Business | MyFOX Spokane

Treasury yields near record low on retail report

Submitted by Fox First at Ten on July 16th

By The Associated Press NEW YORK (AP) - Treasury yields fell to near record lows Monday after a disappointing retail sales report sent traders out of stocks and into the relative safety of U.S. government debt. The yield on the benchmark 10-year Treasury note dropped to 1.46 percent from 1.49

Gannett reports lower 2Q net income

Submitted by Fox First at Ten on July 16th

NEW YORK (AP) - Gannett Co. reported a 21 percent drop in net income for the second quarter Monday, but the media company's earnings excluding one-time expenses beat Wall Street's expectations, sending its stock higher. The company reported earnings of $119.9 million, or 51 cents per share

Dollar falls on weak retail sales data

Submitted by Fox First at Ten on July 16th

NEW YORK (AP) - The dollar fell against most major currencies Monday after the government reported that Americans spent less last month. The Commerce Department said retail sales fell 0.5 percent in June from May. It was the third straight monthly drop, which worried investors because it's the

US wins dispute with China over payment services

Submitted by Fox First at Ten on July 16th

By CHRISTOPHER S. RUGABERAP Economics Writer WASHINGTON (AP) - The United States has won a trade dispute with China over that country's treatment of foreign companies that process credit card payments and other electronic transactions. U.S. officials said Monday that the ruling by the Geneva-

FDA approves first pill to help prevent HIV

Submitted by Fox First at Ten on July 16th

By MATTHEW PERRONEAP Health Writer WASHINGTON (AP) - The Food and Drug Administration on Monday approved the first drug shown to reduce the risk of HIV infection, the latest milestone in the 30-year battle against the virus that causes AIDS. The agency approved Gilead Sciences' pill Truvada

Consumer bureau to police credit reporting bureaus

Submitted by Fox First at Ten on July 16th

By The Associated Press NEW YORK (AP) - The companies that determine Americans' credit scores are about to come under scrutiny by the country's new consumer watchdog. The Consumer Financial Protection Bureau said Monday that it will start supervising the 30 largest firms that make up 94

Stephen Covey, '7 Habits' author, dies at 79

Submitted by Fox First at Ten on July 16th

By BRIAN SKOLOFF and MICHELLE RINDELSAssociated Press SALT LAKE CITY (AP) - Considered a pioneer in the self-help genre aimed at helping readers become more productive in their lives, author Stephen R. Covey had an enormous impact on both the corporate world and the personal lives of millions.

Former Barclays exec admits false LIBOR submission

Submitted by Fox First at Ten on July 16th

By ROBERT BARRAssociated Press LONDON (AP) - A former top Barclays executive admitted ordering staff to submit false interest rates during the credit crisis in 2008 because he believed his action had been sanctioned by the Bank of England. Jerry del Missier told the House of Commons Treasury

News Summary: Shippers face low Miss. River

Submitted by Fox First at Ten on July 16th

By The Associated Press LOW WATER: A year after the Mississippi River swelled to near-historic levels, the river's southern half is so low that barges have run aground and operators have been forced to lighten their loads. BLAME THE WEATHER: One reason for the difference is a lack of rainfall

Oil price rises on stimulus hopes

Submitted by Fox First at Ten on July 16th

By CHRIS KAHNAP Energy Writer NEW YORK (AP) - Oil prices climbed for a fourth day on hopes that the Federal Reserve will take additional steps to prop up the economy. Benchmark U.S. crude on Monday rose $1.33 to end at $88.43 per barrel in New York, while Brent crude rose by $1.95 to finish at $