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GM to cut 21,000 US factory jobs, shed Pontiac

April 26, 2009 3:45 pm | by TOM KRISHER - AP Auto Writer - Associated Press | News | Comments

DETROIT (AP) — General Motors Corp. could be majority owned by the federal government under a massive restructuring plan laid out Monday that will cut 21,000 U.S. factory jobs by next year and phase out the storied Pontiac brand.The plan, which includes an offer to swap roughly $27 billion in bond...

Survey: Gas prices hold steady in US

April 26, 2009 2:20 pm | by The Associated Press | News | Comments

CAMARILLO, Calif. (AP) — Gas prices in the U.S. are holding steady.That's according to the national Lundberg Survey of fuel prices released Sunday.The average price of regular grade gasoline was $2.05 a gallon on Friday, when the two-week survey was completed.That's less than a penny increase from...

Report: CityCenter construction strays from plan

April 26, 2009 2:15 pm | by The Associated Press | News | Comments

LAS VEGAS (AP) — A newspaper review of public records shows that the general contractor building the $8.7 billion CityCenter complex on the Las Vegas Strip has not resolved numerous construction discrepancies cited by inspectors.Officials for Perini Building Co. and MGM Mirage, one of the project's...

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Business group calls for energy cuts in buildings

April 26, 2009 2:04 pm | by STEPHEN SINGER - AP Manufacturing Writer - Associated Press | News | Comments

HARTFORD, Conn. (AP) — The chairman of United Technologies Corp. will join other executives Monday to urge governments and industry to adopt building codes that will boost energy efficiency in buildings worldwide.George David served as chief executive of United Technologies for 14 years until...

Airlines waive change fees amid swine flu outbreak

April 26, 2009 1:14 pm | by JEFF CARLTON - Associated Press Writer - Associated Press | News | Comments

FORT WORTH, Texas (AP) — Multiple airlines are waiving change fees for passengers flying through Mexico because of an outbreak of swine flu but have not canceled flights.Fort Worth, Texas-based American Airlines said Sunday it will waive its usual penalty for changing reservations for anyone...

Reactor at oldest US nuclear plant is shut down

April 26, 2009 12:29 pm | by The Associated Press | News | Comments

LACEY TOWNSHIP, N.J. (AP) — The operator of the nation's oldest nuclear power plant has manually shut down its reactor after equipment failed on one of its two transformers.Officials at the Oyster Creek Nuclear Generating Station in New Jersey say Saturday night's shutdown occurred without...

At meeting, Fed to weigh options to revive economy

April 26, 2009 12:23 pm | by JEANNINE AVERSA - AP Economics Writer - Associated Press | News | Comments

WASHINGTON (AP) — As the recession grinds on, Federal Reserve policymakers will open a two-day meeting Tuesday to make a fresh assessment of economic conditions, review the effectiveness of programs in place and weigh whether they need to expand or change them.Any policy decisions would come...

Swine flu fears prompt quarantine plans, pork bans

April 26, 2009 11:38 am | by FRANK JORDANS - Associated Press Writer - Associated Press | News | Comments

GENEVA (AP) — Canada became the third country to confirm human cases of swine flu Sunday as global health officials considered whether to raise the global pandemic alert level.Nations from New Zealand to Spain also reported suspected cases and some warned citizens against travel to North America...

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Wall Street on edge over earnings, banking sector, US

April 26, 2009 11:38 am | by IEVA M. AUGSTUMS - AP Business Writer - Associated Press | News | Comments

CHARLOTTE, N.C. (AP) — The wait for news about the government's stress tests of big banks and a crush of earnings reports are likely to keep Wall Street on edge this week.Investors whose burst of optimism sent stocks higher Friday will see if their bets — which came in part on some...

Summers: Fiat-Chrysler talks still up in the air

April 26, 2009 11:27 am | by The Associated Press | News | Comments

WASHINGTON (AP) — White House economic adviser Larry Summers said Sunday the Obama administration is holding out hope that Chrysler can stay out of bankruptcy court.Chrysler LLC is surviving on government loans and has until Thursday to work out a joint venture with Italian automaker Fiat Group...

Freighter crewman recounts struggle with pirates

April 26, 2009 11:22 am | by BILL BERGSTROM - Associated Press Writer - Associated Press | News | Comments

MERION, Pa. (AP) — Sailors have a short list of what to grab in an emergency.When the urgent long-short-long-short din of the Maersk Alabama's alarm bell woke third engineer John Cronan on April 8, he didn't hesitate."I grabbed a pocket knife and a flashlight, and I took that photo and put it in my...

Swine flu confirmed in NYC high school students

April 26, 2009 10:47 am | by KAREN MATTHEWS - Associated Press Writer - Associated Press | News | Comments

NEW YORK (AP) — New York City was dealing with a growing public health threat Sunday after tests confirmed that eight students at a private Catholic high school had contracted swine flu. Some of the school's students had visited Mexico on a spring break trip two weeks ago.New York officials...

OPEC, Asia, call for curbs on oil speculation

April 26, 2009 9:51 am | by TAREK EL-TABLAWY - AP Business Writer - Associated Press | News | Comments

CAIRO (AP) — OPEC and Asian energy officials called Sunday for new oil investments and tougher measures to combat speculation in crude markets that some have argued helped fuel last year's oil price spike.The call came during a one-day energy meeting in Tokyo to discuss volatility in the world oil...

At annual meetings, perks are out and anger is in

April 26, 2009 9:16 am | by MADLEN READ - AP Business Writer - Associated Press | News | Comments

NEW YORK (AP) — Just a few years ago, companies staging annual meetings brought in acts like Paul McCartney and Tony Bennett. At the very least, they offered snacks as CEOs boasted about big profits.This year, when stockholder Ram Bijapur decided to show up at the Hilton hotel for the Citigroup...

World Bank says poor countries risk calamity

April 26, 2009 8:06 am | by HARRY DUNPHY - Associated Press Writer - Associated Press | News | Comments

WASHINGTON (AP) — The global financial crisis could become "a human and development calamity" for many poor countries, the World Bank said, urging donor nations to speed delivery of money they have pledged and consider giving more.Developing countries, its main constituency, face "especially...

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