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Overseas stocks slip...Existing home sales report due Samsung Tizen system coming to India

By The Associated Press | Posted - Sep. 22, 2014 at 4:40 a.m.



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TOKYO (AP) — International stock markets fell today ahead of a preliminary manufacturing survey due tomorrow from China that might show renewed weakness in the world's second-largest economy. Futures point to a lower opening today on Wall Street. The dollar is lower against the yen and the euro. Benchmark crude oil slipped below $91.50 a barrel.

WASHINGTON (AP) — There are two major housing reports due out in the first half of the week. Today, the National Association of Realtors will release existing home sales for August. And on Wednesday, the Commerce Department will report on new home sales for August.

SEOUL, South Korea (AP) — Samsung Electronics Co., which faces a slowdown in emerging market smartphone sales, will release its long-delayed Tizen-powered handset in India before the end of this year. An official tells Economic Times the target release date is November. The Tizen mobile platform is Samsung's effort to build its own mobile ecosystem akin to Google's Android and Apple's iOS. Samsung is the world's biggest smartphone supplier.

HOUSTON (AP) — German electronics and engineering company Siemens AG has reached a deal to acquire oilfield equipment maker Dresser-Rand, based in Texas and Paris for $7.6 billion. Siemens says Dresser-Rand's portfolio of compressors, steam and gas turbines and engines complements Siemens' existing offerings mainly in the growing global oil and gas and power generation businesses.

BEIJING (AP) — A U.S. meat supplier says most of the workforce is out at a Chinese subsidiary accused of selling expired beef and chicken to McDonald's, KFC and other major restaurant chains. Shanghai Husi Food Co. has been under investigation since a Shanghai TV station reported in July it repackaged and sold old meat. Six employees were arrested in August. OSI Group of Aurora, Illinois, says it's laying off 340 people at the Shanghai unit.

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The Associated Press

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