($13.5 million) kronor, citing large restructuring charges, but says demand in Europe and the United States is picking up. More>>

Glance: Biggest corporate deals so far this year

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By The Associated Press Abbvie Inc.'s deal to combine with Shire PLC would be the largest made so far this year, excluding assumed debt. Here are the top five: More>>

Markets steady but Malaysia jet jitters remain

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Markets settled down Friday but jitters over the downing of a Malaysian jetliner over Ukraine remained at the fulcrum of investors' thoughts. More>>

US stocks move higher as companies post results

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U.S. stocks are moving higher after Google, Honeywell and other big companies report their quarterly results. More>>

AbbVie, Shire agree on $55B combination

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By TOM MURPHY AP Business Writer The drugmaker AbbVie has reached a deal worth roughly $55 billion to combine with British counterpart Shire and become the latest U.S. company to seek an overseas haven... More>>

US-EU trade talks sour amid chlorine chicken fears

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Visions of chlorine-drenched chickens and the prospect of genetically modified "Frankenfood" invading dinner tables across the European Union are proving serious impediments to the signing of a sweeping free trade... More>>

Gauge of US economy rises 0.3 percent in June

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A gauge designed to predict the economy's future health increased in June for a fifth consecutive month, supporting the view that economic growth should accelerate in the second half of this year. More>>

Strike threat plays to Cuomo's image as pragmatist

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New York Gov. Andrew Cuomo's work to avert a strike on the nation's largest commuter rail system won praise from commuters and political observers alike - while playing nicely into his aggressively cultivated image... More>>

US stocks rise as companies post results

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U.S. stocks are opening higher after Google, Honeywell and other big companies report their quarterly results. More>>

Kia recalls nearly 52,000 Souls to fix steering

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Kia is recalling nearly 52,000 Soul small SUVs to fix a problem that can cause steering failure. More>>

GE 2Q profit jumps 13 pct on aviation, oil and gas

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General Electric's net income rose 13 percent in the second quarter on strong performance from its aviation and oil and gas divisions. More>>

French train crash: Signal problems, uneven speed

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France's transport chief says faulty maintenance on a signal and hot weather may have played a role in the collision of two trains in southwest France, which left 25 injured. More>>

Ukraine: Pro-Russia rebels downed Malaysian plane Video included

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Ukraine accused pro-Russian separatists of shooting down a Malaysian jetliner with 298 people aboard, sharply escalating the crisis and threatening to draw both East and West deeper into the conflict. The rebels denied... More>>

Malaysia says jetliner did not make distress call

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The Malaysia Airlines jetliner that went down in war-torn Ukraine did not make any distress call, Malaysia's prime minister said Friday, adding that its flight route had been declared safe by the global civil aviation... More>>

Israel invades Gaza after Hamas rejects truce

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The heavy thud of tank shells, often just seconds apart, echoed across the Gaza Strip early Friday as thousands of Israeli soldiers launched a ground invasion, escalating a 10-day campaign of heavy air bombardments to try... More>>

US unemployment aid applications drop to 302,000

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The number of people seeking U.S. unemployment benefits fell last week, a steady decline that suggests a strengthening job market. More>>

For Malaysia Airlines, disaster strikes twice

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Two Boeing 777s. Two incredibly rare aviation disasters. And one airline. More>>

Clinton: Will have 'specific agenda' if she runs

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Hillary Rodham Clinton said Thursday if she decides to run for the White House in 2016 she will have "a very specific agenda" but acknowledged in an interview that the modern role of U.S. president has "gotten even bigger... More>>

Senators call on GM CEO to fire top lawyer

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Lawmakers demanded General Motors fire its chief lawyer and do more to help crash victims as a Senate subcommittee delved deeper into GM's mishandling of the recall of small cars with defective ignition switches. More>>

Jet downing, weak earnings rattle stock market

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By ALEX VEIGA AP Business Writer The downing of a passenger plane flying over Ukraine rattled U.S. financial markets Thursday, deepening a slide set off by a batch of disappointing company earnings and a... More>>

