• US existing home sales fall in August

    Updated: 18 hr ago

    WASHINGTON (AP) — Fewer Americans bought homes in August, as investors retreated from real estate and first-time buyers remained scarce. Sales of existing homes fell 1.8 percent to a seasonally adjusted annual rate of 5.05 million, the National Association of Realtors said Monday. That snaps a four-month streak of gains. August sales are down from a July rate of 5.14 million, a figure that was revised slightly downward. Much of the decline came from the exodus of investors, who had been buying properties in the aftermath of the housing bust and recession. Investors accounted for just 12 percent of August purchases, compared to 17 percent a year earlier. Overall, the pace of home sales has dropped 5.3 percent year-over

  • JGWPT will change name to JG Wentworth Co.

    Updated: 18 hr ago

    NEW YORK (AP) — Finance company JGWPT Holdings said Monday it will change its name to The J.G. Wentworth Co. on Sept. 30. JGWPT Holdings Inc. buys structured settlement payment streams under the J.G. Wentworth and Peachtree brands. The company said it is adopting the J.G. Wentworth name because that is its best-known brand, and said Peachtree will continue to operate as a separate brand. The company's ticker symbol will remain "JGW." JGWPT Holdings is based in Radnor, Pennsylvania, and it went public in November. Its shares slipped 5 cents to $12.18 in morning trading.

  • Clorox exits Venezuela citing govt restrictions

    Updated: 19 hr ago

    OAKLAND, Calif. (AP) — Clorox is shutting down all operations in Venezuela, citing restrictions by the government, supply disruptions and economic uncertainty. Shares jumped 3 percent before the opening bell Monday. The consumer products company said that for almost three years its affiliate, Corporación Clorox de Venezuela S.A., had to sell more than two-thirds of its products at prices frozen by the Venezuelan government. Over that same time span, there was a sharp rise in inflation that resulted in significantly higher costs for Clorox. The Clorox Co. affiliate met repeatedly met with government authorities and said it had expected significant price hikes would be allowed earlier in 2014.

  • US stocks open lower on weakness in China

    Updated: 19 hr ago

    NEW YORK (AP) — U.S. stocks are opening lower as investors worry about some soft economic data from China and a profit warning by the British retailer Tesco. The Dow Jones industrial average fell 19 points, or 0.1 percent, to 17,259 as of 9:35 a.m. Eastern time Monday. The Standard & Poor's 500 index fell three points, or 0.2 percent, to 2,007. The Nasdaq composite lost 12 points, or 0.3 percent, to 4,565. The Dow had three record-high closes last week and is coming off of five straight gains. Yahoo fell 3 percent, the most in the S&P 500. Sigma-Aldrich rose the most, 34 percent. The St. Louis-based chemical firm agreed to be bought by the German drug company Merck. Bond prices rose. The yield on the

  • TTM to buy rival circuit board maker Viasystems

    Updated: 20 hr ago

    NEW YORK (AP) — TTM Technologies Inc. said Monday that it plans to buy rival circuit board maker Viasystems Group Inc. for about $368 million in cash and stock. TTM, which makes circuit boards used in cellphones, medical devices and tablets, said it is buying Viasystems to expand into the auto industry. The deal is expected to close in the first half of next year. Costa Mesa, California-based TTM is paying $11.33 in cash and 0.706 share of its stock for each share of Viasystems. That comes to about $16.46 for each share of Viasystems, a 41 percent premium from its closing price of $11.70 on Friday. Viasystems, based in St. Louis, had 20.9 million shares outstanding as of Aug. 1.

  • Gas prices dip in New Hampshire

    Updated: 20 hr ago

    CONCORD, N.H. (AP) — Gas prices in New Hampshire have decreased 2.8 cents in the past week, averaging $3.39 a gallon. Gasbuddy.com says that's 5 cents more than the national average, which fell 3.4 cents last week to $3.34 a gallon. Gas prices in New Hampshire are 18.5 cents per gallon lower than they were a year ago, and 6.8 cents per gallon lower than a month ago. The national average decreased 8.1 cents per gallon in the last month and stands 15 cents a gallon less compared to a year ago.

