Business | MyFOX Spokane

Former bank CEO, vice presidents indicted in Va.

Submitted by Fox First at Ten on July 12th

By BROCK VERGAKISAssociated Press NORFOLK, Va. (AP) - The former chief executive of the Bank of the Commonwealth and three former vice presidents have been indicted by a federal grand jury on charges that they conspired to commit bank fraud. The Bank of the Commonwealth opened in 1971 and was

485,000 high chairs recalled after injury reports

Submitted by Fox First at Ten on July 12th

WASHINGTON (AP) - More than 485,000 Chico Polly high chairs are being recalled after a design flaw led to children getting cuts and bruises. Importer Artsana USA Inc. knows of 21 children getting injured from falling against pegs on the back legs of the chairs, which are meant to store the tray.

US 30-year mortgage rate drops to record 3.56 pct.

Submitted by Fox First at Ten on July 12th

By MARCY GORDONAP Business Writer WASHINGTON (AP) - Average U.S. rates on fixed mortgages fell again to record lows, giving would-be buyers more incentive to brave the housing market. Mortgage buyer Freddie Mac says the average rate on the 30-year loan fell to 3.56 percent. That's down from 3

All eyes on JPMorgan as banks report earnings

Submitted by Fox First at Ten on July 12th

By PALLAVI GOGOIAP Business Writer NEW YORK (AP) - It's been a scandal-filled few months for banks. JPMorgan Chase revealed a $2 billion trading loss, triggering an investigation by the government and hearings in Congress. Then the large banks were implicated in a global dust-up over interest

Data firm: Global spending on drugs slows to 2016

Submitted by Fox First at Ten on July 12th

By LINDA A. JOHNSONAP Business Writer TRENTON, N.J. (AP) - Growth in global spending on medications will slow markedly over the next four years due to a slew of new low-cost generic drugs coming to pharmacies in the U.S. and other developed countries, along with slower increases in what those

Buffett says general economy slowing this summer

Submitted by Fox First at Ten on July 12th

By JOSH FUNKAP Business Writer OMAHA, Neb. (AP) - Billionaire investor Warren Buffett said Thursday that U.S. economic growth has slowed in the last two months as fears about Europe's debt woes mounted. Buffett's comments during an interview Thursday on the cable TV network CNBC contrast

French Total wins gas drilling tender

Submitted by Fox First at Ten on July 12th

By French Total wins tender for gas drilling in Bulgaria SOFIA, Bulgaria (AP) - Bulgaria's government says it has chosen French oil company Total to explore a gas field off the country's Black Sea coast. Energy Minister Delyan Dobrev said Thursday that Total won the tender to carry out

Boeing claws back ground lost to Airbus

Submitted by Fox First at Ten on July 12th

By PAN PYLAS FARNBOROUGH, England (AP) - Boeing beat Airbus in the aircraft order stakes at this year's Farnborough Airshow, booking potential deals worth more than double the size of its European archrival. Though the highlight of its week was unveiled Thursday in Chicago, where it announced

Hyundai, Kia unions to stage 8-hour strikes

Submitted by Fox First at Ten on July 12th

SEOUL, South Korea (AP) - Unionized workers at Hyundai Motor Co. and its affiliate Kia Motors Corp. have voted to hold their first strikes in more than three years, demanding higher wages and fewer working hours. Labor unions at Hyundai and Kia say all of their factories in South Korea will come to

UK customers of O2 hit by outage

Submitted by Fox First at Ten on July 12th

LONDON (AP) - British mobile phone company O2 said Thursday that its 2G and 3G services had been restored following a breakdown which affected some customers for 24 hours. The company said it had restored by early afternoon, after problems blighted its network starting Wednesday. "Our tests show