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  • Student loan rates double without Congress' action

    WASHINGTON (AP) -- College students' interest rates are at the mercy of Congress.(   07/02/2013 5:13 AM )

  • Asia stocks gain as Fed, China slowdown weighed

    BANGKOK (AP) -- Asian stock markets were mostly higher Tuesday as speculation that lukewarm U.S. economic indicators would keep the Federal Reserve from ending its stimulus program early offset pessimism about China's economy. Major European markets opened slightly down.(   07/02/2013 5:01 AM )

  • Strike slows rush hour in San Francisco Bay area

    OAKLAND, Calif. (AP) -- San Francisco Bay area commuters entered another day without the region's heavily used rail system as hundreds of train workers demanding higher wages continue to strike.(   07/02/2013 4:58 AM )

  • Urban-rural alliance breaks down on farm bill vote

    DES MOINES, Iowa (AP) -- For decades, country and city interests had come together every few years to pass the farm bill, a measure that provided billions of dollars in subsidies to farmers and businesses in rural areas and food stamp money for urbanites.(   07/02/2013 4:44 AM )

  • Doctors: Patents keep HIV drugs too pricy to use

    KUALA LUMPUR, Malaysia (AP) -- Doctors Without Borders warned Tuesday that rising intellectual property rights are blocking the generic production of newer drugs to treat HIV and are keeping them out of reach for developing countries.(   07/02/2013 4:20 AM )

  • Spain's jobless figure drops 4th month in a row

    MADRID (AP) -- Spain's Labor Ministry says the number of people registered as unemployed dropped for a fourth consecutive month in June with the total falling by 127, 248 as the summer tourist season generated more jobs.(   07/02/2013 4:10 AM )

  • Brazil protesters give Rousseff tenuous truce

    SAO PAULO (AP) -- Cristiano Gulias took a deep drag from his mini-cigar and did the unthinkable -- he started a political discussion in a coffee shop the morning after Brazil's national soccer team won a major championship.(   07/02/2013 3:17 AM )

  • Oil near $98 as protests rock Egypt government

    BANGKOK (AP) -- Oil hovered near $98 a barrel Tuesday, underpinned by political unrest in Egypt that raised fears of disruption to global crude supplies.(   07/02/2013 2:23 AM )

  • Obama courts Africa's business on trip's final leg

    DAR ES SALAAM, Tanzania (AP) -- President Barack Obama on Monday courted African business leaders and announced new trade initiatives to open up East Africa's markets to American businesses, as he sought to counter the rise of Chinese economic influence in the growing continent.(   07/02/2013 12:35 AM )

  • Obama defends US intelligence gathering on allies

    DAR ES SALAAM, Tanzania -- President Obama defended US intelligence-gathering tactics Monday in the wake of a report that the United States conducted electronic monitoring of European Union offices and computer networks. In Asia, Secretary of State John F. Kerry said he was taken by surprise when EU foreign policy chief Catherine Ashton questioned him about the reported eavesdropping. The German magazine Der Spiegel said Sunday that the conduct was described in portions of documents from 2010 provided by Edward Snowden, the former US National Security Agency contractor whose earlier revelations about international NSA surveillance have caused a firestorm of questions and criticism in the United States. The report said the agency had placed listening devices in EU offices, monitored phone lines, and breached its computer network.(   07/02/2013 12:00 AM )

  • A big Medicaid gap looms in Obama health care law

    WASHINGTON -- Nearly 2 in 3 uninsured low-income people who would qualify for subsidized coverage under President Obama's health care law may be out of luck next year because their states have not expanded Medicaid. An Associated Press analysis of figures from the Urban Institute finds a big coverage gap developing, with 9.7 million out of 15 million potentially eligible adults living in states that are refusing the expansion or are still undecided with time running short. That a majority of the neediest people who could be helped by the law may instead remain uninsured is a predicament unforeseen by Obama and congressional Democrats who designed a sweeping extension of the social safety net. The law promised health insurance for nearly all US residents.(   07/02/2013 12:00 AM )

  • Boylston Properties teaming up with athenahealth CEO in bid to remake Arsenal area in Watertown

