Business Headlines
Chase drops arbitration from card contracts
AP - FRIDAY, NOVEMBER 20, 2009 7:45 P.M.
Moderate Dems pivotal in Saturday health care vote
AP - FRIDAY, NOVEMBER 20, 2009 7:44 P.M.
WASHINGTON (AP) -- Suitably opaque, Section 2006 takes up only a few dozen lines in a sweeping health care bill that runs to 2,074 pages and mentions neither Sen. Mary Landrieu nor her state of Louisiana....
Texas high court agrees to rehear Exxon case
AP - FRIDAY, NOVEMBER 20, 2009 6:07 P.M.
DALLAS (AP) -- The Texas Supreme Court on Friday said it will again hear arguments in the nearly 15-year legal battle over accusations that Exxon Mobil Corp. loaded abandoned wells with junk, sludge and even explosives to keep other companies from drilling there....
Ex-Vivendi CEO: I made mistakes but never misled
AP - FRIDAY, NOVEMBER 20, 2009 4:35 P.M.
NEW YORK (AP) -- Former Vivendi CEO Jean-Marie Messier told a jury Friday he made mistakes in his troubled bid to turn the French water company into a global media giant, but he never misled shareholders about the risks....
Boeing Hopes Long-Delayed Plane Takes Off In S.C.
NPR - FRIDAY, NOVEMBER 20, 2009 4 P.M.
Boeing has moved to South Carolina from its ancestral home in the Pacific Northwest to build the 787 Dreamliner. The company will spend less on labor and receive more than $175 million in state incentives. But it will have to train a new workforce, which Boeing's Seattle unions predict may be the undoing of the Southern operation.
Stocks fall for 3rd day as dollar strengthens
AP - FRIDAY, NOVEMBER 20, 2009 3:19 P.M.
NEW YORK (AP) -- Investors can't shake their fears that the economy isn't keeping up with the stock market....
Small Florida bank shuttered, 124th this year
AP - FRIDAY, NOVEMBER 20, 2009 3:13 P.M.
WASHINGTON (AP) -- Florida banking regulators on Friday shut down Commerce Bank of Southwest Florida, marking the 124th U.S. bank to succumb this year to the struggling economy and rising loan defaults....
Americans save more but earn less as rates fall
AP - FRIDAY, NOVEMBER 20, 2009 3:05 P.M.
NEW YORK (AP) -- The U.S. is finally becoming a nation of savers. Now if only we could get something for our money....
J.M. Smucker 2nd-quarter profit soars on coffee
AP - FRIDAY, NOVEMBER 20, 2009 2:37 P.M.
PORTLAND, Ore. (AP) -- J.M. Smucker Co. nearly tripled its profit in the second quarter as the addition of Folgers coffee gave a jolt to its lineup and lower commodity prices for coffee beans and other items fattened its profit margins....
D.R. Horton sees 26 perecent spike in 4Q orders
AP - FRIDAY, NOVEMBER 20, 2009 2:20 P.M.
Homebuilder D.R. Horton Inc., saw new home orders spike 26 percent from a year ago in the latest quarter as buyers raced to close deals and take advantage of a federal tax credit. But a wider-than-anticipated loss fueled by write-downs sent shares tumbling more than 15 percent Friday....
Chase drops arbitration from card contracts
AP - FRIDAY, NOVEMBER 20, 2009 2:10 P.M.
BOSTON (AP) -- JPMorgan Chase & Co. said Friday it is dropping a clause from its credit card contracts that required disputes with customers to be handled through binding arbitration, a move that could lead to consumers filing class-action and other lawsuits....
AP changes roles for 6 news editors, 4 photo eds
AP - FRIDAY, NOVEMBER 20, 2009 1:37 P.M.
NEW YORK (AP) -- The Associated Press has named six news editors to oversee expanded multistate territories and has assigned four interim regional photo editors as part of a restructuring of U.S. news management to ensure the continuing strength of the news cooperative's state reports....
GE, Vivendi talks over NBC Universal stretch on
AP - FRIDAY, NOVEMBER 20, 2009 1:09 P.M.
