Money & Markets

Jury heads into holiday without verdict

CHARLESTON, W.Va. - Jurors are heading into a holiday break without a verdict in the trial of ex-Massey Energy CEO Don Blankenship. The jury deliberated for a fifth full day in U.S. District Court in Charleston, West Virginia. They won't return until Monday because of Thanksgiving. Blankenship ...

$160B deal to combine Pfizer and Allergan raises outcry

A $160 billion deal announced Monday to merge Pfizer and Allergan and create the world's biggest drug company renewed the outcry in Washington over "inversions," in which U.S. corporations combine with companies overseas to lower their tax bill.The combination - the second-largest merger in ...

Nestle confirms labor abuse among its Thai seafood suppliers

WASHINGTON - Impoverished migrant workers in Thailand are sold or lured by false promises and forced to catch and process fish that ends up in global food giant Nestle SA's supply chains.The unusual disclosure comes from Geneva-based Nestle SA itself, which in an act of self-policing planned to ...

Paris tourism slumps in wake of attacks

PARIS - The attacks in Paris are having a major impact on tourism, initial figures show, pushing the French prime minister to meet industry officials to come up with a plan to limit the damage and keep visitors coming to the City of Light. Ten days after the carnage, the deadliest since WWII, ...

AIG CEO unwilling to break up company

NEW YORK - Activist investor Carl Icahn is putting more pressure on American International Group Inc. to break itself into three separate companies. Icahn said Monday on his website that after speaking with AIG CEO Peter Hancock several times, Hancock remains unwilling to split the insurer up. ...

Yellen defends Fed’s low-rate policies

WASHINGTON - Federal Reserve Chair Janet Yellen says while many savers have been frustrated by years of low interest rates, they were needed to boost the economy after the Great Recession.In a letter to consumer advocate Ralph Nader, Yellen says the low rates helped create millions of jobs by ...

UnitedHealth cuts outlook, casts doubt on overhaul exchanges

The nation's largest health insurer is questioning its future in public insurance exchanges, the latest signal of major concerns about the online marketplaces that have helped the Affordable Care Act extend coverage to millions of people.UnitedHealth Group said Thursday that it will scale back ...

VW has only a few costly options to fix polluting diesels

DETROIT - When Volkswagen submits a plan to fix emissions-cheating diesel engines on Friday, it will have only two options for most of the cars.It can install a bigger exhaust system to trap harmful nitrogen oxide, or it can retrofit a chemical treatment process that cuts pollution.The bigger ...

APEC leaders: Urgent need to cooperate against terrorism

MANILA, Philippines - Asia-Pacific leaders called Thursday for increased international cooperation in the fight against terrorism as they held annual talks overshadowed by the Paris attacks.A copy of the declaration that the leaders will issue following their talks, seen by The Associated ...

Audi says US sales undiminished by diesel emissions scandal

LOS ANGELES - The emissions-rigging scandal that has engulfed German auto giant Volkswagen will not diminish sales of one of its luxury brands in the United States, the head of Audi of America predicted Wednesday.In the two months since news broke that hundreds of thousands of diesel cars - ...

Square discounts stock to $9 a share

SAN FRANCISCO - Mobile payments processor Square had to sell its stock at a deep discount to complete its initial public offering, a concession signaling that investors are becoming wary of once-hot startups that haven't proven they can make money.The IPO priced at $9 per share late Wednesday, ...

Oil prices trigger Japan trade surplus

TOKYO - Japan racked up a trade surplus last month as exports of cars, computers and other goods grew, while imports dipped on falling oil prices. Government data released Thursday showed that the trade surplus totaled $903 million in October. The price of oil is a key factor in Japan's trade ...

Fed pondering December rate hike

WASHINGTON - Federal Reserve officials believed last month that the economic conditions needed to trigger the first interest rate hike in nearly a decade could "well be met" by their next meeting in December. Minutes of the October discussions released Wednesday revealed Fed officials' view ...

Obama looks for late momentum on climate deal

MANILA, Philippines - With a high-stakes deadline two weeks away, President Barack Obama hopes to build momentum on Wednesday for a broad and potentially legacy-burnishing global climate change agreement.At a meeting of chief executives in this Southeast Asian capital, Obama was expected to ...

More Thanksgiving travelers; don’t get stuck at the airport

NEW YORK - A stronger economy and lower gas prices mean Thanksgiving travelers can expect more congested highways this year.During the long holiday weekend, 46.9 million Americans are expected to go 50 miles or more from home, the highest number since 2007, according to travel agency and car ...

Senate panel questions FDA nominee

WASHINGTON - President Barack Obama's nominee to lead the Food and Drug Administration defended his record on Tuesday as senators pressed him about rising drug prices, slow approval times for new drugs and his ties to the pharmaceutical industry.Dr. Robert Califf, 64, is currently the No. 2 ...

EPA intends tougher downwind air rule

WASHINGTON - The Environmental Protection Agency proposed tougher new limits on Tuesday on smokestack emissions from nearly two dozen states that burden downwind areas with air pollution from power plants they can't control. At the same time, the EPA moved to remove two states - South Carolina ...

Wal-Mart tops 3Q profit forecasts

NEW YORK - Walmart reported improved customer traffic and an uptick in a key sales figure for the third quarter, even as a stronger dollar pressured its performance overseas.The world's largest retailer also issued a forecast for the holiday shopping season that largely topped Wall Street ...

Canadian Pacific bids for Norfolk Southern

Canadian Pacific says it wants to buy Norfolk Southern to create a much larger transcontinental railroad.The company did not disclose the price Tuesday but said the offer includes a "sizable premium in cash and stock" to Norfolk shareholders. A Norfolk Southern representative could not be ...

Marriott becomes world’s largest hotelier, buying Starwood

NEW YORK - Hotel behemoth Marriott International is becoming even larger, taking over rival chain Starwood in a $12.2 billion deal that will catapult it to become the world's largest hotelier by a wide margin.The stock-and-cash deal, if completed, will add 50 percent more rooms to Marriott's ...