Headline

  • French panel overturns 75 percent tax on ultrarich
    Diaalnews 2012-12-30 17:03:13 UTC
    PARIS (AP) — Embattled French President Francois Hollande suffered a fresh setback Saturday when France's highest court threw out a plan to tax the ultrawealthy at a 75 percent rate, saying it was unfair. In a stinging rebuke to one of Socialist Hollande's flagship campaign promises, the con...

  • German FinMin says worst of euro debt crisis over
    Wolfgang_schaeuble__germany's_finance_minister 2012-12-27 13:15:09 UTC
    BERLIN (AP) — Germany's finance minister says the worst of euro area's debt crisis appears to be over after three years of worries over Greece and other members of the group of 17 European Union countries that use the single currency. Finance Minister Wolfgang Schaeuble was quoted Thursday a...

  • Subdued mood on the last holiday shopping weekend
    Diaalnews 2012-12-24 14:48:27 UTC
    ATLANTA (AP) — Christmas shoppers thronged malls and pounced on discounts but apparently spent less this year, their spirits dampened by concerns about the economy and the aftermath of shootings and storms. Talk about more than just the usual job worries to cloud the mood: Confidence a...

  • More shoes showing up under Christmas tree
    Diaalnews 2012-12-24 05:19:27 UTC
    NEW YORK (AP) — Shoes are coming out of the closet and landing under the Christmas tree. They're a top seller this holiday season — a big feat considering most years they don't even make gift lists. Laranda Williams, 39, used to buy clothing, tools and electronics as presents for her family. T...

  • Christmas comes slowly to austerity-hit Europe
    Diaalnews 2012-12-22 08:35:13 UTC
    PARIS (AP) — Across Europe, holiday "shoppers" this season are doing more browsing than buying. Retailers remain hopeful for a last-minute burst of Christmas consumerism, and some governments are encouraging it by allowing stores to open on Sunday. But with economies across the region ...

  • Stocks sink after Republicans cancel budget vote
    Diaalnews 2012-12-22 08:18:07 UTC
    NEW YORK (AP) — Investors sent Washington a reminder Friday that Wall Street is a power player in talks to avoid the "fiscal cliff." Stocks fell sharply after House Republicans called off a vote on tax rates and left federal budget talks in disarray 10 days before sweeping tax increases and go...

  • Spain's Santander studying how to absorb Banesto
    Diaalnews 2012-12-17 09:22:47 UTC
    MADRID (AP) — Share trading in Banco Santander, the biggest bank by market value in the 17-country eurozone, has been suspended after it revealed that it is studying how it can absorb its affiliate Banesto. Banco Santander S.A. owns some 90 percent of Banesto. It acquired the entity, once on...

  • Conservationists team up with ranchers, loggers
    Diaalnews 2012-12-16 08:42:37 UTC
    FRIANT, Calif. (AP) — Two cowboys on horses pushed cattle across an expanse of golden hills overgrown with tall grasses and oak trees, up an unpaved road toward another pasture. From the Sierra Nevada foothills, the cattle will be sent for processing into beef, prized by consumers looking for ...

  • Fed sends clearer signal on keeping rates low
    Diaalnews 2012-12-12 21:51:29 UTC
    WASHINGTON (AP) — The Federal Reserve sent its clearest signal to date Wednesday that it will keep interest rates super-low to support the U.S. economy even after the job market has improved significantly. The Fed said it plans to keep its key short-term rate near zero until the unemployment r...

  • AIG sells 90 pct of plane leasing unit for $5.28B
    Ffa487d7b3a64022230f6a7067003799 2012-12-10 07:26:51 UTC
    NEW YORK (AP) — American International Group Inc. on Sunday said it will sell up to 90 percent of its airplane leasing unit, International Lease Finance Corp., to a Chinese investor group for approximately $5.28 billion. The investor group is led by Weng Xianding, chairman of New China Trust...

  • Fiscal cliff efforts ongoing, Boehner offers plan
    Untitled 2012-12-18 19:27:47 UTC
    WASHINGTON (AP) — President Barack Obama and House Speaker John Boehner pushed ahead on negotiating a broad deal to avert the "fiscal cliff," even as the GOP leader readied a backup plan Tuesday to pressure the White House with little time left to avoid a double hit on the economy. With ...

  • US job gains defy Sandy and fears of fiscal cliff
    28eca45769290522230f6a7067004e3f 2012-12-08 10:41:16 UTC
    WASHINGTON (AP) — It takes more than a superstorm to derail the U.S. job market. Employers added 146,000 jobs in November and the unemployment rate dipped to 7.7 percent, a four-year low, the government said Friday. Though modest, the job growth was encouraging because it defied dis...

