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Mortgage giant Freddie Mac reported net income of $524 million for the first quarter, down sharply from the same period of 2014, as it sustained losses on the investments it uses to hedge against swings in interest rates.
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Pump primed at Disney for big year led by movies

Ryan Nakashima, Associated Press  |  posted 26 minutes ago
The pump is primed at Disney to reap the benefits of a big year at the movies.
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Disney beats Street 2Q forecasts

The Associated Press  |  posted 57 minutes ago
The Walt Disney Co. (DIS) on Tuesday reported fiscal second-quarter earnings of $2.11 billion.
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EU raises eurozone forecast despite bleaker Greek outlook

Pan Pylas and Raf Casert, Associated Press  |  posted May 5th - 6:10am
The European Union has nudged up its forecast for economic growth across the 19-country eurozone despite a much gloomier outlook for Greece, which is struggling to get its hands on vital bailout cash it needs to pay off debts.
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Afghan poppy farmers say new seeds will boost opium output

Mirwais Khan and Lynne O'Donnell, Associated Press  |  posted May 5th - 5:11am
It's the cash crop of the Taliban and the scourge of Afghanistan — the country's intractable opium cultivation. This year, many Afghan poppy farmers are expecting a windfall as they get ready to harvest opium from a new variety of poppy seeds said to boost yield of the resin that produces heroin.
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German train drivers start five-day strike in wage dispute

The Associated Press  |  posted May 5th - 4:51am
German train drivers started a five-day strike Tuesday, their longest walkout yet in an increasingly bitter dispute with the country's main railway operator.
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Reforming Baltimore police will be expensive, costly

Ben Nuckols and Michael Biesecker, Associated Press  |  posted May 5th - 2:41am
Months before Freddie Gray died of the broken neck he suffered during what Baltimore's top prosecutor called an illegal arrest, the city's mayor and police commissioner said the department needed reform and asked the Justice Department for help reviewing officer misconduct.
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Amazon Prime members will be able to stream free on JetBlue

By Mae Anderson, Associated Press  |  posted 15 minutes ago
Amazon wants to give JetBlue passengers a new option for tuning out that crying baby or talkative seat neighbor.
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US trade deficit jumps to 6-year high of $51.4 billion

Martin Crutsinger, Associated Press  |  posted 27 minutes ago
The U.S. trade deficit in March jumped to the highest level in more than six years as a small increase in exports was swamped by a flood of imports from autos to cellphones.
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Chrysler worker dies in accident at Detroit plant

The Associated Press  |  posted 37 minutes ago
Authorities say a worker has died in an industrial accident at a Chrysler plant in Detroit.
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EU competition watchdog eyes McDonald's over taxes

The Associated Press  |  posted 57 minutes ago
The European Union's competition watchdog has U.S. fast-food giant McDonald's in its sights.
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Report: 'Legal firewall' shields Chinese firms from lawsuits

Paul Wiseman, Associated Press  |  posted May 5th - 6:11am
A federal watchdog says Chinese companies are shielding themselves from lawsuits in America, denying U.S. businesses and investors their day in court.
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Environmentalists sue over theme park's solar farm plans

The Associated Press  |  posted May 5th - 5:50am
Environmental groups have filed suit over a New Jersey theme park's plans to cut nearly 19,000 trees to build a 90-acre solar farm.
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China to lift price controls on most drugs starting June 1

The Associated Press  |  posted May 5th - 4:30am
Chinese regulators will lift price controls on most pharmaceutical drugs starting June 1 in hopes that the market-driven pricing system will keep medical costs in check, the National Development and Reform Commission announced Tuesday.
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VW CEO vows progress on costs after leadership struggle

David McHugh, Associated Press  |  posted May 5th - 4:30am
Volkswagen's CEO said the company is tackling its problems in the wake of a leadership struggle and promised progress on lowering costs and raising profitability.
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Deadline extended for Illinois prepaid college tuition plan

The Associated Press  |  posted May 5th - 3:10am
Illinois families wanting to lock in future college tuition payments at today's rates have an extra month to sign up for a state savings program.
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