PHILADELPHIA (AP) -- A deal for Comcast Corp. to buy a controlling stake in NBC Universal and create one of the most powerful media companies in the world is taking longer than expected as the current owners tussle over price....
More states add jobs, but many for temporary staff
AP - FRIDAY, NOVEMBER 20, 2009 12:45 P.M.
WASHINGTON (AP) -- In a sharp improvement, more than half of U.S. states added jobs in October, though economists said many of the gains likely occurred in temporary employment....
Natural gas plunges 12 percent this month
AP - FRIDAY, NOVEMBER 20, 2009 12:09 P.M.
NEW YORK (AP) -- Natural gas prices have dropped by more than 12 percent in the past month as the country continues to sip at its energy reserves and a balmy November allowed homeowners to leave the heat off....
ALL BUSINESS: Economics 101, by way of toy hamster
AP - FRIDAY, NOVEMBER 20, 2009 10:58 A.M.
NEW YORK (AP) -- In a world full of economic indicators, the best one during the holiday season may prove to be a furry toy hamster....
Price Fight: Coke Isn't It At Costco
NPR - FRIDAY, NOVEMBER 20, 2009 8:01 A.M.
If you're a member of Costco, the nation's largest wholesale club, you may be surprised to learn that Coca-Cola's products are no longer on the shelves. The two companies are locked in a rare public dispute over the price consumers pay for beverages.
EU extends Oracle/Sun review deadline until Jan 27
AP - FRIDAY, NOVEMBER 20, 2009 7:58 A.M.
BRUSSELS (AP) -- European Union regulators said Friday that they have extended until Jan. 27 a deadline to wrap up their antitrust review of Oracle Corp.'s planned $7.4 billion takeover of Sun Microsystems Inc....
Dell's profit, stock drop on weak quarterly report
AP - FRIDAY, NOVEMBER 20, 2009 7:57 A.M.
SAN FRANCISCO (AP) -- Some of the computer industry's biggest players - such as IBM Corp., Intel Corp. and Hewlett-Packard Co. - have wowed Wall Street this fall with stronger-than-expected profits....
Downbeat Dell weighs on world markets
AP - FRIDAY, NOVEMBER 20, 2009 7:13 A.M.
LONDON (AP) -- World stock markets fell Friday amid mounting concerns about the pace of the U.S. economic recovery following a disappointing earnings update from computer maker Dell Inc....
Trichet: time to withdraw some support measures
AP - FRIDAY, NOVEMBER 20, 2009 7:01 A.M.
FRANKFURT (AP) -- Although it is too early to say the crisis is over, it is time to withdraw some of the policy measures that supported the financial system through the credit crunch, the European Central Bank President Jean-Claude Trichet said Friday....
Goldman Sachs Shareholders Want More Of Profits
NPR - FRIDAY, NOVEMBER 20, 2009 6 A.M.
Goldman Sachs' shareholders are pressuring the company to reduce the huge bonuses it pays its employees, according to The Wall Street Journal. The investors want to share in more of the profits. Goldman reportedly has been making record amounts of money, but analysts expect earnings for shareholders to be lower than in previous years.
'Call of Duty: Modern Warfare 2' Breaks Record
NPR - FRIDAY, NOVEMBER 20, 2009 6 A.M.
The new combat videogame "Call of Duty: Modern Warfare 2" has blasted away previous entertainment records. The game's publisher ActiVision says it raked in more than $550 million in the first week of sales. That's more than last year's top selling video game "Grand Theft Auto IV."
Students Protest University Of Calif. Fee Hike
NPR - FRIDAY, NOVEMBER 20, 2009 6 A.M.
Thousands of University of California students converged on the UCLA campus in Los Angeles Thursday, as regents adopted a 30 percent fee hike. It's one of the latest signs of California's continuing economic crisis. UC officials say, faced with a huge deficit of their own, they have no choice but to raise the fees. Many students say they can't afford to pay more.
Financial Crisis Is 'Green' For The Environment
NPR - FRIDAY, NOVEMBER 20, 2009 6 A.M.