Airbus beats Boeing in airshow orders race

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Airbus beat rival Boeing in the aircraft order stakes at this year's Farnborough International Airshow, getting nearly twice as many orders and commitments. More>>

Report: Labor force drop had pre-recession roots

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Declaring the Great Recession only partly to blame, White House economists say the increasing number of Americans dropping out of the labor force dampens economic growth and demands policy changes that create more job... More>>

EPA: Duke done dredging coal ash from NC river

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Duke Energy has completed removal of large pockets of coal ash from the Dan River months after a massive spill at a North Carolina power plant, federal environmental officials said Thursday. More>>

Chinese woman in trade secrets case seeks release

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The value of the patented seed allegedly stolen from U.S. seed corn companies likely exceeds $500 million, federal prosecutors said Thursday, higher than previous estimates. More>>

Apple may refund $400M in digital book settlement

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Apple will refund up to $400 million to consumers ensnared in a plot to raise the prices of digital books unless the company gets a court to overturn a decision affirming its pivotal role in the collusion. More>>

Jet downing, weak earnings rattle stock market

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By The Associated Press Stocks are closing sharply lower as traders worried about an escalation of tensions between Russia and the West following the downing of a passenger plane in eastern Ukraine. More>>

Hard Rock Hotel & Casino to open at Lake Tahoe

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The managers of the Hard Rock Hotel & Casino in Las Vegas have announced plans to open one at Lake Tahoe this winter after a $60 million renovation of the former Horizon Casino Resort at Stateline. More>>

House passes tax breaks to boost charitable giving

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The House passed a package of tax breaks Thursday designed to boost charitable donations by seniors, private foundations and procrastinators. More>>

Largest US insurer's move signals industry shift

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By TOM MURPHY AP Business Writer The nation's largest health insurer expects to play a much bigger role in the health care overhaul next year, as the federal law shifts from raising giant questions... More>>

Senators call on GM CEO to fire top lawyer

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Lawmakers on Thursday demanded General Motors fire its chief lawyer and open its compensation plan to more potential victims as a Senate subcommittee delved deeper into GM's mishandling of the recall of small cars with... More>>

Fiat denies merger talks with VW

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Italian automaker Fiat and its main shareholder denied on Thursday a media report that the company is in merger talks with rival Volkswagen. The German carmaker also said it had no plans for mergers or acquisitions. More>>

For US and Europe, divisions over Russia penalties

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The United States and Europe are seeking to maintain a united front against Russia with coordinated announcements of new economic sanctions, but divisions persist over how aggressive the West should be in punishing Moscow... More>>

Arabtec shares suspended on Dubai Financial Market

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The Dubai Financial Market on Thursday suspended trading shares of the emirate's largest construction company, Arabtec Holding, after rumors swirled that the firm's biggest shareholder was in talks to sell off a... More>>

Morgan Stanley quarterly profit more than doubles

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Morgan Stanley said Thursday that its quarterly profit more than doubled, thanks to strong performances from its investment banking and money-management units. More>>

Markets roiled by fresh US sanctions on Russia

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Another round of U.S. sanctions on Russia weighed on markets Thursday. News that a Malaysia Airlines passenger plane carrying 295 had been shot down over Ukraine added to the negative tone. More>>

Stocks edge lower in midday trading; Mattel sinks

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By The Associated Press Stocks are moving slightly lower at midday following mixed news about the economy and the latest batch of corporate earnings. More>>

Average US mortgage rates dip slightly

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Average U.S. mortgage rates declined slightly this week with rates remaining near historic lows. More>>

Japan approves joint missile study, export to US

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Japan has approved the export of a locally-made component for a missile defense system to the U.S. and is launching joint research with Britain on air-to-air missile technology for fighter jets. More>>

Factory growth fastest in 3 years in Philly region

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Manufacturing in the Philadelphia region surged in July, expanding at its fastest pace in more than three years, as new orders, shipments, and hiring all rose. More>>

