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Obama nominates Comey to head
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By NEDRA PICKLER - AP - 5 mins ago
WASHINGTON (AP) — As the FBI grapples with scrutiny over government surveillance, President Barack Obama on Friday moved to turn the agency over to James Comey, a top Bush administration lawyer best known for defiantly refusing to go along with White House demands on warrantless wiretapping nearly a decade ago. ( full story )
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AP - 6 mins ago
NEW YORK (AP) — Shares of almost every major gold miner and other companies in the sector hit new annual lows before recovering Friday as a plunge in gold prices leveled off. ( full story )
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By JOSHUA FREED - AP - 10 mins ago
Traders decided that the stock market has suffered enough, at least for now. ( full story )
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By The Associated Press - AP - 15 mins ago
TAKING A BREAK: Small gains for U.S. stocks halted a two-day selloff caused by worries about the eventual end of the Federal Reserve's economic stimulus program. ( full story )
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By RUSS BYNUM - AP - 15 mins ago
SAVANNAH, Ga. (AP) — The Food Network said Friday it's dumping Paula Deen, barely an hour after the celebrity cook posted a videotaped apology online begging forgiveness from fans and critics troubled by her admission to having used racial slurs in the past. ( full story )
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By The Associated Press - AP - 17 mins ago
Stocks rose after investors decided that the sell-off earlier in the week may have been overdone. The Federal Reserve on Wednesday gave its most detailed preview yet of how it will wind down its monthly bond purchases. That program has made borrowing cheap and encouraged investors to buy stocks. So when the Fed hinted that it might end next the program by the middle of year, it prompted a two-day drop on the stock market. By Friday, investors were ready to buy again. ( full story )
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By JUAN A. LOZANO - AP - 20 mins ago
HOUSTON (AP) — One of the country's most notorious financial scandals came to a protracted legal conclusion Friday as ex-Enron Corp. CEO Jeffrey Skilling — already in prison for his role in the once-mighty energy giant's collapse — was resentenced to 14 years as part of a court-ordered reduction and a separate agreement with prosecutors. ( full story )
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By MARTIN GRIFFITH - AP - 25 mins ago
RENO, Nev. (AP) — The state's unemployment rate inched down to 9.5 percent in May, the lowest it's been since the recession began taking hold in 2008, officials said Friday. ( full story )
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By MICHAEL KUNZELMAN - AP - 28 mins ago
NEW ORLEANS (AP) — For months, BP has complained that a Louisiana attorney who is administering its settlement with tens of thousands of Gulf Coast businesses and residents has made decisions that expose the company to what could be billions of dollars in fictitious claims arising from the 2010 oil spill in the Gulf of Mexico. ( full story )
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AP - 28 mins ago
ATLANTA (AP) — A day after its sale to Goldman Sachs was called off, insurance technology provider Ebix Inc. said Friday it will buy back up to $100 million shares over the next two years. ( full story )
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AP - 37 mins ago
SAVANNAH, Ga. (AP) — Food Network says it won't renew Paula Deen's contract after admission she used racial slurs. ( full story )
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By The Associated Press - AP - 38 mins ago
NEW DEAL: Residents of the town of Pavillion in the Wind River Reservation of central Wyoming said they were excluded from a deal that has the state taking over further study of groundwater pollution from the U.S. Environmental Protection Agency. ( full story )
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AP - 39 mins ago
NEW YORK (AP) — The Federal Aviation Administration is investigating why two airplanes came too close to each other over New York City last week. ( full story )
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By The Associated Press - AP - 41 mins ago
A line of strollers with tires that can rupture and turn the wheel rim into a dangerous projectile are among this week's recalled consumer products. Others include several types of baby bath seats that fail to meet safety standards and pose a drowning hazard. ( full story )
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By The Associated Press - AP - 47 mins ago
Oracle Corp.'s shares tumbled 9 percent Friday after the software maker reported another quarter of disappointing revenue. ( full story )
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By DAVID PITT - AP - 48 mins ago
DES MOINES, Iowa (AP) — Microsoft announced plans Friday to build another massive data center in Iowa, which has attracted some of the biggest names in computer technology by exempting crucial ingredients for processing and storage from sales taxes as well as offering cheap electricity. ( full story )
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By JOAN LOWY and SCOTT MAYEROWITZ - AP - 31 mins ago
WASHINGTON (AP) — The government is moving toward easing restrictions on airline passengers using electronic devices to listen to music, play games, read books, watch movies and work during takeoffs and landings, but it could take a few months. ( full story )
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By TOM LoBIANCO - AP - 50 mins ago
INDIANAPOLIS (AP) — Indiana's state superintendent is seeking at least $614,000 in damages from CTB/McGraw-Hill for testing troubles. ( full story )
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By COLLEEN BARRY - AP - 48 mins ago
MILAN (AP) — Burberry has packed up for London, abandoning Milan after a decade of menswear fealty. Giorgio Armani has scolded Italian designers who regularly show in other fashion capitals. And Donatella Versace even called for a fashion summit in a bid for unity. ( full story )
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By MICHAEL KUNZELMAN - AP - 57 mins ago
NEW ORLEANS (AP) — A lawyer working for the administrator overseeing a multibillion-dollar settlement from the 2010 BP oil spill in the Gulf resigned Friday after being accused of misconduct. ( full story )
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