New studies are projecting that carbon dioxide emissions — greenhouse gas emissions — will decrease for the year 2009. That is thanks to the global recession. But the reprieve is small and expected to be short lived.
Industry Hopes Auto Shows Rev Up Demand
NPR - FRIDAY, NOVEMBER 20, 2009 6 A.M.
The auto show season kicks off early next month in Los Angeles, and not a moment too soon. November auto sales remain weak. Analysts say the shows are critical to generating the consumer demand that companies such as General Motors need to start making money.
Gap profit up 25 pct in 3Q as Old Navy recovers
AP - FRIDAY, NOVEMBER 20, 2009 4:03 A.M.
CHICAGO (AP) -- Shoppers spent more money at low-price Old Navy stores in the third quarter, helping Gap Inc.'s profit climb 25 percent compared with last year, the retailer said Thursday....
End of an era: Oprah ending show after 25 years
AP - FRIDAY, NOVEMBER 20, 2009 3:58 A.M.
CHICAGO (AP) -- Oprah Winfrey was set to announce Friday that her powerhouse daytime television show, the foundation of a multibillion-dollar media empire with legions of fans, will end its run in 2011 after 25 seasons on the air....
GM to release plan for European units in December
AP - FRIDAY, NOVEMBER 20, 2009 3:51 A.M.
FRANKFURT (AP) -- General Motors Co. said it expects to release a full restructuring plan for its Opel and Vauxhall operations in mid December, but did not specify the amount of cuts to capacity and jobs it would seek....
Oil moves down near $77 amid economic uncertainty
AP - FRIDAY, NOVEMBER 20, 2009 3:35 A.M.
Oil prices edged down toward $77 a barrel on Friday after a drop in many stock markets and amid concern about the strength of the global economic recovery....
Sony hopes online service will build brand loyalty
AP - FRIDAY, NOVEMBER 20, 2009 2:43 A.M.
TOKYO (AP) -- Sony's new online service connecting the whole range of its gadgets to downloadable content like movies and games should help build brand loyalty, a top executive said Friday....
Volkswagen board moves closer to Porsche merger
AP - FRIDAY, NOVEMBER 20, 2009 2:26 A.M.
FRANKFURT (AP) -- German carmaker Volkswagen AG said Friday its supervisory board had approved certain agreement contracts for the planned merger with German sportscar builder Porsche, taking the companies one step closer to completing the deal....
White House at odds with bishops over abortion
AP - FRIDAY, NOVEMBER 20, 2009 12:45 A.M.
WASHINGTON (AP) -- The White House is on a collision course with Catholic bishops in an intractable dispute over abortion that could blow up the fragile political coalition behind President Barack Obama's health care overhaul....
Japan warns that deflation can drag on recovery
AP - FRIDAY, NOVEMBER 20, 2009 12:28 A.M.
TOKYO (AP) -- Japan's government highlighted the danger of deflation for the first time in three years Friday, warning that falling prices and a further worsening of the labor market could drag on the weak recovery....
China raises nonresidential electricity rates
AP - FRIDAY, NOVEMBER 20, 2009 12:27 A.M.
SHANGHAI (AP) -- China raised electricity rates for businesses and industries Friday, part of a long-term effort to adjust prices to reflect costs and promote energy saving as the country struggles to meet soaring demand....
Black Males Hit Extra Hard By Unemployment
NPR - FRIDAY, NOVEMBER 20, 2009 12:01 A.M.
The country's spiraling unemployment rate continues to take a particular toll on men. The "he-cession," as it's sometimes called, has hit African-American men especially hard, increasing their unemployment rate to more than 17 percent last month.
Taiwan firm uses recycled paper in shoemaking
AP - THURSDAY, NOVEMBER 19, 2009 10:14 P.M.
TAIPEI, Taiwan (AP) -- Confronted with an ever-growing pile of old newspapers, Taiwanese fashion designer Colin Lin came up with the idea of using them to make shoes and tote bags for her environmentally friendly footwear company....
S. Korean minister nixes new US trade negotiations
AP - THURSDAY, NOVEMBER 19, 2009 10:08 P.M.
