• US stocks open higher; Yahoo soars in early trade

    Updated: 52 min ago

    U.S. stocks moved higher in early trading on Wednesday, extending their gains into a third day. Investors welcomed solid earnings from Yahoo as well as some encouraging news about China's economy and U.S. factory production. KEEPING SCORE: The Standard & Poor's 500 index rose 10 points, or 0.6 percent, to 1,853 in the first 45 minutes of trading. The Dow Jones industrial average gained 100 points, or 0.6 percent, to 16,363. The Nasdaq added 25 points, or 0.6 percent, to 4,059. All three indexes are up for the week but are still down for the month. YAHOO FOR ASIA: Yahoo jumped $2.44, or 7.1 percent, to $36.64 in early trading.

  • CSX railroad expects modest 2014 profit growth

    Updated: 1 hr ago

    OMAHA, Neb. (AP) — CSX railroad expects to deliver modest profit growth this year, but the impact of the severe winter will linger into the second quarter. Officials with the railroad said on a conference call Wednesday that the improving economy and stronger domestic utility demand for coal will boost CSX's earnings in the second half of this year and in 2015. The Jacksonville, Fla.-based railroad had said Tuesday that the harsh winter disrupted shipments and contributed to a 14 percent drop in its first-quarter profit even as it hauled 3 percent more freight. CSX Corp. stock declined more than 3 percent to $27.40 Wednesday morning.

  • Editorials from around Pennsylvania

    Updated: 1 hr ago

    Editorials from around Pennsylvania: ____ BE AWARE OF WHERE YOUR CHARITABLE GIVING GOES To be sure, Goodwill Industries of North Central Pennsylvania helps people and the environment. It sells inexpensive donated clothing, household goods and other items, allowing families to stretch budgets and reducing the amount of material sent to landfills. But the nonprofit apparently holds less than charitable feelings toward some competition. The bickering we have seen among otherwise positive organizations is unnecessary and could turn off potential donors.

  • A sampling of editorials from around New York

    Updated: 1 hr ago

    ALBANY, N.Y. (AP) — The New York Daily News on the proposal to hold a parade in Manhattan for veterans of Iraq and Afghanistan. April 14. The war in Iraq, begun in 2003, is over. The war in Afghanistan, the longest military conflict in our history, will end in December. Their ends look and feel different from those of many other conflicts the nation has endured. No peace treaties signed on the decks of ships, or banner headlines declaring victory, or warm embraces of those who fought them by a grateful nation. We can change at least one of those facts — with a seismic outpouring of gratitude in the Canyon of Heroes, where America's best have been honored over the generations. That was the brilliant idea sugges

  • Yahoo, PNC among early winners among US stocks

    Updated: 1 hr ago

    Stock indexes are opening higher after more U.S. companies reported solid earnings and some encouraging news about China's economy. Yahoo soared 8 percent after the company said it was benefiting from its lucrative investments in Asia and that its advertising sales were recovering. PNC Financial rose 1 percent after reporting earnings that were better than analysts were expecting. The Standard & Poor's 500 index rose seven points, or 0.4 percent, to 1,850 in the first few minutes of trading Wednesday. The Dow Jones industrial average gained 83 points, or 0.5 percent, to 16,346 and the Nasdaq rose 14 points, or 0.4 percent, to 4,047. Markets rose in Asia and Europe after China reported that its economy slowed

  • St. Jude Medical 1st-quarter profit rises

    Updated: 1 hr ago

    ST. PAUL, Minn. (AP) — Medical-device maker St. Jude Medical's first-quarter net income rose almost 12 percent, helped by higher sales of its implantable defibrillators and devices that treat a type of irregular heartbeat. The company said four new product approvals in the U.S. will boost sales in the second half of the year and gave guidance within range of analyst expectations. Net income rose to $249 million, or 86 cents per share, for the three months ended March 29 compared with $223 million, or 78 cents per share last year. Excluding restructuring and other costs, it earned 96 cents per share. Analysts expected 95 cents per share, according to FactSet. Revenue rose nearly 2 percent to $1.36 billion from $1.34 bi

  • US factory output extended solid gains in March

    Updated: 1 hr ago

    WASHINGTON (AP) — U.S. factory output rose further last month, extending strong growth from February after harsh weather had caused production to tumble in January. Manufacturers produced more furniture, clothing, chemicals and aerospace products. The Federal Reserve said Wednesday that factory production rose 0.5 percent in March after a revised 1.4 percent surge in February. Manufacturing output has climbed a solid 2.8 percent over the past 12 months. Higher factory output is a sign of greater demand by businesses and consumers. The gains over the past two months point to a rebound after a winter slowdown in January and December stalled growth across the economy. "The U.S.

