Latest Business Stories
Broke no laws, IRS official says - then takes 5th
At the center of a political storm, an Internal Revenue Service supervisor whose agents targeted conservative groups swore Wednesday she did nothing wrong, broke no laws and never lied to Congress. Then she refused to answer lawmakers' further questions, citing her Fifth Amendment right not to incriminate herself. In one ...
House passes GOP bill to speed pipeline approval
House Republicans pushed through a bill Wednesday to bypass the president to speed approval of the Keystone XL oil pipeline from Canada to Texas. Democrats criticized the legislation as a blatant attempt to allow a foreign company to avoid environmental review. The bill was approved, 241-175, largely along party lines. ...
HP's 2Q offers hope even as revenue slump deepens
Hewlett-Packard is still scrambling to meet the growing demand for more versatile and less expensive mobile devices as a slump in its personal computer sales deepens, but the company's cost-cutting measures and focus on more profitable areas of technology appear to be easing the pain. The conflicting signs of further ...
Tesla uses stock, note sale to repay government
Tesla Motors, which makes a highly acclaimed $70,000 electric car, has paid off a startup loan from the U.S. government nine years early. The Palo Alto, Calif., company said it wired in a $451.8 million payment to the government on Wednesday. The money, coupled with two prior payments, paid off ...
Stocks fall on news Fed weighed cutting stimulus
The Federal Reserve took financial markets for a ride Wednesday, pushing stock prices up in the morning then sending them down in the afternoon. Prices surged on congressional testimony by Fed Chairman Ben Bernanke early in the day that suggested the central bank would not slow its massive economic stimulus ...
FDA panel backs experimental Merck insomnia drug
A federal panel of medical experts said that an experimental insomnia drug from Merck & Co. Inc. appears safe and effective, despite evidence from company trials that the pill can cause daytime sleepiness and difficulty driving. A majority of Food and Drug Administration panelists voted Wednesday that Merck's sleeping aid, ...
Talk of lies, pride as Trump case goes to jury
The attorney for an 87-year-old woman who accuses Donald Trump of cheating her in a skyscraper condo deal told jurors in Chicago on Wednesday that he was personally repulsed by the "Apprentice" star whom he said lied on the witness stand. The comments came during a sarcasm-filled closing argument at ...
Senators warm to transportation nominee
President Barack Obama's nominee for transportation secretary — Charlotte Mayor Anthony Foxx — received a friendly reception from senators of both parties Wednesday laced with warnings that the nation needs to make a host of transportation improvements with no clear way to pay for them. Foxx told a jammed Senate ...
Key House chairman slams Senate immigration bill
A key House committee chairman on Wednesday sharply criticized a wide-ranging immigration bill just passed by a Senate committee, underscoring the difficulties ahead as the politically volatile measure moves forward in a divided Congress. Separately, a bipartisan House group that has been working behind the scenes to craft its own ...
Am. Samoa to keep flier miles of govt travelers
American Samoa plans to take away frequent flier miles from government workers who travel on behalf of the U.S. territory and use the loyalty points to help medical patients and students travel off the islands when necessary. Hawaiian Airlines agreed to the plan that takes effect on June 1, American ...
Target's 1Q profit drops 29 pct on weak sales
Target Corp. reported a 29 percent drop in first-quarter profit as unusually cool spring weather and financial pressures chilled customers' appetite for spending. The company, based in Minneapolis, also on Wednesday cut its annual profit outlook, sending its stock down. Target is the latest in a string of companies including ...
Lowe's 1Q profit rises, but results miss Street
Lowe's said Wednesday that its first-quarter net income rose nearly 3 percent, but results fell short of expectations as rainy weather hurt spring gardening sales. The No. 2 home improvement retailer's results stood in contrast to those reported a day earlier by Home Depot. Lowe's larger rival reported an 18 ...
A divided Fed wrestles with when to slow bond buys
The Federal Reserve is torn over when to slow its aggressive efforts to stimulate the economy. Its uncertainty burst into view Wednesday, when Chairman Ben Bernanke testified to Congress in the morning and the Fed in the afternoon released the minutes of its last policy meeting. Stock prices gyrated through ...
Vatican releases 1st report of financial watchdog
The Vatican took another step Wednesday to show greater financial transparency by publishing the first annual report from its financial watchdog agency and announcing new regulations to fight money laundering and terror financing. The report from the Financial Intelligence Authority showed the agency received six internal reports on suspicious transactions ...
Iceland forms center-right govt, halts EU talks
The leader of the center-right Progressive Party was chosen as Iceland's new prime minister Wednesday and promptly announced a halt to talks with the European Union about joining the 27-nation bloc. Sigmundur David Gunnlaugsson spoke about the policy shift at a press conference after being selected premier. "The government intends ...
Trial for captain in deadly shipwreck in Italy
An Italian judge has ordered the captain of the Costa Concordia cruise ship to stand trial for manslaughter in the vessel's shipwreck off the coast of Tuscany, which killed 32 people. Judge Pietro Molino, at a closed-door hearing Wednesday in the town of Grosseto, agreed to prosecutors' request that Capt. ...
Oil falls near $94 on small drop in supplies
The price of oil fell near $94 a barrel Wednesday as the nation's oil supply fell less than expected and demand for gasoline remained weak. Benchmark crude for July delivery declined $1.90 to close at $94.28 a barrel on the New York Mercantile Exchange. The Energy Department said U.S. crude ...
Fiat Industrial aims to shift tax home to Britain
Fiat Industrial disputed as "absolutely false" reports Wednesday that Italy would lose 500 million euros ($646 million) in tax revenues if it moves its tax base to Britain after it completes a merger with its U.S.-based subsidiary CNH Global NV. But the maker of heavy trucks, farm and construction vehicles ...
Fed weighed slowing its pace of bond purchases
Several Federal Reserve policymakers this month favored slowing the Fed's efforts to maintain record-low long-term interest rates as early as June — if the economy showed strong and sustained growth. But those officials appeared at odds over what evidence would demonstrate such gains. Minutes of the Fed's April 30-May 1 ...
EU steps up fight against tax evasion by end 2013
The European Union's leaders took a major step in tackling tax-dodgers Wednesday by pushing to end bank secrecy across the bloc's 27 members by the end of the year. German Chancellor Angela Merkel hailed the agreement to set up an automatic exchange of bank information among the EU's tax authorities ...
Featured Articles
Ads By Google
From Our News Partners
© 2013 Cox Media Group. By using this website,
you accept the terms of our Visitor Agreement and Privacy Policy, and understand your options regarding Ad Choices
.
You're Almost Done!
Select a display name and password
{* #socialRegistrationForm *} {* socialRegistration_displayName *} {* socialRegistration_emailAddress *} {* traditionalRegistration_password *} {* traditionalRegistration_passwordConfirm *}Tell us about yourself
{* registration_firstName *} {* registration_lastName *} {* registration_postalZip *} {* registration_birthday *} {* registration_gender *} {* agreeToTerms *}