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Report: European banks to struggle, may need to cut costs

The Associated Press  |  Posted  May 24th - 6:11am

European banks are likely to struggle to make profits in months ahead and may need to cut costs, merge or change their business strategies to return to solid health, a report said Tuesday.

Best Buy adds to chorus or woes in retail

The Associated Press  |  Posted  May 24th - 6:00am

A strong start to the year from Best Buy was overshadowed by a lengthening string of declining quarterly sales and a pessimistic outlook that added to a chorus of woes from the retail sector.

US biochemical engineer wins $1.2 million technology prize

The Associated Press  |  Posted  May 24th - 6:00am

American biochemical engineer Frances Arnold has won this year's euro 1 million ($1.2 million) Millennium Technology Prize for discoveries in "directed evolution," which has helped sustainable development and clean technology become available in many areas of industry.

British pound up as markets see lower risk of EU exit

The Associated Press  |  Posted  May 24th - 5:50am

The British pound posted strong gains Tuesday as market expectations waned somewhat of a British exit from the European Union, so-called Brexit.

Defendant pleads guilty in stock, money-laundering scheme

The Associated Press  |  Posted  May 24th - 5:40am

Federal prosecutors in New York say a Belize resident has pleaded guilty to money laundering conspiracy for helping clients profit off illegal stock trades and then laundering more than $250 million.

Police help Lisbon port move cargo amid dock workers' strike

The Associated Press  |  Posted  May 24th - 5:30am

Riot police have held back striking Lisbon dock workers while port operators remove ship containers stranded for several weeks by the walkout over pay and labor rights.

Apple boss Tim Cook: Apps are future of TV

The Associated Press  |  Posted  May 24th - 5:30am

Apple CEO Tim Cook said Tuesday that apps are the future of television and that the company wants to help change the entertainment industry.

Yale commencement includes first ROTC graduates since 70s

The Associated Press  |  Posted  May 24th - 4:50am

Defense Secretary Ashton Carter handed out commissions to the Yale's first ROTC graduating class in more than four decades.

Greece hopes to get new loans cleared by eurozone creditors

The Associated Press  |  Posted  May 24th - 4:40am

Greece is hoping its eurozone creditor nations will approve Tuesday the payment of the next batch of rescue loans that will allow Athens to avoid defaulting on its debts this summer.

AP Interview: Qatar energy minister wants 'fair' oil price

Adam Schreck, Associated Press  |  Posted  May 24th - 4:40am

The oil market is slowly recovering from its steep drop over the past two years but crude is still not trading at a "fair price" to encourage necessary investment, Qatar's energy and industry minister said Tuesday, ahead of next week's meeting of OPEC producers.

Dubai announces $270 million canal project with homes, shops

The Associated Press  |  Posted  May 24th - 4:20am

Officials in Dubai have announced a new, $270-million project to build homes and shops along part of the under-construction Dubai canal.

Ratings firm: Passage of Props 123, 124 credit positives

The Associated Press  |  Posted  May 24th - 4:00am

A top national bond ratings firm calls the passage of propositions 123 and 124 "credit positives" for Arizona and its school districts.

UK council approves fracking; environmentalists vow to fight

The Associated Press  |  Posted  May 24th - 3:50am

A council has granted the first fracking license to be issued in England for five years, but environmental groups are vowing to fight on against the use of the technology.

German investor confidence down amid concern over UK vote

The Associated Press  |  Posted  May 24th - 3:40am

A survey of German investor confidence has dipped unexpectedly because of concerns, among others, over whether Britain will vote to leave the European Union.

Swiss bank to be shut over Malaysia embezzlement scandal

Geir Moulson and Jamey Keaten, Associated Press  |  Posted  May 24th - 3:30am

A Swiss private bank will face criminal proceedings and be liquidated after allegedly committing serious breaches of anti-money laundering regulations in connection with the suspected embezzlement of a Malaysian state investment fund.

Fiat Chrysler names new head of Alfa Romeo and Maserati

The Associated Press  |  Posted  May 24th - 3:20am

Fiat Chrysler Automobiles has announced that its U.S. sales chief will take over the premium Italian Alfa Romeo and Maserati brands.

12 dead, 50 injured in jade mining landslide in Myanmar

The Associated Press  |  Posted  May 24th - 3:10am

A landslide in northern Myanmar's jade mining region Tuesday killed at least 12 people and injured about 50 others, witnesses and officials said.

French police force open fuel depot amid protests, shortages

The Associated Press  |  Posted  May 24th - 3:10am

French police have dislodged protesters blocking a key fuel depot on the Mediterranean, as gasoline shortages spread around the country amid increasingly tense labor actions.

Volkswagen to provide update on emissions settlement talks

The Associated Press  |  Posted  May 24th - 2:21am

A federal judge is set to get an update on ongoing settlement talks in the Volkswagen emissions cheating scandal after announcing a tentative deal last month for nearly half a million polluting Volkswagens in the U.S.

House panel hearing lawmaker who wants IRS chief impeached

Alan Fram, Associated Press  |  Posted  May 24th - 1:31am

A sympathetic House Judiciary Committee is giving a high-profile forum to a top Republican who wants to impeach IRS Commissioner John Koskinen, a cause that excites conservatives but seems unlikely to go far in Congress this election year.