Business News
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Bank of America to pay $2.43B in settlement
Tweet Share on Facebook 4:28PM September 28, 2012 CommentWASHINGTON (AP) — Bank of America says it has agreed to pay $2.43 billion to settle a class-action lawsuit related to its acquisition of Merrill Lynch at the height of the financial crisis.
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Oil posts 8.5 pct gain for quarter; gas at $3.79
Tweet Share on Facebook 4:26PM September 28, 2012 CommentNEW YORK (AP) — Oil ended the third quarter with a slight gain as investors weighed whether the world economy could pull out of the doldrums.
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FDA approves less-invasive heart defibrillator
Tweet Share on Facebook 4:22PM September 28, 2012 CommentWASHINGTON (AP) — The Food and Drug Administration says it has approved a first-of-a-kind heart-zapping implant from Boston Scientific that that does not directly touch the heart.
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Stocks End Week, Quarter on Down Note
Tweet Share on Facebook 4:08PM September 28, 2012 CommentNEW YORK (AP) — Stocks are ending the third quarter on a down note.
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Italian business greets prospect of 2nd Monti term
Tweet Share on Facebook 3:33PM September 28, 2012 CommentMILAN (AP) — Italian business and church leaders on Friday warmed to the prospect that Premier Mario Monti might stay on for a second term, while politicians insisted the post must return to a political leader.
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French budget heavy on taxes, could hurt Hollande
Tweet Share on Facebook 3:28PM September 28, 2012 CommentPARIS (AP) — France's new budget may be the worst of both worlds. It lacks the serious spending cuts that economists say are needed to put the country on a path to growth — but also doesn't unleash the wave of stimulus that voters expected from their Socialist president, Francois Hollande.
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Audit shows Spain banks need $76.3B
Tweet Share on Facebook 2:35PM September 28, 2012 CommentMADRID (AP) — Spain's troubled banks need an extra €59.3 billion ($76.3 billion) to survive a serious economic downturn, according to an independent audit released Friday by the Bank of Spain.
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Ex-finance minister to challenge Merkel in 2013
Tweet Share on Facebook 1:41PM September 28, 2012 CommentBERLIN (AP) — Germany's main opposition party embarked Friday on an uphill struggle to oust Chancellor Angela Merkel, choosing a respected former finance minister who helped steer the country through the financial crisis as her challenger in next year's election.
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A glance at Spanish banks that failed stress test
Tweet Share on Facebook 1:24PM September 28, 2012 CommentMADRID (AP) — The Spanish government announced Friday the result of financial health-checks on its 14 main credit institutions. Seven of them, representing 38 percent of the country's banking system's credit portfolio, failed the so-called stress tests and need to pad their capital cushion to cope with economic adversity.
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A look at France's 2013 budget
Tweet Share on Facebook 1:08PM September 28, 2012 CommentPARIS (AP) — French President Francois Hollande's budget plans to reduce the government's deficit by €30 billion ($39 billion), or about 1.5 percent of gross domestic product. Two-thirds of that will come from new taxes and one-third from spending cuts.
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Stocks remain lower at midday
Tweet Share on Facebook 11:58AM September 28, 2012 CommentNEW YORK (AP) — Stocks are lower at midday as they limp to the finish line for the third quarter.
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Markets slide as focus remains on Spain
Tweet Share on Facebook 11:57AM September 28, 2012 CommentLONDON (AP) — Market fell on Friday as investors continued to fret over Spain's finances in the run-up to a report on the state of the country's banks.
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Kodak plans to end consumer inkjet printer sales
Tweet Share on Facebook 11:47AM September 28, 2012 CommentNEW YORK (AP) — Kodak said Friday that it plans to stop selling consumer inkjet printers and will eliminate 200 more jobs than previously projected as it requested more time to submit its framework for emerging from bankruptcy protection.
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US consumers more confident in September
Tweet Share on Facebook 11:21AM September 28, 2012 CommentWASHINGTON (AP) — Higher stock prices and rising home values boosted a measure of consumer confidence in September to its second-highest level in nearly five years.
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Germany calls Berlusconi's euro exit plan 'absurd'
Tweet Share on Facebook 10:53AM September 28, 2012 CommentBERLIN (AP) — Chancellor Angela Merkel's spokesman on Friday dismissed the idea of Germany abandoning the euro as "absurd," after Italy's ex-premier, Silvio Berlusconi, suggested such a move could help heavily indebted Mediterranean countries.
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Crown Castle buys rights to T-Mobile towers
Tweet Share on Facebook 10:32AM September 28, 2012 CommentHOUSTON (AP) — Crown Castle International has agreed to buy the rights to about 7,200 T-Mobile towers for $2.4 billion in cash.
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Stocks lower, still set for third-quarter gains
Tweet Share on Facebook 9:58AM September 28, 2012 CommentNEW YORK (AP) — Stocks are opening lower on the final trading day of the third quarter.
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US stock futures dip on consumer data, Spain woes
Tweet Share on Facebook 9:22AM September 28, 2012 CommentNEW YORK (AP) — U.S. stock futures headed down Friday, the last trading day of the quarter, as investors fretted over the economy of Spain and absorbed a disappointing report on U.S. consumer spending.
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Tim Cook on Apple Maps: 'Extremely Sorry'
Tweet Share on Facebook 9:17AM September 28, 2012 CommentNEW YORK (AP) — Apple CEO Tim Cook says the company is "extremely sorry" for the frustration that its maps application has caused and it's doing everything it can to make it better.
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Chinese shippers place order for 50 supertankers
Tweet Share on Facebook 8:37AM September 28, 2012 CommentBEIJING (AP) — A group of state-owned Chinese shipping companies have placed a $4.5 billion order for 50 supertankers, throwing a financial lifeline to China's struggling shipbuilders, a newspaper reported Friday.
