Archive for the ‘Business News’ Category

Thieves break into Paris’ flagship Apple store

PARIS (AP) — Masked and armed thieves used the New Year’s Eve fete to rob the flagship Apple store in Paris. The French press reported that up to (EURO)1 million ($1.3 million) in goods were stolen at the store selling products such as Apple’s iPhones and iPads behind the Paris Opera house, a figure police would not immediately confirm.



California newspaper defies trend to shrink costs

SANTA ANA, Calif. (AP) — A major Southern California newspaper is defying conventional wisdom by spending heavily to expand in print.



Political brinksmanship still threatens US economy

WASHINGTON (AP) — Even if U.S. lawmakers prevent the worst of the so-called fiscal cliff, the brinksmanship in Washington over taxes and spending is likely to continue damaging the fragile economy well into 2013. A months-long political standoff over fiscal policy has already taken its toll, adding uncertainty that has discouraged consumers from spending and businesses from hiring and investing.



Shell drill ship runs aground on island off Alaska

ANCHORAGE, Alaska (AP) — Royal Dutch Shell PLC’s foray into Arctic offshore drilling has suffered a serious setback after one of its two Alaska drilling rigs ran aground in shallow water off a small island. Officials at a unified command center run by the Coast Guard, Shell, state responders and others said the Kulluk grounded Monday night on rocks off the southeast side of Sitkalidak Island, an uninhabited island in the Gulf of Alaska. The Kulluk was being towed by a 360-foot anchor handler, the Aiviq, and a tugboat, the Alert.



Congress tightens belt, trims spy budget for 2013

WASHINGTON (AP) — Congress is drastically trimming the budget for spies and satellites for 2013, though not quite as deeply as the White House wanted. House lawmakers voted Monday on a Senate-passed bill to slightly boost the president’s $72 billion budget request for intelligence agencies including the CIA, adding extra cash for counterterrorism and counterintelligence. But that’s down from roughly $80 billion in 2012, which marked the peak of intelligence spending since the 9/11 attacks



Minimum wage gap grows wider between states

OLYMPIA, Wash. (AP) — With a bump in the minimum wage to $9.19 an hour on Tuesday, high school student Miranda Olson will edge closer to her goal of purchasing that black Volkswagen Beetle she’s been researching online. Olson is only able to pick up part-time hours, working after classes and on weekends