Business News
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U.S. 30-Year Mortgage Rate Falls to Record Low
Tweet Share on Facebook 11:11AM May 24, 2012 Comment
Mortgage application surrounded by calculator and pen.
WASHINGTON (AP) — The average U.S. rate for the 30-year fixed mortgage fell to a record low for a fourth straight week. Cheap mortgages have helped boost home sales modestly this year.
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Britain's Clegg warns of impact of Greek euro exit
Tweet Share on Facebook 11:06AM May 24, 2012 CommentBERLIN (AP) — Britain's Deputy Prime Minister Nick Clegg warned Thursday that a Greek exit from the eurozone could have drastic consequences for all of Europe, and called for a new "grand bargain" to help even the field between the monetary union's haves and have-nots.
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Repsol says big oil find off Brazil's coast
Tweet Share on Facebook 9:59AM May 24, 2012 CommentSAO PAULO (AP) — Spanish oil company Repsol says an offshore block near Brazil's coast contains at least 1.2 billion barrels of oil equivalent, one of the globe's largest finds this year.
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Putin defends curtailing of privatization plans
Tweet Share on Facebook 9:29AM May 24, 2012 CommentMOSCOW (AP) — Russian President Vladimir Putin on Thursday defended his decision to withdraw lucrative government stakes in energy companies from a list of assets to be privatized.
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US trade rep: Euro struggles weigh on trade talks
Tweet Share on Facebook 7:25AM May 24, 2012 CommentPARIS (AP) — The U.S. trade chief says Europe's debt struggles and resulting market turmoil are weighing on global talks about loosening trade barriers.
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Obama to Promote Energy Plan in Iowa
Tweet Share on Facebook 7:18AM May 24, 2012 Comment
Barack Obama delivers remarks at the University of Iowa Field House, Iowa City, Iowa.
SAN JOSE, Calif. (AP) — As President Barack Obama readies for a return to the Iowa State Fairgrounds, his campaign is reminding voters that it was in that same spot where Republican rival Mitt Romney declared last year that "corporations are people."
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Facebook Shares Stabilizing, But Probes Mount
Tweet Share on Facebook 7:01AM May 24, 2012 Comment
The entrance of Facebook headquarters in Menlo Park, California.
NEW YORK (AP) — Facebook's initial public offering is the subject of two congressional inquiries and mounting lawsuits as the social network enters its fifth day of public trading.
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SABMiller profits boosted by Latin America, Africa
Tweet Share on Facebook 6:03AM May 24, 2012 CommentLONDON (AP) — SABMiller, the world's second-largest brewer, has reported a 75 percent increase in full-year profit led by strong growth in Latin America and Africa.
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South Africa's Soweto gets its fashion week
Tweet Share on Facebook 5:29AM May 24, 2012 CommentJOHANNESBURG (AP) — Struggling but deserving designers got a chance to show work inspired by the creativity and history of South Africa's most famous township as Soweto's first fashion week opened Thursday.
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Land conflicts stunt Vietnam urban planning dreams
Tweet Share on Facebook 3:38AM May 24, 2012 CommentHANOI, Vietnam (AP) — Do Quoc Tai is an unlikely pain in the side of Vietnam's ruling Communist Party. Although the construction foreman earns just $150 per month, he and his neighbors have strong-armed the government, blocking a major ring road that's a symbol of the country's push to modernize.
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A smoke-free country? New Zealand taxes aim for it
Tweet Share on Facebook 2:18AM May 24, 2012 Comment (1)WELLINGTON, New Zealand (AP) — There are smoke-free bars, smoke-free parks, even smoke-free college campuses. But a smoke-free country?
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'G.I. Joe' gets new marching orders, moves to 2013
Tweet Share on Facebook 2:06AM May 24, 2012 CommentLOS ANGELES (AP) — Just a month before its June release in the U.S., Paramount Pictures delayed the debut of "G.I. Joe: Retaliation" by nine months after another movie based on a Hasbro plaything was trounced at the box office by "The Avengers."
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Yahoo Looks to Shake Up Search, Web Browsing
Tweet Share on Facebook 12:17AM May 24, 2012 Comment
Yahoo! headquarters in Sunnyvale, California.
SAN FRANCISCO (AP) — Joining the battle to redefine Internet search, Yahoo is taking aim with a new browser enhancement it calls "Axis."
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HP's Missteps Culminate in Loss of 27,000 Jobs
Tweet Share on Facebook 12:14AM May 24, 2012 Comment
Students in computer lab.
SAN FRANCISCO (AP) — Hewlett-Packard CEO Meg Whitman has quantified the painful price that must be paid for the missteps of her predecessors as she tries to turn around the Silicon Valley pioneer. The bungling will wipe out 27,000 jobs so HP can save enough money to lift its earnings and invest in the development of more profitable products and service.
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Facebook, JPMorgan gaffs erode faith in Wall St.
Tweet Share on Facebook 12:13AM May 24, 2012 CommentNEW YORK (AP) — Wall Street appears bent on convincing Main Street that the game is rigged.
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US reaches pollution agreement at BP Indiana plant
Tweet Share on Facebook 11:05PM May 23, 2012 CommentWHITING, Ind. (AP) — BP Products North America Inc. has agreed to install $400 million in new air pollution controls at its northwestern Indiana oil refinery and pay an $8 million fine under a deal announced Wednesday with the government and environmental groups.
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New Zealand says 'zero' budget will bring surplus
Tweet Share on Facebook 10:09PM May 23, 2012 CommentWELLINGTON, New Zealand (AP) — New Zealand's government promises to tackle rising debt and return the country's books to the black in two years.
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2 panels to launch review of Facebook IPO
Tweet Share on Facebook 9:50PM May 23, 2012 CommentWASHINGTON (AP) — Two congressional panels are reviewing Facebook's high-profile stock offering last week amid allegations that the bank handling the IPO may have provided only select clients with a negative assessment of the company.
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HP to cut 27,000 jobs to save up to $3.5B annually
Tweet Share on Facebook 7:33PM May 23, 2012 CommentSAN FRANCISCO (AP) — Hewlett-Packard Co. is cutting 27,000 jobs in an effort to recover from management missteps that hobbled the Silicon Valley pioneer as its rivals raced ahead with more innovative products and services.
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Rio issues land titles to slum residents
Tweet Share on Facebook 6:28PM May 23, 2012 CommentRIO DE JANEIRO (AP) — The home Jose Nazare Braga built in the Rocinha shantytown is his life's work, an investment that grew from a shack to a three-story building over 30 years. A restaurant and a paper-goods store on the ground floor provide income, and his children, grandchildren and great-grandchildren live above.