SEOUL, South Korea (AP) -- South Korea's foreign minister ruled out Friday additional negotiations with the United States over a free trade agreement, a day after presidents of the two countries vowed cooperation to push the stalled deal forward....
To lower interest rates, Citi customers must spend
AP - THURSDAY, NOVEMBER 19, 2009 10:07 P.M.
NEW YORK (AP) -- For Citibank credit card holders, there is one way to escape the bank's rate hikes currently under way: Meet a monthly spending requirement....
House moves to protect doctors from Medicare cuts
AP - THURSDAY, NOVEMBER 19, 2009 7:52 P.M.
WASHINGTON (AP) -- The Democratic-controlled House voted Thursday to add more than $200 billion to the deficit to prevent steep Medicare payment cuts to doctors, a move Republicans denounced as a political payoff....
US Panel sets fees for big firms, aims to slow Fed
AP - THURSDAY, NOVEMBER 19, 2009 6:46 P.M.
WASHINGTON (AP) -- Taking aim at Wall Street and the U.S. central bank, an important House committee voted Thursday to assess fees on large financial firms to pay for the failure of their peers and to require a sweeping congressional audit of the secretive Federal Reserve....
General Growth, lenders agree on mall debt rework
AP - THURSDAY, NOVEMBER 19, 2009 5:53 P.M.
LOS ANGELES (AP) -- Mall operator General Growth Properties Inc., which filed the largest U.S. real estate bankruptcy case in history earlier this year, said Thursday its lenders have agreed to restructure some $8.9 billion in shopping mall mortgage loans....
Geithner: Use Leftover Bailout Money To Cut Deficit
NPR - THURSDAY, NOVEMBER 19, 2009 5:18 P.M.
Treasury Secretary Timothy Geithner said the government's $700 billion bailout program will end "as soon as we can," and that part of it will be used to lower the record deficit. He urged Congress to move quickly in overhauling the nation's financial rules, which he says is key to a healthy economy.
Dollar gains as homeowners, job-seekers struggle
AP - THURSDAY, NOVEMBER 19, 2009 4:18 P.M.
WASHINGTON (AP) -- The dollar's appeal as a safe haven sent it higher in trading Thursday after reports on housing and unemployment raised fears that the economy will be weak next year....
Glitch snarls air traffic in latest woes for FAA
AP - THURSDAY, NOVEMBER 19, 2009 4:12 P.M.
ATLANTA (AP) -- For the second time in a little more than a year, a glitch at one of the two centers that handle flight plans for the nation's air travel system set off delays and cancellations for passengers around the country....
GM analyst predicts solid November US sales
AP - THURSDAY, NOVEMBER 19, 2009 3:34 P.M.
DETROIT (AP) -- U.S. auto sales could top an annual rate of 10.8 million in November, General Motors Co.'s top sales analyst said Thursday. That would mark the first month this year that sales jumped to such levels without the aid of Cash for Clunkers rebates, which boosted sales in July and August. Executive Director of Market Analysis Mike DiGiovanni says the industry is having a solid sales month through the first 19 days of November, another sign that the economy is beginning a slow...
AOL offers buyouts to over a third of work force
AP - THURSDAY, NOVEMBER 19, 2009 3:20 P.M.
SAN FRANCISCO (AP) -- The struggling Internet company AOL plans to shed up to 2,500 jobs - more than a third of its work force - as it prepares to separate from Time Warner and finally sever their ill-fated marriage....
Treasury to sell warrants as 3 banks exit bailouts
AP - THURSDAY, NOVEMBER 19, 2009 3:20 P.M.
WASHINGTON (AP) -- The Treasury Department said Thursday it will auction off warrants for three banks that it acquired as part of last fall's financial bailout. It's the latest government effort to reel in its emergency financial programs....
Foreclosures hitting more people with good credit
AP - THURSDAY, NOVEMBER 19, 2009 3:10 P.M.
WASHINGTON (AP) -- The foreclosure crisis likely will persist well into next year as high unemployment pushes more people out of homes, pulls down housing prices and raises concerns about the broader economic recovery....
Sears narrows 3Q loss on cost-cutting efforts
AP - THURSDAY, NOVEMBER 19, 2009 11:13 A.M.
