Business | MyFOX Spokane

Another tough quarter for once-mighty Goldman

Submitted by Fox First at Ten on July 17th

By PALLAVI GOGOIAP Business Writer NEW YORK (AP) - Another tough quarter, another reminder for Goldman Sachs that it's not just its reputation that's under attack. The once-mighty investment bank's revenue and earnings continue to decline even as it has resorted to massive job cuts

China's premier promises job creation efforts

Submitted by Fox First at Ten on July 17th

By JOE McDONALDAP Business Writer BEIJING (AP) - Premier Wen Jiabao said Tuesday China's employment situation "will become more complex and severe" and promised to generate jobs, according to a Cabinet statement, adding to suggestions Beijing might launch new stimulus efforts. Speaking at a

Barbie, Monster High push Mattel 2Q profit up

Submitted by Fox First at Ten on July 17th

By MAE ANDERSON and MICHELLE CHAPMANAssociated Press NEW YORK (AP) - It was a doll of a quarter for Mattel. Demand for doll brands including Barbie, American Girl and Monster High, coupled with lower sales costs and advertising expenses, helped the biggest U.S. toy maker's net income rise 20

Alcatel-Lucent warns on earnings amid weak economy

Submitted by Fox First at Ten on July 17th

PARIS (AP) - Alcatel-Lucent says it expects to post an adjusted operating loss of €40 million ($49 million) for the second quarter when it announces its earnings next week. The telecommunications equipment maker says in a statement Tuesday that its revenue for the April-to-June quarter should be

German investor optimism drops unexpectedly

Submitted by Fox First at Ten on July 17th

FRANKFURT, Germany (AP) - A key measure of German investor confidence fell unexpectedly in July in another sign that the eurozone financial crisis is weighing on Europe's largest economy. The ZEW institute said Tuesday its index fell for the third month in a row to minus 19.6 points from minus

Spain's royals take pay cuts in austerity drive

Submitted by Fox First at Ten on July 17th

By DANIEL WOOLLS and EMILIO MORENATTI MADRID (AP) - Spain's king and crown prince are taking pay cuts as part of the latest round of austerity measures meted out by the country's government as it attempts to control its deficit during a recession, the Royal Palace said Tuesday. The

Bernanke could signal Fed's next step in testimony

Submitted by Fox First at Ten on July 17th

By PAUL WISEMANAP Economics Writer WASHINGTON (AP) - Chairman Ben Bernanke could offer some clues about whether the Federal Reserve is poised to take another step to jolt the sluggish U.S. economy when he appears before Congress this week. Bernanke will give his semiannual report

News Summary: Report cites lax controls at HSBC

Submitted by Fox First at Ten on July 17th

By The Associated Press LAX CONTROLS AT BIG BANK: Europe's largest bank, HSBC, had lax controls that allowed Mexican drug cartels to launder billions of dollars through its U.S. operations, a Senate investigation found. U.S. REGULATORS ALSO FAULTED: An extensive report on U.K.-based HSBC

New Zealand mine fire traps 15; rescuers on way

Submitted by Fox First at Ten on July 17th

By NICK PERRYAssociated Press WELLINGTON, New Zealand - Mine officials say rescuers are on their way to the last 15 miners trapped underground in a New Zealand gold mine following a fire. A truck engine caught fire early Tuesday at the mine in the North Island town of Waihi. Mine officials said

Earnings Preview: AutoNation Inc.

Submitted by Fox First at Ten on July 17th

By MICHAEL FELBERBAUMAP Business Writer RICHMOND, Va. (AP) - AutoNation Inc., the nation's largest car and truck retailer, is expected to report higher profit and revenue when it releases its second-quarter results before the stock markets open Thursday. WHAT TO WATCH FOR: Whether the Fort