Business News
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US auto factories cutting back on summer downtime
Tweet Share on Facebook 6:22AM May 22, 2013 CommentDETROIT (AP) — Detroit auto factories are forgoing their traditional two-week summer break and speeding up production to meet buyers' growing demand for new cars and trucks.
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EU leaders discuss fight against tax evasion
Tweet Share on Facebook 6:20AM May 22, 2013 CommentBRUSSELS (AP) — The European Union's leaders are seeking to advance their fight against tax evasion and close loopholes for large corporations' creative tax avoidance schemes.
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Bank of England remains divided on stimulus
Tweet Share on Facebook 5:40AM May 22, 2013 CommentLONDON (AP) — The Bank of England's policymakers remain divided on whether to provide more stimulus to the flat-lining economy, according to the minutes of their meeting in May.
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Sony mulls hedge fund's entertainment sale idea
Tweet Share on Facebook 4:49AM May 22, 2013 CommentTOKYO (AP) — Sony's CEO Kazuo Hirai says the company's board will discuss a proposal by U.S. hedge fund manager Daniel Loeb to spin off up to 20 percent of its movie, TV and music division.
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Weak yen a help for Japan, but headache elsewhere
Tweet Share on Facebook 3:37AM May 22, 2013 CommentTOKYO (AP) — A steady decline in the yen is proving a godsend for exporters such as Toyota and has won solid support from Japan's main trading partners, who are betting the impact on their own currencies will be offset by gains from a recovery in the world's third-largest economy. It's not such good news for entrepreneurs like Thamonwan Thawornthaweewong, whose Angry Bird fish balls, squid rings and other products now cost more to sell in Japan.
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Immigration bill heads to full Senate
Tweet Share on Facebook 3:21AM May 22, 2013 CommentWASHINGTON (AP) — A far-reaching bill to remake the nation's troubled immigration system is headed to the full Senate after approval by the Senate Judiciary Committee.
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Kerry pushes $2.1 billion Raytheon deal in Oman
Tweet Share on Facebook 3:11AM May 22, 2013 CommentMUSCAT, Oman (AP) — U.S. Secretary of State John Kerry is talking with officials in Oman about their plans to buy a $2.1 billion air defense system from American manufacturer Raytheon.
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Japan's central bank says economy picking up
Tweet Share on Facebook 2:07AM May 22, 2013 CommentTOKYO (AP) — Japan's central bank says the world's third-biggest economy is "picking up" as demand recovers in other countries and remains resilient at home, though the trade deficit widened in April, for the tenth straight month.
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Oil falls below $96 before Fed chief speaks
Tweet Share on Facebook 2:03AM May 22, 2013 CommentBANGKOK (AP) — The price of oil fell Wednesday as investors waited for a report on U.S. crude stocks and the Federal Reserve's latest views on the U.S. economy.
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Asia stocks rise as Fed official backs easy policy
Tweet Share on Facebook 1:59AM May 22, 2013 CommentBANGKOK (AP) — Asian stock markets were mostly higher Wednesday after investor confidence was boosted by a Federal Reserve official's comments that the U.S. central bank should stick with its super-easy monetary policy.
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US auto factories cutting back on summer downtime
Tweet Share on Facebook 1:09AM May 22, 2013 CommentDETROIT (AP) — Detroit auto factories are forgoing their traditional two-week summer break and speeding up production to meet buyers' growing demand for new cars and trucks.
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Bernanke testimony to be studied for policy clues
Tweet Share on Facebook 12:05AM May 22, 2013 CommentWASHINGTON (AP) — When Ben Bernanke testifies about the U.S. economy Wednesday, the Federal Reserve chairman's words will be examined for any clues that the Fed might soon taper — or increase — its support for the economy.
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Senate panel approves immigration bill
Tweet Share on Facebook 8:33PM May 21, 2013 CommentWASHINGTON (AP) — Far-reaching legislation to grant a chance at citizenship to millions of immigrants living illegally in the United States cleared the Senate Judiciary Committee on a solid bipartisan vote Tuesday night after supporters somberly sidestepped a controversy over the rights of gay spouses.
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Japan's trade deficit hits $8.6 billion in April
Tweet Share on Facebook 8:18PM May 21, 2013 CommentTOKYO (AP) — Japan reports its trade deficit widened to a larger-than-expected 879.9 billion yen ($8.6 billion) in April as its weakening currency accentuated surging import costs.
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Best Buy reports 1Q loss on restructuring costs
Tweet Share on Facebook 6:34PM May 21, 2013 CommentMINNEAPOLIS (AP) — Best Buy Co. on Tuesday reported a loss for its fiscal first quarter as it sold its stake in Best Buy Europe and works on a turnaround plan that includes cutting costs and closing some stores.
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Stocks gain on reassurance from a top Fed official
Tweet Share on Facebook 4:53PM May 21, 2013 CommentNEW YORK (AP) — Reassuring comments from a Federal Reserve official and better earnings from two big retailers helped push the stock market higher Tuesday.
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Ex-Ford execs charged in Argentine torture cases
Tweet Share on Facebook 3:21PM May 21, 2013 CommentBUENOS AIRES, Argentina (AP) — Three former Ford Motor Co. executives have been charged with crimes against humanity in Argentina for allegedly targeting union workers for kidnapping and torture after the country's 1976 military coup.
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France: Drugmaker on trial, suspected in deaths
Tweet Share on Facebook 1:35PM May 21, 2013 CommentNANTERRE, France (AP) — The makers of a diabetes and weight loss drug suspected in the deaths of hundreds of people went on trial Tuesday, facing charges they misled the public about the product's safety.
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Germany's SAP to recruit tech staff with autism
Tweet Share on Facebook 1:27PM May 21, 2013 CommentBERLIN (AP) — German software giant SAP AG said Tuesday it plans to recruit people with autism to take make full use of their talents to process information.
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ESPN cutting workforce, 'smartly managing costs'
Tweet Share on Facebook 1:21PM May 21, 2013 CommentNEW YORK (AP) — ESPN is cutting its workforce, the latest Disney division to reduce staff.
