ALL RECENT AP STORIES

The Chinese arm of Wynn Resorts Ltd. said it received approval on Wednesday for a new casino in the Cotai district of Macau, the world's most lucrative gambling market. Wynn Macau Ltd. said the government of the southern Chinese gambling enclave published formal approval of a land transfer, paving the way for construction to begin on the 21 hectare (51 acre) site. U.S. billionaire Steve Wynn, the founder, chairman and CEO of Wynn Resorts, said the Cotai development is the "single most important...

The Chinese arm of Wynn Resorts Ltd. said it received approval on Wednesday for a new casino in the Cotai district of Macau, the world's most lucrative gambling market. Wynn Macau Ltd. said the government of the southern Chinese gambling enclave published formal approval of a land transfer, paving the way for construction to begin on the 21 hectare (51 acre) site. U.S. billionaire Steve Wynn, the founder, chairman and CEO of Wynn Resorts, said the Cotai development is the "single most important...

Secretary of State Hillary Rodham Clinton arrived Wednesday in Beijing, where a tense human rights showdown awaits over the fate of a blind Chinese lawyer said to be under U.S. protection after escaping from house arrest. The issue of Chen Guangcheng's future threatens to overshadow this year's round of high-level strategic and economic talks between the world's two biggest economic powers. Those talks begin Thursday. Publicly, the U.S. and Chinese governments have said nothing about the Chen...

Asian stock markets rose Wednesday after a burst of manufacturing growth in the U.S. pushed the Dow Jones industrial average to its highest close in more than four years. Japan's Nikkei 225 inched up less than 0.1 percent at 9,354.45 after a sharp tumble the day before. Other Asian markets opened higher following public holidays. Hong Kong's Hang Seng gained 0.8 percent to 21,258.14. Benchmarks in Taiwan, Singapore and mainland China also rose. U.S. manufacturing expanded last month at its strongest...

One of Australia's largest banks, ANZ Banking Group, on Wednesday posted a 10 percent increase in its first half profit to 2.92 billion Australian dollars ($3.02 billion) but warned margins in its Australian business were declining. The Melbourne-based bank's net profit for the six months to March 31 was up from AU$2.66 billion in the previous corresponding period. Analysts had expected a higher net profit of about AU$2.96 billion. Australian banks proved resilient against the global economic...

A communications company wants a California appellate court that reversed a $603 million breach-of-contract verdict against the Boeing Co. to grant a new hearing before a new panel of justices. ICO Global Communications filed a petition Monday claiming due process was violated when two 2nd District Court of Appeal justices disqualified themselves after months of arguments. The filing did not specify why Associate Justice Elizabeth Grimes recused herself. She was replaced by Presiding Justice...

DIGITAL BEAT: CBS Corp. said first-quarter net income rose 80 percent to $363 million, or 54 cents per share, thanks to digital licensing deals for its content. That blew by the 44 cents expected by analysts. Revenue rose 12 percent to $3.92 billion, topping the $3.79 billion expected. NETFLIX TAILWIND: CEO Les Moonves said that around $30 million in extra revenue came from a deal with Netflix to carry streams of shows from CBS's Showtime pay TV channel, like "Dexter" and "Californication." SHARE...

Toyota is back. It's putting a year of earthquake-related shortages behind it and grabbing sales from stumbling General Motors and Ford. Toyota's sales rose 12 percent in April, and its share of the market returned to levels it hasn't seen since before the March 2011 earthquake in Japan. Its sales outpaced the industry as a whole, which saw growth of 2.3 percent last month, according to Autodata Corp. Toyota's resurgence could mean better deals as its rivals fight for customers by offering discounts...

Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and Nasdaq Stock Market: NYSE Chesapeake Energy Corp., up $1.16 at $19.60 Aubrey McClendon gave up his title as chairman of the oil company following a loan controversy. He will remain as chief executive. Avon Products Inc., down $1.73 at $19.87 The beauty products seller's first-quarter profit dropped 82 percent, hurt by a bigger restructuring charge and higher costs. Archer Daniels Midland Co., up $2.19...

P.F. Chang's is being acquired and taken private in a deal valued at $1.09 billion CEO Rick Federico said Tuesday that the deal with Centerbridge Partners LP will give the company greater flexibility in improving its restaurants. The Scottsdale, Ariz., company, which operates its namesake restaurants, Pei Wei Asian Diners, has been struggling to update its brand amid growing competition. Earlier this month, P.F. Chang's rolled out a new menu to lure more budget-conscious diners. New York's Centerbridge...

Collective Brands Inc., which owns the shoe store chains Payless and Stride Rite, is being acquired for about $1.32 billion by a group that includes the owner of Hush Puppies. Collective, which has been looking for a buyer since August, has agreed to an offer from a group including Hush Puppies' Rockford, Mich.-based owner Wolverine Worldwide Inc. and private investment firms Blum Capital Partners and Golden Gate Capital. The transaction will split Payless and the company's brand development...

Avon Product's new CEO, on the job for a week, said Tuesday she plans to review every aspect of the beauty seller's business, including its operating model, cost structure and product portfolio. Sherilyn S. McCoy says she also plans to visit key markets like Brazil and China, as she works on a plan to stabilize results. Avon's first-quarter results on Tuesday show the former Johnson & Johnson executive has her work cut out for her. The New York company's net income fell 82 percent, hurt...

