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Associated Press

Posted on April 22, 2013 at 11:00 AM

Editors:

Among the stories for Monday from The Associated Press:

TOP STORIES:

FAA-FLIGHT DELAYS

Travelers braced for delays throughout the system as air traffic controller furloughs resulting from federal budget cuts entered their second day. By Airlines Writer Scott Mayerowitz.

AP photos, video, audio.

EARNS-CATERPILLAR

MINNEAPOLIS — A slowdown in the mining business is digging a hole in Caterpillar's profits. The company said first-quarter profits shrank 45 percent and it predicted smaller-than-expected 2013 sales and profits because its mining business is slowing. Sales of Caterpillar-branded mining machines will drop by half this year. By Joshua Freed.

MARKETS & ECONOMY:

HOME SALES

WASHINGTON — Sales of previously occupied U.S. homes dipped in March as the supply remained tight, though the pace remained ahead of last year's. The National Association of Realtors says sales dipped to a seasonally adjusted annual rate of 4.92 million, from 4.95 million in February. February's figure was revised lower. By Christopher S. Rugaber.

BUSINESS ECONOMISTS SURVEY

NEW YORK — Washington's belt tightening is having just a minimal effect on businesses, according to a survey of business economists.

— GLOBAL M&A — Companies around the world are still reluctant to go on the acquisition trail even though they are becoming are more confident about the global economy, a survey found Monday. In its half-yearly assessment of the intentions of big companies, accounting and consultancy firm Ernst & Young said the growing optimism has yet to be translated into more investment or corporate deal-making. AP photos

MEDICAID EXPANSION-SAYING NO

WASHINGTON — Rejecting the Medicaid expansion in the federal health care law could have unexpected consequences for states where Republican lawmakers remain steadfastly opposed to what they scorn as "Obamacare."

AP photo.

WALL STREET

NEW YORK — Stocks are slipping on Wall Street at the start of a big week for company earnings.

— OIL PRICES — The price of oil rose modestly above $88 a barrel as traders returned to commodities after big sell-offs last week.

EARNINGS:

EARNS-HALLIBURTON

HOUSTON — Halliburton says it lost $18 million in the first quarter, pulled down by $637 million in charges related to its role in the 2010 Gulf of Mexico oil spill. By Bree Fowler and David Koenig.

AP photo.

— EARNS-HASBRO — Hasbro reported first-quarter results that beat Wall Street expectations as the toy maker benefited from an online contest that let people vote to eliminate one of its Monopoly tokens and introduce a new one. By Candice Choi. AP photo.

INDUSTRY:

— SUPREME COURT-TOBACCO MARKETING — The Supreme Court has rejected a First Amendment challenge by tobacco companies to a 2009 law that restricts how they can market their products.

— GERMANY-LUFTHANSA STRIKE — Ground staff at Lufthansa, Germany's biggest airline, walk off the job on a one-day strike that prompted the company to cancel most of the day's 1,700 scheduled flights and left it complaining of "excessive" union tactics. The strike by airline technicians and service personnel across Germany started in the early hours. AP photos

— ISRAEL-AIRLINE STRIKE — Israeli airlines continue strike over 'Open Skies' deal with EU, travelers left stranded. AP photos.

TECHNOLOGY & MEDIA:

— GERMANY-GOOGLE — A German data protection agency fined Google Inc. 145,000 euros ($189,000) for illegally recording information from unsecured wireless networks — an amount it acknowledged is "totally inadequate" as a deterrent to the multinational giant.

— NETHERLANDS-EARNS-PHILIPS — Royal Philips NV, the maker of lights, consumer appliances and health care equipment, reports a fall in first quarter profit due to weak sales, and because last year's figures included one-time gains.

— SKOREA-EARNS-LG DISPLAY — South Korean panel giant LG Display Co. says it logged a small profit in the first three months of the year, reflecting slackening orders from its key client, Apple Inc., during a typically slow period for consumer electronics. Analysts say the company probably sold fewer iPhone and iPad screens.

INTERNATIONAL:

EUROPE-FINANCIAL CRISIS

LONDON — The austerity pain being pursued by a number of European countries led to very little gain in 2012, official figures show.. The year-end figures from Eurostat, the European Union's statistics office, show that a number of the countries at the forefront of Europe's financial crisis saw their borrowings rise — even though they have pursued the strict austerity medicine prescribed by international creditors to keep their debt levels down. By Pan Pylas.

AP photos

With

— EUROPE-FINANCIAL CRISIS-GLANCE— A look at public deficit levels in the euro currency bloc.

GERMANY-ECONOMY

BERLIN — The German government's tax income has continued to swell this year, thanks in part to a solid labor market in Europe's biggest economy. The Finance Ministry said in its monthly report that Germany's federal and state governments saw their total tax take increase 5.7 percent in March compared with a year earlier to nearly 51.7 billion euros ($67.5 billion).

— GERMANY-ANTI-EURO PARTY— Germany's vice chancellor says a new party that opposes the euro is bad for his country and he wouldn't consider bringing it into a future coalition government. The Alternative for Germany party advocates scrapping the euro in its current form.

— VENEZUELA-CABINET SHUFFLE — Newly elected Venezuelan leader Nicolas Maduro has shuffles his Cabinet, putting allies of late president Hugo Chavez in positions to tackle pressing problems including widespread power outages and double-digit inflation.

—NEW ZEALAND-DROUGHT BREAKS — New Zealand's farmers are relieved that a deluge has ended the country's most widespread drought in 30 years. AP photo.

— IRAN — Iranian media warn of public backlash over latest food price hikes ahead of election.

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