Money & Markets

Airfare deals pop up as airlines wage fare wars

ABOARD AMERICAN AIRLINES FLIGHT 1223 - Airline fare wars are making a comeback.Don't expect widespread sales or cheap flights home for Thanksgiving. But a number of cities are seeing ridiculously low prices at off-peak hours - prices the industry has spent the years trying to eliminate.Fliers ...

Arizona severs ties with prison operator over riots

PHOENIX - Arizona severed ties with a private prison operator over what the state says was a string of troubling security and training lapses that led to violent riots in July. Gov. Doug Ducey announced the action against Management and Training Corp. after the state released a scathing report ...

Wal-Mart to stop selling AR-15s, similar weapons

LITTLE ROCK, Ark. - Wal-Mart will stop selling the AR-15 rifle and other semi-automatic weapons at its stores because fewer people are buying them, a spokesman said Wednesday. The AR-15 rifles and other modern sporting rifles were being sold at less than a third of the company's 4,600 U.S. ...

China struggles to keep economy on track to ‘new normal’

BEIJING - China's slump is shaking the world economy, turning a country long seen as a growth engine into a possible threat.The slowdown started as a side effect of the Communist Party's plan to steer the world's second-largest economy to a "new normal" of lower, steadier growth. It has turned ...

Budget report sees shrinking deficits, but only for now

WASHINGTON - An unforeseen flood of revenue is shrinking federal deficits to the lowest level of President Barack Obama's tenure, Congress' nonpartisan budget adviser said Tuesday. But in a report that will fuel both parties in their autumn clash over spending, the analysts also warned that ...

Judge approves $225M settlement with Exxon

TRENTON, N.J. - After originally seeking $8.9 billion, New Jersey's $225 million settlement with ExxonMobil over dozens of polluted sites is a reasonable compromise considering the substantial legal risks the state faced, a judge ruled Tuesday in approving a deal that Gov. Chris Christie's ...

US new-home sales rebound in July

WASHINGTON - Americans stepped up their purchases of new homes in July, with sales surging in the Northeast.The Commerce Department says new-home sales rose 5.4 percent last month to a seasonally adjusted annual rate of 507,000, recovering from a slide in purchases in June. Buyers have crowded ...

China’s stocks suffer biggest one-day fall since 2007

BEIJING - China's stock market fell Monday by its biggest margin in eight years, defying the government's multibillion-dollar effort to stop a slide that has wiped out the gains of this year's price boom.The decline threatened to weigh anew on global markets after last week's Chinese losses ...

China’s tremors could weaken the world’s major economies

WASHINGTON - China is exporting something new to the world economy: Fear. Global investors are quaking over the prospect of a devastating slump in the world's second-biggest economy. And they're fast losing confidence that China's policymakers, seemingly so sure-footed in the past, know how to ...

Most economists say Fed will raise rates in 2015

NEW YORK - The vast majority of business economists expect the Federal Reserve will raise interest rates before the end of the year, according to a survey released Monday. Minutes from the Fed's meeting in late July showed that officials could raise rates as early as September. Seventy-seven ...

Man admits forcing immigrant teenagers into egg farm work

MARION, Ohio - The thousand-mile journey to the Texas border was supposed to bring the Guatemalan teenagers to a better life. Instead, it was the beginning of a terrible ordeal: Prosecutors say they were fraudulently plucked from U.S. custody by conspirators posing as friends or family who ...

GM fund rejects 91% of switch claims

DETROIT - Lawyers hired to compensate victims of General Motors' faulty ignition switches have finished determining which claims are eligible, rejecting 91 percent of them. The compensation fund led by lawyer Kenneth Feinberg approved 399 of the 4,343 claims filed and rejected 3,944. Camille ...

Crude closes under $40 a barrel for long-time low

NEW YORK - The price of U.S. oil closed under $40 a barrel on Monday for the first time since the days of the global economic crisis on fears of a slowdown in the world economy.Already trading at six-year lows on a prolonged slump, U.S. crude fell $2.21 to finish at $38.24 per barrel. Oil ...

Out of juvie, into nature: California youth run wild webcams

LOS ANGELES - Harry Grammer, the CEO of a Los Angeles-based nonprofit that works with young adults, wanted to give kids recently out of the juvenile justice system real jobs and marketable skills.Three years ago, a chance meeting gave Grammer what he wanted.Explore.org, a philanthropic media ...

Barrel of US crude drops below $40

NEW YORK - A barrel of U.S. crude oil fell below $40 per barrel for the first time since the end of the global economic crisis.Friday's fall, to $39.86, was just the latest indicator of a vast shift in the energy landscape over the past year. U.S. Oil bounced back a bit to close down 87 cents ...

Chinese manufacturing index falls

BEIJING - China's manufacturing contracted by an unexpectedly large margin this month, a survey showed Friday, adding to signs of economic weakness.The preliminary version of the Caixin purchasing managers' index, formerly sponsored by HSBC Corp., fell to a 77-month low of 47.1 in August from ...

Ashley Madison faces $578M Canadian lawsuit

TORONTO - Two Canadian law firms have filed a $578 million class-action lawsuit against the companies that run Ashley Madison after a hacker group exposed some 39 million memberships in the adultery website earlier this week. Charney Lawyers and Sutts, Strosberg LLP, both of Ontario, said that ...

Dow drops 358 points after China fears spur global sell-off

NEW YORK - The U.S. stock market endured its worst performance in 18 months on Thursday, driven lower by another slump in Chinese shares and heavy selling by technical traders.The global rout started in China, where sharp declines in energy and property stocks pushed the Shanghai Composite down ...

Valeant to spend about $1B on maker of women’s libido drug

WASHINGTON - Valeant Pharmaceuticals will pay about $1 billion in cash to buy Sprout Pharmaceuticals, the maker of the first prescription drug intended to boost sexual desire in women.The deal comes two days after U.S. regulators approved the pill Addyi, a milestone for the drug industry that ...

Average US rate on 30-year mortgage eases to 3.93 percent

WASHINGTON - Average long-term U.S. mortgage rates edged lower this week, with the key 30-year loan rate remaining under 4 percent.Mortgage giant Freddie Mac said Thursday the average rate on a 30-year fixed-rate mortgage ticked down to 3.93 percent from 3.94 percent a week earlier. A year ago, ...