WHTM - Business - Headline

Chinese premier heads to India to boost ties

Sun, 19 May 2013 04:33:00 EDT

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

Pope leads pep rally at Vatican, meets with Merkel

Sat, 18 May 2013 19:33:00 EDT

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

Union leads march in Rome calling for job creation

Sat, 18 May 2013 12:52:00 EDT

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

Despite controversies, Obama agenda marches on

Sat, 18 May 2013 12:12:00 EDT

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

Politics, bribery charges swirl around Ugandan oil

Sat, 18 May 2013 11:22:00 EDT

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

Report: Yahoo nearing $1.1B acquisition of Tumblr

Fri, 17 May 2013 22:42:00 EDT

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

Caribbean talks conservation on Branson's island

Fri, 17 May 2013 19:32:00 EDT

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

Energy Dept. backs Texas LNG export plan

Fri, 17 May 2013 17:52:00 EDT

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

Stocks rise on hopeful signs for the US economy

Fri, 17 May 2013 17:44:00 EDT

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

CBO: Obama budget cuts deficits $1.1T by 2023

Fri, 17 May 2013 17:42:00 EDT

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

A year after IPO, Facebook aims to be ad colossus

Fri, 17 May 2013 17:34:00 EDT

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

Pew survey questions Gen X, baby boomer savings

Fri, 17 May 2013 17:02:00 EDT

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

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

Fri, 17 May 2013 17:02:00 EDT

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

Argentine dictator Videla dies in prison at age 87

Fri, 17 May 2013 16:42:00 EDT

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

Cyprus drops limits on 8 more foreign banks

Fri, 17 May 2013 16:13:00 EDT

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

On jobs trip, Obama tries to leave problems behind

Fri, 17 May 2013 16:12:00 EDT

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

Mexico cuts growth outlook from 3.5 to 3.1 percent

Fri, 17 May 2013 15:52:00 EDT

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

Brazil approves law to modernize ports

Fri, 17 May 2013 15:42:00 EDT

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

Syrian hackers compromise FT blog, Twitter feeds

Fri, 17 May 2013 14:52:00 EDT

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

Glance: Europe's Key Institutions

Fri, 17 May 2013 14:22:00 EDT

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

Correction: Drunken Driving-Zero Deaths story

Fri, 17 May 2013 13:53:00 EDT

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

Retirement tests if Beckham built lasting brand

Fri, 17 May 2013 13:52:00 EDT

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

Greece faces slow, jobless recovery next year

Fri, 17 May 2013 13:42:00 EDT

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

Italian Cabinet passes first economic measures

Fri, 17 May 2013 13:42:00 EDT

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

Unemployment falls in 40 US states, rises in 3

Fri, 17 May 2013 13:34:00 EDT

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

Bloomberg appoints ex-IBM CEO as privacy adviser

Fri, 17 May 2013 13:12:00 EDT

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

Fitch downgrades Slovenia amid banking concerns

Fri, 17 May 2013 13:02:00 EDT

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

World stocks strong into the weekend

Fri, 17 May 2013 12:42:00 EDT

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

Gauge of US economy's future health up in April

Fri, 17 May 2013 11:42:00 EDT

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

Rising consumer demands aids organic industry sway

Fri, 17 May 2013 11:41:00 EDT

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

Top officials call to overhaul euro institutions

Fri, 17 May 2013 11:32:00 EDT

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

Tableau Software soars in trading debut

Fri, 17 May 2013 11:12:00 EDT

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

EU to ban reusable olive oil bottles in eateries

Fri, 17 May 2013 11:12:00 EDT

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

Hints of political change on horizon in Algeria

Fri, 17 May 2013 11:02:00 EDT

The Arab Spring may finally be en route to Algeria.

