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Energy Dept. pulls support for FutureGen
Jan 29 2008 9:16PM (CT)
ST. LOUIS (AP) - The U.S. Department of Energy, frustrated by ballooning costs for an ambitious plan to build a virtually emissions-free power plant, told federal lawmakers Tuesday it expects to pull its support for the $1.8 billion project in Illinois, lawmakers said.
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Energy Dept. pulls support for FutureGen
Jan 29 2008 9:16PM (CT)
ST. LOUIS (AP) - The U.S. Department of Energy, frustrated by ballooning costs for an ambitious plan to build a virtually emissions-free power plant, told federal lawmakers Tuesday it expects to pull its support for the $1.8 billion project in Illinois, lawmakers said.
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Lawyers seek Vioxx deal for Floridians
Jan 29 2008 8:01PM (CT)
NEW ORLEANS (AP) - Hundreds of Florida residents who claim the painkiller Vioxx caused their strokes or heart attacks were squeezed out of a federal court settlement and should be included, their lawyers say.
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Lawyers seek Vioxx deal for Floridians
Jan 29 2008 8:01PM (CT)
NEW ORLEANS (AP) - Hundreds of Florida residents who claim the painkiller Vioxx caused their strokes or heart attacks were squeezed out of a federal court settlement and should be included, their lawyers say.
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FBI probes 14 companies over home loans
Jan 29 2008 7:00PM (CT)
WASHINGTON (AP) - The FBI on Tuesday said it is investigating 14 companies for possible accounting fraud, insider trading or other violations in connection with home loans made to risky borrowers.
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Bankruptcy judge: Dell director must pay
Jan 29 2008 6:15PM (CT)
DALLAS (AP) - A Dell Inc. director and former president of AT&T has been ordered to pay $12 million to what is left of an Internet company that he headed until shortly before it filed for bankruptcy.
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House approves economic recovery plan
Jan 29 2008 6:13PM (CT)
WASHINGTON (AP) - The House, seizing a rare moment of bipartisanship to respond to the economy's slump, overwhelmingly passed a $146 billion aid package Tuesday that would speed rebates of $600-$1,200 to most taxpayers.
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Treasurys hit by shifting rate cut views
Jan 29 2008 5:45PM (CT)
NEW YORK (AP) - Treasury prices mainly fell Tuesday, pushing short-term yields well above recent historic lows, as investors scaled back bets that the Federal Reserve will cut rates sharply this week.
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Treasurys hit by shifting rate cut views
Jan 29 2008 5:45PM (CT)
NEW YORK (AP) - Treasury prices mainly fell Tuesday, pushing short-term yields well above recent historic lows, as investors scaled back bets that the Federal Reserve will cut rates sharply this week.
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Borrowing costs are expected to drop
Jan 29 2008 5:32PM (CT)
WASHINGTON (AP) - Individuals and businesses are likely to see their borrowing costs drop further as the Federal Reserve weighs another interest-rate reduction to bolster a sagging economy.
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U.S. Steel 4Q profit plunges
Jan 29 2008 5:31PM (CT)
PITTSBURGH (AP) - United States Steel Corp. on Tuesday reported substantially lower fourth-quarter profit as acquisition-related costs, job cuts in Europe, lower prices and outage costs weighed down results. Its shares fell nearly 7 percent.
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U.S. Steel 4Q profit plunges
Jan 29 2008 5:31PM (CT)
PITTSBURGH (AP) - United States Steel Corp. on Tuesday reported substantially lower fourth-quarter profit as acquisition-related costs, job cuts in Europe, lower prices and outage costs weighed down results. Its shares fell nearly 7 percent.
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Northwest, JetBlue post 4Q losses
Jan 29 2008 5:11PM (CT)
MINNEAPOLIS (AP) - Northwest and JetBlue lost less money in the fourth quarter than expected, even in the face of high fuel prices, and JetBlue shares jumped more than 20 percent on the possibility of a passenger-sharing deal with Lufthansa.
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Gold and platinum ease from fresh highs
Jan 29 2008 4:59PM (CT)
NEW YORK (AP) - Gold and platinum prices eased off record highs Tuesday as traders cashed in on profits ahead of an expected interest rate cut by the U.S. Federal Reserve.
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UnitedHealth could face Calif. penalties
Jan 29 2008 4:54PM (CT)
SAN FRANCISCO (AP) - UnitedHealth Group Inc. could face fines up to $1.3 billion because its PacifiCare unit allegedly handled claims unfairly after it was taken over by the nation's second-largest health insurer, California officials said Tuesday.
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Countrywide loss doesn't deter BofA
Jan 29 2008 4:51PM (CT)
LOS ANGELES (AP) - The $422 million loss Countrywide Financial Corp. reported Tuesday didn't appear to scare off Bank of America.