UnitedHealth's 2Q profit slips 2 percent

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By TOM MURPHY AP Business Writer UnitedHealth Group's second-quarter earnings slipped 2 percent on a rise in taxes and other expenses, but the nation's largest health insurer still trumped analyst... More>>

Oil surges to near $103 as US stockpiles fall

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By PABLO GORONDI Associated Press The price of oil surged to near $103 a barrel Thursday after a U.S. inventories report showed a larger-than-expected drop in crude oil supplies. More>>

Criminal charge recommended against ousted Thai PM

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An anti-corruption body on Thursday recommended criminal charges against Thailand's ousted prime minister over her government's rice subsidy program, which cost the country's billions of dollars. More>>

Stocks edge lower in early trading; Mattel sinks

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By The Associated Press Stocks are opening slightly lower following mixed news about the economy and the latest batch of corporate earnings. More>>

Philip Morris Int'l 2Q profit falls 13 percent

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Philip Morris International's second-quarter profit declined 13 percent, stung by foreign exchange rates for the U.S. dollar. More>>

US home construction drops 9.3 percent in June

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U.S. home construction fell in June to the slowest pace in nine months, a setback to hopes that housing is regaining momentum and will boost economic growth this year. More>>

Putin: US sanctions hurt bilateral ties, US firms

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President Vladimir Putin on Thursday lamented the latest round of U.S. sanctions against Russia, saying they will stalemate bilateral relations and hurt not only Russian but also American businesses. More>>

Microsoft to cut up to 18,000 jobs over next year Video included

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Microsoft says it will eliminate up to 18,000 jobs over the next year as it works on integrating the Nokia devices business it bought in April. More>>

Turkey cuts rates again as volatility eases

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Turkey's central bank has cut its main interest rate by a further half percentage point as it continues to lower borrowing rates following a big increase earlier this year to support the country's currency. More>>

Australia repeals maligned 2-year-old carbon tax

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Australia's government repealed a much-maligned carbon tax on the nation's worst greenhouse gas polluters on Thursday, ending years of contention over a measure that became political poison for the lawmakers who... More>>

Japan wary as US, Europe up sanctions on Russia

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For Japan, the ramping up of sanctions by the West against Russia can be summed up in a familiar phrase: It's complicated. More>>

Senate panel examining role of GM legal department

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A Senate panel will pose questions to a new set of key players Thursday as it delves deeper into General Motors' delayed recall of millions of small cars. More>>

Nissan CEO: Japan female bosses goal too ambitious

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Nissan's chief executive, who has long made a point of promoting women to management positions, said the Japanese prime minister's plan to boost female bosses to 30 percent by 2020 is too ambitious. More>>

Novartis cites momentum in 3 percent profit rise

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Swiss pharmaceutical company Novartis AG posted a 3 percent rise in second-quarter profits Thursday, reflecting what it described as solid growth and an increased focus on core products. More>>

Chrysler: Recall can be done faster than expected

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Chrysler can fix recalled Jeep SUVs far faster than U.S. safety regulators have predicted, the automaker told the government Wednesday. More>>

Obama on a high wire on immigration law changes

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Democratic opposition increased Wednesday to legal changes that would speed removals of young Central American migrants, jeopardizing President Barack Obama's call for $3.7 billion in emergency border spending to deal... More>>

US, Europe escalate economic sanctions on Russia

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Struggling to defuse the persistent crisis in Ukraine, both the U.S. and European Union imposed new economic sanctions on Russia Wednesday, with President Barack Obama declaring that Russian leaders must see that their... More>>

Ex-prosecutor asks for pardon in fatal GM crash

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A former Texas prosecutor has asked the state to pardon a woman who pleaded guilty in a 2004 car crash that killed her fiance, saying she now believes the accident was caused by a faulty General Motors ignition switch. More>>

What happens to your online accounts when you die?

