Taiwan banks to handle Chinese yuan
02/05/2013 1:35am
Taiwanese banks are starting to allow their customers to make deposits, obtain loans, and buy bonds denominated in China's tightly controlled yuan, or renminbi _ another milestone in the ever tightening economic relations between the former rivals.
US military lifts ban on Afghan airline
02/05/2013 3:18am
The U.S. military has lifted a ban on contracts with an Afghan airline suspected of drug smuggling after the decision to blacklist the carrier sparked anger throughout the Afghan government.
Barclays raises mis-selling costs by $1.6 billion
02/05/2013 4:23am
Barclays PLC said Tuesday it is putting aside another 1 billion pounds ($1.6 billion) to cover the costs of scandals related to the mis-selling of financial products, raising speculation that other British banks may soon have to cough up more cash to cover similar scandals.
KPN stock plummets as company to issue new shares
02/05/2013 5:38am
Investors in Royal KPN NV, the Netherlands' largest telecommunications company, saw the value of their shares drop by more than a fifth Tuesday after it announced plans to issue (EURO)4 billion ($5.4 billion) in new shares to cut debt.
MasterCard doubling its quarterly dividend
02/05/2013 6:20am
MasterCard is doubling its quarterly dividend to 60 cents per share and says its board approved the repurchase of up to $2 billion of its common stock.
Praxair to buy carbonation co. NuCO2 for $1.1B
02/05/2013 6:20am
Gas supplier Praxair says it will buy soda carbonation company NuCO2 Inc. for $1.1 billion in cash, helping it expand into the restaurant business.
Stora Enso to slash 600 jobs despite Q4 profit
02/05/2013 6:38am
Nordic paper maker Stora Enso Oyj says that despite strong fourth quarter earnings it will slash 600 jobs due to the weak European economy.
Mitsubishi recalls electric cars for brake problem
02/05/2013 8:12am
Mitsubishi is recalling 14,700 of its i-MiEV ((EYE-meev)) electric cars worldwide because a brake pump can fail.
Banker accused of massive China real-estate fraud
02/05/2013 8:58am
As a bank officer from a poor region in rural China, Gong Ai'ai is an unlikely property baron. In a country where middle class workers can struggle to afford a single apartment in major cities, Gong is accused of amassing a real estate empire worth at least $160 million. Her alleged secret: corruption, kick-backs and multiple fake identities.
Takeover costs dent NYSE Euronext's Q4 profit
02/05/2013 8:58am
Costs related to its upcoming takeover and debt refinancing pushed net income at exchange operator NYSE Euronext down 75 percent in the fourth quarter of last year compared with a year earlier.
Duke Energy to close troubled Fla. nuclear plant
02/05/2013 9:14am
The largest U.S. electricity company said Tuesday it will permanently close a Florida nuclear power plant after botched repairs and use $835 million from an insurance settlement to refund consumers forced to pay for higher-cost replacement power.
UN report urges human rights probe of North Korea
02/05/2013 9:40am
The U.N. investigator for human rights in North Korea urged the world body Tuesday to open an inquiry into the secretive Asian nation for possible crimes against humanity.
Key allegations government is making against S&P
02/05/2013 9:57am
Here is the basis of the case the U.S. government is making against Standard & Poor's Ratings Services in a 128-page lawsuit:
Fitch downgrades Dutch outlook to negative
02/05/2013 10:12am
Ratings agency Fitch has downgraded the Netherlands' outlook from stable to negative while reaffirming the country's AAA rating.
Virgin confirms takeover talks with Liberty Global
02/05/2013 10:45am
Virgin Media Inc. has confirmed that it is in talks with Liberty Global Inc. over a possible takeover by the U.S. cable television giant.
News Summary: BP profit drops due to settlement
02/05/2013 11:39am
CRUDE CRUNCH: Oil and gas giant BP's fourth-quarter profit fell nearly 80 percent, dragged down by payouts related to the 2010 Gulf of Mexico oil spill. BP took a loss of $3.85 billion for its settlement of all federal criminal charges with the U.S. government.
Yum blindsided by KFC chicken scare in China
02/05/2013 12:18pm
When KFC was hit by a controversy over its chicken suppliers in China late last year, parent company Yum Brands offered free drinks and ice cream to bring diners back.
Giant paper company stops Indonesian deforestation
02/05/2013 12:18pm
One of the world's largest paper companies pledged Tuesday to stop its suppliers from cutting down natural forests in Indonesia, a move it hopes will help preserve the threatened habitats of rare animals such as orangutans and Sumatran tigers while helping to reduce greenhouse gas emissions released from carbon-rich peatland.
Duke Energy to close troubled Fla. nuclear plant
02/05/2013 1:56pm
The largest U.S. electricity company said Tuesday it will permanently close a Florida nuclear power plant after botched repairs and use $835 million from an insurance settlement to refund consumers forced to pay for higher-cost replacement power.
'Horseburger' firm blames 170 tons of Polish meat
02/05/2013 3:01pm
The Irish meat company at the center of Europe's "horseburger" scandal on Tuesday blamed the contamination of its hamburger patties on the purchase last year of 170 tons of meat imported from Poland.
3M boosts dividend, adds to share buyback pool
02/05/2013 3:10pm
3M Co., which makes Scotch tape, building supplies and other items, is increasing its dividend 8 percent and will add more money to a fund for share repurchases.
Expedia 4Q profit plunges 90 percent on charges
02/05/2013 3:27pm
Soaring hotel bookings pushed revenue higher at Expedia Inc., but the online travel agency's fourth-quarter profit fell 90 percent because of money it set aside to appeal a tax dispute in Hawaii.
Q&A: The federal charges against Standard & Poor's
02/05/2013 3:30pm
The U.S. government charged Standard & Poor's Ratings Services with misleading investors about the quality of mortgage-backed investments in the run-up to the financial crisis.
Consumer Reports questions turbocharged engines
02/05/2013 4:01pm
Consumer Reports is warning car buyers that turbocharged engines may not deliver the speed or fuel economy they expect.
US sues S&P over pre-crisis mortgage ratings
02/05/2013 4:12pm
The Obama administration on Tuesday accused Standard & Poor's of refusing to warn investors that the housing market was collapsing in 2006 because it would be bad for business.
News Summary: Justice Department sues S&P agency
02/05/2013 4:23pm
FEET OF CLAY? The government sued Standard & Poor's rating agency, accusing it of misleading investors by giving high marks to risky subprime mortgage investments.
S&P lawsuit: Emails suggest concern about ratings
02/05/2013 4:51pm
The government's case against Standard & Poor's points to documents that authorities say support their accusations _ namely, that S&P intentionally gave high marks to risky mortgage investments that eventually collapsed and helped trigger the financial crisis.
Biggest civil settlements for Justice Dept.
02/05/2013 5:54pm
The Justice Department has filed civil charges against Standard & Poor's, accusing the rating agency of refusing to warn investors that the housing market was collapsing in 2006 because it would be bad for business.
Liberty Global to buy Virgin Media for $16B
02/05/2013 8:20pm
Liberty Global Inc., the cable TV operator owned by media mogul John Malone, is buying U.K.-based Virgin Media Inc. in a deal valued at $16 billion.
China promises action on income gap
02/05/2013 9:00pm
China's government has issued a sweeping pledge to narrow the politically volatile gulf between its rich and poor with measures including requiring state companies to turn over more profits to pay for social programs.
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