Business & economy news - WSPA.com

Congress votes final passage on highway bill

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Congress gave final approval Thursday to a $10.8 billion bill to keep federal highway funds flowing to states through the summer construction season and the fall elections. More>>

$1,000 Sovaldi now hepatitis treatment of choice

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The price is sky-high, but so is demand. A new $1,000-per-pill drug has become the treatment of choice for Americans with hepatitis C, a liver-wasting disease that affects more than 3 million. More>>

Default fuels uncertainty, stock drop in Argentina

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Argentina entered economic limbo Thursday, forced into a default that could undermine an already frail economy if a dispute with U.S. creditors is not resolved soon. More>>

Candidate goes homeless to show economic gap

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The Republican candidate for California governor said Thursday he spent a week living as a homeless person in Fresno to highlight the disparity between the governor's claim that the state is making an economic comeback... More>>

WTC steel company CEO arrested on fraud charges

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The Canadian owner of a company that won nearly $1 billion in contracts to provide steel for the construction of the World Trade Center's tallest building and a transit center was arrested Thursday on charges he... More>>

US warns against traveling to Ebola-hit countries

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U.S. health officials on Thursday warned Americans not to travel to the three West African countries hit by an outbreak of Ebola. More>>

Tesla posts 2Q loss, prepares Nevada factory site

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Electric car maker Tesla Motors widened its loss in the second quarter as it prepared for the launch of a new SUV and started work on a massive new battery plant. More>>

Dow plunges as multiple worries vex investors

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For stock investors, the red flags were everywhere on Thursday. More>>

Facebook's Internet.org expands in Zambia

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Facebook's Internet.org project is taking another step toward its goal of bringing the Internet to people who are not yet online, launching an app Thursday in Zambia. More>>

Christie defends record in 2nd summer stop in NH

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Promising to visit New Hampshire often, New Jersey Gov. Chris Christie on Thursday defended his economic record against Democratic attacks while courting voters in the first-in-the-nation presidential primary state for the... More>>

In San Francisco real estate, $1M won't buy much

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San Francisco Association of Realtors President Betty Taisch has two words of advice for those who want to live here and think $1 million will buy them their dream house: Think again. More>>

$100 million for firm without offices, 1 agent?

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Companies overseeing millions of mortgage loans appear to be skirting new federal regulations and legal settlements intended to stop them profiteering at the expense of troubled homeowners. More>>

Investigators reach Ukraine jet wreckage site

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As mortar fire landed nearby, an international team of investigators finally reached the Malaysia Airlines Flight 17 wreckage site Thursday and got their first look at a scene experts fear has been badly compromised in the... More>>

NY Fed: Puerto Rico should seek economic reforms

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New York's Federal Reserve Bank warned on Thursday that Puerto Rico needs to improve its financial health soon or face a "painful adjustment." More>>

Debit overdraft fees often exceed cost of purchase

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The fees that banks charge debit-card users who overdraw their accounts usually cost more than the items being bought. More>>

US stocks plunge, wiping out July's gains

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U.S. stocks had their worst one-day drop since February as traders worried about weak corporate earnings and the looming end of economic stimulus from the Federal Reserve. More>>

Home owned by Trump holdout auctioned for $530,000

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By SAMANTHA HENRY Associated Press She once called Donald Trump "a maggot, a cockroach and a crumb." This week, he remembered her as "an impossible person." More>>

Twitter: Govt. requests for user data increased

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Twitter said government requests for user data grew sharply in the past six months as more countries asked for a greater amount of information about users. More>>

Target taps outsider as CEO for needed shakeup

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Target is bringing in an outsider as its CEO for the first time as the retailer fights to redefine itself to American shoppers. More>>

Obama order presses contractors to obey labor laws

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President Barack Obama moved Thursday to require federal contractors to give their workers more rights in labor disputes, putting his pen to an executive order the day after the House voted to sue him for allegedly... More>>

US stocks plunge, wiping out July's gains

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U.S. stocks are plunging, putting the market on track for its first monthly loss since January. More>>

Kellogg's sales hurt as dieters drop Special K

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Kellogg's cereal sales are struggling, in part because Special K is falling out of fashion with dieters. More>>

FDA approves Boehringer's once-a-day inhaler drug

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The Food and Drug Administration has approved a new long-acting inhaler drug from Boehringer Ingelheim to treat people with chronic lung disease. More>>

