Business Highlights

Published on NewsOK Modified: April 22, 2014 at 5:29 pm •  Published: April 22, 2014
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Job market for college grads better but still weak

WASHINGTON (AP) — The job market for college graduates is brightening a bit.

The Labor Department said Tuesday that the unemployment rate for 2013 college graduates was 10.9 percent. That's down from 13.3 percent in 2012. But unemployment for recent grads was still higher than the 9.6 percent rate for all Americans ages 20 to 29 last October, when the government collected the numbers.

Finding work remains tough and many new graduates are settling for jobs outside their fields of study or for less pay than they'd expected. Still, Americans who have college degrees are far more likely to find employment and to earn more than those who don't.

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GM, lawyers fight over bankruptcy protections

DETROIT (AP) — General Motors Co. and a battalion of trial lawyers are preparing for an epic court fight over whether GM is liable for the sins of its corporate past.

The company is asking a U.S. bankruptcy court to shield it from legal claims for actions that took place before the company's 2009 bankruptcy. But lawyers who are suing GM say it shouldn't get the usual benefits of bankruptcy protection because it concealed a deadly ignition switch problem when the court was making bankruptcy decisions.

They also say the company's motion is part of a broader strategy to force settlements in dozens of lawsuits alleging the ignition switches caused deaths and injuries.

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Internet TV case: Justices skeptical, concerned

WASHINGTON (AP) — Supreme Court justices debated Tuesday whether they can protect the copyrights of TV broadcasters to the shows they send out without strangling innovations in the use of the Internet.

The high court heard arguments in a dispute between television broadcasters and Aereo Inc., which takes free television signals from the airwaves and charges subscribers to watch the programs on laptop computers, smartphones and TVs.

The case has the potential to bring big changes to the television industry.

There was a good measure of skepticism about Aereo's approach. But several justices expressed concern that a ruling for the broadcasters could hamper the burgeoning world of cloud computing.

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No solution in sight for China shoe factory strike

BEIJING (AP) — Workers on strike at a Chinese factory owned by the world's largest maker of athletic shoes have rejected management's latest offer in an ongoing labor dispute that is crimping production for brands such as Nike and Adidas.

The on-off work stoppage at Yue Yuen Industrial (Holdings) Ltd.'s massive factory complex in southern China, which employs more than 40,000 workers, has stretched into the second week as both sides have failed to reach an agreement.

The dispute erupted over underpayments for social security and housing fund payments required by Chinese law. It has become one of the largest strikes in China's private sector.

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FDA plan would speed up medical device approvals

WASHINGTON (AP) — The Food and Drug Administration unveiled a proposal Tuesday designed to speed up development and approval of medical devices that treat life-threatening diseases and debilitating conditions.

Under the Expedited Access Program, companies developing devices for critical and unmet medical needs would get earlier access to FDA staff to discuss their products. The agency says the earlier contact with regulators should result in "earlier access to safe and effective medical devices."

The FDA already has a fast-track program for medical devices that are well-established, such as wheelchairs and hip implants. The agency's new proposal is intended to accelerate approval for high-risk devices, generally those that support or sustain life.

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McDonald's 1Q profit slips as US sales decline

NEW YORK (AP) — McDonald's is fighting to hold onto customers in the U.S.

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