CHICAGO (AP) -- Shoppers increased their spending at Kmart stores for the first time in at least seven years this fall, picking up cheap toys, shoes and items for their homes....
Nissan chief: Electric car adoption to be gradual
AP - THURSDAY, NOVEMBER 19, 2009 11:07 A.M.
NEW YORK (AP) -- The head of the Nissan-Renault alliance said Thursday that customers' adoption of electric vehicles will be a slow and gradual process, with traditional gasoline-powered cars continuing to dominate the market for many years....
Penney CEO: Why the recession is good news for us
AP - THURSDAY, NOVEMBER 19, 2009 10:59 A.M.
NEW YORK (AP) -- This holiday season, J.C. Penney CEO and Chairman Myron E. Ullman III is armed with a lineup of exclusive fashion brands he helped bring to the department store chain, and he's ready to battle key rivals like Macy's....
Geithner: some bailout funds to help lower debt
AP - THURSDAY, NOVEMBER 19, 2009 10:42 A.M.
WASHINGTON (AP) -- Treasury Secretary Timothy Geithner said Thursday the government's $700 billion bailout program will end "as soon as we can," and that part of it will be used to lower the soaring federal debt....
Many parents inaccurately claim college tax credit
AP - THURSDAY, NOVEMBER 19, 2009 10:32 A.M.
WASHINGTON (AP) -- More than 314,000 taxpayers made inaccurate claims for a popular tax credit that helps pay college expenses, getting $532 million they weren't entitled to receive, a government report said Thursday....
Weak jobless claims, future economic activity data
AP - THURSDAY, NOVEMBER 19, 2009 10:30 A.M.
WASHINGTON (AP) -- A gauge of future economic activity and a report on unemployment benefits signaled Thursday that the recovery likely will remain weak in the coming months....
Tyson Foods names Donnie Smith as CEO
AP - THURSDAY, NOVEMBER 19, 2009 9:03 A.M.
MILWAUKEE (AP) -- In a move that signals Tyson Foods Inc. believes its chicken business is again profitable, the world's largest meat maker has named a new CEO to replace interim head Leland Tollett, who had been tapped in January to help weather an industry downturn....
Blackstone-owned Pinnacle buys Birds Eye for $1.3B
AP - THURSDAY, NOVEMBER 19, 2009 8:48 A.M.
MOUNTAIN LAKES, N.J. (AP) -- Packaged foods company Pinnacle Foods Group is buying Birds Eye Foods, the nation's largest frozen food company, for $1.3 billion....
Stimulus watchdog: Job creation data flawed
AP - THURSDAY, NOVEMBER 19, 2009 8:22 A.M.
WASHINGTON (AP) -- The government watchdog overseeing economic stimulus spending says the White House was too quick to take credit for saving or creating 640,000 jobs....
Leading economic indicators signal slow growth
AP - THURSDAY, NOVEMBER 19, 2009 8:07 A.M.
NEW YORK (AP) -- A private forecast of economic activity over the next six months edged up less than expected in October, signaling slow, bumpy growth next year....
JP Morgan To Buy British Investment Firm
NPR - THURSDAY, NOVEMBER 19, 2009 6 A.M.
JP Morgan Chase Co. is taking full control of Cazenove Group. JP Morgan began a joint venture with the 190-year-old British brokerage in 2005. JP Morgan Cazenove will continue to operate under that name and become a wholly owned part of the U.S. bank's British investment bank arm.
Sy Syms, Pioneer In Discount Clothing Dies
NPR - THURSDAY, NOVEMBER 19, 2009 6 A.M.
Sy Syms, founder and chairman of the SYMS Corp. discount clothing chain, died of heart failure this week in New York. He was 83. Syms founded his apparel business in 1959 in New York's financial district as a discount retailer of off-price men's clothes. The company uses the slogan, "An educated consumer is our best customer."
Suitors Vie For British Candy Maker Cadbury
NPR - THURSDAY, NOVEMBER 19, 2009 6 A.M.
