Judge sets November date in suit over airlines merger
A federal judge said Friday that the government's lawsuit to block the proposed merger of American Airlines and US Airways will start Nov. 25, a timetable favored by the airlines. The U.S. Justice Department had wanted the trial to start in March, saying it needed more time to prepare for the complex case. The airlines said such a long delay would threaten their merger.
Consumer confidence slips over job market speculation
The University of Michigan says its measure of U.S. consumer confidence slipped this month from a six-year high in July. The index fell to 82.1 in August from 85.1 in July as Americans said they were less confident that the job market will improve but more confident that their income will rise.
Gold reaches highest level in more than three months
Gold is having a summer revival. The price of gold touched $1,420 an ounce this week, a three-and-a-half-month high, as escalating tensions in the Middle East, volatile currency markets and renewed demand for jewelry in China and India pushed prices higher. Gold has surged 15 percent since sinking to $1,212 an ounce, its lowest level in almost three years, June 27.
GE set to spin off consumer lending business with IPO
General Electric Co. plans to spin off the U.S. consumer lending business of its finance arm with an initial public offering of stock that could come early next year, according to The Wall Street Journal. The consumer finance business provides store credit cards to about 55 million people for retailers like Wal-Mart Stores Inc. It accounts for $50 billion of GE Capital's $274 billion in outstanding loans, according to the report.
Dunkin' Donuts rapped over 'racist' Thailand ad
Human Rights Watch has called on Dunkin' Donuts to withdraw a "bizarre and racist" advertisement for chocolate doughnuts in Thailand that shows a smiling woman with bright pink lips in blackface makeup. The Dunkin' Donuts franchise in Thailand launched a campaign earlier this month for its new "Charcoal Donut." The CEO for Dunkin' Donuts in Thailand dismissed the criticism as "paranoid American thinking."