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You've probably decided who gets the house or that family heirloom up in the attic when you die. But what about your email account and all those photos stored online? More>>

Bitcoin 'mining pool' promises to stay small

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The largest group of bitcoin miners, which maintains and processes transactions in the digital currency, is promising to avoid majority control of the currency as a temporary measure to maintain the payment system's... More>>

Yahoo 2Q earnings, revenue fall amid ad slump

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Yahoo Inc. said Tuesday that its second-quarter earnings and revenue declined, as the company struggled again with display advertising sales. More>>

Feds seek to air consumer finance complaints

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The Consumer Financial Protection Bureau has heard from hundreds of thousands of consumers who feel wronged by banks and finance companies. Now the agency wants the public to hear from those consumers too. More>>

Chinese woman in trade secrets case seeks release

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A woman from China awaiting trial in Iowa on charges she conspired to steal trade secrets from U.S. seed corn companies is asking the government to release her on bond so she can travel to California and to her homeland. More>>

Liberals assessing 2016 race as Clinton weighs bid

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Massachusetts Sen. Elizabeth Warren told a group of young Democrats Wednesday that the political system was "rigged" by powerful lobbyists and the wealthy and made an impassioned case for reducing burdensome student loans.... More>>

US stocks close higher; Time Warner soars

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By ALEX VEIGA AP Business Writer Major stock indexes rebounded Wednesday, finishing higher for the third time in four days and lifting the Dow Jones industrial average to its second record close this month. More>>

Latest Fed survey sees improved economy

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The economy kept expanding in all regions of the country in June and early July, helped by strength in consumer spending, a Federal Reserve survey released Wednesday indicates. More>>

Oil price rises on inventory draw, China growth

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By The Associated Press Oil prices rose Wednesday on a large drain in U.S. oil inventories and a slight improvement in economic growth in China. More>>

US stocks close higher; Time Warner soars

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Stocks are closing higher following strong earnings results and deal news from big U.S. companies. More>>

Daimler launches new version of tiny Smart car

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Germany's Daimler AG unveiled a new version of its tiny, two-seat Smart model Wednesday in hopes the car won't just get admiring glances with its unusual design - but make a bigger contribution to profits as well. More>>

Make room Juan Valdez: Starbucks opens in Colombia

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Make room Juan Valdez, it's time to meet the green-aproned barista. More>>

Locally-grown foods look to bigger business

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Once a niche business, locally grown foods aren't just for farmers markets anymore. More>>

Bank of America takes $4 billion litigation hit

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Bank of America said Wednesday that its second-quarter earnings were hit by higher litigation expenses. More>>

VW passes GM in global auto sales race

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Volkswagen bumped General Motors out of second place in the global auto sales race during the first half of the year, but Toyota is expected to stay in first place. More>>

Yellen rejects move to set up formula for Fed

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Federal Reserve Chair Janet Yellen said Wednesday it would be a serious mistake for Congress to require the nation's central bank to adopt a formal policy rule to guide its decisions on setting interest rates. More>>

Airbus A380s tested over air leak problems

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Airbus has advised airlines to test noisy doors on the world's largest passenger airliner, the A380, after identifying a problem with the door seal that could lead to a fall in the cabin pressure. More>>

F-35's no-show at Farnborough disappoints

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The failure of the Joint Strike Fighter to travel to England this week for a premier air show heaped further embarrassment on its developers as they try to convince skeptics that the $400 billion program was a price worth... More>>

BMW recalls 1.6M 3-Series cars for air bag problem

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BMW is expanding a recall of its most popular models to fix an air bag problem that is hitting much of the global auto industry. More>>

Pets' amenities rising trend for homebuilders

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These homes are set apart by their amenities - for dogs. More>>

US stocks move higher; Time Warner soars

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Stocks are moving higher following strong earnings results from big U.S. companies. More>>

INSIDE WASHINGTON: Bogus cash pays for roads

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If there's anything that can unite Democrats and Republicans in the partisan swamp of Capitol Hill, it's free money. More>>

Hewlett-Packard Interim Chairman Whitworth resigns

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Hewlett-Packard's interim chairman, Ralph Whitworth, has resigned from the company's board to concentrate on personal health issues. More>>

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