  • Auxilium Pharma rejects Endo's takeover offer

    Updated: 21 hr ago

    CHESTERBROOK, Pa. (AP) — Auxilium Pharmaceuticals Inc.'s board has rejected an approximately $1.4 billion unsolicited takeover offer from Ireland's Endo International PLC. Auxilium, based in Chesterbrook, Pennsylvania, had adopted a one-year "poison pill" shareholder rights plan last week. The drugmaker continues to support its plan to combine with Canadian eye drugmaker QLT Inc. in an all-stock deal. Auxilium said Monday that the offer from Dublin-based Endo is not a superior proposal and significantly undervalues its business. Auxilium said it still has the right to hold talks with Endo and other third parties under terms of its merger agreement with QLT. QLT said Monday that it still supports the merger with

  • Siemens to acquire Dresser-Rand for $7.6 billion

    Updated: 21 hr ago

    HOUSTON (AP) — German electronics and engineering company Siemens AG has reached a deal to acquire oilfield equipment maker Dresser-Rand for $7.6 billion. Under the deal announced early Monday in Germany, Siemens will pay $83 per common share of Dresser-Rand Group Inc., $3.09 more than the company's closing share price on Friday. Dresser Rand's market capitalization is $6.12 billion. The deal includes assumption of debt. Dresser-Rand's board of directors unanimously recommended the offer to shareholders, and Siemens expects to close the deal by summer, according to a statement from the company.

  • Naver says no IPO for Line messenger app in 2014

    Updated: 22 hr ago

    SEOUL, South Korea (AP) — South Korean Internet company Naver Corp. said Monday its popular Line instant messaging app won't go public on a stock exchange this year. Naver, which is Line's parent company, said in a regulatory filing that Line Corp. had ruled out going public in 2014. The filing did not say whether Line will seek an IPO next year. In July, Naver said Line had submitted an IPO application to the Tokyo Stock Exchange and was also considering listing its shares in New York. Naver spokesman Nam Jiwoong said Line executives believed 2014 was not an ideal time for an IPO. He said Line was profitable and growing rapidly so didn't need to raise money by selling shares. Line had 490 million us

  • Ohio gas prices down again to start work week

    Updated: 23 hr ago

    COLUMBUS, Ohio (AP) — Gas is down again in Ohio, with prices at some stations in the state hovering just above the $3-a-gallon mark. A gallon of regular gas was averaging $3.19 in Monday's survey from auto club AAA, the Oil Price Information Service and WEX Inc. That's 12 cents lower than a week ago and 19 cents less than last month at this time. The Ohio average is lower than the national average, which was $3.34 on Monday. That's about a nickel less than a week ago and a dime less than a month ago. Among Ohio's metropolitan areas, the Toledo area has lowest average at about $3.05 per gallon. Analysts say gas prices likely will continue to fall in the coming weeks. ___ Online: AAA Daily Fuel G

  • Hospital converting to biofuels for heating

    Yesterday

    NORTH CONWAY, N.H. (AP) — A New Hampshire hospital is converting its heating system from petroleum fuels to biofuels and is believed to be the first hospital in the country to use the fuel. Memorial Hospital in North Conway has partnered with Ottawa-based Ensyn Fuels, which produces renewable fuels and chemicals from forest residues. The hospital says the change will allow it to convert its entire heating requirements, reducing its greenhouse gases from heating fuels by about 85 percent and total emissions by about 75 percent. It estimates a heating cost reduction of over 30 percent. The hospital is marking the occasion with a presentation on Wednesday.

  • AAA Michigan: Gas prices fall 13 cents in week

    Yesterday

    DEARBORN, Mich. (AP) — AAA Michigan says gasoline prices in the state fell about 13 cents in the last week, totaling a 25-cent drop over the past two weeks. The auto club says that the average price per gallon of self-serve regular unleaded gasoline was $3.36 on Sunday. That's about 22 cents less than it was one year ago. Dearborn-based AAA Michigan surveys fuel costs at 2,800 Michigan gas stations daily. It says the cheapest price was $3.23 a gallon in the Lansing and East Lansing area, and the most expensive was $3.56 in the Marquette area. Gas in the Detroit area decreased about 10 cents from last week to roughly $3.41 per gallon. ___ Online: http://www.fuelgaugereport.

  • UAW workers in Indiana approve Lear Corp. contract

    Updated: Sun, Sep 21, 2014

    HAMMOND, Ind. (AP) — Workers at a Lear Corp. plant in northwestern Indiana that makes automotive seats approved an agreement Sunday that will end a two-tiered pay system that left some workers earning much less than others. The United Auto Workers said in a statement that members of Local 2335 had "overwhelmingly" backed the four-year contract. It did not give a specific vote count. Local 2335 Vice President Hanif Hassan had said earlier that about 760 union members were voting. Workers at the Hammond plant about 30 miles southeast of Chicago make seats for the Explorer and Taurus models produced at Ford's Chicago Assembly Plant. They went on strike Sept. 13, but returned to work the next day after the tentative deal was re

  • Senate resolution opposes Canadian nuke waste plan

    Updated: Sun, Sep 21, 2014

    TRAVERSE CITY, Mich. (AP) — U.S. Sen. Carl Levin has introduced a resolution urging the Obama administration to oppose a Canadian proposal to bury radioactive waste less than a mile from Lake Huron. A federal panel in Canada is taking testimony on the plan to store low- and intermediate-level waste from nuclear power plants in rock chambers more than 2,000 feet below the surface. Ontario Power Generation proposes storing low- and intermediate-level waste from nuclear power plants in rock chambers at a site in Kincardine, Ontario, about 140 miles north-northeast of Detroit. The utility has said that the lake would be protected.