IMF says Cyprus at risk of even deeper recession

Fri, 17 May 2013 10:51:00 EDT

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

Stocks edge higher in early trading on Wall Street

Fri, 17 May 2013 09:52:00 EDT

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

Czech, US cooperate in developing new reactors

Fri, 17 May 2013 09:51:00 EDT

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

4-month strike at PSA Peugeot Citroen plant ends

Fri, 17 May 2013 09:12:00 EDT

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

Oil gains to near $96 as investors eye US economy

Fri, 17 May 2013 07:51:00 EDT

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

Futures rebound ahead of Conference Board report

Fri, 17 May 2013 07:41:00 EDT

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

European car sales up for first time since 2011

Fri, 17 May 2013 07:21:00 EDT

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

Indian circuses struggle to adapt after court bans

Fri, 17 May 2013 05:11:00 EDT

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

Syria ex-minister leads rebuilding plan

Fri, 17 May 2013 02:22:00 EDT

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

Google challenger in Vietnam redirecting queries

Thu, 16 May 2013 23:41:00 EDT

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

Asia stocks mixed as holidays thin trade

Thu, 16 May 2013 23:21:00 EDT

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

House bill protects homeland security budget

Thu, 16 May 2013 20:31:00 EDT

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

Wal-Mart's 1Q profit, sales disappoint

Thu, 16 May 2013 19:41:00 EDT

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

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

Thu, 16 May 2013 19:41:00 EDT

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

Interior issues new drilling rule on public land

Thu, 16 May 2013 18:41:00 EDT

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

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

Thu, 16 May 2013 18:41:00 EDT

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

Ticketmaster settles rewards lawsuit for $23M

Thu, 16 May 2013 18:21:00 EDT

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

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

Thu, 16 May 2013 18:12:00 EDT

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

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

Thu, 16 May 2013 17:41:00 EDT

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

CFTC adopts weakened rule on derivatives trading

Thu, 16 May 2013 17:31:00 EDT

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

Second court invalidates Obama recess appointment

Thu, 16 May 2013 17:31:00 EDT

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

Canada PM on pipeline plan: Oil to come anyway

Thu, 16 May 2013 16:41:00 EDT

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

Venezuelans scrambling to find scarce toilet paper

Thu, 16 May 2013 16:41:00 EDT

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

Only 2 of 13 small SUVs do well in crash tests

Thu, 16 May 2013 16:31:00 EDT

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

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

Thu, 16 May 2013 16:21:00 EDT

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

Senate confirms physicist Moniz as energy chief

Thu, 16 May 2013 16:21:00 EDT

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

Puerto Rico faces lowest coffee production ever

Thu, 16 May 2013 16:11:00 EDT

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

Airlines losses narrowed in 1Q to $552 million

Thu, 16 May 2013 15:51:00 EDT

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

Oil reverses early losses, tops $95 a barrel

Thu, 16 May 2013 15:51:00 EDT

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

Puerto Rico faces lowest coffee production ever

Thu, 16 May 2013 15:51:00 EDT

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

Turkish PM talks Syria with Obama at White House

Thu, 16 May 2013 15:31:00 EDT

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

Senate panel considers labor board nominees

Thu, 16 May 2013 15:31:00 EDT

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

Sector Snap: Makers of computer networking gear

Thu, 16 May 2013 15:21:00 EDT

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

Deep divide in Congress over domestic food aid

Thu, 16 May 2013 14:51:00 EDT

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

Merkel, Hollande at odds over Europe's way forward

Thu, 16 May 2013 14:01:00 EDT

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

Trump goes to court to oppose Scotland wind farm

Thu, 16 May 2013 13:42:00 EDT

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

INFLUENCE GAME: Tech, labor spar on immigration

Thu, 16 May 2013 13:41:00 EDT

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

Greek strikes halt air travel

Thu, 16 May 2013 13:11:00 EDT

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

Global luxury goods sales slowing

Thu, 16 May 2013 12:41:00 EDT

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

Pope blasts "cult of money" that tyrannizes poor

Thu, 16 May 2013 12:31:00 EDT

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

Lawmakers accuse Google of dishonesty over taxes

Thu, 16 May 2013 12:11:00 EDT

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

Cisco leads the Dow higher after earnings beat

Thu, 16 May 2013 12:01:00 EDT

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

Apple says App Store hit 50 billion downloads

Thu, 16 May 2013 11:20:00 EDT

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

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

Thu, 16 May 2013 10:21:00 EDT

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

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

Thu, 16 May 2013 10:10:00 EDT

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

Weak open on Wall Street; Wal-Mart disappoints

Thu, 16 May 2013 10:01:00 EDT

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

Argentina brokers 24 pct wage hikes for millions

Thu, 16 May 2013 10:01:00 EDT

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

Senate panel backs Perez to head Labor Dept.

