Business News
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Macy's sues JC Penney over Martha Stewart deal
Tweet Share on Facebook 6:46PM August 16, 2012 CommentNEW YORK (AP) — Macy's Inc. is suing rival retailer J.C. Penney Co., claiming Penney's bid to sell products by Martha Stewart Living is a breach of an exclusive contract held by Macy's and could cost it potentially billions in sales.
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EPA signs rule to cut haze in Big Sky Country
Tweet Share on Facebook 6:31PM August 16, 2012 CommentBILLINGS, Mont. (AP) — Federal regulators have approved a new measure meant to help turn Montana's Big Sky Country into Clear Sky Country by forcing industrial plants to cut pollutants that make hazy skies over national parks and wilderness areas.
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S&P 500 creeps near four-year high; Cisco surges
Tweet Share on Facebook 4:47PM August 16, 2012 CommentNEW YORK (AP) — Encouraging earnings from Cisco and hopeful signs in a housing report lifted the stock market Thursday. The gains nudged the Standard & Poor's 500 index near the four-year high it reached earlier this year.
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Forecast: US drought lingering but leveling off
Tweet Share on Facebook 4:31PM August 16, 2012 CommentST. LOUIS (AP) — The worst drought in the U.S. in decades may be leveling off or even be easing ever so slightly in some lucky locales, federal weather forecasters announced Thursday in a report of little comfort for farmers and ranchers who already have begun tallying this year's losses.
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Gap's 2Q profit up 28 percent
Tweet Share on Facebook 4:04PM August 16, 2012 CommentNEW YORK (AP) — Gap Inc. is reporting a 29 percent increase in second-quarter net income as the fashion retailer's moves to spice up its fashions are attracting shoppers back to its stores.
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South African police shoot, kill striking miners
Tweet Share on Facebook 3:38PM August 16, 2012 CommentJOHANNESBURG (AP) — South African police opened fire Thursday on a crowd of striking miners that charged a line of officers trying to disperse them, killing some and wounding others in one of the worst shootings by authorities since the end of the apartheid era.
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Townsfolk sickened after Peru toxic spill
Tweet Share on Facebook 1:08PM August 16, 2012 CommentSANTA ROSA DE CAJACAY, Peru (AP) — It began with a loud pop like a tire bursting. A toxic cocktail of copper concentrate laced with a periodic-table's mix of volatile compounds then shot skyward.
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Facebook Hits New Low as IPO Lock-up Ends
Tweet Share on Facebook 12:29PM August 16, 2012 CommentNEW YORK (AP) — Facebook's stock plunged to a new low Thursday after the expiration of a ban that had prevented some early investors and insiders from dumping millions of additional shares they own in the social-networking leader.
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Aeroflot plane lands in Iceland after bomb threat
Tweet Share on Facebook 12:28PM August 16, 2012 CommentREYKJAVIK, Iceland (AP) — An Aeroflot plane carrying 256 people from New York to Moscow made an unscheduled landing in Iceland on Thursday following a report of a bomb on board, authorities said. Police said no explosives were found after an extensive search.
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Undoing Obama Medicare cuts may backfire on Romney
Tweet Share on Facebook 11:09AM August 16, 2012 CommentWASHINGTON (AP) — GOP presidential candidate Mitt Romney's new promise to restore the Medicare cuts made by President Barack Obama's health care overhaul law could backfire if he's elected.
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Study: Companies paid more to CEOs than in US tax
Tweet Share on Facebook 10:57AM August 16, 2012 CommentNEW YORK (AP) — Twenty-six big U.S. companies paid their CEOs more last year than they paid the federal government in tax, according to a study released Thursday by a liberal-leaning think tank.
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Ford Europe sales fall as economy struggles
Tweet Share on Facebook 10:52AM August 16, 2012 CommentDETROIT (AP) — Ford Motor Co.'s problems in Europe are worsening thanks to the region's faltering economy.
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Spanish farm workers start protests for more help
Tweet Share on Facebook 9:45AM August 16, 2012 CommentMADRID (AP) — Farm workers in southern Spain have launched a series of protest marches to get more government aid to help them deal with mass unemployment.
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US unemployment aid applications up by only 2,000
Tweet Share on Facebook 9:38AM August 16, 2012 CommentWASHINGTON (AP) — The number of Americans applying for unemployment benefits edged up slightly last week but remained at a level consistent with modest gains in hiring.
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Nestle loses coffee capsule battle in Germany
Tweet Share on Facebook 9:12AM August 16, 2012 CommentBERLIN (AP) — Switzerland's Nestle has lost a bid in neighboring Germany to ban the sale generic coffee capsules that can be used in its Nespresso machines.
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Schulze says committed to Best Buy takeover bid
Tweet Share on Facebook 8:43AM August 16, 2012 CommentMINNEAPOLIS (AP) — Best Buy Co. co-founder Richard Schulze says he's committed to his offer for the consumer electronics retailer and has heard from a number of private equity firms prepared to make "significant commitments."
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Ikea to launch budget hotel chain
Tweet Share on Facebook 8:37AM August 16, 2012 CommentSTOCKHOLM (AP) — Best known for its budget flat-pack furniture, Scandinavian retailer Ikea is planning to launch a chain of budget hotels in Europe.
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Maruti Suzuki to restart riot hit car plant
Tweet Share on Facebook 8:36AM August 16, 2012 CommentNEW DELHI (AP) — Top Indian carmaker Maruti Suzuki said Thursday it would reopen a factory with tightened security including a force of 100 police after a riot by workers last month killed one person and injured dozens of others.
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SKorean chaebol boss sentenced to 4 years prison
Tweet Share on Facebook 7:24AM August 16, 2012 CommentSEOUL, South Korea (AP) — The chairman of Hanwha Corp., one of South Korea's largest conglomerates, was sentenced to four years prison and fined 5.1 billion won ($4.5 million) for embezzlement in a ruling that shows a tougher stance against wrongdoing by leaders of the country's mightiest companies.
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German minister: no negotiating on Greek reforms
Tweet Share on Facebook 6:28AM August 16, 2012 CommentBERLIN (AP) — Germany's Economy Minister is urging Greece to forge ahead with austerity measures demanded as part of the country's bailout, saying they are not up for negotiation.