Iliad of France makes surprise bid for T-Mobile US

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T-Mobile US Inc., the most eligible company in the U.S. wireless industry, has another suitor on its hands. Upstart French telecom company Iliad SA on Thursday said it has offered $15 billion for a majority stake. More>>

Exxon profit surges, but production slips

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Exxon Mobil's net income rose 28 percent in the second quarter on a sale of Asian assets and higher oil prices, but oil and gas production slipped a disappointing 6 percent. More>>

Wisconsin Supreme Court upholds 2011 union law

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The fight over Wisconsin Gov. Scott Walker's signature policy achievement, a law effectively ending collective bargaining for most public employees, ended Thursday with the state Supreme Court declaring it to be... More>>

Irish bookmaker apologizes for 2010 data breach

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Irish betting company Paddy Power announced Thursday it is notifying hundreds of thousands of customers that most of their profile information was stolen in 2010, but hackers did not gain their credit card details or... More>>

EU identifies 5 Russian banks it is sanctioning

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The European Union on Thursday revealed the details of its broad economic sanctions against Russia, including the names of five major banks which will see their access to the 28-nation bloc's capital market curtailed. More>>

Journal Communications, Scripps Co. announce deal

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Journal Communications Inc. of Milwaukee and E.W. Scripps Co. of Cincinnati have agreed to combine their broadcasting operations while spinning off newspaper holdings into a separate public entity. More>>

AP Analysis: Putin cornered over Ukraine

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For Russian President Vladimir Putin, there are few options left in the Ukraine crisis and they all look bad. More>>

Weak earnings sink US stocks; Whole Foods slides

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U.S. stocks are sharply lower following weak corporate earnings. Exxon Mobil and Whole Foods slumped. More>>

Ailing Portuguese bank's shares sink after losses

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The woes of troubled Portuguese bank Banco Espirito Santo deepened Thursday as its share price plunged on the Lisbon stock exchange, a day after it reported a record half-year loss of 3.58 billion euros ($4.8 billion). More>>

Eni profits rise due to renegotiated gas contracts

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Italian oil and gas company Eni says its second quarter earnings more than doubled thanks to its successful renegotiation of long-term gas supply contracts. More>>

Average US 30-year mortgage rate at 4.12 percent

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Average U.S. mortgage rates declined slightly this week, hovering near their lows for the year. More>>

Microsoft spreads Cortana abroad in Windows Phone

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Microsoft is spreading its Cortana digital assistant abroad, starting with China and the U.K. More>>

Amazon to invest $2 bln to expand in India

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The world's largest online retailer is facing off in India against a new name in e-commerce that was founded by former Amazon employees. More>>

US stocks open lower; Yum Brands sinks

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Stocks are opening lower as investors react to more disappointing earnings from companies. More>>

Eurozone inflation down again but ECB seen on hold

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The inflation rate in the 18-nation eurozone dropped again in July, official data showed Thursday, in a worrying sign that adds pressure on the European Central Bank to beef up its efforts to spur the economy. More>>

US jobless aid applications rise to 302,000

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More people sought U.S. unemployment benefits last week, but jobless claims remain at pre-recession levels. More>>

MasterCard 2Q profit rises on volume growth

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MasterCard's second-quarter net income climbed 9.8 percent as it benefited from volume growth and handled more transactions in the period. More>>

Russia tensions hurting European companies

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Russia's standoff with the West is hurting European companies, from heavy industry to sports goods makers, even before the latest sanctions have a chance to take effect. More>>

Russia ordered to pay another $2.5 bln for Yukos

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The European Court of Human Rights on Thursday ordered Russia to pay out another 1.9 billion euros ($2.5 billion) to a group of shareholders of Yukos, the oil company the government dismantled over a decade ago. More>>

As US economy accelerates, Fed remains cautious

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After a grim start to 2014, the U.S. economy has rebounded with vigor and should show renewed strength into next year. More>>

Despite good news, benefit programs face problems

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Despite some good news, Medicare and Social Security still face long-term financial problems as millions of baby boomers reach retirement. Social Security's disability program is already in crisis as it edges toward... More>>

Volkswagen 2nd quarter profit up but revenue slips

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Germany's Volkswagen, Europe's biggest automaker, says its net income rose 14.1 percent in the second quarter although revenues slipped even as unit sales pushed higher. More>>

