Briefs: American reports $193M loss in March

Posted Tuesday, Apr. 30, 2013  comments  Print Reprints

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American reports $193M loss in March

American Airlines said it had a $193 million loss in March but would have had a $121 million net profit but for reorganization costs and accounting items, its corporate parent said in a bankruptcy court Tuesday.

AMR also said that its mainline carrier, American Airlines, had passenger revenues of $1.7 billion with its regional affiliates, including American Eagle, bringing in $253 million in revenues. Total revenues for the month were $2.19 billion.

— Andrea Ahles

Apple offers $17 billion in first bond issue

Apple Inc. began selling $17 billion in bonds Tuesday, one of the largest corporate bond issues ever, as part of an effort to raise money to give to shareholders through dividend payments and stock buybacks.

Apple has $145 billion in cash, more than enough for the $100 billion cash return program it announced last week. However, most of its money sits in overseas accounts, and the company doesn't plan to bring it to the U.S. unless the federal corporate tax rate is lowered.

— The Associated Press

Consumer confidence sees a rise in April

Americans are more optimistic that the job market is healing and will deliver higher pay later this year. That brighter outlook, along with rising home prices, cheaper gasoline and a surging stock market, could offset some of the drag from recent tax increases and government spending cuts.

A gauge of consumer confidence rose in April, reversing a decline in March, the Conference Board, a private research group, said Tuesday.

— The Associated Press

Wages show increase in first quarter of 2013

Americans' wages increased at a faster rate from January through March than the previous quarter, a trend that helped boost consumer spending at the start of the year. But benefits barely grew.

The Labor Department said Tuesday that an index that measures wages and benefits rose 0.3 percent during the first quarter. That's down from a 0.4 percent gain in the October-December quarter

— The Associated Press

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