Thu, 16 May 2013 10:01:00 EDT

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

US consumer prices fall 0.4 pct. on cheaper gas

Thu, 16 May 2013 09:41:00 EDT

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

US consumer prices fall 0.4 pct. on cheaper gas

Thu, 16 May 2013 09:40:00 EDT

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

US jobless claims jump to highest level in 6 weeks

Thu, 16 May 2013 09:40:00 EDT

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

US housing starts fell in April but permits surged

Thu, 16 May 2013 09:40:00 EDT

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

Futures fluctuate on mixed signals from retail

Thu, 16 May 2013 09:30:00 EDT

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

US jobless claims jump to highest level in 6 weeks

Thu, 16 May 2013 09:30:00 EDT

US housing starts fell in April but permits surged

Thu, 16 May 2013 09:21:00 EDT

Cambodian shoe factory collapse kills 2, injures 7

Thu, 16 May 2013 09:10:00 EDT

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

Oil falls below $94 a barrel amid high supplies

Thu, 16 May 2013 09:00:00 EDT

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

Vietnam provider drops foreign news TV channels

Thu, 16 May 2013 07:00:00 EDT

A Vietnamese satellite TV company stopped airing international channels including BBC and CNN on Thursday, citing a law that foreign governments have warned would result in international news and entertainment channels...

UK campaign group loses challenge on tax deal

Thu, 16 May 2013 06:00:00 EDT

A U.K. pressure group Thursday lost its legal challenge to what it called a "sweetheart" tax deal between U.K. authorities and Goldman Sachs.

Japanese economy grew at 3.5 percent pace in 1Q

Thu, 16 May 2013 05:40:00 EDT

Japan's economy grew by a stronger-than-expected 3.5 percent in annual terms last quarter, giving Prime Minister Shinzo Abe a boost as his government tackles reforms needed to ensure a sustained recovery from two decades...

Polish exports of meat for Jews, Muslims in limbo

Thu, 16 May 2013 04:01:00 EDT

For some, it was a barbaric way to treat animals. For others, it was great business.

New Zealand's top court takes Kim Dotcom appeal

Thu, 16 May 2013 02:50:00 EDT

New Zealand's highest court ruled Thursday that it will hear an appeal by Megaupload founder Kim Dotcom and three colleagues as they seek to avoid extradition to the United States.

Slower Chinese growth adds to pressure on leaders

Thu, 16 May 2013 02:00:00 EDT

Global economic malaise has knocked the stuffing out of Luo Yan's business making toy animals.

House panel OKs farm bill with food stamp cuts

Thu, 16 May 2013 00:10:00 EDT

The House Agriculture Committee on Wednesday approved a sweeping farm bill that would trim the $80 billion-a-year food stamp program.

New Zealand to sell stake in 2nd power company

Thu, 16 May 2013 00:00:00 EDT

New Zealand will sell a minority stake in a second power company this year as part of a plan to balance its books.

Asia stocks mixed as Wall St. ignores euro gloom

Wed, 15 May 2013 23:10:00 EDT

Asian stock markets were mixed Thursday following dour European economic data that dampened hopes of a recovery there anytime soon. However, losses were limited by another record session on Wall Street.

Google's products dig deeper into people's lives

Wed, 15 May 2013 21:30:00 EDT

For Google CEO Larry Page, happiness is a warm computer.

Trade group slams safety pact for Bangladesh

Wed, 15 May 2013 21:10:00 EDT

The largest U.S. retail-industry group on Wednesday criticized an international pact aimed at improving factory conditions in Bangladesh's garment industry, saying it was a "one-size-fits-all" approach promoted by...

JPMorgan asks Bloomberg for privacy breach data

Wed, 15 May 2013 20:50:00 EDT

Lawyers for JPMorgan Chase & Co. are asking financial news and data company Bloomberg LP to turn over any records it has of reporters looking up the log-in and usage data of JPMorgan employees.

IRS commissioner ousted over tea party targeting

Wed, 15 May 2013 20:00:00 EDT

Hurrying to check a growing controversy, President Barack Obama ousted the acting commissioner of the Internal Revenue Service late Wednesday amid an outcry over revelations that the agency had improperly targeted tea party...

Google unveils maps, photo, music features

Wed, 15 May 2013 19:31:00 EDT

Google's sixth annual conference for software developers opened Wednesday with a chance for the company to showcase its latest services. Announcements included new features for online games, maps and search, a new...