U.S. auto sales rose 2.3 percent in April over last year. Here are the top selling cars and trucks for the month, and the percent sales rose or fell over April 2011. Note that Toyota Prius sales include three versions (the Prius V, Prius C and plug-in hybrid Prius) that weren't on sale in April 2011, in addition to the standard Prius. Vehicle April 2012 sales Percent change from April 2011 Ford F-Series 47,453 4.4 percent Toyota Camry...

The fastest growth in U.S. manufacturing in 10 months gave stocks a lift Tuesday and pushed the Dow Jones industrial average to its highest close in more than four years. Manufacturing expanded last month at the strongest pace since June, according to the Institute for Supply Management. Orders, hiring and production all rose. A measure of manufacturing employment also reached a nine-month high, a hopeful sign ahead of Friday's monthly jobs report. The manufacturing news jolted stock indexes...

Toyota and Chrysler saw big U.S. sales gains in April, but they came at the expense of General Motors and Ford. Toyota sales rose 12 percent as its inventories finally returned to pre-earthquake levels. Chrysler posted a 20-percent rise in sales. Its top sellers included the Ram pickup and Chrysler 200 midsize sedan, which benefited from big rebates of $2,000 or more, analysts said. GM sales fell 8 percent, hurt by new products and aggressive marketing from competitors. Ford sales fell 5 percent...

Here are sales figures for the first quarter for top-selling Pfizer prescription drugs: PRODUCT NAME MAIN CONDITION/USE 1Q 2011 SALES 1Q 2010 SALES PERCENT CHANGE Lipitor High cholesterol $1.4 billion $2.4 billion down 42 percent Lyrica Fibromyalgia/pain $955 million $826 million up 16 percent Enbrel (outside U.S.) Rheumatoid arthritis $899 million $870 million up 3 percent Prevnar 7/Prevnar 13 Pneumococcal vaccine...

PROFIT PLUNGE: Drugmaker Pfizer's first-quarter net income fell 19 percent to $1.79 billion, or 24 cents per share, mainly due to new generic competition and $2.6 billion in legal, restructuring and other charges. LIPITOR LOWER: In the first full quarter since blockbuster cholesterol pill Lipitor lost U.S. patent protection, its sales fell 71 percent in the U.S. and 42 percent worldwide, to $1.4 billion. But big discounts to insurers and patients helped retain a third of the market, far more than...

___ Stronger Toyota helps boost US auto sales in April DETROIT (AP) _ Toyota is back. It's putting a year of earthquake-related shortages behind it and grabbing sales from stumbling General Motors and Ford. Toyota's sales rose 12 percent in April, and its share of the market returned to levels it hasn't seen since before the March 2011 earthquake in Japan. Its sales outpaced the industry as a whole, which saw growth of 2.3 percent last month, according to Autodata Corp. Toyota snatched buyers...

MANUFACTURING GROWS: A private survey found that U.S. manufacturing grew in April at the fastest pace in 10 months, suggesting that the economy is healthier than recent data had indicated. BROAD-BASED GAINS: The survey by the Institute for Supply Management, a trade group of purchasing executives, found that factory employment rose to a 10-month high. That indicates that factories are hiring at a solid pace. REASSURING REPORT: Economists said the report shows the economy has staying power. A...

Retailers are paying significantly less every time a customer swipes a debit card under a rule capping the fees that banks are allowed to charge. The Federal Reserve says in a report Tuesday that the average fee paid by merchants for debit card transactions covered by the rule was 24 cents in the fourth quarter of 2011. That compares with an average of 43 cents before the Fed's rule took effect Oct. 1. The rule was mandated under the 2010 financial overhaul law. For most transactions, banks can...

FOUR-YEAR HIGH: The Dow Jones industrial average added 65.69 points to 13,279.32. That's its highest closing mark since Dec. 28, 2007, during the first month of the Great Recession. MAY SURPRISE: Manufacturing expanded last month at the strongest pace since June, according to the Institute for Supply Management. Orders, hiring and production all rose. CHESAPEAKE'S PERKS: Chesapeake Energy Corp. jumped 6 percent after CEO Aubrey McClendon was stripped of his chairman's title. McClendon, Chesapeake's...

Key barometers in the Treasury market late Tuesday, compared with late Monday. Price changes in the 10-year note and 30-year bond are per $100 invested: Today Previous session 10-year note +31.2 cents +19 cents 30-year bond +62.5 cents +15 cents --- --- --- 1-month bill 0.05 0.07 3-month bill 0.09 0.09 6-month bill 0.14 0.15 2-year...

Chesapeake Energy founder Aubrey McClendon was stripped of his chairmanship role Tuesday following shareholder complaints that his personal business interests could conflict with those of the company he runs. McClendon will remain CEO. The company's board said it's searching for an independent chairman. The board has been feeling the heat from shareholders after reports surfaced that McClendon took out more than $1 billion in loans to pay for his stake in the company's wells. He was allowed to...

Shareholders of Bristol-Myers Squibb Co. on Tuesday voted down a shareholder proposal to publicly report on its handling of laboratory animals and to seek other ways to test experimental drugs, while animal rights activists demonstrated outside the drugmaker's annual meeting. Shareholders gathered inside a Bristol-Myers sales and administration office building in Plainsboro, N.J., also voted along with the company's recommendations on another shareholder proposal, election of board members and...

