Category: Business

Obama announces new steps to curb gun violence

By DARLENE SUPERVILLE Associated Press (WASHINGTON, AP) — President Barack Obama announced new steps Friday to help curb gun violence, including by identifying the requirements that “smart guns” would have to meet for law enforcement agencies to buy and use them as well as sharing mental health records with the federal background check system. Smart guns use… Read more »

McDonald’s testing McNugget recipe without preservatives

(NEW YORK, AP) — McDonald’s says it is testing Chicken McNuggets with no artificial preservatives as it works to revive its U.S. business. The world’s biggest hamburger chain says it began testing the new recipe in about 140 stores in Oregon and Washington in March. It’s the latest move by McDonald’s to step up the quality of… Read more »

H&R Block cuts 250 jobs, citing disappointing tax season

(KANSAS CITY, Mo., AP) — H&R Block says it’s laying off 250 workers, citing a disappointing tax season. The Kansas City Star (http://bit.ly/1Qz7yQQ ) reports the downsizing announced Tuesday by the Kansas City, Missouri-based company amounts to 12.6 percent of its workforce. H&R Block said it handled roughly 19.6 million tax returns in the just-completed tax… Read more »

FBI head suggests agency paid more than $1M to access iPhone

(WASHINGTON, AP) — FBI Director James Comey has hinted that the FBI paid more than $1 million to break into the locked iPhone used by one of the San Bernardino attackers. At an Aspen Security Forum event in London on Thursday, Comey said the FBI had paid an unidentified third-party more money than he’ll earn in his… Read more »

Dutch court quashes $50 billion Yukos shareholders’ award

By MIKE CORDER Associated Press (THE HAGUE, Netherlands, AP) — A Dutch court on Wednesday quashed a $50 billion award Russia had been ordered to pay the former majority shareholders of Yukos, a major win for Moscow in the high-stakes dispute over the dismantling of what was once Russia’s largest oil producer. The former shareholders immediately vowed… Read more »

Dutch police crack encrypted communications network

(THE HAGUE, Netherlands, AP) — Dutch police and prosecutors say they have taken down an encrypted communications network believed to have been used by criminals in the Netherlands and possibly overseas. Prosecutors say in a statement that they arrested a 36-year-old man Tuesday in the eastern city of Nijmegen who is suspected of money laundering. He is… Read more »

US stocks slip as oil prices skid ahead of OPEC meeting

By MARLEY JAY Associated Press (NEW YORK, AP) — U.S. stocks are taking small losses Friday morning as energy companies are slipping with the price of oil. Citigroup became the latest bank to report weak but better-than-expected results for the first quarter. MORNING RUSH: The Dow Jones industrial average fell 28 points, or 0.2 percent, to 17,898… Read more »

Obama backs effort to give consumers options on cable boxes

By KEVIN FREKING Asssociated Press (WASHINGTON, AP) — President Barack Obama threw his weight Friday behind an effort to give consumers more choice when it comes to the cable boxes that control which television channels they watch. Most TV subscribers lease boxes from their cable service provider. The Federal Communications Commission is pursuing new regulations giving consumers… Read more »

EU approves anti-terror plan to collect air passenger info

By LORNE COOK Associated Press (BRUSSELS, AP) — European Union lawmakers approved Thursday a scheme to share airline passenger information that nations hope to use to track foreign fighters travelling to and from conflict areas like Syria and who might pose a danger in Europe. The move ends years of wrangling over how to balance security needs… Read more »

Regulators: 5 big banks get failing grades for crisis plans

By MARCY GORDON Associated Press (WASHINGTON, AP) — Federal regulators say five of the biggest banks in the U.S. failed to develop adequate plans for how they might reshape themselves in case of bankruptcy, which could leave them unable to survive without another taxpayer bailout. JPMorgan Chase, Bank of America, Wells Fargo, Bank of New York Mellon… Read more »