Business

Business Apple's CEO faces tough Senate questions on untaxed profits

By MARCY GORDON, AP Business Writer Published: May 21, 2013 at 10:45 AM PDT Last Updated: May 21, 2013 at 1:10 PM PDT

The Senate dragged massively profitable Apple Inc. into the debate over the U.S. tax code Tuesday, grilling CEO Tim Cook over allegations that its Irish subsidiaries help the company avoid billions in U.S. taxes.

Business Average credit card debt, late payments fall in 1st quarter

By ALEX VEIGA, AP Business Writer Published: May 21, 2013 at 8:47 AM PDT Last Updated: May 21, 2013 at 8:47 AM PDT

Americans got better about paying their credit card debt on time in the first three months of the year, a period when many borrowers use income tax returns to tackle their holiday season debt.

Business SBA starting new lending program for veterans

By JOYCE M. ROSENBERG, AP Business Writer Published: May 21, 2013 at 8:45 AM PDT Last Updated: May 21, 2013 at 8:45 AM PDT

The Small Business Administration says it has lined up pledges from more than 120 banks to increase lending to veterans.

Business GM to invest $44.5 million in Lansing Cadillac factory

By Associated Press Published: May 21, 2013 at 8:37 AM PDT Last Updated: May 21, 2013 at 8:37 AM PDT

General Motors says it will invest $44.5 million at a Lansing, Mich., factory, creating 200 new jobs.

Business Senators agree to expansion of high-tech visas

By DAVID ESPO and ERICA WERNER, Associated Press Published: May 21, 2013 at 8:35 AM PDT Last Updated: May 21, 2013 at 8:35 AM PDT

Officials say leading senators trying to resolve a key issue on immigration legislation have agreed to a compromise covering expansion of a high-tech visa program.

Business Does France have right plan to revive its economy?

By SARAH DiLORENZO, AP Business Writer Published: May 21, 2013 at 8:32 AM PDT Last Updated: May 21, 2013 at 8:32 AM PDT

The man charged with reviving France's shrinking economy and attracting businesses to invest here is gaining a reputation for doing the opposite.

Business Portland stove startup to open office in Kenya

By Andy Giegerich, Sustainable Business Oregon Published: May 20, 2013 at 11:55 AM PDT Last Updated: May 20, 2013 at 11:59 AM PDT

A Portland company that makes clean-burning cookstoves is opening its second office in a very far-off market.

Business Economists predict increase in consumer spending

By Associated Press Published: May 20, 2013 at 8:30 AM PDT Last Updated: May 20, 2013 at 11:51 AM PDT

Consumer spending is likely to pick up this year, while government spending declines at a faster rate, according to a survey of business economists.

Business Earnings preview: PC slump hangs over HP's 2nd quarter

By Associated Press Published: May 20, 2013 at 8:28 AM PDT Last Updated: May 20, 2013 at 8:28 AM PDT

Hewlett-Packard's latest quarterly results will show how badly the deteriorating personal computer market damaged the company while CEO Meg Whitman tries to expand into more profitable areas of technology.

Business NBC hires news division chief from Britain

By Associated Press Published: May 20, 2013 at 8:22 AM PDT Last Updated: May 20, 2013 at 8:22 AM PDT

NBC has gone out of the company and out of the country to find a president for its news division.

Business Ryanair keeps growing, reports record profits

By SHAWN POGATCHNIK, Associated Press Published: May 20, 2013 at 8:19 AM PDT Last Updated: May 20, 2013 at 8:19 AM PDT

Ryanair reported record profits Monday as Europe's largest budget airline relentlessly expanded its route network across the continent and into North Africa.

Business Tons of New Zealand meat stranded on Chinese docks

By NICK PERRY, Associated Press Published: May 20, 2013 at 8:17 AM PDT Last Updated: May 20, 2013 at 8:17 AM PDT

Hundreds of tons of frozen mutton, lamb and beef from New Zealand have been stranded on Chinese docks after China halted their import due to a certification dispute.

Business Chase Bank's Dimon under pressure ahead of investor vote

By CHRISTINA REXRODE,AP Business Writer Published: May 19, 2013 at 2:15 PM PDT Last Updated: May 19, 2013 at 2:15 PM PDT

Jamie Dimon, chairman and CEO of the country's biggest bank, faces a key test this week: His shareholders are voting on whether to let him keep both jobs.

Business US gas prices up 11 cents over past 2 weeks

By Associated Press Published: May 19, 2013 at 2:04 PM PDT Last Updated: May 19, 2013 at 2:04 PM PDT

The Lundberg Survey of fuel prices released Sunday says the price of a gallon of regular is $3.66. Midgrade costs an average of $3.84 a gallon, and premium is $3.98.

Business AP CEO calls records seizure unconstitutional

By PHILIP ELLIOTT, Associated Press Published: May 19, 2013 at 3:07 PM PDT Last Updated: May 19, 2013 at 3:07 PM PDT

Gary Pruitt, in his first television interviews since it was revealed the Justice Department subpoenaed phone records of AP reporters and editors, said the move already has had a chilling effect on journalism.