AP Business NewsBrief at 2:36 a.m. EDT
(Associated Press Via Acquire Media NewsEdge) Senate to vote on measure to nullify union rulesWASHINGTON (AP) _ Senate Republicans are trying an unusual tactic to nullify new labor regulations that would speed up the time frame for unions to hold workplace elections. The Senate will vote Tuesday on a rarely invoked measure, known as a resolution of disapproval, to overturn rules approved last year by the National Labor Relations Board.
China's dream of electric car leadership elusiveBEIJING (AP) _ China's leaders are finding it's a lot tougher to create a world-beating electric car industry than they hoped. In 2009, they announced bold plans to cash in on demand for clean vehicles by making China a global power in electric car manufacturing. They pledged billions of dollars for research and called for annual sales of 500,000 cars by 2015.
China official says Proview owns iPad trademarkSHANGHAI (AP) _ Apple Inc. risks losing the right to use the iPad trademark in China, a senior official suggested Tuesday, as a Chinese court was seeking to mediate a settlement between the technology giant and a local company challenging its use of the iPad name. Yan Xiaohong, deputy director of the National Copyright Administration, told reporters in Beijing that the government regards Shenzhen Proview Technology as the rightful owner of the trademark for the popular tablet computers. His remarks could add to pressure on Apple to find a solution to the standoff.
Europe's debt fix falters, rattling marketsFRANKFURT, Germany (AP) _ Europe's plan to fix its debt crisis by imposing budget cuts frayed Monday. Heavy selling rocked financial markets, uncertainty gripped two governments, and the economic outlook darkened across the continent. The German stock market suffered its worst day in six weeks. In the United States, the Dow Jones industrial average lost more than 100 points.
Asia stocks fall as Europe debt turmoil growsBANGKOK (AP) _ Unsettling news about Europe's debt crisis and disappointing U.S. corporate earnings weighed on Asian stock markets Tuesday. Strong headwinds continued to emanate from Europe, where a festering, two-year debt crisis has begun jolting the region's political landscape.
Apple's squeeze hits phone companies, competitorsNEW YORK (AP) _ Apple is set to report another record quarterly profit on Tuesday, continuing the relentless string of results that's made it the world's most valuable company. Those profits don't come out of thin air: A range of businesses _from the company's wireless carrier friends to its PC-making foes_ are seeing their profits melt away and flow to Apple's bottom line. Apple's success is good for the U.S. economy, and some businesses, like software developers and memory-chip makers, have benefited from the disruption Apple is causing. But its enormous gains have resulted in others' pains, sometimes in unexpected places.
Bakken oil booms _ and so does crime on the PlainsGLASGOW, Mont. (AP) _ Drug crimes in eastern Montana have more than doubled. Assaults in Dickinson, N.D., have increased fivefold in just two years. And the once-sleepy town of Plentywood, Mont., has seen three assaults with weapons in the past few months _ a prospect previously unheard of in the tiny community tucked against the Canada border. Booming oil production has brought tens of thousands of jobs and hundreds of millions of dollars in new revenues to communities across a wide expanse of the Northern Plains. But it also has brought more crime, forcing law enforcement from the U.S. and Canada to deal with spiking offenses ranging from drug trafficking and gun crimes to prostitution.
Oil hovers near $103 amid EU economy worriesSINGAPORE (AP) _ Oil prices hovered near $103 a barrel Tuesday in Asia amid investor worries that Europe's debt crisis will undermine economic growth and crude consumption. Benchmark oil for June delivery was down 13 cents to $102.98 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell 77 cents to settle at $103.11 in New York on Monday.
US stocks slide on economic tremors from EuropeNEW YORK (AP) _ A collection of worrying news out of Europe sent stocks sharply lower on Monday. The Dutch government collapsed Monday, a day after French President Nicolas Sarkozy lost the first round of that country's presidential election. A new report showed that European government debt continues to pile up despite severe budget cuts, which have led to unrest and political upheaval across the continent.
Wal-Mart faces big fines amid bribery chargesNEW YORK (AP) _ Allegations that Wal-Mart Stores Inc. covered up the findings of an internal probe that proved its Mexican subsidiary bribed officials in that country could have huge implications for the world's biggest retailer and its executives. The alleged bribery scheme was revealed by The New York Times, which reported that Wal-Mart failed to notify law enforcement after the company's investigators found evidence of millions of dollars in bribes given to Mexican officials in exchange for getting building permits faster and other favors to help it aggressively expand in the region.
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