Samsung earns $6.1 billion, shares plunge

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Samsung earned $6.1 billion last quarter but investors were dissatisfied, sending its share price down 4 percent. The panoply of numbers in its earnings report for the April-June quarter show why. More>>

Adidas issues profit warning on Russia risks

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Sports equipment maker Adidas lowered its full-year profit target on Thursday, citing among other things increasing risk in the Russian market amid mounting political tensions over Ukraine. More>>

Fast food ambitions in China hurt by safety scares

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Already China's biggest restaurant operator with 4,600 outlets, KFC is pursuing Chinese consumers so avidly it opens two more every day. More>>

Swiss central bank reports $17.7B half-year profit

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Switzerland's central bank posted a profit Thursday of 16.1 billion Swiss francs ($17.7 billion) for the first half of the year, a big turnaround from its loss of 9 billion francs for 2013. More>>

Alcatel loss narrows in 2Q but revenue stagnates

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Telecommunications equipment company Alcatel-Lucent SA says its net loss narrowed in the second quarter thanks to lower accounting charges, while revenue stagnated and restructuring charges mounted. More>>

World Cup adds froth to German beer sales

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German beer sales rose by 4.4 percent in the year's first half, gaining froth from the beginning of the country's run to the soccer World Cup title. More>>

Sony surprises with first quarter profit

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Sony Corp. reported a surprise eightfold jump in quarterly profit Thursday as sales got a perk from a cheap yen and its bottom line was helped by gains from selling buildings and its stake in a video-game maker. More>>

Siemens earnings up 27 pct in April-June quarter

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Siemens says its net profit rose 27 percent in the April-June period after earnings a year earlier were weighed down by restructuring costs, though the strong euro hurt its revenue and new orders figures. More>>

AB InBev earnings rise, sees US improving

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Budweiser brewer AB InBev SA, the world's largest beer maker, says sales and underlying earnings grew in the second quarter, with 7.2 percent growth in Brazil, thanks in part to the World Cup, and it sees an improving... More>>

Sanofi 2nd quarter profit surges

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French drug maker Sanofi said Thursday its earnings soared in the second quarter thanks to lower accounting charges than a year earlier, and the company lifted it full-year profit forecast. More>>

Probe exposes flaws behind HealthCare.gov rollout

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Management failures by the Obama administration set the stage for computer woes that paralyzed the president's new health care program last fall, nonpartisan investigators said in a report released Wednesday. More>>

Twitter 2Q results soar, stock flies high

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The little blue bird is flying high. Stronger-than-expected financial results pushed Twitter's stock sharply higher on Tuesday after the short messaging service said its revenue more than doubled in the second quarter. More>>

5 food writers subpoenaed in 'pink slime' lawsuit

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Several food writers, including a New York Times reporter, have been subpoenaed by a meat producer as part of its $1.2 billion defamation lawsuit against ABC in regards to the network's coverage of a beef product... More>>

Shell profit up on higher oil prices

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Royal Dutch Shell PLC, Europe's largest oil company, says second quarter earnings rose on higher production and higher selling prices for oil, and fewer one-time charges. More>>

Kansas congressman hit by farmers' backlash

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Eleven biofuel plants dot the vast expanse of western and central Kansas, where farm fields stretch to the horizon and corn and sorghum are the backbone of the rural economy. More>>

Asian markets drift after US Fed stays course

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Asian stock markets were uninspired by an upbeat report on the U.S. economy, with most drifting lower Thursday after the U.S. Federal Reserve said it would make further cuts to its monetary stimulus as expected. More>>

Samsung profit falls as smartphone sales slow

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Samsung Electronics Co. reported a bigger-than-expected fall in second quarter profit on Thursday and said it was uncertain if earnings from its handset business would improve in the current quarter. More>>

KFC owner says China scandal hurting sales

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The owner of the KFC and Pizza Hut restaurant chains said Thursday a food safety scandal in China has hurt sales and might be severe enough to cut into the company's global profit. More>>

Argentina heads into default as debt talks fail

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Talks aimed at averting Argentina's second default in 13 years ended with bitter recriminations Wednesday as the South American country said it could not accept a deal with U.S. hedge fund creditors it dismisses as... More>>