The Dow Jones industrial average closed at its highest level in more than four years. The fastest growth in U.S. manufacturing in 10 months gave stocks a lift Tuesday. Orders, hiring and production all rose in April. All 10 industry groups within the Standard & Poor's 500 index were higher, led by energy companies. The Dow Jones industrial average rose 65.69 points, or 0.5 percent, to close at 13,279.32. The Standard & Poor's 500 rose 7.91 points, or 0.6 percent, to 1,405.82. The Nasdaq...

APRIL SALES: Americans bought 1.18 million cars and trucks in April, up 2.3 percent from a year earlier. Sales were still strong, but growth slowed a bit from earlier in the year. Analysts said there's no sign that the auto sales recovery is faltering. Toyota made a comeback while General Motors and Ford stumbled. WHAT THEY BOUGHT: There were bright spots and lows in just about every corner of the market. Fuel-efficient cars were still hot sellers. Sales of Toyota's Prius gas-electric hybrids...

U.S. manufacturing grew last month at the fastest pace in 10 months, suggesting that the economy is healthier than recent data had indicated. New orders, production and a measure of hiring all rose. The April survey from the Institute for Supply Management was a hopeful sign ahead of Friday's monthly jobs report and helped the Dow Jones industrial average end the day at its highest level in more than four years. The trade group of purchasing managers said Tuesday that its index of manufacturing...

Arch Coal Inc. said Tuesday that "severe weakness" in the U.S. market for coal used to generate electricity cut sharply into its first-quarter earnings and forced it to further curtail production for the year. Falling well short of Wall Street's expectations, the St. Louis-based company's said its net income during the January-March quarter totaled $1.2 million, or a penny a share, compared with $55.6 million, or 34 cents a share, a year ago. Revenue was $1.04 billion, up 19 percent from $872.9...

Figures on government spending and debt (last six digits are eliminated). The government's fiscal year runs Oct. 1 through Sept. 30. Total public debt subject to limit April 30 15,649,863 Statutory debt limit 16,394,000 Total public debt outstanding April 30 15,692,368 Operating balance April 30 166,619 Interest fiscal year 2012 through March 121,712 Interest same period 2011 ...

Oil prices rose Tuesday after growth in the U.S. and Chinese manufacturing sectors signaled more demand for energy products. Here's how energy contracts traded. On the New York Mercantile Exchange: Benchmark crude rose $1.29 to end at $106.16 per barrel. Gasoline fell 2.75 cents to end at $3.0971 per gallon. Heating oil fell 0.71 cent to end at $3.1771 per gallon. Natural gas rose 8.6 cents to end at $2.371 per 1,000 cubic feet. On the ICE Futures exchange in London: Brent crude rose 19...

Key currency exchange rates Tuesday, compared with late Monday in New York: Dollar vs: Exchange Rate Pvs Day Yen 80.21 79.81 Euro $1.3228 $1.3243 Pound $1.6220 $1.6232 Swiss franc 0.9079 0.9073 Canadian dollar 0.9852 0.9873 Mexican peso 12.8824 13.0352 Metal Price (troy oz.) Pvs Day NY Merc Gold $1661.70 $1663.40 NY HSBC Bank US $1663.00 $1665.00 ...

Generic competition for Pfizer Inc.'s blockbuster cholesterol pill Lipitor is starting to cut into the bottom line of the world's biggest drugmaker, as expected. The best-selling drug in the industry's history saw its U.S. patent expire on Nov. 30, ushering in a rival's generic version and an authorized one Pfizer markets with a partner. But brand-name Lipitor hung onto about a third of the market in the first quarter _ far more than normally would be expected _ thanks to Pfizer offering big insurer...

The top 25 U.S. newspapers by average weekday and Sunday circulation from October to March. The figures include digital editions such as those on tablet computers or restricted websites as well as branded editions, which include regional editions or those tailored for commuters. 1. The Wall Street Journal _ 2,118,315 weekday; no Sunday edition. 2. USA Today _ 1,817,446 weekday; no Sunday edition. 3. The New York Times _ 1,586,757 weekday; 2,003,247 Sunday. 4. Los Angeles Times _ 616,575 weekday...

To say that the head of Dubai's Emirates airline wears many hats is something of an understatement. Sheik Ahmed bin Saeed Al Maktoum holds several government positions in the Gulf city-state, and is an uncle of Dubai's ruler. He was appointed chairman of Dubai World in 2010 to oversee the troubled state conglomerate's turnaround plan. But it is role at the helm of Emirates airline for which Sheik Ahmed is best known. The University of Denver graduate became chairman of the newly formed airline...

About 800 union workers who rejected Caterpillar Inc.'s latest contract offer walked off the job Tuesday at a plant in Joliet. Workers with picket signs lined up outside the plant early Tuesday, just hours after their contract expired. The employees, part of the International Association of Machinists and Aerospace Workers, are asking for better wages and health care. They voted Sunday to reject the Peoria-based company's latest contract offer. "About 94 percent of the members voted against...

Sears Holdings Corp.'s stock jumped Tuesday after the retailer said it expects to post a first-quarter profit because of a large gain from the sale of some U.S. and Canadian stores. The company also said a key revenue metric declined, as sales of consumer electronics were weak at both its Sears and Kmart stores. Investors were enthused about the first-quarter guidance, sending Sears' stock up $9.47, or 17.6 percent, to $63.25 in afternoon trading. The shares have jumped 66 percent for the year...

