FOX First At Ten Business News

GAO says airline merger would reduce competition

By DAVID KOENIGAP Airlines Writer DALLAS (AP) - A government analyst says the merger of American Airlines and US Airways would reduce competition on more than 1,600 routes traveled by more than 53 million passengers. A researcher for the Government Accountability Office said Wednesday that the loss

Stocks slide as Fed says bond purchases could slow

NEW YORK (AP) - Stocks are closing sharply lower and bond yields are rising after Fed Chairman Ben Bernanke said the central bank could slow its massive bond purchases this year. The Dow Jones industrial average dropped 206 points, or 1.4 percent, to 15,112. It was the Dow's seventh straight

Italian icons find no respite from tax man

By COLLEEN BARRYAssociated Press MILAN (AP) - Sophia Loren wore green silk and sunglasses for her date with the taxman, Luciano Pavarotti a suit and sneakers. Diego Maradona gave up his diamond stud earring to pay off a tax debt. Some of Italy's most well-heeled residents have come under the

Fed sees lower US unemployment, more growth

By CHRISTOPHER S. RUGABERAP Economics Writer WASHINGTON (AP) - The Federal Reserve sketched a slightly brighter picture of the U.S. economy this year and next, a sign it is moving closer to slowing its bond-buying program. The Fed now predicts unemployment will fall to 7.2 percent or 7.3 percent at