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Obamacare hit by ruling, but subsidies to continue

Jul 22, 2014

WASHINGTON (AP) — President Barack Obama's health care law is enmeshed in another big legal battle after two federal appeals courts issued contradictory rulings on a key financing issue within hours of each other Tuesday.

A divided court panel in Washington called into question the subsidies that ...

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US job-training review emphasizes data, employers

Jul 22, 2014

WASHINGTON (AP) — As the U.S. economy adds new jobs, Americans must have the skills to fill those jobs, President Barack Obama said Tuesday.

Obama spoke at a signing ceremony for bipartisan job-training legislation aimed at improving business engagement and accountability in federally funded ...

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Contrarian's case: Why US could dip into recession

Jul 22, 2014

By BERNARD CONDON, AP Business Writer

NEW YORK (AP) — Just as the U.S. economy is strengthening, other countries are threatening to drag it down.

Employers in the U.S. are creating jobs at the fastest pace since the late 1990s and the economy finally looks ready to expand at a healthy rate. But ...

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Amid sanctions, France in warship sale to Russia

Jul 22, 2014

By SYLVIE CORBET

PARIS (AP) — France says it will go ahead with the sale of a warship to Russia despite calls for an arms embargo against the country, highlighting how Europe's strong business ties are hindering its ability to punish Moscow over the crisis in Ukraine.

Western powers say Russia is ...

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McDonald's profit slips; US sales decline

Jul 22, 2014

OAK BROOK, Ill. (AP) — McDonald's Corp. said its profit slipped in the second quarter as sales in the U.S. continued to flag.

The world's biggest hamburger chain has been struggling to boost sales in its flagship market amid intensifying competition, changing eating habits and the persistent ...

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Coke's sales miss estimates as Diet Coke flags

Jul 22, 2014

ATLANTA (AP) — Coca-Cola Co. reported sales that fell short of Wall Street estimates on Tuesday as demand weakened for Diet Coke in North America.

Globally, the world's biggest beverage maker, said sales volume rose 3 percent in the second quarter, boosted by gains in places including China, India ...

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US airlines scrap Israel flights over missile fear

Jul 22, 2014

By The Associated Press

Two U.S. airlines cancelled all flights to Israel until further notice, after a rocket landed near Tel Aviv's Ben Gurion Airport.

Delta Air Lines and United Airlines said Tuesday they are suspending service between the U.S. and Israel indefinitely. US Airways scrapped its ...

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US home sales increase 2.6 percent in June

Jul 22, 2014

WASHINGTON (AP) — Sales of previously owned homes rose for a third straight month in June, pushing activity to the highest level in eight months and providing evidence that housing is regaining lost momentum.

The National Association of Realtors said Tuesday that sales of existing homes increased ...

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US stocks climb as earnings reports roll in

Jul 22, 2014

By MATTHEW CRAFT, AP Business Writer

NEW YORK (AP) — Solid earnings for a range of companies helped nudge the stock market higher in early Tuesday trading. The restaurant chain Chipotle and Comcast, the giant cable company, surged after reporting better results than Wall Street expected.

KEEPING ...

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Stocks open higher; Comcast, Lockheed gain

Jul 22, 2014

NEW YORK (AP) — U.S. stocks are moving higher in early trading as more companies turn in solid earnings reports.

Comcast rose 1.3 percent after reporting higher profits than investors were expecting. The giant cable TV company signed up more subscribers for Internet service.

Defense contractor ...

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Saudi stock market to allow foreign investment

Jul 22, 2014

RIYADH, Saudi Arabia (AP) — Saudi Arabia's Cabinet has approved opening the country's stock market to foreign investors next year.

The Cabinet decision late Monday paves the way for foreign financial institutions to directly buy and sell stocks listed on Saudi Arabia's $530 billion Tadawul All ...

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Credit Suisse in steep loss after US tax case

Jul 22, 2014

GENEVA (AP) — Credit Suisse, Switzerland's second-biggest bank, posted a second-quarter net loss of 700 million Swiss francs ($779 million) Tuesday after paying the largest penalty ever imposed in a U.S. criminal tax case.

The steep loss contrasted sharply with the profit of 1.045 billion francs ...

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Comcast 2Q earnings top views on Internet hookups

Jul 22, 2014

PHILADELPHIA (AP) — Comcast Corp.'s second-quarter net income rose 15 percent to nearly $2 billion as it added high-speed Internet customers at a faster pace than a year ago and video subscriber losses moderated.

The nation's largest cable provider said Tuesday that net income rose to $1.99 ...

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CIT Group buying OneWest Bank in $3.4B deal

Jul 22, 2014

NEW YORK (AP) — CIT Group is buying regional bank OneWest Bank in a $3.4 billion cash-and-stock deal.

OneWest, whose parent company is IMB Holdco LLC, runs 73 retail branches in southern California. The bank is privately owned.

IMB shareholders will receive $2 billion in cash and 31.3 million CIT ...

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Detroit retirees back pension cuts by a landslide

Jul 22, 2014

DETROIT (AP) — A year after filing for bankruptcy, Detroit is building momentum to get out, especially after workers and retirees voted in favor of major pension changes just a few weeks before a judge holds a crucial trial that could end the largest public filing in U.S. history.

Pension cuts were ...

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Oil gains further on concerns over Ukraine, Gaza

Jul 22, 2014

By The Associated Press

The price of oil rose above $103 a barrel Tuesday on persisting jitters over the situation in Gaza and the standoff over the shooting down of a Malaysian airliner in Ukraine.

U.S. benchmark crude for September delivery was up 21 cents to $103.06 a barrel at 0615 GMT in ...

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Asia shares rise as Ukraine plane tensions ease

Jul 22, 2014

By ELAINE KURTENBACH, AP Business Writer

TOKYO (AP) — Asian shares rose Tuesday as tensions over the downing of a passenger jet in Ukraine eased after pro-Moscow separatists released a train packed with bodies and handed over the aircraft's black boxes.

Hong Kong's Hang Seng added 1.2 percent to ...

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China orders nationwide probe of meat supplier

Jul 21, 2014

By JOE McDONALD, AP Business Writer

BEIJING (AP) — China's food safety agency on Tuesday announced a nationwide inspection of processing factories and meat suppliers used by a company accused of selling expired beef and chicken to McDonald's and KFC.

The weekend report by a Shanghai TV station that ...

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Rebels release train with bodies from downed jet

Jul 21, 2014

By NICOLAS GARRIGA and NICOLAE DUMITRACHE, Associated Press

HRABOVE, Ukraine (AP) — Bowing to international pressure, pro-Moscow separatists released a train packed with bodies and handed over the black boxes from the downed Malaysia Airlines plane, four days after it plunged into rebel-held eastern ...

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US stock slip to start the week; Six Flags sinks

Jul 21, 2014

By MATTHEW CRAFT, AP Business Writer

NEW YORK (AP) — The stock market started the week with a slight loss on Monday as investors weighed a mixed batch of corporate earnings against mounting political turmoil.

European leaders are considering tougher sanctions on Russia for its backing of ...

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