Business News
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Delta says frequent fliers saw different fares
MINNEAPOLIS (AP) — Delta Air Lines says it may have charged some frequent fliers higher fares than other customers for almost three weeks because of a computer glitch. Delta says it is unsure how many travelers paid higher fares because of the problem. Delta says the problem occurred after it upgraded the flight search engine on its website. The airline
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Dollar continues to rally on fears about Greece
NEW YORK (AP) — Worries that Greece will drop out of the euro currency union are pushing the dollar higher against most other currencies. Traders have been buying up the dollar, which is considered a safe haven currency, on growing fears about Greece. The dollar index, which compares the U.S. dollar against six other currencies, has rallied over 3 percent
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Shareholders sue JPMorgan over $2B trading loss
NEW YORK (AP) — Shareholders of JPMorgan Chase & Co. have filed two lawsuits against the nation's biggest bank, accusing it and its leaders of taking excessive risk and causing a monumental $2 billion trading loss. The company disclosed the loss last week, saying it resulted from a failed hedging strategy. The lawsuits filed on Wednesday in New York claim
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US housing starts rose in April
WASHINGTON (AP) — U.S. builders began work on more homes last month, evidence that the battered housing market is slowly healing. The Commerce Department says builders broke ground at a seasonally adjusted annual pace of 717,000 homes in April from March. That's 2.6 percent more than March's total, which was revised higher. Construction rose for both single-family homes and apartments.
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Facebook boosts size of IPO
NEW YORK (AP) — Facebook's owners now plan to sell 25 percent more shares in the company as investors clamor for shares in the year's hottest stock offering. Facebook says in a regulatory filing that it will now sell about 421 million shares. That's up from 337 million previously. That doesn't include more than 60 million additional shares that could
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Deere fiscal 2Q profit rises
MOLINE, Ill. (AP) — Deere is posting a 17 percent spike in profits for the second quarter is raising its outlook for the year, with farm receipts expected to hit historic heights. The company beat Wall Street expectations on net income and revenue, posting a profit of $1.06 billion, or $2.61 per share, up from $904 million, or $2.12 per
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Target's 1Q profits up 1.2 percent
NEW YORK (AP) — Target Corp. is reporting a 1.2 percent increase in first-quarter profit as the discount chain pulled in more shoppers with its food and trendy fashions. Target says that it earned $697 million, or $1.04 per share, in the quarter ended April 28. That compares with $689 million, or 99 cents per share, in the year-ago period.
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Report: Nokia loses cellphone top spot
HELSINKI (AP) — Nokia has been bumped off its 14-year top spot as the world's largest cellphone company by Samsung, according to a British research firm. Gartner said Wednesday that Samsung Electronics Co. sold 86.6 million cellphones in the first quarter, inching past Nokia Corp's sales of just over 83 million units. Apple Inc. sold 33 million iPhones, with a
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Buffett's firm buys GM stake, boosts IBM position
OMAHA, Neb. (AP) — Warren Buffett's company has revealed a number of changes in its U.S. stock portfolio, including boosting its holdings in Wal-Mart and IBM and adding a new stake of 10 million General Motors shares. But the documents Berkshire Hathaway Inc. filed with regulators Tuesday don't reveal everything Buffett and the company's two new investment managers have been