National business and financial news from NewsOK

  • Cheaper wireless plans cut into AT&T 2Q profit

    Updated: 26 min ago

    NEW YORK (AP) — AT&T Inc. on Wednesday posted lower net income for the latest quarter due to cheaper cellphone plans it introduced as a response to aggressive pricing from smaller competitor T-Mobile US. AT&T said half of its wireless subscribers have already moved to "Mobile Share Value"...

  • Judge halts drilling permits next to condors

    Updated: 33 min ago

    SAN FRANCISCO (AP) — A California court has delivered a setback to an oil company seeking to drill wells within a few miles of condor habitat at the state's Pinnacles National Park. A Monterey County Superior Court judge ruled Monday that authorities in central California should have weighed...

  • FDA approves new painkiller from OxyContin maker

    Updated: 38 min ago

    WASHINGTON (AP) — The Food and Drug Administration has approved a new combination pain pill from the maker of OxyContin that is designed to discourage abuse by painkiller addicts. Purdue Pharma's new drug Targiniq ER is an extended release tablet that combines oxycodone — the active...

  • Facebook 2Q earnings, revenue soar

    Updated: 42 min ago

    MENLO PARK, Calif. (AP) — Facebook is on a roll. The world's largest online social network posted sharply higher earnings on Wednesday as revenue from mobile advertising continued to grow, and more people used it, more often. The company's shares climbed nearly 4 percent in extended trading...

  • SEC considering action against S&P over ratings

    Updated: 1 hr ago

    WASHINGTON (AP) — Standard & Poor's says regulators have told the rating agency they are considering taking civil enforcement action against it over ratings it gave to six deals in 2011 involving securities tied to commercial mortgages. S&P's parent McGraw Hill Financial Inc. disclosed...

  • Audit: NASA doesn't have the money for big rockets

    Updated: 1 hr ago

    WASHINGTON (AP) — NASA doesn't have enough money to get its new, $12 billion rocket system off the ground by the end of 2017 as planned, federal auditors say. The Government Accountability Office issued a report Wednesday saying NASA's Space Launch System is at "high risk of missing" its...

  • US wildlife officials propose limiting snake trade

    Updated: 1 hr ago

    HONOLULU (AP) — Federal wildlife officials recently proposed strict nationwide limits on importing and shipping boa constrictors and four other snake species in an effort to prevent them from being introduced into the wild. The U.S. Fish and Wildlife Service would prohibit bringing the snakes...

  • Twitter admits to diversity problem in workforce

    Updated: 1 hr ago

    SAN FRANCISCO (AP) — Twitter is acknowledging that it has been hiring too many white and Asian men to fill high-paying technology jobs, just like several other major companies in Silicon Valley. The lack of diversity in Twitter's workforce of roughly 3,000 people was spelled out in data...

  • Nunn and Perdue shift to fall battle of outsiders

    Updated: 1 hr ago

    ATHENS, Ga. (AP) — New Republican nominee David Perdue and Democratic opponent Michelle Nunn used the first day of the general election campaign to retool the "outsider" arguments they've used to reach this point in a race that will help determine who controls the Senate for the final years of...

  • Board OKs wetlands license for Cove Point

    Updated: 1 hr ago

    ANNAPOLIS, Md. (AP) — The Maryland Board of Public Works approved a wetlands license on Wednesday for Dominion Resources to build a pier that is needed to construct a liquefied natural gas export facility in Calvert County. The board, which includes Gov. Martin O'Malley, Comptroller Peter...

  • Soybeans bounce off lowest prices since 2010

    Updated: 1 hr ago

    Soybean futures rose Wednesday as forecasts for dry weather pulled prices up from their lows for the year. Soybeans rose 19 cents to settle at $10.77 a bushel. Other crop futures also rose. Wheat rose 6 cents to $5.31 a bushel and corn added 3 cents to $3.71 a bushel. Favorable weather...

  • US economy, though sluggish, may now be sturdier

    Updated: 1 hr ago

    WASHINGTON (AP) — Out of a seemingly hollow recovery from the Great Recession, a more durable if still slow-growing U.S. economy has emerged. That conclusion, one held by a growing number of economists, might surprise many people. After all, in the five years since the recession officially...