Whole Foods plans major marketing push

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Whole Foods is getting ready to launch its first national marketing campaign and expand home delivery as it looks to fend off bigger players muscling into the organic and natural foods category. More>>

AP PHOTOS: Coal-exporting town fights rising seas

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Norfolk is trapped between the causes and consequences of global warming. More>>

Corning donates $1.8M in parts for space telescope

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Corning Inc. has donated $1.8 million in high-tech components for a telescope a private group wants to launch into space. More>>

Report: More acidic seawater poses risks in Alaska

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The release of carbon dioxide into the air from power plant smokestacks to the tailpipe on your car could pose a risk to red king crab and other lucrative fisheries in Alaska, a new report says. More>>

Sanctions will damage Russia if not lifted quickly Video included

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U.S. and European sanctions against Russia's energy and finance sectors are strong enough to cause deep, long-lasting damage within months unless Moscow persuades the West to repeal them by withdrawing support for... More>>

Judge says Crystal CEO should testify in lawsuit

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American Crystal Sugar Co. CEO David Berg should testify in a federal lawsuit pitting the refined sugar manufacturers against the corn syrup industry, a federal judge ruled Wednesday after presiding over a hearing in the... More>>

Bank scandal tarnishes powerful Portuguese family

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Portugal's Espirito Santo family business survived wars, dictatorship, revolution and family feuds for almost 150 years. Now, one of Europe's last banking dynasties is being stripped of its wealth and influence... More>>

Terror threats at chemical plants underestimated

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The government is underestimating the threat of a chemical attack on America's densely populated cities and has failed to inspect virtually all of the chemical facilities that it considers particularly vulnerable to... More>>

Ratings agency: Argentina in 'selective default'

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Standard & Poor's says some Argentine bonds are in 'selective default' in what could be the start of a wave of downgrades amid a standoff between the South American country and some creditors. More>>

Fed offers a dual message on health of US economy

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The Federal Reserve offered a mixed message on the U.S. economy Wednesday: Growth is strengthening, and the unemployment rate is steadily falling. Yet by some measures, the job market remains subpar. More>>

Portland OKs Airbnb-type short-term rentals

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The Portland City Council voted Wednesday to legalize short-term rentals in single-family homes, giving added legitimacy to rental websites such as Airbnb. More>>

How Asana hopes to purge the scourge of email

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By The Associated Press Associated Press Asana is a service created to minimize the need for workplace email by serving as a one-stop shop for assigning work, sharing ideas, posting important updates and... More>>

OKCupid, Facebook not alone in studying consumers

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Think you're in control? Think again. More>>

3 Putin allies among 8 hit with new EU sanctions

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The European Union targeted Russian President Vladimir Putin's inner circle for the first time Wednesday for the Kremlin's actions in Ukraine, subjecting three of his long-time associates to EU-wide asset freezes... More>>

GOP blocks tax hike on firms moving overseas

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Republican senators blocked an election-year bill Wednesday to limit tax breaks for U.S. companies that move operations overseas. More>>

Processing issue delays bar exam submissions

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Law school graduates sweated their way through the second and final day of their bar exams Wednesday, some relieved to see paper and pencil after running into a technical glitch that kept test takers in several states from... More>>

A look at the EU's new sanctions against Russia

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The European Union's sanctions against Russia are bound to inflict pain on the country's ailing economy. While still narrowly targeted, they come as a warning shot to convince Moscow to change its Ukraine policies... More>>

Stocks end mixed after Fed delivers no surprises

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U.S. stocks are closing mixed after the Federal Reserve said the economy was strengthening enough for the central bank to continue cutting its stimulus. More>>

Ex-IRS official called conservatives 'crazies

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A former IRS official at the center of the agency's tea party controversy referred to some right-wing Republicans as "crazies" and more in emails released Wednesday. A key GOP lawmaker says the remarks show that Lois... More>>

Argentines shrug off risk of default

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In 2001, it was ground zero for Argentina's financial earthquake. A neo-colonial architectural gem built long ago by the Bank of Boston, it became the focal point for angry mobs of protesters who stared down riot... More>>

Obama to GOP: 'Stop just hating all the time'

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Pointing the finger at Republicans for congressional inaction, President Barack Obama chided lawmakers Wednesday for spending the waning days before their month-long summer break trying to sue him rather than addressing... More>>

