FOX First At Ten Business News

A divided Fed wrestles with when to slow bond buys

Submitted by Fox First at Ten on May 22nd

By MARTIN CRUTSINGERAP Economics Writer WASHINGTON (AP) - The Federal Reserve is torn over when to slow its aggressive efforts to stimulate the economy. Its uncertainty burst into view Wednesday, when Chairman Ben Bernanke testified to Congress in the morning and the Fed in the afternoon released

FDA panel backs experimental Merck insomnia drug

Submitted by Fox First at Ten on May 22nd

WASHINGTON (AP) - A federal panel of medical experts says that an experimental insomnia drug from Merck & Co Inc. appears safe and effective, despite evidence from company trials that the pill can cause daytime sleepiness and difficulty driving. A majority of panelists on the Food and Drug

Tesla uses stock, note sale to repay government

Submitted by Fox First at Ten on May 22nd

DETROIT (AP) - Electric car maker Tesla Motors says it has repaid a loan from the U.S. government nine years early. The company says it wired a $451.8 million payment to the government on Wednesday to retire a loan it received from the Department of Energy. The agency loaned Tesla $465 million in

HP's slumps deepens in 2Q as earnings fall 32 pct

Submitted by Fox First at Ten on May 22nd

SAN FRANCISCO (AP) - Hewlett-Packard's slump is deepening as the world's largest personal computer maker scrambles to meet the growing demand for more versatile and less expensive mobile devices. A quarterly earnings report released Wednesday provided the evidence of Hewlett-Packard Co.

Stocks fall on news Fed weighed cutting stimulus

Submitted by Fox First at Ten on May 22nd

NEW YORK (AP) - Stocks are closing lower on news that several Federal Reserve policymakers favored cutting back on stimulus programs as early as June if the economy continues to improve. The release of minutes of the Fed's April 30-May 1 meeting reversed a surge earlier in the day. The Dow

Am. Samoa to keep flier miles for govt travelers

Submitted by Fox First at Ten on May 22nd

By FILI SAGAPOLUTELEAssociated Press PAGO PAGO, American Samoa (AP) - American Samoa plans to take away frequent flier miles from government workers who travel on behalf of the U.S. territory. Gov. Lolo Matalasi Moliga says the territory will use the miles to help medical patients travel off-island

Palestinians have little faith in Kerry effort

Submitted by Fox First at Ten on May 22nd

By MOHAMMED DARAGHMEHAssociated Press RAMALLAH, West Bank (AP) - Palestinians believe the U.S. effort to restart peace talks is doomed, and they're preparing instead to resume their campaign of seeking membership in key international organizations as soon as next month, officials told The

Pizza on Mars: NASA funds development of 3D printer that can knock out pizza

Submitted by Fox First at Ten on May 22nd

By Trevor MoggProvided by If you'd told someone in 1922 that in 50 years time a guy in a space suit would be dancing across the surface of the moon singing, "I was strolling on the moon one day, in the merry merry month of December May," that person would more than likely have suggested you

Fiat Industrial aims to shift tax home to Britain

Submitted by Fox First at Ten on May 22nd

By COLLEEN BARRYAP Business Writer MILAN (AP) - Fiat Industrial disputed as "absolutely false" reports Wednesday that Italy would lose 500 million euros ($646 million) in tax revenues if it moves its tax base to Britain after it completes a merger with its U.S.-based subsidiary CNH Global NV. But