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National business headlines
Government's work stacking up a week into shutdown
Across America the government's work is piling up, and it's not just paperwork. It's old tires and red Solo cups littering a stretch of river in Nebraska. Food poisoning microbes awaiting analysis in Atlanta. The charred wreckage of a plane in California, preserved in case safety investigators return. And it's ...
Oil falls below $103 as US debt deadline nears
The price of oil fell below $103 a barrel Monday as a partial U.S. government shutdown entered a second week and crude production in the Gulf of Mexico got back on track after a storm system passed through. By early afternoon in Europe, benchmark crude for November delivery was down ...
China reassures neighbors over economy, reforms
Chinese President Xi Jinping sought Monday to reassure Asian business and political leaders that his country only aspires to peace and that he is confident its economic growth will remain robust despite a recent slowdown. China's growth and other indicators are within reasonable expectations, Xi told a business conference on ...
Shutdown spawns vacuum in farm market information
When Tim Peterson finished planting his 900 acres of winter wheat last week, the usually market-savvy Kansas farmer unexpectedly found himself struggling to make critical marketing decisions without being able to access to vital agricultural reports, casualties of the federal government shutdown. "We have no clue what is going on ...
Futures fall sharply over stalemate in Washington
Stock futures are falling sharply as the U.S. government heads into the second week of a partial shutdown with no signs of a budget agreement in sight. Dow Jones industrial futures are down 125 points to 14,873. S&P futures have lost 15.3 points to 1,669.50. Nasdaq futures are down 25.5 ...
JAL makes first purchase from Airbus, not Boeing
Airbus secured its first-ever order from Japan Airlines on Monday, in a deal that undermines Boeing's long-held dominance of Japan's aviation market. Japan Airlines is to buy 31 A350 planes from the European aircraft manufacturer. The purchase has a list value of 950 billion yen ($9.5 billion) and marks a ...
Greece expects economy to grow, finally
Greece expects its economy to grow next year — at last. In its draft budget presented Monday, the government forecast the economy would grow 0.6 percent, the first annual improvement after a brutal six years of contraction. This year it is predicted to shrink 4 percent, leaving the economy 25 ...
Dutch central bank president: recession over
The president of the Netherlands' central bank predicts that the country's long recession has ended. In his twice-yearly update on the stability of the Dutch banking system, Klaas Knot said that it was "almost impossible" that the year-long recession hasn't ended in the third quarter. He pointed to growth in ...
Darling buying Vion Holding unit for $2.17B
Food recycling company Darling International Inc. is buying a unit of Vion Holding N.V. for about 1.6 billion euros ($2.17 billion). The Irving, Texas, company said Monday that the acquisition will help to diversify its product line. Vion Ingredients, based in the Netherlands, produces specialty ingredients from animal origin for ...
US budget showdown weighs hard on markets
Stocks took a pounding Monday as the partial shutdown of the U.S. government entered a seventh day and lawmakers appeared to be making little headway in raising the country's debt ceiling. The U.S. has to raise its debt ceiling by Oct. 17. If it doesn't, the world's largest economy faces ...
Kerry assures CEOs on US role in Asia-Pacific
Filling in for an absent U.S. President Barack Obama, Secretary of State John Kerry on Monday sought to assure Asia-Pacific business leaders that nothing will shake America's commitment to the region and that the current government shutdown in Washington will soon be over and forgotten. In an address to executives ...
Inquiry: Cypriot crisis is ex-president's fault
An independent inquiry has concluded that Cyprus' former president is primarily responsible for the financial crisis that brought the country to near bankruptcy and resulted in a painful financial rescue. The three-member panel said in its non-binding report Monday that Dimitris Christofias pursued "reckless" economic policies, ignored warnings over spending ...
Bali on a high amid summit drawing world leaders
A decade ago, Bali's famed white sand beaches and popular shopping areas were deserted as visitors scared off by terrorism shunned the "island of the gods." The dark cloud of the suicide bombings that killed 202 mostly foreign tourists in 2002 lingered for years, decimating one of Asia's top tourist ...
NY probes rights sold to 'World Trade Center'
New York is expanding its probe nationwide into the 1980s sale of the rights to the name "World Trade Center" to a nonprofit for $10, resulting in millions of dollars in fees for use of the name in 28 states, according to an official familiar with the investigation. The official ...
With Obama out, other leaders take APEC main stage
Japanese Prime Minister Shinzo Abe and other Asia-Pacific leaders took center stage Monday at a regional summit after President Barack Obama was a no-show due to the U.S. government shutdown. Leaders of the Asia-Pacific Economic Cooperation forum, meeting amid tight security on this tropical island in eastern Indonesia, urged faster ...
Families hoard cash 5 yrs after crisis
They speak different languages, live in countries rich and poor, face horrible job markets and healthy ones. When it comes to money, though, they act as one: They're holding tight to their cash, driven more by a fear of losing what they have than a desire to add to it. ...
NYC fraud trial to begin for 5 ex-Madoff employees
The longtime secretary of imprisoned financier Bernard Madoff and four other back-office subordinates of the Ponzi king go to trial Tuesday as the government for the first time shows a jury what it has collected in its five-year probe of one of history's biggest frauds. The trial in federal court ...
Twitter tunes in to TV partnerships ahead of IPO
People don't just watch TV anymore; they talk about it on Twitter. From the comfort of couches, they share reactions to touchdowns and nail-biting season finales —and advertisers and networks are taking note. Examples of Twitter's influence abound. The recent finale of "Breaking Bad" generated a record 1.24 million tweets. ...
Boehner to Obama: No debt hike without concessions
The United States moved closer to the possibility of the first-ever default on the government's debt Sunday as Speaker John Boehner adamantly ruled out a House vote on a straightforward bill to boost the borrowing authority without concessions from President Barack Obama. With no resolution in sight, Treasury Secretary Jack ...
'Gravity' soars to top of weekend box office
The Sandra Bullock-George Clooney space drama "Gravity" rocketed to the top of the box office and into industry record books during its opening weekend. The Warner Bros. adventure debuted with $55.55 million in North American ticket sales, according to studio estimates Sunday — the biggest October opening ever and the ...
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