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London Taxi's famed black cabs made in China
AP Photo
London Taxis are as British as bowler hats and Big Ben. But the latest models coming off this new assembly line are unlikely to ever touch an English road.
London Taxis are as British as bowler hats and Big Ben. But the latest models coming off this new assembly line are unlikely to ever touch an English road.
Rates on 30-year mortgages fell for a third straight week, dropping to the lowest level since mid-July.
The European Central Bank and the Bank of England left their key interest rates unchanged Thursday, reluctant to move them lower as rising prices offset the fear of weaker growth and recession.
MillerCoors LLC is facing a court fight in Ohio over its attempt to trim costs by cutting beer distributorships.
Many of the nation's retailers struggled with a sluggish back-to-school season, though Wal-Mart posted higher August sales Thursday as shoppers focused on buying essentials amid worries about high gas and food prices.
The U.S. service sector grew unexpectedly in August for the first time in three months as new orders improved and inflation moderated, a private trade group said Thursday.
Shares in Unilever jumped sharply Thursday after the maker of Dove soaps, Axe deodorants and Ben & Jerry's ice cream announced it had hired a popular executive from its biggest European rival, Nestle SA, to become its new chief executive.
The number of newly laid off workers seeking unemployment benefits jumped unexpectedly last week, the government said Thursday, reversing three weeks of declines.
Americans' productivity soared in the spring while labor costs declined, two welcome outcomes that should relieve concerns that inflation is getting out of hand.
Discount retailer Target Corp. said Thursday that August same-store sales fell 2.1 percent as consumers shopped cautiously, mainly for essentials like food.
BP PLC and its billionaire Russian partners in the joint venture TNK-BP have agreed on a deal that forces out its embattled CEO and signals an end to a bitter struggle for control of the Russian-British company, officials said Thursday.
Get ready for another hike in copays and deductibles. A survey being released Thursday by the Mercer consulting firm found 59 percent of companies intend to keep down rising health care costs in 2009 by raising workers' deductibles, copays or out-of-pocket spending limits.
The Bank of England has kept official interest rates unchanged at 5 percent at its monthly rate-setting meeting despite a looming domestic recession.
Wall Street headed for a lower open Thursday with higher oil prices, the release of August retail sales reports and pending economic data keeping investors on the sidelines.
A former chief executive of construction firm KBR Inc. has pleaded guilty to federal bribery charges in connection with the company's natural gas operations in Nigeria from 1995 to 2004.
The top business news from The Associated Press for the morning of Thursday, Sept. 4, 2008:
Oil prices were steady Thursday in Asia above $109 a barrel as investors waited for a weekly U.S. crude inventory report for evidence that slowing economic growth has cut demand.
Boeing Co. will serve as consultant to Mitsubishi Heavy Industries for its mid-sized regional jet - the first "made in Japan" passenger aircraft in three decades, the Japanese machinery maker said Thursday.
Boeing Co. aircraft assembly workers voted overwhelmingly to strike for the second time in three years but union leaders agreed to hold off on the walkout for 48 hours at the request of Washington Gov. Chris Gregoire and a federal mediator.
Montana has lost its federal disease-free status for brucellosis, triggering mandatory testing of cattle being shipped out of state.
Argentina's Senate approved the nationalization of Aerolineas Argentinas and its subsidiary on Wednesday, moving to return the financially troubled Spanish-owned airlines to state hands.
Shares of Lehman Brothers Holdings Inc. rose Wednesday as investors weighed reports that the embattled investment bank might find a fresh source of capital.
Get ready for another hike in copays and deductibles.
The pilots of a Spanair SA plane that crashed last month in Madrid, killing 154 people, failed to extend wing flaps that are needed to give the aircraft enough lift for takeoff, according to a person familiar with the investigation.
Storm-ravaged homeowners in the path of Hurricane Gustav will file an estimated 175,000 wind- and flood-damage claims with insurance payouts likely to top $5 billion, the Consumer Federation of America reported Wednesday.
Nearly every major automaker saw its U.S. sales drop in August, but many are seeing signs that the worst slump in recent history may have bottomed out.
Lender GMAC Financial Services said Wednesday it will close all of its 200 retail offices and lay off about 5,000 employees as part of plan to reduce its mortgage lending and servicing because of the housing market downturn.
GOOD NEWS: A limited amount of oil and gas production has been restarted in the Gulf of Mexico with growing evidence that the nation's energy complex avoided a disaster in Hurricane Gustav. Damage also appeared limited at the crucial Louisiana Offshore Oil Port, which handles about 12 percent of the nation's crude imports.
Hovnanian Enterprises Inc. said Wednesday its fiscal third-quarter loss more than doubled from a year ago as the homebuilder suffered steep declines in new home contracts and hefty markdowns on land values.
A federal grand jury has issued new indictments against two part-owners of 2007 Horse of the Year Curlin.