Google boosts photo offerings to rival Facebook

Wed, 15 May 2013 19:30:00 EDT

Google is digging deeper into its technology toolkit to turn its social networking service into a more formidable threat to Facebook, sprucing up its photo features at a time when sharing snapshots online and on mobile...

Obama: IRS acting commissioner being ousted

Wed, 15 May 2013 19:10:00 EDT

President Barack Obama on Wednesday announced the ouster of the top official at the Internal Revenue Service following disclosures that the agency targeted conservative political groups.

Donald Trump completes testimony in Chicago trial

Wed, 15 May 2013 19:10:00 EDT

A scowling Donald Trump raised his voice on the witness stand Wednesday while an attorney grilled him and then rolled his eyes at the "Apprentice" star's answers, prompting a federal judge to scold both men in open court...

Macy's 1Q profit rises 20 pct on solid sales

Wed, 15 May 2013 18:31:00 EDT

Macy's Inc. reported a 20 percent increase in first-quarter profit even though cool temperatures and economic worries dampened some of its shoppers' spending on spring clothes.

Deere cuts 2013 sales growth guidance

Wed, 15 May 2013 18:31:00 EDT

Deere & Co. said on Wednesday that bad weather and weak economies will hinder sales growth this year for lawnmowers and construction equipment.

Stocks climb as traders shrug off economic reports

Wed, 15 May 2013 18:21:00 EDT

Investors nudged the stock market to all-time highs Wednesday despite a handful of disappointing economic reports.

Google's music plan part of fresh wave of upgrades

Wed, 15 May 2013 18:00:00 EDT

Google Inc. unveiled a streaming music service called All Access that blends songs users have already uploaded to their online libraries with millions of other tracks. Google made it available in the U.S. Wednesday for $8 a...

Protesters close Libyan oil terminal, halt exports

Wed, 15 May 2013 17:50:00 EDT

Protesters and disgruntled job seekers forced the closure of an eastern Libyan oil terminal on Wednesday for the second time in six months, disrupting exports, said an oil ministry official.

Cisco 3Q net income rises 14 percent

Wed, 15 May 2013 17:50:00 EDT

Cisco's net income jumped 14 percent in the latest quarter as revenue at all four of its divisions rose for the first time in a year and a half.

Family drama adds intrigue to Ill. governor's race

Wed, 15 May 2013 17:41:00 EDT

Politics has long been a family business in Illinois, a place where who you know - and who you're related to - matters more than most. But the family drama shaping up around the next governor's race adds a new layer...

Stock indexes shake off early slide, close higher

Wed, 15 May 2013 16:20:00 EDT

The stock market is closing higher after shaking off a morning slump.

House panel boosts veterans spending

Wed, 15 May 2013 15:30:00 EDT

With no broader budget deal in sight, a key House panel responsible for implementing sweeping cuts to agency budgets moved Wednesday to exempt veterans and largely protect spending on border safety and other homeland...

Longer US white majority if immigration slows

Wed, 15 May 2013 15:30:00 EDT

Without increased immigration, whites would lose their U.S. majority in 2046, three years beyond official projections, and the nation's population would not reach 400 million until after 2060, a decade or more later than...

Eurozone recession is now longest in currency bloc

Wed, 15 May 2013 15:20:00 EDT

The eurozone is now in its longest ever recession - a stubborn slump that has surpassed even the calamity that hit the region in the financial crisis of 2008-2009.

Oil back above $94 a barrel after early loss

Wed, 15 May 2013 15:10:00 EDT

The price of oil rose back above $94 Wednesday after dropping earlier on disappointing economic reports from Europe and the U.S.

Retiring boomers driving sales of small businesses

Wed, 15 May 2013 15:00:00 EDT

Baby boomers preparing for retirement are driving a surge in small business sales, as they find more and more buyers confident enough in the improving economy to expand their own businesses through acquisitions.

Holder: Potential civil rights violations at IRS

Wed, 15 May 2013 14:40:00 EDT

Attorney General Eric Holder says the FBI's criminal investigation of the Internal Revenue Service could include potential civil rights violations, false statements and potential violations of the Hatch Act, which...

US factory output falls 0.4 percent in April

Wed, 15 May 2013 14:20:00 EDT

U.S. manufacturers cut back on production in April, as auto companies cranked out fewer cars, factories made fewer consumer goods and most other industries reduced output. The weakness suggests economic growth may be slowing.

