Business News
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FDA: BPA no longer allowed in baby bottles
Tweet Share on Facebook 5:46PM July 17, 2012 CommentWASHINGTON (AP) — The federal government announced Tuesday that baby bottles and sippy cups can no longer contain bisphenol-A, or BPA, the plastic chemical which has been subject to years of scientific scrutiny.
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J&J 2Q profit down by half on lower sales, charges
Tweet Share on Facebook 5:37PM July 17, 2012 CommentHealth care giant Johnson & Johnson, struggling with tough market conditions, ongoing manufacturing problems and other issues, lowered its profit forecast for the year after posting second-quarter net income that dropped by half due to a slew of litigation and acquisition-related charges.
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Report: US states' financial woes eroding services
Tweet Share on Facebook 5:35PM July 17, 2012 CommentWASHINGTON (AP) — U.S. states face long-term budget burdens that are already limiting their ability to pay for basic services such as law enforcement, local schools and transportation, a report released Tuesday said.
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Coca-Cola's revenue up _ but costs eat into profit
Tweet Share on Facebook 5:35PM July 17, 2012 CommentNEW YORK (AP) — The Coca-Cola Co. is selling more of its sodas, sports drinks and bottled waters in most parts of the world, with growth particularly strong in emerging markets.
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Another tough quarter for once-mighty Goldman
Tweet Share on Facebook 5:30PM July 17, 2012 CommentNEW YORK (AP) — Another tough quarter, another reminder for Goldman Sachs that it's not just its reputation that's under attack.
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Stocks rise; Mattel, Coke among earnings winners
Tweet Share on Facebook 4:46PM July 17, 2012 CommentNEW YORK (AP) — Stronger earnings from Mattel, Coca-Cola and other big companies lifted the Standard & Poor's 500 index on Tuesday for only the fourth day this month.
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Small study: Drug may help stabilize Alzheimer's
Tweet Share on Facebook 4:02PM July 17, 2012 CommentFor the first time, researchers are reporting that a treatment might help stabilize Alzheimer's disease for as much as three years, although the evidence is weak and in only four patients.
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Oil price rises on housing outlook
Tweet Share on Facebook 3:53PM July 17, 2012 CommentNEW YORK (AP) — A brighter outlook for U.S. homebuilders and rising industrial production pushed the price of oil higher Tuesday for the fifth straight day.
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G4S hurts its future with Olympic contract debacle
Tweet Share on Facebook 3:51PM July 17, 2012 CommentLONDON (AP) — Just months ago, a senior executive from the G4S security firm boasted that the London Olympics would make his British company as synonymous with major events as Switzerland is with watches.
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Italy's Monti warns Sicily may default
Tweet Share on Facebook 3:35PM July 17, 2012 CommentROME (AP) — Premier Mario Monti says he's "gravely concerned" that Italy's autonomous region of Sicily may soon default.
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Lawmakers seize on report detailing impact of cuts
Tweet Share on Facebook 3:29PM July 17, 2012 CommentWASHINGTON (AP) — Republicans and Democrats seized on a new report estimating that automatic budget cuts will cost the economy 2 million jobs to level election-year charges that underscored the deep political divide over how to avert the looming crisis.
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Spain's royals take pay cuts in austerity drive
Tweet Share on Facebook 3:25PM July 17, 2012 CommentMADRID (AP) — Spain's king and crown prince are taking pay cuts as part of the latest round of austerity measures meted out by the country's government as it attempts to control its deficit during a recession, the Royal Palace said Tuesday.
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Bank of England: no hint of LIBOR fraud in 2008
Tweet Share on Facebook 1:53PM July 17, 2012 CommentLONDON (AP) — The governor of the Bank of England said Tuesday that U.S. authorities did not show him any evidence of manipulation of a key market rate when they raised concerns in 2008.
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EU opens antitrust investigation of Microsoft
Tweet Share on Facebook 1:26PM July 17, 2012 CommentBRUSSELS (AP) — The EU's executive body, the European Commission, announced Tuesday that it was opening an investigation into whether Microsoft has kept the antitrust commitments it made in 2009, and warned that penalties for non-compliance would be "severe."
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Opel names strategy exec Sedran as interim chief
Tweet Share on Facebook 1:12PM July 17, 2012 CommentFRANKFURT, Germany (AP) — General Motors' lossmaking Opel subsidiary has named restructuring expert Thomas Sedran as interim CEO while it looks for a permanent replacement for Karl-Friedrich Stracke, who abruptly resigned last week.
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New Greek cuts "almost impossible"
Tweet Share on Facebook 1:05PM July 17, 2012 CommentATHENS, Greece (AP) — The head of a party in Greece's new coalition government on Tuesday said the country's recession made it "almost impossible" for it to achieve the €11.5 billion ($14.1 billion) in cuts over the next two years demanded by its rescue creditors.
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Iran admits sanctions are hurting
Tweet Share on Facebook 1:05PM July 17, 2012 CommentTEHRAN, Iran (AP) — Iran's parliament speaker has acknowledged that tightened sanctions are hurting Iran.
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US homebuilder confidence vaults to 5-year high
Tweet Share on Facebook 12:02PM July 17, 2012 CommentConfidence among U.S. homebuilders is swelling to a five-year high, with many now anticipating that sales of new homes will strengthen this year even as signs point to a slowing economy.
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Cheaper gas keeps US consumer prices flat
Tweet Share on Facebook 11:58AM July 17, 2012 CommentWASHINGTON (AP) — Consumer prices were unchanged in June, held down by cheaper gas. Outside the volatile food and energy categories, inflation was mild.
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German court tosses Apple design claim v Motorola
Tweet Share on Facebook 11:34AM July 17, 2012 CommentBERLIN (AP) — A German court has dismissed an Apple lawsuit seeking to ban the sale of Motorola's Xoom tablet computer throughout the European Union.
