Business News Headlines

GM's profit falls on recall costs, victims' compensation fund

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DETROIT - General Motors Co reported a lower second-quarter profit on Thursday due to numerous recalls and the expected cost of at least $400 million for its victims' compensation fund for those killed or injured by a defective ignition switch linked to at least 13 deaths.

7:33am EDT

Ford profit beats expectations, sets record for North America

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DEARBORN Mich. - Ford Motor Co's operating earnings for the second quarter beat Wall Street expectations as better-than-expected profit in North America and Europe countered weaker results in Asia Pacific and South America.

7:43am EDT

In China, Apple's focus pays off while Samsung feels squeeze

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BEIJING - The mobile industry has long held that Samsung's broad range of mobile devices makes it nimble in changing markets, while Apple loses out by rigidly sticking to its high-end gadgets.

China, Tech, iPad, Media 7:55am EDT

Earnings, overseas data lift stock futures

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NEW YORK - U.S. stock index futures rose on Thursday, following a record close on the S&P 500 index, lifted by strong data overseas and better than forecast results from Facebook.

8:12am EDT

3M profit rises 6 percent, sales up across businesses

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- 3M Co posted a 6 percent rise in quarterly profit on Thursday, helped by broad sales growth across the U.S. manufacturer's range of businesses.

8:07am EDT

China probes food businesses; Hong Kong bans imports in meat safety scare

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SHANGHAI - China's food regulator has visited close to 600 restaurants, businesses and food distributors as it investigates a fast-spreading food safety scare that has dragged in a number of global brands and hit food outlets as far away as Japan.

6:42am EDT

American Airlines declares first dividend since 1980 as profit rises

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- American Airlines Group Inc said on Thursday it will pay its first dividend since 1980 and buy back stock as it reported higher second-quarter earnings.

8:01am EDT

Caterpillar posts higher second-quarter profit; sales fall

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- Caterpillar Inc on Thursday reported higher-than-expected second-quarter earnings but sales fell despite a rebound in the building sector.

8:14am EDT

Global economy starts second half on solid footing: PMIs

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- China's factory activity expanded at its fastest in 18 months in July as new orders surged while the euro zone's private sector also perked up, suggesting the global economy started the second half of 2014 on a solid footing.

6:36am EDT

France defends billion-euro guarantee demand in UBS probe

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PARIS - A 1.1 billion euro ($1.48 billion) guarantee payment demanded by French judges of Swiss bank UBS reflects the size of the fine it could pay if found guilty of helping wealthy French customers avoid tax, the French prosecutor's office said on Thursday.

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Key retirements mean a changing of the guard next year in U.S. Congress

Regardless what voters decide in the November elections, there will be a major changing of the guard next year in the U.S. Congress as result of a number of key retirements.