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Countrywide loss doesn't deter BofA
Jan 29 2008 4:51PM (CT)
LOS ANGELES (AP) - The $422 million loss Countrywide Financial Corp. reported Tuesday didn't appear to scare off Bank of America.
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Nov. home prices fall, but remain costly
Jan 29 2008 4:22PM (CT)
NEW YORK (AP) - U.S. home prices plunged by a record 8.4 percent in November, marking two years of slowing returns, according to a key index released Tuesday.
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Occidental 4Q profit rises on oil prices
Jan 29 2008 4:11PM (CT)
SAN DIEGO (AP) - Surging oil prices helped Occidental Petroleum Corp. post a 56 percent increase in its fourth-quarter profit Tuesday and its highest annual profit ever.
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Occidental 4Q profit rises on oil prices
Jan 29 2008 4:11PM (CT)
SAN DIEGO (AP) - Surging oil prices helped Occidental Petroleum Corp. post a 56 percent increase in its fourth-quarter profit Tuesday and its highest annual profit ever.
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Oil futures rise on Fed, OPEC views
Jan 29 2008 3:43PM (CT)
NEW YORK (AP) - Oil futures ended an erratic session higher Tuesday as investors focused on expectations that the Federal Reserve will cut interest rates and OPEC will hold production steady, and shrugged off estimates that domestic crude inventories rose last week.
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Home foreclosure rate soars in 2007
Jan 29 2008 3:29PM (CT)
LOS ANGELES (AP) - The number of U.S. homes that slipped into some stage of foreclosure in 2007 was 79 percent higher than in the previous year, a real estate tracking company said Tuesday. Many homeowners started to fall behind on mortgage payments in the last three months, setting the stage for more foreclosures this year.
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GM exec: Car prices could jump
Jan 29 2008 3:16PM (CT)
DETROIT (AP) - U.S. automobile prices could rise significantly in the near future because of industry restructuring and rising raw material and regulatory costs, General Motors Corp.'s chief financial officer said Tuesday.
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EU to chart prices
Jan 29 2008 2:54PM (CT)
BRUSSELS, Belgium (AP) - How much is a liter of milk in London, Paris and Berlin? And where can you get it cheaper?
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BofA Chief: Countrywide deal "a go"
Jan 29 2008 2:54PM (CT)
CHARLOTTE, N.C. (AP) - Bank of America Corp. is moving forward with its purchase of beleaguered mortgage lender Countrywide Financial Corp., Chief Executive Ken Lewis said Tuesday.
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Landmark selling 2 TV stations
Jan 29 2008 2:36PM (CT)
NORFOLK, Va. (AP) - Landmark Communications Inc. said Tuesday it will sell its two broadcast television stations in Las Vegas and Nashville, Tenn. but is still mulling options for its other businesses, including cable television's The Weather Channel.
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Landmark selling 2 TV stations
Jan 29 2008 2:36PM (CT)
NORFOLK, Va. (AP) - Landmark Communications Inc. said Tuesday it will sell its two broadcast television stations in Las Vegas and Nashville, Tenn. but is still mulling options for its other businesses, including cable television's The Weather Channel.
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French rogue trader says his bosses knew
Jan 29 2008 2:26PM (CT)
PARIS (AP) - The trader accused of causing about $7 billion in losses at Societe Generale told investigators that he believes his bosses were aware of his massive risk-taking on markets but turned a blind eye as long as he earned money, a judicial official said Tuesday.
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A snapshot of Fed players
Jan 29 2008 2:09PM (CT)
WASHINGTON (AP) - The men and women who hold considerable sway over your money sit on the Federal Open Market Committee, whose interest-rate decisions ripple through the economy. A look at this year's voting members, now immersed in a two-day policy meeting:
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A snapshot of Fed players
Jan 29 2008 2:09PM (CT)
WASHINGTON (AP) - The men and women who hold considerable sway over your money sit on the Federal Open Market Committee, whose interest-rate decisions ripple through the economy. A look at this year's voting members, now immersed in a two-day policy meeting:
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A snapshot of Fed players
Jan 29 2008 2:09PM (CT)
WASHINGTON (AP) - The men and women who hold considerable sway over your money sit on the Federal Open Market Committee, whose interest-rate decisions ripple through the economy. A look at this year's voting members, now immersed in a two-day policy meeting:
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A snapshot of Fed players
Jan 29 2008 2:09PM (CT)
WASHINGTON (AP) - The men and women who hold considerable sway over your money sit on the Federal Open Market Committee, whose interest-rate decisions ripple through the economy. A look at this year's voting members, now immersed in a two-day policy meeting:
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A snapshot of Fed players
Jan 29 2008 2:09PM (CT)
WASHINGTON (AP) - The men and women who hold considerable sway over your money sit on the Federal Open Market Committee, whose interest-rate decisions ripple through the economy. A look at this year's voting members, now immersed in a two-day policy meeting:
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Northwest Airlines 4Q loss narrows
Jan 29 2008 1:47PM (CT)
MINNEAPOLIS (AP) - Northwest Airlines Corp. posted a narrower fourth-quarter loss Tuesday, beating Wall Street's forecasts despite higher fuel costs.
