Videos

Latest News

Banks in Ga., Mich., Minn., Mo., Calif. closed, Ieva M. Augstums And Marcy Gordon

Regulators on Friday shut banks in Georgia, Michigan, Minnesota, Missouri, and California, bringing the number of bank failures this year to 120 amid the struggling economy...

Cardiologist and Boston Sci exec Baim dies at 60

Dr. Donald Baim, a renowned cardiologist and medical device executive, died Friday following surgery to treat a form of cancer, his family said in a statement. He was 60.Obama calls holdouts on health care, David Espo

Amid intense lobbying by the Obama administration, House Democratic leaders struggled Friday for the final votes needed to pass sweeping health care legislation, offering f...

Sector Snap: Airline shares rise

Airline stocks rose Friday as oil prices tumbled, easing the carriers' fears over jet fuel costs.The broader market also gained, as investors shrugged off another ri...

Mesa Air says United didn't extend deal

Mesa Air Group Inc. said Friday that United Airlines did not extend an agreement under which Mesa operated 26 regional jets for the larger carrier.Mesa operates the ...

Hyatt underwriters buy additional 5.7M shares

Hyatt Hotels Corp. said Friday that underwriters of its initial public offering have exercised their option to buy 5.7 million more shares of common stock at $25 apiece.Small banks in Ga., Mich., Minn., Mo. closed, Ieva M. Augstums And Marcy Gordon

Regulators on Friday shut small banks in Georgia, Michigan, Minnesota and Missouri, bringing the number of bank failures this year to 119 amid the struggling economy and a ...

Neb. lawmakers hear 2 sides about budget crunch, Nate Jenkins

To hear directors of some state agencies tell it, managing Nebraska's worst fiscal crisis in recent memory isn't that big of a deal. Others tell a totally different story, ...

Obama signs bill assisting homebuyers, jobless, Jim Abrams

President Barack Obama signed a $24 billion economic stimulus bill into law Friday, giving tax incentives to prospective homebuyers and additional jobless benefits to those...

Former Idaho transportation head sues over firing, John Miller

The former head of the Idaho Transportation Department filed a lawsuit Friday against the agency, saying she was fired in a political power play to help Gov. C.L. "Butch" O...

Dolan Media buys 85 percent stake in DiscoverReady

Dolan Media Co. said Friday it bought an 85 percent stake in DiscoverReady LLC, which provides document-review services to companies and their lawyers.Financial term...

Small banks in Ga., Mich. closed, Marcy Gordon

Regulators on Friday shut small banks in Georgia and Michigan, bringing the number of bank failures this year to 117 amid the struggling economy and a cascade of defaults o...

Business Highlights

Jobless rate tops 10 pct. for first time since '83WASHINGTON (AP) — The unemployment rate has hit double digits for the first time since 1983 — and is likely to ...

Colo. gov proposes sales tax on soda, online sales

Facing an expected $1 billion shortfall in next year's budget, Colorado Gov. Bill Ritter is proposing a 4.6 percent cut in education spending and charging sales tax on item...

Shell Oil to pay $19.5M in environmental fines

Shell Oil Co. has been ordered to pay $19.5 million to the state for environmental violations at gas stations around California.The findings come after the Attorney ...

Live Nation-Ticketmaster deal vote set for Jan. 8

In a tacit acknowledgment of a delay in their plan to combine, Live Nation Inc. and Ticketmaster Entertainment Inc. said in filings Friday that a shareholders meeting to ap...

SEC inquiry could lead to Fla. oversight changes, Brent Kallestad

Two top Florida Democrats want changes to the makeup of the board that oversees Florida's $130 billion investment portfolio now under scrutiny from the U.S. Securities and ...

Sports agency sues Monster energy drink maker

Sports management agency Crown Athlete Management Co. said Friday it has sued the maker of the Monster energy drink, accusing it of fraud and other wrongdoing.The la...

Artur Davis gets union backing for Ala. governor

Gubernatorial candidate Artur Davis has picked up an endorsement from a major union.The Democratic congressman received the support of Communications Workers of Amer...

Broadway finds its 'Spider-Man' in Reeve Carney, Michael Kuchwara

Broadway has found its Spider-Man — rock singer Reeve Carney.Producer Michael Cohl says Carney will portray celebrated web-slinger Peter Parker in "Spider-Man Turn...

NJ's next governor says he'll veto higher taxes, Angela Delli Santi

New Jersey's next governor vowed Friday to veto any tax increase the Legislature sends to his desk in the coming year.Chris Christie said New Jerseyans already face ...

News group: Latin American gov'ts restrict press, Michael Warren

Populist leaders around Latin America are increasingly making legal and political moves to silence their media critics, the president of the Inter American Press Associatio...

CBS goes back to MMA with Fedor, Strikeforce, Greg Beacham

Fedor Emelianenko is ready for his close-up.The Russian mixed martial artist will no longer be his sport's least-seen superstar after Saturday night, when CBS showca...

Earnings roundup: Freddie Mac, PriceSmart

Among the earnings stories for Friday, Nov. 6, from AP Financial News:Top stories:WASHINGTON (AP) — Freddie Mac says its losses narrowed to $6.3 billion in ...

Mississippi woman sentenced for bankruptcy fraud

A Mississippi woman has been sentenced to nearly three years in prison for hiding more than $255,000 from a bankruptcy trustee.Linda Hardy was sentenced Friday in U....

Earnings roundup: Berkshire Hathaway, Rosetta

Among the earnings stories for Friday, Nov. 6, from AP Financial News:Top stories:OMAHA, Neb. (AP) — Warren Buffett's company says its third-quarter profit ...

Treasury bond market at a glance

...

CardioNet reports 3Q loss as it restructures

Wireless heart-monitoring device maker CardioNet Inc. fell to a loss in the third quarter, as it had ramped up marketing spending after Medicare lowered reimbursement rates...

What recovery? Unemployment shoots past 10 percent, Jeannine Aversa And Christopher S. Rugaber

Just when it was beginning to look a little better, the economy relapsed Friday with a return to double-digit unemployment for only the second time since World War II and w...

