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  • HP's big deal: Tech giant buys Aruba Networks for $2.7B

    SAN FRANCISCO (AP) — Hewlett-Packard is buying wireless networking company Aruba Networks for about $2.7 billion, in what amounts to HP's first major acquisition since its disastrous purchase of a British software company in 2011. Aruba, based in Sunnyvale, California, makes Wi-Fi networking systems for shopping malls, corporate campuses,...

  • Morgan Stanley expects lawsuit from NY Attorney General

    NEW YORK (AP) — Morgan Stanley, which agreed to a $2.6 billion settlement with the federal government last week, says it expects to be sued by New York Attorney General Eric Schneiderman over subprime mortgage bonds. The investment bank says it was told about the lawsuit in January and that it will involve about 30 subprime securities. Morgan...

  • US consumer spending, adjusted for inflation, rose in Jan.

    WASHINGTON (AP) — U.S. consumers spent less for a second consecutive month in January, but the weakness came from a big decline in gas prices. Excluding price changes, consumer spending was up in January and analysts expect strong income gains will fuel further solid increases in spending in the months ahead. Consumer spending declined 0.2...

  • Lumber Liquidators stands behind products as stock plunges

    TOANO, Va. (AP) — Lumber Liquidators is refuting a "60 Minutes" report that raised health concerns about some of its laminate flooring products and pushed its stock price to its lowest level in more than two years. In a printed statement on Monday, Lumber Liquidators said all of its laminate flooring meets the safety standards set by...

  • Forbes List: 10 richest people in the world

    NEW YORK (AP) — Bill Gates, the founder of technology company Microsoft Corp., topped Forbes' 2015 list of the world's top billionaires for the second straight year. In 2013, Mexican billionaire Carlos Slim Helu was on top. He ranked second this time. Forbes said it calculated each person's net worth based on stock prices and exchange rates on...

  • Nurse who survived Ebola sues Dallas hospital system

    DALLAS (AP) — A 26-year-old nurse who contracted Ebola while caring for the first person in the U.S. diagnosed with the deadly disease has filed a lawsuit against the parent company of the Dallas hospital where she worked. Nina Pham filed the lawsuit Monday in Dallas County against Texas Health Resources. She contracted Ebola last fall while...

  • New FDA official inherits raft of projects, challenges

    WASHINGTON (AP) — One of the nation's leading medical researchers joined the Food and Drug Administration on Monday, taking on the agency's No. 2 leadership job at a critical juncture for prescription drugs, medical devices and tobacco products. Dr. Robert Califf comes to the job of FDA deputy commissioner after more than 30 years as a...

  • PayPal to acquire mobile wallet provider Paydient

    NEW YORK (AP) — EBay's PayPal payment unit is acquiring mobile wallet operator Paydient ahead of PayPal's spinoff as the mobile payment sector heats up. Paydient provides a mobile wallet platform for retailers and companies including Subway, Harris Teeter, Capital One and others. They also provide the mobile wallet platform for MCX, a mobile...

  • Norfolk Southern names James Squires as CEO

    NEW YORK (AP) — Norfolk Southern named company President James Squires as its next CEO, the railroad company said Monday. Squires will replace 63-year-old Charles "Wick" Moorman on June 1. Moorman, who has been CEO for about nine years, will stay on as executive chairman of the company's board. Squires, 53, joined Norfolk Southern in 1992. He...

  • US stocks head higher; Nasdaq touches 5,000 points

    NEW YORK (AP) — The U.S. stock indexes headed higher as deals and economic news gave the market a lift. The Nasdaq briefly touched 5,000, the first time the tech-heavy index has hit that mark in nearly 15 years. The Dow Jones industrial average rose 124 points, or 0.7 percent, to 18,256 as of 11:45 a.m. Eastern time Monday. The Standard &...

  • Judge puts AG's attempt to investigate Google on hold

    JACKSON, Miss. (AP) — The Mississippi attorney general's attempt to investigate Google is on hold for at least four more months. U.S. District Judge Henry T. Wingate on Monday granted Google's request for a preliminary injunction, preventing Attorney General Jim Hood from going through with a subpoena meant to examine whether Google is...

  • University president tapped to head Philadelphia Fed

    WASHINGTON (AP) — The head of the University of Delaware has been selected to be the new president of the Federal Reserve Bank of Philadelphia. The bank's board of directors announced Monday that Patrick T. Harker, 56, will succeed Charles Plosser, who retired effective March 1. Harker will take over on July 1. In addition to serving as...

  • Dot-com deja vu: Nasdaq touches 5,000, nears its record high

    NEW YORK (AP) — The last time the Nasdaq was this high, Bill Clinton was president, your Internet was probably still dial-up, Microsoft dominated the tech world and the iPod, iPhone and iPad didn't exist. Fifteen years later the Nasdaq has again touched 5,000 and is close to topping its record from the dot-com boom. The index has clawed back,...

  • Bill Gates repeats at top of Forbes' list of billionaires

    NEW YORK (AP) — The world's richest person got even richer this year. And a basketball superstar-turned-owner made the list for the first time. Forbes said Monday that Bill Gates's net worth rose to $79.2 billion in 2015 from $76 billion last year. That put him at the top of the magazine's list of the world's billionaires for the second...

  • The Nasdaq composite index, then and now

    It's taken 15 years for the Nasdaq composite index to approach the record high of 5,048 it reached back in March 2000, at the height of the tech-stock boom that would later collapse. On Monday the index briefly traded above 5,000 points for the first time since hitting its peak. Here are some things that have changed since then, in the index...

  • Milestones for the Nasdaq composite index

    Key milestones in the history of the Nasdaq composite index: — Feb. 8, 1971: Nasdaq index is created and set at 100 by the National Association of Securities Dealers, an industry self-regulatory group. — July 17, 1995: Closes above 1,000 for the first time. — Nov. 3, 1999: Closes above 3,000 for the first time. — March 9, 2000: Closes above...

  • Buffett declines to clarify plan to eventually replace him

    OMAHA, Neb. (AP) — Billionaire Warren Buffett didn't end the speculation about his eventual successor, but he reiterated Monday that Berkshire Hathaway's board has a plan in place. Buffett addressed a variety of topics on CNBC after releasing his annual letter to Berkshire shareholders over the weekend. Berkshire's Vice Chairman Charlie...

  • Sonic shares driven up after strong 2Q sales report

    NEW YORK (AP) — Shares of Sonic climbed Monday after the drive-in restaurant chain said a closely watched sales measurement rose by double digits in the second quarter. The Oklahoma City-based company said sales at restaurants open at least a year grew 11.5 percent in the fiscal quarter. Sales at stores open at least a year are considered an...

  • US construction spending down 1.1 percent in January

    WASHINGTON (AP) — U.S. construction spending fell in January, reflecting weakness in spending on office buildings and other nonresidential projects and in government activity. Construction spending fell 1.1 percent in January following a revised 0.8 percent increase in December, the Commerce Department reported Monday. Spending on home...

  • US manufacturing slows as output and hiring weaken

    WASHINGTON (AP) — U.S. factories expanded last month at their weakest pace in a year, with orders, hiring and production all growing more slowly. The Institute for Supply Management, a trade group of purchasing managers, said Monday that its manufacturing index slipped to 52.9 in February from 53.5 in January. It was the fourth straight drop...

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