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Meat supplier in China scandal has global reach

Jul 23, 2014

NEW YORK (AP) — It isn't a household name, but the company that's at the center of a food scandal in China helps make some of the world's most popular foods, including the Big Macs and Quarter Pounders served at McDonald's locations.

OSI Group, a privately-held company based in Aurora, Illinois,

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Stocks turn mostly higher as earnings roll in

Jul 23, 2014

By KEN SWEET, AP Markets Writer

NEW YORK (AP) — U.S. stock indexes were mostly higher in afternoon trading Wednesday as investors weighed positive earnings from the technology industry against disappointing news from Boeing and other companies. Biotechnology stocks were among the biggest gainers.

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NYC official: Thieves got into 1K StubHub accounts

Jul 23, 2014

By JENNIFER PELTZ, Associated Press

NEW YORK (AP) — The Manhattan district attorney says six people have been indicted in an international ring that managed to take over more than 1,000 StubHub users' accounts and fraudulently buy tickets to such prime events as Jay-Z and Elton John concerts, a New ...

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US economy, though sluggish, may now be sturdier

Jul 23, 2014

By The Associated Press

WASHINGTON (AP) — Out of a seemingly hollow recovery from the Great Recession, a more durable if still slow-growing U.S. economy has emerged.

That conclusion, one held by a growing number of economists, might surprise many people. After all, in the five years since the ...

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GM issues 6 more safety recalls

Jul 23, 2014

DETROIT (AP) — General Motors is issuing six more recalls covering a total of almost 718,000 vehicles in the U.S.

The latest recalls bring the total for GM so far this year to 60, affecting a record 29.7 million cars and trucks. GM already has passed the 22 million vehicles recalled by all ...

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Senate bill targets companies that move overseas

Jul 23, 2014

WASHINGTON (AP) — The Senate voted Wednesday to advance an election-year bill limiting tax breaks for U.S. companies that move operations overseas. But big hurdles remain.

The Senate voted 93-7 to begin debating the bill, which would prevent companies from deducting expenses related to moving ...

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Trump: DC hotel will be among world's best

Jul 23, 2014

WASHINGTON (AP) — Donald Trump says his new hotel in the Old Post Office building in downtown Washington "will be one of the fine ... and maybe the finest" hotels in the world.

Trump joined federal and local leaders on Wednesday morning for a ceremonial groundbreaking at the 115-year-old building.

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US stocks drift following mixed corporate earnings

Jul 23, 2014

NEW YORK (AP) — Stocks are little changed in midday trading as traders look over a mixed batch of corporate earnings.

Boeing fell 2 percent Wednesday after its revenue fell short of what analysts were expecting.

Apple rose 3 percent after its earnings came in ahead of forecasts. Apple sold 13 ...

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China detains employees of suspect meat seller

Jul 23, 2014

By JOE McDONALD, AP Business Writer

BEIJING (AP) — Five employees of a company accused of selling expired beef and chicken to McDonald's, KFC and other restaurants in China were detained by police Wednesday after an official said illegal activity was an organized effort by the supplier.

China's food ...

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IMF cuts forecast for US economic growth in 2014

Jul 23, 2014

WASHINGTON (AP) — The International Monetary Fund has shaved its forecast for U.S. economic growth this year, mostly because of a sharp contraction in the first quarter.

But the global lending organization still expects that growth accelerated in the April-June quarter and will remain healthy for ...

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Global stocks bolstered by US earnings, home sales

Jul 23, 2014

By The Associated Press

LONDON (AP) — Markets were steady Wednesday as the focus turned toward U.S. corporate earnings and as tensions between Russia and the West over the downing of a Malaysian jetliner in Ukraine eased.

In Europe, Britain's FTSE 100 closed flat at 6,798.15 while Germany's DAX ...

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Senate panel backs McDonald for VA secretary

Jul 23, 2014

WASHINGTON (AP) — A Senate panel on Wednesday endorsed former Procter & Gamble CEO Robert McDonald to be the new secretary of the Department of Veterans Affairs.

The Senate Veterans Affairs Committee unanimously backed McDonald, one day after a nomination hearing in which he faced no opposition.

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Agents get subsidized 'Obamacare' using fake IDs

Jul 23, 2014

WASHINGTON (AP) — Undercover investigators using fake identities were able to secure taxpayer-subsidized health insurance under President Barack Obama's health care law, congressional investigators said Wednesday.

The weak link seemed to be call centers that handled applications for frazzled ...

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European carriers suspend more Tel Aviv flights

Jul 23, 2014

BERLIN (AP) — Air France and Germany's two largest airlines on Wednesday canceled more flights to Tel Aviv because of ongoing safety concerns amid the fighting between Israel and Hamas.

Germany's Lufthansa and Air Berlin extended their cancelations through Thursday and Air France said it was ...

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New safety rules proposed to curb oil train fires

Jul 23, 2014

WASHINGTON (AP) — Thousands of older rail tank cars that carry crude oil would be phased out within two years under regulations proposed Wednesday in response to a series of fiery train crashes over the past year, including a runaway oil train that exploded in the Quebec town of Lac-Megantic,

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Despite sanctions call, UK approves arms to Russia

Jul 23, 2014

LONDON (AP) — Britain is still authorizing the export of arms and military equipment to Russia despite the government's call for tough sanctions over Moscow's arming of separatist rebels in Ukraine, a group of lawmakers said in a report Wednesday.

A group of legislative committees that oversee ...

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EU seeks energy efficiency to ease Russia gas link

Jul 23, 2014

BRUSSELS (AP) — The European Union's executive is proposing legislation to curb the energy use of households and firms by almost one third by 2030 to reduce greenhouse gas emissions and lower its dependence on gas imports, particularly those from Russia.

The Commission proposed Wednesday to ...

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PepsiCo 2Q profit drops but tops estimates

Jul 23, 2014

PURCHASE, N.Y. (AP) — PepsiCo Inc. said Wednesday that its profit fell by 2 percent on restructuring charges in its second quarter, but that sales volume ticked up for its snacks and drinks.

The company, which owns Frito-Lay, Gatorade and Quaker, raised its earnings-per-share outlook for year. It ...

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Delta 2Q profit rises 17 percent

Jul 23, 2014

ATLANTA (AP) — Delta Air Lines Inc. (DAL) on Wednesday reported earnings that climbed by 17 percent in its second quarter, and topped analysts' expectations.

The Atlanta-based company said net income increased to $801 million, or 94 cents per share, from $685 million, or 80 cents per share, in the ...

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Boeing 2Q profit climbs 52 percent

Jul 23, 2014

By The Associated Press

Boeing Co. (BA) on Wednesday reported profit that increased by 52 percent in its second quarter, and topped analysts' expectations.

The Chicago-based company said net income increased to $1.65 billion, or $2.24 per share, from $1.09 billion, or $1.41 per share, in the same ...

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