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IMF sees slowing world economy in 2008
Jan 29 2008 1:46PM (CT)
WASHINGTON (AP) - World economic growth will slow significantly in 2008 but the U.S., whose housing downturn is rattling global financial markets, will avoid recession, the International Monetary Fund forecast Tuesday.
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IMF sees slowing world economy in 2008
Jan 29 2008 1:46PM (CT)
WASHINGTON (AP) - World economic growth will slow significantly in 2008 but the U.S., whose housing downturn is rattling global financial markets, will avoid recession, the International Monetary Fund forecast Tuesday.
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Durable goods orders rise by 5.2 percent
Jan 29 2008 1:39PM (CT)
NEW YORK (AP) - Orders to factories for big-ticket manufactured goods jumped unexpectedly in December, good news amid signs that the U.S. economy may be tipping toward a recession.
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Fed holds fourth credit auction
Jan 29 2008 10:20AM (CT)
WASHINGTON (AP) - The Federal Reserve, working to combat effects of a serious credit crisis, said Tuesday it had auctioned $30 billion in funds to commercial banks at an interest rate of 3.123 percent.
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Fed holds fourth credit auction
Jan 29 2008 10:20AM (CT)
WASHINGTON (AP) - The Federal Reserve, working to combat effects of a serious credit crisis, said Tuesday it had auctioned $30 billion in funds to commercial banks at an interest rate of 3.123 percent.
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3M 4Q profit falls, revenue rises
Jan 29 2008 9:46AM (CT)
MINNEAPOLIS (AP) - 3M Co., maker of Scotch tape, Post-It notes and industrial adhesives, said Tuesday fourth-quarter earnings fell from year-ago results that included a one-time gain.
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Eli Lilly 4Q earnings rise sharply
Jan 29 2008 8:46AM (CT)
INDIANAPOLIS (AP) - The drugmaker Eli Lilly & Co. said Tuesday its fourth-quarter profit surged from a year-ago period that included hefty restructuring costs and liability charges related to its top-selling drug, Zyprexa.
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Eli Lilly 4Q earnings rise sharply
Jan 29 2008 8:46AM (CT)
INDIANAPOLIS (AP) - The drugmaker Eli Lilly & Co. said Tuesday its fourth-quarter profit surged from a year-ago period that included hefty restructuring costs and liability charges related to its top-selling drug, Zyprexa.
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JetBlue reports 4Q loss, annual profit
Jan 29 2008 8:14AM (CT)
NEW YORK (AP) - JetBlue Airways Corp. reported a narrower than expected loss in the fourth quarter and its first full-year profit in three years as an increase in traffic helped the discount airline compensate for skyrocketing fuel costs.
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Dow Chemical 4Q profit beats estimates
Jan 29 2008 7:47AM (CT)
GRAND RAPIDS, Mich. (AP) - Dow Chemical Co. said Tuesday its fourth-quarter earnings fell 52 percent due to restructuring and a $1.7 billion rise in spending on materials and energy, the largest year-over-year cost increase in company history.
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Travelers 4Q profit falls 11 percent
Jan 29 2008 7:41AM (CT)
MINNEAPOLIS (AP) - Travelers Cos., one of the nation's largest commercial insurers, said Tuesday its fourth-quarter profit fell 11 percent on lower premiums and investment income, but still beat Wall Street expectations.
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Travelers 4Q profit falls 11 percent
Jan 29 2008 7:41AM (CT)
MINNEAPOLIS (AP) - Travelers Cos., one of the nation's largest commercial insurers, said Tuesday its fourth-quarter profit fell 11 percent on lower premiums and investment income, but still beat Wall Street expectations.
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AEP 4Q profit, revenue rise
Jan 29 2008 7:37AM (CT)
COLUMBUS, Ohio (AP) - American Electric Power Co., one of the nation's largest power generators, said Tuesday that its fourth quarter profit rose 28 percent, helped by favorable weather, higher rates across much of its service area and marketing efforts that resulted in long-term supply deals.
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AEP 4Q profit, revenue rise
Jan 29 2008 7:37AM (CT)
COLUMBUS, Ohio (AP) - American Electric Power Co., one of the nation's largest power generators, said Tuesday that its fourth quarter profit rose 28 percent, helped by favorable weather, higher rates across much of its service area and marketing efforts that resulted in long-term supply deals.
