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  • NEW YORK— New York City has agreed to pay $6.25 million to a man who spent nearly 25 years in prison before being exonerated in a killing that happened while he was more than 1,000 miles away vacationing at Disney World, the city comptroller said Tuesday. "We cannot give back the time that he served, but the city of New York can offer Jonathan Fleming this compensation...

  • MIAMI, June 23- Richard Branson's Virgin Cruises will take delivery of three ships capable of carrying nearly 3,000 passengers each starting in early 2020, the British entrepreneur told reporters during a news conference on Tuesday. Virgin Group announced the Bain Capital- backed project last December. "We go against the grain," said Virgin Cruises Chief...

  • June 23- U.S. auto safety regulators said on Tuesday their estimate for the millions of vehicles affected by the Takata Corp air bag recall will likely be revised because cars with two front air bags were double-counted. The National Highway Traffic Safety Administration has come under fire for failing early on to catch the defective Takata air bag inflators,...

  • *Shares hit record high of $73.40. June 23- Darden Restaurants Inc said it plans to separate some of its restaurants into a publicly traded real estate investment trust as part of changes engineered by activist investor Starboard Value LP. Darden said on Tuesday said it would transfer about 430 restaurants, mostly Olive Garden properties, to the REIT this year...

  • Replacement air bags from Takata Corp. are safe— as long as they don't have a "batwing," an executive from the company told a Senate hearing. Senators asked Takata Executive Vice President Kevin Kennedy whether consumers can be certain that the Japanese supplier isn't replacing recalled air bags with new ones that have the same defect. Takata still hasn't...

  • ROCHESTER, N.Y.— Nevada- based Allegiant Air says it will start non-stop service from Rochester to Fort Lauderdale, Florida, this fall. The discount air carrier owned by Allegiant Travel Co. and Monroe County officials announced the new service Tuesday at Rochester International Airport. Allegiant also offers service to Florida from upstate New York airports...

  • WASHINGTON— Senators threatened Tuesday to withhold additional funding from the nation's top auto safety agency until it improves its ability to spot defective parts like Takata Corp.' s exploding air bags. The Senate Commerce Committee met to grill Takata on its ongoing recall of 33.8 million air bags, the largest recall in U.S. history.

  • WASHINGTON— Purchases of new U.S. homes surged in the Northeast and West in May, as steady job growth over the past year has lifted the real estate sector. The Commerce Department said Tuesday that new-home sales rose 2.2 percent last month to a seasonally adjusted annual rate of 546,000, the strongest pace since February 2008. "The robust demand in the housing...

  • Tired of high state taxes? Maybe it's time to move Tuesday, 23 Jun 2015 | 10:00 AM ET
    Moving van

    A CNBC analysis shows that many states with the highest per capita in taxes are also seeing the most net migration to lower-tax states.

  • Carnival tops Street 2Q forecasts Tuesday, 23 Jun 2015 | 9:25 AM ET

    MIAMI _ Carnival Corp. on Tuesday reported fiscal second-quarter earnings of $222 million. Eight analysts surveyed by Zacks expected $3.54 billion. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.69.

  • June 23- Darden Restaurants Inc said it intends to separate some of its restaurants into a publicly traded real estate investment trust as part of a plan to pay down about $1 billion of debt. The owner of the Olive Garden restaurant chain said it would transfer about 430 of its more than 1,500 restaurants to the REIT this year and lease back most of the properties.

  • Darden Restaurants to split off properties into REIT Tuesday, 23 Jun 2015 | 7:38 AM ET

    ORLANDO, Fla.— Darden Restaurants Inc. is planning to create a real estate investment trust that will function as its own publicly traded company. The owner of Olive Garden and other restaurants said Tuesday that it will transfer about 430 owned restaurant properties to the REIT, with basically all of them being leased back to Darden. Sears Holdings Corp. is...

  • Olive Garden sales up as gas prices and discounts fall Tuesday, 23 Jun 2015 | 7:15 AM ET

    ORLANDO, Fla.— Olive Garden's quarterly sales rose 3.4 percent at established locations as customers spent more at the struggling Italian chain. Parent company Darden Restaurants is moving away from some of the heavy discounting Olive Garden had relied on in the past to boost traffic, such as promotional entrees for $9.99 and $10.99. Darden Restaurants Inc.,...

  • MIAMI— Dressed in red shorts and a captain's hat, Richard Branson on Tuesday announced that Virgin Cruises will sail its first ship out of PortMiami in 2020.. Tom McAlpin, president and CEO of Virgin Cruises, said the company had signed a letter of intent with the Italian shipbuilding company Fincantieri. When asked if Virgin Cruises would consider going to Cuba...

  • June 23- JetBlue Airways Corp on Tuesday said it will add its premium "Mint" class to transcontinental flights from Boston, the first new city for a service that JetBlue credits with helping it steal share from competitors. JetBlue will offer Mint service, the airline's answer to first and business class, on flights from Boston to San Francisco starting March 2016...

  • DETROIT, June 22- Air bag maker Takata Corp may have put profits before safety in a way that contributed to one of the biggest and most complex auto recalls ever, Democrats on a U.S. Senate committee said in a report released on Monday. The report by the minority on the Senate Commerce Committee was released the day before a Washington hearing on Takata's defective...

  • Senators say Takata may have put profits over safety Monday, 22 Jun 2015 | 4:21 PM ET

    DETROIT— A group of U.S. senators says automotive air bag maker Takata Corp. may have placed profit over safety by halting safety audits of factories. Democratic members of the Senate Commerce Committee made the allegation in a report on the Takata air bag crisis, citing internal company emails showing that the global audits were stopped for financial reasons...

  • Sirius XM wins a US court ruling over pre-1972 songs Monday, 22 Jun 2015 | 3:13 PM ET

    June 22- Sirius XM Radio Inc won a victory in its legal battle to limit how much it spends to play music, as a federal judge said Florida law does not require the satellite radio company to pay royalties on songs made before 1972.. District Judge Darrin Gayles in Miami breaks from rulings by federal judges in New York and Los Angeles against Sirius in related...

  • *Gold drops as dollar rises on Greek deal hopes. NEW YORK, June 22- A new offer by Greece on a reform package to avoid a default on its debts raised hopes that a tangible deal with international creditors was still possible, lifting world stock indexes and pushing down gold prices on Monday. The ministers agreed to reconvene before the week is over, after Greece...

  • US STOCKS-Wall Street up on Greece hopes, M&A chatter Monday, 22 Jun 2015 | 12:59 PM ET

    *Global markets higher on Greece deal optimism. June 22- U.S. stocks were higher in early afternoon trading on Monday, helped by a surge in M&A chatter, particularly in the healthcare sector, and on hopes that a deal was nearer to avert a looming crisis in Greece. The Nasdaq Composite index rose to a record 5,159.36 points, while the S&P 500 came just five points shy of...