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Preview: AP Top Business News At 2:42 p.m. EST

AP Top Business News at 12:07 p.m. EDT

AP Top Business News at 12:07 p.m. EDT

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Exxon's 1Q profit more than doubles on higher oil prices
IRVING, Texas (AP) -- Exxon more than doubled its profit in the first quarter as rising crude prices magnified the cost cuts made by the company as energy prices tumbled....

Court agrees to hold off ruling on carbon restrictions
WASHINGTON (AP) -- At the Trump administration's request, a federal appeals court agreed Friday to postpone a ruling on lawsuits challenging Obama-era restrictions on carbon emissions....

Senate confirms Alex Acosta as labor secretary
WASHINGTON (AP) -- Alex Acosta has been confirmed as the nation's new labor secretary, filling out President Donald Trump's Cabinet as he approaches his 100th day in office....

US economic growth weakened to 0.7 percent in first quarter
WASHINGTON (AP) -- The U.S. economy turned in the weakest performance in three years in the January-March quarter as consumers sharply slowed their spending. The result underscores the challenge facing President Donald Trump in achieving his ambitious economic growth targets....

Congress OKs bill averting Saturday gov't shutdown
WASHINGTON (AP) -- With just hours to spare, Congress easily approved a short-term spending bill Friday that would prevent a partial federal shutdown over the weekend. But on President Donald Trump's 99th day in office, lawmakers were leaving until next week without completing two other measures he's coveted: A Republican health care overhaul and a budget financing government for the entire year....

Appeals court upholds decision to block Anthem bid for Cigna
WASHINGTON (AP) -- A federal appeals court on Friday left in place a decision blocking Anthem Inc.'s bid to buy rival health insurer Cigna Corp, saying that a bigger company is not better for consumers....

Beyond 'fake news:' Facebook fights 'information operations'
NEW YORK (AP) -- Facebook is acknowledging that governments or other malicious non-state actors are using its social network to sway political sentiment, including elections....

Apple cuts off payments, Qualcomm slashes expectations
NEW YORK (AP) -- Qualcomm slashed its profit expectations Friday by as much as a third after saying that Apple is refusing to pay royalties on technology used in the iPhone....

The Latest: Trump signs order to expand ocean oil drilling
WASHINGTON (AP) -- The Latest on an executive order that could lead to expansion of drilling in the Arctic and Atlantic oceans (all times local):...

Time board: company not for sale; stock plunges
NEW YORK (AP) -- Time's stock is plummeting after the publisher said its board is not considering a sale of the company....