Saudi group sells majority stake in NY's Plaza
12/04/2012 1:36am
The investment firm headed by Saudi billionaire Prince Alwaleed bin Talal says it has sold a majority stake in The Plaza Hotel in New York to a major Indian real estate conglomerate in a $575 million deal.
Russia's Abramovich buys Norilsk stake to end feud
12/04/2012 4:01am
Russian tycoon Roman Abramovich will buy a stake in miner Norilsk Nickel to end a long-running feud between two fellow oligarchs.
Japan tunnel disaster shows aging of public works
12/04/2012 4:04am
The deadly collapse last weekend of hundreds of concrete ceiling slabs in a tunnel outside Tokyo is raising calls for more spending on Japan's aging infrastructure, but the country might simply not have the money.
NJ's largest utility sees Sandy costs up to $300M
12/04/2012 7:25am
Public Service Electric and Gas is estimating the cost of power restoration after Superstorm Sandy and a subsequent Nor'easter at between $250 million and $300 million.
Vail Resorts posts 1Q loss, backs off outlook
12/04/2012 8:25am
Ski resort operator Vail Resorts said Tuesday its fiscal first-quarter loss increased and warned it may not hit its expected earnings target this year.
News Summary: Factory fire kills 14 in China
12/04/2012 9:23am
DEADLY FIRE: A fire in a clothing factory apparently caused by arson killed 14 people in southern China on Tuesday, officials and state media said.
NJ's largest utility sees Sandy costs up to $300M
12/04/2012 9:53am
Public Service Electric and Gas is estimating the cost of restoring power after Superstorm Sandy and a subsequent Nor'easter at between $250 million and $300 million.
News Summary: Japan public works showing age
12/04/2012 10:07am
TUNNEL TROUBLE: The collapse of hundreds of concrete ceiling slabs in a tunnel outside Tokyo is raising calls for more spending on Japan's aging infrastructure, but the country might not have the money.
News Summary: Baxter to buy Gambro in $2.76B deal
12/04/2012 12:22pm
THE DEAL: Drug and medical device maker Baxter International Inc. said Tuesday it plans to buy the privately held Swedish company Gambro AB for about $2.76 billion. The deal is worth about $4 billion, counting debt.
After Sandy, NYC pins housing hope on repairs
12/04/2012 1:26pm
Facing Superstorm Sandy's daunting toll of wreckage and displacement in the nation's largest city, officials have put much of their hopes and hundreds of millions of dollars into jump-starting repairs to make homes livable.
Icahn gives up bid for truck maker Oshkosh
12/04/2012 2:12pm
Billionaire investor Carl Icahn is giving up his bid to buy truck maker Oshkosh after less than 25 percent of the company's shares were tendered before his offer expired.
Exxon Mobil to give CEO a raise to $2.7 million
12/04/2012 2:57pm
Exxon Mobil Corp. is raising CEO Rex W. Tillerson's salary 6 percent to $2.72 million on Jan. 1.
News Summary: Darden cuts outlook
12/04/2012 3:09pm
BAD TASTE: Darden Restaurants Inc. is cutting its profit forecast for the year, with the owner of Olive Garden and Red Lobster blaming failed promotions and negative publicity.
Ford investigating engines in Europe for fire risk
12/04/2012 3:19pm
Ford is expanding an investigation of engine fires to Europe.
Baxter to buy Swedish firm Gambro in $2.76B deal
12/04/2012 3:29pm
Drug and medical device maker Baxter International plans to buy the privately held Swedish company Gambro AB for about $2.76 billion to broaden its dialysis product portfolio.
Toll Brothers 4Q net income soars on tax benefit
12/04/2012 3:34pm
Toll Brothers says its fiscal fourth-quarter net income soared, helped by a large income tax benefit and a 48 percent rise in revenue. The luxury homebuilder delivered more homes and its order backlog increased.
News Summary: Fast-growing salmon in FDA limbo
12/04/2012 3:36pm
STAYING AFLOAT: A Massachusetts biotech firm that was poised to become the first company to sell a genetically-modified fish says it may run out of money before regulators approve its fast-growing salmon.
News Summary: Icahn gives up bid for Oshkosh
12/04/2012 3:42pm
THROWING IN TOWEL: Billionaire investor Carl Icahn gave up his bid to buy truck maker Oshkosh after less than 25 percent of the company's shares were tendered before his offer expired.
News Summary: FedEx to offer buyouts
12/04/2012 4:01pm
BUYOUTS FOR BYE-BYES: FedEx will offer some employees up to two years' pay to leave, starting next year. The voluntary program is part of an effort by the world's second-biggest package delivery company to cut annual costs by $1.7 billion within three years.
HSBC sells Ping An stake to Thai conglomerate
12/04/2012 8:52pm
HBSC says it is selling its 15.6 percent stake in China's Ping An Insurance to a Thai conglomerate for about $9.4 billion.
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