Business News


  • RAF FAIRFORD, England, July 12- The U.S. Navy on Friday maintained a grounding order for F-35 B-model and C-model fighter jets built by Lockheed Martin Corp, saying it was still not clear what caused a massive engine failure on an Air Force F-35 jet on June 23.

  • U.S. cupcake chain Crumbs may reopen with new owners Friday, 11 Jul 2014 | 10:28 PM ET

    July 11- Crumbs Bake Shop Inc may get a second chance if a bankruptcy judge approves a deal for the owner of Dippin' Dots ice cream and the star of a reality television show to buy and reopen the U.S. cupcake chain, according to a court document.

  • Female Yahoo executive sued for sexual harassment Friday, 11 Jul 2014 | 10:00 PM ET

    Maria Zhang, a senior director of engineering at Yahoo Mobile, has been sued by Nan Shi, who worked as a principal software engineer in Yahoo from February 2013, according to a complaint filed on July 8 in Santa Clara Superior Court in San Jose, California.

  • District Judge Thomas Griesa in New York. Argentina continues to demand Griesa reinstate a stay, or suspension, on his judgments while talks continue. Holdouts say Argentina still refuses to negotiate without any pre-conditions.

  • Chinese man accused of hacking into US computers Friday, 11 Jul 2014 | 8:27 PM ET

    SAN DIEGO— U.S. authorities have charged a Chinese businessman with hacking into the computer systems of U.S. companies with large defense contracts, including Boeing, to steal data on military projects, including some of the latest fighter jets, officials said Friday.

  • AP Top Extended Financial Headlines At 8:25 p.m. EDT Friday, 11 Jul 2014 | 8:25 PM ET

    NY: Details about oil train shipments will go to local emergency planners, can be made public No sale by owner: Americans with lower mortgage rates hold tightly onto homes US reports $71 billion surplus in June; projected to have smallest annual deficit in 6 years Stocks stabilize, but end with biggest weekly loss since April as investors grow cautious Amazon petitions Federal Aviation Administration for permission to fly drones for deliveries Cigarette makers Reynolds American, Lorillard discussing merger; would create formidable No. 2 Economists cut US growth forecasts, but remain optimistic economy will recover from grim 1 Q Cancer patients, families urge FDA to block fibroid removal technique that can spread cancer Crude oil falls 2 pct, resuming a 2- week slide, on ample supply, muted demand Head of US agency Pension Benefit Guaranty Corp resigning; Gotbaum longest-serving PBGC head

  • Head of US pension agency resigning Friday, 11 Jul 2014 | 8:06 PM ET

    WASHINGTON— The federal agency that insures company pensions for more than 40 million Americans says its top official is resigning. Joshua Gotbaum, a former investment banker, was appointed by President Barack Obama as director of the Pension Benefit Guaranty Corp. in July 2010.

  • DIARY - Top economic Events to July 24 Friday, 11 Jul 2014 | 8:01 PM ET

    STRASBOURG- ECB President Mario Draghi speaks at the Quarterly Hearing before the Committee on Economic and Monetary Affairs of the European Parliament in Strasbourg, France. WASHINGTON- Federal Reserve Chair Janet Yellen testifies on the central bank's semiannual monetary policy before the Senate Banking Committee- 1400 GMT.

  • July 11- Walt Disney Co, Discovery Communications Inc and CBS Corp are being asked for information by U.S. antitrust officials probing Comcast Corp's proposed takeover of Time Warner Cable Inc, Bloomberg reported on Friday.

  • Billionaire Elon Musk giving $1M to Tesla museum Friday, 11 Jul 2014 | 7:42 PM ET

    SHOREHAM, N.Y.— The billionaire owner of Tesla Motors is giving $1 million to a New York museum dedicated to preserving its namesake's legacy. The Tesla Science Center announced Elon Musk's donation on what would have been inventor Nikola Tesla's 158th birthday.

  • JACKSON HOLE, Wyoming, July 11- U.S.

  • Holdout creditor says Argentina not negotiating Friday, 11 Jul 2014 | 7:09 PM ET

    NEW YORK, July 11- One lead holdout creditor in the sovereign debt dispute with Argentina emerged from five hours of meetings with a court-appointed mediator on Friday saying the government still refuses to have a negotiation 12 years after its historic default.

  • WASHINGTON, July 11- Prices on Puerto Rico debt drifted higher on Friday and trading of the junk-rated bonds slowed, calming some of the recent market turbulence inspired by the island's troubled power authority.

  • Figures on government spending and debt Friday, 11 Jul 2014 | 6:56 PM ET

    WASHINGTON— Figures on government spending and debt.

  • AP Top Financial News At 6:44 p.m. EDT Friday, 11 Jul 2014 | 6:44 PM ET

    Less selling US records $71 billion budget surplus in June Stocks stabilize, but end down for the week Amazon asks FAA for permission to fly drones Tobacco firms Reynolds, Lorillard in merger talks Economists lower forecasts for US growth FDA weighs cancer risk of fibroid removal devices Oil price falls 2 pct, biggest drop since April House votes to make business tax break permanent



  • HONG KONG, July 11- A former Macau business partner of Las Vegas Sands Corp accused the casino operator of misappropriating trade secrets and is suing Sands for at least $5 billion in profits that it says are owed via their joint ownership of copyright related to a casino license bid.

  • SAN FRANCISCO, July 11- A group of 27 top executives and investors in Alibaba Group Holding Ltd, including co-founder Jack Ma, can appoint another two directors to the company's board once it goes public, according to a U.S. regulatory filing on Friday.

  • United Airlines reducing Venezuela flights Friday, 11 Jul 2014 | 6:35 PM ET

    CHICAGO— United Airlines is the latest carrier to say it will reduce flights to Venezuela over a dispute about money trapped by tight currency controls in the South American country. American Airlines Group Inc., Delta Air Lines Inc. and several foreign airlines have previously announced cutbacks.