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AP Top Business News at 12:46 a.m. EST

Asian shares meander as ECB-inspired rally fades
KUALA LUMPUR, Malaysia (AP) -- Asian shares meandered Friday as an overnight rally in U.S. markets helped by the European Central Bank's decision to extend its bond-buying economic stimulus program faded. South Korea's benchmark slipped as lawmakers prepared to vote on whether or not to impeach President Park Geun-hye....

Gov't proposal envisions phone calls on airline flights
WASHINGTON (AP) -- Airlines could let passengers make in-flight phone calls using Wi-Fi under a proposal from federal regulators....

Fast-food CEO, Trump's pick for Labor, on racy TV ads
NEW YORK (AP) -- Andrew Puzder, who heads the company that owns Carl's Jr. and Hardee's, was tapped Thursday to head the Labor Department by President-elect Donald Trump....

Americans' odds of earning more than parents have plunged
WASHINGTON (AP) -- The likelihood that young adults will earn more than their parents has plummeted in recent decades, a study has found, fueling concerns that the American dream of steady upward mobility is foundering amid a widening wealth gap....

Banking on change: Tech startups target financial services
SAN FRANCISCO (AP) -- It may not be much longer before bank branches join video-rental stores and record shops as relics of a bygone era....

Official: Bristol-Myers Squibb to pay to settle allegations
SAN DIEGO (AP) -- Bristol-Myers Squibb Co. will pay $19.5 million to settle allegations that it promoted the anti-psychotic drug Abilify for unapproved uses and misled doctors about its dangers, it was announced Thursday....

Rollback of truck safety rules may be just the beginning
HAGERSTOWN, Md. (AP) -- The trucking industry scored a victory this week when Republican lawmakers effectively blocked Obama administration safety rules aimed at keeping tired truckers off the highway. But there's more coming down the road....

Japan ratifies Pacific trade pact that Trump plans to dump
TOKYO (AP) -- Japanese Prime Minister Shinzo Abe has won parliamentary approval for ratification of the Trans-Pacific Partnership, despite U.S. President-elect Donald Trump's plan to withdraw from the 12-nation trade pact....

Washington state suing agrochemical giant over PCB pollution
SEATTLE (AP) -- Washington on Thursday became the first U.S. state to sue the agrochemical giant Monsanto over pervasive pollution from PCBs, the toxic industrial chemicals that have accumulated in plants, fish and people around the globe for decades. The company said the case "lacks merit."...

Weather affects oil pipeline spill cleanup in North Dakota
BISMARCK, N.D. (AP) -- A company with a history of oil field-related spills in North Dakota and Montana is being hampered by winter weather in its cleanup of a "significant" pipeline break that leaked crude oil into a tributary of the Little Missouri River in western North Dakota, a regulator said Thursday....

Business Video
Captains of industry: Comparing CEO pay and performance
Unemployment by the numbers
Up to the Minute
Fast-food CEO, Trump's pick for Labor, on racy TV ads

Americans' odds of earning more than parents have plunged

Weather affects oil pipeline spill cleanup in North Dakota

Business Highlights

Gains for banks and materials lead stocks to all-time highs

How the Dow Jones industrial average finished Thursday

Lululemon and Tailored Brands surge; Gilead and Grumman drop

Figures on government spending and debt

Sales, profit at Sears continue downward spiral

Markets Right Now: US stock indexes close at record highs