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Money & Markets

Tesla Motors 1Q net loss widens on Model X woes

DETROIT - Electric car maker Tesla Motors Inc. racked up a big loss in the first quarter because of production problems with its new SUV, but investors cheered the news that it's on target to meet its delivery goals this year and bring its new, low-cost car to market by 2017.Tesla's loss rose ...

Whole Foods sales down as it preps for new ‘365’ chain

NEW YORK - Whole Foods' sales are being pinched by rivals as it prepares to launch an offshoot chain intended to court to new shoppers.The Austin, Texas company said sales fell 3 percent at established stores for the quarter ended April 10. That marks the third straight quarterly decline as it ...

Tribune Publishing rejects Gannett’s ‘opportunistic’ bid

Tribune Publishing Co. on Wednesday rejected Gannett's more than $388 million buyout offer, saying it's too little for the company that owns The Los Angeles Times, Chicago Tribune and other newspapers.USA Today owner Gannett wanted to buy Tribune Publishing so it could expand its USA Today ...

Hulu to offer live programming

NEW YORK - Hulu is expanding its Internet TV programming with a subscription service offering a mix of live cable and broadcast options that will include news and sports. The move will pit 8-year-old Hulu, a streaming service created by TV networks to counter the threat posed by Google's ...

Corporate earnings keep falling, but there are signs of life

NEW YORK - Are we there yet? It's another weak quarter on Wall Street, but there are some signs corporate America will come out of its recent funk.Earnings at big U.S. companies are on track to tumble 6.4 percent in the first quarter, the worst since the financial crisis. That would also be the ...

Another big verdict in talc case against Johnson & Johnson

ST. LOUIS - Twice in the past three months, juries have awarded tens millions of dollars to ovarian cancer victims who blamed Johnson & Johnson talcum powder for their illness - among the first verdicts in a gathering courtroom assault by law firms that are aggressively recruiting ...

Takata recall could more than double in size

DETROIT - U.S. auto safety regulators are in talks with Takata Corp. to add tens of millions of air bag inflators to what already is the biggest auto recall in American history, three people briefed on the matter said Tuesday.The government's National Highway Traffic Safety Administration wants ...

Lew: Currency design winning rave reviews

WASHINGTON - Treasury Secretary Jacob Lew said Tuesday that the reaction to his plan to put Harriet Tubman on the $20 bill and add civil rights and suffragette leaders to U.S. currency has been "overwhelmingly positive." "I have not been in a store or on the street since we have made the ...

Bitcoin’s creator unmasks himself — well, maybe

LOS ANGELES - The mystery creator of the digital currency bitcoin has finally stepped forward. Or has he?Australian inventor Craig Steven Wright announced Monday that he is "Satoshi Nakamoto," the elusive, pseudonymous bitcoin founder.In interviews with the Economist, BBC, GQ and a few bitcoin ...

Halliburton, Baker Hughes eye future after merger scuttled

DALLAS - Halliburton and Baker Hughes, whose planned merger is the latest big deal to be shot down by antitrust regulators, now must pick up the pieces and shore up their companies during a severe slump in oil and gas drilling.The two Houston companies are key components of the U.S. ...

Fiat Chrysler CEO sees future for Alfa Romeo

TURIN, Italy - Fiat Chrysler Automobiles CEO Sergio Marchionne said Monday that the automaker will try to reach full-employment in its Italian plants before the 2018 business plan goal and that the global relaunch of Alfa Romeo will play a key role.Marchionne, who is shuffling his global ...

Sports Authority plans to sell assets

NEW YORK - Sports Authority will sell some or all of its assets rather than trying to reorganize under bankruptcy protection. Initially, the sporting goods chain, which filed for Chapter 11 bankruptcy protection in March, said it would close or sell about a third of its 463 stores but stay open ...

Germany wants to extend border controls for another 6 months

BERLIN - Germany and some other EU countries are planning to ask the European Commission for an extension of border controls within the Schengen passport-free travel zone for another six months because they fear a new wave of migrants. Interior Minister Thomas de Maizere's spokesman says a ...

Remo Belli, pioneer of synthetic drumheads, dies

PASADENA, Calif. - Remo Belli, a musician who pioneered the synthetic drumhead in time to help a generation of rock-and-rollers shape their sound and then saw it become standard on kits across genres, has died in California.His death was announced in a statement by Remo Inc., the ...

Oprah to star in HBO’s ‘Henrietta Lacks’ movie

LOS ANGELES - Oprah Winfrey is expanding her participation in HBO's "The Immortal Life of Henrietta Lacks" to an on-screen role.The cable channel said Monday that Winfrey will star in the TV movie that she's been shepherding as an executive producer.The film is based on Rebecca Skloot's ...

Hulk Hogan seeks rematch with Gawker, sues over transcript

ST. PETERSBURG, Fla. - Former pro wrestler Hulk Hogan has sued Gawker again, saying the gossip website leaked sealed court documents with a transcript that quoted him making racist remarks. Hogan's new lawsuit Monday comes on the heels of winning a $140 million verdict against Gawker after it ...

Blanchett named ambassador for refugees

UNITED NATIONS - Two-time Oscar winner Cate Blanchett said Monday she's proud to have been named a global goodwill ambassador for the U.N. refugee agency. Filippo Grandi, the U.N. high commissioner for refugees, said the Australian actress "has already demonstrated great commitment to the ...

Puerto Rico won’t make $420 M debt payment

SAN JUAN, Puerto Rico - Gov. Alejandro Garcia Padilla announced that Puerto Rico's government will not make a $420 million bond payment due Monday, after a failure to negotiate a legal or political solution to the U.S. territory's public debt crisis.Garcia said Sunday that he had issued an ...

Tax receipts on farm machinery fall in agriculture slowdown

PIERRE, S.D. - South Dakota's sales tax collections on farm equipment have fallen from record highs in recent years as profits in the agriculture sector decline, a slide that has forced farmers to tighten budgets and caused sales slumps for machinery dealers.The U.S. Department of Agriculture ...

Exxon sees smallest profit in 16 years, Chevron posts loss

DALLAS - Motorists are saving billions on cheaper gasoline, but the long slump in oil prices is taking a heavy toll on companies that find and produce crude.Exxon Mobil posted its smallest quarterly profit in more than 16 years Friday, while Chevron lost $725 million, its worst showing since ...