Ex-New Orleans tech chief, wife, vendor indicted, Becky Bohrer

A federal grand jury on Friday indicted former New Orleans technology chief Greg Meffert, his wife and a one-time city vendor in an alleged kickback scheme involving contra...

Earnings Preview: Ticketmaster 3Q results seen up

Ticketmaster Entertainment Inc., the nation's largest ticket seller and proposed merger partner of Live Nation Inc., is scheduled to report its third-quarter earnings on Mo...

Court ends tobacco company payments in Md., Pa.

North Carolina's highest court ruled Friday that three cigarette companies no longer have to make payments to tobacco farmers in Maryland and Pennsylvania under a decade-ol...

Berkshire Hathaway says 3Q profit triples to $3.2B, Josh Funk

Paper gains on derivative contracts helped Berkshire Hathaway Inc. triple its third-quarter profit as its insurance businesses did well, but Warren Buffett's company said F...

Rosetta Resources swings to 3Q profit

Rosetta Resources Inc. said Friday its revenue fell by nearly half due to lower natural gas prices.The exploration and production company said it earned $5.7 million...

Pixel Magic to open studio in Louisiana

Pixel Magic, which creates digital visual effects for film and television, announced Friday that it will open a Louisiana studio in December.The studio will be locat...

MaxLinear, a TV tuner maker, files for IPO

MaxLinear Inc., a maker of TV tuners, is planning to go public.The Carlsbad, Calif.-based company made an S-1 filing with the Securities and Exchange Commission for ...

Lockheed Martin gets $143.2M Air Force deal

Lockheed Martin Corp. received a $143.2 million contract from the Air Force for electronics upgrades for the C-5 aircraft, the Pentagon said late Friday.Shares of th...

IBM offers to swap higher-interest debt

IBM Corp. on Friday made an offer to certain debt holders to swap their long-term debt with bonds carrying a lower interest rate plus cash in a move to save money and bolst...

Minnesota governor postpones Mexico trade trip

Minnesota Gov. Tim Pawlenty is postponing a brief trade trip to Mexico, saying that President Felipe Calderon has a scheduling conflict.The Republican governor was d...

Detroit man charged in funds theft from drug plan

A Detroit man has been charged in the theft of nearly $1 million in money intended for employee prescription drug coverage in the city of River Rouge.Michigan Attorn...

Jobless in RI can now get benefits up to 99 weeks

Unemployed Rhode Islanders can now collect jobless benefits for up to 99 weeks.President Barack Obama on Friday signed a $24 billion economic stimulus bill into law ...

Small bank in Ga. closed

Regulators on Friday shut United Security Bank, a small bank in Georgia, bringing the number of bank failures this year to 116 amid the struggling economy and a cascade of ...

Ill. governor candidates split on health care, Deanna Bellandi And Christopher Wills

Candidates for Illinois governor are split over a national health care plan with all but one Republican saying the state should opt out if it can, a position rejected by De...

House votes to strengthen chem plant security, Jim Abrams

The House approved legislation Friday aimed at making chemical and water treatment facilities less vulnerable to terrorist attack.The three-part legislation would gi...

Freddie Mac loses $6.3B in 3Q, Alan Zibel

Freddie Mac's losses narrowed to $6.3 billion in the third quarter, but the government-controlled mortgage finance company didn't need a federal cash infusion.The Mc...

One Liberty Properties 3rd-qtr FFO up 22 percent

One Liberty Properties Inc. on Friday said its third-quarter funds from operations rose 22 percent as rental income rose.The real estate investment trust, which focu...

Ferro closes stock offering

Ferro Corp. said Friday it completed the sale of 41.1 million shares of common stock and will use some of the proceeds for restructuring programs.The company had 44....

Joe Jackson seeks stipend from Michael's estate, Anthony Mccartney

Michael Jackson's father is seeking an allowance from his son's estate to help cover expenses that exceed $15,000 a month, according to court documents filed Friday....

Earnings Preview: Live Nation 3Q seen lower

Live Nation Inc., the world's biggest concert promoter and proposed merger partner of Ticketmaster Entertainment Inc., is scheduled to report its third-quarter earnings on ...

Figures on government spending and debt

...

AIG, Magna, Activision Blizzard are big movers

The following stocks were among those that moved substantially or traded heavily Friday on the New York Stock Exchange:NYSE:American International Group Inc.,...

Dunkin' Donuts to launch 99-cent menu in Chicago

Dunkin' Donuts said Friday it will launch a new 99-cent menu at 500 Chicago locations on Monday and hand out 20,000 gift cards pre-loaded with $2 each to lure customers.Indiana governor announces more spending cuts, Mike Smith

Indiana Gov. Mitch Daniels announced on Friday a series of spending cuts and other steps to offset a continuing multimillion-dollar dive in state revenues.Among othe...

Hundreds of watermen make Virginia an offer, Steve Szkotak

One-third of Virginia's watermen have offered to sell their licenses back to the state under a buyback program intended to ease pressure on the Chesapeake Bay crab.T...

York Water posts big gain in third-quarter profit

York Water Co., which purifies and distributes water, said Friday a higher number of customers plus a rate increase lifted its third-quarter profit by 20 percent.Net...

How the major stock indexes fared on Friday

Investors added to the week's strong gains in the stock market after finding some positives in a surprisingly weak jobs report. Stock indexes posted a modest advance in lig...

What's in a name? Companies past identities

GMAC Bank recently reinvented itself as Ally Bank. The move was a way to distance itself from its troubled parent company GMAC Financial Services, which is negotiating its ...

You've seen the TV ads. So what is Ally Bank?, Candice Choi

Its TV and print ads poke fun at the bait-and-switch tactics of other banks. Its interest rates on CDs have been the most generous in the industry.Ally Bank's tactic...

AT&T completes delayed Centennial acquisition

AT&T Inc. said Friday that its acquisition of smaller wireless carrier Centennial Communications Corp., has closed after several delays due to the regulatory process.2nd deep shaft reopened at old gold mine in SD, Dirk Lammers

Crews pumping water out of the Sanford Underground Laboratory in Lead have reopened a second deep shaft that eventually will be used as the primary entrance and exit for sc...

