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International stocks gain...Weekly jobless, durable good and mortgage rates due...BP must stick to deal

By The Associated Press | Posted - Sep. 25, 2014 at 4:40 a.m.



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SEOUL, South Korea (AP) — International stock markets were mostly higher today after a surge in new home sales in the U.S. bolstered sentiment. But gains were limited by worries about Europe's stagnant economy and violence in Iraq and Syria. Futures point to a lukewarm opening on Wall Street. Benchmark U.S. crude oil slipped but remains above $92.50 a barrel. The dollar gained against the euro and the yen.

WASHINGTON (AP) — Upcoming economic reports today include the Labor Department's weekly jobless claims, the Commerce Department's durable goods and Freddie Mac, the mortgage company, offers is weekly mortgage rates. Swedish fashion retailer H&M today is reporting a near 20 percent increase in third-quarter net profit.

NEW ORLEANS (AP) — There'll be no getting off the hook for BP. A federal judge has ruled that BP must stand by the agreement made with the companies it compensated for losses after the 2010 Gulf oil spill despite the oil giant saying some claims were overestimated. BP argued that a flawed funding formula enabled nearly 800 businesses to overestimate their spill-related claims. The oil company claimed it should get at least $185 million back.

SAN FRANCISCO (AP) — Apple's new iPhones have run into some glitches as users complained that a new software update blocked their calls, while a widely circulated video showed the larger of the two new models is vulnerable to bending. Apple has pulled the update sent earlier yesterday and offered users a way to manually reverse it. Apple didn't comment on reports of bending.

WASHINGTON (AP) — The Federal Aviation Administration is expected to announce today that it is granting permits to seven movie and television production companies to fly drones. Attorneys and a company official familiar with the decision say the permits are an important step toward relaxation of the FAA ban on use of unmanned aircraft by commercial operators.

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The Associated Press

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