Business News
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Knight Capital gets its trading job restored
Tweet Share on Facebook 5:40PM August 07, 2012 CommentKnight Capital, the trading firm that fought for its survival over the weekend, is getting back its trading responsibilities.
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Conn. tribal gambling company expands into NJ
Tweet Share on Facebook 5:39PM August 07, 2012 CommentATLANTIC CITY, N.J. (AP) — The tribe that owns the Mohegan Sun casino extended its reach in the East on Tuesday by taking over operations of Atlantic City's oldest casino, planting itself in the region's gambling mecca as an alternative to luring tourists to its slot machines and poker tables in eastern Connecticut.
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US consumers cut back on credit card use in June
Tweet Share on Facebook 5:32PM August 07, 2012 CommentWASHINGTON (AP) — Americans cut back on credit card use in June, a sign that high unemployment and slow growth have made some more cautious about spending.
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Cayman premier scrapping income tax on expats
Tweet Share on Facebook 5:23PM August 07, 2012 CommentKINGSTON, Jamaica (AP) — The Cayman Islands is scrapping a plan to impose a direct income tax on thousands of expatriates working in the British Caribbean territory that is famed as a no-tax financial center.
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Tough choices for law schools amid jobs crisis
Tweet Share on Facebook 4:13PM August 07, 2012 CommentWASHINGTON (AP) — A few months after finishing college, Angela Achen sat in a hospital waiting room and took stock of her assets: A degree in art history, a knack for women's studies and almost no marketable job skills.
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EW Scripps posts 2Q profit on upbeat TV ad sales
Tweet Share on Facebook 3:45PM August 07, 2012 CommentCINCINNATI (AP) — TV station and newspaper owner The E.W. Scripps Co. said Tuesday that it posted a second-quarter profit, thanks to better-than-expected TV advertising revenue and the acquisition of several stations.
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Oil rises above $94 for 1st time since May
Tweet Share on Facebook 3:03PM August 07, 2012 CommentOil rose above $94 per barrel for the first time since May on Tuesday, buoyed by hopes for economic stimulus and worries about supply disruptions
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Apple to Ditch iPhone YouTube App
Tweet Share on Facebook 2:57PM August 07, 2012 Comment
iPad and iPhone
Apple says the next version of its software for the iPhone and iPad won't come with a pre-installed YouTube application.
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U.S. Newsstand Magazine Sales Slide 10 Percent
Tweet Share on Facebook 2:46PM August 07, 2012 Comment
A pile of magazines.
NEW YORK (AP) — U.S. magazine sales fell nearly 10 percent in the first half of 2012, a troubling sign for publishers that suggests Americans are still being careful about discretionary spending.
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US seeks $162M in fines against AMR, American Air
Tweet Share on Facebook 1:54PM August 07, 2012 CommentDALLAS (AP) — Federal safety regulators are seeking up to $162.4 million in fines against American Airlines and its affiliates for alleged violations of U.S. safety standards going back several years. Those sanctions would dwarf any previous penalties against an airline.
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MGM posts loss, but revenue leaps on hotel, casino
Tweet Share on Facebook 1:27PM August 07, 2012 CommentNEW YORK (AP) — MGM Resorts International on Tuesday posted a second-quarter loss double what Wall Street forecast, but that didn't rattle investors. They focused instead on the casino and resort operator's surging revenue, driven by better-than-expected results in China and higher revenue for hotel rooms.
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Journalist, officer held in UK corruption probe
Tweet Share on Facebook 12:49PM August 07, 2012 CommentLONDON (AP) — British police investigating unethical links between police and reporters arrested a journalist and a police officer Tuesday for questioning.
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Iraq's Kurds sign 2 energy deals with Koreans
Tweet Share on Facebook 12:08PM August 07, 2012 CommentBAGHDAD (AP) — Iraq's self-ruled Kurdish region has signed a deal with Korean companies to construct two power plants. It's part of an oil exploration deal.
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Standard Chartered shares dive after US allegation
Tweet Share on Facebook 12:02PM August 07, 2012 CommentLONDON (AP) — Standard Chartered PLC saw 5.8 billion pounds ($9.1 billion) wiped off its market value Tuesday after the New York state regulator accused the U.K. bank of being involved in laundering money for Iran, dealing a further blow to the City of London's reputation as a financial center.
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Bank scandals tarnish London's reputation
Tweet Share on Facebook 11:53AM August 07, 2012 CommentLONDON (AP) — It's been a tense summer in the City of London as one bank after another has faced allegations of massive misbehavior.
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S. Africa's Telkom hit with $54.8M fine
Tweet Share on Facebook 11:13AM August 07, 2012 CommentJOHANNESBURG (AP) — Regulators fined South African telecommunications company Telkom SA Ltd. $54.8 million on Tuesday for "bullying" its competitors with a monopoly hold on the country's Internet access and other services.
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Spanish unions tell king bailout would be suicidal
Tweet Share on Facebook 11:07AM August 07, 2012 CommentMADRID (AP) — Union leaders told King Juan Carlos on Tuesday they opposed an international bailout for Spain and said government austerity measures to reduce the bloated deficit are suicidal for the country.
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S&P cuts Serbia's credit rating
Tweet Share on Facebook 11:04AM August 07, 2012 CommentBELGRADE, Serbia (AP) — Standard & Poor's has cut Serbia's credit rating by a notch from stable to negative, and three senior central bank officials have resigned to protest a new law they say threatens the bank's independence.
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Greece looking for more cuts
Tweet Share on Facebook 10:58AM August 07, 2012 CommentATHENS, Greece (AP) — Greece has still to find up to €4 billion ($5 billion) worth of cuts to satisfy the demands of its international creditors, the country's finance minister said Tuesday.
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Freddie Mac posts $1.2B net income for 2Q
Tweet Share on Facebook 10:41AM August 07, 2012 CommentWASHINGTON (AP) — Government-controlled mortgage giant Freddie Mac posted net income of $1.2 billion for the second quarter and isn't requesting any additional federal aid for the period.