Judge vacates $1.26B ruling against PepsiCo, Emily Fredrix

A judge has tossed out a decision — for now at least — that could have cost PepsiCo Inc. $1.26 billion after the soft drink maker didn't respond to a lawsuit claiming i...

Dollar and precious metals at a glance

...

Covidien closes $210M purchase of Aspect Medical

Drug and medical device maker Covidien PLC said Friday it completed its $210 million purchase of Aspect Medical Systems, a company that makes brain monitoring technology.Potential problems at 20 W.Va. coal ash dams, Tim Huber

The West Virginia Department of Environmental Protection may change its policy for inspecting coal ash impoundments after a survey uncovered more problems — and dams — ...

Mich. regulator wants more info on proposed mine

Michigan's chief environmental regulator wants more information about a rocky outcrop in Marquette County that could affect plans for a nickel and copper mine.Steven...

Stocks post modest gains as job losses slow, Sara Lepro And Tim Paradis

Investors undaunted by a surprisingly weak jobs report found enough positive news to nudge stocks higher Friday.News that the nation's unemployment rate rose above 1...

Amazon shares climb on analyst's sales growth view

Shares of Amazon.com Inc. got a boost Friday after a Bernstein Research analyst upgraded the Seattle-based online retailer, expecting faster revenue growth in 2010.A...

Brookfield Asset Management sets 13-cent dividend

Brookfield Asset Management on Friday said its board declared a dividend of 13 cents.The Toronto-based investment company said the dividend is payable Feb. 28 to sha...

Brookfield Asset Management 3rd-qtr profit falls

Brookfield Asset Management Inc. on Friday said its third-quarter profit fell 35 percent, as revenue declined, expenses rose and the company booked a charge of more than $1...

USDA says it wants to resolve Indian farmer claim, Ken Thomas

The Obama administration intends to seek resolution to a lawsuit filed by American Indian farmers who alleged discrimination in the granting of federal agricultural loans o...

Minnick to vote against House health care bill

U.S. Rep. Walt Minnick says he intends to vote against the health care reform bill coming up for a vote in the U.S. House.Minnick, Idaho's lone Democrat in Congress,...

Senior transportation a critical need, Adrian Sainz

When senior citizens finally surrender the car keys, they don't have to lose their independence.Efficient transportation services can help local economies by allowin...

Mirant 3Q profit plunges 97 pct on hedging losses

Mirant Corp. on Friday posted a 97 percent plunge in its third-quarter profit — driven mainly by one-time hedging losses — and lowered its 2009 adjusted earnings before...

1 dead, 5 hurt in Orlando office shooting, Mike Schneider

A gunman opened fire Friday in the offices of an engineering firm where he was let go more than two years ago, authorities said, killing one person and injuring five others...

Consumer borrowing drops $14.8B in September, Martin Crutsinger

Consumers borrowed less for a record eighth straight month in September amid rising unemployment and tight credit conditions. Economists worry the declines in borrowing wil...

Earnings Preview: Electronic Arts

Video game publisher Electronic Arts Inc. reports earnings for its fiscal second quarter, which ended in September, on Monday after the market closes. The following is a su...

Missouri agency looks into actions of Pinnacle CEO, Betsy Taylor

Investigators are looking into the behavior of Pinnacle Entertainment Inc.'s CEO during a zoning vote by the St. Louis County Council this week on a casino complex being de...

Agriculture futures trade lower on the CBOT

...

PriceSmart fiscal 4th-quarter profit declines

PriceSmart Inc., which runs warehouse-shopping clubs, said Friday its fourth-quarter profit declined 9 percent as an increase in operating expenses hurt its bottom line.Meltdown 101: When unemployment last hit 10 pct, Christopher S. Rugaber

The last time unemployment climbed past 10 percent, "The A-Team" was one of the top 10 TV shows and Michael Jackson was about to release "Thriller."Much has changed ...

Mass. receives money for broadband mapping

Massachusetts has received about $2 million in federal stimulus funding to help identify the speed and location of broadband services in the state over the next five years....

Best of both worlds? Combined pension/401k plan, David Pitt

Over the last year it's become abundantly clear that the stock market can devastate even seemingly healthy retirement accounts. Even so, with the guaranteed income of tradi...

Kraft nears deadline to make Cadbury offer, Betsy Vereckey

The clock is ticking on a Monday deadline for Kraft Foods Inc. to make a formal offer for British candy maker Cadbury PLC.Kraft, which makes Oreo cookies, Nabisco cr...

Judge rejects $225,000 award for blind Wis. vendor, Ryan J. Foley

The state of Wisconsin does not have to pay $225,000 to a blind businesswoman in a dispute over an Army dining contract, a federal judge ruled this week.An arbitrati...

Construction co. settles bridge collapse lawsuits, Brian Bakst

Victims and the families of those killed in the Interstate 35W bridge collapse in Minneapolis in 2007 agreed Friday to settle their lawsuits against a construction company ...

Oil settles lower after US unemployment report, Chris Kahn

Oil prices tumbled Friday after the government said the U.S. unemployment rate topped 10 percent for the first time since 1983.Benchmark crude for December delivery ...

A&E: Reality show about Jacksons premieres Dec. 13, Frazier Moore

A reality show miniseries about the Jackson family will premiere Dec. 13 on A&E, the network says. Back-to-back hour episodes will air that night at 9 p.m. EST."...

Gold prices soar to $1,100; other commodities fall, Sara Lepro

Gold prices outshone other commodities Friday, soaring to a new high of $1,100 an ounce, as prices for copper, oil and soybeans fell.Gold prices have been rallying i...

Neb. lawmakers get 2 stories about budget crunch, Nate Jenkins

To hear directors of some state agencies, managing Nebraska's fiscal crisis isn't that big of a deal. Others tell a totally different story, one of drastic cutbacks in serv...

