Business News
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Germany raises forecast for 2012 tax revenues
Tweet Share on Facebook 10:32AM May 10, 2012 CommentBERLIN (AP) — Germany says it expects its tax income over the next few years to be slightly higher than previously predicted due to a healthy job market and rising personal incomes.
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US rate on 30-year mortgage hits record 3.83 pct.
Tweet Share on Facebook 10:22AM May 10, 2012 CommentWASHINGTON (AP) — Average U.S. rates for 30-year and 15-year fixed mortgages fell to fresh record lows this week. Cheap mortgage rates have made home-buying and refinancing more affordable than ever for those who can qualify.
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What if Apple Were Part of the Dow?
Tweet Share on Facebook 10:17AM May 10, 2012 Comment
A police officer stands watch near a Apple's logo after they sealed off the area of its store in Beijing Friday, Jan. 13, 2012. An angry crowd shouted and threw eggs at Apple's Beijing flagship store after it failed to open on schedule to sell the popular smartphones.
Apple is the world's most valuable company. The Dow Jones industrial average is probably the world's best-known stock index. So don't they deserve each other?
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Ford adds 32,400 Windstars to safety recalls
Tweet Share on Facebook 10:11AM May 10, 2012 CommentDETROIT (AP) — Ford Motor Co. has added 32,400 Windstar minivans to two safety recalls involving undercarriage parts that can rust and break.
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US trade gap widens at fastest pace in 10 months
Tweet Share on Facebook 9:31AM May 10, 2012 CommentWASHINGTON (AP) — The U.S. trade deficit rose in March at the fastest rate in 10 months. A rise in consumer goods lifted imports to a record level, outpacing a solid gain in U.S. exports.
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Egypt secures financial aid from Saudi Arabia
Tweet Share on Facebook 8:19AM May 10, 2012 CommentCAIRO (AP) — Saudi Arabia on Thursday signed a series of deals with Cairo aimed at helping stabilizing Egypt's struggling economy days after the worst diplomatic tiff between the two was healed.
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UK reverses decision on US fighter jet deal
Tweet Share on Facebook 7:24AM May 10, 2012 CommentLONDON (AP) — Britain's defense secretary is ditching proposals to buy a particular type of F-35 Joint Strike Fighter — reverting to an original plan previously criticized by Prime Minister David Cameron.
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ArcelorMittal net profit drops in 1st quarter
Tweet Share on Facebook 7:21AM May 10, 2012 CommentBRUSSELS (AP) — ArcelorMittal, the world's biggest steel maker, posted a sharp drop in first-quarter net profit Thursday, announcing earnings of $11 million compared with $1.069 billion for the same period a year ago.
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China's trade surplus widens in April
Tweet Share on Facebook 7:13AM May 10, 2012 CommentSHANGHAI (AP) — China's trade surplus widened in April as imports barely budged, sharpening fears that the world's second-biggest economy is not doing enough to stimulate domestic demand and counter a slowdown.
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Sony reports record annual loss
Tweet Share on Facebook 7:09AM May 10, 2012 CommentTOKYO (AP) — Sony Corp. racked up a record annual loss of 457 billion yen ($5.7 billion) in its fourth straight year of red ink as the once-glorious maker of the Walkman and PlayStation struggles toward a turnaround under a new president.
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Inflatable Pool Slides Recalled After Death
Tweet Share on Facebook 6:36AM May 10, 2012 Comment
Hotels at exotic resort reflecting in pools
WASHINGTON (AP) — About 21,000 inflatable water slides for in-ground pools are being recalled after the death of a 29-year-old mother.
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Hopes rise for Greece power-sharing talks
Tweet Share on Facebook 6:19AM May 10, 2012 CommentATHENS, Greece (AP) — Hopes rose slightly Thursday that Greece could end its post-electoral deadlock without having to hold new elections, as international partners warned that Athens must stick to its hugely unpopular austerity program or abandon the euro.
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Spain stocks rebound on bank nationalization plan
Tweet Share on Facebook 6:00AM May 10, 2012 CommentMADRID (AP) — Spanish stocks rebounded Thursday while the pressure on the country's government bonds eased, as investors reacted positively to the government's confirmation that it will nationalize the country's fourth largest bank.
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PM's ex-aide denies he was hired for Murdoch ties
Tweet Share on Facebook 5:35AM May 10, 2012 CommentLONDON (AP) — The secretive spin doctor who helped bring Prime Minister David Cameron to power made a rare public appearance Thursday at Britain's media ethics inquiry — denying that he got the job to boost Cameron's clout with Rupert Murdoch's powerful media empire.
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Asian stocks lower as traders eye Greece, China
Tweet Share on Facebook 4:59AM May 10, 2012 CommentSINGAPORE (AP) — Asian stock markets were lower Friday as traders eyed political upheaval in Greece and signs of slowing economic growth in China.
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Indonesian climbers near Russian plane wreckage
Tweet Share on Facebook 4:26AM May 10, 2012 CommentMOUNT SALAK, Indonesia (AP) — Rescue teams used climbing gear to scale the nearly sheer slopes of a dormant Indonesian volcano, hoping Friday to reach the wreckage of a Russian-made jetliner that crashed with 45 people aboard during a demonstration flight for potential buyers.
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Indian wheat rots in the open after bumper harvest
Tweet Share on Facebook 4:25AM May 10, 2012 CommentNEW DELHI (AP) — In fields along a northern Indian highway, mountains of grain have turned black with mildew after getting soaked in the rain.
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New rules for China audit JVs; SEC sues over data
Tweet Share on Facebook 3:50AM May 10, 2012 CommentSHANGHAI (AP) — China is issuing new rules requiring that a Chinese citizen heads the mainland Chinese operations of the world's big four auditing companies.
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Higher oil prices boost Repsol profit in Q1
Tweet Share on Facebook 3:17AM May 10, 2012 CommentMADRID (AP) — Spanish oil company Repsol saw its first-quarter profits rise 12.4 percent to €643 million ($833 million), excluding results from YPF and Repsol YPF Gas, the Argentine units nationalized by the Buenos Aires government.
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Emirates airline profits hit by higher fuel bill
Tweet Share on Facebook 2:41AM May 10, 2012 CommentDUBAI, United Arab Emirates (AP) — Emirates Group, the parent company of the Middle East's biggest airline, said Thursday its annual profit dropped 61 percent as soaring fuel costs ate into increased sales.
