Business News
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Stocks rise as oil prices, factory orders climb
Tweet Share on Facebook 4:12PM July 03, 2012 CommentNEW YORK (AP) — Stocks climbed Tuesday in an abbreviated holiday trading session after an encouraging report about manufacturing. Energy stocks rose the most because of increased tension over oil-rich Iran.
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Report: Black box of Costa ship had malfunctioned
Tweet Share on Facebook 4:07PM July 03, 2012 CommentROME (AP) — An Italian newspaper reports the data recorder aboard the Costa Concordia, the ship that capsized Jan. 13 off Tuscany, had been malfunctioning in the days prior to the grounding that left 32 people dead.
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Cyprus starts bailout talks with EU, IMF officials
Tweet Share on Facebook 3:39PM July 03, 2012 CommentNICOSIA, Cyprus (AP) — Cyprus began talks Tuesday with the European Union and the International Monetary Fund to gauge how much bailout money it may need to prop up banks weighed down by their huge exposure to Greek debt.
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Obama to Sign Student Loan, Road Building Bill
Tweet Share on Facebook 3:32PM July 03, 2012 Comment
President Barack Obama waves as he walks across the South Lawn before boarding Marine One.
WASHINGTON (AP) — President Barack Obama on Friday plans to sign into law legislation that prevents interest rate increases on new loans to millions of college students and maintains jobs on transportation projects across the nation.
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Dominican Republic bets on gold to boost economy
Tweet Share on Facebook 3:11PM July 03, 2012 CommentSANTO DOMINGO, Dominican Republic (AP) — One of the world's largest gold mining operations is about to open in the Dominican Republic, where the industry has a toxic legacy of pollution that stained rivers a searing red and failed to lift the fortunes of this largely poor country.
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Nigeria signs $4.5B deal to build 6 refineries
Tweet Share on Facebook 2:56PM July 03, 2012 CommentABUJA, Nigeria (AP) — A $4.5 billion deal to build six refineries in Nigeria is set to make Africa's top oil producer less reliant on exports for oil products, authorities say.
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Boeing Expects Market for 34K New Planes
Tweet Share on Facebook 2:56PM July 03, 2012 Comment
AirTran Airways' 50th Boeing 737-700 aircraft lands at Hartsfield-Jackson Atlanta International Airport.
Boeing is raising its 20-year prediction for worldwide airplane sales to 34,000 jets, enough to double the size of the world's fleet, as more people travel in China, India, and other emerging markets.
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ECB to trim interest rates, but no more
Tweet Share on Facebook 2:49PM July 03, 2012 CommentFRANKFURT, Germany (AP) — Europe's sinking economy and wobbly banks could get modest help Thursday from an interest rate cut by the European Central Bank.
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One L of a name: LL Bean's initials get scrutiny
Tweet Share on Facebook 2:46PM July 03, 2012 CommentFREEPORT, Maine (AP) — He's arguably Maine's best-known native son, right up there with Civil War general Joshua Chamberlain, poet Henry Wadsworth Longfellow and horror writer Stephen King. To his customers, he was simply known as "L.L."
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Barclays CEO Diamond quits in rate-fixing scandal
Tweet Share on Facebook 2:01PM July 03, 2012 CommentLONDON (AP) — Barclays Chief Executive Bob Diamond resigned Tuesday, the biggest scalp in a financial markets scandal that has ripped through the bank's senior management and sown the seeds for a new investigation into Britain's banking sector.
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EU court OKs resale of software licenses
Tweet Share on Facebook 1:54PM July 03, 2012 CommentLUXEMBOURG (AP) — The European Union's highest court ruled Tuesday that software makers cannot keep people who download programs from selling their licenses for those programs to others — as long as they disable their own copies.
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Activision brings online 'Call of Duty' to China
Tweet Share on Facebook 1:24PM July 03, 2012 CommentNEW YORK (AP) — Activision is bringing its popular "Call of Duty" series to China as a free online game.
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Chuck E. Cheese Being Replaced With Hipper Image
Tweet Share on Facebook 12:58PM July 03, 2012 Comment
Chuck E. Cheese presented by CEC Entertainment Inc.
NEW YORK (AP) — Chuck E. Cheese has been given the pink slip.
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Slovakia: no more patience for European bailouts
Tweet Share on Facebook 12:27PM July 03, 2012 CommentBERLIN (AP) — Slovakia's prime minister said Tuesday that people in his country have run out of patience with European rescue measures and more aid can only be offered if troubled eurozone nations get their finances in order.
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Ex-President Sarkozy's Home, Offices Searched
Tweet Share on Facebook 12:24PM July 03, 2012 Comment
This Friday, May 4, 2012 file photo shows France's then President and conservative candidate for re-election in 2012, Nicolas Sarkozy as he delivers a speech during a campaign meeting in Sables d'Ollonne, western France.
PARIS (AP) — French investigators searched former President Nicolas Sarkozy's home and office on Tuesday as part of a probe into suspected illegal financing of his 2007 presidential campaign by the L'Oreal cosmetics heiress, an official said.
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Irish to sell debt for 1st time in nearly 2 years
Tweet Share on Facebook 12:09PM July 03, 2012 CommentDUBLIN (AP) — Bailed-out Ireland is to auction debt this week for the first time in nearly two years, treasury officials said Tuesday, in a test they hope will ease the nation's return to normal borrowing next year.
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Oil Prices at Highest Since May on Iran Concerns
Tweet Share on Facebook 12:00PM July 03, 2012 Comment
In this June 26, 2008 file photo, oil well pump jacks of Chevron Corp. are shown in the hills in Coalinga, Calif. Flush with cash from huge profits, Big Oil could be preparing to get bigger.
NEW YORK (AP) — The price of oil jumped more than 4 percent Tuesday to the highest level since May on renewed fears of a military conflict with Iran.
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Diamond in the rough; Banker Bob falls on sword
Tweet Share on Facebook 11:34AM July 03, 2012 CommentLONDON (AP) — He was a poster boy for corporate arrogance, telling Parliament last year that the time for bankers to apologize had passed.
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Recall news
Tweet Share on Facebook 11:02AM July 03, 2012 CommentThe following recall has been announced:
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FDA lays out medical device identifier system
Tweet Share on Facebook 11:01AM July 03, 2012 CommentWASHINGTON (AP) — Federal health regulators are proposing a new system to track millions of medical devices used in the U.S., an effort which they say will help protect patients by catching problematic implants earlier.
