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FOX First At Ten Business News

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Stock indexes head higher in afternoon trading

Stock indexes head higher in afternoon trading
Submitted by Fox First at Ten on May 21st
NEW YORK (AP) - The stock market turned higher Tuesday as investors banked on continued policy support from the Federal Reserve. Two big retailers also topped Wall Street expectations for the most recent quarter. The Dow Jones industrial average rose 64 points to 15,399 shortly after 1 p.m. Eastern

France: Drugmaker on trial, suspected in deaths

France: Drugmaker on trial, suspected in deaths
Submitted by Fox First at Ten on May 21st
NANTERRE, France (AP) - The makers of a diabetes and weight loss drug suspected in the deaths of hundreds of people went on trial Tuesday, facing charges they misled the public about the product's safety. But after years of delays in one of France's biggest recent health scandals, the

Sprint boosts buyout offer for Clearwire

Sprint boosts buyout offer for Clearwire
Submitted by Fox First at Ten on May 21st
OVERLAND PARK, Kan. (AP) - Sprint says it has raised its buyout offer for the stake in Clearwire it does not already own by 14 percent. Sprint Nextel Corp. said Tuesday that it is offering $3.40 per share for Clearwire Corp. Its previous offer, from December, was for $2.97 per share for the

Microsoft expected to reveal next-generation Xbox

Microsoft expected to reveal next-generation Xbox
Submitted by Fox First at Ten on May 21st
By DERRIK J. LANGAP Entertainment Writer REMOND, Wash. (AP) - Will Xbox mark the spot once again for Microsoft? The company is set to reveal the next generation of its Xbox entertainment console during a presentation Tuesday at its headquarters in Redmond, Wash. It's been eight years since the

Futures fall as markets await hints from Fed

Futures fall as markets await hints from Fed
Submitted by Fox First at Ten on May 21st
NEW YORK (AP) - U.S. stock futures are down in light trading ahead of an appearance this week by Fed Chairman Ben Bernanke before Congress. Dow Jones industrial futures slipped 4 points to 15,315. S&P futures have given up 1.1 points to 1,663.50. Nasdaq futures are up 1.75 points to 3,019.25.

Apple's Cook to face Senate questions on taxes

Apple's Cook to face Senate questions on taxes
Submitted by Fox First at Ten on May 21st
By MARCY GORDONAP Business Writer WASHINGTON (AP) - A Senate panel says Apple Inc. is avoiding paying billions of dollars in U.S. taxes, but the world's most valuable company says it is complying with the laws and pays "an extraordinary amount" in taxes to the U.S. government. Apple Inc. CEO

Vodafone annual profits up 1.9 percent

Vodafone annual profits up 1.9 percent
Submitted by Fox First at Ten on May 21st
LONDON (AP) - U.K.-based mobile telecoms company Vodafone has reported a 1.9 increase in annual profits despite a slowdown in much of its European operations. It reported Tuesday net profits of 7.70 billion pounds ($11.665 billion) for the year ending March 2013 compared with 7.55 billion pounds

Best Buy reports 1Q loss on restructuring costs

Best Buy reports 1Q loss on restructuring costs
Submitted by Fox First at Ten on May 21st
MINNEAPOLIS (AP) - Best Buy Co. on Tuesday reported a loss in its fiscal first quarter as it sold its stake in Best Buy Europe and works on a turnaround plan that includes cutting costs and closing some stores. Its adjusted earnings beat Wall Street expectations, but revenue fell short as the

Burberry's profit hit by perfume deal's demise

Burberry's profit hit by perfume deal's demise
Submitted by Fox First at Ten on May 21st
LONDON (AP) - British luxury brand Burberry says that the end of a perfume licensing deal depressed its bottom line, dragging net profit down 3 percent for the year ending on March 31. But shares in the Burberry Group PLC rose just over 1 percent to 14.83 pounds Tuesday after the company reported

German central bank: Economy to improve 'markedly'

German central bank: Economy to improve 'markedly'
Submitted by Fox First at Ten on May 21st
By DAVID McHUGHAP Business Writer FRANKFURT, Germany (AP) - Germany's central bank expects the country's economy to improve "markedly" in the second quarter - a development that could boost the wider eurozone as it struggles to get out of recession. The Bundesbank said Tuesday that Europe

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Protesters chant 'Stop the IRS' in Cincinnati

Protesters chant 'Stop the IRS' in Cincinnati
Submitted by Fox First at Ten on May 21st
By DAN SEWELLAssociated Press CINCINNATI (AP) - Tea party activists waving flags and signs, singing patriotic songs and chanting anti-IRS slogans protested outside federal buildings across the country Tuesday to protest the agency's extra scrutiny of conservative groups. A crowd packed the

WATCH LIVE: Clay Starbuck Trial Happening Now; Accused Of Murdering His Ex Wife

WATCH LIVE: Clay Starbuck Trial Happening Now; Accused Of Murdering His Ex Wife
Submitted by Fox First at Ten on May 21st
SPOKANE, Wash. – The trial of Clay Starbuck, charged with killing his ex-wife Chanin and sexually violating her remains, entered its third week Monday at the Spokane County Courthouse. Chanin Starbuck was found strangled to death in her Deer Park home in December of 2011, and Clay

Small Fla. city anxious to learn jackpot winner

Small Fla. city anxious to learn jackpot winner
Submitted by Fox First at Ten on May 20th
By TAMARA LUSH and BARBARA RODRIGUEZAssociated Press ZEPHYRHILLS, Fla. (AP) - It could be an anxious wait of up to two months for people in a small Florida city to find out who won the highest Powerball jackpot in history: an estimated $590.5 million. The lucky ticket was bought sometime Saturday