AP Business News

Trade deficit jumps sharply in December
WASHINGTON (AP) -- The government says the trade deficit surged to a larger-than-expected $40.18 billion in December, the biggest imbalance in 12 months. The wider deficit reflected a rebounding economy that is pushing up demand for imports....

EU officials to talk over possible Greece rescue
BRUSSELS (AP) -- European Union governments are negotiating plans to rescue Greece if it nears a disastrous default on its debt, after investor worries over its shaky finances sent stock markets and the euro in a downward spiral....

More recalls likely amid caution after Toyota woes
TOKYO (AP) -- Honda's expansion of its global recall for faulty air bags suggests automakers are turning cautious amid consumer scrutiny of Toyota's safety lapses, a trend that could see more recalls in the coming months....

New York Times posts jump in 4Q profit
NEW YORK (AP) -- The New York Times Co. says its fourth-quarter earnings climbed more than threefold, helped by cost cutting, an improving ad market and a one-time gain from lower pension costs....

OPEC cautions about pace of US economic recovery
DUBAI, United Arab Emirates (AP) -- OPEC is raising questions about how fast the U.S. economy will be able to bounce back, but is sticking to its forecast for worldwide oil demand for now....

Greece leads markets higher amid EU rescue hopes
LONDON (AP) -- Greek shares led world markets higher Wednesday amid mounting hopes that German opposition to a European Union financial rescue package for the heavily indebted country is waning....

Oil near $74 as weak dollar offsets high supplies
Oil prices rose to near $74 a barrel Wednesday, boosted by a weaker dollar but held back by a report showing unexpected growth in U.S. crude inventories, casting more doubt on the recovery in the world's biggest economy....

AP sources: FAA eyes hefty fines for American
WASHINGTON (AP) -- The Federal Aviation Administration is close to wrapping up a two-year investigation of safety violations at American Airlines that could result in one of the largest fines in the agency's history, according to government and industry officials familiar with the investigation....

Stock futures in narrow range ahead of opening
NEW YORK (AP) -- Stock futures eased off their highs Wednesday, but were still slightly positive, as investors cautiously wait for details about a potential rescue package for Greece....

Sprint Nextel slows subscriber loss in 4th quarter
NEW YORK (AP) -- Sprint Nextel Corp.'s subscriber losses slowed in the fourth quarter, an encouraging sign for a wireless carrier that has lost millions of customers over the past few years....