Business
GAO says airline merger would reduce competition
A government analyst says the merger of American Airlines and US Airways would reduce competition on more than 1,600 routes traveled by more than 53 million passengers. A researcher for the Government Accountability Office said Wednesday that the loss of competition would be greater than occurred in the 2010 merger ...
Fed sees lower US unemployment, more growth
The Federal Reserve sketched a slightly brighter picture of the U.S. economy this year and next, a sign it is moving closer to slowing its bond-buying program. The Fed now predicts unemployment will fall to 7.2 percent or 7.3 percent at the end of 2013 from 7.6 percent now. It ...
UK banking commission urges better standards
British bankers could soon be facing harsher penalties for behaving badly. After a year which has seen major scandals involving rate-rigging, money-laundering and rogue-trading rock the UK's financial industry, an influential parliamentary committee recommended Wednesday that senior bankers should be held more accountable for their bank's actions. One measure, it ...
Oil down slightly as Fed signal easing of stimulus
The price of oil fell slightly Wednesday as the Federal Reserve indicated it's closer to easing up on economy boosting measures that have been a boon for commodities. Oil swung in a range of about $1 after the Fed delivered a mixed message: The central bank said it would continue ...
Stocks slide as Fed says bond purchases could slow
Stocks are closing sharply lower and bond yields are rising after Fed Chairman Ben Bernanke said the central bank could slow its massive bond purchases this year. The Dow Jones industrial average dropped 206 points, or 1.4 percent, to 15,112. It was the Dow's seventh straight move of 100 points ...
Pruitt: DOJ broke rules in phone records seizure
The Justice Department violated its own rules when it secretly seized records for thousands of phone calls to and from journalists for The Associated Press as part of a leak investigation, the head of the company said Wednesday. AP President and CEO Gary Pruitt told a luncheon gathering of journalists ...
Banks fall short in helping struggling homeowners
Homeowners trying to avoid foreclosure must wait too long for their loan modification applications to be reviewed by some of the nation's top mortgage servicers, according to a report released Wednesday. Such delays can plunge borrowers deeper in debt. Joseph A. Smith Jr., the independent monitor of last year's national ...
Unmanned aircraft struggle to shed 'drone' image
Unmanned aircraft have helped rescue stranded hikers, worked to contain wildfires and gathered data at nuclear accidents. One helped a Russian tanker find its way through Arctic ice to bring oil to a stranded Alaskan community. These remote-controlled planes have many more potential peacetime uses. But unmanned aircraft have an ...
IMF calls for urgent steps on Spain unemployment
Spain faces the prospect of high unemployment and sluggish growth lasting years unless the country and Europe take "urgent action" to slash the nation's crippling 27 percent unemployment rate and free frozen credit to businesses so they can expand, the International Monetary Fund said Wednesday. A report issued by the ...
Diverted United 787 passengers resume Tokyo trip
Passengers from a United Airlines Denver-to-Tokyo flight that diverted to Seattle when the Boeing 787 had an oil filter issue resumed their trip Wednesday, a spokeswoman said. The airline put about 200 passengers in hotels Tuesday night and they took off from Seattle-Tacoma International Airport Wednesday morning on another 787, ...
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