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U.S. stocks sank in afternoon trading Friday following a report that the economy shrank in the first three months of the year. The revised data showed that gross domestic product contracted 0.7 percent in the first quarter. That was worse than the government's initial estimate of growth of 0.2 percent.
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For failed Atlantic City loan program, big promises fizzled

Josh Cornfield, Associated Press  |  posted 31 minutes ago
When Jim Thigpen first met with an investor in early 2012 to discuss selling control of the Tennessee financial firm he had run for more than 20 years, he said W. Wesley Drummon boasted of a business plan that involved $2 billion from the Bank of China. Nothing was said about running a loan program for Atlantic City.
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Hastert indictment offers few clues about alleged misconduct

Michael Tarm, Associated Press  |  posted May 29th - 11:35am
A newly unveiled indictment against former U.S. House Speaker Dennis Hastert accuses the Republican of agreeing to pay $3.5 million in hush money to keep a person from the town where he was a longtime schoolteacher silent about "prior misconduct."
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The Latest: James Holmes says God would care about shootings

The Associated Press  |  posted May 29th - 11:22am
10:55 a.m. (MDT)
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Chinese weaponry spotted on artificial island, US says

Lolita C. Baldor and Matthew Pennington, Associated Press  |  posted 10 minutes ago
U.S. surveillance detected two large artillery vehicles on one of the artificial islands that China is creating in the South China Sea, U.S. officials said Friday, heightening concerns that Beijing could use the land reclamation projects for military purposes.
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More cancer success with drugs that enlist immune system

Lindsey Tanner, Associated Press  |  posted 17 minutes ago
For the first time, a major study shows that a drug targeting the body's disease-fighting immune system may improve survival for the most common form of lung cancer.
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UW budget cut to be reduced by $50 million

Scott Bauer, Associated Press  |  posted 31 minutes ago
Gov. Scott Walker's proposed $300 million cut to the University of Wisconsin System would be reduced by $50 million under changes to the plan endorsed Friday by Republicans who control the Legislature's budget-writing committee.
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US appeals court: Alzheimer's drug swap is anti-competitive

Michael Virtanen, Associated Press  |  posted 50 minutes ago
A federal appeals court has ruled that drug manufacturer Actavis PLC's attempted switch of patented Alzheimer's medication, which halted distribution of the old drug before its patent expires this summer, violates U.S. antitrust law.
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Stockton shows concern over Showboat deal on enrollment

Wayne Parry, Associated Press  |  posted May 29th - 11:22am
Here's another sign of how concerned Stockton University is about its unsuccessful effort to convert a former casino into a satellite campus: It is writing to 2,200 prospective students assuring them the failed deal won't adversely affect tuition rates or housing availability.
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Head of UAW rival: No close ties to anti-labor group at VW

The Associated Press  |  posted May 29th - 11:11am
The head of a rival group to the United Auto Workers at the Volkswagen plant in Tennessee says his group doesn't share close links to another outfit that worked against a union election at the factory last year.
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Program helps low-income students seeking worker training

The Associated Press  |  posted May 29th - 11:01am
A program recently approved by the Legislature will provide tuition assistance for those seeking worker training through noncredit programs at Nebraska community colleges.
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White House vow to veto fishing law changes sparks fight

Patrick Whittle, Associated Press  |  posted May 29th - 10:53am
A White House pledge to veto proposed changes to federal fishing laws has divided fishermen over whether the rule changes should be saved or scrapped.
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Nevada casinos win more in April, $897.9 million total

The Associated Press  |  posted May 29th - 10:51am
Nevada analysts say the state's casinos won more in April than they did a year ago.
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Anheuser-Busch producing canned water for flood victims

The Associated Press  |  posted May 29th - 10:42am
An Anheuser Busch plant in northwest Georgia has started canning water instead of beer to help flood victims in Texas and Oklahoma.
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Observatory at One World Trade Center opens to public

The Associated Press  |  posted May 29th - 10:31am
There's a new bird's eye view of New York City.
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