One of Britain's most revered companies is under threat of a takeover. Candy maker Cadbury already rejected a hostile takeover bid by U.S. giant Kraft Foods. Hershey has confirmed it is considering a joint takeover bid for Cadbury, along with Italian chocolate maker Ferrero. But it seems the offers may need to be considerably sweetened to persuade the British.
Analyst: Calif. Will Have To Confront Growing Deficit
NPR - THURSDAY, NOVEMBER 19, 2009 6 A.M.
California faces a budget deficit of nearly $21 billion, according to a report released Wednesday by a nonpartisan budget analyst.
Recovery in developed economies gathering pace
AP - THURSDAY, NOVEMBER 19, 2009 5:55 A.M.
PARIS (AP) -- Recovery in developed economies will accelerate next year due to "substantial improvements" in financial markets and fast-growing Asian countries, but is likely to remain fragile, the Organization for Economic Cooperation and Development said Thursday as it doubled its 2010 growth forecast....
JP Morgan takes over Cazenove joint venture
AP - THURSDAY, NOVEMBER 19, 2009 5:04 A.M.
LONDON (AP) -- U.S. bank J.P. Morgan Chase & Co. said Thursday it has bought full control of J.P. Morgan Cazenove in a 1 billion pound ($1.67 billion) deal with its joint venture partner, the venerable London financial house Cazenove Group Ltd....
SABMiller H1 net profit down 32 percent
AP - THURSDAY, NOVEMBER 19, 2009 2:26 A.M.
LONDON (AP) -- SABMiller PLC, the world's second-largest brewer, on Thursday reported a 32 percent drop in net profit as revenues were hit hard by unfavorable currency movements and lager volumes declined....
GAO: Fraud in gov't contracts for disabled vets
AP - THURSDAY, NOVEMBER 19, 2009 1:12 A.M.
WASHINGTON (AP) -- Companies fraudulently collected at least $100 million in federal contracts from a $4 billion government program designated for disabled military veterans who run small businesses, congressional investigators charge....
Singapore economy expands for 2nd straight quarter
AP - THURSDAY, NOVEMBER 19, 2009 1:10 A.M.
SINGAPORE (AP) -- Singapore said its economy would expand as little as 3 percent in 2010, well below the high growth rates of past years because of a sluggish recovery in the U.S. and other developed countries....
Infineon 4Q net income rises to $21 million
AP - THURSDAY, NOVEMBER 19, 2009 12:40 A.M.
FRANKFURT (AP) -- German chipmaker Infineon Technologies AG said Thursday its fourth quarter net income rose sharply from a large loss a year ago as the company saw cost reductions help its results....
Malaysia's Maxis debuts at 9.2 percent above IPO
AP - WEDNESDAY, NOVEMBER 18, 2009 9:47 P.M.
KUALA LUMPUR, Malaysia (AP) -- Shares of Malaysia's top mobile phone company Maxis Berhad jumped 9.2 percent on their return to the bourse Thursday following the biggest share sale ever in Southeast Asia....
China Commercial Aircraft plans plant in Shanghai
AP - WEDNESDAY, NOVEMBER 18, 2009 9:42 P.M.
SHANGHAI (AP) -- Commercial Aircraft Corp. of China plans to build an assembly line for its homegrown C919 jetliners in Shanghai, the latest step in the country's ambitions to become a leader in world aviation....
Obama voices commitment to S.Korea trade agreement
AP - WEDNESDAY, NOVEMBER 18, 2009 8:22 P.M.
SEOUL, South Korea (AP) -- President Barack Obama says he is committed to resolving issues that have stalled a free trade agreement between the United States and South Korea....
Obama to push private sector to hire at forum
AP - WEDNESDAY, NOVEMBER 18, 2009 8:04 P.M.
BEIJING (AP) -- President Barack Obama says creating jobs isn't the goal of a coming White House forum on jobs and economic growth....
Jobless benefits could end for many in January
AP - WEDNESDAY, NOVEMBER 18, 2009 5:40 P.M.
WASHINGTON (AP) -- More than 1 million people will run out of unemployment benefits in January unless Congress quickly extends federal emergency aid, a nonprofit group said Wednesday....
