AP Business NewsBrief at 10:14 a.m. EST
(Associated Press Via Acquire Media NewsEdge) GOP budget takes aim again at Obamacare, MedicaidWASHINGTON (AP) _ House Republicans unveiled their latest budget outline on Tuesday, sticking to their plans to try to repeal so-called Obamacare, cut domestic programs ranging from Medicaid to college grants and require future Medicare patients to bear more of the program's cost. The point is to prove it's possible to balance the budget within 10 years by simply cutting spending and avoiding further tax hikes, even though the fiscal blueprint released Tuesday by Budget Committee Chairman Paul Ryan, R-Wis., will be dead on arrival with the White House and Democrats controlling the Senate.
White promises "unrelenting" enforcement at SECWASHINGTON (AP) _ Mary Jo White is vowing to make "bold and unrelenting" enforcement of Wall Street a high priority if she is confirmed chairman of the Securities and Exchange Commission. White, a former prosecutor, says investors need to know the playing field is level and that wrongdoers will be "aggressively and successfully" pursued.
US stocks waver after seven straight gainsNEW YORK (AP) _ Stock indexes are wavering between small gains and losses in early trading on Wall Street following a seven-day rally. The Dow Jones industrial was up 12 points, or 0.1 percent, at 14,459 as of 10 a.m. EDT.
Gov't fiscal outlook improving _ but only for nowWASHINGTON (AP) _ Despite constant budget wrangling and finger-pointing by the nation's policy-makers, the government's short-term fiscal outlook isn't all that bad. It's actually getting better _ at least for now. Washington is borrowing about 25 cents for every dollar it spends, down from over 40 cents just a few years ago.
Feds could add a million GM midsize cars to recallDETROIT (AP) _ U.S. safety regulators are investigating whether to add more than a million General Motors midsize cars to a recall for brake light problems. The National Highway Traffic Safety Administration says it's checking into complaints about the 2004 to 2011 Chevrolet Malibu and the 2007 to 2009 Saturn Aura.
Drugmakers, Interpol ramp up fight against fakesMore than two dozen of the world's largest pharmaceutical companies have agreed to provide funding and other support to Interpol's battle against counterfeit prescription drugs, the international police agency said Tuesday. Interpol's newly created Pharmaceutical Crime Program aims to help health agencies, police and customs bureaus in countries around the globe stem the supply of bogus brand-name and generic medicines, as well as identify and dismantle the organized crime rings distributing them.
UK fraud office launches inquiry in Autonomy caseLONDON (AP) _ Britain's Serious Fraud Office has launched an internal inquiry as to whether there is a conflict of interest in its use of software linked to a firm it is investigating. It acknowledged Tuesday that it's opened a probe into Hewlett-Packard's allegation that the personal computer maker was duped when buying the firm, Autonomy, in 2011.
FDA head says menu labeling 'thorny' issueWASHINGTON (AP) _ Diners will have to wait a little longer to find calorie counts on most restaurant chain menus, in supermarkets and on vending machines. Writing a new menu labeling law "has gotten extremely thorny," says the head of the Food and Drug Administration, as the agency tries to figure out who should be covered by it.
Airlines seek alternative for grounded 787ORLANDO, Fla. (AP) _ Some airlines are looking for short-term replacements for the grounded Boeing 787 as the busy summer travel season gets closer. Jeff Knittel of airplane leasing company CIT says airlines are talking to them about alternatives to the 787. He says leasing rates for similar planes like the Boeing 767 and the Airbus A330 have gone up slightly.
UK industrial output unexpectedly falls in JanuaryLONDON (AP) _ British industrial production fell sharply in January, official figures showed Tuesday, raising fears that the country will suffer its third recession in not much more than four years. The Office for National Statistics said industrial production dropped a monthly rate of 1.2 percent from December, in contrast to expectations for a 0.2 percent rise. Industrial output includes manufacturing, as well as sectors such as construction and oil and gas production, and accounts for around 20 percent of the British economy, which is Europe's third-largest.
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