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Team looking for Ohio train crash cause eyes rails

July 12, 2012 2:50 am | by The Associated Press | News | Comments

Investigators say a train that partly derailed and exploded in Columbus, Ohio, was traveling below the speed limit before the crash, and its operators noticed no problems with the track as they approached the curve where it happened.The National Transportation Safety Board is investigating what...

Airbus picks up steady flow of orders

July 12, 2012 2:50 am | by PAN PYLASAssociated Press | News | Comments

Airbus picked up a steady flow of orders at the Farnborough Airshow Thursday worth a potential $6.35 billion ahead of an expected big announcement from arch-rival Boeing.The four deals, if completed, take Airbus' total by the fourth day of the U.K. airshow to $16.9 billion.That's way down on...

Hyundai, Kia unions to stage 8-hour strikes

July 12, 2012 1:50 am | by The Associated Press | News | Comments

Unionized workers at Hyundai Motor Co. and its affiliate Kia Motors Corp. have voted to hold their first strikes in more than three years, demanding higher wages and fewer working hours.Labor unions at Hyundai and Kia say all of their factories in South Korea will come to a full stoppage for...

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France's PSA Peugeot-Citroen slashing 8,000 jobs

July 12, 2012 12:50 am | by The Associated Press | News | Comments

Struggling French carmaker PSA Peugeot-Citroen is slashing 8,000 jobs in France and closing an iconic site north of Paris.Union members said company management announced the job cuts and closure plan during a meeting with the works council. The restructuring plan includes the closure of its...

NTSB: Cause of Ohio train derailment sought

July 11, 2012 7:50 pm | by KANTELE FRANKO - Associated Press - Associated Press | News | Comments

National Transportation Safety Board investigators have begun searching for clues to the train derailment that caused spectacular explosions in Ohio's capital, but a preliminary report is a month away.NTSB board member Earl F. Weener said Wednesday night the agency has a 12-person team...

State says energy giant falsified $25M in claims

July 11, 2012 4:50 pm | by The Associated Press | News | Comments

Petroleum giant ConocoPhillips filed $25 million in false insurance claims over 14 years for cleanup of leaky underground storage tanks, a state lawsuit charged.The lawsuit filed Monday in 3rd District Court accused the Houston-based multinational company of double-dipping on 1,500 claims from...

IHS boosts annual guidance, buys software firm

July 11, 2012 2:50 pm | by The Associated Press | News | Comments

IHS Inc. raised its annual revenue guidance Wednesday as it announced the acquisition of search software firm Invention Machine.The global consulting and analytics company, based in Englewood, Colo., said earnings per share would not be affected because of the costs related to the $40 million...

Merck says osteoporosis drug worked in study

July 11, 2012 2:50 pm | by The Associated Press | News | Comments

WHITEHOUSE STATION, N.J. (AP) — Merck & Co. said Wednesday that it is ending a late-stage clinical trial of its osteoporosis drug odanacatib because there was clear evidence the experimental drug was working.Merck said it is ending the trial based on an analysis of early results by an independent...

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Coal foes warn of Northwest rail traffic spike

July 11, 2012 2:50 pm | by MATTHEW BROWN - Associated Press - Associated Press | News | Comments

A conservation group predicted that ambitious Asian export plans by U.S. coal mining companies could lead to a more than tenfold spike in coal trains through the Northwest.The Western Organization of Resource Councils said in a report released Wednesday that roughly 60 coal trains per day could...

NBC in talks to buy Microsoft stake in MSNBC site

July 11, 2012 2:50 pm | by The Associated Press | News | Comments

NBC News is negotiating to buy Microsoft's portion of MSNBC.com, potentially severing a joint venture that begin nearly 17 years ago.An NBC News spokeswoman said Wednesday by email that "conversations are taking place" but "there is no deal."Microsoft declined to comment.The deal would break up...

Beazer Homes prices notes offering

July 11, 2012 2:50 pm | by The Associated Press | News | Comments

Beazer Homes USA Inc. on Wednesday priced its offering of $300 million of senior secured notes, which are due in 2018, at par. The homebuilding company said this represents an increase of $25 million over the aggregate principal amount previously announced.The Atlanta-based company is selling...

PC sales fall by 6 pct to 11 pct in US during 2Q

July 11, 2012 2:50 pm | by The Associated Press | News | Comments

Personal computer sales in the U.S. sagged during the spring as shifting technology trends, upcoming product releases and a shaky economy dampened demand for the machines on the market.Separate reports released Wednesday by Gartner and IDC estimated the second-quarter decline ranged from 6...

Merger Dance: Rating American Airlines' options

July 11, 2012 1:50 pm | by SCOTT MAYEROWITZ - AP Airlines Writer - Associated Press | News | Comments

American Airlines is weighing various options for its future, but most analysts say the nation's No. 3 airline only has one viable choice: combine with No. 5 US Airways.American could leave bankruptcy protection as an independent. Or join forces with a much smaller airline such as JetBlue or...

Watson Pharma says FDA approves generic Arthrotec

July 11, 2012 1:50 pm | by The Associated Press | News | Comments

Watson Pharmaceuticals Inc. said Wednesday that the Food and Drug Administration approved its generic version of the osteoarthritis and rheumatoid arthritis drug Arthrotec.Arthrotec is marketed by G.D. Searle. It is used to treat symptoms of osteoarthritis and rheumatoid arthritis in patients...

ImmunoGen says it is planning stock offering

July 11, 2012 1:50 pm | by The Associated Press | News | Comments

Cancer drug developer ImmunoGen Inc. said Wednesday it is planning a new offering of stock.ImmunoGen said it has not determined how many shares it may sell or the price for the potential offering. Morgan Stanley and Jefferies & Co. will be the joint book-running managers for the proposed sale....

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