A look at the five people tied to Rupert Murdoch's global News Corp. media empire who were criticized Tuesday by U.K. lawmakers in a report on the British phone hacking scandal: RUPERT MURDOCH The 81-year-old billionaire is chief executive of News Corp., a global media company that controls properties from Britain's Sun newspaper to America's Fox News Channel. Murdoch began building his power in Britain in the 1980s by adding The Times and The Sunday Times to his stable of media properties,...

Fast-growing Etihad Airways has taken a nearly 3 percent stake in Aer Lingus as part of a strategy to build closer bonds with the Irish carrier, the airline said Tuesday. The move appears part of a wider Etihad effort to seek stakes in overseas carriers to gain a possible edge in its rivalries with Gulf carriers Emirates and Qatar Airways. It did not disclose how much it paid for the shares. "Etihad Airways believes a possible partnership could produce significant commercial benefits for both...

A policy barring foreign tourists from buying marijuana in the Netherlands went into effect in parts of the country Tuesday, with attention focused on the southern city of Maastricht, where a cafe was warned over violating the ban and around 200 smokers marched in protest. Weed is technically illegal in the Netherlands, but it has been sold openly for decades in small amounts in designated cafes known as "coffee shops" under the country's famed tolerance policy. Under a government policy change,...

The DuPont Co. has acquired full ownership of Solae LLC, a soy ingredients producer that had been a joint venture with Bunge Ltd., an agribusiness and food company based in New York. DuPont, which previously owned 72 percent of Solae, acquired the 28 percent stake held by Bunge for about $440 million. DuPont Executive Vice President James Borel said Tuesday that full ownership of St. Louis-based Solae, coupled with DuPont's acquisition of Danish food ingredients company Danisco last year, boosts...

About a dozen women who stripped down to their underwear were among 100 protesters outside Cambodia's National Assembly on Tuesday demanding land titles they said they were promised after being evicted from their homes. The protesters said they had been residents of Phnom Penh's Boueng Kak lake area whose land was awarded by the government to a Chinese company to be redeveloped as a satellite city with a hotel, office buildings and luxury housing. They said the demonstration was the beginning...

Pat LaFrieda Jr. can't get enough chicken thighs. If his family business featured on the new Food Network series "Meat Men" orders 100 cases of boneless, skinless thighs, his supplier might deliver only 60. That's because consumers have discovered something chefs have long known about dark meat: "It was always the least expensive protein that you could buy, but it had the most amount of flavor," LaFrieda said. Thighs and drumsticks are climbing the pecking order as Americans join consumers abroad...

The powerful waves of the Atlantic Ocean crash against rusting hulks beached along the coastline just outside of Nigeria's largest city, as lines of cargo ships waiting to come to port stretch across the western horizon. Government officials say they don't know how many abandoned ships choke Nigeria's waterways, but they cause tremendous environmental and navigational hazards. And as more wash ashore daily, the massive vessels cause fast-moving erosion along Nigeria's beaches that can tear away...

Lending to small business is slowing, possibly a sign of deteriorating confidence in the economy from entrepreneurs. A study released Tuesday by PayNet, a research firm that tracks loans to small business, shows that lending fell 3 percent in March. The Thomson Reuters/PayNet Small Business Lending Index was at 98.5 in March, down from a revised 101.8 in February. The index was at 110.5 in December, when companies were rushing to acquire equipment before the expiration of lucrative tax deductions...

Wild Turkey's first-ever television ad campaign in the U.S. offers a new twist to giving someone the bird. The 157-year-old brand is the latest Kentucky bourbon making a splash on television, showing the once-stodgy category has a sense of humor in projecting a more hip image. It comes as bourbon rides a wave of popularity, due in part to the comeback of cocktails appealing to younger adults. And it's a sign bourbon is willing to muscle into the marketing terrain of vodka and other spirits....

A former airport catering company manager has been charged with embezzlement and forgery worth 138 million kroner ($24.5 million). Prosecutor for economic crimes Jens Madsen says Amanda Nyholm Jacobsen spent the money on an expensive house in Denmark, cars, watches, jewelry, art and private trips during 2008-2011. Madsen on Tuesday called it "an unusual case because of the large sum of money." Nyholm Jacobsen, former head of Gate Gourmet in Copenhagen, earlier confessed fraud worth 120 million...

U.K high street lender Lloyds Banking Group on Tuesday reported a modest net profit of 2 million pounds ($3.2 million) in the first quarter when its performance beat market expectations. The company, 40 percent owned by U.K. taxpayers, also recorded a pretax profit of 288 million pounds ($467 million) in the first quarter, which included a 375 million provision to compensate customers for missold insurance. In the previous quarter, it made a 316 million pounds net profit and a loss of 3.5 billion...

The new CEO of struggling BlackBerry maker Research in Motion Ltd. will make his first major speech Tuesday amid the company's difficulties competing with flashier, consumer-oriented phones such as Apple's iPhone and models that run Google's Android software. Thorsten Heins, who took the CEO job in January after longtime chiefs Jim Balsillie and Mike Lazaridis stepped aside, will deliver the morning keynote at BlackBerry World, an annual conference in Orlando, Fla., for corporate customers, software...

Malaysia marked Labour Day with Prime Minister Najib Razak announcing plans for the first minimum wage for private-sector employees in a move that would benefit more than 3 million low-income workers. The opposition Socialist Party held a peaceful rally in downtown Kuala Lumpur on Tuesday, demanding higher wages and labelling the scheme as a "satire for the election" expected in the next few months. Some small and medium-size businesses are also worried it would hurt their competitiveness. In...

