Administration considers help for small business
7:29
The Obama administration is considering using money from the $700 billion financial bailout fund to provide further assistance to the nation's struggling small businesses, in a continuing attempt to find a way to make...
Regulators shut small Wyoming bank
7:27
Regulators have shuttered Bank of Wyoming, marking the 53rd failure this year of a federally insured bank. The Federal Deposit Insurance Corp. on Friday was appointed receiver of the failed bank, based in Thermopolis,...
NYC legal fees for Madoff trustee top $14 million
7:23
A Manhattan law firm working with a court-appointed trustee to unravel Bernard Madoff's massive fraud has so far run up more than $14.6 million in legal fees, according to court papers filed Friday. The papers filed in...
CEO vows better performance as GM exits bankruptcy
7:20
General Motors completed an unusually quick exit from bankruptcy protection on Friday with ambitions of making money and building cars people are eager to buy. Once the world's largest and most powerful automaker, new...
Montana gov blasts GM mine contract cancellation
7:19
Gov. Brian Schweitzer is calling on the Obama administration to force General Motors to honor its contract with a Montana mining company instead of going overseas to buy the precious metals used to control vehicle...
Some NWA flight attendants want to wear red dress
7:05
The union that represents flight attendants who worked for Northwest Airlines before it was bought by Delta Air Lines is crying foul over Delta's failure to offer bigger sizes for its signature red dress uniform...
Chicago lawyer convicted in Refco fraud
6:54
A Chicago lawyer has been convicted in New York of conspiracy in a huge fraud at commodities brokerage giant Refco Inc. Lawyer Joseph P. Collins was convicted Friday of conspiracy and four other charges in Refco's $2.4...
WTC owners offer plan to finance 2nd skyscraper
6:46
The owners of ground zero have offered to partially fund the building of a second tower planned by a private developer. The Port Authority of New York and New Jersey says it will provide $1.2 billion for a skyscraper...
Lancelot Investment accused of aiding Ponzi scheme
6:46
Lancelot Investment Management and its owner have been accused by the U.S. Securities and Exchange Commission of aiding a multibillion dollar Ponzi scheme. According to the SEC, Lancelot Investment and owner Gregory...
Delphi receives no new bidders on assets
6:41
Auto parts maker Delphi Corp. says a deadline has passed with no further bidders on its business, paving the way for a sale to a California private-equity firm and General Motors Corp. However, Delphi says it received...
CAW says Chrysler Canada will save 1,200 jobs
6:40
Chrysler Canada has canceled plans to end the third shift at its minivan plant in Windsor, Ontario, a decision that will save more than 1,200 jobs, the head of the Canadian Auto Workers union said Friday. After months...
CAW says Chrysler Canada will save 1,200 jobs
6:40
Chrysler Canada has canceled plans to end the third shift at its minivan plant in Windsor, Ontario, a decision that will save more than 1,200 jobs, the head of the Canadian Auto Workers union said Friday. After months...
Products recalled due to possible salmonella risk
6:24
The following recalls have been announced because the products may be contaminated with salmonella, an organism that can cause serious and sometimes fatal infections, especially in young children, the elderly and those...
Keys to GM's success after bankruptcy protection
6:14
Even after emerging from bankruptcy protection, the new General Motors still faces some of the same troubles that haunted the old one, which piled up more than $80 billion in losses during the past four years and still...
Amgen appoints Harvard business professor to board
6:12
Biotechnology company Amgen Inc. said Friday that Rebecca Henderson has been appointed to the board of directors. Henderson, 48, recently became a professor at Harvard Business School and has been a director at IDEXX...
American Axle working through restructuring plan
6:09
American Axle is working with longtime legal and financial advisers to consider restructuring options, but the company and a law firm representing it are stopping short of saying they are considering bankruptcy. "After...
The Dow Jones industrials' moves since Lehman fall
6:09
How far the Dow Jones industrial average has fallen or advanced each trading day since Lehman Brothers Holdings Inc. filed for Chapter 11 bankruptcy protection on Sept. 15. Since Lehman's fall, which touched off a...
