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Profits sagged at Swiss bank UBS as clients held back

The Associated Press  |  Posted  May 3rd - 8:00am

Swiss bank UBS Group AG says first-quarter profits dropped as turbulent markets and global economic and political uncertainty deterred clients from doing business.

Markets Right Now: US stocks open lower on weak China data

The Associated Press  |  Posted  May 3rd - 7:51am

The Latest on global financial markets (all times local):

Suspended executive at VW's Porsche brand is replaced

The Associated Press  |  Posted  May 3rd - 7:51am

Volkswagen's Porsche division has replaced a top vehicle development manager suspended since the start of the Volkswagen group's scandal over diesel cars rigged to cheat on emissions tests.

DC celebrates another year of record-breaking tourist crowds

Ben Nuckols, Associated Press  |  Posted  May 3rd - 7:42am

More than 19 million U.S. tourists visited Washington in 2015, an increase of 1 million over the previous year and a record total for the nation's capital as its tourism industry continues to make steady progress since the Great Recession.

Memos from Egypt's Interior Ministry leaked to journalists

Brian Rohan, Associated Press  |  Posted  May 3rd - 7:30am

Memos containing internal instructions from Egypt's Interior Ministry were leaked to the media on Tuesday, outlining strategies on how to deflect public outrage over arrests it made inside the journalists' union, handle the media in general, and deal with the case of an Italian student found tortured to death.

St. Louis jury awards $55M in Johnson & Johnson cancer suit

Jim Salter, Associated Press  |  Posted  May 3rd - 7:20am

For the second time in three months, a St. Louis jury has ordered Johnson & Johnson to pay a huge award over claims that its talcum powder causes cancer.

Beyonce goes from 'Lemonade' to watermelon water

The Associated Press  |  Posted  May 3rd - 7:12am

WTRMLN WTR, a startup beverage company that makes cold-pressed watermelon juice, announced Tuesday that Beyonce has joined as an investor.

Gaza sewage crisis, festering in conflict, poisons coast

Fares Akram and Daniella Cheslow, Associated Press  |  Posted  May 3rd - 7:11am

Each day, millions of gallons of raw sewage pour into the Gaza Strip's Mediterranean beachfront, spewing out of a metal pipe and turning miles of once-scenic coastline into a stagnant dead zone.

Freddie Mac posts $354M loss in 1Q; no dividend payment

The Associated Press  |  Posted  May 3rd - 7:00am

Mortgage giant Freddie Mac reported a net loss of $354 million for the first quarter, mostly due to losses it sustained on the investments it uses to hedge against swings in interest rates.

The Republic of Tea recalls green tea over salmonella fears

The Associated Press  |  Posted  May 3rd - 6:50am

The California-based company The Republic of Tea is recalling one of its green tea blends as a precaution over fears of possible salmonella contamination.

Once a Clinton stronghold, Appalachia now Trump country

Lisa Lerer, Associated Press  |  Posted  May 3rd - 6:50am

When President Bill Clinton rolled into the small Appalachian town of Ashland, Kentucky, in 1996, cheering crowds lined the streets. Local boy turned country music star Billy Ray Cyrus performed a special version of his hit, "Achy Breaky Heart." And nearly 20,000 supporters attended a riverfront re-election rally, dozens collapsing from heat exhaustion in the August sun.

France threatens 'no' to US-EU trade zone, amid new tensions

The Associated Press  |  Posted  May 3rd - 6:40am

France is threatening to reject a huge free trade deal between the U.S. and the European Union, saying it's too friendly to U.S. business and probably doomed.

EU trims economic growth forecasts amid global uncertainty

Raf Casert, Associated Press  |  Posted  May 3rd - 6:30am

The European Union has trimmed its economic growth forecasts for the 19 countries that share the euro amid an unpredictable global outlook marked by political uncertainty and weakness in emerging markets.

Biogen plans to spin off hemophilia business

The Associated Press  |  Posted  May 3rd - 6:00am

Biotechnology company Biogen says it plans to spin off its hemophilia business into a separate, publicly traded company.

Survey: Upcoming election makes small business owners wary

Joyce M. Rosenberg, Associated Press  |  Posted  May 3rd - 5:51am

Uncertainty about the approaching presidential election is leading small business owners to take a wait-and-see approach to the economy and their companies, a survey published Tuesday shows.

Australia plans to halve budget deficit within 3 years

Rod McGuirk, Associated Press  |  Posted  May 3rd - 5:30am

Australia's government said Tuesday it plans to reduce its budget deficit by more than half in three years while maintaining momentum in a sluggish economy with personal and business tax cuts.

Effect of freight train derailment in DC extends to 2nd day

The Associated Press  |  Posted  May 3rd - 5:21am

Commuters are finding a different way into work for a second day after a weekend freight train derailment in Washington.

Indian teenager dies while shooting selfie with loaded gun

The Associated Press  |  Posted  May 3rd - 4:40am

A teenager has died after accidentally shooting himself while posing for a selfie with a loaded handgun held to his head, police said Tuesday.

Jim Beam fills 14 millionth bottle of bourbon

The Associated Press  |  Posted  May 3rd - 4:30am

Jim Beam has filled and sealed its 14 millionth barrel of bourbon since the 1933 repeal of Prohibition, achieving a first in the bourbon industry.

BMW enjoys strong Europe, Asia sales but cautious on outlook

The Associated Press  |  Posted  May 3rd - 4:10am

Luxury automaker BMW says net profit rose 8.2 percent in the first quarter thanks to strong sales in Europe and Asia, but the company gave a restrained outlook for the rest of the year.