Money & Markets

Japan OKs record defense budget

TOKYO - Japan's Cabinet approved a record-high military spending plan Thursday, endorsing proposals to purchase pricey U.S. surveillance drones and F-35 fighter jets as Tokyo steps up cooperation with Washington amid China's increasingly assertive activity in regional seas.The 5.1 trillion yen ...

Russia’s Putin hosts Indian PM for talks

MOSCOW - Russian President Vladimir Putin is meeting Indian Prime Minister Narendra Modi for talks expected to focus on defense, nuclear and space cooperation.Modi began his visit on Wednesday when he had a private dinner with Putin.Speaking at the start of the talks in the Kremlin on Thursday, ...

Airlines prep for holiday crush: More flights, bigger planes

DALLAS - Airlines are shifting the timing of thousands of flights, even adding dozens of redeyes, as they try to avoid delays while hauling millions of passengers from now through the Christmas weekend.Success or failure could all depend on the weather and Mother Nature isn't making it easy on ...

8th US death due to Takata air bag explosion identified

WASHINGTON - A minor who was driving a car that crashed near Pittsburgh has been tentatively identified by the government as the eighth death in the U.S. due to an explosive air bag inflator made by auto parts maker Takata, federal transportation officials said Wednesday.The National Highway ...

Budweiser maker buying Breckenridge Brewery

DENVER - One of Colorado's largest and oldest craft breweries is promising beer lovers that nothing will change even though it's being bought by beer giant Anheuser-Busch, a brand many of them love to hate.Under a deal announced Tuesday, the maker of Budweiser said it was acquiring Breckenridge ...

Ky. settles with OxyContin maker for $24M

FRANKFORT, Ky. - The maker of OxyContin will pay Kentucky $24 million over the next eight years as part of the settlement of a long-running lawsuit that accused the company of misleading the public about the addictiveness of the powerful prescription drug. The state first filed the lawsuit ...

Expect less and buy antacid: 2016 investment forecasts

NEW YORK - Investing is becoming more of a grind. Expect it to stay that way.Analysts, mutual-fund managers and other forecasters are telling investors to expect lower returns from stocks and bonds in 2016 than in past years.They're also predicting more severe swings in prices. Remember that 10 ...

CDC reports new E. coli cases from November

NEW YORK - The Centers for Disease Control and Prevention said Monday it is investigating a more recent batch of E. coli cases linked to Chipotle, and that it does not know yet if they are linked to a larger outbreak that began in October.So far, the agency said five people have been reported ...

US existing home sales tank in November

WASHINGTON - Home sales plunged sharply in November, as buyers faced rising prices and new regulations that might have delayed some closings.The National Association of Realtors said Tuesday that sales of existing homes collapsed 10.5 percent to a seasonally adjusted annual rate of 4.76 ...

‘Fireball’ lawsuit cools off

LOUISVILLE, Ky. - Heated competition between producers of cinnamon whiskeys has cooled off in the courtroom, with Sazerac dropping its lawsuit against Jack Daniel's. Sazerac - whose brands include the long-established Fireball Cinnamon Whisky - had accused its rival of trademark infringement by ...

CDC reports more recent outbreak of E. coli cases

NEW YORK - The Centers for Disease Control and Prevention says it is investigating a more recent batch of E. coli cases linked to Chipotle, and that it does not know yet if they are linked to a larger outbreak that began in October.So far, the agency said Monday five people have been reported ...

Southwest to pay $2.8 million to settle lawsuit

DALLAS - Southwest Airlines will pay $2.8 million to settle a lawsuit by the federal government over maintenance on its planes. The Justice Department said Monday that Southwest also agreed to pay up to $5.5 million in additional penalties if it fails to improve oversight of contractors it ...

Average gas price soon under $2

DALLAS - Gasoline is close to breaking below a key psychological barrier as drivers enjoy some of the cheapest pump prices since the recession.The nationwide average price of a gallon of regular Saturday was $2.02, down 58 cents from this time last year, according to auto club AAA. Experts say ...

US regulators slap BMW with $40M fine for safety violations

DETROIT - U.S. safety regulators have slapped German automaker BMW AG with a $40 million penalty for moving too slowly to fix Mini brand cars that failed federal crash tests.The National Highway Traffic Safety Administration also said Monday BMW failed to send the agency accurate recall ...

Wisconsin customers see lower heating bills, due to warmth

MILWAUKEE - Balmy weather this winter could mean a big break in heating costs for Wisconsin utility customers.The mild start to the heating season is combining with the lowest natural gas prices in 16 years to give consumers relief, the Milwaukee Journal Sentinel reported.Two years ago, bitter ...

US Steel, union reach tentative contract for 18,000 workers

PITTSBURGH - U.S. Steel Corp. and the United Steelworkers union have announced tentative agreement on a new contract covering about 18,000 workers at more than a dozen facilities across the country.Neither side released details about the pact pending ratification by members of more than two ...

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 ...