Business News
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International adoptions drop amid fraud crackdowns
Tweet Share on Facebook 1:24AM May 10, 2012 CommentHANOI, Vietnam (AP) — The number of international adoptions has fallen to its lowest point in 15 years, a steep decline attributed largely to crackdowns against baby-selling, a sputtering world economy and efforts by countries to place more children with domestic families.
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Foxconn building Shanghai HQ, aims at China market
Tweet Share on Facebook 12:59AM May 10, 2012 CommentSHANGHAI (AP) — Foxconn Technology Group, the world's biggest assembler of consumer electronics, began work Thursday on a Shanghai headquarters that it says will help spearhead its efforts to sell more in the China market.
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China's Huawei hopes to make a name for itself
Tweet Share on Facebook 12:01AM May 10, 2012 CommentNEW ORLEANS (AP) — Will Americans buy a Chinese smartphone? We're about to find out, as Huawei, one of the world's biggest phone makers, is planning a big push into U.S. cellphone stores.
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Trade, public anger sharpening Beijing-Manila spat
Tweet Share on Facebook 9:06PM May 09, 2012 Comment (1)BEIJING (AP) — The monthlong standoff between China and the Philippines over a South China Sea shoal is snowballing with hints of economic retaliation and sharpening public opinion that are narrowing the space for a negotiated settlement.
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News Corp 3Q beats Street despite probe costs
Tweet Share on Facebook 9:02PM May 09, 2012 CommentLOS ANGELES (AP) — Rupert Murdoch's News Corp., the global media conglomerate under fire for phone hacking and alleged bribery in Britain, posted a 47 percent increase in third-quarter net income thanks to strong performances at its U.S. pay TV networks and movie studio.
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Cisco's sobering forecast overshadows 3Q earnings
Tweet Share on Facebook 7:32PM May 09, 2012 CommentSAN FRANCISCO (AP) — Cisco raised the specter late Wednesday of a jarring slowdown in technology spending, alarming investors already fretting about the economy's fragile condition.
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SEC sues ex-Detroit mayor for influence peddling
Tweet Share on Facebook 7:21PM May 09, 2012 CommentWASHINGTON (AP) — Former Detroit Mayor Kwame Kilpatrick is facing federal civil charges of taking part in an influence-peddling scheme involving the city's public-employee pension funds.
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NY man admits illegally trading stock for 2nd time
Tweet Share on Facebook 7:04PM May 09, 2012 CommentNEW YORK (AP) — A onetime powerful biotechnology financier who was among America's wealthiest before a 1990s criminal fraud conviction pleaded guilty to fresh securities fraud charges Wednesday, admitting that his ban from acting as a securities broker or dealer didn't stop him from plunging illegally back into the world of biotech companies.
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Company recalls Nebraska lethal injection drug
Tweet Share on Facebook 6:47PM May 09, 2012 CommentLINCOLN, Neb. (AP) — A Swiss pharmaceutical company has issued a voluntary recall of a lethal injection drug held by Nebraska, but state officials said Wednesday they won't return the drug and the U.S. Food and Drug Administration says it won't enforce the company's decision.
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Honda wins appeal of small-claims hybrid judgment
Tweet Share on Facebook 6:39PM May 09, 2012 CommentLOS ANGELES (AP) — A judge overturned a nearly $10,000 small claims judgment against American Honda Motor Co. that was won by a car owner who said the automaker misrepresented that her hybrid Civic could get 50 miles per gallon, according to a ruling released Wednesday.
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US casinos rallying from recession woes, lows
Tweet Share on Facebook 6:18PM May 09, 2012 CommentATLANTIC CITY, N.J. (AP) — The nation's commercial casinos continued their slow-but-steady comeback from the recession last year, with revenues up 3 percent nationwide and jobs holding nearly steady, according to a report released Wednesday.
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Facebook gives more details on mobile usage
Tweet Share on Facebook 6:04PM May 09, 2012 CommentNEW YORK (AP) — Facebook says the number of people logging in is continuing to grow more quickly than the number of ads delivered.
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Macy's 1Q profit jumps 38 percent
Tweet Share on Facebook 5:31PM May 09, 2012 CommentNEW YORK (AP) — Macy's Inc.'s first-quarter profit rose a better-than-expected 38 percent. But investors sent its shares down nearly four percent because the department store chain mostly left its annual profit guidance intact.
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Postal Service: Will keep rural post offices open
Tweet Share on Facebook 5:23PM May 09, 2012 Comment (1)WASHINGTON (AP) — Bending to strong public opposition, the nearly bankrupt U.S. Postal Service on Wednesday backed off a plan to close thousands of rural post offices after May 15 and proposed keeping them open, but with shorter operating hours.
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Green Mtn. founder says he was caught off-guard
Tweet Share on Facebook 5:13PM May 09, 2012 CommentNEW YORK (AP) — The founder of Green Mountain Coffee Roasters Inc., who was ousted as chairman for a stock sale that violated company policy, said the transaction was triggered after he was caught off-guard by a swift drop in the coffee maker's stock price.
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US stocks fall as Europe doubts bubble to surface
Tweet Share on Facebook 4:37PM May 09, 2012 CommentFear of European debt is once again playing havoc with Wall Street.
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Fannie Mae earns $2.7B in Q1, will pay gov't $2.8B
Tweet Share on Facebook 4:25PM May 09, 2012 CommentWASHINGTON (AP) — U.S. mortgage giant Fannie Mae reported its first net income gain since it was taken over by the government during the 2008 financial crisis.
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Low staffing creates a balancing act for small biz
Tweet Share on Facebook 4:22PM May 09, 2012 CommentNEW YORK (AP) — If you work for a small business there's a good chance that, since the recession, you have taken on additional responsibilities and are working longer hours. Some of the work that used to be done by fellow employees may be getting farmed out to freelancers or other independent contractors.
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US wholesale stockpiles grew 0.3 percent in March
Tweet Share on Facebook 3:52PM May 09, 2012 CommentWASHINGTON (AP) — U.S. wholesalers increased their stockpiles more slowly in March after seeing less growth in sales.
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Fed approves Chinese bank purchase of US bank
Tweet Share on Facebook 3:41PM May 09, 2012 CommentWASHINGTON (AP) — The Federal Reserve has for the first time given approval for a large Chinese bank to purchase a U.S. bank. It also gave approval to two other large Chinese banks to expand their operations in the United States.