Amnesty for undeclared dollars divides Argentina

Wed, 15 May 2013 14:10:00 EDT

A plan to get Argentines to pull their undeclared U.S. dollars from under their mattresses and out of illegal tax havens, and deposit them in the banking system is eliciting warnings that it will turn the country into a...

Foreign holdings of US Treasury debt up in March

Wed, 15 May 2013 14:10:00 EDT

Foreign demand for U.S. Treasury securities rose to a record level in March, signaling further confidence in U.S. debt.

Eurozone's struggling economies mired in recession

Wed, 15 May 2013 14:10:00 EDT

By The Associated Press The eurozone is stuck in recession - its longest since the euro was founded in 1999. The latest figures from the European Union's statistics office show that the economy of the...

Bank of England sees 'modest, sustained' recovery

Wed, 15 May 2013 13:11:00 EDT

The Bank of England predicted a modest and sustained economic recovery for Britain on Wednesday, but tempered hope that the worst might be over with predictions that inflation will remain above its targets for the next two...

A look at EU investigation of oil price fixing

Wed, 15 May 2013 13:11:00 EDT

By PABLO GORONDI The Associated Press The European Union's executive arm, the Commission, on Tuesday said it had raided the offices of a number of oil industry companies for possible price-fixing.

Education woes seen as Achilles' heel of Brazil

Wed, 15 May 2013 13:10:00 EDT

There's a storage room just off a university lab that gives students more experience than many can handle: Skinned pigs and cats, disembodied cow livers, intestines, brains and the other unidentifiable detritus of...

Stock indexes recover from a morning slide

Wed, 15 May 2013 12:10:00 EDT

Stock prices are shaking off a morning slump and turning higher in midday trading on Wall Street.

Russians attempt to topple Google in Vietnam

Wed, 15 May 2013 11:50:00 EDT

Vietnam's booming Internet scene is littered with failed startups that tried to take on Google and other entrenched U.S web companies. That's not deterring a newly launched Russian-Vietnamese outfit which believes it...

Oil falls below $93 on Europe, US economic news

Wed, 15 May 2013 11:40:00 EDT

The price of oil fell below $93 on Wednesday after disappointing economic reports from Europe and the U.S.

US homebuilder confidence rises in May from April

Wed, 15 May 2013 11:40:00 EDT

By ALEX VEIGA AP Real Estate Writer Confidence among U.S. homebuilders rebounded this month, reflecting improved sales trends during the spring home-selling season and the strongest outlook for sales over...

Oil falls below $93 on Europe, US economic news

Wed, 15 May 2013 11:30:00 EDT

The price of oil fell below $93 on Wednesday after disappointing economic reports from Europe and the U.S.

Japan OKs $906 billion budget to revive economy

Wed, 15 May 2013 11:21:00 EDT

Japan's parliament has approved a record-high 92.6 trillion yen ($906.2 billion) budget for this fiscal year, raising military spending for the first time in 11 years and boosting public works outlays to help revive the...

HSBC to make up to $3 billion in new cuts

Wed, 15 May 2013 11:10:00 EDT

HSBC has announced it is seeking a further $2 billion-$3 billion in cost savings as it continues to trim its global empire - a move analysts say could cost more jobs.

US wholesale prices fall 0.7 pct., most in 3 years

Wed, 15 May 2013 11:00:00 EDT

Sharp drops in fuel and food costs reduced a measure of U.S. wholesale prices in April by the most in three years. Outside those volatile categories, inflation stayed tame.

EU: China may be dumping mobile network equipment

Wed, 15 May 2013 10:50:00 EDT

A senior EU official says China may be illegally dumping and subsidizing the import into Europe of mobile telephone networks and their essential elements. But Competition Commissioner Karel De Gucht says an official...

US explores new ways to press Iran on nuke program

Wed, 15 May 2013 10:19:00 EDT

The Obama administration is looking at new ways to pressure Iran over its nuclear program.

Stock prices ease as manufacturing softens

Wed, 15 May 2013 10:00:00 EDT

A report of slowing manufacturing in the Northeastern U.S. is getting the stock market off to weak start.

Futures dip as France slips into recession

Wed, 15 May 2013 09:00:00 EDT

Stock futures dipped Wednesday as another nation in Europe sank into recession and the economic contraction for the entire European Union stretched into its sixth straight quarter.

