Archive:
(52 Stories)
Philippine economy expands 6.8 percent in 4Q
01/31/2013 12:11am
The Philippine economy expanded 6.8 percent in the fourth quarter of last year, lifted by a strong performance from service industries, the government said Thursday.
Cyprus jobless turn to illegal songbird trapping
01/31/2013 1:39am
It's just before first light and the bird-catcher strings nets among the orange, pomegranate, fig and carob trees in his orchard. The sound of chirping emanates from inside a massive carob _ a trick sent from speakers to attract tiny songbirds. By mid-morning, the man disentangles about a half-dozen blackcaps, snaps their necks with his teeth and drops them in a bucket.
Indonesian court declares Batavia Air bankrupt
01/31/2013 2:59am
Indonesia's commercial court has declared budget carrier Batavia Air bankrupt just months after AirAsia, Southeast Asia's top low-cost airline, aborted a deal to invest in it, officials said Thursday.
ANA to seek damages from Boeing for 787 woes
01/31/2013 3:10am
Japan's All Nippon Airways is prepared to recoup from Boeing whatever damages it suffers from flight cancellations and other costs caused by the worldwide grounding of 787 jets, a senior executive said Thursday.
SKorea chaebol chief sentenced to 4 years prison
01/31/2013 3:32am
A South Korean court sentenced the chairman of the country's third-biggest conglomerate to four years in prison on Thursday for embezzling millions of dollars of company money for personal investments.
Scientific Games buying WMS for about $1.42B
01/31/2013 6:11am
Instant-win lottery ticket company Scientific Games is buying gaming equipment company WMS Industries Inc. for about $1.42 billion in order to broaden its product offerings.
Dow Chemical sees deterioration in China in 4Q
01/31/2013 6:14am
Dow Chemical saw significant deterioration in key markets during the fourth quarter, particularly in China, and posted a wider fourth-quarter loss Thursday.
News Summary: Dow Chemical 4Q loss widens
01/31/2013 6:48am
DOW DOWN: Dow Chemical posted a fourth-quarter loss of $716 million, or 61 cents per share, compared with a loss of $20 million, or 2 cents per share, in the same quarter the year before. Excluding one-time charges, the company earned 33 cents per share, a penny shy of Wall Street estimates.
Danish Novo Nordisk profit surges
01/31/2013 6:57am
Danish pharmaceutical company Novo Nordisk A/S on Thursday reported a 23 percent growth in fourth-quarter net profit on strong sales of diabetic drugs and gave a positive outlook as regulators worldwide begin to approve its latest range of insulin products.
News Summary: Marlboro maker Altria 4Q profit up
01/31/2013 7:14am
THE RESULTS: Marlboro maker Altria Group's fourth-quarter profit rose about 32 percent to $1.1 billion as it commanded higher prices for cigarette and smokeless tobacco and expanded its industry-leading share of the U.S. market. Revenue, excluding excise taxes, rose 3 percent to $4.46 billion.
GM taps VW exec to run troubled Opel unit
01/31/2013 7:33am
General Motors has appointed the former head of Volkswagen's China business to try and turn around its lossmaking European division, Opel.
News Summary: Scientific Games buying WMS
01/31/2013 8:07am
GAMING DEAL: Scientific Games Corp., an instant-win lottery ticket company, is buying gaming equipment company WMS Industries Inc. for approximately $1.42 billion. Scientific Games, which also makes video slot machines and other gaming systems, said the deal will expand its product offerings.
News Summary: MasterCard net income rises in 4Q
01/31/2013 8:30am
BOUNCING BACK: MasterCard's net income rebounded in the fourth quarter after a year-earlier period that was weighed down by a legal charge.
Durex launches condom delivery service in Dubai
01/31/2013 9:08am
Need a condom delivered to your doorstep in an hour? Then Dubai is the place to be.
Former Joint Chiefs chair Mullen joins GM board
01/31/2013 9:48am
General Motors is expanding its board to include former Joint Chiefs of Staff Chairman Michael Mullen.
News Summary: Ethanol industry turns to scraps
01/31/2013 10:30am
TRASH TALK: The ethanol industry is building refineries in several states that will use corn plant residue, wood scraps and even garbage to produce the fuel additive.
News Summary: Constellation shares sink over suit
01/31/2013 10:38am
THE TRIGGER: Shares of Constellation Brands fell after the Justice Department sued to block Anheuser-Busch InBev's proposed purchase of Mexican brewer Grupo Modelo, which the government said could lead to higher beer prices for Americans.