  • Fair Trade brings big sales and a clear conscience

    Updated: 1 hr ago

    NEW YORK (AP) — Brooklyn Roasting Co. has a booming business based on helping people thousands of miles away. Ninety percent of the coffee the New York-based company sells is Fair Trade — certified as produced by people who are treated and paid well. Being socially responsible pays off for...

  • S&P 500 ekes out record high as earnings roll in

    Updated: 1 hr ago

    NEW YORK (AP) — The stock market eked out a record high Wednesday, as investors weighed positive earnings from the technology industry against disappointing news from Boeing and other companies. Apple's earnings topped Wall Street expectations, helped by rising shipments of iPhones. Microsoft...

  • Officials: Williston fire burned chemicals; air OK

    Updated: 2 hr ago

    WILLISTON, N.D. (AP) — An emergency manager says this week's fire at a Williston oil field supply company likely burned dozens of different chemicals that were stored there. Williams County Emergency Manager Mike Hallesy says the fire at Red River Supply will need to be fully extinguished...

  • FDA warns of compounded drug recall by Texas firm

    Updated: 2 hr ago

    WASHINGTON (AP) — The Food and Drug Administration warned doctors Wednesday not to use compounded drugs from a Texas specialty pharmacy due to potential risks of contamination. The agency says FDA inspectors recently uncovered unsanitary conditions at Unique Pharmaceuticals' plant in Temple,...

  • Social Security spent $300M on 'IT boondoggle'

    Updated: 2 hr ago

    WASHINGTON (AP) — Six years ago the Social Security Administration embarked on an aggressive plan to replace outdated computer systems overwhelmed by a growing flood of disability claims. Nearly $300 million later, an internal report says the new system is nowhere near ready and agency...

  • Delta and Apple are big market movers

    Updated: 2 hr ago

    NEW YORK (AP) — Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Delta Air Lines Inc., up $1.47 to $39.15 The airline's second-quarter earnings topped analysts' expectations, as passengers flew more miles at higher...

  • Meat supplier in China scandal has global reach

    Updated: 2 hr ago

    NEW YORK (AP) — It isn't a household name, but the company at the center of a food scandal in China helps make some of the world's most popular foods, including the Big Macs and Quarter Pounders served at McDonald's locations. OSI Group, a privately-held company based in Aurora, Illinois, was...

  • GM issues 6 more safety recalls

    Updated: 2 hr ago

    DETROIT (AP) — General Motors issued six more recalls on Wednesday, bringing its annual total to 60 recalls covering almost 30 million vehicles. The latest recalls cover nearly 823,000 cars, trucks and SUVs mostly in North America but including a small number of exports. The largest is for...

  • Awarded a Pell Grant? Better double-check

    Updated: 2 hr ago

    WASHINGTON (AP) — Potentially tens of thousands of students awarded a Pell Grant or other need-based federal aid for the coming school year could find it taken away because of a mistake in filling out the form. The mistake primarily stems from an online form change to the Free Application for...

  • Details of 6 GM recalls announced Wednesday

    Updated: 2 hr ago

    General Motors announced six more recalls Wednesday, bringing its total so far this year to 60, affecting nearly 30 million vehicles. Wednesday's recalls total nearly 823,000 cars, trucks and SUVs in North America, plus a small number of exports. Here are the models covered and details of the...

  • Trump: DC hotel will be among world's best

    Updated: 2 hr ago

    WASHINGTON (AP) — Donald Trump has big plans for the Old Post Office building, a historic structure in downtown Washington that he's pledging to transform into the city's most luxurious hotel. As for the White House, four blocks away? He's not saying. The real estate mogul and reality TV star...

  • Former trader gets 2 years in prison for fraud

    Updated: 2 hr ago

    NEW HAVEN, Conn. (AP) — A federal judge sentenced a former Wall Street trader to two years in prison on Wednesday for securities fraud, saying he took advantage of a government bailout program. The judge also fined Jesse Litvak $1.75 million. "This was a market that was dead in the water,"...

  • Stopping deadly oil train fires: New rules planned

    Updated: 2 hr ago

    WASHINGTON (AP) — Responding to a series of fiery train crashes, the government proposed rules Wednesday that would phase out tens of thousands of older tank cars that carry increasing quantities of crude oil and other highly flammable liquids through America's towns and cities. But many...



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