Swiss to crack down on business, sports bribery

Wed, 15 May 2013 07:19:00 EDT

The Swiss government wants to broaden its anti-corruption laws to make bribery a criminal offense in almost all cases.

Steelmaker ThyssenKrupp to cut 3,000 office jobs

Wed, 15 May 2013 05:07:00 EDT

Steel and elevator maker ThyssenKrupp says it will cut 3,000 of its 15,000 office jobs over the next three years to streamline the company's administration.

Allianz: Low rates to keep earnings under pressure

Wed, 15 May 2013 05:07:00 EDT

Low losses from natural disasters and higher prices in the key markets of Germany, Turkey and Latin America lifted profits at German insurance company Allianz SE during the first quarter.

German economy returns to modest growth

Wed, 15 May 2013 05:05:00 EDT

The German economy managed to avoid sinking into recession during an unusually cold first quarter, but only just, official figures showed Wednesday.

Projected lower deficit could slow any budget deal

Wed, 15 May 2013 05:00:00 EDT

The good news is the budget deficit for the current year is projected to come in well below what was estimated just a few months ago. The bad news for deficit hawks is that the development could further curb the already...

Asia stocks up as US small business mood improves

Tue, 14 May 2013 23:29:00 EDT

Enthusiasm on Wall Street sparked by another positive report on the U.S. economy helped push most Asian stock markets higher Wednesday.

Donald Trump testifies at Chicago trial

Tue, 14 May 2013 22:19:00 EDT

A sometimes prickly, sometimes boastful Donald Trump testified Tuesday at a civil trial where the developer-turned-TV personality is accused of using false promises to entice an 87-year-old investor into buying condos at his...

2013 deficit estimate lowered to $642 billion

Tue, 14 May 2013 20:19:00 EDT

The budget deficit for the current year is projected to come in well below what was estimated just a few months ago, a development that could further curb the already slowing momentum for a budget pact this year.

Chains grapple with how to improve safety

Tue, 14 May 2013 19:09:00 EDT

While several more global clothing chains on Tuesday were announcing that they agreed to a historic pact to improve factory conditions in Bangladesh, U.S. retailers were scrambling to come up with their own safety plans.

Stock market rises back into record territory

Tue, 14 May 2013 18:20:00 EDT

The stock market marched back into record territory Tuesday as investors seized on the latest encouraging news about the economy. This time, it was a report on the health of small businesses.

Jury sides with businessman in Vegas Sands lawsuit

Tue, 14 May 2013 17:50:00 EDT

A jury on Tuesday dealt another defeat to casino mogul and GOP mega-donor Sheldon Adelson in his nine-year fight with a Hong Kong businessman, awarding the former consultant $70 million for helping Las Vegas Sands Corp....

Google CEO discloses 'rare' vocal cord problem

Tue, 14 May 2013 17:49:00 EDT

Google CEO Larry Page has disclosed a problem with his vocal cords that makes it difficult for him to speak and breathe occasionally, but he says he remains fit enough to keep running the Internet's most influential...

RIM unveils cheaper BlackBerry

Tue, 14 May 2013 17:29:00 EDT

Research In Motion unveiled a lower-cost BlackBerry aimed at consumers in emerging markets on Tuesday, stepping up its efforts to regain market share lost to Apple's iPhone and Android devices powered by Google's...

Hedge fund boss Loeb lobbies for breakup of Sony

Tue, 14 May 2013 16:39:00 EDT

The U.S. hedge fund manager renowned for shaking up Yahoo Inc. has set his sights on Sony Corp., proposing that the Japanese electronics giant spin off up to 20 percent of its movie, TV and music division and use the money...

Senate panel approves massive farm bill

Tue, 14 May 2013 16:39:00 EDT

The Senate Agriculture Committee on Tuesday approved a massive five-year farm bill that would cut spending while also creating new subsidies for farmers.

Indexes close higher, led by small-company stocks

Tue, 14 May 2013 16:19:00 EDT

The stock market is back in record territory after an upturn in small-company stocks.

Kobe Bryant auction dispute headed for June trial

Tue, 14 May 2013 15:49:00 EDT

Kobe Bryant and an auction house that wants to sell memorabilia from his high school days and early pro career are heading for a trial next month, unless they can work out a deal before then.