GM says Europe chief Forster to leave post, Tom Krisher And George Frey

Carl-Peter Forster, the chief executive of General Motors Europe who runs its struggling Opel unit, will leave the company, GM said Friday.GM said in a statement tha...

Little trail holds big dreams for NH city, Kathy Mccormack

A 4.5-mile trail for ATV riders running through the northernmost city of New Hampshire may be key to putting the North Country community, still suffering from the loss of i...

Ariz. cities group to challenge budget legislation

Arizona municipalities will sue to challenge state budget legislation that local government officials contend went astray.The executive board of the League of Arizon...

Judge rejects $225K award for blind Wis. vendor, Ryan J. Foley

The state of Wisconsin does not have to pay $225,000 to a blind businesswoman in a dispute over an Army dining contract, a federal judge ruled this week.An arbitrati...

Business events scheduled for the coming week

NEW YORK — Deadline for submitting a revised agreement in the battle over Google Inc.'s effort to get digital rights to millions of out-of-print books.ENGLEWOOD, C...

Arch Capital to buy back up to $1B of its stock

Arch Capital Group Ltd. said Friday it will buy back up to an additional $1 billion of its common stock.The insurance and reinsurance provider has $350.1 million sti...

Pa. regulators OK Windstream's purchase of D&E

Windstream Corp.'s acquisition of D&E Communications Inc. phone and Internet company has the approval of Pennsylvania state utility regulators.The Pennsylvania P...

Number of active rigs increase by 9

The number of rigs actively exploring for oil and natural gas in the U.S. this week has risen by nine this week to 1,078.Houston-based Baker Hughes Inc. said Friday ...

Less poetry, music but big Miami book fair goes on, Lisa Orkin Emmanuel

Poetry and music have been cut and there will be no parade to kick off the Miami Book Fair International as in years past. But one of the nation's leading literary festival...

Canadian GLG Life Tech plans IPO in the US

Canadian sweetener supplier GLG Life Tech Corp. plans to offer 3.6 million common shares in a U.S. initial public offering.The company, which makes zero-calorie natu...

Blackstone Group posts narrower 3rd-quarter loss

Hedge fund and private equity firm The Blackstone Group LP on Friday posted a narrower loss for the third quarter, as its private equity holdings gained value and its real ...

Treasury prices narrowly mixed ahead of auctions

Treasury prices mostly rose Friday after the government said the nation's unemployment rate climbed to a 26-year-high of 10.2 percent last month.The jump in unemploy...

Local officials endorse casino in western Maine

Elected officials in Oxford have endorsed by a 5-0 vote a proposal to build a resort and casino in the western Maine town.The Board of Selectmen voted Thursday night...

Hornets owner Shinn says he has prostate cancer, Kevin Mcgill

New Orleans Hornets owner George Shinn said Friday he has been diagnosed with prostate cancer but remains healthy and is optimistic that he will conquer the disease....

Roethlisberger's accuser in suit quits casino job, Scott Sonner

The woman who filed a lawsuit accusing Ben Roethlisberger of raping her has quit her job at the Lake Tahoe hotel-casino where she claims the assault occurred in the NFL qua...

Va. man sentenced for running $5M Ponzi scheme

A Virginia man will spend more than seven years in prison for running a Ponzi scheme that bilked more than $5 million from more than 30 investors.John Mark Donnelly ...

Beckham's off-field revenue soared after LA move, Rob Harris

David Beckham earned nearly 10 million pounds ($16.5 million) from personal sponsorship deals during his first full season with the Los Angeles Galaxy.The England mi...

Int'l Game Technology reports fiscal 4Q loss, Oskar Garcia

International Game Technology on Thursday posted a fiscal fourth-quarter loss, but said it thinks demand for its slot machines and casino management systems has stabilized....

Union: No progress made in Philly transit talks, Patrick Walters

The city's largest transit union said Friday that no progress has been made in contract negotiations, tamping down hopes of an end to a strike that has idled subways, buses...

Iowa governor announces funds for flood buyouts

Iowa Gov. Chet Culver says $150 million in federal funds will be made available for the purchase of 1,352 homes damaged in last year's floods.The funding is part of ...

Water officials ban septic tanks in Malibu

Water officials have banned septic tanks in portions of Malibu, ending years of wrangling between surfers, environmentalists and residents in the celebrity-filled community...

Looking for land in all the right places, Alex Veiga

The housing bust left homebuilders with plenty of red ink on their books as they walked away from swaths of land they no longer needed.But now homebuilders are on th...

Cracker Barrel lenders extend loan payback

Cracker Barrel Old Country Store Inc. said Friday that lenders have agreed to give the company more time to pay back a revolving credit facility and certain term loans, giv...

EBay settles lawsuit filed by Skype founders, Rachel Metz

EBay Inc. has settled a legal skirmish with the founders of Skype that threatened to complicate eBay's plans to sell most of the Internet phone service to a group of invest...

Judge OKs plea deal from 'Girls Gone Wild' founder

A judge sentenced "Girls Gone Wild" founder Joe Francis on Friday to time served and a year of probation for filing false income tax returns.U.S. District Judge S. J...

A look at economic developments around the globe

A look at economic developments and activity in major stock markets around the world Friday:___LONDON — Government-controlled Royal Bank of Scotland Group P...

STR Holdings shares rise in IPO debut

STR Holdings Inc. shares jumped Friday after the solar products company launched its initial public offering, but shares priced below expectations on the New York Stock Exc...

2 Nebraska banks get rural loan guarantees

Two Nebraska banks have obtained federal loan guarantees through the U.S Department of Agriculture, which is using federal stimulus funding.The USDA said in a news r...

Neb. court says dealers must check used-car safety, Timberly Ross

Car dealers must inspect used vehicles for safety defects and either make repairs or warn potential buyers before they are resold, the Nebraska Supreme Court ruled Friday.<...

Parents plan Web broadcast for disabled daughter, Angela Doland

Disabled with severe cerebral palsy, 32-year-old Anne Lamic spends her days in southeastern France mostly in bed, surrounded by stuffed animals and dolls. She cannot speak ...

