• Barra compensation triples to $15.8M in 1st year as GM CEO

    Yesterday

    DETROIT (AP) — General Motors CEO Mary Barra's compensation more than tripled in 2014 to $15.8 million in her tumultuous first year in the automaker's top job. Barra and other top executives got only 74 percent of the cash incentives they could have received, because GM fell short of goals set by the board. But her stock awards more than doubled from 2013 when she was senior vice president of for product development and purchasing. GM reported its 2014 compensation Friday in its proxy filing with the U.S. Securities and Exchange Commission. The company also named a new board member and announced that its annual stockholders meeting will be held on June 9 at GM's Detroit headquarters. Barra, 53, became the first woman

  • Foreigners who came to Brazil in boom times flee the bust

    Yesterday

    RIO DE JANEIRO (AP) — When Frenchman Gwenel Lecourieux was gearing up to move to Brazil, the country with its swelling upper class and world-renowned hunger for luxury goods seemed like the perfect place to set up his dream business, selling high-end watches. But Brazil's economy skidded to a halt and demand evaporated for his watches worth thousands of dollars each. Just 15 months after arriving in Rio de Janeiro, 36-year-old Lecourieux is preparing to cut his losses and return to France. And he's not alone. The number of foreigners receiving work authorizations fell 24 percent between 2013 and 2014, from 62,387 to 47,259, according to the Labor and Employment Ministry.

  • Clarification: New England Energy story

    Yesterday

    HARTFORD, Conn. (AP) — In a story April 23 about energy policy, The Associated Press reported that five of New England's six governors said they would work across the region while each state pursues individual projects. The story should have made clear that the statement was agreed to by all six leaders, including New Hampshire Gov. Maggie Hassan, who did not attend the gathering in Hartford. A clarified version of the story is below. New England governors discuss ways to chop energy prices New England governors agree on long-term strategy to cut high energy prices By STEPHEN SINGER Associated Press HARTFORD, Conn. (AP) — New England's governors agreed Thursday to a mix of regional and state action

  • BYOB: It's brew your own beer at some colleges

    Yesterday

    POMONA, Calif. (AP) — A bachelor's in beer? A master's in malt? Not quite. But these days some colleges are teaching students to make beer as part of their studies. When California State Polytechnic University, Pomona, fired up its gleaming new stainless steel brewery in December, it joined a small but growing number of colleges instructing students how to produce high-quality craft beers. At the same time, it took the movement a step beyond — kegging the results of their labors and selling it on campus.

  • American Airlines beats Street 1Q forecasts

    Yesterday

    FORT WORTH, Texas (AP) — The fuel bill at American Airlines fell by nearly half in the first quarter, helping the company set a record profit despite a dip in revenue. The combination of cheaper fuel and steady demand for flights within the U.S. is boosting all the major domestic airlines, with American joining Delta, United and Southwest in posting sharply higher earnings. American Airlines Group Inc. said Friday that net income was $932 million, nearly double last year's $480 million, the previous record for the quarter. The record profit, however, was less than the company's $1.36 billion savings on fuel, compared with a year earlier.

  • Durable goods orders up, but business investment falls again

    Yesterday

    WASHINGTON (AP) — Purchases of long-lasting manufactured goods in March jumped by the largest amount in eight months, but a closer look at the details reveals that businesses kept pruning their investment plans in the face of a softening U.S. economy. Orders to factories for durable goods rebounded 4 percent in March after a 1.4 percent decline in February, the Commerce Department reported Friday. The result was led by a big jump in demand for commercial aircraft. Outside of the transportation category, however, orders fell for a sixth straight month. More worrying was a 0.5 percent drop in demand in a key category that serves as a proxy for future business investment. The retreat followed a 2.2 percent drop in February and

  • Rent spike forces cartoon museum from San Francisco space

    Yesterday

    SAN FRANCISCO (AP) — There's nothing funny about the uncertain transition of the Cartoon Art Museum. The San Francisco facility bills itself as the only museum in the West dedicated to preserving and sharing "cartoon art in all its forms." Over the past 30 years, it has exhibited editorial cartoons, comic books, graphic novels, anime, Sunday funnies, Saturday morning cartoons and other works. It also boasts a research library (what's Porky Pig's signature slogan again?) and a 7,000-piece permanent collection. But the museum faces a sad tale: Monthly rent has doubled in its space south of Market. It is forced to find a new permanent home in the next two months. "We've been through this before with the dot-com boo

