Business News

AP News - 31 minutes ago

American Express Co.'s net income grew 9 percent in the second quarter, as spending by cardholders increased and the credit card issuer set aside less money to cover potential credit losses. A one-time gain related to the company's business travel divi ...more

AP News - 1 hour ago

WELLINGTON, New Zealand (AP) — A group of Air New Zealand passengers finally got airborne Tuesday after being stranded for three nights due to repeated delays from mechanical problems.The upside? They were stuck in Hawaii. And every passenger is ...more

AP News - 2 hours ago

NEW YORK (AP) — Samsung Electronics Co., the world's biggest maker of smartphones, saw its sales drop in the second quarter, a research firm said Tuesday.The Korean phone giant lost ground to upstart Chinese manufacturers after several years of ...more

AP News - 2 hours ago

Biologic drugmaker Amgen said Tuesday that it will lay off 12 percent to 15 percent of its worldwide workforce and close four sites, even as it reported very strong second-quarter results that trounced Wall Street expectations.The maker of Proli ...more

AP News - 2 hours ago

NEW YORK (AP) — Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and the Nasdaq Stock Market:NYSECorning Inc., down $2.05 to $20The specialty glass maker reported quarterly profit matching Wa ...more

AP News - 3 hours ago

CHICAGO (AP) — Grain futures were lower Tuesday on the Chicago Board of Trade.Wheat for Sept delivery was 14.75 cents lower at $5.20 a bushel; Sept corn was 6.25 cents lower at 3.6150 a bushel; Dec oats were 4.25 cents lower at $3.3325 a bushel; ...more

AP News - 4 hours ago

BUENOS AIRES, Argentina (AP) — Argentina risks financial default unless it reaches an agreement with a group of holdout bondholders by Wednesday. Here are the issues at stake:HOW DID ARGENTINA GET HERE?In 1998, Argentina fell into recessi ...more

AP News - 5 hours ago

Pfizer's second-quarter earnings plunged 79 percent from last year, when the world's second-largest drugmaker booked a $10 billion-plus gain from a business spinoff.The New York company said Tuesday it earned $2.91 billion, or 45 cents per share ...more

AP News - 6 hours ago

GENEVA (AP) — Switzerland's biggest bank, UBS, reported Tuesday a 15 percent rise in second-quarter profit, driven by its core wealth management business, and disclosed it was part of a group of financial companies being investigated over alternative t ...more

AP News - 7 hours ago

A big one-time gain and a tax benefit helped drugmaker Merck & Co. more than double second-quarter profit, improve its profit forecast and top analysts' expectations.The maker of popular Type 2 diabetes pill Januvia said Tuesday that net inc ...more