The latest headlines from The Associated Press
Money
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May 22, 2013 @ 4:03 pm
GM recalling Cadillac SUVs to tighten wheels
General Motors Co. is recalling more than 27,000 Cadillac SUVs worldwide because the wheels can fall off. Continue reading > -
May 22, 2013 @ 3:36 pm
Tesla uses stock, note sale to repay government
Tesla Motors, which makes a highly acclaimed $70,000 electric car, has paid off a startup loan from the U.S. government nine years early. Continue reading > -
May 22, 2013 @ 3:17 pm
Median CEO pay rises to $9.7 million in 2012
CEO pay has been going in one direction for the past three years: up. Continue reading > -
May 22, 2013 @ 3:06 pm
Stocks fall on news Fed weighed cutting stimulus
The Federal Reserve took financial markets for a ride Wednesday, pushing stock prices up in the morning then sending them down in the afternoon. Continue reading > -
May 22, 2013 @ 2:49 pm
How the Dow Jones industrial average fared
Stock indexes fell on Wall Street on fear the Federal Reserve could pull back from its stimulus programs soon. Continue reading > -
May 22, 2013 @ 2:46 pm
FDA panel backs experimental Merck insomnia drug
A federal panel of medical experts said that an experimental insomnia drug from Merck & Co. Inc. appears safe and effective, despite evidence from company trials that the pill can cause daytime sleepiness and difficulty driving. Continue reading > -
May 22, 2013 @ 2:35 pm
Penney secures $2.25B loan as it seeks turnaround
J.C. Penney Co. said Wednesday it has secured a $2.25 billion loan, $500 million more than it had expected, as it tries to stop a collapse in its sales. Continue reading > -
May 22, 2013 @ 2:32 pm
Summary Box: Stocks close lower on Fed fears
MIXED MESSAGES: Stocks surged in the early going after Fed chairman Ben Bernanke told Congress the central bank was unlikely to pull back from its stimulus programs soon. Then minutes from a Fed meeting were released that suggested other policymakers think a pullback is possible as early as next month, and stocks dropped. Continue reading > -
May 22, 2013 @ 2:23 pm
US Treasury bond market at a glance
Key barometers in the Treasury market late Wednesday, compared with late Tuesday. Price changes in the 10-year note and 30-year bond are per $100 invested: Prices Today Previous Session 10-year note _$1.00 +31.3 cents 30-year bond _$1.625 +78.1 cents Yields --- --- 1-month bill 0.03 0.01 3-month bill 0.04 0.03 6-month bill 0.08 0.08 2-year note 0.25 0.24 5-year note 0.90 0.82 10-year note 2.04 1.93 30-year bond 3.22 3.13 Inflation note 0.00 0.00 Federal Funds 0.09 0.10 Municipal Bonds (1) 4.15 4.14 ___ 1. Bond Buyer index of 40 actively traded municipal bonds. Continue reading > -
May 22, 2013 @ 2:22 pm
Fisher-Price moving, eliminating about 100 NY jobs
Toy maker Fisher-Price says it's moving or eliminating roughly 100 jobs from its New York operations as part of restructuring by parent company Mattel Inc. Continue reading > -
May 22, 2013 @ 2:17 pm
Target's 1Q profit drops 29 pct on weak sales
Target Corp. reported a 29 percent drop in first-quarter profit as unusually cool spring weather and financial pressures chilled customers' appetite for spending. Continue reading > -
May 22, 2013 @ 2:11 pm
Lowe's 1Q profit rises, but results miss Street
Lowe's said Wednesday that its first-quarter net income rose nearly 3 percent, but results fell short of expectations as rainy weather hurt spring gardening sales. Continue reading > -
May 22, 2013 @ 1:50 pm
A divided Fed wrestles with when to slow bond buys
The Federal Reserve is torn over when to slow its aggressive efforts to stimulate the economy. Continue reading > -
May 22, 2013 @ 1:18 pm
Figures on government spending and debt
Figures on government spending and debt (last six digits are eliminated). The government's fiscal year runs Oct. 1 through Sept. 30. Total public debt subject to limit May 21 16,699,396 Statutory debt limit 16,699,421 Total public debt outstanding May 21 16,737,283 Operating balance May 21 31,246 Interest fiscal year 2013 through April 147,814 Interest same period 2012 145,702 Deficit fiscal year 2013 through April 487,594 Deficit same period 2012 719,859 Receipts fiscal year 2013 through April 1,603,334 Receipts same period 2012 1,383,192 Outlays fiscal year 2013 through April 2,090,928 Outlays same period through April 2,103,050 Gold assets in May 11,041 Continue reading > -
May 22, 2013 @ 1:17 pm
Gold slips on speculation will Fed cut stimulus
Gold prices sank Wednesday as traders weighed the possibility that the Federal Reserve will start paring back its support for the economy in the coming months. Continue reading >












