Euro-area consumer prices increased more than economists estimated in December as higher prices for food and services offset slower growth in energy costs. The inflation rate remained at 2.2 percent, the European Union’s statistics office in Luxembourg said Friday. The median forecast of 34 economists in a Bloomberg News survey was for a decline to 2.1 percent. The European Central Bank last month lowered its 2013 inflation forecast to 1.6 percent from 1.9 percent and projected prices will incr

Jan. 6, 2013

NEW YORK (AP) ― The makers of Thomas’ English muffins and Tastykake snacks are emerging as the two of the bidders for Wonder Bread and other Hostess bread brands as the company tries to sell off its assets under bankruptcy-court oversight, a newspaper reported Saturday.The Wall Street Journal said Hostess Brands Inc. could reveal as early as next week that Flowers Foods Inc. and Grupo Bimbo SAB are in discussions to acquire the bread brands, which also include Nature’s Pride. The report said the

Jan. 6, 2013

WASHINGTON (AFP) ― President Barack Obama warned Congressional Republicans on Saturday against playing a “dangerous game” with the economy as lawmakers prepared for a new battle over the national debt ceiling.But the Democratic president also congratulated lawmakers for passing an 11th-hour deal that avoided the so-called fiscal cliff.Signed into law Thursday, the compromise raised taxes on the wealthiest Americans while avoiding a tax hike on the middle class that “could have thrown our economy

Jan. 6, 2013

OAKLAND (AFP) ― A federal judge on Wednesday rejected Apple’s claim of false advertising for Amazon.com to refer to its online shop for mobile gadget applications as an “app store.”“Apple has failed to establish that Amazon made any false statement of fact that actually deceived or had the tendency to deceive a substantial segment of its audience,” U.S. District Judge Phyllis Hamilton said in her ruling.“The mere use of ‘Appstore’ by Amazon to designate a site for viewing and downloading/purchas

Jan. 3, 2013

DETROIT (AP) ― A healthier economy and more model introductions should push U.S. auto sales above the 15 million mark this year, predicts an auto industry research firm. The Polk research firm says auto sales should continue to lead the country’s economic recovery, rising nearly 7 percent over 2012 to 15.3 million new vehicle registrations. Automakers release December and full-year sales for 2012 on Thursday. Analysts think sales reached 14.5 million last year, the strongest performance since 20

Jan. 3, 2013

Goldman Sachs Group Inc. accelerated delivery of $65 million in stock awards to 10 executives, including Chief Executive Officer Lloyd C. Blankfein, helping them avoid higher tax rates that take effect this year. The awards are restricted stock granted for years prior to 2012, according to 10 separate filings made public at about 8 p.m. New York time on Monday. Each executive surrendered 45 percent to 50 percent of their awards in order to pay taxes, according to the filings. The firm’s stock cl

Jan. 3, 2013

WASHINGTON (AP) ― Under intense pressure from angry Republicans, House Speaker John Boehner agreed Wednesday to a vote this week on aid for Superstorm Sandy recovery. The speaker will schedule a vote Friday for $9 billion for the national flood insurance program and another on Jan. 15 for a remaining $51 billion in the package, Republican Rep. Peter King of New York said after emerging from a meeting with Boehner and GOP lawmakers from New York and New Jersey. The votes will be taken by the new

Jan. 3, 2013

WASHINGTON (AP) ― While the tax package that Congress passed New Year’s Day will protect 99 percent of Americans from an income tax increase, most of them will still end up paying more federal taxes in 2013.That’s because the legislation did nothing to prevent a temporary reduction in the Social Security payroll tax from expiring. In 2012, that 2-percentage-point cut in the payroll tax was worth about $1,000 to a worker making $50,000 a year.The Tax Policy Center, a nonpartisan Washington resear

Jan. 3, 2013

Maersk Line, the world’s biggest container shipping company, said demand for trade on the Asia-Europe route is expected to grow until Lunar New Year in February as Chinese manufacturers produce and export more. Imports into China have also helped increase demand as raw materials are shipped to Asia’s largest economy for final assembly while local consumers increase spending, Tim Smith, head of north Asia operations for Maersk Line, said in a Bloomberg Television interview in Hong Kong Wednesday.

Jan. 2, 2013

MOSCOW (AP) ― A big question in Russia in 2013 may be “How do I get a beer around here?” Under a law that took effect on New Year’s Day, selling beer at the ubiquitous kiosks that mushroomed along Russian sidewalks and roadsides after the collapse of the Soviet Union has been banned. Though the tiny makeshift shops lost their importance as conventional stores got more of a foothold, new laws could deal a finishing blow to a symbol of the country’s lively and disorderly post-communist free market

Jan. 2, 2013

 Singapore’s economy expanded more than economists estimated last quarter, averting a recession even after the central bank refrained from monetary stimulus as it sought to contain elevated inflation. Gross domestic product rose an annualized 1.8 percent in the three months to Dec. 31 from the previous period, when it contracted a revised 6.3 percent, the Trade Ministry said in a statement Wednesday. The median of 11 estimates in a Bloomberg News survey was for a 1.6 percent expansion. The econo

Jan. 2, 2013

LONDON (AFP) ― British Prime Minister David Cameron called on his fellow G8 leaders on Wednesday to start work now on agreeing “bold steps” to help boost global economic growth, ahead of a summit he will host in June.In a letter marking the start of Britain’s presidency of the Group of Eight richest nations, Cameron laid out his three priorities for the year: to extend free trade, tackle tax evasion and combat corruption.Writing to the leaders of Canada, France, Germany, Italy, Japan, Russia and

Jan. 2, 2013

CHICAGO (AFP) ― U.S. media conglomerate Tribune Co. exited bankruptcy Monday after four years of court supervision, with the future of assets such as The Chicago Tribune and Los Angeles Times uncertain.The Chicago-based company said it had emerged from bankruptcy protection “with a portfolio of profitable assets, strong liquidity, and a new board of directors.”The reorganization allowed a group of hedge funds and banks based in Los Angeles and New York to take over the media company, which filed

Jan. 1, 2013

Don’t count Nissan Motor Co. President Carlos Ghosn among those impressed with new Japanese Prime Minister Shinzo Abe’s ability to weaken the yen against all major global currencies. “We are way long from what I consider a neutral territory” of about 100 yen to the dollar, the Brazilian-born president of Japan’s second-largest automaker told reporters during a year-end briefing at Nissan’s headquarters in Yokohama, Japan. “Please bring it back to the neutral territory so that we can do our job w

Jan. 1, 2013