Dubai, European airlines divert flights over Iraq

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European airlines and a Dubai-based carrier are rerouting flights over Iraqi airspace as a security precaution amid fears that militants with the Islamic State group have weapons capable of shooting down planes, despite... More>>

Feds probing for fraud in DC building projects

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Federal investigators looking for fraud in the nation's capital are scrutinizing a program meant to give local contractors a share of major construction projects, people familiar with the probe have told The Associated... More>>

China investigating Microsoft in monopoly case

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China's anti-monopoly agency announced an investigation Tuesday of Microsoft Corp., stepping up regulatory pressure on foreign technology companies. More>>

Correction: Debt Study story

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In a story July 29 about consumer debt reported to collection agencies, The Associated Press erroneously indicated that 80 percent of Americans have no debt on file. The study released Tuesday by the Urban Institute found... More>>

Virus drugmaker fights pediatricians' new advice

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A costly drug given mostly to premature babies is at the center of a clash between the manufacturer and the nation's leading pediatrician's group, which recommends scaling back use of the medicine. More>>

Former IRS official called GOP 'crazies' in email

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A former IRS official at the heart of the agency's tea party controversy called Republicans "crazies" and more in newly released emails. More>>

Argentina officials stage 11th-hour talks in NYC

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Argentina's economy minister has resumed efforts to solve the South American nation's financial crisis without a default. More>>

Lawyer sues GM on behalf of 658 plaintiffs

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A Texas lawyer has filed a lawsuit against General Motors on behalf of 658 people who were injured or killed in crashes allegedly caused by faulty ignition switches. More>>

An early rally fades on the US stock market

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U.S. stocks are turning mostly lower in midday trading, erasing an early gain. More>>

Fiat 2Q profits drop by 55 percent

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Italian carmaker Fiat SpA, which controls Chrysler, on Wednesday said second-quarter profits dropped by more than a half due to lower performance in North and Latin America. More>>

Leaders of Spain, Catalonia hold secession talks

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The leader of the economically powerful Catalonia region held firm in a meeting with Spain's prime minister on Wednesday, saying he intends to push ahead with a secession referendum in November despite the central... More>>

Hyundai recalls 883K Sonatas to fix gear shifters

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Hyundai is recalling its popular Sonata midsize sedan to fix problems with the gear shift levers. More>>

Revised data: US grew faster in 2nd half of 2013

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Fueled by healthier consumer spending, the U.S. economy grew in the second half of last year at the strongest pace in a decade and more than previously estimated, new government data show. More>>

WellPoint 2Q tops Wall Street expectations

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WellPoint's second-quarter profit fell 8.6 percent as expenses tied to changes in the nation's health care laws climbed. More>>

German central bank chief: higher wages justified

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The head of Germany's central bank says higher wages would be justified in the country as the economy flourishes and inflation sags, and is putting the potential for raises at 3 percent. More>>

No2 Irish bank profitable for 1st time since 2008

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Ireland's second-largest bank, Allied Irish Banks, has returned to profit for the first time since a 2008 property crash pushed the nation to the brink of bankruptcy. More>>

Strong earnings news, US growth lift stocks

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U.S. stocks are opening higher after several companies reported better earnings than investors were expecting. More>>

Survey: US companies add 218,000 jobs in July

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A private survey shows that businesses hired at a healthy pace in July, though the job gains slowed from the previous month. More>>

As Fed meets, key issues likely to stay unanswered

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The Federal Reserve will likely end a policy meeting Wednesday with a lot of questions unanswered: More>>

US economy likely showed big rebound last quarter

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After a dismal start to the year reflecting a harsh winter, the U.S. economy showed signs of rebounding in the spring, with many forecasters expecting growth to be even stronger in the second half of the year. More>>

The man responsible for Hilton's grand turnaround

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Nearly every weekend, Chris Nassetta is cooking in his family's oversized kitchen, outfitted with two commercial-grade refrigerators, three sinks and a deep fryer. More>>

Barclays chief applauds claw-back idea on bonuses

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The CEO of Barclays said having provisions to claw back bankers' bonuses, as outlined by regulators on Wednesday, is a good idea in principle. More>>

Britain to test driverless cars next year

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British officials says driverless cars will be tested on roads in as many as three cities in a trial program to begin in January More>>

Airbus expects stable revenue despite order loss

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European aerospace company Airbus says it expects its revenue to remain stable this year despite a big cancellation recently for some of its large A350 planes. More>>

