Amazon 1Q beats estimates, stock jumps
SEATTLE -- Amazon.com Inc. posted first-quarter profits Thursday that blew by analysts' estimates and caused the company's stock to jump in extended trading.
Business News
Starbucks says profit rose 18 percent in 2Q
NEW YORK -- Starbucks Corp. perked up its net income by 18 percent in its fiscal second quarter, as more customers visited its cafes around the world.
Feds probing insider trading by Goldman exec
WASHINGTON -- A lawyer for Goldman Sachs investment banker Matthew Korenberg says his client is the subject of a long-running probe by federal prosecutors in California.
Pa.: fewer than 30 health complaints on drilling
PITTSBURGH -- The Pennsylvania Department of Health said this week that it has received fewer than 30 complaints over the last year from people who feel natural gas drilling has affected their health, but it's not clear how many came before that. Last June the agency head suggested it had already received several dozen.
S&P cuts Spain's long-term credit rating 2 notches
NEW YORK -- Standard & Poor's says it's lowering Spain's long-term credit rating by two notches, saying the country's budget problems are likely to get worse because of its weak economy.
Father, son indicted in $10M Navy kickbacks case
PROVIDENCE, R.I. -- A civilian engineer from Virginia who worked for the Naval Sea Systems Command and his 80-year-old father were indicted on Thursday in an alleged bribery and fraud plot that prosecutors say cost the U.S. Navy $10 million over 15 years.
US unemployment aid requests near 3-month high
WASHINGTON -- The number of people seeking U.S. unemployment benefits remained stuck near a three-month high last week, a sign that hiring has likely slowed since winter.
Chrysler posts best quarterly profit in 13 years
DETROIT -- Chrysler followed its strong first-quarter sales with a big profit, sending its 2009 brush with financial death farther into the rearview mirror.
US rate on 30-year mortgage dips to 3.88 percent
WASHINGTON -- The average rate on the 30-year fixed mortgage has dipped to near its record low, keeping home-buying and refinancing affordable.
Contracts for US homes rose last month
WASHINGTON -- The number of Americans who signed contracts to buy U.S. homes rose in March, the latest sign the battered housing market is slowly improving.
Hubbub over content rights greets Google Drive
SAN FRANCISCO -- Google is already facing spasms of suspicion and confusion as it tries to persuade people to entrust their personal documents, photos and other digital content to the company's new online storage service.
Exxon Mobil 1Q profit drops 11 percent
NEW YORK -- Exxon Mobil says first-quarter net income dropped 11 percent on lower production and weaker profits from its chemicals and U.S. refining businesses.
Parent of United Airlines posts 1Q loss
UNDATED -- The parent of United Airlines lost $448 million in the first quarter as it dealt with higher fuel prices and hiccups in its integration with Continental Airlines.
UPS 1Q profit up, but international business slows
ATLANTA -- UPS says profit rose 6 percent in the first quarter as an improving domestic shipping business made up for a slowdown overseas.
Apple's blowout quarter propels Nasdaq to big gain
NEW YORK -- The Nasdaq composite index is closing more than 2 percent higher, its biggest gain of the year, powered by a surge in Apple.
APNewsBreak: Burger King makes cage-free promise
Burger King on Wednesday became the first major U.S. fast-food chain to pledge that all of its eggs and pork will come from cage-free chickens and pigs by 2017.
Mexico says it will investigate Wal-Mart scandal
MEXICO CITY -- Mexico's federal anti-corruption agency says it will investigate whether federal officials were involved in payments allegedly made by U.S. retailer Wal-Mart to speed up permits for building stores in Mexico.
NY, Fla. associates of 'mini-Madoff' arrested
CENTRAL ISLIP, N.Y. -- Four associates of a New York businessman convicted in a $400 million Ponzi scheme were arrested Wednesday on charges they pocketed nearly $38 million in commissions for their efforts in advancing the fraud, federal prosecutors said.
Apple CEO Tim Cook emerges from Steve Jobs' shadow
NEW YORK -- Apple CEO Tim Cook has long seen as the humorless and unemotional guy running the show from behind the scenes. But he is beginning to reveal a more assertive and eloquent side, hinting that he's learning to shoulder more of Steve Jobs' role as a front man and leader.
Judge hears details of Gulf oil spill settlement
NEW ORLEANS -- A federal judge says he is "leaning in favor of" granting preliminary approval to a proposed class-action settlement that would resolve billions of dollars in claims against BP over the 2010 oil spill in the Gulf of Mexico.
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