    A scruffy stretch of East Watertown, home to a pedestrian collection of stores and medical offices, may be destined for a makeover as a mecca for startups and young professionals. Boston developer Boylston Properties is teaming up with athenahealth Inc. chief executive Jonathan Bush and The Wilder Cos. to purchase the 225,000-square-foot Arsenal Mall and two other nearby parcels. They plan to transform them from "a black hole," in Bush's words, to "a cool place to live and play," with loft apartments, hip restaurants, and boutiques catering to entrepreneurs and technology whiz kids. The goal is to extend the area's innovation cluster into Watertown by offering lower rents and leases than in pricey Cambridge. "It's going to be the Kendall Square lifestyle at half the price," Bush said.(   07/02/2013 12:00 AM )

  • Obama courts Africa's business on trip's final leg

    DAR ES SALAAM, Tanzania -- President Obama on Monday courted African business leaders and announced new trade initiatives to open up East Africa's markets to American businesses, as he sought to counter the rise of Chinese economic influence in the growing continent. The United States, he declared, wants to ''step up our game'' in a region that is home to six of the world's 10 fastest growing economies. The president was welcomed in Tanzania by the largest crowds of his weeklong trip to the continent where his family ties run deep. Thousands of people lined the 20-minute route as his motorcade sped from the airport to the center of this city on the Indian Ocean. Some onlookers wore shirts and wraps bearing Obama's image.(   07/02/2013 12:00 AM )

  • Steinway Musical sold for $438m

    Steinway Musical Instruments Inc., the maker of the iconic piano played by soloists in nearly every major­ symphony in the world, is being acquired by Kohlberg & Co. of New York for $438 million. The private equity firm plans to take the Waltham company private after 17 years of trading under the ticker symbol LVB, short for Ludwig van Beethoven. "This will allow us to focus less on Wall Street and even more on operations," said Michael Sweeney, chairman and interim chief executive of Steinway. "Now we can focus 100 percent on serving customers and expanding customer base." The company's piano division, Steinway & Sons, has a rich history dating back to 1853, when German immigrant Henry Engelhard Steinway and his sons began making pianos in a Manhattan loft.(   07/02/2013 12:00 AM )

  • iRobot sues European competitors over patents

    Bedford-based robot maker iRobot Corp. has sued four European companies in a German court, alleging that the companies violated five of its patents used in its Roomba home-cleaning robot. The suit alleges that a robotic vacuum cleaner sold in Germany, the Solac Ecogenic AA3400, incorporates technology developed by iRobot for its Roomba vacuum cleaner. iRobot says that the Ecogenic violates five of iRobot's German patents, covering a variety of the Roomba's features, such as its ability to automatically navigate through rooms, or clean rooms at a particular time of day.(   07/02/2013 12:00 AM )

  • Dartmouth-Hitchcock signs onto N.H. Medicaid managed care

    CONCORD, N.H. -- New Hampshire's largest health care provider signed contracts Monday with three health care plans to join the state's managed care network for Medicaid -- a key to getting the network operating. Dartmouth-Hitchcock announced it will work with Well Sense Health Plan, Granite State Health Plan, and Meridian Health Plan of New Hampshire to provide coordinated care for eligible Medicaid beneficiaries. Dartmouth-Hitchcock said that by signing with all three managed care plans, Medicaid recipients would have access to Dartmouth-Hitchcock providers regardless of which plan they choose. The state has been trying to move from a fee-for-service health model to managed care for its Medicaid clients but needed participation from hospitals to make it work.(   07/02/2013 12:00 AM )

  • Rawleigh Warner, Mobil chairman who developed image management, dies at 92

    WASHINGTON -- Rawleigh Warner, the Mobil Oil chairman and chief executive who took corporate image management to a new level through company sponsorship of ''Masterpiece Theater'' on public television and paid opinion pieces that appeared in US newspapers, has died. He was 92. He died Wednesday in Hobe Sound, Fla., according to a death notice in the New York Times. The cause was complications from the progressive muscle disease known as inclusion body myositis. As chairman and chief executive from 1969 to 1986, and president from 1965 to 1969, the finance-minded Mr. Warner led Mobil, then based in New York, as it overtook rivals to become second in sales behind Exxon Corp., years before the two companies merged.(   07/02/2013 12:00 AM )

