Business | MyFOX Spokane

Drug manufacturer agrees to $500 million penalty

Submitted by Fox First at Ten on May 13th

By ERIC TUCKERAssociated Press WASHINGTON (AP) - A subsidiary of India's largest pharmaceutical company has agreed to pay $500 million in fines and civil penalties for selling adulterated drugs and lying about tests of the medications to federal regulators, the U.S. Justice Department said

Report: Bloomberg private messages leaked online

Submitted by Fox First at Ten on May 13th

NEW YORK (AP) - A published report says financial data and news service Bloomberg accidently leaked online more than 10,000 private messages containing sensitive pricing data exchanged by users of Bloomberg's financial information service. The Financial Times reported Monday that the messages

Carney: White House counsel told of IRS review

Submitted by Fox First at Ten on May 13th

WASHINGTON (AP) - White House spokesman Jay Carney says the IRS inspector general notified the White House counsel's office during the week of April 22 that it was completing a review of the IRS office in Cincinnati that targeted conservative political groups for special examination. Carney

Stocks mixed as retail sales unexpectedly rise

Submitted by Fox First at Ten on May 13th

By STEVE ROTHWELLMarkets Writer NEW YORK (AP) - A record-breaking rally in stocks stalled Monday as investors assessed whether stock valuations were overstating the improvement in the economy. The latest positive data, out Monday, showed that Americans increased spending at retailers last month.

Big retailers back safety accord in Bangladesh

Submitted by Fox First at Ten on May 13th

NEW YORK (AP) - Four of the world's biggest retailers agreed to sign a pact to improve safety at garment factories in Bangladesh nearly three weeks after more than 1,100 workers died in a building collapse in the country. H&M, C&A, Primark and Inditex, owner of the Zara chain, on Monday

High court rules for Monsanto in patent case

Submitted by Fox First at Ten on May 13th

By JESSE J. HOLLANDAssociated Press WASHINGTON (AP) - The Supreme Court said Monday that an Indiana farmer violated Monsanto Co.'s patents on soybean seeds resistant to its weed-killer by growing the beans without buying new seeds from the corporation. The justices unanimously rejected the

US stock market falls after retail sales report

Submitted by Fox First at Ten on May 13th

NEW YORK (AP) - The U.S. stock market is falling in early trading to begin a week full of hints about the health of the nation's retailers. Americans boosted spending at retail stores in April, according to the Commerce Department, surprising some economists. Earlier declines on major markets

UK retailers relax rules on GM poultry feed

Submitted by Fox First at Ten on May 13th

LONDON (AP) - Three major British grocery chains have ended their bans on providing genetically modified feed to chickens. Sainsbury's, the Co-operative Group and Marks & Spencer cited short supplies of non-GM feed as the reason for the change. A Co-operative Group statement released Monday

Dell board committee seeks more info on Icahn plan

Submitted by Fox First at Ten on May 13th

By The Associated Press Dell board members say they need more details from investor Carl Icahn if he wants them to seriously consider his latest challenge to Michael Dell's $24.4 billion plan to take the computer maker private. Icahn and prominent Dell shareholder Southeastern Asset Management

Euro finance ministers to discuss Italy, Portugal

Submitted by Fox First at Ten on May 13th

BRUSSELS (AP) - European finance ministers are set to discuss on Monday the economic plans of Italy's new government and assess the outlook for bailed-out countries like Portugal, Greece and Cyprus. The finance chiefs of the 17 countries that use the euro were gathering in Brussels amid a