Shell earnings rise in Q4 on refining turnaround
01/31/2013 10:39am
Royal Dutch Shell PLC said Thursday it plans to continue investing aggressively in new projects in the coming years, as it sees a bright future for the oil and gas industry despite economic uncertainties around the world.
Q4 profit up to $543 million for Spain's Santander
01/31/2013 10:46am
Spain's Banco Santander says it made a net profit of (EURO)401 million ($543 million) for 2012, up from (EURO)47 million for the same period a year earlier, but saw its annual total drop by almost 60 percent.
News Summary: Fishermen say new rules mean ruin
01/31/2013 10:48am
TIPPING THE SCALES: The New England Fishery Management Council has approved a 77 percent cut on the Gulf of Maine cod limit and 61 percent for Georges Bank cod. They follow a slew of other reductions on catches of other fish.
Diageo net profit rose 61 percent
01/31/2013 10:49am
Distiller Diageo PLC's net profit rose to 1.54 billion pounds ($2.43 billion) in the six months ending on Dec. 31, up 61 percent on the same period last year, thanks to cost-cutting in Asia, strong sales in America and price hikes across its markets, the company said Thursday.
Constellation sinks as US sues to block beer deal
01/31/2013 11:01am
Shares of Constellation Brands sank Thursday after the U.S. Justice Department filed an antitrust lawsuit challenging Anheuser-Busch InBev's proposed $20.1 billion purchase of Mexican brewer Grupo Modelo, which harms chances of a related Constellation deal.
Poland: No proof yet horsemeat came from country
01/31/2013 11:06am
Poland is conducting DNA tests on meat samples at seven facilities to see if any are the source of horsemeat discovered this month in Irish-produced burgers, a senior meat safety official said Thursday.
Romanians, Bulgarians answer UK immigration fears
01/31/2013 11:07am
The scaremongering is all over British tabloids: Romanians and Bulgarians (Pickpockets! Scam artists! Scroungers!) flooding into the UK by the thousands once work restrictions are lifted next year.
LVMH cashes in on rising luxury goods demand
01/31/2013 11:24am
French luxury conglomerate LVMH Moet Hennessy Louis Vuitton confirmed Thursday that it's recession-proof: Net profit rose 12 percent last year, as wealthy customers snatched up its Bulgari jewelry and flocked to its luxury malls.
TRI Pointe Homes rises in 1st day of trading
01/31/2013 11:30am
Shares of TRI Pointe Homes climbed in the home builder's first day of trading. The stock was up $2.15, or 12.7 percent, to $19.15 in Thursday afternoon trading.
Hostess picks lead bidders for Twinkies
01/31/2013 11:31am
Hostess has picked a lead bid for its famous Twinkies.
Fiat Industrial sees growth from US unit merger
01/31/2013 11:40am
Italian heavy-duty vehicles maker Fiat Industrial reported a 20 percent increase in fourth quarter profit Thursday and forecast revenue would increase 5 percent in 2013 as it completes the full merger with its U.S.-based farm and construction equipment maker, CNH.
Greece accepts $31 million bid for island plot
01/31/2013 11:44am
Greece's state privatization fund says it has accepted a (EURO)23 million ($31 million) bid from New York-based investors to develop real estate on the western resort island of Corfu.
Doritos to roll out chips in 'Taco Bell' flavor
01/31/2013 11:57am
Frito-Lay wants a bigger bite of Taco Bell's popular Doritos Locos Tacos.
US challenges deal to merge Budweiser and Corona
01/31/2013 12:11pm
The Justice Department filed a lawsuit Thursday to stop Anheuser-Busch InBev's proposed $20.1 billion purchase of Mexican brewer Grupo Modelo, which would unite the ownership of popular beers like Budweiser and Corona.
News Summary: Obama jobs council shuts down
01/31/2013 12:12pm
EXPIRATION: President Barack Obama will not renew his Council on Jobs and Competitiveness, winding down one source of input from the business community even as unemployment remains stubbornly high.
EU top court sides against Ryanair in volcano case
01/31/2013 12:54pm
The European Union's top court said Thursday that Irish low-cost airline Ryanair has to pay out compensation to passengers that were stranded due to the 2010 volcano eruption in Iceland.
UK watchdog investigates banks for mis-selling
01/31/2013 12:55pm
The Financial Services Authority said Thursday it is reviewing practices of the U.K.'s big retail banks after finding serious problems with the sale of interest rate hedging products to small businesses.
