Economy

Hess to split roles of CEO and chairman
Hess Corp. will split the positions of CEO and chairman as it fights off a campaign by a major shareholder for a change in leadership at the New York ...
ArcelorMittal affirms 2013 targets despite Q1 loss
ArcelorMittal SA, the world's largest steelmaker, slumped to a first-quarter loss, even as the company's chief executive said restructuring efforts ...
Unicredit 1Q earns drop by half
Italy's largest bank, Unicredit, reports net profit dropped by half in the first quarter of 2013 due to lower interest and trading income. The bank ...
Moody's downgrades U.K.'s Co-operative bank
The Co-operative Bank on Friday sought to reassure its customers that it didn't need a government bailout after Moody's Investors Service downgraded ...
US officials probe Corvette headlamp problem
U.S. auto safety regulators are investigating complaints that the low-beam headlights can go dark without warning on some Chevrolet Corvettes.
IMF says monetary easing could drive asset bubble
International Monetary Fund officials say they are watching carefully for signs that massive flows of cash unleashed in world markets by unprecedented ...
Panasonic reports big loss but forecasts profit
Japanese consumer electronics giant Panasonic Corp. on Friday reported a near-record net loss of 754 billion yen ($7.5 billion) for the fiscal year ...
Shattered EU dreams at heart of Bulgarian election
The big theme of Bulgaria's parliamentary elections this weekend: mounting frustration over the widening gap between the giddy hopes linked to EU ...
NASA: Space station power system radiator leaking
The International Space Station has a radiator leak in its power system. The outpost's commander calls the situation serious, but not life-threatening
Cruise company: Couple's fall likely no accident
The cruise ship railing over which an Australian couple fell into the ocean was higher than industry regulations required and was designed to prevent ...
German exports 0.5 percent higher in March
German exports rose 0.5 percent in March compared with the previous month, a figure that follows promising data on industrial orders and production ...
2 cruise passengers fall overboard off Australia
No trace of an Australian couple believed to have fallen off a cruise ship has been found despite an intense, day-long search, officials said Friday.
Japan Nikkei jumps as dollar passes 100-yen mark
Japan's benchmark stock index surged Friday after the dollar hit a four-year high against the yen. Gains were modest elsewhere as traders digested a ...
Hedge fund manager Falcone to settle fraud case
Billionaire hedge fund manager Philip Falcone and his firm have agreed to pay $18 million to settle civil fraud charges that he used fund money to pay ...
Calif. sues JPMorgan Chase over debt collection
California's attorney general sued one of the nation's largest banks Thursday, alleging that JPMorgan Chase & Co. used illegal tactics in its efforts ...
Retailers report modest gains for April
Americans spent briskly during the early spring months in the latest sign that they're encouraged by the economic recovery. Falling gas prices, a ...
AT&T launches prepaid cellphone business
AT&T is launching a prepaid cellphone service — Aio Wireless. The new subsidiary will offer nationwide wireless service to value-conscious customers ...
McDonald's cuts Angus burgers from menu
McDonald's is cutting the Angus burger from its menu. The Oak Brook, Ill.-based company had said earlier this year that it was evaluating whether to ...
Record profit signals healthier Fannie Mae
Fannie Mae said something Thursday that would have been unthinkable a few years ago: It earned a record $58.7 billion profit in the January-March ...
Stocks slip below record levels; Dow holds 15,000
Stocks are edging lower on Wall Street as a powerful market advance slows down. The Dow Jones industrial average fell 22 points to 15,082 Thursday, ...
GOP boycotts health care advisory board
House and Senate Republican leaders told President Barack Obama Thursday that they will refuse to nominate candidates to serve on an advisory board ...
IMF: Egypt's financial situation deteriorating
The International Monetary Fund said Thursday that Egypt's financial situation is deteriorating and the lending agency won't move ahead with a $4.
Iran says it has built new drone
Iran's defense minister says Iran has built a new, radar-evading drone that can do surveillance and fire on enemy targets. The semi-official Fars news ...
Tesla Model S gets Consumer Reports' top score
The Tesla Motors Inc. Model S electric car has tied an older Lexus for the highest score ever recorded in Consumer Reports magazine's automotive ...
Dish Network 1Q results miss expectations
The satellite TV broadcaster Dish Network fell short of Wall Street expectations for the first quarter and shares slid to a three-week low Thursday.