  • Jane Mendillo's big bet: Harvard endowment stands to win large, or lose, on emerging markets investments

    This wasn't the China story Jane Mendillo had in mind. The chief of the Harvard University endowment has made a big bet on investments in foreign and emerging markets -- 22 percent of a portfolio that exceeds $31 billion. Harvard's exposure to those markets is greater than many other endowments and significantly higher than the 15 percent the university had earmarked for those sectors in 2005. The bet hasn't paid off over the last 18 months, as US markets outpaced those abroad. As China struggles with a credit crunch and a slowing economy, other emerging markets are likely to suffer. And much of Europe, meanwhile, is mired in recession. That means more challenges for Mendillo in restoring the nation's largest college endowment to pre-recession levels.(   07/02/2013 12:00 AM )

  • US doctor returns Vietnamese veteran's arm

    HANOI -- An American doctor arrived in Vietnam carrying an unlikely piece of luggage: the bones of an arm he amputated in 1966. Dr. Sam Axelrad brought the skeletal keepsake home to Texas as a reminder that when a badly injured North Vietnamese soldier was brought to him, he did the right thing and fixed him up. The bones sat in a closet for decades, and when the Houston urologist finally pulled them out two years ago, he wondered about their true owner, Nguyen Quang Hung. The men were reunited Monday at Hung's home in central Vietnam. They met each other's children, and grandchildren, and joked about which of them had been better looking back when war had made them enemies.(   07/02/2013 12:00 AM )

  • Zynga CEO steps down, Microsoft exec to take post

    Zynga's CEO, Mark Pincus, is stepping down to be replaced by Don Mattrick, the head of Microsoft's Xbox business, as the troubled online game company looks to revive its business. The maker of ''FarmVille'' and other games said Pincus, who founded Zynga Inc. and named it after his American bulldog in 2007, will stay on as chairman and chief product officer. Mattrick, 49, has served as president of Microsoft's entertainment business, which includes the Xbox, since 2010. He's been with Microsoft six years. Zynga's stock is down sharply since the company's 2011 initial public offering at $10 per share. Its games have waned in popularity, and it announced in June that it was cutting 520 jobs, or about 18 percent of its workforce.(   07/02/2013 12:00 AM )

  • Rates fall at weekly US Treasury bill auction

    Interest rates on short-term Treasury bills fell in Monday's auction to the lowest levels in two weeks. The Treasury Department auctioned $30 billion in three-month bills at a discount rate of 0.050 percent, down from 0.060 percent last week. Another $25 billion in six-month bills was auctioned at a discount rate of 0.085 percent, down from 0.105 percent. The three-month rate was the lowest since these bills averaged 0.045 percent on June 17. The six-month rate was the lowest since the bills averaged 0.075 percent, also on June 17. The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,998.75; a six-month bill sold for $9,995.73.(   07/02/2013 12:00 AM )

  • US factory activity expands in June, jobs decline

    US manufacturing activity grew in June behind a pickup in new orders, exports, and production. Better economic growth overseas is boosting US exports and could help American factories rebound in the second half of the year. The Institute for Supply Management said Monday that its index of factory activity increased to 50.9 in June. That's up from 49 in May, which was the lowest reading in four years. A reading above 50 suggests growth, while those below indicate contraction. A measure of export orders jumped to 54.5 from 51. That may be a response to growth in Japan and some European countries, economists said. Still, a measure of manufacturing employment fell in June to 48.7, its lowest level since September 2009.(   07/02/2013 12:00 AM )

  • Groupon debuts restaurant reservations challenging OpenTable

    Groupon Inc., the biggest daily deals website, is adding an online restaurant-booking service that offers discounted meals as the company seeks to bolster revenue amid waning demand for its Web coupons. The service, Groupon Reserve, will let customers use Savored.com's reservations engine to find tables, Chicago-based Groupon said Monday. It's starting in 10 cities including New York and Washington, and will expand in the United States and overseas by the end of 2013. Groupon, which started out by promoting discounts via e-mail alerts, is challenging existing reservation services such as OpenTable as consumers buy fewer daily deals. Unlike other Groupon discounts, the restaurant platform will give users a discount off their bill without requiring pre-payment or vouchers.(   07/02/2013 12:00 AM )

