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American Airlines Thursday reported a profit in its first full quarter since acquiring US Airways, benefitting from lower fuel costs and a gain from the sale of some airport slots. American, the biggest US airline by revenue, said first-quarter net income was $480 million, compared with a loss of $297 million from the combined year-ago results of American and US Airways. American and US Airways closed their merger in December 2013. The airline also notched $137 million in special credits due mainly to the sale of airport slots at Reagan National Airport in Washington that was mandated by antitrust regulators for approval of the US Airways deal.
Munich (Germany) (AFP) - Formula One supremo Bernie Ecclestone went on trial in Germany on Thursday, denying charges of bribery that threaten to land the British billionaire in jail. Ecclestone, 83, is accused of paying a German banker tens of millions of dollars to ensure his continued grip on the motor sports empire he built up virtually single-handedly over four decades. The mop-topped, diminutive F1 magnate entered the packed Munich courtroom in his trademark black suit and white shirt, saying only: "I'm confident, the sun is shining." He also declared that Ecclestone does not intend to speak for now in the trial that is set to run until September.
LONDON (AP) — Kate's dilemma: What to pack for a two-week trip, when your itinerary includes everything from state receptions and church services to toddler playdates and cricket games?
The number of Americans filing new claims for unemployment benefits increased more than expected last week, but the rise probably does not suggest a shift in labor market conditions as the underlying trend continued to point to strength. Initial claims for state unemployment benefits rose 24,000 to a seasonally adjusted 329,000 for the week ended April 19, the Labor Department said on Thursday.
WASHINGTON (AP) — The number of people seeking U.S. unemployment benefits surged 24,000 to a seasonally adjusted 329,000 last week, though the gain likely reflected temporary layoffs in the week before Easter.
WASHINGTON (AP) — Orders to U.S. factories for long-lasting manufactured goods posted a solid gain for the second straight month in March. A key category that signals business investment plans increased at the fastest pace in four months.
Orders for long-lasting U.S. manufactured goods rose more than expected in March and a measure of business capital spending plans surged, bolstering views of an acceleration in growth in the second quarter. The Commerce Department said on Thursday durable goods orders increased 2.6 percent as demand rose across all categories. Durable goods range from toasters to aircraft and are meant to last three years.
DALLAS (AP) — Southwest Airlines says it made a record $152 million in the first quarter, more than doubling the $59 million profit it had during the same time last year.
NEW YORK (AP) — Verizon's $130 billion deal to take over of all of Verizon Wireless is helping lift its profit.
Caterpillar's first-quarter earnings climbed 5 percent, and the construction equipment maker raised its 2014 forecast. But the company also said Thursday that a mining equipment sales slump is still hurting results.
ST. PAUL, Minn. (AP) — 3M's first-quarter net income rose 7 percent, led by sales growth in its health care business.
CHICAGO (AP) — Roger Ebert's final blog posting last April ended with his hopeful sign-off: "I'll see you at the movies." The award-winning film critic died two days later.
RICHMOND, Va. (AP) — Altria Group Inc.'s first-quarter profit dropped 15 percent as the Marlboro maker sold fewer cigarettes and its year-ago results benefited lower expenses from a longstanding legal settlement.
United Airlines is the one U.S. carrier that can't seem to get its act together.
DALLAS (AP) — First-quarter revenue at UPS slumped 12 percent as winter storms increased costs for the shipping giant and cut into its revenue.
By Aleksandar Vasovic and Gleb Garanich SLAVIANSK, Ukraine (Reuters) - Ukrainian forces said they had killed several pro-Russian militants in clashes as they closed in on the separatist-held city of Slaviansk on Thursday, seizing rebel checkpoints and setting up roadblocks as helicopters circled overhead. Reuters journalists saw a Ukrainian detachment with five armored personnel carriers take over a checkpoint on a road north of the city in late morning after it was abandoned by separatists who set tires alight to cover their retreat. Earlier, the Ukrainian Interior Ministry said its forces and troops from the Defence Ministry had killed "up to five terrorists" while destroying three militant checkpoints northeast of the center. A separatist spokeswoman in Slaviansk said early in the morning that two fighters had been killed in a clash in the same area, near a road leading to the town of Sviatogorsk.
SAN JOSE, Costa Rica (AP) — The Costa Rican government says it's still waiting for the Obama administration to explain why it launched the secret "Cuban Twitter" network from inside the Central American nation's borders despite warnings in 2009 that the plan could jeopardize the two countries' diplomatic relations.
MADRID (AP) — Spain's economy expanded by 0.4 percent in the first quarter, the Bank of Spain estimated Thursday, the fastest growth in six years and further evidence the recovery is gathering steam.
JINDO, South Korea (AP) — Angry relatives of some of the more than 130 people still missing from the sinking of the ferry Sewol surrounded the fisheries minister and the coast guard chief Thursday, preventing them from leaving the area where families have been waiting for word of their loved ones for more than a week.
TOKYO (AP) — As negotiators struggle, President Barack Obama is rejecting suggestions that an Asia-Pacific trade deal is in danger and says the U.S. and Japan must take bold steps to overcome differences that are threatening completion of the cornerstone of his strategic rebalance to the region.
General Motors Co on Thursday posted lower quarterly profit after a massive recall due to defective ignition switches linked to at least 13 deaths, but results still topped Wall Street expectations on strong pricing for its vehicles, especially in North America. Excluding a charge mostly for the devaluation of the Venezuelan currency, GM earned 29 cents a share, far better than the 4 cents analysts expected, according to a poll by Thomson Reuters I/B/E/S. Some GM ignition switches can make vehicle engines stall while operating, stop airbags from deploying, and power steering and power brakes from operating.