Australia's central bank slashed its benchmark interest rate by half a percentage point on Tuesday, a larger-than-expected cut that comes amid a slump in the housing market and lackluster growth in the nation's economy outside the booming mining sector. The decision by the Reserve Bank of Australia to lower the official cash rate to 3.75 percent follows the release last week of relatively weak inflation data. Economists had widely predicted a cut of only a quarter percentage point. The last interest...

Chinese manufacturing expanded for a fifth straight month in April in data that analysts say indicate the country's economic activity is picking up moderately. The state-affiliated China Federation of Logistics and Purchasing said Tuesday that its purchasing managers index, or PMI, rose 0.2 percentage points to 53.3 percent in April, up from March's 53.1 and February's 51.0. A reading above 50 signifies expansion. Economic growth slowed to 8.9 percent in the final quarter of last year after Beijing...

Delta Air Lines is doing what anybody with a huge gas bill dreams of doing _ buying an oil refinery to make its own fuel. Delta said Monday that it will pay $150 million for a refinery near Philadelphia that is being sold by division of ConocoPhillips. It's aiming to slice $300 million a year from its jet fuel bill. Jet fuel is the refinery product that garners the fattest profit margin, "and they're taking it from airlines," Delta CEO Richard Anderson said. It's the first time that an airline...

Employee 401(k) accounts grew nearly 8 percent last quarter as a surging stock market boosted investment returns and worker contributions increased. Fidelity Investments, the nation's largest 401(k) administrator, said on Tuesday that the average balance among its nearly 12 million accountholders was $74,600 at the end of March. That's up from $69,100 at the end of 2011. Fidelity attributed about 80 percent of the increase to investment performance. Stocks rallied nearly 13 percent, the market's...

Americans increased their spending more slowly in March, a sign that scant pay increases may be causing consumers to become more cautious. Their spending rose 0.3 percent last month, just one-third the increase in February. Slow wage growth and softer consumer spending gains are the latest evidence that the economy might be weakening after a strong first two months. Economists say a warm winter made the economy look better because it caused some activity that normally occurs in spring _ from...

A top executive at government-controlled mortgage giant Freddie Mac is leaving the company about a year after he was promoted to oversee its single-family mortgage business. Anthony Renzi resigned to accept a job with another financial company, Freddie CEO Edward Haldeman said Monday in an internal email. The other company wasn't named. Renzi's departure as executive vice president of single-family business and operations and technology takes effect next month. The move is the latest in a series...

Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and Nasdaq Stock Market: NYSE Barnes & Noble Inc., up $7.07 at $20.75 Technology company Microsoft is teaming up with the bookseller to set up a new company that will hold its digital and college businesses. Sunoco Inc., up $8.38 at $49.29 Natural gas pipeline company Energy Transfer Partners said it is buying the oil pipeline company in a deal valued at $5.3 billion. NYSE Euronext Inc., down $1.32...

Humana Inc. said Monday that its first-quarter profit fell 21 percent as the health insurer paid out more in claims and beefed up spending to handle expected growth in its lucrative Medicare Advantage membership. The company, based in Louisville, nudged up its earnings expectations for the full year to a range of $7.55 to $7.75 per share, up from its prior forecast of $7.50 to $7.70 per share. But the first-quarter results and the increased forecast were short of Wall Street expectations. Its...

News that Spain had entered another recession renewed worries about the fragility of Europe's finances Monday and nudged stocks lower. The market ended its first losing month this year. Disappointing economic reports and weak corporate earnings also weighed on stocks. The Standard & Poor's 500 index slipped 5.45 points to close at 1,397.91. For April, it was down 0.8 percent, its first month in the red since November. The Spanish government said that the country's economy shrank in the first...

A group of financial institutions and pension funds trying to buy the operator of Canada's main stock exchange is extending its takeover offer to the end of July. The Maple Leaf Group conceded last week that the bid for the owner of the Toronto Stock Exchange was unlikely to receive regulatory approval before the deadline. Maple Group needs regulatory approvals to merge TMX with the alternative Alpha and CDS, which are owned by the major players in the Canadian securities industry, several of...

Interest rates on short-term Treasury bills rose in Monday's auction, and rates on three-month bills climbed to their highest level since late February. The Treasury Department auctioned $30 billion in three-month bills at a discount rate of 0.095 percent, up from 0.08 percent last week. Another $28 billion in six-month bills sold at a discount rate of 0.145 percent, up from 0.13 percent last week. The three-month rate was the highest since these bills averaged 0.115 percent on Feb. 27. The six-month...

Monster Beverage Corp.'s shares soared on Monday following a report that Coca-Cola Co. was considering buying the energy drink maker, but the world's biggest soft drink maker later denied the discussions are under way. The Wall Street Journal cited unnamed people in reporting that Coca-Cola was in talks to buy Monster. If a deal transpired, Monster would be Coca-Cola's largest brand acquisition ever. Coca-Cola said late Monday that no such discussion is in process. Monster declined to discuss...

SPAIN SHRINKS: News that Spain's economy entered another recession renewed worries about the fragility of Europe's finances Monday and nudged stocks lower. The worry is that Spain's size could make it difficult to rescue. BIGGEST LOSER: Health insurer Humana fell 8 percent, the biggest drop in the Standard & Poor's 500 index, after reporting lower profits as the company paid more in claims. APRIL RESULTS: The S&P 500 index slipped 0.8 percent in April, its first month in the red since...

