NC Supreme Court sides with tobacco companies over ending payments to Md., Pa. growers. North Carolina's highest court ruled Friday that three cigarette companies no longer have to make payments to tobacco farmers in Maryland and Pennsylvania under a decade-old settlement.
Dr. Donald Baim, a renowned cardiologist and medical device executive, died Friday following surgery to treat a form of cancer, his family said in a statement. He was 60.
Donald Baim, Harvard professor and Boston Scientific executive, dies at 60. Dr. Donald Baim, a renowned cardiologist and medical device executive, died Friday following surgery to treat a form of cancer, his family said in a statement. He was 60.
Regulators shut banks in 5 states; marks 120 US bank failures this year. Regulators on Friday shut banks in Georgia, Michigan, Minnesota, Missouri, and California, bringing the number of bank failures this year to 120 amid the struggling economy and a cascade of defaults on loans.
Warren Buffett's company says 3Q net income triples to $3.2B as value of its derivatives soar. Paper gains on derivative contracts helped Berkshire Hathaway Inc. triple its third-quarter profit as its insurance businesses did well, but Warren Buffett's company said Friday that many of its other operating businesses struggled.
Airline shares rise sharply as oil prices fall, easing fears over jet fuel costs. Airline stocks rose Friday as oil prices tumbled, easing the carriers' fears over jet fuel costs.
Mesa Air says United Airlines didn't extend deal for operation of 26 regional jets. Mesa Air Group Inc. said Friday that United Airlines did not extend an agreement under which Mesa operated 26 regional jets for the larger carrier.
Earnings Preview: Ticketmaster's 3rd-qtr results seen inching higher ahead of proposed merger. Ticketmaster Entertainment Inc., the nation's largest ticket seller and proposed merger partner of Live Nation Inc., is scheduled to report its third-quarter earnings on Monday. The following is a summary of key developments and analyst opinion related to the period.
Earnings Preview: Live Nation 3rd-qtr results seen falling as investors await merger update. Live Nation Inc., the world's biggest concert promoter and proposed merger partner of Ticketmaster Entertainment Inc., is scheduled to report its third-quarter earnings on Monday. The following is a summary of key developments and analyst opinion related to the period.
Hyatt Hotels underwriters exercise option to buy additional 5.7M shares at $25 each. Hyatt Hotels Corp. said Friday that underwriters of its initial public offering have exercised their option to buy 5.7 million more shares of common stock at $25 apiece.
You've seen the TV and print ads. So what exactly is Ally Bank?. Its TV and print ads poke fun at the bait-and-switch tactics of other banks. Its interest rates on CDs have been the most generous in the industry.
WASHINGTON (Reuters) - Bank regulators closed Gateway Bank of St. Louis, in St. Louis, Missouri, and Prosperan Bank, of Oakdale, Minnesota, on Friday, the 118th and 119th U.S. bank to fail this year.
Live Nation-Ticketmaster vote to combine set for Jan. 8, extending past the expected closure. In a tacit acknowledgment of a delay in their plan to combine, Live Nation Inc. and Ticketmaster Entertainment Inc. said in filings Friday that a shareholders meeting to approve the deal is set for Jan. 8.
Oil prices settles below $78 a barrel as US unemployment rate tops 10 percent. Oil prices tumbled Friday after the government said the U.S. unemployment rate topped 10 percent for the first time since 1983.
Consumer borrowing drops by $14.8 billion in September, record 8th straight decline. Consumers borrowed less for a record eighth straight month in September amid rising unemployment and tight credit conditions. Economists worry the declines in borrowing will drag on the fledgling recovery.
Freddie Mac loses $6.3 billion, avoids request for federal aid for 2nd-straight quarter. Freddie Mac's losses narrowed to $6.3 billion in the third quarter, but the government-controlled mortgage finance company didn't need a federal cash infusion.
Construction co. settles 2007 Minneapolis bridge collapse litigation; other suits pending. Victims and the families of those killed in the Interstate 35W bridge collapse in Minneapolis in 2007 agreed Friday to settle their lawsuits against a construction company that was resurfacing the span at the time.
NEW YORK (Reuters) - Freddie Mac <FRE.N> <FRE.P>, the second largest provider of U.S. residential mortgage funding, on Friday posted a loss of $5 billion in the third quarter and predicted it would need more government support amid a "prolonged deterioration" in housing.
In midst of Nebraska budget crunch, explanation of cuts depends on who directors work for. To hear directors of some state agencies tell it, managing Nebraska's worst fiscal crisis in recent memory isn't that big of a deal. Others tell a totally different story, one of significant cutbacks in services.
US auto giant General Motors is in advanced talks with its Chinese partners on a proposal to bring their vehicles to India, according to the Press Trust of India.
US auto giant General Motors is in advanced talks with its Chinese partners on a proposal to bring their vehicles to India, according to the Press Trust of India.
Global banking giant HSBC said it was renewing its sponsorship of the Women's Champions tournament for the next three years, but prize money would be slashed.
The jump in US unemployment above 10 percent for the first time since 1983 will pressure President Barack Obama to find additional stimulus to keep a fragile economic recovery on track, analysts say.
