Business | MyFOX Spokane

Green Mountain Coffee names Coke exec as new CEO

Submitted by Fox First at Ten on November 20th

WATERBURY, Vt. (AP) - Green Mountain Coffee Roasters Inc. has picked a new CEO, Coca-Cola executive Brian Kelley, as the coffee company deals with slowing sales growth. Kelley, 51, will also become president and join the board, effective Dec. 3. Shares added $1.66, or 6 percent, to $28.99 in

VW recalls about 2,500 Beetles to fix air bags

Submitted by Fox First at Ten on November 20th

By The Associated Press DETROIT (AP) - Volkswagen is recalling about 2,500 Beetles because the front passenger seat air bag could inflate and injure a small child. The recall includes 2012 and 2013 Beetles with leather sport seats. If the seat gets wet, the module that's supposed to detect

US new home starts jump to fastest pace in 4 years

Submitted by Fox First at Ten on November 20th

By CHRISTOPHER S. RUGABERAP Economics Writer WASHINGTON (AP) - U.S. builders started construction last month on the most homes and apartments since July 2008, more evidence that the housing recovery is gaining momentum. The Commerce Department said Tuesday that builders broke ground on homes in

US futures reverse course as HP takes $8.8B hit

Submitted by Fox First at Ten on November 20th

NEW YORK (AP) - Stock futures grew choppy Tuesday after Hewlett-Packard revealed that it was the victim of a massive fraud related to an acquisition and took a huge hit to its latest quarterly earnings. After a mostly positive morning, the Dow Jones industrial futures fell 18 points to 12,720. The

Best Buy reports 3rd-quarter loss

Submitted by Fox First at Ten on November 20th

By MAE ANDERSONAP Retail Writer NEW YORK (AP) - Struggling Best Buy Co. reported another dismal quarter on Tuesday, recording a third quarter loss and continued sales slump just as the crucial holiday season revs up. Adjusted for restructuring charges, it earned 3 cents per share, well below

Carl Icahn takes bigger slice of Chesapeake Energy

Submitted by Fox First at Ten on November 20th

NEW YORK (AP) - Activist investor Carl Icahn bumped up his stake in Chesapeake Energy, a company where he has already pushed for sweeping changes in governance. Shares rose 1.6 percent Tuesday before the opening bell. A regulatory filing shows Icahn now owns 8.98 percent, compared with a 7.6

UBS rogue trader Kweku Adoboli guilty of fraud

Submitted by Fox First at Ten on November 20th

By ROBERT BARRAssociated Press LONDON (AP) - A rogue trader who lost $2.2 billion in bad deals at Swiss bank UBS was sentenced to 7 years in prison Tuesday after being convicted in what prosecutors called the biggest fraud case in U.K. banking history. Ghanaian-born Kweku Adoboli, 32, exceeded

Glencore shareholders back Xstrata merger

Submitted by Fox First at Ten on November 20th

GENEVA (AP) - Shareholders in Glencore International PLC, one of the world's biggest commodity traders, have voted to approve a merger with Anglo-Swiss mining company Xstrata PLC. The company says the deal won approval from 99 percent of Glencore's investors. Xstrata shareholders will vote

GE buys 2,000 Ford plug-in hybrids for fleet

Submitted by Fox First at Ten on November 20th

DEARBORN, Mich. (AP) - GE is buying 2,000 plug-in hybrid cars from Ford for its corporate fleet. Ford and GE announced the purchase of the C-Max Energi hybrid Tuesday. GE has set a goal of converting half its fleet to alternative energy vehicles. With the Ford purchase, GE now has 5,000 alternative

Egypt arresting kid protesters, rights group says

Submitted by Fox First at Ten on November 20th

By MAGGIE MICHAELAssociated Press CAIRO (AP) - Egyptian authorities arrested more than 300 children during protests in Cairo over the past year, beating and torturing some and trying many as adults, a leading international rights group said Tuesday. Human Rights Watch said in a report that the