TV-over-Internet service hits Atlanta next month

Tue, 14 May 2013 15:39:00 EDT

Aereo, the startup that offers live television broadcasts over the Internet starting at $8 a month, said it will start service in the Atlanta market on June 17, following an expansion to Boston on Wednesday.

Oil slides as IEA sees US output rising

Tue, 14 May 2013 15:09:00 EDT

The price of oil slid by nearly $1 a barrel Tuesday as the International Energy Agency raised its forecast for U.S. oil production while cutting its prediction for global crude demand.

Idaho spud giant bets on biotech potatoes

Tue, 14 May 2013 14:29:00 EDT

A dozen years after a customer revolt forced Monsanto to ditch its genetically engineered potato, an Idaho company aims to resurrect high-tech spuds.

Fitch upgrades Greece's credit rating

Tue, 14 May 2013 14:20:00 EDT

Debt-hobbled Greece got a new morale boost Tuesday, with Fitch ratings agency upgrading its sovereign credit grade, a day after the country's European creditors backed the release of a new rescue loan payment.

EU probes oil companies for possible price-fixing

Tue, 14 May 2013 14:20:00 EDT

European anti-trust authorities have launched investigations into at least three oil companies on suspicion of price-fixing.

Atty Gen orders probe into IRS targeting groups

Tue, 14 May 2013 14:19:00 EDT

Attorney General Eric Holder says he's ordered a Justice Department investigation into the Internal Revenue Service's targeting of conservative groups for extra tax scrutiny.

Dell raises intrigue by rescheduling 1Q report

Tue, 14 May 2013 14:09:00 EDT

Struggling personal computer maker Dell will report its latest quarterly earnings ahead of schedule in a move likely to spur speculation that the results will be dismal.

Swiss: 1,500 money-laundering cases last year

Tue, 14 May 2013 13:59:00 EDT

Unpaid fees lead to safe deposit caches of suspicious paintings and expensive jewelry. A foreign client's offshore deposits turn up possibly forged documents from the sale of tanks and high-caliber weapons to an African...

UK: Another editor at The Sun charged over bribery

Tue, 14 May 2013 13:50:00 EDT

Britain's prosecutors say that a politics and government editor with The Sun tabloid has been charged over a conspiracy to pay thousands of pounds (dollars) worth of bribes to a press officer working in the British...

Correction: Kenya-Sandal Animals story

Tue, 14 May 2013 13:49:00 EDT

In a story May 8 about artisans in Kenya who turn old sandals into art objects, The Associated Press included two paragraphs that closely paralleled the wording of an earlier story on the subject by the Voice of America....

89 charged in Medicare fraud busts in 8 cities

Tue, 14 May 2013 13:49:00 EDT

Nearly 100 people, including 14 doctors and nurses, were charged for their roles in separate Medicare scams that collectively billed the taxpayer-funded program for roughly $223 million in bogus charges in a massive bust...

Airlines collected record baggage fees in 2012

Tue, 14 May 2013 13:40:00 EDT

U.S. airlines collected more than $6 billion in baggage and reservation change fees from passengers last year - the highest amount since the fees became common five years ago.

EU to shift bill for bank failures to creditors

Tue, 14 May 2013 13:19:00 EDT

European Union governments want to shift the cost of rescuing troubled banks from taxpayers to the banks' creditors - including the holders of large deposits- as part the region's plan to shore up its shaky financial...

Mutual funds continue to attract cash in April

Tue, 14 May 2013 13:19:00 EDT

Mutual funds continued to attract cash in April, although the pace slowed from the record amount that flowed in during the first three months of the year. Investors also became more cautious, as bond funds attracted slightly...

Update to address Windows 8 confusion will be free

Tue, 14 May 2013 12:59:00 EDT

A planned Windows 8 update to address complaints and confusion with Microsoft's new operating system will be made available for free this year, the company said Tuesday.

Nokia unveils metallic smartphone, stock tumbles

Tue, 14 May 2013 12:29:00 EDT

Nokia Corp. on Tuesday unveiled its first Lumia smartphone with a metal cover, low-light camera features and new social network apps. But the new model failed to impress investors, who sent the company's stock down more...

France approves major labor reform package

Tue, 14 May 2013 12:09:00 EDT

France's parliament has passed a package of significant labor reforms Tuesday that the government hopes will help halt rising unemployment and jumpstart the country's stagnant economy.

