Business News
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Dynegy files for bankruptcy protection
Tweet Share on Facebook 4:45PM July 06, 2012 CommentNEW YORK (AP) — Dynegy Inc. said Friday that it has filed for bankruptcy protection as part of a plan to reorganize after years of wrestling with falling electricity prices.
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Retailers sue Pfizer, charge generic Lipitor delay
Tweet Share on Facebook 4:40PM July 06, 2012 CommentTRENTON, N.J. (AP) — Five large drug and grocery chains are suing Pfizer Inc. and a second drugmaker, alleging they conspired to delay sales of cheap generic versions of the blockbuster cholesterol drug Lipitor.
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New Greek prime minister outlines crisis policy
Tweet Share on Facebook 1:55PM July 06, 2012 CommentATHENS, Greece (AP) — Greece's new three-party coalition government is ready to carry out long-delayed structural reforms, Prime Minister Antonis Samaras said Friday, as he acknowledged that the deficit reduction program has gone off target.
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US jobs data add to markets' growth concerns
Tweet Share on Facebook 12:26PM July 06, 2012 CommentLONDON (AP) — Stock markets slid while the euro fell to a two year low on Friday as investors fretted about the global economy following worse than expected U.S. jobs figures.
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U.S. Stocks Drop After Weak June Jobs Report
Tweet Share on Facebook 9:46AM July 06, 2012 Comment
MoneyHP-Carousel -- Closeup of a market board
NEW YORK (AP) — Stocks are falling sharply at the opening of trading on Wall Street after the U.S. government reported that only 80,000 jobs were created in June, the third straight month of weak hiring.
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U.S. Employers Only Add 80,000 Jobs
Tweet Share on Facebook 9:41AM July 06, 2012 Comment
A job seeker waits in line to meet with a recruiter during a career fair in Concord, Calif.
WASHINGTON (AP) — U.S. employers added only 80,000 jobs in June, a third straight month of weak hiring that shows the economy is still struggling three years after the recession ended.
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Spanish, Italian borrowing rates rising again
Tweet Share on Facebook 9:35AM July 06, 2012 CommentMADRID (AP) — Borrowing rates for Spain and Italy rose to distressing levels again on Friday, signaling a resurgence in concern over Europe's debt crisis just one week after markets cheered leaders' decision to help financially weaker states.
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Fraud Agency Opens Criminal Probe of Barclays
Tweet Share on Facebook 9:21AM July 06, 2012 Comment
Robert E. Diamond Jr., CEO designate of Barclays PLC, attends the Clinton Global Initiative, Wednesday, Sept. 22, 2010 in New York.
LONDON (AP) — Britain's Serious Fraud Office says it has formally opened a criminal investigation of Barclays' manipulation of a key market interest rate.
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Oil Down to Near $85 After Weak U.S. Jobs Figures
Tweet Share on Facebook 9:07AM July 06, 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.
Oil fell below $86 a barrel Friday as concerns over the global economy dominated trading.
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Macau's Melco in $1B Philippine casino project
Tweet Share on Facebook 8:21AM July 06, 2012 CommentHONG KONG (AP) — Macau gambling company Melco Crown Entertainment is teaming up with the Philippines' richest man to develop a $1 billion casino resort in Manila in a sign of the industry's plans for rapid expansion in Asia.
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China: Don't let US auto case in WTO hurt ties
Tweet Share on Facebook 7:34AM July 06, 2012 CommentBEIJING (AP) — China's government said Friday it will "properly handle" a U.S. complaint to the World Trade Organization about its anti-dumping duties on auto imports and doesn't want the latest in a string of trade disputes to harm relations.
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Largarde says IMF to cut global growth forecast
Tweet Share on Facebook 7:26AM July 06, 2012 CommentTOKYO (AP) — IMF Managing Director Christine Lagarde said Friday that the fund will cut its forecast for global economic growth in a quarterly assessment to be released later this month.
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German industrial production rebounds in May
Tweet Share on Facebook 6:23AM July 06, 2012 CommentBERLIN (AP) — Germany says its industrial production rebounded in May — growing 1.6 percent compared with the previous month.
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Portugal court blocks public sector wage cuts
Tweet Share on Facebook 5:52AM July 06, 2012 CommentLISBON, Portugal (AP) — Portugal's Constitutional Court has struck down a government measure to cut public sector wages, delivering a setback to the bailed-out country's efforts to reduce its budget deficit.
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AP Interview: AutoChina tycoon baffled by US probe
Tweet Share on Facebook 5:21AM July 06, 2012 CommentSHANGHAI (AP) — One of China's biggest commercial vehicle dealerships is among the dozens of Chinese companies with shares listed in the U.S. that have been targeted by short-sellers for alleged financial abuses or probed by regulators. Its case highlights how gray shades of business dealings in China can run afoul of American rules in black and white.
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Tokyo conference crucial to future Afghan aid
Tweet Share on Facebook 3:16AM July 06, 2012 CommentKABUL, Afghanistan (AP) — Afghanistan will seek at least $4 billion from international donors this weekend at a crucial aid conference aimed at propping up the country after most foreign combat troops leave at the end of 2014.
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Samsung Tips Record-High Profit for 2nd Quarter
Tweet Share on Facebook 2:53AM July 06, 2012 Comment
The Samsung Epic 4G
SEOUL, South Korea (AP) — Smartphones powered Samsung Electronics Co. to record quarterly earnings, but its shares fell Friday as lower-than-expected overall sales underlined the threat from Europe's economic malaise.
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Asia stocks fall despite global stimulus measures
Tweet Share on Facebook 11:53PM July 05, 2012 CommentSINGAPORE (AP) — Asian stocks were mostly lower Friday as investors brushed off monetary stimulus measures by China, Europe and Britain as insufficient to reverse a global economic slowdown.
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US hiring outlook improves, but economy still weak
Tweet Share on Facebook 11:48PM July 05, 2012 CommentWASHINGTON (AP) — The outlook for the U.S. job market brightened a little Thursday after the government said fewer people applied for unemployment benefits last week and surveys of private companies showed hiring increased in June.
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Samsung tips record-high profit for 2nd quarter
Tweet Share on Facebook 10:47PM July 05, 2012 CommentSEOUL, South Korea (AP) — Samsung Electronics Co., the world's largest maker of memory chips, mobile phones, flat-screen panels and televisions, said Friday that its preliminary second-quarter operating profit jumped nearly 80 percent from a year ago to a record high. Analysts said the sharp rise was driven by Galaxy smartphone sales.