  • Gov. Brown signs clean-air vehicle legislation

    Updated: Sun, Sep 21, 2014

    SACRAMENTO, Calif. (AP) — Gov. Jerry Brown signed into law several bills designed to boost use of clean-air vehicles in California. One bill signed Sunday allows 15,000 additional electric and partial zero-emissions vehicles, or 70,000 total vehicles, to get green stickers that allow driving in carpool lanes even when solo. Another requires freeway high-occupancy toll lane operators to allow clean air vehicles to drive for free or reduced rates. Such roads exist in Orange and Riverside counties, and the San Francisco area. Another bill requires a property owner, rather than the person leasing it, to install an electric vehicle charging station and its infrastructure in most cases.

  • 'Maze Runner' races past 'Tombstones' with $32.5 M

    Updated: Sun, Sep 21, 2014

    NEW YORK (AP) — The young-adult adaptation "The Maze Runner" raced to the top of the box-office with $32.5 million, giving a budding franchise a quick start out of the gate. The 20th Century Fox release easily outpaced the $13.1 million debut of Liam Neeson's hardboiled private eye thriller "A Walk Among the Tombstones" and the $11.9 million opening for the ensemble-cast dramedy "This Is Where I Leave You," according to studio estimates Sunday. The strong opening for "The Maze Runner," adapted from James Dashner's science-fiction YA novel, is a big success for a movie that cost $34 million to make and was released in the normally quiet month of September.

  • Study: Apple's new iPhones score big in durability

    Updated: Sun, Sep 21, 2014

    NEW YORK (AP) — Apple's new and bigger iPhone 6 and iPhone 6 Plus are more durable than last year's model and a leading Android phone, a study says. Apple's iPhone 6, whose screen measures 4.7 inches, did the best across a variety of tests that measures how prone smartphones are to break due to everyday accidents, according to SquareTrade, a company that provides extended protection plans. The iPhone Plus 6, whose screen measures 5.5 inches, wasn't far behind but lost points because it could slip out of a person's hand since some users may have a hard time gripping its large but slim form, SquareTrade says. The iPhone 5s, which measures 4 inches and came out last year, fared better than Samsung's Galaxy S5, which meas

  • Delaware drivers see gas prices drop to $3.29

    Updated: Sun, Sep 21, 2014

    WASHINGTON (AP) — Motorists in Delaware are paying 11 cents less at the pump when compared with a week ago. AAA Mid-Atlantic said Sunday in a weekly report that the average price of a gallon of regular unleaded gas in Delaware was $3.29. That's compared to $3.40 a week ago. Motorists in the region are paying 16 cents less than a year ago. At this time last year Delaware drivers were paying $3.45 per gallon. The price of gas in the state is 5 cents less than the national average of $3.34 per gallon.

  • US gas prices fall, extending summer decline

    Updated: Sun, Sep 21, 2014

    CAMARILLO, Calif. (AP) — A national survey says the average price of a gallon of regular gasoline has dropped another 9 cents over the last two weeks, to $3.37, bringing the decline to 34 cents over the last 13 weeks. Industry analyst Trilby Lundberg said Sunday that falling crude oil prices drove the declines, but the drop was also heavily impacted by a crash in prices of ethanol and the fact that winter-grade gasoline costs less to produce. If crude prices don't rise, the average prices at the pump may drop a few more cents. Jackson, Mississippi, had the lowest price among cities surveyed in the Lower 48 states, with $3.03 a gallon. San Francisco had the highest at $3.79 a gallon. The average price for a gallon in C

  • UAW workers to vote on proposed Lear Corp contract

    Updated: Sun, Sep 21, 2014

    HAMMOND, Ind. (AP) — Workers at a northwestern Indiana Lear Corp. plant that makes automotive seats are preparing to vote on a tentative agreement that ended a one-day strike. United Auto Workers spokesman Sam Knowles says about 760 union members will begin voting Sunday afternoon on the tentative contract. Voting will continue into Sunday evening. Workers at the Hammond plant about 30 miles southeast of Chicago make seats for the Explorer and Taurus models produced at Ford's Chicago Assembly Plant. They went on strike Sept. 13, but returned to work the next day after the tentative deal was reached. UAW Local 2335 President Jaime Luna says the tentative agreement would end a system that locks newer workers into lower