$590M-plus Powerball: 1 winning ticket sold in Fla

Sun, 19 May 2013 02:43:00 EDT

It's all about the odds, and one single ticket in Florida has beaten them all by matching the numbers drawn for the highest Powerball jackpot in history at an estimated $590.5 million, lottery officials disclosed Sunday.

PennDOT: Fire damage to close I-81 through weekend

Myles Snyder — Thu, 9 May 2013 17:44:00 EDT

Interstate 81 and one of two overhead bridges damaged by a massive tanker fire will remain closed through the weekend, and a second ramp could remain closed for 2-3 months.

1 winning ticket sold in Fla. on Powerball

Sun, 19 May 2013 01:43:00 EDT

A lottery official says 1 winning ticket has been sold in Florida for a record Powerball jackpot of more than $590 million.

Corbett gets cool reception at Pa. graduation

Sat, 18 May 2013 15:56:00 EDT

Gov. Tom Corbett got a cool reception when he addressed a central Pennsylvania university's graduating class.

Police: Boy, 6, kicked by pony on Pa. farm dies

Sat, 18 May 2013 10:28:00 EDT

Authorities say a 6-year-old boy died after he was kicked in the throat by a pony on a central Pennsylvania farm.

Powerball jackpot sets new record

Myles Snyder — Sat, 18 May 2013 12:09:00 EDT

The Powerball lottery is offering its highest jackpot ever.

PennDOT: I-81 now open in all directions

Myles Snyder — Mon, 13 May 2013 22:02:00 EDT

PennDOT has reopened an 11-mile stretch of Interstate 81 that has been closed since a tanker fire last week.

Federal report documents inmate sex abuse in US

Sat, 18 May 2013 18:24:00 EDT

A new federal report says inmates at jails in Indianapolis, Baltimore, St. Louis and Philadelphia face the nation's highest levels of sexual abuse at the hands of guards.

Clouds here to stay through Sunday

Sat, 18 May 2013 18:44:00 EDT

We can still expect seasonal warmth this weekend, but additional clouds will limit the amount of sunshine...

Police respond to standoff in Lancaster

James Crummel — Sat, 18 May 2013 14:27:00 EDT

Police in Lancaster responded to a standoff along the 600 block of East King Street early Saturday morning.

Harrisburg mayoral candidates make final campaign push

Kendra Nichols — Sun, 19 May 2013 00:51:00 EDT

This weekend is the final push before primary election day on Tuesday. Democratic Harrisburg mayoral candidates were campaigning door to door in the city.

Taps performance commemorates Armed Services Day

Katie Mae Bassler — Sun, 19 May 2013 00:19:00 EDT

Musicians hosted a solemn ceremony to commemorate Armed Forces Day in Lebanon County.

2010 Uganda bombing victim graduates from college

Sari Heidenreich — Sat, 18 May 2013 17:59:00 EDT

Walking across the stage at Messiah College today, Kris Sledge accepted his diploma and closed a chapter, one that was nearly ended for good in the summer of 2010.

Humans, dogs gather for Humane Society 5K Run/Walk

Katie Mae Bassler — Sat, 18 May 2013 17:15:00 EDT

The Humane Society of Harrisburg held its annual 5K Run/Walk to help our four-legged friends.

Midstaters give blood, save lives in honor of Boston victims

Katie Mae Bassler — Sat, 18 May 2013 17:14:00 EDT

Midstaters gave blood and saved lives in honor of the victims killed or injured in last month's Boston Marathon bombings.

Rotary International District 7390 exhibits community projects

Katie Mae Bassler — Sat, 18 May 2013 15:42:00 EDT

Rotary International District 7390 held its District Conference at the Radisson in Camp Hill.

Woman, 76, dies after being struck by vehicle in Franklin Co.

Katie Mae Bassler — Sat, 18 May 2013 15:37:00 EDT

State police are investigating a pedestrian crash involving a 76-year-old Shippensburg woman who died at the scene.

1 hospitalized following single-vehicle crash in Palmyra

Katie Mae Bassler — Sat, 18 May 2013 14:04:00 EDT

Authorities responded to a single-vehicle crash in Palmyra that sent one person to the hospital on Friday night.

Harrisburg School Board approves recovery plan

Dan Carrigan — Sat, 18 May 2013 10:41:00 EDT

The Harrisburg School Board unanimously approved the state-appointed recovery officer's plan, which includes a tax increase and a cut to employee costs and benefits.