Business | MyFOX Spokane

ING in new deal with EU over state aid, punishment

Submitted by Fox First at Ten on November 19th

AMSTERDAM (AP) - ING Groep NV has agreed a deal with European regulators on when it will repay the remaining €3 billion ($3.8 billion) it still owes in state aid. The bank, which fell foul of EU laws when it was bailed out by the Dutch state in 2008, says it will repay the money, plus a 50 percent

SAS avoids bankruptcy after unions approve plan

Submitted by Fox First at Ten on November 19th

By JAN M. OLSENAssociated Press COPENHAGEN, Denmark (AP) - Scandinavia's flagship airline SAS averted imminent bankruptcy on Monday after all eight unions signed new collective agreements that will see jobs, salaries and pensions cut in the hope of restoring the company's

SKorea, China, Japan to start free trade talks

Submitted by Fox First at Ten on November 19th

By YOUKYUNG LEEAP Business Writer SEOUL, South Korea (AP) - South Korea, China and Japan will soon start talks for a free trade pact that will encompass three of the world's biggest economies, South Korea's trade minister said Monday. Bark Tae-ho said the decision to start talks will be

Kremlin critics: Stop ads on pro-Putin TV channel

Submitted by Fox First at Ten on November 19th

By MANSUR MIROVALEVAssociated Press MOSCOW (AP) - Russian opposition and human rights groups on Monday urged Western consumer products giants to stop "financing politically motivated persecution" by advertising on a Kremlin-friendly TV network known for its biased coverage of government critics

China's economy recovering but torrid growth over

Submitted by Fox First at Ten on November 19th

By JOE McDONALDAP Business Writer BEIJING (AP) - Zhang Hanzhong, who supplies locks for auto manufacturers, is part of a swath of China's economy that is lagging in a two-speed recovery. Business for retailers, hotels, photo studios and other service industries is picking up as China limps

Oil rises as Israel-Hamas fight continues

Submitted by Fox First at Ten on November 19th

By PABLO GORONDIAssociated Press The price of oil rose to $88 a barrel Monday as the conflict in Gaza between Israel and Hamas showed no signs of abating, raising concerns about Middle East crude supplies. By early afternoon in Europe, benchmark oil for December delivery was up $1.09 to $88.01

US budget hopes boost Asia stocks

Submitted by Fox First at Ten on November 19th

By PAMELA SAMPSONAP Business Writer BANGKOK (AP) - Asian stocks rose Tuesday as investors gained confidence that President Barack Obama and the U.S. Congress will reach a budget deal to avert a package of tax hikes and spending cuts that could throw the world's No. 1 economy into recession

GM opens new plant for Chinese budget brand Baojun

Submitted by Fox First at Ten on November 19th

By KELVIN CHANAP Business Writer HONG KONG (AP) - General Motors Co. and its local Chinese partners have launched a second plant to make cars for its local discount brand Baojun, ratcheting up the battle for customers at the fast-growing lower end of the world's biggest auto market. The

US budget hopes shore up markets

Submitted by Fox First at Ten on November 19th

By PAN PYLASAP Business Writer LONDON (AP) - Optimism over the progress of crucial U.S. budget talks combined with hopes that Greece will finally get its next batch of bailout cash to shore up markets Monday in spite of concerns over the fighting in the Middle East. The advance followed a

Oil prices rise little as Gaza fighting continues

Submitted by Fox First at Ten on November 19th

NEW YORK (AP) - Oil futures prices rose slightly in electronic trading Sunday night with the market apparently unaffected by fighting between Israel and Hamas. In early trading, January benchmark crude futures rose less than 1 percent, by 60 to 70 cents per barrel, over Friday's close of $86.92