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Alcoa's 1Q profit rises, beats expectations

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Published on 04/08/2013 - 2:38 pm
Written by Associated Press

Alcoa’s products wind up in many things, so investors study the company's results for hints about earnings in other industries.(AP) — Alcoa Inc. kicked off earnings season Monday by reporting a larger first-quarter profit than analysts expected, helped by strong demand for aluminum used to make airplanes and automobiles.

Senate confirms White to head SEC

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Published on 04/08/2013 - 12:48 pm
Written by MARCY GORDON, AP Business Writer

Former U.S. attorney Mary Jo White was nominated by President Obama as chairman of the Securities and Exchange Commission. (AP) — The U.S. Senate has confirmed Mary Jo White's nomination as chairman of the Securities and Exchange Commission, making her the first former prosecutor to lead the federal agency that oversees Wall Street.

Stocks rise ahead of earnings season

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Published on 04/08/2013 - 11:06 am
Written by STEVE ROTHWELL, AP Markets Writer

The Dow Jones industrial average closed up 48 points, while the S&P 500 gained nine points and the Nasdaq rose 18 points.(AP) — Stocks ended modestly higher Monday, shrugging off an early decline, as investors waited to see whether big U.S. companies would deliver on expectations of strong earnings in 2013.

Trial over Martha Stewart brand resumes

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Published on 04/08/2013 - 11:04 am
Written by ANNE D'INNOCENZIO, Associated Press

The issue is whether Macy's has exclusive rights to sell some of Martha Stewart branded products such as cookware and bedding. (AP) — Attorneys for J.C Penney and Macy were back in court Monday to fight over the Martha Stewart brand after a monthlong mediation period went nowhere.

Oil slide continues, natural gas soars

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Published on 04/05/2013 - 1:25 pm
Written by JONATHAN FAHEY, AP Energy Writer

Gas prices inched lower, dropping a penny to $3.63 per gallon. Prices have been slowly falling since peaking at $3.79 on Feb. 27. (AP) — The price of oil dipped below $93 a barrel Friday after a weak U.S. jobs report cast doubt on the strength of the U.S. economy.

USDA restores monthly milk reports in limited form

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Published on 04/05/2013 - 11:15 am
Written by Associated Press

The National Agricultural Statistics Service said last month that it would be suspending monthly milk production estimates.(AP) — The U.S. Department of Agriculture's statistical arm has reversed a plan to eliminate some monthly reports that dairy farmers and milk processors say are important to their business.

FAA delays closing of airport control towers

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Published on 04/05/2013 - 10:47 am
Written by JOAN LOWY, Associated Press

The towers, which are run by private contractors for the FAA, will be shut down or handed over to local authorities June 15. (AP) — The closings of control towers at 149 small airports, due to begin this weekend because of government-wide spending cuts, are being delayed until June 15, federal regulators announced Friday.

Stocks lower after disappointing jobs report

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Published on 04/05/2013 - 9:42 am
Written by STEVE ROTHWELL, AP Markets Writer

The Dow Jones industrial average closed down 40 points, while the S&P 500 fell six points and the Nasdaq dropped 21 points.(AP) — Stocks fell on Wall Street Friday after the government reported that U.S. employers added the fewest jobs in nine months in March and more people gave up looking for work.

Obama seeks deal, proposes cuts to Social Security

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Published on 04/05/2013 - 9:34 am
Written by JIM KUHNHENN, Associated Press

Obama is aiming for a budget compromise by combining higher taxes with GOP insistence on reductions in entitlement programs. (AP) — President Barack Obama's proposed budget will call for reductions in the growth of Social Security and other benefit programs while still insisting on more taxes from the wealthy in a renewed attempt to strike a broad deficit-cutting deal with Republicans.

NY judge makes morning-after pill available to all

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Published on 04/05/2013 - 9:09 am
Written by LARRY NEUMEISTER, LAURAN NEERGAARD, Associated Press

The ruling by Judge Edward Korman of means consumers of any age could buy emergency contraception without a prescription.(AP) — In a scathing rebuke of the Obama administration, a federal judge ruled Friday that age restrictions on over-the-counter sales of the morning-after pill are "arbitrary, capricious and unreasonable" and must end within 30 days.