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AP Business NewsBrief at 2:50 a.m. EDT
(Associated Press Via Acquire Media NewsEdge) The next health care overhaul? Look to employersWASHINGTON (AP) _ If the Supreme Court strikes down President Barack Obama's health care law, employers and insurance companies _ not the government _ will be the main drivers of change over the next decade and maybe even longer. They'll borrow some ideas from Obamacare, and push harder to cut costs.
Democrats' latest tax target: Private corporationsWASHINGTON (AP) _ First it was people earning at least $1 million a year. Now Democrats seeking their next election-year target for tax increases on better-off Americans may have found it: the owners of many privately held corporations. Democrats are considering trying to make it harder for owners of so-called S corporations to avoid paying Social Security and Medicare payroll taxes on some of their earnings, said a Senate Democratic aide speaking on condition of anonymity to reveal an emerging party strategy.
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.
(c) 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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