The world will see huge shifts on both the usage and supply sides of the energy equation, according to BP's annual global energy forecast.» Read More
Walmart, the world’s largest retailer by sales, is being investigated in India over accusations that it secretly invested in supermarkets, flouting a ban on foreign direct investment in the sector. The FT reports.
CHICAGO-- Shares of USG Corp. rose Thursday after the building products maker said its third-quarter loss shrank. In the three months ended Sept. 30, the Chicago company reported a loss of $29 million, or 28 cents per share.
TROY, Mich.-- Chemical giant DuPont Co. is opening an innovation center in suburban Detroit that's aimed at speeding the introduction of new products for the automotive industry. It is DuPont's eighth-such center and is located at its Automotive Development Center in Troy.
LOS ANGELES-- The Beverly Hilton's International Ballroom will soon be filled with flowers, chiffon, fine china and crystal stemware for a starry black-tie ball costing couples as much as $20,000 to attend.
NEW DELHI-- India's top court lifted a ban on tourism in tiger reserves across the country but asked local governments to regulate visitors. The Supreme Court had ordered a complete ban on such tourism in July while the government formulated new guidelines.
India’s growing middle class and the rich have plenty of places to escape the chaos and crowding of India’s most important business center. But a vast majority of Mumbai residents have access to only tiny scraps of green or a handful of large open spaces, most of them in the historic downtown area, that are swarming with crowds. The New York Times reports.
District Judge Jed Rakoff, who this year presided over the trial in which Rajat Gupta was convicted. Gupta, a 63- year-old former board member for Goldman and Procter& Gamble Co., faces sentencing Oct. 24.
Chanda Kochhar, ICICI Bank CEO, tells CNBC's Maria Bartiromo that lending in India is strong compared to the rest of the world.
LONDON-- The number of people who caught tuberculosis last year inched downward according to an estimate by the World Health Organization, but the agency warned that drug-resistant strains are still spreading.
MILWAUKEE-- Water-heater maker A.O. Smith's net income dropped 80 percent from last year's third quarter, when it gained from an asset sale. A.O. Smith raised its full-year earnings forecast, saying it expects its business to continue to perform well through the end of the year.
NEW YORK-- Fertilizer maker Potash Corp. of Saskatchewan Inc. said Wednesday that its full-year earnings will come in below the low end of its prior forecast mostly because of weaker-than-expected potash sales volumes due to contract delays. The Canadian company previously predicted earnings in a range of $2.80 to $3.20 per share.
BANGKOK-- The two Asian nations with the region's best performing stock markets in the past year are unlikely havens for investors: Thailand and the Philippines. The PSE benchmark in the Philippines has soared 29 percent in the last 12 months and Thailand's SET index is up a whopping 33 percent.
NEW DELHI-- India and Australia agreed Wednesday to begin negotiations on civil nuclear energy cooperation that would eventually allow the export of Australian uranium to the energy-starved South Asian nation.
NEW DELHI-- The first woman to lead a Formula One team has another reason to look forward to the Indian Grand Prix next week _ it's in her home country. The 41- year-old Monisha Kaltenborn was promoted from Sauber's chief executive to its team principal last week. Her main focus is ensuring the Switzerland- based team improves on its four podium finishes this season.
Vikram Pandit, who steered Citigroup through the 2008 financial crisis and the choppy years that followed, abruptly left the bank on Tuesday, stepping down as CEO and as a director. The move shocked Wall Street, and Citigroup offered no explanation.
PROFIT POPS: The Coca-Cola Co. says its profit rose 4 percent in the third quarter, although revenue came in shy of Wall Street expectations. FOREX FALLS FLAT: The company's revenue rose 1 percent for the period as it was hit by unfavorable currency exchange rates.
CAREER: Pandit joined Morgan Stanley as an associate in 1983. Seven years later, he was named head of Morgan Stanley's U.S. stock business. In 2005 he left Morgan Stanley and a year later helped found a hedge fund, Old Lane. Citigroup bought the fund in April 2007 and fast-tracked him to replace Charles Prince as CEO in December of that year.
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.
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.
NEW DELHI-- Delegates from nearly 200 countries were working Tuesday to implement an agreement on protecting Earth's ecosystems at a biodiversity conference in southern India.