  • Apple files for 'iWatch' trademark in Japan

    Apple Inc. is seeking a trademark for ''iWatch'' in Japan as rival Samsung Electronics readies its own wearable computing device. Apple is seeking protection for the name, which is listed in a category for products such as a hand-held computer or watch, according to a June 3 filing with the Japan Patent Office that was made public last week. Apple's shares have retreated more than 40 percent from a record high in September amid concern that chief executive Tim Cook has taken too long to deliver a new breakthrough product to help make up for stiffer iPhone competition. The company has about 100 designers working on a wristwatch-like device that may perform some of the tasks now handled by the iPhone and iPad, two people said in February.(   07/02/2013 12:00 AM )

  • Citigroup pays Fannie Mae $968 million to resolve mortgage claims

    WASHINGTON -- Citigroup said Monday that it had agreed to pay mortgage-finance giant Fannie Mae $968 million to resolve claims on 3.7 million home loans that have soured or might go bad. The bank is one of many institutions that sell home loans to the government-sponsored entity, which bundles them into mortgage-backed securities and guarantees the bonds. Following the housing crash, many of the loans that underpinned those securities soured as millions of Americans defaulted on their mortgages. Fannie, along with its twin Freddie Mac, was saddled with billions of dollars in losses from the loans it bought in the lead-up to the crash. The mortgage bundler began to question whether banks misrepresented the quality of their loans and pressed them to buy back mortgages.(   07/02/2013 12:00 AM )

  • Cape Wind inks local firm for $15M in work

    The Cape Wind offshore wind project has signed a $15 million deal with a Falmouth company to do the upland construction work needed to bury the project's electric cables. Cape Wind said Monday that Lawrence-Lynch Corp. will also build a conduit between Cape Wind's buried land cables and its submerged ocean cables. Lawrence-Lynch president Chris Lynch said the deal is a great opportunity for his company and means work for both management and the local trades. The $2.6 billion Cape Wind project aims to be the nation's first offshore wind farm. The 131-turbine project was proposed in 2001 but has been delayed by lengthy reviews and opponents who say it will ruin Vineyard Sound and that its power is overpriced.(   07/02/2013 12:00 AM )

  • Tribune to acquire 19 TV stations for $2.73B

    Tribune Co. said Monday that it had reached a deal to buy Local TV Holdings LLC's 19 TV stations for $2.73 billion in cash, significantly boosting its television business as it looks to sell its newspaper operations. Tribune currently owns 23 TV stations and cable network WGN America, along with the Chicago Tribune, Los Angeles Times, and other newspapers. The deal will give it 42 stations, making the Chicago company one of the nation's top TV station owners. Tribune said it will be the number one commercial TV station group in the country, based on its broadcast reach into more than 50 million homes. The deal reshapes the broadcast media landscape and follows two recent broadcast acquisition deals by companies whose roots are in newspapers.(   07/02/2013 12:00 AM )

  • Vatican bank director, deputy resign amid scandal

    The director of the embattled Vatican bank and his deputy resigned Monday following the latest developments in a broadening finance scandal that has already landed one Vatican monsignor in prison and added urgency to Pope Francis' reform efforts. The Vatican said in a statement that Paolo Cipriani and his deputy, Massimo Tulli, stepped down ''in the best interest of the institute and the Holy See.'' Cipriani, along with the bank's then-president, was placed under investigation by Rome prosecutors in 2010 for alleged violations of Italy's anti-money-laundering norms after financial police seized 23 million euro ($30 million) from a Vatican account at a Rome bank. Neither has been charged and the money was eventually ordered released.(   07/02/2013 12:00 AM )

  • Buying good companies when the news is bad

    Casualty List Rockets Up 71% By John Dorfman July 2, 2013 (Maple Hill Syndicate) - The stocks I selected for my casualty list a year ago last July are up 70.9 percent in 12 months. They are: All four selections from last July were up: ? Western Digital Corp., a disk drive maker that I own personally and for clients, gained more than 112 percent. ? TRW Automotive Holdings Corp., which fits into an auto theme that I continue to believe in, returned 81 percent. ? Met Life Inc., the big insurer, was up 54 percent. ? Body Central Corp., (BODY),a clothing retailer, gained 36 percent. By comparison the Standard & Poor's 500 Index returned 20.3 percent. All figures are total returns, including reinvested dividends.(   07/02/2013 12:00 AM )