FDA panel backs Pfizer's enhanced vaccine for kids
AP - WEDNESDAY, NOVEMBER 18, 2009 4:43 P.M.
BETHESDA, Md. (AP) -- Federal health experts said Wednesday an updated version of Pfizer's best-selling anti-infection vaccine is safe and effective for infants and toddlers, despite company studies that failed to meet certain goals....
Counting Stimulus Jobs Is Tough Work
NPR - WEDNESDAY, NOVEMBER 18, 2009 4 P.M.
The Web site Recovery.gov says more than 640,000 jobs have been created or saved by the government stimulus. But the head of the board that tracks stimulus spending tells Congress he can't certify that number is "accurate and auditable." A reporter finds that counting the jobs created or saved isn't an easy task.
Calif. requires TVs to be more energy-efficient
AP - WEDNESDAY, NOVEMBER 18, 2009 3:13 P.M.
SACRAMENTO, Calif. (AP) -- California regulators adopted the nation's first energy-efficiency standards for televisions Wednesday in hopes of reducing electricity use at a time when millions of American households are switching to power-hungry, wide-view, flat-screen, high-definition sets....
Ariz. prosecutor files 1st employer sanctions case
AP - WEDNESDAY, NOVEMBER 18, 2009 3:07 P.M.
PHOENIX (AP) -- Maricopa County prosecutors on Wednesday filed Arizona's first civil complaint against a business under a 22-month-old state law that prohibits employers from knowingly hiring illegal immigrants....
Cutting costs helps Limited Brands 3Q profit
AP - WEDNESDAY, NOVEMBER 18, 2009 2:49 P.M.
COLUMBUS, Ohio (AP) -- Victoria's Secret parent Limited Brands Inc. said Wednesday that its third-quarter profit rose above its own forecast, helped by cost cuts and a tax gain....
Aetna cutting more than 1,000 jobs by 1st quarter
AP - WEDNESDAY, NOVEMBER 18, 2009 2:15 P.M.
INDIANAPOLIS (AP) -- Health insurer Aetna said Wednesday it will cut 625 jobs immediately, or nearly 2 percent of its staff, and will make a similar number of cuts by the end of the 2010 first quarter due to the lagging economy and the potential impact of health care reform....
Leggo my Eggo! Kellogg fights waffle shortage
AP - WEDNESDAY, NOVEMBER 18, 2009 2:07 P.M.
ATLANTA (AP) -- Dear Kellogg: Leggo my Eggo!...
Wells Fargo agrees to buy back $1.4B in securities
AP - WEDNESDAY, NOVEMBER 18, 2009 2:01 P.M.
SAN FRANCISCO (AP) -- Wells Fargo & Co. on Wednesday agreed to repay customers about $1.4 billion to settle a lawsuit and regulatory investigations alleging the company improperly marketed risky investments as safe....
Lawmakers seek Fed audit after critical AIG report
AP - WEDNESDAY, NOVEMBER 18, 2009 1:46 P.M.
WASHINGTON (AP) -- A group of House Democrats are stepping up demands for greater transparency from the Federal Reserve after reports that the Fed mishandled the bailout of insurance giant American International Group Inc....
Upscale McDonald's brings European style to NYC
AP - WEDNESDAY, NOVEMBER 18, 2009 1:23 P.M.
NEW YORK (AP) -- Danish Modern furniture. Flat-screen TVs. Free Wi-Fi....
Another Obama nominee runs into tax problems
AP - WEDNESDAY, NOVEMBER 18, 2009 11:22 A.M.
WASHINGTON (AP) -- President Barack Obama's choice for a top job with the Treasury Department is having tax problems....
American Express to buy Revolution Money for $300M
AP - WEDNESDAY, NOVEMBER 18, 2009 11:09 A.M.
BOSTON (AP) -- American Express Co. is buying Revolution Money for about $300 million to keep up with trends in electronic payments, where new security features and online transaction options are shaking up traditional models....
AAA: Thanksgiving travel to go up, air travel down
AP - WEDNESDAY, NOVEMBER 18, 2009 10:45 A.M.