Spain economic growth at fastest pace since 2007

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Spain's economy grew by a better-than-expected 0.6 percent in the second quarter compared with the previous three months, the fastest rate since 2007 and more evidence of the country's recovery from recession. More>>

Senate tires of patching highway programs

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The Senate delivered an unexpectedly strong vote Tuesday in favor of taking action later this year to resolve the chronic funding problems that have bedeviled highway and transit programs, a sign that Congress may have... More>>

West seeks to inflict more economic pain on Russia Video included

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Citing Russia's stalled growth rate and a flow of foreign capital out of Moscow, U.S. and European officials hope a new round of sanctions targeting energy and defense entities, as well as major banks, will deepen... More>>

Argentina, US bondholders meet as deadline looms

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Argentina's economy minister emerged from daylong negotiations aimed at preventing a default Tuesday to say both sides had finally spoken for the first time, a development that raised hopes that a deal might be reached... More>>

Small cars fare poorly in crash tests

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The four-door Mini Cooper Countryman was the only one of 12 cars to earn a top rating of "good" in new frontal crash tests. More>>

PG&E charged with obstruction over San Bruno blast

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A federal grand jury charged Pacific Gas & Electric on Tuesday with lying to federal investigators in connection with a fatal pipeline explosion that killed eight people and leveled a suburban Northern California... More>>

Toyota remains at top in sales after first half

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Toyota remains No. 1 in global vehicles sales after the first six months of this year, followed by Volkswagen which bumped General Motors out of second place as the U.S. automaker grapples with a recall scandal. More>>

Senate passes highway bill, sends it back to House

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The Senate voted Tuesday to keep federal highway money flowing to the states into December but only after rejecting the House's reliance on what lawmakers called a funding "gimmick" and moving to force a post-election... More>>

American Express 2Q profit rises 9 percent

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By ALEX VEIGA AP Business Writer American Express Co.'s net income grew 9 percent in the second quarter, as spending by cardholders increased and the credit card issuer set aside less money to cover... More>>

US, Europe impose tough new sanctions on Russia Video included

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Spurred to action by the downing of the Malaysian airliner, the European Union approved dramatically tougher economic sanctions Tuesday against Russia, including an arms embargo and restrictions on state-owned banks.... More>>

Clean-air rules assailed as too much, too little

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Hundreds of people across the country lined up Tuesday to tell the Environmental Protection Agency that its new rules for power-plant pollution either go too far or not far enough. More>>

US bars Kurdish oil from entering Texas port

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The U.S. has barred a shipment of Kurdish crude oil from reaching the Texas coast amid concerns independent oil sales from Kurdistan could further weaken Iraq's fragile central government as it struggles to contain a... More>>

Stocks close lower ahead of economic reports

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The stock market is ending with a modest loss as investors wait for a series of big economic reports later in the week. More>>

Argentina fights with debt holdouts; default nears

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Argentina risks financial default unless it reaches an agreement with a group of holdout bondholders by Wednesday. Here are the issues at stake: More>>

Pfizer's 2Q profit sinks 79 pct but tops forecasts

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By LINDA A. JOHNSON AP Business Writer Pfizer's second-quarter earnings plunged 79 percent from last year, when the world's second-largest drugmaker booked a $10 billion-plus gain from a business... More>>

UBS sees profits rise, probed over trading system

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Switzerland's biggest bank, UBS, reported Tuesday a 15 percent rise in second-quarter profit, driven by its core wealth management business, and disclosed it was part of a group of financial companies being... More>>

London's iconic Gherkin building put up for sale

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One of London's most recognizable office buildings has been put up for sale. More>>

Cellphone unlocking set to become legal again

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Congress passed a bill Friday that makes it legal to "unlock" cellphones so the devices can -at least in some instances- be used on other carriers. More>>

Lyft says it's starting New York City service

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The on-demand ride-sharing app Lyft planned to start limited service in New York City on Friday night after reaching agreement with officials to resolve regulatory issues that prompted a lawsuit by the state. More>>

EU antitrust body clears Apple's $3bn Beats deal

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The European Union's antitrust authority has cleared Apple's $3 billion deal to buy Beats Electronics, which makes headphones and offers music streaming services. More>>