  • Ford to offer 50th anniversary Mustang

    Updated: 2 hr ago

    NEW YORK (AP) — Ford is building a limited-edition Mustang GT to honor the pony car's 50th anniversary. The company will only build 1,964 special cars, honoring the year the Mustang first went on sale. The 50 Year Limited Edition will come in one of the two colors of Ford's logo: white or blue. Buyers can choose a manual or automatic transmission. There are special chrome highlights around the grille, windows and tail lights. The Limited Edition will also be the only 2015 Mustang with a faux gas cap badge on the rear, where the original cap sat. Limited Edition cars will be among the first built when 2015 Mustang production begins later this year. Ford is showing the Limited Edition at the New York auto sh

  • US home building up in March after frigid winter

    Updated: 2 hr ago

    WASHINGTON (AP) — U.S home construction rose moderately in March as builders resumed work at the end of a frigid winter. But applications for building permits slid, clouding the outlook for future construction. Builders started work on 946,000 homes at a seasonally adjusted annual rate in March, up 2.8 percent from 920,000 in February, the Commerce Department said Wednesday. Construction of single-family homes rose 6 percent, more than offsetting a 3.1 percent drop in the construction of apartments, condominiums and town houses. As the weather moderated, construction rose 30.7 percent in the Northeast and jumped 65.5 percent in the Midwest. But it fell 9.1 percent in the South and 4.5 percent in the West. Applications

  • US home building up in March, led by 6 percent gain in single-family home construction

    Updated: 2 hr ago

    WASHINGTON (AP) — US home building up in March, led by 6 percent gain in single-family home construction.

  • Bank of America posts loss, hurt by legal expenses

    Updated: 3 hr ago

    CHARLOTTE, N.C. (AP) — Bank of America said Wednesday that it swung to a loss in the first quarter, hurt by $6 billion in legal expenses. The Charlotte, N.C., bank reported a loss applicable to common shareholders of $514 million. That's compares with earnings of $1.11 billion a year earlier. The loss amounted to 5 cents a share. A year earlier, the bank earned 10 cents a share. Revenue totaled $22.66 billion after stripping out an accounting change. That was down 3.8 percent from last year. The $6 billion legal expense stems from a previously announced settlement with the Federal Housing Finance Agency, and additional reserves for other mortgage-related matters.

  • Oil nears $105 as conflict in east Ukraine deepens

    Updated: 3 hr ago

    The price of oil approached $105 a barrel Wednesday as concerns grew over the crisis in Ukraine, which took military action against separatists in its east. Gains were temporarily tempered by slower Chinese growth. By early afternoon in Europe, benchmark U.S. crude for May delivery was up $1.04 at $104.79 a barrel in electronic trading on the New York Mercantile Exchange. On Tuesday, the Nymex contract closed 30 cents lower. Brent crude, a benchmark for international varieties of crude, was up 76 cents at $110.12 a barrel on the ICE Futures exchange in London. Ukraine's government sent tanks and troops to reclaim government buildings occupied by pro-Russian gunmen in its eastern region.

  • Officials gather in ND to discuss new EPA rules

    Updated: 5 hr ago

    BISMARCK, N.D. (AP) — Agency and industry representatives from about two dozen states are meeting in Bismarck to discuss new federal clean air rules. The two-day summit begins Wednesday and is hosted by the state Health Department and Bismarck-based Basin Electric Power Cooperative. Organizers say the intent is to decide how states should respond to new federal Environmental Protection Agency requirements aimed at cutting pollution from power plants and oil refineries. The proposed EPA rule is part of a Climate Action Plan released by President Barack Obama last year. The rule would cap emissions at existing coal-fired power plants and set limits for emissions on all future plants. Gov.