Bebe shares fall after 1Q results

Shares of clothing retailer Bebe Stores Inc. tumbled 8 percent Friday, after it posted a quarterly loss on sharply lower sales.Bebe lost $4.2 million, or 5 cents per...

Former NASA official sentenced to probation, Larry Margasak

A former top NASA official was sentenced Friday to three years probation, six months of electronic monitoring and a $2,500 fine for steering contract money to a private cli...

Canada's unemployment rate rises, 43.2K jobs lost, Rob Gillies

Canada's unemployment rate rose to 8.6 percent in October from 8.4 percent a month earlier as the economy shed a net total of 43,200 jobs, the government said Friday.Fortress Investment posts wider 3rd-qtr loss

Alternative asset manager Fortress Investment Group LLC said Friday its third-quarter loss deepened as it cut expenses and recorded a big gain on affiliate investments....

Shares of auto supplier Magna soar on earnings

Shares of Magna International Inc. soared Friday after the Canadian auto supplier said it posted a $51 million third-quarter profit, blowing away Wall Street predictions.Modus Link Corp. ships Utah jobs to China

The U.S. Department of Labor says workers laid off in Utah by a business-services company will qualify for special federal assistance because their jobs were lost to foreig...

Dril-Quip profit slips from a year ago

Dril-Quip Inc., which makes equipment for offshore oil drilling, said Friday its profit slipped from a year ago on a charge even as sales rose, and it gave a fourth-quarter...

AES sells stake to China sovereign fund for $1.58B

Global power company AES Corp. said Friday it is selling a 15 percent stake in itself to China's investment arm for $1.58 billion in a move to raise cash to develop project...

Ex-hedge fund boss charged in stock scam

A former hedge fund manager arrested earlier this year has been indicted on federal charges he participated in a $7 million insider trading scam.The indictment again...

Thaksin on a mission to humiliate Thai government, Jocelyn Gecker

Thailand's fugitive former prime minister Thaksin Shinawatra has spent much of the past three years roaming the globe, shopping for diamonds in Africa, golfing at Asian res...

Fla. yacht broker gets 2 months prison in UBS case, Curt Anderson

A Florida yacht broker who admitted filing a false U.S. tax return and concealing millions of dollars in a secret account at Swiss bank UBS AG was sentenced Friday to two m...

EBay settles suit with Skype founders

EBay Inc. says a group of investors who are buying the majority of its telecommunications service, Skype, agreed to settle a legal skirmish with Skype's founders.The...

Defense asks jury to clear ex-hedge fund managers

Two former Bear Stearns hedge fund managers charged with lying to investors always were honest about the risks of investing in securities linked to the volatile subprime mo...

Poll: Rural Nebraskans less positive about towns

Pollsters say economic worries may have contributed to a decline in rural Nebraskans' views of their communities.The 2009 Nebraska Rural Poll was conducted by the Un...

Ark. ag experts put weather losses at $225 million

State agriculture experts say soggy weather that drenched Arkansas during much of the harvest season will cut farm receipts statewide by nearly $225 million.The Arka...

Report: Minn. needs significant Internet upgrades, Martiga Lohn

Internet speeds in more than four-fifths of Minnesota are too slow to support technologies that could draw new jobs, take cars off the roads and bring new services to peopl...

Stocks zigzag as dollar slides on jobs report, Sara Lepro And Tim Paradis

Stocks zigzagged in light trading Friday as investors found some positives for the market in a surprisingly weak jobs report.The Labor Department said employers cut ...

Fla. broker gets 2 months prison in UBS tax probe, Curt Anderson

A Florida yacht broker has been sentenced to two months in prison for a tax conviction stemming from the U.S. investigation of secret accounts at Swiss bank UBS AG.B...

Checkoff outcry may be persuading Neb. lawmakers

Opposition to Nebraska Gov. Dave Heineman's plan to use some crop checkoff dollars to balance the state budget may be working.Nebraska Farm Bureau President Keith Ol...

Neb. lawmakers continue special session on Friday

Nebraska lawmakers have only one more day to introduce bills in their budget-cutting special session.Friday is the last day senators can introduce bills to help deal...

FDA warns Web companies not to sell flavored cigs

The Food and Drug Administration said Friday that it has warned several companies to stop selling banned flavored cigarettes to U.S. consumers online.The agency sent...

Ark. plant to end bus making; 477 jobs affected

The owner of a plant that has made school buses in Conway for decades said that it would end bus-production operations there soon, affecting up to 477 jobs at the facility....

Duoyuan Printing shares fall in IPO debut

Shares of Chinese printing equipment supplier Duoyuan Printing Inc. fell Friday after its initial public offering raised $63 million, pricing at the bottom of its expected ...

State Street adds $250 million to legal reserve

State Street Corp. on Friday said it added $250 million to a legal reserve, and revised its third-quarter earnings results downward to reflect the change.The financi...

TVA prepares to start smokestack scrubbers, Duncan Mansfield

Smokestack scrubbers will eliminate most of the sulfur emissions from the coal-fired Kingston Fossil Plant, but they will also produce a new waste stream for a site still e...

G20 officials seek support for future growth, Jane Wardell

The world's top finance officials sought agreement Friday on ways to secure future global economic growth as the world hesitantly emerges from recession.They also tr...

Ex-official recalls Bruno's NY investment pitch, Michael Virtanen

A former Teamsters official testified that then New York state Sen. Joseph Bruno told him in 1994 that Wright Investors Service wanted to manage his local's pension fund an...

Stocks zigzag as traders digest jobs report, Sara Lepro And Tim Paradis

Stocks are fluctuating in a tight range as investors find some positives for the market in a surprisingly weak jobs report.The Labor Department's report Friday that ...

Ex-Ala. gov aide: Indian casinos gave to governor, Phillip Rawls

A former member of Gov. Bob Riley's Cabinet claimed Thursday that Riley received campaign contributions from Mississippi Indians who operate casinos, with the money intende...

NYC man charged in $365K fitness Web site scam

A former college staffer convicted of ripping off the school raised money to repay it by roping far-flung investors into funding a fictitious online fitness magazine, prose...