A look at economic developments and activity in major stock markets around the world Monday: ___ MADRID _ Spain confirmed it was officially back in recession as the country's economy shrank 0.3 percent in the first quarter compared to the previous three months. ___ FRANKFURT, Germany _ Europe got more downbeat economic news as inflation remained higher than expected and European Central Bank data showed only anemic growth in credit to businesses _ despite its massive infusion of cheap money...

Key barometers in the Treasury market late Monday, compared with late Friday. Price changes in the 10-year note and 30-year bond are per $100 invested: Today Previous session 10-year note +19 cents +6 cents 30-year bond +15 cents +3 cents --- --- --- 1-month bill 0.07 0.08 3-month bill 0.09 0.09 6-month bill 0.15 0.14 2-year note ...

News that Spain's economy entered another recession renewed worries about the fragility of Europe's finances Monday and nudged stocks lower. The market ended its first losing month this year. The Spanish government said that the country's economy shrank in the first three months of the year, the second straight quarter of contraction. In the U.S., a drop in an index of Midwestern manufacturing and a slowdown in consumer spending last month added to worries that the economy is losing steam. The...

Figures on government spending and debt (last six digits are eliminated). The government's fiscal year runs Oct. 1 through Sept. 30. Total public debt subject to limit April 27 15,580,428 Statutory debt limit 16,394,000 Total public debt outstanding April 27 15,623,697 Operating balance April 27 103,134 Interest fiscal year 2012 through March 121,712 Interest same period 2011 ...

Key currency exchange rates Monday, compared with late Friday in New York: Dollar vs: Exchange Rate Pvs Day Yen 79.81 80.39 Euro $1.3243 $1.3259 Pound $1.6232 $1.6269 Swiss franc 0.9073 0.9062 Canadian dollar 0.9873 0.9809 Mexican peso 13.0352 12.9669 Metal Price (troy oz.) Pvs Day NY Merc Gold $1663.40 $1664.00 NY HSBC Bank US $1665.00 $1664.00 NY...

Oil prices dropped slightly on concerns of growing economic troubles in Europe. Here's how energy contracts traded Monday: On the New York Mercantile Exchange: Benchmark crude lost 6 cents to end at $104.87 per barrel; Gasoline fell by 2.18 cents to end at $3.1844 per gallon; Heating oil ended virtually unchanged at $3.1834 per gallon; Natural gas rose 9.9 cents to end the day at $2.285 per 1,000 cubic feet. On the ICE Futures exchange in London: Brent crude lost 36 cents to end at $119.47...

Italian Premier Mario Monti pledged on Monday to make (EURO)4.2 billion ($5.5 billion) in cuts in state spending over the next six months in a bid to avoid raising sales taxes and tapped a leading private-sector turnaround expert for the job of determining just what gets slashed. Monti told journalists after a five-hour-long Cabinet meeting on the nation's financial crisis that he hopes to avoid hiking the national sales tax from 21 to 23 percent in October by eliminating wasteful spending, implementing...

SPEED BUMP: Cotton prices fell 2 percent after India lifted an export ban on the fiber. The price is less than half what it was a year, ago when shrinking inventories and stronger demand sent prices over $2 per pound. INDIA'S COTTON: India, the world's second-largest exporter of cotton, reversed a ban imposed in early March. It plans to review the decision a couple of weeks. SLOWER GROWTH: U.S. consumer spending slowed in March and Spain fell back into recession. The news sent prices for gold,...

Energy Transfer Partners is buying Sunoco in a $5.3 billion deal that creates one of the more diverse pipeline companies in the country. The acquisition includes nearly 8,000 miles of pipeline, as well as 4,900 gas stations in 24 Eastern states. Those stations will keep the iconic Sunoco brand name and its diamond-and-arrow logo. The deal also brings a refinery business that Sunoco is trying to get out of. Energy Transfer is primarily a natural gas pipeline company. Sunoco's pipeline network...

The Irish government launched its campaign Monday to secure public support for the European Union's fiscal treaty, and warned that rejection could ravage Ireland's financial future and destabilize the euro currency. Pro-treaty campaigners began erecting posters in central Dublin as the government legally confirmed May 31 as the date for its referendum on the fiscal treaty. The agreement among 25 of the EU's 27 nations is designed to rein in deficits across the continent and underpin confidence...

BACK IN RECESSION: Spain said it was back in recession, as the country's economy shrank 0.3 percent in the first quarter compared with the previous three months. The contraction follows a similar decline in the last three months of 2011. NOT ALONE: This is Spain's second recession in three years. AUSTERIY UNWELCOME: Spain now has 24.4 percent unemployment and a deficit of 8.5 percent as of the end of 2011, which it must reduce to 3 percent in 2013. On Sunday, tens of thousands people protested...

REACTION: Reeling from a vicious financial crisis that has cost them pensions and jobs, Greeks have been turning away from the mainstream politicians they feel have let them down. NEW FORCE: Another political force is trying to tap the void, with blunt promises to "clean up" the country, ahead of the May 6 elections. WHO THEY ARE: Golden Dawn members have been promising security in crime-ridden neighborhoods and vowing to kick out immigrants. Firmly on the fringe since it first appeared 20 years...

The exchange operator NYSE Euronext said Monday that its first-quarter earnings tumbled 44 percent on weaker trading and its failed combination with Deutsche Boerse AG. Its shares fell nearly 6 percent in afternoon trading. CEO Duncan L. Niederauer said on a conference call that there has been "modest improvement in economic indicators around the world, which would generally bode well for our business." "But unfortunately, we are still waiting for signs that trading volumes will return to the...

