National business and financial news from NewsOK

  • Crayola to open family attraction in Orlando

    Updated: 7 hr ago

    EASTON, Pa. (AP) — Crayon manufacturer Crayola is building a family attraction in Florida, similar to the one it operates in its home state of Pennsylvania, and more could be on the way around the country if the new place does well. The company said Tuesday that Crayola Experience Orlando...

  • Analysts: Samsung phone shipments falter in 2Q

    Updated: 7 hr ago

    NEW YORK (AP) — An analyst firm says Samsung Electronics Co., the world's biggest maker of smartphones, saw its sales drop in the second quarter. It lost ground to upstart Chinese manufacturers after several years of headlong growth. Research firm IDC says Samsung's smartphone sales fell 4...

  • Safety board finds fault in derailment, response

    Updated: 7 hr ago

    Systemic errors led to a 2012 train derailment in New Jersey that released a dangerous gas into the air, sickening residents and emergency responders, the National Transportation Safety Board said Tuesday in a scathing report. The NTSB faulted Conrail for continuing to open and close the...

  • Obama to announce US sanctions on Russia

    Updated: 8 hr ago

    WASHINGTON (AP) — President Barack Obama is to announce a new round of U.S. sanctions against Russian banks and a shipbuilding company Tuesday. The U.S. penalties follow tougher sanctions agreed to by European Union leaders earlier in the day. According to the Treasury Department, the U.S....

  • EU adopts tough new sanctions on Russia

    Updated: 8 hr ago

    BRUSSELS (AP) — Shocked into action by the downing of the Malaysian airliner and the resulting deaths of more than 200 Europeans, the European Union approved dramatically tougher economic sanctions Tuesday against Russia, to be followed swiftly by similar punitive measures from the U.S. The...

  • Appeals court upholds labels on meat packages

    Updated: 9 hr ago

    WASHINGTON (AP) — A federal appeals court on Tuesday upheld new government rules requiring labels on packaged steaks, ribs and other cuts of meat to say where the animals were born, raised and slaughtered. The meat industry has attempted to block the rules, which went into effect last year,...

  • Entergy 2Q profit climbs 16 percent

    Updated: 9 hr ago

    NEW ORLEANS (AP) — Entergy Corp. (ETR) on Tuesday reported earnings that rose by 16 percent in its second quarter, and fell short of analysts' expectations. The New Orleans-based company said profit after paying preferred dividends increased to $189.4 million, or $1.05 per share, from $163.7...

  • JPMorgan paying $650K to settle CFTC charges

    Updated: 9 hr ago

    WASHINGTON (AP) — JPMorgan Chase will pay $650,000 to settle charges by federal regulators that it filed inaccurate reports on the trading positions of some of its large customers. The Commodity Futures Trading Commission announced the settlement Tuesday. The CFTC said that JPMorgan continued...

  • Pfizer's 2Q profit sinks 79 pct but tops forecasts

    Updated: 10 hr ago

    Pfizer's second-quarter earnings plunged 79 percent from last year, when the world's second-largest drugmaker booked a $10 billion-plus gain from a business spinoff. The New York company said Tuesday it earned $2.91 billion, or 45 cents per share, down from $14.1 billion, or $1.98 per share,...

  • Attorney: Oklahoma drilling tax unconstitutional

    Updated: 10 hr ago

    OKLAHOMA CITY (AP) — An attorney claims a state law that sets Oklahoma's tax on oil and gas production is unconstitutional. Attorney Jerry Fent told a state Supreme Court referee Tuesday the measure does not comply with constitutional guidelines for the passage of revenue bills. Fent says the...

  • Detroit water department placed in mayor's hands

    Updated: 10 hr ago

    DETROIT (AP) — State-appointed emergency manager Kevyn Orr issued an order Tuesday that gives Mayor Mike Duggan control over Detroit's water department. The move comes as the bankrupt city's massive water system was widely criticized for shutting off service to thousands of customers who were...

  • 4 workers injured in Kansas oil refinery fire

    Updated: 10 hr ago

    COFFEYVILLE, Kan. (AP) — Four workers at an oil refinery in southeast Kansas were burned Tuesday in an early morning fire, the Texas company said. CVR Refining said in a news release that the fire at its Coffeyville refinery was reported at 12:30 a.m. and extinguished by 1:18 a.m. The...

  • Escaping email: Inspired vision or hallucination?