  • Icahn has $5.2 billion in financing to back Dell Proposal

    (bbg) (ATTN: Financial editors)NEW YORK -- Billionaire investor Carl Icahn said Monday he secured $5.2 billion in debt financing to support his latest attempt to scuttle the planned leveraged buyout of Dell Inc. by founder Michael Dell. (c) 2013, Bloomberg News. Icahn and his affiliates obtained the financing with help from Jefferies Group, which committed $1.6 billion, he said Monday in an open letter to Dell shareholders and directors. Icahn also called on the Round Rock, Texas-based company's special committee handling the proposed buyout to ''engage in a direct, face-to-face sit-down meeting'' with his group.(   07/02/2013 12:00 AM )

  • Covidien separates from pharma business

    Shares of healthcare products maker Covidien PLC slumped after the company said it completed the spinoff of its pharmaceuticals business, Mallinckrodt PLC, into a separate publicly traded company. Covidien, which bases its US headquarters in Mansfield, had disclosed the planned spinoff in December 2011. Covidien executives said the separation allows both firms to pursue their own strategiies. Mallinckrodt shares, which began trading on Monday, closed down 4.22 percent at $44.00.(   07/02/2013 12:00 AM )

  • Electronics chain up on analyst thumbs-up

    Best Buy Co. (BBY.N)shares reached a two-year high level after Credit Suisse agreed with the electronics chain's gave a thumbs-up to the turnaround efforts. of the world's largest electronics chainThe financial services firm resumed coverage of Best Buy stock with an outperform rating and raised its price target on the stock to $40. from $32. Its shares rose as much as 7.7 percent to $29.44, their highest level since July 2011Under CEO Hubert Joly, who took the helm last fallBest Buy has been matching rivals' online prices, dedicating more in-store space to faster-growing product categories, such as smartphones and tabletsand investing in employee training and revamping stores. "Best Buy is turning its store base from a cost liability to an offensive weapon," analyst Gary Balter wrote.(   07/02/2013 12:00 AM )