Tenn. gov: Biofuels project criticism 'outrageous', Travis Loller

Gov. Phil Bredesen says a legislative staff member who attacked a state-backed initiative to turn switchgrass into ethanol is playing politics and endangering chances to la...

Neb. senator takes issue with student loan stance, Margery A. Beck

U.S. Sen. Mike Johanns said Thursday that his concern for Nebraska families is what's driving his opposition to legislation that would turn control of student loans over to...

New `Call of Duty' could set entertainment record, Barbara Ortutay

This holiday season's biggest entertainment blockbuster likely will be a sequel to a popular franchise, with jarring depictions of war and an intricate story of good versus...

BCS would enjoy economic impact of Notre Dame, Tom Coyne

Charlie Weis likes his team's chances of earning a Bowl Championship Series berth — if No. 19 Notre Dame keeps winning.Gator Bowl president Rick Catlett does, too....

Dollar choppy after unemployment tops 10 percent

The safe-haven dollar got an immediate boost Friday after the government said the U.S. unemployment rate rose above 10 percent, but then gave back its gains in choppy tradi...

Beckham's sponsorship revenue soared in 2008

David Beckham earned nearly $16.5 million from personal sponsorship deals during his first full season with the Los Angeles Galaxy in 2008.Newly released accounts fr...

Energy West gets 83 percent of Cut Bank utility

Energy West Inc., a natural gas and energy marketing company in Great Falls, has bought 83 percent of the outstanding shares of Cut Bank Gas Co., a natural gas utility serv...

Agriculture futures mostly fall on Chicago BOT

Agriculture futures were mostly lower Friday in early trading on the Chicago Board of Trade.Wheat for December delivery dropped 4 cents to $5.0825 a bushel, while De...

Oil prices tumble after US unemployment report, Chris Kahn

Oil prices tumbled Friday after the government said the U.S. unemployment rate topped 10 percent for the first time since 1983.Benchmark crude for December delivery ...

Mich. House taps 2010 stimulus funding for schools, Kathy Barks Hoffman

The Michigan House voted to tap federal stimulus money set aside for next year to soften a cut in school funding now, but it's unlikely the move is going to win the support...

US Homeland chief defends $10 travel fee, Constant Brand

European Parliament lawmakers on Friday demanded that U.S. Homeland Security Secretary Janet Napolitano ease restrictions for Europeans traveling to the United States, sayi...

Halozyme takes bigger loss on testing expenses

Biotechnology company Halozyme Therapeutics Inc. reported a bigger third-quarter loss on Friday, as it started clinical trials of a fast-acting insulin during the period.Mass. commission ruling means delay for Cape Wind

The nation's first offshore wind farm faces more delay after a top Massachusetts historic preservation officer said that two Indian tribes' claim to Nantucket Sound needed ...

AOL names CEO of online retailer to its board

AOL, the Internet service provider owned by Time Warner Inc., on Friday named Gilt Groupe CEO Susan Lyn0e to its board.Lyne and nine other directors will join the AO...

Ky. lawmaker seeks to expand gambling in state

A state senator is proposing a constitutional amendment that — if approved by the General Assembly and then voters — would allow video gambling machines in Kentucky.Stocks zigzag on implications of jobs report, Sara Lepro And Tim Paradis

Stocks fluctuated in a tight range Friday as investors found some positives for the market in a surprisingly weak jobs report.The Labor Department said employers cut...

Md. gov to create commission on small business

Gov. Martin O'Malley says he plans to create Maryland's first commission on small business.It's one of a variety of plans to help small businesses the governor is ou...

Used vehicle prices slip in Oct. after long climb

Used vehicle prices edged lower in October, according to a closely watched index, ending a three-month climb that brought prices to their highest level the previous month.<...

Federal stimulus spokesman defends Web site, Ben Neary

A spokesman for the federal economic stimulus program is defending the program's Web site against criticism from a top Wyoming official, who said she sees problems with the...

Edison International 3rd-quarter profit falls

California utility operator Edison International said Friday its third-quarter profit fell on lower earnings at its Edison Mission Group.Edison earned $403 million, ...

Omrat shares fall as analyst downgrades stock

Shares of Ormat Technologies Inc. tumbled on Friday as an analyst downgraded the stock, citing 2010 product revenue uncertainties.Shares of Ormat, which designs, bui...

Knology posts 3rd-quarter loss on charges

Knology Inc., a cable, phone and Internet services provider, said it posted a $3.3 million quarterly loss because of hefty accounting charges and other costs to amend a cre...

Scripps Networks posts higher 3Q profit

Scripps Networks Interactive Inc. said Friday its third-quarter profit climbed 37 percent, boosted by strong revenue at its Food Network and HGTV networks.The compan...

Threshold Pharmaceuticals 3Q loss widens on costs

Threshold Pharmaceuticals Inc., a development-stage biotechnology company, said late Thursday its third-quarter loss widened on higher research, development, and interest e...

Activision Blizzard shares rise after 3Q results

Shares of Activision Blizzard Inc. rose Friday after the video game publisher posted strong third-quarter results and backed its full-year outlook amid a difficult time for...

Halliburton gets drilling contract

Halliburton Co. said Friday it received a contract to drill and complete oil wells in Saudi Arabia's Ghawar field.Halliburton said the Ghawar field is the world's la...

Brondeau to succeed Walter as CEO at FMC Corp.

Chemical company FMC Corp. said Friday it named Pierre Brondeau as its president and CEO, effective Jan. 1.Brondeau succeeds William G. Walter. He will continue as c...

Chelsea CEO: Team may sell stadium naming rights

The chief executive of English soccer club Chelsea says the team is aiming to win the Champions League twice in the next five years and may sell its stadium naming rights t...

Ask AP: Polluted water, neutralizing nuclear waste

Instead of figuring out where to put nuclear waste, why can't we just find a way to neutralize it so it's no longer hazardous?Curiosity about what to do with nuclear...

Stocks rise as traders shrug off unemployment, Sara Lepro And Tim Paradis

Stocks rose early Friday as investors shrugged off news that more jobs were lost in October than expected, pushing the unemployment rate above 10 percent for the first time...

