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Indian textile maker Welspun under scrutiny over sheets

Anne D'Innocenzio, Associated Press  |  Posted  Aug 25th - 10:10am

U.S. retailers including J.C. Penney and Wal-Mart are scrutinizing whether sheets Welspun India Ltd. had said were high-end Egyptian cotton were actually cheaper knock-offs, questions that have sent the textile company's shares plunging more than 40 percent.

Markets Right Now: Stocks waver in late morning trade

The Associated Press  |  Posted  Aug 25th - 10:03am

The latest on developments in global financial markets (all times local):

Auto, technology industries clash over talking cars

Joan Lowy, Associated Press  |  Posted  Aug 25th - 10:00am

Cars that wirelessly talk to each other are finally ready for the road, creating the potential to dramatically reduce traffic deaths, improve the safety of self-driving cars and someday maybe even help solve traffic jams, automakers and government officials say.

WhatsApp is going to share your phone number with Facebook

Brandon Bailey, Associated Press  |  Posted  Aug 25th - 9:52am

Global messaging service WhatsApp says it will start sharing the phone numbers of its users with Facebook, its parent company. That means WhatsApp users could soon start seeing more targeted ads and Facebook friend suggestions on Facebook based on WhatsApp information — although not on the messaging service itself.

Tax credit awarded for Direct Supply expansion

The Associated Press  |  Posted  Aug 25th - 9:51am

A Milwaukee company that supplies and runs senior living facilities will receive up to $22.5 million in state economic development tax credits to expand its campus on the city's northwest side.

The Latest: Some Louisiana sugarcane fields still flooded

The Associated Press  |  Posted  Aug 25th - 9:51am

The Latest on Louisiana flooding (all times local):

Prison company fights to seal documents about strip searches

Travis Loller, Associated Press  |  Posted  Aug 25th - 9:50am

Private prison operator Corrections Corporation of America is trying to seal from public view documents in a lawsuit that claim female visitors to a Tennessee prison were forced to undergo strip searches to prove they were menstruating.

Why the EU's tax probe of multinationals is raising US ire

Lorne Cook, Associated Press  |  Posted  Aug 25th - 9:32am

The European Union's campaign to crack down on tax avoidance by multinationals has drawn unusually public criticism from the U.S., which says it is unfairly targeting American companies.

London flight delayed for hour as easyJet crew members argue

The Associated Press  |  Posted  Aug 25th - 9:30am

An easyJet flight from London's Gatwick Airport to Belfast has faced an hourlong delay after two crew members got into an epic shouting match.

Tilman Fertitta donates $20M to University of Houston sports

The Associated Press  |  Posted  Aug 25th - 9:30am

Businessman Tilman Fertitta (fuhr-TEE'-tuh) has given $20 million to the University of Houston in what school officials say is the largest donation for Cougar sports.

Under deal, hospital to get training, diagnosis opinions

The Associated Press  |  Posted  Aug 25th - 9:11am

Officials say a Minnesota-based group of health care providers will give support — including medical opinions and training — to a hospital in Pittsburgh under a newly announced partnership.

Biden warns Europe against Russian energy reliance

The Associated Press  |  Posted  Aug 25th - 9:11am

U.S. Vice President Joe Biden says a new natural gas pipeline planned to stretch from Russia to Germany "looks like a fairly bad deal" for Europe because it increases its energy dependency on Moscow.

Officer in bed of pickup shot driver 9 times; town to pay

The Associated Press  |  Posted  Aug 25th - 9:10am

A lawyer says a small town in Tennessee will pay a substantial settlement to the family of a man who was shot nine times as he tried to drive off with a police officer in the bed of his pickup truck.

Average US 30-year mortgage rate unchanged at 3.43 percent

The Associated Press  |  Posted  Aug 25th - 9:03am

Long-term U.S. mortgage rates didn't budge this week, remaining at historically low levels that continue to lure prospective home buyers.

Spain revises Q2 growth estimate upward to 0.8 percent

The Associated Press  |  Posted  Aug 25th - 9:01am

Officials have revised Spain's quarterly economic growth figure for the April-June period upward, from 0.7 percent to 0.8 percent, welcome news for a country in its eighth month without a fully functioning government.

Company expands payment breaks, but stands firm on price

The Associated Press  |  Posted  Aug 25th - 9:01am

Even though the maker of the EpiPen is expanding programs that help patients pay for it, the company -- Mylan -- isn't budging on the price of the emergency allergy treatment.

German business confidence drops unexpectedly, survey shows

The Associated Press  |  Posted  Aug 25th - 9:00am

Business confidence in Germany, Europe's biggest economy, has dropped unexpectedly as managers' assessment of both their current and future situations darkened following Britain's decision to leave the European Union, a survey showed Thursday.

Obama administration pushing state-run retirement plans

The Associated Press  |  Posted  Aug 25th - 9:00am

The Obama administration has finalized a new rule intended to encourage states to set up their own retirement plans.

Kansas City Council panel discusses incentive limits

The Associated Press  |  Posted  Aug 25th - 8:51am

A Kansas City Council committee is considering economic development incentive limits.

Grain mixed, livestock mixed

The Associated Press  |  Posted  Aug 25th - 8:51am

Grain futures were mixed Thursday in early trading on the Chicago Board of Trade.