    Updated: 10 hr ago

    SAN FRANCISCO (AP) — Dustin Moskovitz is plotting an escape from email. The 30-year-old entrepreneur has learned a lot about communication since he teamed up with his college roommate Mark Zuckerberg to create Facebook a decade ago, and that knowledge is fueling an audacious attempt to change...

  • Arch Coal posts bigger 2Q loss

    Updated: 10 hr ago

    ST. LOUIS (AP) — Arch Coal Inc. said Tuesday that its second-quarter loss widened partly because of nagging rail disruptions and weaker prices for coal used in making steel, though cost controls helped the coal producer's latest earnings surpass analysts' expectations. The St. Louis-based...

  • AK Steel posts smaller 2Q loss

    Updated: 11 hr ago

    WEST CHESTER, Ohio (AP) — AK Steel Holding Corp. (AKS) on Tuesday reported a smaller loss in its second quarter, and topped analysts' expectations. The West Chester, Ohio-based company posted a loss of $17.1 million, or 13 cents per share, compared with a loss of $40.4 million, or 30 cents...

  • Corning donates $1.8M in parts for space telescope

    Updated: 11 hr ago

    ALBANY, N.Y. (AP) — Corning Inc. has donated $1.8 million in high-tech components for a telescope a private group wants to launch into space. The not-for-profit BoldlyGo Institute wants to put its ASTRO-1 telescope in orbit by the mid-2020s. The group says obtaining the components for a...

  • Stocks turn mixed at midday ahead of economic data

    Updated: 11 hr ago

    NEW YORK (AP) — Major stock indexes turned mixed in midday trading as investors waited for a series of key economic reports from the U.S. and China later in the week. The Dow Jones industrial average eased less than one point to 16,983 as of 12:12 p.m. Eastern time Tuesday. The Standard &...

  • Fed is weighing key issues but may reveal little

    Updated: 11 hr ago

    WASHINGTON (AP) — This much is clear: The Federal Reserve will make another cut this week in its monthly bond purchases, which have been aimed at keeping long-term loan rates low. This much is not: When will the Fed start tightening its interest-rate policy to thwart any runaway inflation?...

  • Aetna 2Q profit rises 2.4 percent

    Updated: 11 hr ago

    Aetna's second-quarter profit climbed more than 2 percent, as gains from an acquisition helped the health insurer top expectations and raise its 2014 earnings forecast again. But the Hartford, Connecticut, company's shares slipped Tuesday after it also reported a higher medical cost measurement...

  • 9 solar projects getting more than $442K in grants

    Updated: 11 hr ago

    WAITSFIELD, Vt. (AP) — Nine solar projects in Vermont are going to get more than $442,000 in grants to help provide power for schools and communities. The money is coming from the Clean Energy Development Fund, which was created to increase cost-effective and environmentally sustainable...

  • Gas prices continue downward slide in Oklahoma

    Updated: 11 hr ago

    OKLAHOMA CITY (AP) — AAA Oklahoma says gas prices continue to drop in the state as demand nationwide drops below 9 million barrels per day. On Tuesday, the average price for a gallon of unleaded gasoline was $3.30 in Oklahoma. That's down 22 cents over the past month. The agency says only...

  • Merck 2Q profit more than doubles

    Updated: 12 hr ago

    A big one-time gain and a tax benefit helped drugmaker Merck & Co. more than double second-quarter profit, improve its profit forecast and top analysts' expectations. The maker of popular Type 2 diabetes pill Januvia said Tuesday that net income increased to $2 billion, or 68 cents per share,...

  • Report: More acidic seawater poses risks in Alaska

    Updated: 12 hr ago

    JUNEAU, Alaska (AP) — The release of carbon dioxide into the air from power plant smokestacks to the tailpipe on your car could pose a risk to red king crab and other lucrative fisheries in Alaska, a new report says. Ocean water becomes more acidic when it absorbs carbon dioxide released by...

  • Ocean Spray worker dies in fall through skylight

    Updated: 12 hr ago

    HENDERSON, Nev. (AP) — Authorities say a Nevada man is dead after falling through a skylight at the Ocean Spray fruit juice distribution center where he worked. Clark County coroner's officials say 53-year-old Harry Lentz died at a hospital after the Saturday morning accident at the Black...

  • Jimmy Dean moves beyond breakfast for first time

    Updated: 12 hr ago

    NEW YORK (AP) — Jimmy Dean is coming to dinner — and lunch, too. The sausage brand started by the late country singer of the same name has become a breakfast staple, with product offerings even including a pancake-and-sausage on a stick. Now the brand is hoping its new bowls and sandwiches...



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