Business | MyFOX Spokane

Bernanke to testify again after warning on economy

Submitted by Fox First at Ten on July 17th

By MARTIN CRUTSINGERAP Economics Writer WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke will return to Capitol Hill on Wednesday, one day after sketching a bleak picture of the U.S. economy and warning it will darken further if Congress doesn't reach agreement soon to avert a budget

US homebuilder confidence vaults to 5-year high

Submitted by Fox First at Ten on July 17th

By ALEX VEIGAAP Real Estate Writer Confidence among U.S. homebuilders is swelling to a five-year high, with many now anticipating that sales of new homes will strengthen this year even as signs point to a slowing economy. The National Association of Home Builders/Wells Fargo builder sentiment

Opel names strategy chief Sedran as interim chief

Submitted by Fox First at Ten on July 17th

By DAVID McHUGHAP Business Writer FRANKFURT, Germany (AP) - General Motors' lossmaking Opel subsidiary has named restructuring expert Thomas Sedran as interim CEO while it looks for a permanent replacement for Karl-Friedrich Stracke, who abruptly resigned last week. Sedran, 47, joined Opel in

Nissan recalling 11,000 Jukes to fix rear seats

Submitted by Fox First at Ten on July 17th

DETROIT (AP) - Nissan is recalling about 11,000 Juke small SUVs to fix a problem with the rear seats. The company says a weak weld can cause the seat backs to come loose in a crash, increasing the risk of injury. The recall affects Jukes from the 2012 model year. Nissan says it has no reports of

Spanish emigration up sharply in 2012

Submitted by Fox First at Ten on July 17th

MADRID (AP) - The number of Spaniards leaving the recession-wracked country was up 44 percent in the first six months of 2012 compared with the same period last year, the National Statistics Institute said Tuesday. Current estimates show 40,625 Spaniards emigrated between January and the end of

US industrial production rose in June

Submitted by Fox First at Ten on July 17th

WASHINGTON (AP) - U.S. industrial production rose in June as factories made more cars, machines and business equipment, the Federal Reserve said Tuesday. Factory output recovered to levels reached earlier this spring but appears to be leveling off. Analysts say the U.S. manufacturing sector is

Cheaper gas keeps US consumer prices flat

Submitted by Fox First at Ten on July 17th

By CHRISTOPHER S. RUGABERAP Economics Writer WASHINGTON (AP) - Consumer prices were unchanged in June, held down by cheaper gas. Outside the volatile food and energy categories, inflation was mild. Weak economic growth is limiting the ability of companies to raise prices. The tame inflation was

Stocks rise; Mattel, Coke among earnings winners

Submitted by Fox First at Ten on July 17th

By MATTHEW CRAFTAP Business Writer NEW YORK (AP) - Stronger earnings from Mattel, Coca-Cola and other big companies lifted the Standard & Poor's 500 index on Tuesday for only the fourth day this month. Mattel jumped 9 percent, more than any other company in the S&P. The country's

J&J 2Q profit down by half on lower sales, charges

Submitted by Fox First at Ten on July 17th

By LINDA A. JOHNSONAP Business Writer Health care giant Johnson & Johnson, struggling with tough market conditions, ongoing manufacturing problems and other issues, lowered its profit forecast for the year after posting second-quarter net income that dropped by half due to a slew of

TD Ameritrade profit dips but beats forecast

Submitted by Fox First at Ten on July 17th

By JOSH FUNKAP Business Writer OMAHA, Neb. (AP) - Online brokerage TD Ameritrade's net income slipped 2 percent as trading slowed in its fiscal third quarter, but the company beat Wall Street expectations because expenses were down and investors entrusted the firm with more money. Ameritrade