Financial News from AP

  • Sina suspends book site after pornography reported Associated Press - 1 hour 28 minutes ago

    Sina.com says it has temporarily closed its literature site after the Chinese web giant was alleged to be hosting pornography. A notice on its reading channel Friday said Sina had decided to take books ...

  • Egypt tries to save money on wheat subsidies Associated Press - 1 hour 39 minutes ago
    Egypt tries to save money on wheat subsidies

    Egypt will try to save half the money it spends on wheat subsidies by issuing a new smart card system to ensure that the cheap bread goes to only the neediest. Egypt is the world's largest importer of ...

  • Baidu profit up 24.1 percent on strong ad revenue Associated Press - 1 hour 39 minutes ago

    Baidu Inc., operator of China's most popular Internet search engine, said Friday its quarterly profit jumped 24.1 percent over a year earlier as its mobile business grew. Profit rose to 2.5 billion yuan ...

  • HK bankers add to calls for democracy from Beijing Associated Press - 1 hour 43 minutes ago

    A group of Hong Kong finance industry professionals are pledging to join an Occupy-style movement to protest growing influence from Beijing that they say is undermining the Asian financial hub's economy. ...

  • KPN sales fall; barely profitable in first quarter Associated Press - 1 hour 58 minutes ago

    Royal KPN NV, the Dutch telecommunications company partly owned by Mexican billionaire Carlos Slim, says revenues fell in the first quarter and earnings dropped 98 percent due to falling profitability ...

  • Honda's profit doubles on weak yen, strong sales Associated Press - 2 hours 0 minutes ago

    Honda's profit for the fiscal fourth quarter zoomed to more than double the previous year's as the benefits of a weak yen added to strong sales. Honda Motor Co. said Friday that January-March net profit ...

  • S&P cuts Russia's credit rating Associated Press - 2 hours 2 minutes ago

    The Standard & Poor's credit agency on Friday cut Russia's credit rating for the first time in more than five years, citing the capital flight and risk to investment in the wake of the Ukraine crisis. ...

  • Iran cuts portion of gasoline subsidies Associated Press - 2 hours 55 minutes ago

    Iran has cut a portion of its gasoline subsidies, nearly doubling some prices at the pump as part of a second round of cuts delayed since 2012. Friday's move will test public support for moderate President ...

  • US, Japan say Pacific trade talks make headway Associated Press - 3 hours ago
    US, Japan say Pacific trade talks make headway

    Closing two days of around the clock negotiations, U.S. officials said Friday that they reached a breakthrough with Japan to move forward a stalled regional trade pact even though gaps remain that could ...

  • US, Japan say TPP trade talks make headway Associated Press - 3 hours ago
    US, Japan say TPP trade talks make headway

    Closing two days of around the clock negotiations, U.S. officials said Friday that they reached a breakthrough with Japan to move forward a stalled regional trade pact even though gaps remain that could ...

  • Study: US manufacturers gaining competitiveness Associated Press - 4 hours ago
    Study: US manufacturers gaining competitiveness

    U.S. manufacturers have grown more competitive over the past decade compared with factories in China, Brazil and most of the world's other major economies. So says a new private study, which found that ...

  • Nevada rancher defends remarks, loses supporters Associated Press - 4 hours ago
    Nevada rancher defends remarks, loses supporters

    A Nevada rancher who became a conservative folk hero for standing up to the government in a fight over grazing rights lost some of his staunch defenders Thursday after wondering aloud whether blacks might ...

  • Mandalay Bay expo center getting $66M expansion Associated Press - 5 hours ago
    Mandalay Bay expo center getting $66M expansion

    The Mandalay Bay resort in Las Vegas announced a $66 million expansion project that will boost its convention center from the seventh-largest to the fifth-largest in the United States. Hotel officials ...

  • Brewer vetoes controversial ride-sharing bill Associated Press - 5 hours ago

    Arizona Gov. Jan Brewer on Thursday vetoed legislation that would have exempted Uber and other ride-sharing companies from insurance regulations imposed on traditional taxi and livery companies. Saying ...

  • United Technologies to get $400 million tax deal Associated Press - 6 hours ago

    State lawmakers gave final legislative approval Thursday to a $400 million tax credit deal with United Technologies Corp., but not without some concerns that Connecticut has to "play defense" ...

  • Brewer vetoes controversial Uber bill Associated Press - 7 hours ago

    Arizona Gov. Jan Brewer on Thursday vetoed legislation that would have exempted Uber and other rideshare companies from insurance regulations imposed on traditional taxi and livery companies. Saying the ...

  • Seattle stymied in efforts to raise minimum wage Associated Press - 7 hours ago
    Seattle stymied in efforts to raise minimum wage

    Highlighting the contentious debate around raising the minimum wage to $15 an hour in a supportive city, Seattle Mayor Ed Murray said Thursday that no agreement has been reached among business and labor ...