SPENDING GROWTH SLOWS: Americans increased their spending more slowly in March. U.S. consumer spending rose 0.3 percent, one-third of the 0.9 percent February gain. INCOME RISES: Income grew 0.4 percent in March. But after-tax income when adjusted for inflation increased just 0.2 percent following two months of declines. OUTLOOK: Economists are worried that consumer spending, which accounts for 70 percent of economic activity, could slow in coming months unless income gains accelerate.

London's mayor warned Monday that long delays for passengers arriving at the city's largest airport risk damaging Britain's reputation in the run-up to this summer's Olympic Games. Boris Johnson wrote to Home Secretary Theresa May amid increasing concerns over lengthy lines at border control desks for those arriving at Heathrow Airport. Passengers have complained of frustrating delays, sometimes more than an hour, because of lengthy passport and visa checks and an apparent lack of border staff....

TITANIC UNDERTAKING: Just weeks after the 100th anniversary of the sinking of the Titanic, Australian billionaire Clive Palmer has signed an agreement with a Chinese shipyard to build Titanic II, a high-tech replica of the original. He did not provide a cost estimate. MISSED THE BOAT: Palmer said previous attempts to build a Titanic replica failed for lack of money. Titanic II is the first of four luxury cruise ships he commissioned. SMOOTHER SAILING: Titanic II's maiden voyage is set for 2016....

Reeling from a vicious financial crisis that has cost them pensions and jobs, Greeks have been turning away in droves from the mainstream politicians they feel have let them down. Another political force is trying to tap the void, with blunt promises to "clean up" the country. It's one that could see Europe's most extreme far right deputies take up seats in Greece's Parliament in crucial May 6 elections. Black-clad Golden Dawn members have been storming across the campaign trail across Greece,...

Prime Minister David Cameron insisted Monday there was no evidence that a Cabinet minister broke the rules in his dealings with Rupert Murdoch's News Corp., rejecting demands by the opposition to call in Britain's standards watchdog. Amid concern about the extent of contacts between Culture Secretary Jeremy Hunt's office and Murdoch's staff, Cameron said his minister had "acted fairly and impartially and in line with the advice" from civil servants. "I have seen no evidence to suggest that, in...

Europe got more downbeat economic news Monday as inflation remained higher than expected and European Central Bank data showed only anemic growth in credit to businesses _ despite its massive infusion of cheap money into the financial system. Inflation in the 17 countries that use the euro fell to an annual 2.6 percent in April, down from 2.7 percent in March but higher than the 2.5 percent expected by market analysts. Rising prices have been a consistent headache for the ECB _ the chief monetary...

An Australian billionaire said Monday he'll build a high-tech replica of the Titanic at a Chinese shipyard and its maiden voyage in late 2016 will be from England to New York, just like its namesake planned. Weeks after the 100th anniversary of the sinking of the original Titanic, Clive Palmer announced Monday he has signed a memorandum of understanding with state-owned Chinese company CSC Jinling Shipyard to build the Titanic II. "It will be every bit as luxurious as the original Titanic, but...

The world's biggest brewer Anheuser-Busch InBev NV said Monday its first-quarter net profit jumped 75 percent thanks to lower financing costs and taxes as well as bigger beer sales. Net profit rose to $1.69 billion between January and March from $964 million a year earlier, after a sharp drop in financing costs as well as declining taxes. AB InBev's chief financial officer, Filipe Dutra, said the company was benefiting from growing profits in countries like Brazil, where the tax rate is lower...

Egypt's visitor numbers should bounce back to pre-uprising levels this year after a drop caused by Arab Spring unrest, the country's tourism minister said Monday. The country is eager to entice overseas visitors back following the 2011 ouster of longtime authoritarian leader Hosni Mubarak because the tourism industry is a major source of jobs and foreign currency. Speaking at a hotel industry conference in Dubai, Egyptian Tourism Minister Mounir Abdel-Nour said the sunny North African destination...

Hong Kong's stock market operator said Monday it's studying a bid for London's metal trading market, a move that comes after the exchange earlier this year announced plans to expand into commodities to capitalize on Chinese demand. Hong Kong Exchanges and Clearing Ltd. said in a statement that it's one of a number of parties examining a possible acquisition of the 135-year-old London Metal Exchange. The statement noted the LME said in December that one option for its future is becoming part of...

Seaport operator DP World says strong business in Asia boosted cargo volumes at its ports nearly 10 percent in the first quarter of the year. The world's third-largest port operator said Monday it handled the equivalent of 13.8 million standard 20-foot shipping containers between January and March. That is up 9.5 percent from 12.6 million containers during the same period a year earlier. Dubai-based DP World says the bulk of the gains came from its businesses in the Far East and the Indian subcontinent,...

Asian stock markets rose Monday in holiday-thinned trade as sluggish U.S. growth figures boosted hopes for more measures from the Federal Reserve to help the world's No. 1 economy. South Korea's Kospi added 0.2 percent to 1,980.27 amid improving business sentiment among manufacturers. Australia's S&P/ASX 200 gained 0.7 percent to 4,393.30 as rising commodities prices helped push up its mining sector. Hong Kong's Hang Seng rose 1.1 percent to 20,962.34. Benchmarks in New Zealand, and the Philippines...

