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United Airlines posts 2Q profit, reversing 1Q loss

Jul 24, 2014

CHICAGO (AP) — United Airlines is making money after a slow start to the year.

The airline's net income in the second quarter hit $789 million, topping Wall Street expectations and marking a turnaround from the first quarter when United was the only major U.S. carrier to report a loss.

The ...

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Wal-Mart names new CEO of US discount division

Jul 24, 2014

NEW YORK (AP) — Wal-Mart U.S. chief Bill Simon is stepping down after being in the role since June 2010, the company said Thursday.

The world's largest retailer named the head of its Asian business as his replacement.

The Bentonville, Arkansas-based retailer said Greg Foran, 53, who was promoted ...

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Union Pacific 2Q profit chugs ahead 17 percent

Jul 24, 2014

OMAHA, Neb. (AP) — Union Pacific Corp. says its quarterly profit climbed 17 percent as the railroad hauled 8 percent more freight and raised shipping rates.

The Omaha, Nebraska-based company said Thursday that profit increased to $1.29 billion, or $1.43 per share, in the second quarter. That's up ...

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Southwest reports record profit of $465M for 2Q

Jul 24, 2014

DALLAS (AP) — Southwest Airlines is reporting a record profit for the second quarter, more than doubling what it earned a year ago.

Southwest said Thursday that net income rose to $465 million. Excluding special items, the airline earned 70 cents per share. That beats Wall Street's forecast of 61 ...

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Oil drifts down despite China manufacturing bounce

Jul 24, 2014

By PABLO GORONDI, Associated Press

The price of oil fell below $103 a barrel Thursday, giving back part of its gains from the day before, despite improvements in Chinese manufacturing.

By early afternoon in Europe, benchmark U.S. crude for September delivery was down 20 cents to $102.92 a barrel in ...

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American Airlines boosts profit on higher revenue

Jul 24, 2014

FORT WORTH, Texas (AP) — Profit and revenue are up at American Airlines, and the company will share some of the gains with shareholders.

American Airlines Group Inc. said Thursday that it earned $864 million in the second quarter, up from the $507 million that American and US Airways earned ...

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FAA lifts ban on US flights to Tel Aviv airport

Jul 24, 2014

WASHINGTON (AP) — The Federal Aviation Administration has lifted its ban on U.S. flights in and out of Israel.

The end of the ban, which the agency had imposed out of concern for the risk of planes being hit by Hamas rockets, was effective at 11:45 p.m. EDT Wednesday.

"Before making this ...

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Caterpillar 2Q profit rises, revenue declines

Jul 24, 2014

PEORIA, Ill. (AP) — Caterpillar's second-quarter net income rose 4.1 percent even as revenue slipped.

The construction equipment company's adjusted profit topped Wall Street's view, but revenue fell short. It also boosted its full-year earnings forecast.

Caterpillar — which also makes power ...

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GM profit 2Q falls 85 pct. on recall costs

Jul 24, 2014

DETROIT (AP) — General Motors says second-quarter profit fell 85 percent as recall costs chopped $1.5 billion from the bottom line.

The automaker posted a net profit of $190 million, or 11 cents per share, including restructuring and recall-related expenses. A year ago GM made $1.26 billion, or 75 ...

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Breitburn buying QR Energy in $1.46 billion deal

Jul 24, 2014

HOUSTON (AP) — Breitburn Energy is buying QR Energy LP in a deal worth about $1.46 billion.

QR unitholders will receive approximately 72 million common units of Breitburn Energy Partners LP, or 0.9856 of a Breitburn unit, for each unit of QR Energy that they own. The consideration to be received ...

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Eurozone economy picking up steam despite France

Jul 24, 2014

LONDON (AP) — A closely watched survey suggests economic growth in the 18-country eurozone picked up during July despite ongoing concerns over France, the currency bloc's second-largest economy.

Financial information company Markit said Thursday that its purchasing managers' index — a gauge of ...

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Obama wants limits on US company mergers abroad

Jul 24, 2014

LOS ANGELES (AP) — President Barack Obama is tapping into growing misgivings about tax-driven overseas mergers by U.S. corporations, issuing a new call to end the practice quickly and questioning the patriotism and citizenship of those companies.

The push comes amid a developing trend by companies ...

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Nokia profits rise after sale of handset division

Jul 24, 2014

By JARI TANNER, Associated Press

HELSINKI (AP) — Telecommunications and wireless equipment maker Nokia Corp. saw its shares surge on Thursday after it reported higher profits and an improved earnings outlook in the wake of its sale to Microsoft of its troubled handset division.

The Finnish company ...

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European Central Bank in database security breach

Jul 24, 2014

BERLIN (AP) — The European Central Bank says contact data have been stolen from a database that serves its public website, though it's stressing that no internal systems or market-sensitive data were compromised.

The Frankfurt-based central bank for the 18 nations that share the euro said Thursday ...

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Social Security's $300M IT project doesn't work

Jul 24, 2014

WASHINGTON (AP) — The Social Security Administration has spent nearly $300 million on a new computer system to handle disability claims, but the agency can't get it to work. And officials can't say when it will.

Six years ago, Social Security embarked on an aggressive plan to replace outdated ...

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HK firms on edge as democracy rally blockade looms

Jul 24, 2014

By KELVIN CHAN, AP Business Writer

HONG KONG (AP) — As activists vow to shut down Hong Kong's financial district in protest at China's attempt to hobble democratic elections in the city, businessman Bernard Chan is preparing for the worst.

Chan's investment company has added backup phone lines,

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Swiss drug maker Roche posts 7 percent profit drop

Jul 24, 2014

GENEVA (AP) — Swiss drugmaker Roche Holding AG has posted a net profit drop of 7 percent compared with a year ago, weighed down by a strong Swiss franc and charges from one of its diagnostic units.

The world's biggest manufacturer of cancer drugs, which reports earnings every six months, posted ...

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Boss of company in China meat scandal apologizes

Jul 24, 2014

By JOE McDONALD, AP Business Writer

BEIJING (AP) — The chairman of an American meat supplier apologized Thursday for a Chinese subsidiary that is accused of selling expired beef and chicken to restaurants including McDonald's and KFC.

Fast food chains in China suspended use of products from ...

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JFK returns to old look in new collectors' coins

Jul 24, 2014

By MICHAEL HILL, Associated Press

WEST POINT, N.Y. (AP) — President John F. Kennedy is getting his old look back on new collectors' coins.

The slain president's profile debuted on the half dollar 50 years ago, and the image was subtly tweaked in the 1990s. Now the U.S. Mint is producing collectors'

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UN human development report faults inequality

Jul 24, 2014

By ELAINE KURTENBACH, AP Business Writer

TOKYO (AP) — Improvements in life spans, education and incomes are slowing due to natural disasters, misguided government policies and worsening inequality in a world where the 85 richest people have as much wealth as the 3.5 billion poorest people, the ...

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