  • US stocks advance as stimulus concerns fade

    Eds: Updates throughout with close of trading. With AP Photos.NEW YORK (AP) --Investors have stopped worrying about the Fed -- at least for now. Stocks rose on Wall Street Monday as buyers figured judged that the economy still isn't growing fast enough for the central bank to cut its stimulus program. US manufacturing grew in June after a pickup in new orders and stronger production, according to the a private survey. The Institute for Supply Management. said its factory index increased to 50.9 in June from 49 in the previous month.The Standard & Poor's 500 index logged its first monthly decline since October last month after investors were unsettled by comments from Federal Reserve Chairman Ben Bernanke. Bernanke said last month that the Fed could ease back on its stimulus later this year and end it next year, providing the economy continues to recover''The market has ... stepped back from the knee-jerk reaction that the Fed news provided,'' said Jim Russell, a regional investment director at US Bank. ''The manufacturing ISM number came in strong enough -- not too hot, not too cold.''If the manufacturing report had been stronger, one investment executive said, Russell saidstocks might have fallen as investors speculated the Fed would be inclined to cut its bond buying. Also lifting markets wasa report that showed a rise in construction spending, which added to the picture of an improving economy.Construction spending rose 0.5 percent in May compared with April, when spending was up 0.1 percent. The Dow Jones industrial average gained 65.36 points, or 0.4 percent, to 14,974. The Dow gained as much as 173 points in during morning trading before drifting lower throughout the afternoon. The S&P 500 index rose 8.68 points, or 0.54 percent, to 1,614. The Nasdaq composite rose 31.24 points, or 0.9 percent, to 3,434. The Fed is currently buying $85 billion of bonds a month to keep interest rates low and encourage borrowing and spending. That stimulus has been a major factor supporting a rally in stocks this year and the threat of it being withdrawn made stock markets more volatile last month. The S&P 500 closed at a record high of 1,669 on May 21. A day later, stocks began dropping after minutes of a Fed meeting were released suggesting the stimulus could be scaled back. The sell-off picked up pace June 19, when Bernanke laid out a possible road map for ending the bond purchases. The S&P closed at 1,573 on June 24, almost 6 percent down from its record, before regaining some of its loss. The index is still up 13.2 percent this year. The market is more than twice as likely to gain as decline on the first trading day of a new quarter, according to data from S&P Dow Jones Indices. The index has risen 27 times and fallen 13 times during the past 10 years on the first trading day of the quarter. ''You're seeing new money come in to the markets as we are in a new quarter,'' said Quincy Krosby, a market strategist at Prudential Financial. ''New money is being put to work.'' Eight of the 10 industry groups that make up the S&P 500 index rose, led by materials companies, a category that includes miners and chemical makers, and industrial companies. Utilities and phone companies were the only ones to decline. This week's most closely watched economic release will be the government's monthly employment report Friday. Economists expect the U.S. added 165,000 jobs in June, a figure that would affirm the economy's steady, but slow, trajectory, said Scott Wren, a senior equity strategist at Wells Fargo Advisors. ''It's a confirmation of more of the same,'' said Wren. ''More modest growth, more modest inflation, but not a big acceleration.'' U.S. stocks also followed global markets higher. Japan's Nikkei 225 rose 1.3 percent, boosted by signs of improvement in Japan's economy. In Europe, stock indexes rose after a mixed set of economic indicators for the region. While unemployment in the 17 countries that use the euro rose to another record high in May, manufacturing picked up in Britain, France and Italy and stabilized in Spain. Germany's DAX index rose 0.3 percent and Britain's FTSE 100 index climbed 1.5 percent. The yield on the 10-year Treasury note was unchanged from Friday at 2.49 percent. The note's yield surged to 2.66 percent last Monday as investors worried that the Fed was poised to reduce on its bond purchases. The yield on the 10-year Treasury note is used to set interest rates on many kinds of loans including home mortgages. In commodities trading, the price of oil climbed $1.43, or 1.5 percent, to $97.99 a barrel. The price of oil rose on concerns that unrest in Egypt, the largest Arab nation, could spread and affect the transport of oil supplies in the Middle East and Africa. Gold rose $32, or 2.6 percent, to $1,255.70 an ounce. Trading will be curtailed this week due to the Independence Day holiday Thursday. The New York Stock Exchange will close at 1 p.m. on Wednesday and reopen on Friday. The dollar edged lower against the euro and rose against the Japanese yen. Among stocks making big moves: -- Onyx Pharmaceuticals surged $44.51, or 51 percent, to $131.33 after the company rejected a takeover bid from Amgen, a larger biotechnology company. Onyx said other companies have expressed interest in a buyout. -- Cablevision rose $1.62, or 9.6 percent, to $18.44 after Reuters reported that Time Warner Cable is considering making a bid for the company. -- Best Buy rose $2.41, or 8.8 percent, to $29.74 after Credit Suisse resumed its coverage of the stock with an ''outperform'' rating and a target price of $42. Analysts at the investment bank believe that the company's new approach to serving customers will help it increase its earnings.(   07/02/2013 12:00 AM )

  • Pilot suspended 5 months after Bay Bridge struck

    SAN FRANCISCO (AP) -- State officials on Monday suspended the license of a pilot for five months after an oil tanker sideswiped the San Francisco-Oakland Bay Bridge.(   07/01/2013 11:34 PM )

  • Jury convicts former doctor in Vegas hep C case

    LAS VEGAS (AP) -- A prominent former Las Vegas doctor and endoscopy clinic owner was convicted Monday of all 27 criminal charges against him -- including second-degree murder -- in a 2007 hepatitis C outbreak that officials called one of the largest ever in the U.S.(   07/01/2013 11:31 PM )

  • Transit strike to enter 2nd day in SF Bay area

    OAKLAND, Calif. (AP) -- Transit officials warned San Francisco Bay area commuters that train workers will likely strike a second day, and urged riders to find alternative transportation options.(   07/01/2013 11:29 PM )

  • Apple applies for 'iWatch' trademark in Japan

    TOKYO (AP) -- Apple Inc. has applied for a trademark in Japan for "iWatch" as rumors suggest it may be developing a smart wristwatch.(   07/01/2013 9:38 PM )