Fed is weighing key issues but may reveal little

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This much is clear: The Federal Reserve will make another cut this week in its monthly bond purchases, which have been aimed at keeping long-term loan rates low. More>>

Aetna 2Q profit rises 2.4 percent

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By TOM MURPHY AP Business Writer Aetna's second-quarter profit climbed more than 2 percent, as gains from an acquisition helped the health insurer top expectations and raise its 2014 earnings forecast... More>>

Merck 2Q profit more than doubles

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By LINDA A. JOHNSON AP Business Writer A big one-time gain and a tax benefit helped drugmaker Merck & Co. more than double second-quarter profit, improve its profit forecast and top analysts'... More>>

Jimmy Dean moves beyond breakfast for first time

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Jimmy Dean is coming to dinner - and lunch, too. More>>

US consumer confidence jumps to 90.9 in July

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U.S. consumers are more confident about the economy than they have been in nearly seven years. More>>

UPS 2Q profit drops, lowers outlook on spending

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UPS is willing to sacrifice some short-term profits to avoid a repeat of its failure last Christmas to deliver all packages on time. More>>

US home price gains slow for 6th straight month

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U.S. home prices rose in May from a year earlier at the weakest pace in 15 months as sales remain modest in the spring buying season. More>>

Reynolds American 2Q profit climbs 6.7 percent

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Reynolds American Inc. said Tuesday that its profit rose by 6.7 percent in its second quarter as higher cigarette and smokeless tobacco prices helped to offset a decline in the number of cigarettes it sold. More>>

US stocks inch higher ahead of economic reports

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The stock market is edging higher in early trading ahead of a string of U.S. and Chinese economic reports later this week. More>>

Suzuki recalls nearly 26,000 cars for fire risk

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Suzuki is recalling nearly 26,000 midsize cars in the U.S. because the daytime running light modules can overheat and could cause a fire. More>>

Waste Management selling subsidiary for $1.94B

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Waste Management is selling a subsidiary to Energy Capital Partners for $1.94 billion as part of its effort to focus on its core business. More>>

Reynolds American 2Q profit climbs 6.7 percent

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Reynolds American Inc. says its profit rose by 6.7 percent in its second quarter, topping analysts' expectations. More>>

Renault profits rise thanks to cost cuts

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French carmaker Renault says its profits in the first half of the year rose, partly thanks to lower costs as its revenue dropped. More>>

BP warns of impact of Russia sanctions on profits

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Energy company BP warned Tuesday that further international sanctions on Russia could hurt its profits because of its stake in the country's oil giant, Rosneft. More>>

Deutsche Bank posts 29 percent drop in profit

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Deutsche Bank AG posted a 29 percent drop in second-quarter net profit Tuesday, hit by higher taxes, declining revenue and political instability affecting financial markets. More>>

Senate Democrats seek to split GOP on export bank

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Familiar with the Export-Import Bank? In all likelihood, most voters in Louisiana and Virginia aren't either. More>>

Honda's quarterly profit up on Asian sales growth

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Honda's quarterly profit surged nearly 20 percent on demand for remodeled cars in Japan and elsewhere in Asia. The Japanese automaker also raised its full-year profit and sales forecasts. More>>

Asia stocks rise modestly ahead of US, China data

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Asian stock markets posted modest gains Tuesday as investors treaded cautiously ahead of U.S. and Chinese economic reports later this week. More>>

Darden CEO to step down amid Olive Garden troubles

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Darden Restaurants CEO and Chairman Clarence Otis is stepping down as the company fights to fix its flagship Olive Garden chain following its contested sale of Red Lobster. More>>

Rule aims to help clear air around Grand Canyon

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The largest coal-fired power plant in the West will produce one-third less energy by 2020 and could close in 2044 under a proposal that the federal government adopted to cut haze-causing emissions of nitrogen oxide at... More>>

FAA proposes to fine Southwest Airlines $12M

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The Federal Aviation Administration said Monday it is proposing a $12 million civil fine against Southwest Airlines for failing to comply with safety regulations related to repairs on Boeing 737 jetliners. More>>

Clarification: Fast Food Workers-Convention story

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In a story July 26, The Associated Press reported that Latoya Caldwell, a mother of four from Kansas City, Missouri, who earns $7.50 an hour at a Wendy's restaurant, said she works six days a week to get 40 hours and... More>>

Medicare's own health looking better, report says

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Medicare's financial future is looking brighter despite a growing wave of baby boomers reaching retirement. More>>