  • Google, Apple settle high-tech workers' lawsuit Associated Press - 7 hours ago
    Google, Apple settle high-tech workers' lawsuit

    Google, Apple, Intel and Adobe Systems have settled a class-action lawsuit alleging they conspired to prevent their engineers and other highly sought technology workers from getting better job offers from ...

  • California smartphone 'kill switch' bill fails Associated Press - 8 hours ago

    A bill that would force electronics manufacturers to install a shut-off function in all smartphones narrowly failed in the state Senate on Thursday but could be revived later this spring. The legislation ...

  • Court filing says ship in Texas spill was speeding Associated Press - 8 hours ago
    Court filing says ship in Texas spill was speeding

    The owner of a tugboat that collided with a ship last month, dumping nearly 170,000 gallons of oil into the Houston Ship Channel, claims in court filings the ship was speeding and being operated in a reckless ...

  • United loses money; other airlines post 1Q profits Associated Press - 8 hours ago
    United loses money; other airlines post 1Q profits

    Even with the turbulence of severe winter storms and stubbornly high fuel prices, many of the major airlines are cruising and their stock prices are soaring. Mergers have reduced competition and made it ...

  • Postal workers' unions protest Staples program Associated Press - 8 hours ago
    Postal workers' unions protest Staples program

    Postal workers in cities big and small protested in front of Staples stores on Thursday, objecting to the U.S. Postal Service's pilot program to open counters in stores, staffed with retail employees. ...

  • Netflix joining lineup of 3 US cable-TV services Associated Press - 8 hours ago

    Netflix's Internet video service is about to join the programming lineup of three small cable-TV providers in the U.S., a breakthrough that acknowledges the growing popularity of online entertainment. ...

  • Vermont ups the ante on genetically modified foods Associated Press - 8 hours ago
    Vermont ups the ante on genetically modified foods

    Vermont has raised the stakes in the debate over genetically modified foods by becoming the first state to pass a bill requiring that they be labeled as such in the grocery aisle, making the move despite ...

  • Defense contractor accused of selling phony parts Associated Press - 8 hours ago

    A new indictment accuses a Coos Bay, Ore., defense contractor of defrauding the military of $10.5 million by supplying phony truck and helicopter parts. The indictment was filed last week in U.S. District ...

  • FDA backs off animal feed rule affecting brewers Associated Press - 9 hours ago
    FDA backs off animal feed rule affecting brewers

    The U.S. Food and Drug Administration said Thursday it will revise proposed livestock feed rules after hearing objections about the potential cost from brewers who sell grain leftover from making beer ...

  • Cloud strength helps Microsoft earnings top Street Associated Press - 9 hours ago
    Cloud strength helps Microsoft earnings top Street

    Results from Microsoft's first quarterly earnings release under new CEO Satya Nadella offered fresh justification for his focus on cloud computing. Microsoft Corp. on Thursday posted net income and revenue ...

  • Starbucks eyes soda and lunch as US sales climb Associated Press - 9 hours ago
    Starbucks eyes soda and lunch as US sales climb

    Starbucks keeps finding ways to squeeze more money out of people. The Seattle-based chain reported a stronger quarterly profit Thursday as global sales at established locations rose 6 percent, including ...

  • Major oil and gas firm to list fracking chemicals Associated Press - 9 hours ago

    A major supplier to the oil and gas industry says it will begin disclosing 100 percent of the chemicals used in hydraulic fracturing fluid, with no exemptions for trade secrets. The move by Baker Hughes ...

  • Pandora narrows 1Q loss Associated Press - 9 hours ago

    Pandora said Thursday that increased advertising and subscription revenue helped narrow its first-quarter loss. But its outlook for second-quarter earnings fell shy of Wall Street expectations and its ...

  • Northwestern players to cast historic union vote Associated Press - 9 hours ago
    Northwestern players to cast historic union vote

    Northwestern University's football players will cast ballots Friday on whether to form the nation's first union for college athletes — a potentially landmark vote that will be kept sealed for months and ...

  • Convicted KPMG inside trader sentenced to prison Associated Press - 9 hours ago

    A former partner at the accounting firm KPMG has been sentenced to 14 months in federal prison for insider trading. Scott London, of Agoura Hills, was sentenced Thursday in Los Angeles. He'll also have ...

  • Keystone XL pipeline part of larger Senate fight Associated Press - 10 hours ago
    Keystone XL pipeline part of larger Senate fight

    Alison Lundergan Grimes is the latest Democratic Senate candidate to call for building the Keystone XL oil pipeline, but the Kentucky secretary of state's move doesn't seem to have cost her support among ...

  • Starbucks eyes US expansion as sales climb Associated Press - 10 hours ago

    Starbucks keeps finding ways to squeeze more money out of people. The Seattle-based chain reported a stronger quarterly profit Thursday as global sales at established locations rose 6 percent, including ...

  • California bill attacks growing corporate wage gap Associated Press - 10 hours ago

    A California effort to lead a national debate over the growing wage gap between CEOs and average workers took its first step in the state Legislature on Thursday with support from Democratic lawmakers, ...