News Summary: NYT says China hacked its computers
01/31/2013 1:21pm
THE GREAT BREACH: Chinese hackers repeatedly penetrated The New York Times' computer systems over the past four months, stealing reporters' passwords and hunting for files on an investigation into the wealth amassed by the family of a top Chinese leader, the newspaper reported Thursday.
Lender Processing paying $121M to resolve claims
01/31/2013 1:45pm
One of the biggest U.S. mortgage processing companies has agreed to pay $121 million to resolve states' claims that it wrongfully foreclosed on homeowners who should have been allowed to stay in their homes.
Triaminic and Theraflu bottles recalled
01/31/2013 1:46pm
Some bottles of Triaminic and Theraflu cold and allergy syrups are being recalled because the child-resistant bottle caps may be defective.
Buffett's firm buys Greensboro, NC, newspaper
01/31/2013 2:18pm
Warren Buffett's Berkshire Hathaway Inc. said Thursday that it is adding the Greensboro, N.C., News & Record to its growing newspaper division.
News Summary: Economy competes with Obama agenda
01/31/2013 2:44pm
OLD PROBLEM: Just as President Barack Obama is pushing new initiatives on gun control and immigration, the sluggish economy is elbowing its way back in. Consumer confidence is falling, the economy is contracting and large automatic spending cuts loom, with uncertain consequences.
Report: Small business hiring edged up in January
01/31/2013 2:53pm
Small businesses nudged up their hiring during January for a second straight month, according to a survey released Thursday.
News Summary: Gold sinks after incomes rise
01/31/2013 3:24pm
LOSING LUSTER: Prices for gold and silver fell Thursday, after a report showed Americans income surged in December.
Gasoline prices get early start on spring surge
01/31/2013 3:24pm
Gasoline prices are getting an early start on their annual spring march higher.
You can now be charged more for paying with a credit card
01/31/2013 3:30pm
Merchants in Utah and 39 other states can now charge you extra for paying with plastic.
NC, Ore. Daimler Trucks plants may lose 1,300 jobs
01/31/2013 3:45pm
Daimler Trucks North America warned Thursday that about 1,300 factory jobs could be lost in North Carolina and Oregon, reversing course a year after announcing a rebound in U.S. and overseas commerce was boosting demand for freight-hauling equipment.
News Summary: Pfizer disputes lawsuit over Zoloft
01/31/2013 3:57pm
RARE CASE: A federal lawsuit claims popular antidepressant Zoloft has no more benefit than a dummy pill, so patients who took it should be reimbursed for their costs.
Wall Street January Highlights
01/31/2013 4:04pm
Stocks got off to a great start this year, with the Dow Jones industrial average and the Standard and Poor's 500 posting impressive returns. These are some statistics about the January surge, according to S&P Dow Jones Indices:
Union agrees to back off Wal-Mart protests
01/31/2013 4:17pm
Labor groups say they will end their picketing at Wal-Mart stores for at least 60 days as part of a settlement with the National Labor Relations Board. But they vowed they will continue to press the world's largest retailer to better overall working conditions, including wages.
Hacked: NY Times, Wall Street Journal infiltrated by Chinese hackers
01/31/2013 5:19pm
Chinese hackers repeatedly penetrated The New York Times' computer systems over the past four months, stealing reporters' passwords and hunting for files on an investigation into the wealth amassed by the family of a top Chinese leader, the newspaper reported Thursday.
Hacked: NY Times, Wall Street Journal infiltrated by Chinese hackers
01/31/2013 5:19pm
Chinese hackers repeatedly penetrated The New York Times' computer systems over the past four months, stealing reporters' passwords and hunting for files on an investigation into the wealth amassed by the family of a top Chinese leader, the newspaper reported Thursday.
China companies plan to step up Europe investment
01/31/2013 7:18pm
Chinese companies plan to step up investment this year in Europe, which some see as more welcoming than the United States, a European business group says.
Suit claiming Hebrew National not kosher dismissed
01/31/2013 8:19pm
A federal judge threw out a lawsuit Thursday that claimed Hebrew National's hot dogs and other meat products weren't entirely kosher, saying such a standard was "intrinsically religious in nature" and outside the court's purview.
Korean Air's 4Q profit triples on currency gain
01/31/2013 10:18pm
Korean Air Lines Co. says fourth quarter profit more than tripled because of the stronger won, masking losses from a weak cargo business.
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