Money & Markets

Blue diamond sells for record $48.5M at auction

GENEVA - An exceptionally large blue diamond sold Wednesday for 48.6 million Swiss francs ($48.5 million) - a new record price for any jewel at auction, Sotheby's said, culminating two Geneva auctions in which a private Hong Kong collector on both times bought a rare colored diamond to honor ...

UAW leaders approve tentative agreement with Ford

DETROIT - The United Auto Workers' proposed contract with Ford Motor Co. - approved Monday by local union leaders - is the richest of the Detroit Three, with a promise of $10,250 in bonuses for most workers this year alone. The union released details of the agreement Monday. Workers must now ...

VW diesel owners to get $1,000 in gift cards, vouchers

DETROIT - Owners of 482,000 diesel Volkswagens and Audis in the U.S. are eligible for $1,000 in gift cards and vouchers as the automaker strives to placate customers dismayed by an emissions-rigging scandal.VW announced the offer Monday. The car owners have been in limbo since mid-September, ...

Match Group plans to raise $466.2M from IPO

NEW YORK - The owner of Tinder, Match.com and OkCupid hopes to raise as much as $466.2 million in an initial public offering, which would put the value of the dating site company in the neighborhood of $3 billion.Match Group Inc. disclosed in a regulatory filing Monday that it will price its ...

DuPont names Breen as chairman and CEO

NEW YORK - DuPont's board of directors named Edward D. Breen as chairman and CEO after a month of holding those positions in an interim capacity.Breen was named as an interim leader last month after the sudden retirement of Ellen Kullman, 59, after she had fought off a bruising challenge from ...

Banks, at odds with personal finance sites, disrupt service

NEW YORK - The uneasy relationship between banks and companies that use their data to provide personal finance services has shown signs of fraying in recent months, causing some frustrating disruptions in service to people trying to track their spending.Who knew keeping tabs on your monthly ...

Kashkari picked as leader of Minneapolis Fed bank

WASHINGTON - Neel Kashkari, a prominent business executive and unsuccessful candidate for California governor, has been chosen as head of the Federal Reserve's regional bank in Minneapolis.Kashkari will succeed Narayana Kocherlakota, who will step down from the job of Minneapolis Fed president ...

3 charged in cyberattacks against finance companies

NEW YORK - Two men held in Israel and one U.S. citizen believed to be living in Moscow have been charged with stealing the contact information of more than 100 million customers of U.S. financial institutions to generate hundreds of millions of dollars in illegal profits, authorities said ...

Toys have best year in a decade

NEW YORK - Toys are staging a comeback. The U.S. toy industry is expected to have its strongest year in at least a decade after several years of kids choosing videogames and mobile apps over Barbie and stuffed bears. Annual toy sales are projected to rise 6.2 percent to $19.9 billion in 2015, ...

CBS continues dominance in scripted programming

NEW YORK - For all of the changes in how and when people consume television content, CBS' dominance in showing more scripted material that people watch each week remains consistent. Of the 30 most popular dramas and comedies shown on TV last week, 18 were CBS programs, the Nielsen company said. ...

World Bank: Climate change could result in 100 million poor

STOCKHOLM - Climate change could push more than 100 million people into extreme poverty by 2030 by disrupting agriculture and fueling the spread of malaria and other diseases, the World Bank said in a report Sunday.Released just weeks ahead of a U.N. climate summit in Paris, the report ...

Weyerhaeuser buys Plum Creek in $8.44B timber deal

Weyerhaeuser Co. is buying Plum Creek Timber Co. for $8.44 billion to form what is expected to be one of the world's biggest timberland and forest products companies.The company will keep the Weyerhaeuser name and have more than 13 million acres of timberland, the companies said Sunday. It will ...

China October imports fall

BEIJING - Lower commodity prices and sluggish demands dragged down China's October trade figures, although the volume of imported oil and other raw materials rose as the world's second-largest economy stocked up on a few bargains, customs data released Sunday showed.Imports fell by 18.8 percent ...

Electric car startup to build $1B factory

LOS ANGELES - The luxury electric car market may be small, but it's lucrative enough to get another jolt - this time from a mysterious startup that says it wants to re-imagine how people interact with their autos.The startup's name is Faraday Future, and it has been hunting for a place to build ...

Lufthansa cabin crew union expands strike

BERLIN - A union representing cabin crew at Lufthansa is expanding a strike campaign, announcing that it will stage all-day walkouts at Frankfurt, Munich and Duesseldorf airports on Monday.The UFO union called Sunday on all members to walk out from 4.30 a.m. to 11 p.m. in Frankfurt and ...

Google, Heart Association team up

ORLANDO, Fla. - A company whose name is synonymous with eyeballs on the Internet is turning its attention to hearts. Google Life Sciences, a research group recently spun off from its parent corporation, is teaming with the American Heart Association in a $50 million project to find new ways to ...

UAW reaches contract agreement with Ford as GM workers vote

DETROIT - The United Auto Workers union has reached a tentative contract agreement with Ford, a sign that union leaders expect General Motors workers to approve a similar four-year deal.The UAW said it reached an agreement with Ford on Friday morning. The contract covers 53,000 workers at 22 ...

US hiring surge raises likelihood of Fed rate hike

WASHINGTON - U.S. hiring swelled in October by the largest amount all year, and unemployment dropped another notch to 5 percent, increasing the likelihood that the Federal Reserve will raise interest rates next month for the first time in a decade.With Americans spending more on everything from ...

While markets tumbled in the summer, many savers held tight

NEW YORK - When fear was pumping through the stock market this summer, most retirement savers kept their cool.So say figures from Fidelity, which could see how individual investors in general behaved by looking at its 13.5 million 401(k) and 6 million IRA accounts as stocks tumbled in New York, ...

Buffett’s firm doubles its 3Q profit

OMAHA, Neb. - Berkshire Hathaway Inc.'s third-quarter profit more than doubled as the completion of the Kraft-Heinz merger boosted the paper value of its stake in the food giant.The conglomerate Warren Buffett leads said Friday it earned $9.4 billion, or $5,737 per Class A share. That's up from ...