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AP Business NewsBrief at 1:35 p.m. EDT(Associated Press Via Acquire Media NewsEdge) Survey: Employers consider ending health coverageINDIANAPOLIS (AP) _ Nearly one of every 10 midsized or big employers expects to stop offering health coverage to workers once federal insurance exchanges start in 2014, according to a new survey from a large benefits consultant. Towers Watson also found in a survey completed last month that an additional 20 percent of the companies are unsure about what they will do. Google settles pharmacy ad probe for $500 millionPROVIDENCE, R.I. (AP) _ Google Inc. has agreed to pay $500 million to settle a U.S. government investigation into the Internet search leader's distribution of online ads from Canadian pharmacies illegally selling prescription and non-prescription drugs to American consumers, a U.S. attorney in Rhode Island said Wednesday. The settlement means the Internet search leader will not face criminal prosecution for accusations that it improperly profited from ads promoting Canadian pharmacies that illegally imported drugs into the United States, U.S. Attorney Peter F. Neronha said. An early stock rally fades; indexes edge lowerNEW YORK (AP) _ An early stock market rally faded Wednesday, leaving indexes with small losses in early afternoon trading. The price of gold slumped 4 percent as investors became less fearful. A sharp increase in orders for long-lasting goods in July eased fears that the U.S. was headed for another recession. Companies placed more orders for aircraft, automobiles and other durable goods in July. Orders rose 4 percent, the biggest increase since March. Oil climbs on stronger manufacturing activityNEW YORK (AP) _ Oil rose Wednesday following news of stronger U.S. manufacturing activity. Benchmark West Texas crude on Wednesday rose 75 cents to $86.19 per barrel in New York, while Brent crude was up $1.34 at $110.65 per barrel in London. Higher durable-goods orders ease economic worriesWASHINGTON (AP) _ A surge in demand for autos and aircraft drove orders for long-lasting manufactured goods higher in July, easing fears that the economy might be on the verge of another recession. The rebound in the auto industry helped offset a decline in orders for most other factory goods. CBO: Budget deficit to hit $1.28T, down slightlyWASHINGTON (AP) _ The federal budget deficit will hit $1.28 trillion this year, down slightly from the previous two years, with even bigger savings to come over the next decade, according to congressional projections released Wednesday. The nonpartisan Congressional Budget Office says budget deficits will be reduced by a total of $3.3 trillion over the next decade, largely because of the deficit reduction package passed by Congress earlier this month. Burger King introduces oatmeal to breakfast menuPORTLAND, Ore. (AP) _ Burger King is adding oatmeal to its breakfast menu as the struggling fast-food chain tries to reinvent itself. The world's second-largest burger chain says the move balances out its menu to offer customers a healthier breakfast option. But it is also an attempt by the company to catch-up with competitors and expand its appeal beyond its traditional burger-and-fries base to boost its sagging sales. Nokia launches 3 mass-market smartphonesHELSINKI (AP) _ Nokia on Wednesday unveiled three mass-market smartphones, as the troubled handset maker struggles against top-end competitors and cheaper producers in a market it once ruled as the innovative technology bellwether. The new models, based on the Symbian platform, include what the Finland-based company calls the world's smallest touch-screen smartphone and one with an exceptionally bright display. 9/11 families headed to meeting with Eric HolderNEW YORK (AP) _ Relatives of 9/11 victims were headed to Washington on Wednesday to meet with Attorney General Eric Holder about allegations surrounding Britain's phone hacking scandal. According to a London tabloid's story based on unnamed sources, a former New York police officer who became a private investigator said he rejected requests by journalists from Rupert Murdoch's News of the World to retrieve private phone records of Sept. 11 victims. The U.S.-based parent company for Murdoch's News Corp. has called the report "anonymous speculation" with "no substantiation." Toll Brothers' 3Q net income rises, revenue dropsHORSHAM, Pa. (AP) _ Toll Brothers Inc. said Wednesday that its fiscal third-quarter net income rose 54 percent, partly helped by a higher tax benefit. But the nation's biggest luxury homebuilder narrowed its full-year home delivery outlook, as market conditions remain unstable. Toll Brothers earned $42.1 million, or 25 cents a share, for the three months ended July 31. That compares with net income of $27.3 million, or 16 cents a share, in the prior-year period. (c) 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. |