  • Schumer opens NY's new utility control center

    Updated: 8 hr ago

    RENSSELAER, N.Y. (AP) — U.S. Sen. Charles Schumer has formally opened the state's new high-tech utility control center near Albany that aims to improve the efficiency of the state's electrical grid. The Democrat attended the official opening of the $38 million center Tuesday. Known as the New York Independent System Operator Utility Control Center, the facility is intended to better coordinate electrical production with demand. Schumer's office says the center wills serve as a "central nervous system" for the state's power grid. The Senator says the facility will reduce electrical costs and blackouts and make power more reliable. The new center is in Rensselaer (rehn-suh-LEER'), across the Hudson River from Albany.

  • W.Va. average per-gallon gas price up 1 cent

    Updated: 8 hr ago

    CHARLESTON, W.Va. (AP) — Gas prices in West Virginia went up a penny a gallon since last week. AAA East Central reports that the average price for a gallon of regular unleaded is $3.66 this week. That's 2 cents cheaper than the national average. Motorists across West Virginia are finding a wide range of pump prices. They range from a low of $3.61 in Morgantown to a high of $3.73 in Martinsburg.

  • Va regs set hearings on Appalachian Power rates

    Updated: 8 hr ago

    RICHMOND, Va. (AP) — Virginia regulators have scheduled hearings on rates that Appalachian Power charges customers for generation, distribution, and transmission services. The State Corporation Commission has set a Sept. 16 hearing in Richmond to review the electric provider's rates. Any changes would take effect in early 2015. Appalachian Power is proposing to increase the monthly residential customer charge from $8.35 to $16. Customers pay that amount regardless of how much electricity they use. To offset the charge, the company wants to lower the base rate for each kilowatt-hour of electricity consumed. Appalachian Power also is seeking to establish two residential energy-efficiency programs.

  • Offshore rig taking on water but stable after wave

    Updated: 13 hr ago

    GALVESTON, Texas (AP) — An offshore drilling rig is taking on water but is stable after being hit by a large storm wave off the Texas coast. The U.S. Coast Guard says the rig was drilling for oil and gas in 3,000-foot depths around 10 a.m. Tuesday when the wave hit. Petty Officer Manda Emery says the platform was knocked 55 feet, and one of three watertight chambers in one of the rig's six floatation columns began taking on water. Emery says the platform is being kept level and there is no spill. None of the 116 crew members was injured, and there have been no evacuations. The rig is about 130 miles from Galveston. Coast Guard Petty Officer 1st Class Andy Kendrick says the well is being drilled for Houston

  • Coca-Cola beverage sales bubble up as soda goes flat

    By CANDICE CHOI, Associated Press | Updated: 14 hr ago

    Coca-Cola, the world’s biggest beverage maker, said Tuesday that the amount of soda it sold globally fell for the first time in 15 years.

  • Jamaica grants license for natural gas project

    Updated: 14 hr ago

    KINGSTON, Jamaica (AP) — A Hong Kong-based company has been granted a license for what would be a major new power project in Jamaica, the Caribbean island's energy minister announced Tuesday. Phillip Paulwell said Energy World International is to supply 381 megawatts of natural gas-fired generating capacity for Jamaica's power grid. He called the project a "game changer" for the tropical country, which is almost entirely dependent on imported petroleum and diesel fuel. The project would be the biggest power plant in Jamaica and be implemented over a period of 26 months, Paulwell said. Paulwell said the proposed plant is "among the first steps toward reducing the price for electricity to the productive sectors and the

  • US declines to name China a currency manipulator

    Updated: 15 hr ago

    WASHINGTON (AP) — The Obama administration is raising concern about the value of China's currency but is declining, as in recent years, to accuse Beijing of manipulating it. The administration also expressed concern Tuesday about South Korea's actions in currency markets and about countries that use the euro and have wide trade surpluses. The Treasury Department said China's currency, the renminbi, has appreciated but not as fast or as much as needed. Treasury reached that conclusion in its twice-yearly report on whether nations are manipulating currencies to gain trade advantages. China has announced a modest easing of exchange-rate controls, which have been criticized by Washington and other nations.