With the U.K. set to leave the EU in the next few years, some businesses may wish to move elsewhere. But can they bet on a warm welcome? » Read More
CAREER: Corbat held several roles at Salomon Brothers, a company that eventually combined with Citi. He also ran Citi Holdings, a portfolio of businesses and assets that Citi sold to raise cash and simplify its corporate structure following the financial crisis.
AMSTERDAM-- Thieves broke into a Rotterdam museum on Tuesday and walked off with works from the likes of Picasso, Monet, Gauguin and Matisse potentially worth hundreds of millions. "Those thieves got one hell of a haul," said Chris Marinello, who directs the Art Loss Register.
CITY OF LOVE: The transformation of Batumi, an ancient city of 180,000 near the Turkish border, is a vivid example of Georgia's drive to capitalize on its tourism potential, boosting the economy of an ex-Soviet nation where roughly one person in five lives in poverty.
HAMILTON, Bermuda-- Hurricane Rafael is expected to unleash heavy winds and rain as it passes east of Bermuda late Tuesday en route to open sea, where it is expected to lose strength. It was located 225 miles south of Bermuda late Tuesday morning, moving north-northeast at 24 mph.
Parliament must approve the measures within the next few weeks so that Greece can keep receiving bailout money it desperately needs to stay solvent.
NEW YORK-- EBay Inc. is expected to post profit and revenue growth in the third quarter, helped by PayPal as well as its e-commerce platform, when it reports its financial results after the market closes on Wednesday.
BATESVILLE, Ind.-- Hillenbrand Inc. on Tuesday said it will acquire Germany's Coperion Capital GmbH for 232 million euros, or about $300 million, expanding Hillenbrand's industrial products operations as the company diversifies beyond its traditional business making burial caskets.
GLASS HALF FULL: Investor optimism in Germany rose in October, sending an upbeat signal about Europe's largest economy. ECONOMIC ENGINE: Germany is Europe's biggest economy and its modest recent growth has kept the eurozone as a whole out of recession.
The EU's anti-fraud office sent a report to the Commission after it investigated a complaint by Swedish Match, a tobacco producer. The Commission said that a Maltese businessman had tried to use his alleged contacts with Dalli to get financial benefit from Swedish Match in return for pressing Dalli to influence future tobacco laws on snus.
WASHINGTON-- The outlook for the U.S. economy brightened a little Tuesday after reports that consumer prices stayed tame and homebuilder confidence rose to the highest level in six years. It will be front and center Tuesday night when President Barack Obama and GOP challenger Mitt Romney meet at New York's Hofstra University for the second of three debates.
BRUSSELS-- EU Health Commissioner John Dalli has resigned over corruption allegations involving tobacco legislation, but denies wrongdoing. The EU Commission said in a statement Dalli resigned `'with immediate effect. " Snus sales are banned in the European Union, except in Sweden, which insisted on an exemption when it joined the EU.
SALES JUMP: Powered by demand for its cancer drugs, Swiss drugmaker Roche on Tuesday reported a 7 percent increase in sales of its pharmaceutical products for the first nine months of 2012..
PARIS-- The pace at which countries like Greece and Spain cut their deficits with austerity measures must depend on their economic conditions, International Monetary Fund Managing Director Christine Lagarde said Tuesday.
Inflation is low, earnings are high, investors are happy. Results at Mattel, Goldman Sachs, and Johnson& Johnson were all above expectations. Also Tuesday, the Labor Department said consumer prices rose just 0.1 percent last month, not counting food and energy costs.
The Treasury Department says total foreign holdings rose to a record $5.43 trillion in August. And Japan increased its holdings 0.5 percent to $1.12 billion. Japan now trails China's holdings by just $32.1 billion.
NEW YORK-- The Coca-Cola Co. has a formula for growth in the volatile economic climate: sell more of its drinks in emerging markets and evolve its stable of products at home, where concerns over sugary drinks are intensifying.
RICHMOND, Va.-- Cigarette maker Philip Morris International Inc., which sells Marlboro and other brands abroad, expects a slowdown in the third quarter as it laps large cigarette volume gains last year. Philip Morris International has compensated for consumers buying fewer, or cheaper, cigarettes _ and for the weak economy _ by cutting costs and raising prices.
MOSCOW-- President Vladimir Putin has urged Russia's intelligence agencies, police and military to clamp down on terrorism to prevent violence at the 2014 Winter Games in Sochi and other international events in Russia.
LONDON-- Judges are choosing the winner of Britain's most prestigious literary trophy from a shortlist that includes novels set in the court of King Henry VIII and the opium dens of Mumbai. Mantel would be the first British author to win the Booker twice, joining double winners Peter Carey of Australia and J.M. Coetzee of South Africa.
EL DORADO, Ark.-- Murphy Oil is splitting in two in order to better focus on the separate tasks of exploration and production, and the sale of gasoline and other goods through its retail locations. Murphy Oil will continue to explore for and produce oil in the U.S., Canada and Malaysia.