Business
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EU slaps levies on Chinese solar panel imports
2013-06-04 16:32:27 UTC
BERLIN (AP) — The European Union announced Tuesday that it is to impose anti-dumping levies on imports of Chinese solar panels, in a move that could trigger a trade war between two of the world's largest economies.
EU Trade Commissioner Kar...
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Shares of Merck, Bristol jump on cancer drug news
2013-06-04 05:26:52 UTC
TRENTON, N.J. (AP) — Experimental drugs that help the immune system detect otherwise-invisible cancer cells shrank tumors and extended the lives of patients with advanced melanoma, according to early research some analysts are hailing as a...
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US construction spending up 0.4 percent in April
2013-06-03 17:12:30 UTC
WASHINGTON (AP) — Spending on U.S. construction projects rose in April despite weakness in residential projects and government spending.
Construction spending rose 0.4 percent in April, compared with March, when spending fell a revised 0....
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Applications for US unemployment aid rise to 354K \
2013-05-30 16:53:25 UTC
WASHINGTON (AP) — The number of Americans seeking unemployment benefits rose 10,000 last week to a seasonally adjusted 354,000. Still, the level of applications is consistent with steady hiring and remains near a five-year low.
The Labor ...
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Stocks jump after home prices, confidence surge
2013-05-28 16:20:26 UTC
NEW YORK (AP) — Stocks are rising sharply on Wall Street after U.S. home prices rose the most in seven years and consumer confidence reached a five-year high.
The Dow Jones industrial average climbed as much as 210 points during morning trading...
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US home prices rise 10.9 pct., most since 2006
2013-05-28 16:19:28 UTC
WASHINGTON (AP) — U.S. home prices jumped 10.9 percent in March compared with a year ago, the most since April 2006. A growing number of buyers are bidding on a tight supply of homes, driving prices higher and helping the housing market reco...
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US durable goods orders rise 3.3 percent in April
2013-05-24 16:13:43 UTC
WASHINGTON (AP) — U.S. orders for long-lasting manufactured goods rebounded in April, buoyed by more demand for aircraft and stronger business investment. The gains suggest economic growth may be holding steady this spring.
Orders for dur...
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Survey shows China manufacturing contracting
2013-05-23 04:25:46 UTC
BEIJING (AP) — A survey shows China's manufacturing contracted this month, adding to signs a fragile economic recovery is slowing.
HSBC Corp. said Thursday the preliminary version of its monthly purchasing managers index fell to a seven-month...
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Bernanke signals Fed to maintain stimulus efforts
2013-05-22 17:13:52 UTC
WASHINGTON (AP) — Chairman Ben Bernanke told Congress Wednesday that the U.S. job market remains weak and that it is too soon for the Federal Reserve to end its extraordinary stimulus programs.
Reducing the Fed's efforts to keep borrowi...
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Stocks rise on Fed stimulus hopes, home sales
2013-05-22 17:12:51 UTC
NEW YORK (AP) — Stocks are moving higher Wednesday after Federal Reserve Chairman Ben Bernanke said it was too soon for the central bank to pull back on its economic stimulus programs.
Investors were also encouraged by news that sales of ...
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US auto factories cutting back on summer downtime
2013-05-22 17:07:21 UTC
DETROIT (AP) — The Detroit automakers are largely forgoing the traditional two-week summer break at their factories and speeding up production to meet buyers' growing demand for new cars and trucks.
Ford Motor Co. said Wednesday that 21...
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Housing recovery boosts Home Depot 1Q results
2013-05-21 17:28:21 UTC
NEW YORK (AP) — Home Depot Inc.'s first-quarter net income rose 18 percent, thanks to the ongoing housing recovery, despite a chilly and wet spring.
Its quarterly results topped Wall Street expectations, and the world's biggest home impro...
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Actavis buying Warner Chilcott in $8.5B deal
2013-05-20 17:34:19 UTC
NEW YORK (AP) — Actavis is buying Warner Chilcott in an all-stock deal valued at about $8.5 billion that would create the third-biggest specialty pharmaceutical company in the U.S. market.
The announcement Monday comes after the companies...
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Brazil approves law to modernize ports
2013-05-18 05:07:05 UTC
SAO PAULO (AP) — 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,
The Brazilian Congr...
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A late fade on Wall Street; Wal-Mart, Disney slump
2013-05-17 04:14:49 UTC
NEW YORK (AP) — Signs of a slowing economy combined with comments from a Federal Reserve official helped pull the stock market down Thursday.
There was plenty of discouraging news. Applications for unemployment benefits rose last week and...
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German economy returns to modest growth
2013-05-15 06:39:09 UTC
BERLIN (AP) — The German economy, Europe's biggest, returned to very modest growth in the first quarter and avoided a recession.
Germany's Federal Statistical Office said Wednesday that the economy grew by a slight 0.1 percent in the January-...
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Stocks mixed as retail sales unexpectedly rise
2013-05-13 17:32:03 UTC
NEW YORK (AP) — A record-breaking rally in stocks stalled Monday as investors assessed whether stock valuations were overstating the improvement in the economy.
Stocks started the day lower even after the government reported t...
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US retail sales rise in April on cars, clothing
2013-05-13 17:28:23 UTC
WASHINGTON (AP) — Americans increased their spending in April at retail businesses, buying more cars and clothes while paying less for gas. The rebound from a weak March suggests consumers may help boost economic growth again this sp...
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Mark Zuckerberg's Group Loses High-Profile Backers Elon Musk, David Sacks
2013-05-11 18:13:51 UTC
WASHINGTON -- Billionaire eco-entrepreneur Elon Musk announced on Friday that he was quitting Facebook founder Mark Zuckerberg's immigration advocacy group, upset over its controversial political strategy.
Fwd.us told The Huffington Post that a...
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US jobless aid applications fall to 5-year low
2013-05-10 05:00:19 UTC
WASHINGTON (AP) — The number of Americans who applied for unemployment benefits fell by 4,000 last week to a seasonally adjusted 323,000, a five-year low. Layoffs have returned to pre-recession levels, a trend that could lead to more h...
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US factory orders down 4 percent in March
2013-05-03 17:15:22 UTC
WASHINGTON (AP) — Orders to U.S. factories fell in March by the largest amount in seven months but a key category that signals business investment plans managed a small increase.
Factory orders dropped 4 percent in March, reflecting a big...
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US service firms grew more slowly in April
2013-05-03 17:13:55 UTC
WASHINGTON (AP) — A survey of U.S. service firms says the sector expanded at a slower pace in April than March, as companies reported less business activity and couldn't raise their prices.
The Institute for Supply Management said Friday ...
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US employers add 165K jobs; rate falls to 7.5 pct.
2013-05-03 17:11:40 UTC
WASHINGTON (AP) — The U.S. economy showed last month why it remains the envy of industrialized nations: In the face of tax increases and federal spending cuts, employers added a solid 165,000 jobs in April — and far more in February and Marc...
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Stocks gain after unemployment claims fall
2013-05-02 19:11:15 UTC
NEW YORK (AP) — Encouraging news about the job market and higher profits from CBS, Facebook and other companies lifted stocks Thursday.
Signs of increased hiring have supported this year's surge in stocks and pushed the market to record...
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Oil slips as US growth lags expectations
2013-04-26 17:30:41 UTC
NEW YORK (AP) — The price of oil slipped after two days of strong gains as U.S. economic growth was slightly slower than expected.
By midday in New York Friday, benchmark oil for June delivery was down $1.18, or 1.3 percent, to $92.46 a b...
