The latest news on business
NEW YORK (AP) — LightSquared Inc., which hoped to create an independent wireless broadband network in the U.S., filed for bankruptcy protection on Monday.
NEW YORK (AP) — The price of oil is down slightly as Europe managed to avoid falling into recession thanks to slight economic growth in Germany.
DETROIT (AP) — The U.S. government is hoping that Monday's bankruptcy filing by Ally Financial Inc.'s troubled mortgage business will help the company repay its government bailout faster.
WASHINGTON (AP) — Republican Sen. John McCain called for the Obama administration to ramp up its free trade agenda in Asia and suspend U.S. economic sanctions on Myanmar, although retain an arms embargo.
NEW YORK (AP) — The Coca-Cola Co. is trying mid-calorie sodas again with its Sprite and Fanta.
BRUSSELS (AP) — Leading European Union finance officials have pleaded with Greece not to renege on its bailout terms and to stay the course of its painful austerity program to prevent even worse economic hardship.
ABOARD AIR FORCE ONE (AP) — The White House says a $2 billion trading blunder by JPMorgan Chase shows the continued need for rules that protect the taxpayer when Wall Street makes mistakes.
HOUSTON (AP) — Francesca's Holdings Corp. said Monday that it fired its chief financial officer, saying that he improperly communicated company information through social media.
MADRID (AP) — Spain managed to raise €2.9 billion ($3.8 billion) in a short-term bond auction on Monday, but concerns over the future of the euro currency union pushed investors to demand higher interest rates to lend the money and caused the Madrid stock market to plummet.
TOKYO (AP) — Canon Inc. is moving toward fully automating digital camera production in an effort to cut costs — a key change being played out across Japan, a world leader in robotics.