Business News
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GM recalling Cadillac SUVs to tighten wheels
Wednesday, May 22, 4:03 pm
DETROIT (AP) - General Motors Co. is recalling more than 27,000 Cadillac SUVs worldwide because the wheels can fall off. The company says the recall affects the 2013 Cadillac SRX with 18-inch... Read more...
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Tesla uses stock, note sale to repay government
Wednesday, May 22, 3:36 pm
DETROIT (AP) - Tesla Motors, which makes a highly acclaimed $70,000 electric car, has paid off a startup loan from the U.S. government nine years early. The Palo Alto, Calif., company said... Read more...
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Median CEO pay rises to $9.7 million in 2012
Wednesday, May 22, 3:17 pm
(AP) - CEO pay has been going in one direction for the past three years: up. The head of a typical large public company made $9.7 million in 2012, a 6.5 percent increase from a year earlier... Read more...
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Stocks fall on news Fed weighed cutting stimulus
Wednesday, May 22, 3:06 pm
NEW YORK (AP) - The Federal Reserve took financial markets for a ride Wednesday, pushing stock prices up in the morning then sending them down in the afternoon. Prices surged on congressional... Read more...
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Target, Zale, Saks are big movers
Wednesday, May 22, 2:57 pm
NEW YORK (AP) - Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Target Corp., down $2.86 at $68.40 The... Read more...
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How the Dow Jones industrial average fared
Wednesday, May 22, 2:49 pm
(AP) - Stock indexes fell on Wall Street on fear the Federal Reserve could pull back from its stimulus programs soon. After surging early in the day, stocks fell as investors digested minutes... Read more...
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FDA panel backs experimental Merck insomnia drug
Wednesday, May 22, 2:46 pm
WASHINGTON (AP) - A federal panel of medical experts said that an experimental insomnia drug from Merck & Co. Inc. appears safe and effective, despite evidence from company trials that the... Read more...
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Penney secures $2.25B loan as it seeks turnaround
Wednesday, May 22, 2:35 pm
NEW YORK (AP) - J.C. Penney Co. said Wednesday it has secured a $2.25 billion loan, $500 million more than it had expected, as it tries to stop a collapse in its sales. The expanded financing... Read more...
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Summary Box: Stocks close lower on Fed fears
Wednesday, May 22, 2:32 pm
(AP) - MIXED MESSAGES: Stocks surged in the early going after Fed chairman Ben Bernanke told Congress the central bank was unlikely to pull back from its stimulus programs soon. Then minutes from... Read more...
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US Treasury bond market at a glance
Wednesday, May 22, 2:23 pm
Key barometers in the Treasury market late Wednesday, compared with late Tuesday. Price changes in the 10-year note and 30-year bond are per $100 invested: ... Read more...
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Fisher-Price moving, eliminating about 100 NY jobs
Wednesday, May 22, 2:22 pm
EAST AURORA, N.Y. (AP) - Toy maker Fisher-Price says it's moving or eliminating roughly 100 jobs from its New York operations as part of restructuring by parent company Mattel Inc. The majority... Read more...
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Target's 1Q profit drops 29 pct on weak sales
Wednesday, May 22, 2:17 pm
NEW YORK (AP) - Target Corp. reported a 29 percent drop in first-quarter profit as unusually cool spring weather and financial pressures chilled customers' appetite for spending. The company,... Read more...
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Lowe's 1Q profit rises, but results miss Street
Wednesday, May 22, 2:11 pm
NEW YORK (AP) - Lowe's said Wednesday that its first-quarter net income rose nearly 3 percent, but results fell short of expectations as rainy weather hurt spring gardening sales. The No.... Read more...
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A divided Fed wrestles with when to slow bond buys
Wednesday, May 22, 1:50 pm
WASHINGTON (AP) - The Federal Reserve is torn over when to slow its aggressive efforts to stimulate the economy. Its uncertainty burst into view Wednesday, when Chairman Ben Bernanke testified... Read more...
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Figures on government spending and debt
Wednesday, May 22, 1:18 pm
Figures on government spending and debt (last six digits are eliminated). The government's fiscal year runs Oct. 1 through Sept. 30. Total public... Read more...
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