• News
  • Business News

Business News


Chinese Solar Makers Reject U.S. Dumping Ruling

May 18, 2012

By JOE McDONALD, Associated Press

BEIJING (AP) — Chinese producers of solar power equipment on Friday rejected an American anti-dumping ruling in a case that threatens to worsen U.S.-Chinese tensions. They warned proposed punitive tariffs might hurt efforts to promote clean energy.

The United ...

Read More

China shadow looming, Taiwan's Ma set for 2nd term

May 18, 2012

By PETER ENAV, Associated Press

TAIPEI, Taiwan (AP) — Taiwan President Ma Ying-jeou has leveraged growing economic ties with China to reduce tensions to their lowest level since the two sides split in 1949. China's incessant effort to draw the democratic island closer politically has been on the ...

Read More

Questions and answers on blockbuster Facebook IPO

May 18, 2012

By BERNARD CONDON, Associated Press

NEW YORK (AP) — A company started in a Harvard dorm room in 2004 has just raised $16 billion and is valued at $104 billion. All that from an initial public offering of stock.

But taking a company public isn't as simple as clicking on "like." Even for Facebook.

Read More

Japan launches rocket with first foreign satellite

May 17, 2012

TOKYO (AP) — A rocket has lifted off in Japan in the country's first commercial launch of a foreign satellite — one from South Korea designed to monitor the environment.

The HII-A rocket lifted off from a remote southwestern Japan island carrying the South Korean satellite and three Japanese ...

Read More

Facebook's IPO one of world's largest

May 17, 2012

By BARBARA ORTUTAY, Associated Press

NEW YORK (AP) — Facebook found more than enough friends.

The world's definitive online social network said Thursday that it raised $16 billion for itself and its early investors in an initial public stock offering that values Facebook at $104 billion. That's ...

Read More

Wal-Mart's 1Q profit up 10.1 percent

May 17, 2012

By ANNE D'INNOCENZIO, Associated Press

NEW YORK (AP) — Wal-Mart may have gotten its groove back, but an alleged bribery scheme threatens to curtail its progress.

As Wal-Mart reported first-quarter profit on Thursday that beat Wall Street estimates, the world's largest retailer also disclosed that ...

Read More

Gap 1Q profit flat but outlook bright, shares rise

May 17, 2012

By ANNE D'INNOCENZIO and MAE ANDERSON, Associated Press

NEW YORK (AP) — Revenue gains at its Old Navy, Gap and Banana Republic chains and online helped clothing seller Gap Inc. overcome rising costs and post first-quarter net income on Thursday that was unchanged from a year earlier.

The company ...

Read More

Sears spins off Canada stake to focus on US stores

May 17, 2012

HOFFMAN ESTATES, Ill. (AP) — Sears Holdings Corp. said Thursday it returned to a profit in the first quarter as it benefited from a gain on the sale of underperforming stores. The troubled retailer also said it would spinoff a stake in its Canada unit to focus on turning around its U.S. business.

Read More

JPMorgan CEO willing to appear before Senate panel

May 17, 2012

WASHINGTON (AP) — JPMorgan Chase CEO Jamie Dimon is willing to testify at a congressional hearing this spring on the bank's $2 billion trading loss.

Sen. Tim Johnson, a South Dakota Democrat who heads the Senate Banking Committee, says he has invited Dimon to testify about the loss at the nation's ...

Read More

Stocks slump again; 10-yr yield near all-time low

May 17, 2012

By PALLAVI GOGOI, Associated Press

NEW YORK (AP) — Unable to shake their worries about Europe, investors drove stocks to a four-month low Thursday and piled into bonds, sending the yield on the 10-year Treasury note close to an all-time low.

The Dow Jones industrial average posted its 11th loss ...

Read More

Spain banking sector shaken by report of bank run

May 17, 2012

By DANIEL WOOLLS, Associated Press

MADRID (AP) — Confidence in Spain's banks and its teetering economy was shaken Thursday after a newspaper reported that depositors were rushing to withdraw their money from Bankia, a troubled bank that was effectively nationalized just one week ago.

Adding to ...

Read More

US gov't sets stiff tariffs on China solar panels

May 17, 2012

By MATTHEW DALY, Associated Press

WASHINGTON (AP) — The Obama administration moved Thursday to impose stiff new tariffs on solar panels made in China, finding that Chinese companies are improperly flooding the U.S. market with government-subsidized products.

The Commerce Department said Chinese ...

Read More

Moody's downgrades 16 Spanish banks

May 17, 2012

By The Associated Press, Associated Press

Moody's Investors Service is downgrading the ratings of 16 Spanish banks because of the country's worsening financial picture.

Moody's lowered its rating by one to three notches on the long-term debt and deposit ratings for 16 Spanish banks and one U.K.

Read More

Senate confirms 2 Federal Reserve board nominees

May 17, 2012

By MARTIN CRUTSINGER, Associated Press

WASHINGTON (AP) — The Senate has confirmed President Barack Obama's two nominees to the Federal Reserve Board, bringing the seven-member board to full strength for the first time since April 2006.

Harvard economics professor Jeremy Stein, a Democrat, was ...

Read More

Box Office Preview: Expect Avengers to win battle

May 17, 2012

By PAUL DERGARABEDIAN, Associated Press

LOS ANGELES (AP) — Disney/Marvel's "The Avengers" should top the domestic box office for a third straight weekend, fending off wide-release newcomers with another $50 million in receipts.

It would give the money-making superheros the second-best ...

Read More

Tale of the tape: Google versus Facebook

May 17, 2012

By The Associated Press, Associated Press

Facebook is the hottest Internet company to hit the stock market since Google went public in 2004. The Silicon Valley companies, located seven miles apart, also happen to be locked in a bitter battle for Web surfers' allegiance and online advertisers'

Read More

Oil hovers below $93 after sharp 2-week sell-off

May 17, 2012

By ALEX KENNEDY, Associated Press

SINGAPORE (AP) — Oil prices hovered below $93 a barrel Friday in Asia, pausing after the latest twists in Europe's debt crisis triggered a sharp two-week selloff.

Benchmark oil for June delivery was up 4 cents to $92.60 a barrel at midday Singapore time in ...

Read More

Review: Facebook snapshot doesn't capture dynamics

May 17, 2012

By ANICK JESDANUN, Associated Press

NEW YORK (AP) — In my five years on Facebook, I've shared a lot of photos, links and other tidbits about my life. I've commented on what my friends share, and I've endorsed plenty of their posts by hitting the "like" button. I've gained Facebook friends over the ...

Read More

Developer: Pols can't keep approving new casinos

May 17, 2012

By WAYNE PARRY, Associated Press

ATLANTIC CITY, N.J. (AP) — Casinos are not like Starbucks stores: You really can't have one on every corner.

That's the word from David Cordish, whose company is opening a huge new casino next month in Maryland.

Yet Cordish warns that the expansion of casino ...

Read More

Buffett's Berkshire to buy Media General papers

May 17, 2012

NEW YORK (AP) — Billionaire Warren Buffett's company is making another foray into newspapers, agreeing to buy 63 newspapers from Media General Inc. for $142 million.

Berkshire Hathaway Inc. is also extending a loan to Media General and taking a 19.9 percent stake in the company, which will still ...

Read More

You Might Also Like