  • Pa. McDonald's franchise to offer more pay options

    A McDonald's franchise promised to give employees more payment options after it was sued by a former employee who said she was charged a fee to access her wages from a debit card.(   07/01/2013 9:31 PM )

  • San Diego chalk protester acquitted of vandalism

    SAN DIEGO (AP) -- A jury on Monday acquitted an activist of vandalism charges for chalking anti-bank slogans on San Diego sidewalks, delivering a swift verdict on a prosecution that the city's own mayor said was "stupid."(   07/01/2013 9:13 PM )

  • News summary: Tribune buys TV stations for $2.73B

    GOING LOCAL: Tribune Co. said it would buy Local TV and its 19 TV stations for $2.73 billion. The acquisition makes Tribune the nation's No. 1 local TV broadcaster and broadens its reach to nearly half the country, or more than 50 million households.(   07/01/2013 9:12 PM )

  • Tribune bulks up in broadcasting in $2.73B deal

    LOS ANGELES (AP) -- Tribune Co. on Monday announced a deal to buy Local TV and its 19 TV stations for $2.73 billion. The acquisition makes the media conglomerate the nation's No. 1 local TV broadcaster and broadens its reach to nearly half the country, or more than 50 million households.(   07/01/2013 9:06 PM )

  • NY man gets time served in Fla. hotel heir's death

    WHITE PLAINS, N.Y. (AP) -- A New York man who admitted being the driver for two other men in the beating death of a Florida millionaire was sentenced Monday to time served in connection to the 2009 killing.(   07/01/2013 8:52 PM )

  • States join US antitrust review of airline merger

    DALLAS (AP) -- The attorney general of Texas and counterparts in other states joined a U.S. Department of Justice review of the proposed merger between American Airlines and US Airways.(   07/01/2013 8:44 PM )

  • IRS disallows $2.86B in deductions taken by Tyco

    The IRS has informed Tyco International Ltd. that it has disallowed roughly $2.86 billion in interest and deductions recognized by the company in its U.S. tax returns for the 1997-2000 tax years, according to a filing Monday with the Securities and Exchange Commission.(   07/01/2013 8:26 PM )

  • NJ appellate court denies PokerStars appeal

    TRENTON, N.J. (AP) -- A New Jersey appellate court has rejected a bid by the world's largest online poker website to regain the right to buy an Atlantic City casino.(   07/01/2013 8:12 PM )

  • White House has coal country on the defensive

    COLSTRIP, Mont. (AP) -- After several years of taking a beating from the poor economy, new pollution rules and a flood of cheap natural gas, the coal industry was on the rebound this year as mining projects moved forward in the Western U.S. and demand for the fuel began to rise, especially in Asia.(   07/01/2013 7:37 PM )

  • Expanded version of WBUR's 'Here & Now' debuts on more than 300 NPR stations

    An expanded version of WBUR's midday news program "Here & Now" is set to debut Monday on more than 300 NPR stations across the country, taking the place of the long-running call-in show "Talk of the Nation." The partnership between WBUR and NPR on "Here & Now" represents the first time NPR has collaborated with a member station on a daily news program. "Here & Now," broadcast on WBUR airwaves since 1997, will grow from one hour to two and include reports from NPR journalists, along with content from 15 other NPR member stations. Host Robin Young will team with Jeremy Hobson, a former producer at WBUR and most recently the host of American Public Media's "Marketplace Morning Report."(   07/01/2013 7:13 PM )

  • Zynga CEO steps down, Microsoft exec to take post

    NEW YORK (AP) -- He's not heading out to pasture, but the CEO of "FarmVille" maker Zynga Inc. is stepping aside as the troubled online game company looks to revive itself and lift its stalled stock price.(   07/01/2013 6:54 PM )

  • Yahoo buys Bignoggins for more bright ideas

    SUNNYVALE, Calif. (AP) -- Yahoo has bought Silicon Valley startup Bignoggins Productions as part of its quest for more bright ideas in mobile applications.(   07/01/2013 6:25 PM )

  • Miami man pleads guilty to $90M heist in Conn.

    NEW HAVEN, Conn. (AP) -- A man accused in the theft of about $90 million in prescription drugs from a warehouse, believed to be the largest theft in state history, pleaded guilty on Monday.(   07/01/2013 6:11 PM )