  • Scuttled mining combo tops list of biggest failed deals

    Yesterday

    Comcast's failed $45 billion deal for Time Warner Cable is a high-profile example of a failed deal, but it doesn't crack the list of the 10 largest. It's not even the biggest scuttled takeover attempt of a company named Time Warner. That distinction belongs to an unsolicited, $79.6 billion bid for Time Warner Inc. made by Rupert Murdoch's 21st Century Fox, according to financial data provider Dealogic. Time Warner Inc. spun off Time Warner Cable Inc. in 2009. Here is Dealogic's list of the 10 largest failed deals globally, with the price, acquirer, target, and year things fell apart. — $144.97 billion: BHP Billiton, Rio Tinto Plc, 2008 — $117.35 billion: Pfizer Inc., AstraZenca Plc, 2014 — $97.92

  • What could McDonald's do to fix its business?

    Yesterday

    NEW YORK (AP) — When it comes to McDonald's, everyone seems to have an opinion about what the company needs to do differently. After turning in another quarter of sliding sales and profit, McDonald's CEO Steve Easterbrook said the chain will unveil initial details on a plan to turn around its fortunes on May 4. Among the challenges it is facing are intensifying competition and an image for serving junk food that it just can't seem to shake. Already this year, McDonald's has given a nod to the "clean label" trend with a simplified grilled chicken recipe, and announced plans to curb the use of antibiotics in raising chickens. In March, it also hosted a "Turnaround Summit" for franchisees in the U.S. The company isn't pr

  • McClatchy reports 1Q loss

    Yesterday

    SACRAMENTO, Calif. (AP) — McClatchy Co. (MNI) on Friday reported a loss of $11.3 million in its first quarter. The Sacramento, California-based company said it had a loss of 13 cents per share. Losses, adjusted for severance costs, came to 10 cents per share. The media company and owner of The Kansas City Star posted revenue of $257.2 million in the period. The company's shares closed at $1.53. A year ago, they were trading at $5.96. _____ This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MNI at http://www.zacks.

  • Big technology stocks rise in early trading; Amazon soars

    Yesterday

    NEW YORK (AP) — Big gains by Amazon and Google are lifting technology stocks in early trading. Amazon soared 15 percent early Friday after revealing details about its cloud computing service for the first time. Google and Microsoft also rose after reporting their latest quarterly results. The technology-heavy Nasdaq composite index rose far more than the rest of the market. The Nasdaq gained 32 points, or 0.7 percent, to 5,087 as of 9:35 a.m. Eastern time. The gain came a day after the index beat its record-high close from 2000 at the height of the dot-com boom. The Dow Jones industrial average fell 21 points, or 0.1 percent, to 18,036. The Standard & Poor's 500 rose two points, or 0.1 percent, to 2,115.

  • Manure trade show's slogan contest produces pile of entries

    Yesterday

    Entries are piling up for a slogan contest being held this year by the North American Manure Expo. The trade show, now in its 13th year, showcases the latest technology in manure handling, treatment and application. It's being held in July in Chambersburg, Pennsylvania. An official event slogan has already been settled on: "2015 Manure Expo: Manure than you can Handle!" It will appear on the front of a T-shirt. But contestants are vying to land a spot on the back of the T-shirt, which event organizers say will display 10 of the "crappiest" also-rans. Writers of the 10 alternate slogans get a free T-shirt. Many entries, predictably, contain a vulgar substitute for "manure.