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European, Asian markets rebound
Jan 29 2008 6:57AM (CT)
LONDON (AP) - European and most Asian stock markets rebounded Tuesday as investors cheered an overnight rally on Wall Street and snapped up beaten down shares on expectations of a U.S. interest rate cut later this week.
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European, Asian markets rebound
Jan 29 2008 6:57AM (CT)
LONDON (AP) - European and most Asian stock markets rebounded Tuesday as investors cheered an overnight rally on Wall Street and snapped up beaten down shares on expectations of a U.S. interest rate cut later this week.
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European, Asian markets rebound
Jan 29 2008 6:57AM (CT)
LONDON (AP) - European and most Asian stock markets rebounded Tuesday as investors cheered an overnight rally on Wall Street and snapped up beaten down shares on expectations of a U.S. interest rate cut later this week.
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European, Asian markets rebound
Jan 29 2008 6:57AM (CT)
LONDON (AP) - European and most Asian stock markets rebounded Tuesday as investors cheered an overnight rally on Wall Street and snapped up beaten down shares on expectations of a U.S. interest rate cut later this week.
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European, Asian markets rebound
Jan 29 2008 6:57AM (CT)
LONDON (AP) - European and most Asian stock markets rebounded Tuesday as investors cheered an overnight rally on Wall Street and snapped up beaten down shares on expectations of a U.S. interest rate cut later this week.
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European, Asian markets rebound
Jan 29 2008 6:57AM (CT)
LONDON (AP) - European and most Asian stock markets rebounded Tuesday as investors cheered an overnight rally on Wall Street and snapped up beaten down shares on expectations of a U.S. interest rate cut later this week.
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NTT DoCoMo profit rises 38 percent in 3Q
Jan 29 2008 6:52AM (CT)
TOKYO (AP) - Japan's top mobile phone carrier NTT DoCoMo said Tuesday its profit rose 38.4 percent in the October-December quarter, buoyed by the introduction of new subscription services and cost-cutting efforts.
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NTT DoCoMo profit rises 38 percent in 3Q
Jan 29 2008 6:52AM (CT)
TOKYO (AP) - Japan's top mobile phone carrier NTT DoCoMo said Tuesday its profit rose 38.4 percent in the October-December quarter, buoyed by the introduction of new subscription services and cost-cutting efforts.
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Japan gets mixed economic data for Dec
Jan 29 2008 6:51AM (CT)
TOKYO (AP) - Japan issued mixed economic data Tuesday in government figures for jobs, spending and sales in December, and officials responded cautiously amid other signs economic growth is slowing.
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EU leaders to discuss economy
Jan 29 2008 6:28AM (CT)
LONDON (AP) - Key European leaders seeking greater transparency in world financial markets are meeting in Britain on Tuesday to discuss ways to rescue the turbulent global economy.
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Dollar slips in Europe
Jan 29 2008 6:24AM (CT)
BERLIN (AP) - The dollar edged slightly downward Tuesday as markets awaited a Federal Reserve decision on interest rates.
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Dollar slips in Europe
Jan 29 2008 6:24AM (CT)
BERLIN (AP) - The dollar edged slightly downward Tuesday as markets awaited a Federal Reserve decision on interest rates.
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Toshiba says 3Q profit rose 11 percent
Jan 29 2008 4:10AM (CT)
TOKYO (AP) - Japanese electronics maker Toshiba said Tuesday an 11 percent rise in profit for the October-December quarter came mainly from gains on the sale of a building in Tokyo's ritzy downtown Ginza district.
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Toshiba says 3Q profit rose 11 percent
Jan 29 2008 4:10AM (CT)
TOKYO (AP) - Japanese electronics maker Toshiba said Tuesday an 11 percent rise in profit for the October-December quarter came mainly from gains on the sale of a building in Tokyo's ritzy downtown Ginza district.
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Group: Ethanol pushing up food prices
Jan 29 2008 3:35AM (CT)
DES MOINES, Iowa (AP) - The nation's fascination with ethanol is pushing food prices upward and raising the specter of potential shortages, according to a report by an environmental think tank.
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Group: Ethanol pushing up food prices
Jan 29 2008 3:35AM (CT)
DES MOINES, Iowa (AP) - The nation's fascination with ethanol is pushing food prices upward and raising the specter of potential shortages, according to a report by an environmental think tank.
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American Express 4Q profit falls 10 pct.
Jan 29 2008 1:32AM (CT)
NEW YORK (AP) - American Express Co.'s 10 percent profit dip during the fourth quarter shows that setting high standards for prospective cardholders helps guard against some credit problems, but not all of them.
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