Zara owner Inditex sees 9-month profit up 27 pct
12/12/2012 1:37am
Spanish clothes retailer Inditex, which owns the Zara store chain, has posted a 27 percent increase in net profit for the first nine months of 2012 as it continued expanding in Asian and North America.
Correction: US-Bangladesh-Factory Fire-Retailers
12/12/2012 2:28am
In a story Dec. 11 about the clothing industry's efforts to avoid factory fires, The Associated Press misspelled the last name of the head of vendor relations at the German company Tchibo. Her name is Nanda Bergstein, not Nanda Bernstein.
UK unemployment by biggest amount since 2001
12/12/2012 3:15am
Official data shows that unemployment in the United Kingdom dropped to 7.8 percent in the three months to October as the number of jobless fell by its largest amount since 2001.
Rosneft buys other half of TNK-BP for $28 billion
12/12/2012 3:59am
Rosneft has signed an agreement to purchase 50 percent in Russia's third-largest oil producer TNK-BP for $28 billion, having earlier acquired the other half from BP.
Global corporate deals nearly halved in 5 years
12/12/2012 4:31am
The value of mergers and acquisitions deals around the world in 2012 was nearly half the amount made five years ago, when the financial crisis first bared its teeth, a leading accounting and consulting firm said Wednesday.
Your drink: now the most pleasant part of flying
12/12/2012 5:40am
Airlines have found a way to take the edge off the stress of flying and make a few extra bucks along the way: fancy new cocktails, craft beers and elegant wines.
Serbia's billionaire retail tycoon detained
12/12/2012 6:24am
Serbia's billionaire retail tycoon and one of the Balkan country's most influential figures was detained Wednesday in what the nationalist government said is a major anti-corruption sweep.
India industrial output rises 8.2 pct in October
12/12/2012 6:48am
Industrial production in India soared 8.2 percent in October, a sharp spike for Asia's third largest economy but industry viewed the data with some caution.
Lilly plans another study for Alzheimer's drug
12/12/2012 7:47am
Eli Lilly and Co. will launch another study of its possible Alzheimer's treatment solanezumab, a move that delays a regulatory decision on a drug that flashed potential to help patients with mild cases of the fatal, mind-robbing disease.
Qatargas reaches 20-year supply deal for Thailand
12/12/2012 8:50am
Qatar's state-backed natural gas producer says it has signed a long-term supply deal with Thailand's national energy company. It's part of the Gulf nation's expanding reach into Asia.
UN: Over 2 million Afghans at risk this winter
12/12/2012 9:06am
More than 2 million Afghans are at risk from cold, disease and malnutrition this winter as an international appeal for funds to help one of the world's poorest countries has fallen drastically short of its goal, the United Nations and several humanitarian agencies warned on Wednesday.
Polish energy advisor: keep using coal for energy
12/12/2012 9:37am
An advisor to the Polish government says the country should keep using its coal for decades to come, despite a European Union policy of replacing the polluting fossil fuel with cleaner sources.
Questions and answers about the US 'fiscal cliff'
12/12/2012 10:07am
Congress and the White House are struggling to avoid the "fiscal cliff," the package of huge tax increases and spending cuts that kick in next year unless a budget agreement is reached first.
OPEC keeps output target on hold amid weak economy
12/12/2012 10:11am
OPEC ministers agreed to keep their daily crude production target unchanged at a meeting Wednesday. But in a sign of internal rivalries, they failed to reach consensus on a new secretary general, a post sought by Saudi Arabia, Iran and resurgent oil-power Iraq.
Times of London editor says he was pushed to quit
12/12/2012 10:49am
James Harding, editor of media mogul Rupert Murdoch's Times of London, announced he was resigning Wednesday, and said he was pressured to step down.
News Summary: Mich. becomes right-to-work state
12/12/2012 12:18pm
RIGHT-TO-WORK: In mere days, Republicans have converted Michigan from a seemingly impregnable fortress of organized labor into a right-to-work state, leaving outgunned Democrats and union activists with little recourse but to seek retribution at the ballot box.
News Summary: Lawmakers to rekindle mining reform
12/12/2012 12:41pm
ROYALTY REVIEW: Congressional auditors say the government reaps billions in royalties each year from fossil fuels extracted from federal lands and waters, but gets none from gold, uranium or other metals mined from those places.
News Sumamry: OPEC keeps output target on hold
12/12/2012 12:52pm
PRODUCTION LEVEL: OPEC ministers agreed to keep their daily crude production target unchanged at a meeting Wednesday. But in a sign of internal rivalry, they failed to reach consensus on a new secretary general.
