Business News
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Bank of America bad-loan provisions at 2007 level
Tweet Share on Facebook 4:10PM April 19, 2012 CommentNEW YORK (AP) — Bank of America said Thursday that it set aside less money to cover bad loans in the first three months of the year than it has since before the 2008 financial crisis.
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Splunk doubles in debut, but some trades canceled
Tweet Share on Facebook 3:45PM April 19, 2012 CommentNEW YORK (AP) — Splunk shares more than doubled in their first day of trading Thursday, but extreme volatility prompted the Nasdaq to halt trading immediately after the shares hit the market. A subsequent error at the NYSE's electronic exchange resulted in a batch of trades being canceled.
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Oil rises to near $103 amid uneven US recovery
Tweet Share on Facebook 3:14PM April 19, 2012 CommentSINGAPORE (AP) — Oil prices rose to near $103 a barrel Friday in Asia amid signs the U.S. economic recovery remains uneven.
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Accounting charge trims Morgan Stanley revenue
Tweet Share on Facebook 3:00PM April 19, 2012 CommentNEW YORK (AP) — Morgan Stanley reported earnings that far exceeded investors' forecasts Thursday, sending its stock higher even as the rest of the market fell.
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New York Times posts higher 1Q net income on gains
Tweet Share on Facebook 2:25PM April 19, 2012 CommentNEW YORK (AP) — The New York Times Co. reported sharply higher net income for its first quarter on Thursday, helped by a large gain from the sale of its Regional Media Group and increases in print and digital circulation revenue.
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iPhone Bills Boost Verizon Revenue Growth
Tweet Share on Facebook 2:03PM April 19, 2012 Comment
Apple iPhone G3
NEW YORK (AP) — Holiday sales of the iPhone 4S started to boost revenue at Verizon Communications Inc. in the latest quarter, as subscribers settled in to paying their new monthly bills.
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Starbucks to stop using 'crushed bug' dye
Tweet Share on Facebook 2:02PM April 19, 2012 CommentNEW YORK (AP) — Starbucks Corp. says it will stop using a red dye in its drinks that is derived from crushed bugs.
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Lagarde urges direct support for European banks
Tweet Share on Facebook 1:40PM April 19, 2012 CommentWASHINGTON (AP) — The head of the International Monetary Fund says the officials managing Europe's debt bailout fund should consider providing financial support directly to European banks that need more capital reserves.
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Insurer UnitedHealth's 1Q profit climbs 3 percent
Tweet Share on Facebook 1:02PM April 19, 2012 CommentUnitedHealth Group Inc.'s first-quarter net income rose 3 percent, and the insurer raised its 2012 earnings forecast as modest growth in health care use helped balance price hikes.
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Momentum in US hiring, home sales appears to slow
Tweet Share on Facebook 12:28PM April 19, 2012 CommentWASHINGTON (AP) — Momentum in U.S. hiring and home sales appears to be slowing, according to fresh data.
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French fear of markets stirs presidential campaign
Tweet Share on Facebook 11:59AM April 19, 2012 CommentPARIS (AP) — News that foreign investors would be allowed to take bets on French debt has been greeted with cries from the country's politicians and media that a "weapon of mass destruction against France" had been unleashed in what amounted to a "financial coup d'etat".
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American Airlines' parent lost $1.7 billion in 1Q
Tweet Share on Facebook 11:54AM April 19, 2012 CommentFORT WORTH, Texas (AP) — The parent company of American Airlines says it lost $1.66 billion in the first quarter, mostly on costs related to its bankruptcy restructuring.
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EU approves Sony's acquisition of part of EMI
Tweet Share on Facebook 11:45AM April 19, 2012 CommentBRUSSELS (AP) — The European Union's competition regulator approved on Thursday a deal by Sony/ATV and other investors to buy part of the famous British music company EMI Group Ltd.
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Gauge of US economy rose 0.3 percent in March
Tweet Share on Facebook 10:55AM April 19, 2012 CommentWASHINGTON (AP) — A measure of future U.S. economic activity rose in March for the sixth straight month, a sign that the economy may be gaining momentum.
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US home sales fell in March, as market stays weak
Tweet Share on Facebook 10:51AM April 19, 2012 CommentWASHINGTON (AP) — Americans bought fewer previously owned homes in March, a reminder that the housing market remains weak.
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US rate on 30-year mortgage rises to 3.90 percent
Tweet Share on Facebook 10:22AM April 19, 2012 CommentWASHINGTON (AP) — The average rate on the 30-year fixed mortgage stayed near its lowest level on record, keeping home-buying and refinancing affordable.
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CVR Energy signs deal with Icahn on tender offer
Tweet Share on Facebook 9:01AM April 19, 2012 CommentSUGAR LAND, Texas (AP) — Oil refiner CVR Energy Inc. has signed a deal with billionaire investor Carl Icahn that would allow him to complete his $30 per share tender offer. CVR shares jumped 8 percent in premarket trading Thursday.
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French borrowing costs edge up in debt auction
Tweet Share on Facebook 6:38AM April 19, 2012 CommentPARIS (AP) — France saw its borrowing costs edge up in bond auctions Thursday that sold €10.5 billion ($13.8 billion) in medium-term debt, as concerns about Europe's debt crisis resurface.
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Spain-Argentina oil spat threatens special ties
Tweet Share on Facebook 6:22AM April 19, 2012 CommentMADRID (AP) — Argentina's hostile takeover of its top energy company from Spain's Repsol marks a turning point in traditionally cordial relations between two countries that have built strong ties over a century. As the spat escalates, some fear the damage may be lasting.
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Nokia posts $1.2 billion loss as sales plummet
Tweet Share on Facebook 6:20AM April 19, 2012 CommentHELSINKI (AP) — Struggling cellphone maker Nokia has suffered one of its worst quarterly results ever, blaming tough competition for a huge €929 million ($1.2 billion) net loss as sales plunged, especially in the smartphone market.
