Money & Markets

Glendale-area tribal casino opens without gambling license

PHOENIX - A southern Arizona tribe opened the doors of a long-planned casino on Sunday, but the sprawling Phoenix-area property will be missing a key component - casino games.The Tohono O'odham Nation unveiled its new Glendale-area casino despite lacking the necessary certificates from the ...

KaloBios fires embattled pharmaceutical executive Shkreli

TRENTON, N.J. - In barely 24 hours, Martin Shkreli went from an egotistical pharmaceutical boy wonder running two small drug developers and live-streaming his daily activities to unemployed and facing securities fraud charges that could land him in prison for years.Shkreli, already reviled by ...

Shkreli resigns as Turing CEO after securities fraud arrest

TRENTON, N.J. - The pharmaceutical executive reviled for price-gouging resigned Friday as head of the drugmaker Turing Pharmaceuticals, a day after being arrested on charges of securities fraud related to a company he previously ran.Martin Shkreli, whose arrest delighted countless people ...

Women are out-earning men in corporate finance

Women may be badly outnumbered in the top ranks of corporate America, but at least they aren't underpaid.Compensation for female chief financial officers at S&P 500 companies last year outpaced that of their male counterparts, according to an analysis by executive compensation firm ...

FDA proposes ban on indoor tanning for minors

WASHINGTON - Anyone under the age of 18 would be barred from using indoor tanning equipment, under a federal proposal to help reduce skin cancer linked to the devices.The Food and Drug Administration also wants to require tanning bed users to sign consent forms acknowledging the risks of the ...

Calif.unemployment rate dips to 5.7 percent

LOS ANGELES - California's jobless rate dropped slightly in November to 5.7 percent, down just a tenth of a point from the previous month, the state Employment Development Department reported Friday. The decline was fueled by a net increase of 5,500 nonfarm payroll jobs, according to figures ...

House OKs tax-cut package, first leg of year-end budget deal

WASHINGTON - Republicans overwhelmed divided Democrats to whisk tax breaks for businesses, families and special interests through the House on Thursday as Congress sped toward final votes on a year-crowning budget accord that will also bankroll the government in 2016.The tax measure, approved ...

Exec who jacked up price of a lifesaving drug is arrested

NEW YORK - A boyish-looking entrepreneur who became the new face of corporate greed when he jacked up the price of a lifesaving drug fiftyfold was led away in handcuffs by the FBI on unrelated fraud charges Thursday in a scene that left more than a few Americans positively gleeful.Martin ...

Firms; December to be best US auto sales month

DETROIT - Two auto sales forecasting companies say Americans will buy more cars and trucks in December than any other month in more than a decade. LMC Automotive and J.D. Power are predicting that U.S. sales will hit 1.71 million this month, the highest number since sales reached 1.8 million in ...

VW hires Feinberg to handle cheating claims

DETROIT - Volkswagen has hired Kenneth Feinberg to create a program to compensate owners of diesel-powered cars caught up in an emissions-cheating scandal. Feinberg is known for his work in compensating victims of the General Motors ignition switch scandal, the BP Gulf oil spill and other ...

Despite lack of eggs, Just Mayo keeping its name

NEW YORK - Just Mayo says it will get to keep its name, a decision that caps a rollercoaster year for the vegan spread that has rattled the egg industry.After months of discussions, Just Mayo's maker Hampton Creek says it worked out an agreement with the Food and Drug Administration that lets ...

Fed raises its key interest rate from record low near zero

WASHINGTON - The Federal Reserve is raising interest rates from record lows set at the depths of the 2008 financial crisis, a shift that heralds modestly higher rates on some loans.The Fed coupled its first rate hike in nine years with a signal that further increases will likely be made slowly ...

Rumors fly as mystery shrouds buyers of Las Vegas newspaper

LAS VEGAS - The ownership mystery surrounding the sale of the Las Vegas Review-Journal has captured the attention of the media industry as the newspaper's staff and some politicians demand to know the identity of the new boss.The timing of the deal and the purchase price have Twitter buzzing ...

Clinton says she wants to go beyond ‘Buffett rule’

OMAHA, Neb. - With billionaire investor Warren Buffett looking on, Democratic presidential candidate Hillary Clinton said Wednesday she wants to raise taxes on the wealthy and expand upon the so-called "Buffett rule" pushed by the Obama administration to raise tax rates on the richest ...

FedEx tops Street 2Q forecasts

DALLAS - FedEx shares rose Wednesday as the shipping company said that quarterly profit rose 4 percent, helped by growth in online shopping and lower costs in its core express-delivery business. The latest results cover the three months ending Nov. 30, capturing a sliver of the key ...

US consumer prices unchanged, core inflation up

WASHINGTON - U.S. consumer prices were unchanged in November as declines in energy and food held down overall costs. But core inflation was up 2 percent over the 12 months ending in November. That was the fastest pace in more than a year and the kind of increase Fed officials want to see to ...

Gorilla Glass, used for cell phones, is coming to cars

DETROIT - The thin, lightweight glass on your smartphone could soon be found on your car.Corning Inc.'s Gorilla Glass is used for the screens on billions of mobile phones. Now, car makers are using an automotive version to help shave weight off their vehicles and improve fuel economy.BMW AG was ...

Stern announces 5-year deal with Sirius XM

NEW YORK - Much has changed for Howard Stern and SiriusXM since their first deal a decade ago - except for their desire to stay in business together.The company announced Tuesday its third five-year deal to keep Stern's radio show at SiriusXM, together with a longer-term video arrangement that ...

Dolly Parton movie a hit for NBC

NEW YORK - Family-friendly programming is doing well this holiday season for NBC, which has a rare three-week winning streak in the television ratings. The Dolly Parton movie, "Coat of Many Colors," reached more than 13 million viewers. That landed the program in the Nielsen company's weekly ...

Samsung asks Supreme Court to throw out $399M judgment

WASHINGTON - In its patent dispute with Apple, Samsung is asking the Supreme Court to take a digital-age look at an issue it last confronted in the horse-and-buggy era.South Korea-based Samsung on Monday appealed a $399 million judgment for illegally copying patented aspects of the look of ...