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.» Read More
LOUISVILLE, Ky.-- The CEO of a bankrupt southern Kentucky oil company was indicted Wednesday on federal charges that he failed to pay more than $1.6 million in taxes over two years and with making false statements to a licensed gun dealer.
WABASH, Ind.-- An energy drink maker is planning a $25 million expansion that's expected to bring up to 200 new jobs to a northern Indiana city. Living Essentials, the producer of 5- hour ENERGY, announced Wednesday it would build and equip a plant in Wabash with a total of 1 million square feet to be added in phases.
THE CHALLENGE: The leaders of France and Spain said Wednesday that the 17 countries that use the euro already have all the tools they need to solve their debt crisis and now must put their promises into action.
NEW YORK-- The Dow Jones industrial average is finishing sharply lower after downbeat reports from two stocks in the average, Alcoa and Chevron. Alcoa, the aluminum company, beat Wall Street earnings estimates on Tuesday night but cut its demand expectation for the year, mostly because of a slowdown in China.
NEW YORK-- DRINK UP: A small Coke bottler in Minnesota says it will no longer make the 6.5- ounce returnable, glass bottles it had been making since 1932.. The Coca-Cola Co. notes that its 8- ounce recyclable glass bottles are nearly identical and still widely available.
BAG O' HURT: Thousands of motorists may be driving cars and trucks installed with dangerous counterfeit bags and they should have them replaced at their own expense, according to the National Highway Traffic Safety Administration. :In government tests last month of 11 counterfeit bags, 10 failed to inflate properly or didn't inflate at all.
NEW YORK-- The fall TV season has claimed its first victim: the CBS series "Made in Jersey." CBS announced Wednesday the legal drama had been pulled from the Friday lineup after just two airings. The network, which is part of CBS Corp., is replacing it with the fourth season of the reality series "Undercover Boss," starting Nov. 2.
STEADY GOLD: The price of gold rose 10 cents an ounce to $1,765.10 on a rough day for the broader financial markets. SEESAW CRUDE: Oil closed down $1.14 to $91.25 per barrel. AG REPORT: Grain investors are waiting for a report Thursday from the Agriculture Department on world supply and demand.
John Lynch said Wednesday that New Hampshire is in pretty good financial shape after achieving a $13.8 million budget surplus in the fiscal year that ended June 30.
HARRISBURG, Pa.-- The Pennsylvania Department of Environmental Protection has issued a permit for a new electric power plant that will be supplied at least partly with locally produced natural gas from the Marcellus Shale.
Carmen Wilkerson ran for mayor of St. George with one clear goal in mind for the tiny Missouri town: Get rid of it. In 2008, St. George _ known as a local speed trap _ had spent $200,000 more than it took into its coffers, according to county records. In its budget woes, St. George is far from alone.
In the end, it was the reluctance of governments in Germany, Britain and France that led to the demise of the $45 billion deal that would have combined Britain's BAE Systems, with EADS NV, of Germany and France. Questions were also raised about what the deal would do to the delicate balance that Germany and France have achieved in EADS after years of bickering.
NEW YORK-- Shares of AuRico Gold surged more than 17 percent on Wednesday, as the Canadian gold mining company announced that it is selling the Ocampo mine, adjacent exploration projects and half of the Orion development project for $750 million.
NEW YORK-- Shares of auto parts retailers declined Wednesday after Sterne Agee& Leach downgraded Penske Automotive Group and Group 1 Automotive Inc., after their stock had gained value for months. Group 1 shares lost $1.34, or 2.1 percent, to $63.04 in afternoon trading and Penske stock lost 86 cents, or 2.7 percent, to $31.
NEW YORK-- The price of oil finished lower Wednesday after some mixed economic signals. Benchmark crude rose early in the day after the government reported wholesale stockpiles rose, and sales were up for the first time in four months. The Labor Department said Wednesday that job openings dropped by 32,000 to 3.56 million in August.
DETROIT-- The largest recall in Toyota's 75- year history could undermine the Japanese automaker's comeback from natural disasters and embarrassing safety problems. Toyota said grease wasn't applied evenly to the switch during production, causing friction and sometimes smoke and fire.
HOUSTON-- Endeavour International Corp. on Wednesday priced its private offering of an additional $54 million of its 12 percent first priority notes due 2018.. The Houston oil and gas company said the notes were priced at 109 percent of par, at a yield worst of 9.436 percent. Endeavor shares fell 53 cents, or 5.7 percent, to $8.83 in afternoon trading.
Analyst Sung Ji Nam said that for now, the major sources of growth for companies including Illumina Inc. and Life Technologies Corp. will be sales of new, more advanced gene-sequencing products and disposable items used in testing, and their biggest clients will remain academic and clinical customers.
Shulman, who was appointed IRS commissioner by President George W. Bush and confirmed by the Senate in March, 2008, will leave the post on Nov. 9. The IRS, in its biography of Shulman, noted that under his tenure the agency has gone from eighth to third out of the 14 largest federal agencies in a rating of the best places to work.