Business News
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Union says 500 layoffs averted at American
DALLAS (AP) — The flight attendants' union says that because of job-sharing and other steps, American Airlines won't have to furlough 500 workers this spring. American said two weeks ago that it planned to cut 500 flight attendants because it's flying less than it did a year ago. The Association of Professional Flight Attendants said Wednesday that the furloughs won't
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Honda recalling some vans to fix rear doors
DETROIT (AP) — Honda is recalling nearly 46,000 Odyssey minivans because the rear doors can fall on people unexpectedly, and have on at least two occasions. The problem affects minivans from the 2008 and 2009 model years that have power lift gates. The National Highway Traffic Safety Administration says on its website that gas can leak out of the struts
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T-Mobile asks FCC to block Verizon-cable deal
NEW YORK (AP) — T-Mobile USA, which just had its acquisition by AT&T blocked by regulators, is now urging the federal government to block another deal in the wireless world: Verizon's planned purchase spectrum from cable companies for $3.6 billion. In a filing, T-Mobile USA says the Federal Communications Commission should stop the deal between Verizon, Comcast Corp., Time Warner
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Company sues Apple over iPad name in Shanghai
SHANGHAI (AP) — Apple Inc. defended its right to use the iPad trademark in China in a heated court hearing Wednesday that pitted the electronics giant against a struggling Chinese electronics company that denies having sold the mainland China rights to the popular tablet computer's name. Shenzhen Proview Technology's lawyer Xie Xianghui argued that the sale of the iPad trademark
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Dollar Tree profit up on higher sales
RICHMOND, Va. (AP) — Dollar Tree says its net income increased more than 15 percent in the fourth quarter as consumers spent more at the discount retailer. The Chesapeake-based company said Wednesday that it earned $187.9 million, or $1.60 per share, for the period ended Jan. 29th. That's up from $162.5 million, or $1.29 per share, a year ago. Dollar
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Johnson & Johnson CEO retiring in April
NEW BRUNSWICK, N.J. (AP) — Johnson & Johnson's longtime CEO, Bill Weldon, is retiring this April, following an embarrassing string of product recalls that has stretched for more than two years, costing the health care giant hundreds of millions of dollars and consumer trust. The maker of Band-Aids and biotech drugs says Weldon will remain chairman of the board for
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Cheesecake Factory profit climbs
CALABASAS HILLS, Calif. (AP) — The Cheesecake Factory Inc. said Tuesday its profit jumped 37 percent in the fiscal fourth quarter, aided by an extra week of business and better sales at both its namesake and Grand Lux Cafe restaurant chains. Cheesecake Factory said its profit grew to $29.9 million, or 54 cents per share, in the quarter ended Jan.
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Ford to add $3.8 billion to pension plans
DETROIT (AP) — Ford Motor Co. says it will pump $3.8 billion into its global pension plans this year as it tries to get them closer to fully funding their obligations. The company also says that it has raised the annual pay for its 16 directors by 25 percent to $250,000. The disclosures came in Ford's annual report filed Tuesday
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Treasury to release corporate tax plan
WASHINGTON (AP) — A senior administration official says that the Treasury Department plans to release information about its forthcoming plan to overhaul the corporate tax system on Wednesday. Administration officials including Treasury Secretary Timothy Geithner have been saying for some time that they would soon release broad principles about its plan. The top corporate tax rate is 35 percent, second
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Dow crosses 13,000, then slips back
NEW YORK (AP) — The Dow has finished the day back below the 13,000 mark, after crossing that threshold for the first time in nearly four years. The blue-chip index hit 13,000 a little before noon, and then dropped back, reclaiming the level twice in early afternoon. But the index gave up most of its gains to finish just 16