STR Holdings shares rise modestly in IPO debut

STR Holdings Inc. shares climbed modestly after the solar products company launched its initial public offering but priced below expectations on the New York Stock Exchange...

German orders up 0.9 percent in September, Geir Moulson

German industrial orders increased again in September thanks to strong foreign demand, official figures showed Friday, offering another sign that Europe's biggest economy i...

Worldwide sting turns up millions in smuggled cash, Eileen Sullivan

A crackdown in more than 80 countries turned up $3.5 million hidden in carry-on and checked bags as people smuggled illicit money across international borders.The mo...

Airplane part falls onto NY home's front lawn

An engine tail cone popped off a Delta airlines jet shortly after takeoff from New York's Kennedy Airport. It plummeted thousands of feet into a Long Island neighborhood be...

Activision posts 3Q profit, backs 2009 outlook, Barbara Ortutay

It's been a rough year for the video game industry, but Activision Blizzard Inc. reported a profit for its third quarter because of lower costs and a good response for game...

Economist predicts slow recovery in Hawaii

Next year may be a year of stabilization in Hawaii's economy, but it will likely be 2011 before sustained economic recovery sets in, economist Leroy Laney said.Laney...

AP Sources: GM Europe CEO Forster to leave post, Tom Krisher And George Frey

Carl-Peter Forster, the chief executive of General Motors Europe who runs its struggling Opel unit, has decided to leave the company, two people briefed on the decision sai...

Virginia Supreme Court upholds power line plan, Larry O'dell

The Virginia Supreme Court upheld permits for construction of a multistate power line Thursday, rejecting a claim by the project's opponents that state regulators ceded too...

Stocks drop after unemployment rate tops 10 pct, Sara Lepro

Stocks fell in early trading Friday after the government said more jobs were lost in October than expected, pushing the unemployment rate above 10 percent for the first tim...

Diamond watchdog gives Zimbabwe time to comply

Investigators for the world's diamond control body say the gems were mined by virtual slaves who had been told to dig or die, and were smuggled out by soldiers who rape and...

Pa. locals, Flight 93 families united by history, Jennifer C. Yates

Esther Heymann was overflowing with grief for her stepdaughter. Standing in a blustery snow, overlooking the empty field where Flight 93 had crashed a couple of years earli...

Medical marijuana shops abound in California, Marcus Wohlsen And Greg Risling

A surge in medical marijuana in California has left communities trying to regulate or ban the drug. This wine country town has welcomed a dispensary as a strong source of t...

Phillies title gear a hit far from World Series, Gregg Bell

Rich Stearns works and lives just outside Seattle. He grew up in New York state. He lived in Philadelphia for 10 years.So he was torn as a fan watching the Yankees a...

Salmonella victims upset no prosecutions yet, Greg Bluestein

At the height of the nationwide salmonella outbreak nearly a year ago, FBI agents raided two peanut plants and carried away boxes of evidence. FDA inspectors found roaches,...

Former Iowa slaughterhouse manager testifies

The former manager of a kosher Iowa slaughterhouse that was the site of a massive immigration raid says he never intentionally violated federal laws.But Sholom Rubas...

Jobless rate tops 10 pct. for first time since '83, Christopher S. Rugaber

The unemployment rate has hit double digits for the first time since 1983 — and is likely to go higher.The 10.2 percent jobless rate for October shows how weak the...

Suspect arrested in Milwaukee theft of flu vaccine

Milwaukee police have arrested a man accused of stealing a truck carrying 900 doses of swine flu vaccine.The suspect is a 38-year-old man with a criminal record. Pol...

Deja vu: Wal-Mart, Amazon, Target in DVD price war

Wal-Mart Stores Inc. is upping the ante heading into the holiday season, trimming the online preorder prices of some upcoming DVDs following last month's price cut on books...

Oil falls below $78 as US unemployment rises, Pablo Gorondi

Oil prices lost over $2 to stumble below $78 a barrel Friday as rising U.S. unemployment figures renewed concerns about the economic recovery and consumer demand.By ...

World stocks fall as US jobless rate hits 10.2 pct, Carlo Piovano

European stocks fell and Wall Street was expected to drop on the open Friday after data showed the U.S. unemployment rate jumped to 10.2 percent in October, more than expec...

Boston Scientific paying $296 million settlement

Medical device maker Boston Scientific Corp. said Friday it will pay $296 million to settle a Department of Justice investigation into the company's Guidant unit.The...

Ahead of the Bell: Nvidia up after beating views

Driven by strength across all its businesses, Nvidia Corp. posted better-than-expected results for its third quarter, sending shares higher in premarket trading Friday....

Dolan more than doubles 3Q profit

Dolan Media Co., a provider of legal and professional publications and services, said Friday its third-quarter profit more than doubled as revenue grew sharply in its mortg...

Mexican environmentalists denounce beach ruling, Mark Stevenson

Environmentalists expressed outrage Thursday after a Mexican judge upheld a requirement that they post a $1.1 million bond to pursue a suit against a project to rebuild Can...

Mattress firm founder's son found mentally unfit

A judge has ruled that a Long Island man accused of murdering his mother is not mentally fit to stand trial.Eduardo Barragan, the son of the businessman who founded ...

Stock futures drop after unemployment rate jumps, Sara Lepro

Stock futures sank Friday after the government said more jobs were lost in October than expected, pushing the unemployment rate above 10 percent for the first time since 19...

Police sorting luggage allegedly stolen by couple

Locked safes, medical equipment and clothing piled from floor to ceiling were among the hoards of personal belongings sorted by police on Thursday after a couple was arrest...

Governor: New proposal in Philly transit strike

Gov. Ed Rendell said Friday a new proposal has been sent to the union in an effort to end the strike by Philadelphia transit workers, now entering its fourth day.The...

CF Industries rejects Agrium's newest takeover bid

CF Industries Holdings Inc. has rejected rival fertilizer maker Agrium Inc.'s sweetened takeover bid, saying the $4.5 billion bid significantly undervalues the company....