FDA clears Eli Lilly's blood thinner Effient
6:08
The Food and Drug Administration on Friday approved a highly anticipated blood thinner from Eli Lilly, though the drug must carry the agency's sternest warning because of its bleeding risks. The approval makes Lilly's...
Lockheed gets $262M Air Force Contract
6:06
The Air Force said Friday that it has awarded a $262 million satellite contract to a division of Lockheed Martin Corp. The contract is for long lead parts and material procurement for the Air Force's fourth Space Based...
Business Highlights
5:50
GM exits bankruptcy; CEO vows better performance DETROIT (AP) _ General Motors completed an unusually quick exit from bankruptcy protection on Friday with ambitions of making money and building cars people are eager to...
Stocks post 4th straight week of losses
5:48
Investors seem to be running short on hope. With little upbeat news ahead of a crush of corporate earnings reports next week, stocks on Friday hit their longest losing streak since the market's spring rally began in...
Toyota considering dissolving Nummi joint venture
5:47
Toyota Motor Co. says it is considering dissolving its stake in a California manufacturing plant after General Motors Corp. pulled out of the joint venture. A Toyota spokeswoman declined to comment on whether the...
Sands Bethlehem impact not as bad as feared in AC
5:44
For months, Atlantic City has been dreading the opening of a new casino in Bethlehem, Pa., a short drive from some of its best markets in northern New Jersey and New York. On Friday, when the nation's second-largest...
Administration seeks to bolster SEC's authority
5:43
The Obama administration has sent Congress legislation designed to protect investors by bolstering the authority of the Securities and Exchange Commission. The proposal unveiled Friday is part of the sweeping plan for...
Earnings Preview: J&J sales seen down for 3rd time
5:38
Johnson & Johnson, a Dow component and the world's biggest healthcare company, reports earnings for the second quarter on Tuesday morning. The following is a summary of key developments and analyst opinion related...
Gannett implements layoffs at US newspapers
5:33
The latest wrenching cutbacks at Gannett Co. fell this week, as hundreds of employees at the country's largest newspaper publisher received notices of layoffs. The company informed its newspapers last week that roughly...
How the major stock indexes fared on Friday
5:28
With little upbeat news ahead of a crush of corporate earnings reports next week, stocks on Friday hit their longest losing streak since the market's spring rally began in early March. Stocks zigzagged during the week,...
CIT Group, Chevron, AIG are big movers
5:20
Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market: NYSE: CIT Group Inc., down 33 cents at $1.53 Analysts said the commercial lender is facing a liquidity...
May trade deficit unexpectedly drops to $26B
5:14
The U.S. trade deficit fell to the lowest level in more than nine years in May as exports posted a small gain while the weak American economy pushed imports down for a 10th straight month. The slight rebound in...
Treasurys jump as investors seek safety
5:11
Treasury prices jumped again Friday as investors worried about the economy sought the safety of government debt. Investors turned cautious as they awaited a busy week of corporate earnings reports and economic data....
Federal jury rejects Altria's tax shelter claim
5:11
A federal jury has rejected a $24 million tax refund claim filed by tobacco company Altria Group Inc. The IRS challenged tax deductions the Richmond, Va.-based company made in 1996 and 1997 in connection with leveraged...
Credit card pain: Some say goodbye to fixed rates
5:04
It could be time to kiss fixed-rate credit cards goodbye. Two of the biggest issuers in the nation _ Bank of America and Chase _ say they're switching some fixed-rate cards to variable rates to manage costs in light of...
Dollar trades higher on earnings jitters
5:04
The dollar climbed Friday as the second-quarter earnings season kicks off and investors continued to move into the safety of the American currency. The 16-nation euro fell to $1.3947 from $1.4036 late Thursday in New...
Walgreen promotes CFO to additional VP position
4:55
Walgreen Co. said Friday it promoted Chief Financial Officer Wade Miquelon to the additional role of executive vice president. Miquelon, 44, had previously served as CFO and senior vice president since joining the...