When deadly twisters chewed through the South and Midwest in 2011, thousands of people in the killers' paths had nowhere to hide. Now many of those families are taking an unusual extra step to be ready next time: adding tornado shelters to their homes. A year after the storms, sales of small residential shelters known as safe rooms are surging across much of the nation, especially in hard-hit communities such as Montgomery and Tuscaloosa in Alabama and in Joplin, Mo., where twisters laid waste...

Glimmers of hope are coming to this devastated capital and its surrounding cities, as the concrete Royal Oasis hotel rises over a metropolitan area still filled with displaced-persons camps housing hundreds of thousands. Signs of Haiti's comeback can also be seen in the 105-room Best Western hotel being built within blocks of shanty-covered hillsides. At least seven hotels are under construction or are in the planning stage in Port-au-Prince and its surrounding areas, raising hopes that thousands...

A top White House aide on Sunday said President Barack Obama wants to strike an "appropriate balance" between advancing human rights and maintaining U.S. relations with China, the first public comments by the administration on its potential involvement in harboring a Chinese activist on the eve of diplomatic talks between the two world powers. John Brennan, Obama's counterterrorism adviser, declined to provide details on the incident or say whether the activist, Chen Guangcheng, might be hiding...

It's simple to understand, and has a nice ring to it. It's made some investors look like geniuses recently. Say it enough and you might even believe it. Too bad "Sell in May and go away" doesn't work. The idea behind the popular investing strategy is that you can make more money in stocks by avoiding the summer and early fall when prices tend to languish. Better to sell your holdings April 30 before they flatline, then buy them back November 1 before they rise. The "Sell in May" folks are up...

Prime Minister David Cameron acknowledged Sunday that he wooed Rupert Murdoch as he attempted to win power in Britain, but insisted he never struck a tit-for-tat deal to support the media mogul's business dealings in return for favorable coverage. Ties between Cameron's government and Murdoch's News Corp. are under scrutiny after Britain's judge-led inquiry into media ethics raised questions about a minister's handling of a decision on whether the company should be authorized to take full control...

Tens of thousands of people across Spain protested Sunday against education and health care spending cuts as the country slid into its second recession in three years. Unemployment is at a eurozone high of 24.4 percent, more than half of Spaniards under 25 years old are jobless, and Prime Minister Mariano Rajoy's conservative government has introduced stinging austerity measures in its first five months in office. Speaking at a party rally, Rajoy, who on Friday announced a new set of tax hikes...

Spain temporarily restored border checks in its northeast and at two major airports early Saturday in a bid to discourage protesters entering the country ahead of a European Central Bank meeting in Barcelona. The Catalan regional capital is to host an ECB governing council assembly on May 3 as the financial crisis in Spain deepens, with 24.4 percent of the work force unemployed and the economy lurching into its second recession in three years. Spanish authorities suspended the Schengen Treaty,...

Rick Allen moved to upstate New York to escape the rat race and tension of Washington, D.C., but when he arrived in his hometown, the 49-year-old electronics technician couldn't find a job. "I happened to walk into the workforce center and saw a sign on the wall for natural gas training," Allen said. "I never knew anything about natural gas." With encouragement from his daughter and a job counselor, he signed up for the 72-hour course at Corning Community College to augment his computer repair...

German Chancellor Angela Merkel's refusal to amend a European treaty on fiscal discipline with measures to promote growth in struggling EU countries might delay the deal's ratification in Germany, an opposition leader said. The Social Democrats' caucus leader Frank-Walter Steinmeier told the Sueddeutsche Zeitung daily on Saturday that his party also wants a financial transaction tax in return for the treaty's ratification. Merkel needs the opposition's support to garner a two-thirds majority....

Chinese Vice Premier Li Keqiang has announced the signing of contracts between China and Russia worth a total of $15 billion. Speaking at a trade and investment forum in Moscow attended by hundreds of Chinese businessmen, Li said he and one of Prime Minister Vladimir Putin's top deputies had witnessed the signing of contracts for "transport, energy, communications, high technology and investment projects." Li estimated the total value of the contracts signed on Saturday at more than $15 billion....

Dubai says it now has full control of the Atlantis resort hotel perched atop its palm-shaped island. State-run investment firm Istithmar World said late Friday it paid $250 million to buy out financially troubled business partner Kerzner International Holdings Ltd., which had held a 50 percent stake in the coral-colored hotel. Istithmar already owned half of the property. Kerzner will continue to operate the resort, which includes a waterpark and 18 restaurants, Istithmar said. It agreed to...

Federal regulators have closed two banks in Maryland and one each in Minnesota, South Carolina and California, bringing to 22 the number of U.S. banks that have failed so far this year. The Federal Deposit Insurance Corp. said Friday that it shuttered Bank of Eastern Shore, in Cambridge, Md., as well as HarVest Bank of Maryland, in Gaithersburg. Regulators also closed Inter Savings Bank in Maple Grove, Minn., Plantation Federal Bank in Pawleys Island, S.C., and Palm Desert National Bank in Palm...

Delta Air Lines Inc.'s chief executive, Richard Anderson, received a 10 percent raise in his pay package in 2011, a year when the company's stock price fell by more than a third. Anderson's pay package was valued at $8.9 million, up from $8 million in 2010, according to an Associated Press review of a securities filing made Friday. His salary was unchanged at $600,000 but he received stock awards valued at $7 million, up from $6 million a year earlier. Other items in his pay package _ including...