House lawmakers meet on RI's tanking economy

State lawmakers are debating plans ranging from auto racing to consolidating municipal services to steer Rhode Island through a bleak financial crisis.The proposals ...

ND oil lease auction brings record $71.6M, Dale Wetzel

An auction of oil drilling rights on North Dakota state land has fetched $71.6 million, a record haul that will go mostly to benefit public schools.Oil producers and...

Ex-Home Depot manager faces theft charges in Ga.

A former Home Depot Inc. manager is facing federal charges that he shared the Atlanta-based retail giant's trade secrets with a potential vendor.Guillermo Martinez w...

Ohio governor hails Alcoa $110 million investment

Alcoa Inc. plans to invest more than $110 million at its Cleveland plant in part to refurbish a forging press used in the production of the F-35 Joint Strike Fighter plane....

Alabama credits 3,600 jobs to Kia's Georia plant

Alabama is benefiting from Kia's assembly plant on the Georgia state line.The Alabama Development Office released a statement Thursday saying Kia is responsible for ...

Minn. burger joint settles with McDonald's over ad

A Minnesota hamburger parlor and McDonald's Corp. have settled a federal lawsuit over the phrase, "Who's your patty?"Michael Lafeber is an attorney for The Lion's Ta...

Canada's unemployment rate rises

Canada's unemployment rate rose to 8.6 percent in October from 8.4 percent a month earlier as the economy shed 43,200 jobs, the government said Friday.The decline in...

AIG posts 2nd consecutive quarterly profit, Stephen Bernard

AIG said Friday it was profitable for the second straight quarter as its core insurance operations continue to stabilize after the company's bailout by the government last ...

Report: Fla. investment agency under investigation

The Florida agency that manages $132 billion in pension and local government investments is under investigation by the Securities and Exchange Commission.The St. Pet...

US stock futures steady ahead of jobs report, Sara Lepro

Stock futures are holding steady as investors await the government's report on October employment.The report from the Labor Department is considered a key gauge of t...

Ahead of the Bell: Wholesale Inventories

Businesses likely slashed wholesale inventories for a record 13th consecutive month in September. But analysts expect sales rose for a sixth straight month.Steadily ...

Ahead of the Bell: Consumer Credit

Consumers likely reduced their borrowing for an eighth straight month in September, as layoffs continue and credit remains tight. The declines in borrowing are expected to ...

Hannover Re posts 3Q net income of $235 million, George Frey

German reinsurance company Hannover Re AG reported net income of euro159 million ($235 million) in the third quarter from a loss a year ago, as a result of an increase in p...

China criticizes US over pipe duties, Joe Mcdonald

China criticized Washington for imposing anti-dumping duties on Chinese-made steel pipes and launched a probe Friday of imported U.S. autos, adding to trade tensions two we...

World markets rise ahead of key US jobs data, Pan Pylas

Stock markets rose Friday ahead of the release of key U.S. jobs data, which markets use to gauge the health of consumer spending in the world's largest economy in the run-u...

G20 officials to wrestle over economic imbalances, Jane Wardell

The world's top financial officials on Friday sought a blueprint for securing future global growth and worked to break a break a deadlock over who bears the cost of fightin...

World markets mixed ahead of US jobs report, Kelly Olsen

Asian markets advanced Friday on the back of Wall Street's rally after upbeat economic figures revived confidence about the state of the American economy. But European stoc...

British Airways posts H1 loss of $346 million, Robert Barr

British Airways PLC on Friday reported a net loss of 208 million pounds ($346 million) in the six months ending in September as the global economic downturn continued to ta...

Oil nears $80 a barrel amid stock market surge, Alex Kennedy

Oil prices climbed toward $80 a barrel Friday, catching up with a surge in global stock markets and assisted by a slightly weaker dollar which made crude more attractive to...

Royal Bank of Scotland posts $3 billion 3Q loss

Government-controlled Royal Bank of Scotland Group PLC on Friday reported a net loss of 1.8 billion pounds ($3 billion) but that underlying profits had improved and lending...

Amdocs shares jump on solid 1Q forecast

Shares of Amdocs Ltd. rose Thursday after the telecommunications equipment maker posted higher fourth-quarter earnings and gave a solid forecast for its fiscal first quarte...

Skyworks Solutions 4Q profit rises

Skyworks Solutions Inc., which makes semiconductors for wireless products, said Thursday its profit increased as lower operating costs offset a slight decline in sales....

Harris Stratex Networks reports fiscal 1Q loss

Harris Stratex Networks Inc., which makes wireless equipment, said Thursday it swung to a fiscal first-quarter loss, mostly due to restructuring and other one-time charges....

Leap 3Q loss widens as subscriber growth slows

Leap Wireless International Inc. said Thursday its third-quarter loss grew 31 percent as competition and the weak economy were a drag on subscriber growth.The compan...

Skyworks Solutions ups outlook for current quarter

Semiconductor maker Skyworks Solutions Inc. said Thursday that revenue will grow in the current quarter, and set a profit target above analysts' expectations.Skywork...

Sapient 3Q profit plummets on charges, sales dip

Technology-services provider Sapient Corp. said Thursday that third-quarter profits plunged by two-thirds, partly due to special charges, and the CEO said customers were gr...

Sapient predicts rise in services sales

Sapient Corp., which helps companies with technology needs, said Thursday that services revenue would rise sequentially in the fourth quarter.The company said servic...

Royal Bank of Scotland posts $3 billion Q3 loss

Government-controlled Royal Bank of Scotland Group PLC on Friday reported a net loss of 1.8 billion pounds ($3 billion) despite an improvement in underlying profits and sai...

Unemployment nears 10 pct. as rebound remains slow, Christopher S. Rugaber

The economy is rebounding from its deepest slump since the 1930s, but it probably won't seem that way when the government releases its monthly employment report on Friday.<...

Asian markets rise after US rally on upbeat data, Kelly Olsen

Asian markets advanced Friday on the back of Wall Street's rally after upbeat economic figures revived confidence about the state of the U.S. economy.Every major mar...