IAC, Liberty resolve spinoff legal skirmish
Media moguls Barry Diller and John Malone have settled their differences over the breakup of Diller's IAC/InterActiveCorp, paving the way for the Internet conglomerate to spin off four of its units.
Median home prices drop in many cities
Median home prices fell in two-thirds of the cities surveyed during the first three months of this year while sales declined in 46 states compared to a year ago, according to the latest report highlighting the depth of the nation's housing woes.
3 Ky. lawyers face trial, accused of defrauding clients
Two part owners of last year's Preakness winner went on trial Tuesday on charges they defrauded clients out of millions in a case being watched closely by the thoroughbred industry because the men could lose their share of the horse.
Retail sales dip but sales excluding autos show strength
Consumers cut back on car-buying in April but boosted spending in a number of other areas, giving evidence of the economy's staying power in spite of soaring gasoline prices.
Bernanke: Financial turmoil in markets easing
Turmoil in financial markets has eased somewhat, but the situation is still "far from normal," Federal Reserve Chairman Ben Bernanke said Tuesday.
Stocks mixed after retail sales report, spiking oil
Wall Street turned in a mixed performance Tuesday after a fresh report on retail sales and a new oil price record told investors the same old story: The economy is hurting and costs are rising, but things could be worse.
Bonds fall as retail sales stronger than expected
Treasury prices fell Tuesday as signs of modestly better-than-expected consumer spending and rising inflation made safe government securities less attractive to investors.
Gold futures drop after dollar gains against euro
Gold prices fell sharply Tuesday after the dollar gained some muscle against the euro, weakening the appeal of precious metals as an inflation hedge.
Column: How consumers can cut their grocery bills
Q. The price of milk, rice and other food basics is soaring. How can I reduce my grocery bill while still providing my family with nutritious food?
Corporate Express rebuffs sweetened Staples bid
Hours after saying it was open to holding talks, Corporate Express NV said Tuesday a sweetened $2.47 billion hostile takeover bid from its larger office products rival Staples Inc. is still too low.
Wal-Mart and TJX report solid 1st-quarter profit gains
Solid first-quarter profits from discounters Wal-Mart and TJX show that more Americans are hunting for bargains as they struggle to cover their monthly credit card payments, put food on the table and gas in the family car.
Bush administration rules limit lawsuits
Faced with an unfriendly Congress, the Bush administration has found another, quieter way to make it more difficult for consumers to sue businesses over faulty products. It's rewriting the bureaucratic rulebook.
Fewer fliers for summer, but packed planes persist
Fewer Americans are expected to fly this summer, but don't expect more empty seats as carriers park planes to help offset surging fuel costs.
Iran report pushes oil to new record, gas jumps above $3.73
Oil prices shot to a new record near $127 a barrel Tuesday on concerns that Iran may consider cutting crude oil production. Gas prices, meanwhile, rose to a new record over $3.73 a gallon Tuesday, and their advance shows little sign of slowing with Memorial Day weekend, the traditional start of the summer driving season, just 10 days away.
Shorter men finding new options in suits, clothing
Finding a suit that fits is getting easier for the shorter man.
ALL BUSINESS: A tale of 2 resorts
This is not a good economy to take a gamble in.
St. George agrees to Westpac takeover
Westpac Banking Corp. and smaller rival St. George agreed to a takeover deal Tuesday worth 18.6 billion Australian dollars ($17.5 billion) that would create Australia's biggest bank by market capitalization.
TJX profit climbs nearly 20 pct, but shares dip
TJX Cos. said Tuesday its first-quarter profit rose nearly 20 percent as the discount retailer continued to draw shoppers increasingly looking for bargains in a tough economy.
Economic jolt from China's quake seen as limited
The earthquake that ripped through central China's Sichuan province, killing thousands, crumpling roads and factories and disrupting power and communication, will be only a transitory jolt for the booming economy, analysts say.
Wal-Mart profit rises 6.9 pct but outlook cautious
Wal-Mart Stores Inc. on Tuesday said first-quarter profits rose 6.9 percent, but issued a cautious outlook for the current quarter and warned that the economy will be a "critical factor" in 2008.
Business inventories post weak gain in March
Businesses added to their stockpiles in March by the smallest amount in a year, another indication of a weakening economy.
SocGen 1Q net drops on exposure to US mortgages
French bank Societe Generale SA said Tuesday that write-downs linked to the crisis in financial markets led to a 23 percent decline in first-quarter profits.
Toll Brothers preliminary 2Q sales fall 30 percent
Luxury home builder Toll Brothers says preliminary results show homebuilding revenue fell 30 percent in its fiscal second quarter amid a weak spring selling season.
AP Executive Morning Briefing
The top business news from The Associated Press for the morning of Tuesday, May 13, 2008:
WTO: China must address rich-poor gap
China must address a widening gap between its rich and poor if Beijing wants a "harmonious society," the World Trade Organization will report in a trade review of the Asian nation, according to a copy obtained Tuesday by The Associated Press.
Nissan 4Q profit rises; outlook poor
Nissan reported a big jump in fiscal fourth quarter profit Tuesday compared with the previous year. But like other Japanese automakers pinched by a strong yen and soaring oil and material costs, it forecast a tough year ahead.
Airbus announces new delays to A380
Airbus on Tuesday announced new delays on deliveries of the superjumbo A380, already almost two years late, saying the company is behind schedule switching to automated production.
G-8 ministers stress environment protection
The world's top industrialized countries should develop environmentally friendly workplaces and help workers move to nonpolluting industries, their labor ministers said Tuesday.
Oil prices drop below $124 a barrel
Oil prices dropped below $124 a barrel on profit-taking Tuesday in Asia after hitting another trading record in the previous session.
Old gas pumps can't handle ever-rising prices
Mom-and-pop service stations are running into a problem as gasoline marches toward $4 a gallon: Thousands of old-fashioned pumps can't register more than $3.99 on their spinning mechanical dials.