DETROIT (AP) — General Motors on Thursday reported its worst quarterly performance in more than four years as the costs of a series of recalls dragged down earnings.
SHENZHEN, China (AP) — One year after his stunning debut at the Masters, Chinese 15-year-old golfer Guan Tianlang is growing accustomed to being in the spotlight.(Reuters) - Medical device maker Zimmer Holdings Inc said it would buy orthopedic products company Biomet Inc in a deal valued at about $13.35 billion to broaden its portfolio of products that treat bone and joint-related disorders. Zimmer will pay $10.35 billion in cash and issue $3 billion in shares to Biomet shareholders. Biomet was taken private for $11.4 billion in 2007 by a private equity consortium including affiliates of Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts & Co and TPG. Biomet was advised by BofA Merrill Lynch, Goldman Sachs, Cleary Gottlieb Steen & Hamilton LLP and Weil, Gotshal & Manges LLP.
BEIRUT (AP) — Syrian government airstrikes targeted a vegetable market in a rebel-held town in the northern Aleppo province on Thursday, killing at least 18 people and wounding scores of others, opposition activists said.
NEW YORK (AP) — When the time comes for a young bird to leave the nest, he's often more than ready to go and doesn't care too much what Papa Bird thinks.
U.S. Deputy Secretary of State William Burns on Thursday promised Libya more U.S. help against extremist violence, saying the country could not achieve political or economic stability without tackling its security challenges. Libya's weak central government is struggling to assert its authority against militias and armed tribesmen who helped oust Muammar Gaddafi in a 2011 NATO-backed uprising. "Rising violent extremism is an enormous challenge first for Libya but also for Libya's international partners," Burns told a news conference after talks in the capital Tripoli.
WARRI, Nigeria (AP) — Shell Nigeria's Forcados oil export terminal remains closed seven weeks after it was shut down to repair a sabotaged undersea pipeline, a spokesman said Thursday, amid growing concerns about the industrial levels of oil theft in the world's 13th largest oil producer.SHENZHEN, China (AP) — Alvaro Quiros and Simon Dyson each shot a 5-under 67 to share the lead after the first round of the China Open on Thursday.The price of oil rebounded to near $102 a barrel Thursday on worries about tensions in Ukraine and continued concerns about crude exports from Libya and Nigeria.
TOKYO (AP) — The voice was slightly halting, childlike. "Welcome to Miraikan, Mr. President, it is a pleasure to meet you."
SACRAMENTO, Calif. (AP) — Nearly 40 years after a former Manson family member pointed a gun at President Gerald Ford, the audiotape from her pretrial psychiatric examination has been made public.
WARSAW, Ind. (AP) — Orthopedic device maker Zimmer is buying privately-held Biomet in a cash-and-stock deal valued at about $13.35 billion. Zimmer says the deal will expand its product offerings and services.
Tiraspol (Moldova) (AFP) - Anna says she is tired of living "in a country that does not exist for the rest of the world". Like many in Transdniestr, a pro-Russian breakaway region in Moldova, the 28-year-old PR consultant longs for international recognition to end two decades of uncertainty about the region's status. Now the crisis in neighbouring Ukraine has sparked fears that violence is returning to this divided corner of southeastern Europe. NATO and the pro-Western government in Moldova have both voiced concerns that this strip of land could be the next target in Moscow's sights after its annexation of Crimea last month.
By Matt Scuffham and Kylie MacLellan LONDON (Reuters) - Britain's Labour Party is considering moving a 1.2 million pound loan with the troubled Co-operative Bank to Unity Trust Bank, which is controlled by the country's trade unions, sources familiar with the matter said on Thursday. The sources said discussions were at an early stage and emphasised Labour would continue to bank with the Co-op, a major lender to Britain's main opposition party. "We constantly review our financial arrangements and any decisions taken, including any consolidation of loans, are done for commercial reasons," a Labour party spokesman told Reuters. The BBC reported earlier that Labour would look to move all its current account facilities to the Unity Trust Bank once the loan had been moved.
SLOVYANSK, Ukraine (AP) — Ukrainian government troops moved against pro-Russia forces in the east of the country on Thursday and killed at least two of them in clashes at checkpoints manned by the insurgents, the government and insurgents said. Russian President Vladimir Putin decried what he described as a "punitive operation."
Aetna's first-quarter net income soared 36 percent, fueled by gains from a multi-billion-dollar acquisition, and the health insurer hiked its 2014 earnings forecast above Wall Street expectations.
TOKYO (AP) — Talks between the United States and Japan on a Pacific Rim trade pact have halted for now without any resolution in sight, spoiling plans for a showcase deal during President Barack Obama's visit to Tokyo.
By Aleksandar Vasovic and Alexei Anishchuk SLAVIANSK, Ukraine/ST PETERSBURG, Russia (Reuters) - Ukrainian forces killed up to five pro-Moscow separatists in the east of the country, the Interior Ministry said on Thursday, as Russian President Vladimir Putin warned of "consequences" if Kiev used the army against its own people. Interior Ministry forces backed by the army removed three checkpoints manned by armed groups in the separatist-controlled town of Slaviansk, the ministry said in a statement. "During the armed clash up to five terrorists were eliminated," it said, adding that one person had been wounded on the side of government forces. However, the Kremlin, which has deployed tens of thousands of troops on Ukraine's border, maintains it has the right to protect Russian-speakers if they come under threat, a reason it gave for annexing the Crimean peninsula from Ukraine last month.
MIAMI (AP) — Marc Anthony's latest Spanish-language album "3.0" is a hit, and his single "Vivir mi vida" topped the charts for 18 weeks. But Anthony isn't satisfied. He wants to reconquer a broader market with a new project in English.
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