Business News Headlines

Fri, Oct 24 2014

Look to energy names for global demand clues

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NEW YORK - Slumping energy shares drove the recent U.S. stock market selloff more than any other major group, so investors are turning to next week's slate of earnings to see if the sector can pull itself out of the pit.

24 Oct 2014

Fannie Mae settles shareholder lawsuit for $170 million

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NEW YORK - Fannie Mae has reached a $170 million settlement of a lawsuit accusing it of misleading shareholders about its finances, risk management and mortgage exposure before it was seized by the U.S. government during the 2008 financial crisis.

Exclusive: Ford to overhaul Lincoln brand, this time with big bucks

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DETROIT - Ford Motor Co's new chief executive, Mark Fields, is giving the automaker's long-moribund Lincoln brand what his predecessor Alan Mulally never could: a little love and a lot of cash.

24 Oct 2014

China's auto market growth may halve to 7 percent this year: industry body head

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SHANGHAI - Growth in China's auto market, the world's biggest, will halve to 7 percent this year weighed down by a slowing economy, the head of an industry body said on Saturday.

2:31am EDT

U.S. appeals court rules for GM over Spyker's Saab sale

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- General Motors Co persuaded a federal appeals court to uphold the dismissal of a $3 billion lawsuit in which Spyker NV accused it of derailing a plan to sell the Swedish automaker Saab to a Chinese company.

24 Oct 2014

India's finance minister favors interest rate cut: paper

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NEW DELHI - India's Finance Minister Arun Jaitley favors a cut in interest rates to trigger demand in the construction sector, a newspaper report said on Saturday, but the central bank has signal it will not ease policy until it is confident of lower inflation.

2:43am EDT

Ex-Bank of New York Mellon employee pleads guilty to insider trading

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NEW YORK - A former Bank of New York Mellon Corp employee on Friday pleaded guilty to insider trading based on tips from a former Merck & Co Inc employee about potential pharmaceutical mergers.

U.S. new home sales at six-year high; recovery still fragile

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WASHINGTON - Sales of new U.S. single-family homes rose to a six-year high in September, but a sharp downward revision to August's sales pace indicated the housing recovery remains tentative.

24 Oct 2014

Port squeeze threatens US retailers' holiday stocking plans

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CHICAGO/LOS ANGELES - A shortage of transportation equipment and possible labor disruptions at ‚Äčthe Los Angeles/Long Beach port complex, ‚Äčthe nation's busiest, is delaying shipping containers for up to three weeks, threatening timely delivery to retailers for the holiday season.

24 Oct 2014

Ford's lower profit beats estimates; sales down on F-150 launch

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DETROIT - Ford Motor Co on Friday reported a 34 percent drop in third-quarter profit, and revenue fell due to the cost of introducing the F-150 pickup truck. | Video

24 Oct 2014
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Key retirements mean a changing of the guard next year in U.S. Congress

Regardless what voters decide in the November elections, there will be a major changing of the guard next year in the U.S. Congress as result of a number of key retirements.