House bill lets airlines advertise pre-tax fares

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In a victory for airlines and their workers' unions, the House rejected consumers' complaints and easily passed legislation Monday letting airline advertising emphasize the base price of tickets, before taxes and... More>>

Stocks end little changed ahead of earnings rush

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U.S. stocks are ending little changed as traders wait for key economic and earnings reports later this week. More>>

Russia ordered to pay $50 billion over Yukos

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Russian President Vladimir Putin's government must pay $50 billion for using tax claims to destroy Yukos, once the country's largest oil producer, and its Kremlin-critical CEO, an international court has ruled. More>>

Dollar Tree steps up fight, buys Family Dollar

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The fight for penny pinchers is intensifying. More>>

Lloyds bank settles with US, UK over market fixing

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Lloyds Banking Group is paying $369 million to U.S. and British authorities to settle allegations it manipulated a key global interest rate. More>>

A look at how Dollar Tree, Family Dollar differ

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Dollar Tree is stepping up its fight for penny-pinching customers. On Monday, the discounter said it would acquire rival discounter Family Dollar for $8.5 billion, making it the biggest player in the dollar store category.... More>>

Red Lobster goes vertical on plate to push quality

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Red Lobster wants to be seen as a purveyor of quality seafood, so it's getting rid of some of its promotional discounts and stacking the food higher on plates, as is the style at fancier restaurants. More>>

US stocks fall at midday on cooling home sales

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U.S. stocks are slightly lower in midday trading after a report of sluggish sales in the housing market. More>>

Amazon shares fall on 2Q loss

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Shares of Amazon.com Inc. fell Thursday after the e-commerce retailer reported a deeper-than-expected second quarter loss as expenses outpaced a surge in revenue. More>>

New Spain king moves to clean up palace's image

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Spain's royal palace accounts will be subject to external audits and the results made public under a series of measure ordered by new King Felipe VI in an apparent bid to clean up the royal family's tarnished image. More>>

Virgin America files plans for IPO

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Virgin America's next destination is Wall Street. More>>

Contracts to buy US homes slip in June

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Fewer Americans signed contracts to buy homes in June, as the real estate market appears to have cooled off this summer. More>>

Zillow buying Trulia to make real estate titan

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Real estate website operator Zillow is buying rival Trulia in a $3.5 billion deal that would make the biggest player in the online real estate market. More>>

German court receives suit against EU bank union

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A group of German professors has filed a complaint to the country's highest court against the European Union's plans to create a so-called banking union, a central part of the effort to make the continent's... More>>

RPM Intl agrees to $797.5M deal on asbestos claims

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RPM International plans to spend nearly $800 million as part of a preliminary deal to fund a trust that resolves asbestos personal injury claims tied to a business owned by its Specialty Products Holding Corp. More>>

US stocks open mixed on Wall Street

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The stock market is opening mixed at the start of a busy week as a batch of merger announcements lift shares in Family Dollar and other companies. More>>

Tyson to sell Mexico, Brazil poultry operations

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Tyson Foods plans to sell its poultry businesses in Mexico and Brazil for $575 million in cash to help pay debt from its recently announced acquisition of Hillshire Brands. More>>

Britain reopens way for fracking

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Energy firms will be able to bid for licenses Monday to explore for shale gas in Britain, three years after the controversial fracking process caused seismic tremors which led the government to suspend operations. More>>

US companies increasingly fish for growth overseas

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Major U.S. companies are starting to reap their most rapid growth in fertile lands of opportunity far from home. More>>

Meat supplier: China unit fell short of standards

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A U.S. meat supplier said Monday a Chinese subsidiary embroiled in a safety scandal fell short of its requirements for maintaining high standards. More>>

Korean Air chief in line to lead Pyeongchang Games

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The South Korean businessman who led Pyeongchang's successful bid for the Winter Olympics is set to return as head of the organizing committee for the 2018 Games. More>>

Nissan profit rises on strong sales, cheap yen

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Nissan's quarterly profit rose nearly 37 percent, helped by a favorable exchange rate and healthy sales in North America and China. More>>

Study: Embargo wouldn't hurt Russia Video included

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An arms embargo against Russia would be little more than symbolic because Russia is largely self-sufficient in supplying its armed forces, a report argued Sunday. More>>

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