The "Worldwide Exchange" crew discusses the morning's top attention-grabbing headlines, including a look at three Chinese tech companies that have global ambitions.» Read More
NEW YORK-- Nobody was expecting this round of corporate financial reports to be great. But underwhelming results _ particularly revenue, which offers a read on the economy _ are still rattling investors.
Oct 23- DuPont slashed its earnings forecast, reported a lower-than-expected quarterly profit and announced 1,500 job cuts on Tuesday, signs that demand for the chemical company's lucrative paint and solar products is slipping around the world. Shares of DuPont, a component of the Dow Jones industrial average, fell more than 9 percent in midday trading.
*Sluggish demand in China, more stimulus unlikely now. LONDON, Oct 23- Copper slid to a six-week low on Tuesday, giving up more gains from its September rally, as a strong dollar, renewed worries over Spain's sovereign debt and a lack of robust demand from China knocked investor risk appetite.
WASHINGTON, Oct 23- Most Americans have scant understanding about their water supply, but they are concerned about it, and believe recycling water gives the United States an advantage over other countries, a survey said on Tuesday.
Cogo Group Inc. said on Tuesday that it has a deal with its chairman and CEO, Jeffrey Kang, to buy some of its subsidiaries for $78 million. Cogo connects semiconductor companies to industrial and technology customers in China.
CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.
Benchmark oil dropped $1.98, or 2.3 percent, to finish at $86.67 per barrel in New York. The national average for a gallon of regular gasoline dropped 2 cents overnight to $3.65. That's why gasoline futures have plunged 12 percent in less than two weeks, including a 4.3- cent drop Tuesday to $2.61 per gallon.
A four-year boom in U.S. oil production is accelerating so fast it could help soon make the U.S. the world's top producer of oil and liquid hydrocarbons. The U.S. passed Russia this year, and is now second behind Saudi Arabia. Source: U.S. Energy Information Administration.
Both President Barack Obama and Republican Mitt Romney benefit from current campaign finance rules. Those groups can raise unlimited cash to help them win the White House this November.
British drug giant AstraZeneca PLC and a small U.S. drug developer, Ironwood Pharmaceuticals Inc., said Tuesday that they are teaming up to develop and then market Ironwood's new drug for irritable bowel syndrome in China.
Benchmark oil is down $2.46, or 2.8 percent, to $86.19 in New York. 3 M Co., with products ranging from Scotch tape to traffic sign coatings, and Posco, the big Korean steel maker, were among the major companies that cut forecasts because of weak economic growth in China and Europe. Brent crude fell $1.87, or 1.7 percent, to $107.57 in London.
BEIJING-- An array of activists, academics and dissidents are questioning the authorities' purge of Bo Xilai, demanding that China's legislature follow the rule of law and allow the disgraced leader to defend himself before lawmakers.
NEW YORK-- Bob Schieffer took a light hand Monday as moderator of the final presidential debate, ending with advice from his mother: "Go vote.
Does your portfolio deserve a little more luxury? Liz Dunn, Macquarie Capital analyst, and Edward Yruma, KeyBanc Capital Markets analyst, weigh in with the play on Coach.
LIANGJIAHE, China-- The next leader of China spent much of his youth living in a dug-out cave. Xi Jingping's seven years in this remote northern community meant toiling alongside rural villagers by day and sleeping on bricks by night, in stark contrast to his pampered early years in Beijing.
3 M, which makes everything from Scotch tape to coatings for LCD screens and is an economic bellwether, reduced its profit expectations for this year because of "current economic realities." Xerox plunged 8 percent, or 56 cents, to $6.47.
CHARLESTON, W.Va.-- West Virginia agriculture officials are hosting a delegation from China. The West Virginia Department of Agriculture is teaming up with the state's Nursery and Landscape Association to host the delegation. A reception was held Monday night in Charleston following a tour of a nursery operation in Mason County.
SLUGGISH ECONOMY: 3 M cut its profit projections for this year because of weak economic growth, including in China and Europe. 3 M said it will lay out 2013 expectations in December. WHY IT MATTERS: 3 M makes everything from Post-it notes and Scotch tape to roofing granules, coatings for LCD screens, and traffic sign coatings.
NEW YORK-- Coach Inc. reported a 3 percent increase in first-quarter profits as the luxury accessories retailer's results were powered by strong sales in the U.S. and overseas, particularly China. The New York- based retailer also said Tuesday that its board authorized the repurchase of up to $1.5 billion of its outstanding stock by June 30, 2015.
Call it two-for-two. For the second time in as many months, a London-listed luxury company has warned on its profits, sending a shock wave through the luxury goods sector.