Report: Most Pakistani lawmakers do not file taxes
12/12/2012 1:02pm
The majority of Pakistani lawmakers do not file tax returns despite a legal requirement to do, a report said Wednesday, reinforcing concerns about the low level of tax revenue in the country.
Fed's moves to aid economy since financial crisis
12/12/2012 1:07pm
The Federal Reserve has taken many unprecedented steps in the past four years to try to boost the U.S. economy and counter the effects of a financial crisis that triggered a painful recession. It has kept the short-term interest rate it controls at a record low near zero since December 2008.
Polish parliament passes 2013 budget
12/12/2012 1:26pm
Poland's lower house of parliament has approved a 2013 budget that foresees a slightly lower deficit than that expected for this year.
Avon to cut 4 pct of jobs in global restructuring
12/12/2012 2:34pm
Avon Products plans to cut about 1,500 jobs and exit two Asian markets, as the struggling beauty products seller starts on a broad restructuring plan in an effort to turn around results.
Berkshire Hathaway spends $1.2B on share buyback
12/12/2012 2:38pm
Warren Buffett's company paid $1.2 billion to repurchase 9,200 Class A shares from the estate of a longtime shareholder, and Berkshire Hathaway said Wednesday that its board approved paying higher prices for future buybacks.
Fed projects high unemployment for next 3 years
12/12/2012 2:50pm
The Federal Reserve projects the unemployment rate will stay elevated until late 2015, suggesting it will keep short-term interest rates low for the next three years.
German government fails to salvage Swiss tax deal
12/12/2012 3:40pm
The German government has failed in an attempt to salvage a deal that was meant to end a long-running dispute with Switzerland over German tax cheats who hide money in Swiss banks.
Questions and answers on the Fed's latest actions
12/12/2012 3:40pm
The Federal Reserve on Wednesday stepped up its drive to boost economic growth and lower unemployment. It's changing its criteria for when it might start raising its key short-term interest rate from a record low near zero. It will also keep buying Treasury bonds to keep long-term rates low and encourage more borrowing and spending.
6 tips on how to weather a financial apocalypse
12/12/2012 3:52pm
The Mayan calendar is supposed to end next week and that has led some to believe we're on a countdown to a global apocalypse.
News Summary: Financial tips to ride out disasters
12/12/2012 3:53pm
APOCALYPSE PREP: The supposed end of the ancient Mayan calendar has led some to believe it will usher in the end of the world. But whether one aims to survive doomsday or ride out the aftermath of an economic meltdown or superstorm, experts say being financially ready is the first step to being prepared.
American Airlines rolls out new fare structure
12/12/2012 4:12pm
American Airlines is changing the way it charges you to fly.
News Summary: Airlines offer fancy drinks
12/12/2012 4:49pm
SKY HIGH: Airlines have found a way to take the edge off the stress of flying and make a few bucks along the way: fancy cocktails, craft beers and elegant wines.
US airlines adding Internet on overseas flights
12/12/2012 5:02pm
Airline passengers can already get online 30,000 feet over Oklahoma. Soon U.S. airlines will offer Internet connections over the ocean, too.
US airlines adding Internet on overseas flights
12/12/2012 5:05pm
Airline passengers can already get online 30,000 feet over Oklahoma. Soon U.S. airlines will offer Internet connections over the ocean, too.
Hands off our heritage: Some wary of China's reach
12/12/2012 6:00pm
Life in this French village revolves around wine. The backyards of its tidy houses nurture the grapes that have made Burgundy famous the world over. At an auto repair shop, everyone seems to have an opinion about the recent sale of a local vineyard to a Macau casino magnate.
Japan bank to pay $8.6M to settle US probe
12/12/2012 7:54pm
Japan's Bank of Tokyo-Mitsubishi UFJ has reached an $8.6 million settlement with the U.S. Department of the Treasury over a violation of U.S. rules forbidding the transfer of money to nations such as Cuba and Iran.
Bank repossessions hit 9-month high in November
12/12/2012 10:02pm
U.S. home repossessions rose to a nine-month high in November, even as the number of homes starting on the path to foreclosure declined to the lowest level in six years.
Union, grain terminal companies reviewing options
12/12/2012 10:45pm
At the request of a federal mediator, Pacific Northwest grain terminal companies and the longshore union have talked twice this week in an effort to negotiate a contract.
Utah best for business for third straight year, Forbes says
12/12/2012 11:21pm
For the third straight year, a business publication has awarded the Beehive State top honors as a place to do business in the United States.
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