  • Comcast deal may be dead, but cable consolidation will go on

    Yesterday

    NEW YORK (AP) — Even though Comcast's $45.2 billion bid for Time Warner Cable is dead, consolidation among the companies that pipe in our TV, phone and Internet will carry on. Combining the No. 1 and No. 2 U.S. cable companies would have put nearly 30 percent of TV and about 55 percent of broadband subscribers under one roof, along with NBCUniversal. That appeared to be too much concentration for regulators. Comcast and Time Warner Cable said Friday morning that they would drop the deal in the face of opposition from regulators. But cable companies are likely to keep merging as online video options proliferate, the number of cable and satellite TV subscribers slips and costs rise for the shows, sports and movies piped

  • Proposed Los Angeles-area NFL stadium boasts lightning bolts

    Yesterday

    CARSON, Calif. (AP) — New designs for a proposed NFL stadium in the Los Angeles area include simulated lightning bolts for the San Diego Chargers and a flame honoring late Oakland Raiders owner Al Davis. The thoroughly revamped plans for the $1.7 billion joint stadium proposal by the two teams were released Thursday, just two months after the project and an initial set of designs were announced and two days after it received approval from the Carson City Council. The designs were presented in New York this week to NFL Commissioner Roger Goodell and the league's committee on possibly relocating a team to greater Los Angeles. The flowing, metallic modern stadium design features a horseshoe-shaped seating arrangement tha

  • Biogen results rise, but miss 1Q forecasts

    Yesterday

    CAMBRIDGE, Mass. (AP) — Biogen Idec Inc. reported lower-than-expected profit and revenue for the first quarter on slower sales growth of its multiple sclerosis drug Tecfidera. Its shares fell more than 4 percent in premarket trading Friday. The biotechnology company reported its first-quarter profit climbed 71 percent to $822.5 million, or $3.49 per share. Earnings, adjusted for one-time gains and costs, were $3.82 per share. But that missed Wall Street expectations, with the average estimate of 18 analysts surveyed by Zacks Investment Research expecting $3.92 per share. Revenue rose 20 percent to $2.55 billion, which also fell short of Street forecasts. Nineteen analysts surveyed by Zacks expected $2.66 billio

  • Agency wants to put monitoring well near oil wastewater well

    Yesterday

    SCOTTSBLUFF, Neb. (AP) — A regional agency that protects groundwater intends to install a monitoring well near a newly approved disposal well in western Nebraska for wastewater from oil and natural gas exploration and production. The North Platte Natural Resources District says the monitor well will be located near the wastewater well site north of Mitchell that was approved Wednesday by the Nebraska Oil and Gas Conservation Commission. The wastewater project has drawn objections from groups that worry that spills could contaminate the Ogallala aquifer or local groundwater. The production water is considered waste because of its high salt content and industrial chemicals.

  • Leading Ukraine politician says billionaire inciting unrest

    Yesterday

    KIEV, Ukraine (AP) — A leading politician in Ukraine published documents Friday that he says show the country's richest man is plotting to incite unrest to ensure the government steers clear of reforms that would hurt his business. Parliament deputy Mustafa Nayyem, a respected former reporter, wrote in an article on the Ukrainska Pravda website that protest marches this week by miners had been coordinated by an energy company owned by billionaire Rinat Akhmetov. Hundreds of miners have gathered outside government buildings in the capital over recent days in calls for the resignation of the energy minister and for guarantees on a moratorium on mine closures. Demonstrators have also demanded that the government suspend

  • Comcast dropping $45 billion Time Warner Cable bid that would have created cable behemoth

    Yesterday

    NEW YORK (AP) — Comcast dropping $45 billion Time Warner Cable bid that would have created cable behemoth.

  • US durable goods orders in March posted biggest gain in 8 months, but investment down

    Yesterday

    WASHINGTON (AP) — US durable goods orders in March posted biggest gain in 8 months, but investment down.

  • New York attorney general sues 2 tanning salon chains

    Yesterday

    ALBANY, N.Y. (AP) — New York's attorney general has filed suit against two tanning salon chains, accusing them of downplaying health risks while playing up the allure of bronze skin. Attorney General Eric Schneiderman (SHNEYE'-dur-muhn) filed the lawsuits against Portofino Spas and Total Tan Thursday. He says both franchises falsely advertise the health benefits of indoor tanning by promoting it as a safe alternative to tanning outdoors. Schneiderman says there's nothing safe about indoor tanning. He accuses the two companies of supporting the opposite message. Attorneys for Total Tan denied the allegations. Representatives for Portofino didn't immediately respond to requests for comment.




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