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Money & Markets

Many see cause for optimism despite slower US job growth

WASHINGTON - Consider looking past January's so-so job growth.At first glance, Friday's government report on U.S. hiring was a downer - 151,000 added jobs, well below the pace of the previous few months.Yet once you take a fuller view, a brighter picture of the job market emerges: A sub-5 ...

Apple now accepting your banged-up iPhone

NEW YORK - Apple for the first time is accepting banged up iPhones as a trade-in from those wanting to upgrade. Until now, Apple offered credit to iPhone owners only if the device had an intact screen and working buttons. Apple hopes that with more leeway, applicable only to iPhone 5 and later ...

Congress unites in scorn for Shkreli

WASHINGTON - A smirking Martin Shkreli briefly united Democrats and Republicans on Capitol Hill this week, as lawmakers took turns blasting the price-hiking former CEO who has become the new poster child for corporate greed.But the gridlocked state of Congress virtually assures federal efforts ...

LinkedIn shares plunge almost 44 percent

SAN FRANCISCO - Investors gave LinkedIn a poor job review Friday in the form of a dramatic sell-off that wiped out nearly $11 billion in the professional networking site's market value. A surprise forecast for slower growth this year sent LinkedIn shares into a stomach-turning plunge of almost ...

Drug exec takes the Fifth on Capitol Hill, angers lawmakers

WASHINGTON - Infuriating members of Congress, a smirking Martin Shkreli took the Fifth at a Capitol Hill hearing Thursday when asked about his jacking up of drug prices, then promptly went on Twitter and insulted his questioners as "imbeciles."The brash, 32-year-old entrepreneur who has been ...

Morocco unveils massive solar plant

OUARZAZATE, Morocco - Morocco's King Mohammed VI unveiled one of the world's biggest solar plants Thursday, taking advantage of the Sahara sunshine and a growing global push for renewable energy.The $3.9-billion project in the southern town of Ouarzazate, also known as Noor I, is the first ...

Automakers to recall 5M vehicles for air bag issue

DETROIT - Another problem has developed with automotive air bags, and this one will bring recalls of up to 5 million vehicles worldwide.Continental Automotive Systems says in documents filed with the U.S. government that moisture can get inside its air bag control computers, causing the power ...

IRS resolves computer problems after outage

WASHINGTON - The IRS says it has resolved a computer system outage and is again accepting electronically filed tax returns.In a statement on Thursday, the agency says it had resumed processing individual and business tax returns at about 5 p.m. Eastern, a day after a "hardware failure" forced ...

Lawmakers propose bill to privatize air traffic control

WASHINGTON - Responsibility for the nation's air traffic control operations would shift from the government to a private, nonprofit corporation under legislation introduced Wednesday as part of an overhaul of how Washington oversees the aviation system.The measure extends for six years the ...

Sumner Redstone resigns as chair of CBS

LOS ANGELES - Sumner Redstone, the ailing 92-year-old media mogul who controls TV and movie powerhouses CBS and Viacom, has stepped down as executive chairman of CBS amid a courtroom battle over his health and mental capacity. CBS Chief Executive Leslie Moonves will replace him as ...

US, 11 other countries sign free-trade deal

WELLINGTON, New Zealand - Trade ministers from 12 Pacific Rim countries including the United States have ceremonially signed a free-trade deal.The representatives gathered Thursday in Auckland, New Zealand, to sign the Trans-Pacific Partnership. The agreement must still be ratified by ...

Congress: Drugmakers planned price hikes to boost profits

Two drugmakers have made a practice of buying and then dramatically hiking the prices of low-cost drugs given to patients with life-threatening conditions including heart disease, AIDS and cancer, according to excerpts from thousands of documents released by federal lawmakers.A congressional ...

January US auto sales fall slightly

DETROIT - U.S. auto sales fell slightly in January because of the East Coast snowstorm, but analysts say demand remains strong and buyers will likely head back into dealerships this month. Sales fell less than 1 percent to 1.1 million, according to Autodata Corp. The mid-January storm ...

Super Bowl ads this year might be a snooze

NEW YORK - No GoDaddy. Not a bikini in sight. Service messages instead of crotch or fart jokes. As the Super Bowl turns 50 and faces middle age, will this be the year that advertisers stick to - gasp - good taste?The Super Bowl remains advertising's biggest stage, especially as the broadcast TV ...

Oil industry cutting jobs to offset lower prices

Oil companies are cutting investment, slashing jobs and selling off pipelines and other assets as crude prices plunge."It's going to be a very turbulent year for our industry," says BP CEO Bob Dudley. The latest warnings came from Exxon Mobil, which reported Tuesday that fourth-quarter earnings ...

Google parent tops Apple as world’s most valuable company

SAN FRANCISCO - Alphabet, Google's new parent company, topped Apple as the world's most valuable business in after-hours trading Monday after reporting surging earnings.Alphabet Inc. earned $4.9 billion in net income on revenue of $21.3 billion in the fourth quarter. If not for employee stock ...

Uber drivers in NYC protest company’s cut

NEW YORK - Uber drivers in New York City called Monday for a strike to protest the company's decision to cut fares by 15 percent, as drivers rallied at the ride-sharing app's New York headquarters.Several hundred attended the protest, but it's not clear how many would heed the call for a ...

CDC says Chipotle-linked outbreak of E. coli appears over

WASHINGTON - Looks like it's safe to bite into that burrito. The federal agency that monitors public health says the outbreak of E. coli illness linked to Chipotle restaurants that sickened 60 people appears to be over. The Centers for Disease Control and Prevention said Monday the most recent ...

Airlines restore tiny perks to pacify fliers

NEW YORK - After 15 years of near austerity, U.S. airlines are restoring some small perks for passengers crammed into coach.Don't expect ample legroom or free checked bags. But fliers will find improved snacks, a larger selection of free movies and - on a few select routes - the return of free ...

Super PACs lost steam in second half of 2015

WASHINGTON - Sunday is the first time in six months that the public has learned the names of the biggest donors in presidential politics. These contributors give to super political action committees that can accept unlimited amounts of money and are aligned with specific candidates.The 15 major ...