Shell Oil Company will pay California more than 19 million dollars because of environmental violations at service stations throughout the state, officials said.
NEW YORK (Reuters) - As unemployment in the United States edges above 10 percent, anxious investors will look to earnings reports from major retailers for signs of life in the beaten-up consumer.
Obama signs bill extending jobless benefits, homebuyer tax credit. President Barack Obama signed a $24 billion economic stimulus bill into law Friday, giving tax incentives to prospective homebuyers and additional jobless benefits to those idled by the business slump.
Ex-Idaho transportation director sues state, claims firing was part of governor's power play. The former head of the Idaho Transportation Department filed a lawsuit Friday against the agency, saying she was fired in a political power play to help Gov. C.L. "Butch" Otter and his big campaign donors.
Dolan Media buys 85 percent stake in document-review firm DiscoverReady. Dolan Media Co. said Friday it bought an 85 percent stake in DiscoverReady LLC, which provides document-review services to companies and their lawyers.
NEW YORK (Reuters) - Warren Buffett's Berkshire Hathaway Inc <BRKa.N> <BRKb.N> on Friday said quarterly earnings tripled, as rising stock markets boosted its investment holdings and a quiet hurricane season contributed to higher insurance profit.
Business Highlights. Jobless rate tops 10 pct. for first time since '83
NEW YORK (Reuters) - Private equity firm Blackstone Group LP <BX.N> posted a forecast-beating quarterly profit on Friday and said it is gearing up for more deals and IPOs as the lending and equity markets recover.
WASHINGTON (Reuters) - Bank regulators closed Home Federal Savings Bank, of Detroit, on Friday, the 117th U.S. bank to fail this year as deteriorating loans continue to take their toll on financial institutions.
Colo. gov proposes K-12 schools cut and sales tax on soda, online sales to help balance budget. Facing an expected $1 billion shortfall in next year's budget, Colorado Gov. Bill Ritter is proposing a 4.6 percent cut in education spending and charging sales tax on items including candy and soda and online purchases.
Joblessness at 10 percent for 2nd time since WWII; millions of unemployed feel no recovery. Just when it was beginning to look a little better, the economy relapsed Friday with a return to double-digit unemployment for only the second time since World War II and warnings that next year will be even worse than previously thought.
Shell Oil agrees to pay $19.5M judgment for environmental violations at Calif. gas stations. Shell Oil Co. has been ordered to pay $19.5 million to the state for environmental violations at gas stations around California.
Florida CFO Sink, Sen. Gelber want oversight bolstered on agency investing state's money. Two top Florida Democrats want changes to the makeup of the board that oversees Florida's $130 billion investment portfolio now under scrutiny from the U.S. Securities and Exchange Commission.
Sports management agency Crown sues Monster energy drink maker for fraud, deceit. Sports management agency Crown Athlete Management Co. said Friday it has sued the maker of the Monster energy drink, accusing it of fraud and other wrongdoing.
Candidate Artur Davis gets union endorsement in Democratic race for Alabama governor. Gubernatorial candidate Artur Davis has picked up an endorsement from a major union.
'Spider-Man' still a go for Broadway; finds its Spidey in Reeve Carney. Broadway has found its Spider-Man ? rock singer Reeve Carney.
NJ governor-elect Christie says he'll veto any tax increase Legislature sends in coming year. New Jersey's next governor vowed Friday to veto any tax increase the Legislature sends to his desk in the coming year.
STR Holdings shares rise in IPO debut after pricing below expected range. STR Holdings Inc. shares jumped Friday after the solar products company launched its initial public offering, but shares priced below expectations on the New York Stock Exchange.
Latin America news editors: Region's populist leaders restrict press freedom, silence critics. Populist leaders around Latin America are increasingly making legal and political moves to silence their media critics, the president of the Inter American Press Association said Friday.
Stocks carve small gains as job losses slow even as unemployment hits 10.2 pct; Dow adds 18. Investors undaunted by a surprisingly weak jobs report found enough positive news to nudge stocks higher Friday.
CBS showcases Russian MMA star in latest bid to capture young male viewers on Saturdays. Fedor Emelianenko is ready for his close-up.
Earnings roundup: Freddie Mac losses narrow, PriceSmart 4Q profit slides on operating expenses. Among the earnings stories for Friday, Nov. 6, from AP Financial News:
Mississippi woman sentenced to 3 years for hiding money during bankruptcy. A Mississippi woman has been sentenced to nearly three years in prison for hiding more than $255,000 from a bankruptcy trustee.
Earnings roundup: Berkshire Hathaway 3Q profit triples, Rosetta Resources swings to 3Q profit. Among the earnings stories for Friday, Nov. 6, from AP Financial News:
Friday's Treasury bond market at a glance.
Treasury prices little changed as investors prepare for $81 billion in new debt auctions. Treasury prices mostly rose Friday after the government said the nation's unemployment rate climbed to a 26-year-high of 10.2 percent last month.
CardioNet slides to a loss as it ramps up marketing efforts after Medicare lowered rates. Wireless heart-monitoring device maker CardioNet Inc. fell to a loss in the third quarter, as it had ramped up marketing spending after Medicare lowered reimbursement rates on the company's products.
