WRAL.com - AP Business News

Greece's grim choice: deep budget cuts or default

Sat, 11 Feb 2012 12:20:50 -0500

Why would Greece accept more pain when unemployment is at 21 percent, the economy is enduring its fifth year of recession and rioters are hurling gasoline bombs in the streets of Athens?

Greece's coalition party leaders back bailout deal

Sat, 11 Feb 2012 10:33:28 -0500

The leaders of the two parties backing Greece's coalition government made dramatic appeals to their deputies Saturday to back legislation that calls for harsh new austerity measures — essential if Greece is to get a new bailout deal worth euro130 billion ($171.6 billion) and stave off bankruptcy.

Staff at The Sun tabloid arrested in bribe inquiry

Sat, 11 Feb 2012 13:07:46 -0500

The Sun newspaper was fighting to contain the damage after five employees of Britain's biggest-selling tabloid were arrested Saturday in an inquiry into the alleged payment of bribes to police and other officials, detectives and the newspaper's parent company said.

Turbo-traders take Bank of America for a ride

Fri, 10 Feb 2012 08:53:06 -0500

On a normal day, 4 billion shares of stock change hands on the New York Stock Exchange. One in 10 belongs to a single company. It's not McDonald's or IBM, both of which have been on a tear.

Deadline nears, Obama wants payroll tax cut action

Sat, 11 Feb 2012 06:00:00 -0500

President Barack Obama is pressuring Congress to extend a payroll tax cut for the rest of the year as another deadline nears for Congress to act or see taxes go up for millions of working people.

Justice Department calls Swiss Bank a "fugitive"

Sat, 11 Feb 2012 12:22:11 -0500

The U.S. Justice Department called Switzerland's largest private bank a fugitive from justice after it didn't send any representatives to a court hearing in New York, where it has been charged with conspiring with American clients to hide $1.2 billion from the Internal Revenue Service.

As Facebook IPO nears, the case for dull stocks

Sat, 11 Feb 2012 10:33:14 -0500

Investors thinking of buying a piece of Facebook after it goes public are hoping it will perform like Google, whose stock has risen 500 percent since its debut seven and a half years ago.

Bernanke: Weak housing has hurt consumer spending

Fri, 10 Feb 2012 15:23:24 -0500

Ben Bernanke said declines in home prices have forced many Americans to cut back sharply on spending and warned that the trend could continue to weigh on the U.S. economy for years.

Stocks fall sharply as Greek deal is held up

Fri, 10 Feb 2012 17:12:24 -0500

Stocks had their worst day of the year Friday after Greece hit a roadblock on its way to a critical bailout.

Trade deficit widens to $48.8 billion in December

Fri, 10 Feb 2012 11:13:19 -0500

Monthly U.S. exports to Europe grew in December, a hopeful sign after a steep decline the previous month. But, some economists remain concerned that the region's debt crisis will still weigh on the U.S. economy this year.