WASHINGTON (AP) -- A leading auto organization is projecting a 1.4 percent increase in Thanksgiving travel this year, although fewer people will travel by air due to budget concerns, reduced airline capacity and added charges....
Wells Fargo agrees to buy back soured securities
AP - WEDNESDAY, NOVEMBER 18, 2009 10:44 A.M.
NEW YORK (AP) -- The North American Securities Administrators Association says Wells Fargo has agreed to repurchase about $1.3 billion in soured auction-rate securities from clients....
Hershey, Ferrero considering rival bid for Cadbury
AP - WEDNESDAY, NOVEMBER 18, 2009 10:29 A.M.
HARRISBURG, Pa. (AP) -- Hershey, hoping to expand its overseas presence, has lined up a potential partner as the most recognizable name in American chocolate considers starting a bidding war for British candy maker Cadbury PLC....
BJ's Wholesale 3Q profit falls on charge
AP - WEDNESDAY, NOVEMBER 18, 2009 9:23 A.M.
PORTLAND, Ore. (AP) -- A legal settlement over worker pay pushed BJ's Wholesale Club Inc.'s third-quarter profit down 37 percent although sales grew for the retailer....
Medtronic gets FDA warning on heart implant unit
AP - WEDNESDAY, NOVEMBER 18, 2009 9:02 A.M.
NEW YORK (AP) -- Medtronic said Wednesday it is responding to a warning letter from the Food and Drug Administration about procedures at the Minnesota headquarters of its heart implants division....
Fla. lawyer suspected in $1B fraud losing license
AP - WEDNESDAY, NOVEMBER 18, 2009 8:55 A.M.
MIAMI (AP) -- A South Florida lawyer suspected of operating a $1 billion Ponzi scheme is asking for his own disbarment....
World chocolate makers vie for Cadbury
AP - WEDNESDAY, NOVEMBER 18, 2009 8:15 A.M.
LONDON (AP) -- The world's largest chocolate makers are gearing up for a potential corporate battle to buy Britain's Cadbury, with Hershey and Ferrero saying Wednesday they were considering an offer to rival Kraft's hostile takeover bid....
Wen says China doesn't seek trade surplus with US
AP - WEDNESDAY, NOVEMBER 18, 2009 7:01 A.M.
BEIJING (AP) -- China's premier has told President Barack Obama that Beijing doesn't seek a trade surplus with the U.S....
Oct. home construction, permits fall unexpectedly
AP - WEDNESDAY, NOVEMBER 18, 2009 6:07 A.M.
WASHINGTON (AP) -- Construction of new homes unexpectedly plunged last month, as builders waited to see whether lawmakers would extend a tax credit for homebuyers....
Offshore Tax Evaders Take Advantage Of IRS Amnesty
NPR - WEDNESDAY, NOVEMBER 18, 2009 6 A.M.
Tax cheats are coming clean. The Internal Revenue Service says nearly 15,000 tax evaders responded to its recent offer of limited amnesty. The program covered undisclosed foreign bank accounts and other assets. The response was far greater than expected.
Holiday Gift: Google Provides Free WiFi At Airports
NPR - WEDNESDAY, NOVEMBER 18, 2009 6 A.M.
Throughout the holidays, Google is subsidizing free wireless Internet access at dozens of airports across the country. It offers travelers a break from those pesky fees they usually have to pay to log onto airport WiFi. Google's doing this in part to promote its new browser called Chrome.
Hershey, Ferrero Consider Bid For Cadbury
NPR - WEDNESDAY, NOVEMBER 18, 2009 6 A.M.
British chocolate maker Cadbury is trying to fend off a hostile takeover by the American food company Kraft. Hershey and Ferrero International say they're considering a possible offer for Cadbury too. The move raises the possibility of a takeover battle.
Cheap Money May Lead To New Financial Bubble
NPR - WEDNESDAY, NOVEMBER 18, 2009 6 A.M.
There are fears that parts of Asia are developing financial bubbles because cheap money is flooding their markets. In countries where interest rates are low, people are borrowing money and then investing it in hot emerging markets. David Wessel of The Wall Street Journal tells Renee Montagne that the prospects of a "killing" seems to be enticing investors.