  • Citigroup to cut 11,000 jobs, a familiar story
    Diaalnews 2012-12-05 19:19:47 UTC
    NEW YORK (AP) — Citigroup said Wednesday that it will cut 11,000 jobs, a bold early move by new CEO Michael Corbat. The cuts amount to about 4 percent of Citi's workforce. The bulk of them, about 6,200 jobs, will come from Citi's consumer banking unit, which handles everyday functions like bra...

  • US home prices rise in October by most in 6 years
    House 2012-12-04 20:52:31 UTC
    WASHINGTON (AP) — A measure of U.S. home prices rose 6.3 percent in October compared with a year ago, the largest yearly gain since July 2006. The jump adds to signs of a comeback in the once-battered housing market. Core Logic also said Tuesday that prices declined 0.2 percent in October from...

  • White House to GOP: It's your move
    Diaalnews 2012-12-03 11:49:34 UTC
    WASHINGTON (AP) — The White House says Republicans should come clean about how much they're willing to raise tax rates on the rich. Republicans counter that President Barack Obama's latest plan is a joke that avoids tough decisions on the nation's biggest entitlement programs, including Medicare....

  • Merkel acknowledges Germans' frustration on Greece
    610x350 2012-12-01 13:40:10 UTC
    BERLIN (AP) — Germany's chancellor says she understands the frustration felt by many Germans over the repeated bailout programs for Greece. But Angela Merkel also insists that helping debt-ridden Greece is in her country's self-interest because it helps stabilize the 17-nation eurozone on wh...

  • Calif oyster farm closure ends long battle
    Diaalnews 2012-11-30 09:47:01 UTC
    SAN FRANCISCO (AP) — Kevin Lunny's struggle to keep his family's oyster farm running in Point Reyes National Seashore appears to be over, closing out an era of oysterman plying the park's pristine waters and ushering in the nation's newest ocean wilderness. U.S. Interior Secretary Ken Salazar'...

  • Pressuring GOP, Obama takes his fiscal plan to Pa.
    Diaalnews 2012-11-30 09:17:11 UTC
    WASHINGTON (AP) — President Barack Obama is taking his case for avoiding a potentially unsettling "fiscal cliff" to the Philadelphia suburbs, employing campaign-style tactics in hopes of mobilizing public support. The trip comes amid signs of impatience in the negotiations between Republican lead...

  • World stocks up after deal over Greek debt reached
    Diaalnews 2012-11-27 09:46:18 UTC
    BANGKOK (AP) — World stock markets rose Tuesday after talks over Greece's financial crisis ended with an agreement on how to reduce its debt load, paving the way for the cash-strapped country to receive the next installment of a bailout loan. Finance ministers of the 17 countries that use the ...

  • White House: Tax hike threat could hurt retailers
    Diaalnews 2012-11-26 18:25:45 UTC
    WASHINGTON (AP) — Despite early signs of robust sales, White House economists warned Monday that the uncertainty of a potential hike in taxes next year for middle class taxpayers under the looming fiscal cliff could hurt consumer confidence during the crucial holiday shopping season. In a new ...

  • Why must we buy? Black Friday's powerful pull
    3415c0be0268bd21210f6a7067003b64 2012-11-25 07:33:08 UTC
    BEAVER FALLS, Pa. (AP) — Gravy was still warm. Dallas Cowboys were still in uniform. Thanks were still being given across the country as the pilgrimages to the stores began, heralding a new era of American consumerism. Lured by earlier-than-ever Black Friday sales, people left Grandma and Gran...

  • Economy makes for tougher Thanksgiving journeys
    Diaalnews 2012-11-22 07:15:41 UTC
    CHICAGO (AP) — Millions of Americans piled their families into cars, hopped on buses and waited out delays at airports Wednesday as they set off on Thanksgiving treks that many said required financial sacrifice, help from relatives to come up with airfare and hours searching online for deals. ...

  • Ex-hedge fund trader charged in $276M insider ploy
    Diaalnews 2012-11-21 06:32:35 UTC
    NEW YORK (AP) — A former hedge fund portfolio manager was arrested Tuesday in what prosecutors called perhaps the most lucrative insider trading scheme of all time — an arrangement to obtain secret, advance results of tests on an experimental Alzheimer's drug that netted more than $276 million fo...

  • Asia stocks fall after Greece aid delayed
    Bc85a92a0d2747191a0f6a7067000c7f 2012-11-21 06:24:01 UTC
    BANGKOK (AP) — Asian stock markets were mostly lower Wednesday, shedding morning gains after European Union officials failed to release a loan payment to debt-mired Greece and postposed further action until next week. European finance ministers adjourned a meeting in Brussels without granting ...

  • Airline SAS hangs in balance despite union deals
    Diaalnews 2012-11-19 10:33:31 UTC
    COPENHAGEN, Denmark (AP) — The future of Scandinavia's flagship airline SAS hangs in the balance even though it concluded deals Monday with the vast majority of its pilot and cabin crew unions. The troubled carrier must convince unions of the need to cut jobs, salaries and pensions as part of ...