Investors avoid commodities ahead of earnings
4:50
Gold and other commodities sold off Friday as investors refrained from buying risky assets as they await more clarity on the economy from earnings reports. Investors are anxious ahead of the flood of corporate earnings...
Rosetta Stone sues Google over policy change
4:49
Rosetta Stone Inc. on Friday sued Google Inc. for trademark infringement, alleging that a change in the search giant's policy facilitates the unauthorized use of its brand by competitors and software pirates. Rosetta...
Some routes not covered by antitrust immunity
4:46
Federal regulators granted Continental Airlines Inc. immunity from antitrust laws to work with nine other airlines _ letting them act as a single carrier on international service. But the regulators carved out several...
Pringles' many global flavors
4:43
Procter & Gamble Co.'s Pringles snacks, a four-decade-old brand, are sold in more than 140 countries, often in special flavors geared for regional palates: _ Asia _ Rich Consomme, Mild Salt and seafood flavors _...
Pringles facing crunch time
4:42
It's crunch time for Pringles. Procter & Gamble Co. has unleashed the four-decade-old snack in a barrage of new flavors, shapes and sizes with new marketing even as speculation grows that Pringles could be among...
DOT grants antitrust immunity to Continental
4:40
The Transportation Department on Friday granted Continental Airlines Inc. immunity from antitrust laws, allowing it to work closely with a group of other carriers, including United Airlines, on international service. ...
Panel: Banks underpaying gov't to exit bailout
4:38
The Treasury Department is selling its financial stakes in bailed-out banks for one-third less than they're worth, potentially shorting taxpayers up to $2.7 billion, a bipartisan congressional watchdog said Friday. ...
AP Source: AIG consults administration on bonuses
4:26
American International Group Inc. is consulting with the federal government about its plans to pay millions of dollars in retention incentives and bonuses, a person familiar with the situation said. AIG is working with...
CIT Group shares dive as government aid uncertain
4:20
Shares of commercial lender CIT Group Inc. plunged Friday as uncertainty mounts over whether it can get federal backing for its bonds. The New York-based financier to small and mid-sized businesses faces a liquidity...
Conn. businessman convicted in oil bribe case
4:18
A Connecticut businessman was convicted Friday of conspiring with others to corrupt the oil privatization process in Azerbaijan. Frederic Bourke, 63, of Greenwich, Conn., also was convicted by a jury in U.S. District...
Business events scheduled for the coming week
4:12
MONDAY, July 13 WASHINGTON _Treasury releases federal budget for June, 2 p.m.; House Financial Services subcommittee hearing on preventing unfair trading by government officials. JACKSONVILLE, Fla. _ CSX Corp. reports...
Death and taxes: Big IRS bill looms for MJ estate
4:00
The Tax Man is in the mirror for the estate of the late King of Pop. Creditors and heirs of Michael Jackson hoping for a cut of his musical empire will have to line up with the Internal Revenue Service, which could lay...
Agriculture futures trade mixed on the CBOT
3:54
Agriculture futures were mixed Friday on the Chicago Board of Trade. Wheat for September delivery fell 3.5 cents to $5.1875 a bushel, while September corn lost 1.25 cents to $3.2825 a bushel and August soybeans fell...
Oil below $60 as earnings season opens
3:23
Oil prices sank below $60 a barrel Friday, ending a week in which crude has fallen more than 10 percent on growing pessimism about the economy and also the well-being of companies about to report second-quarter...
Chevron shares fall after 2Q warning
3:14
Shares of Chevron Corp. slid on Friday a day after the company warned of weak second-quarter results, hurt by lower refining margins in the U.S. and foreign currency losses. Chevron's stock fell $1.74, or 2.8 percent,...
Porsche board to hold special meeting
2:35
Porsche's supervisory board will hold an extraordinary meeting on July 23, a spokesman said Friday, as the company grapples with debt that it accumulated building up its share in Volkswagen AG. Spokesman Albrecht...