Pete Selleck, chairman and president of Michelin North America, explains why the group has decided to open its ninth plant in South Carolina and its strategy behind new facilities.» Read More
Dec 12- Bank of America Corp has agreed to pay $131.8 million to settle U.S. Securities and Exchange Commission charges that its Merrill Lynch unit misled investors about mortgage securities it structured and sold.
Dec 12- Southwest Airlines plans to announce a schedule for international service under the Southwest brand next year, Chief Executive Gary Kelly said on Thursday.
Dec 12- A panel of experts advising the U.S. Food and Drug Administration said an oral drug made by Merck& Co was effective in treating grass pollen allergy but expressed concerns about the drug's safety in children. It is sold as Grazax in Europe by Merck's partner ALK Abello.
In Phoenix, where house prices have risen more than 40 percent in less than two years, pending sales fell 32 percent in October, while the number of months of supply is up 111 percent from May. In Sacramento, the October figures are equally grim, with year-on-year supply up 93 percent and sales down 20 percent.
Mexico's Congress on Thursday passed a landmark reform to let private investors into the country's ailing energy sector, the biggest shake up of the state-run industry in 75 years.
Six companies went began trading Thursday, including hotelier Hilton Worldwide Holdings Inc., which raised $2.35 billion, and cafeteria and concession stand operator Aramark Holdings Corp., which raised $725 million. The company, which is based in Norcross, Ga., raised $142.1 million, pricing 10.5 million shares at $13.50 each.
*SPDR Gold Trust holdings drop, investment demand lags. NEW YORK/ LONDON, Dec 12- Gold prices fell two percent on Thursday as upbeat U.S. retail sales data boosted the dollar and stoked expectations that the Federal Reserve could reduce its bond-buying stimulus soon.
Dec 12- Shares of Hilton Worldwide Holdings Inc, the world's largest hotel operator, rose more than 9 percent in afteroon trading during their New York Stock Exchange debut on Thursday. The stock climbed as high as $21.92 after Blackstone Group LP raised more than $2.3 billion in the year's second-biggest IPO.
NEW YORK, Dec 12- Europe, long a scapegoat for weak earnings at U.S. multinational companies, is now looking like a more dependable source of profits, and that could make some stocks that have lagged this year's rally more enticing to investors.
NEW YORK-- The Consumer Product Safety Commission says about 8,900 flat-screen TVs are being recalled because a faulty electronic component that can catch fire. The importer and distributor of the TVs, Coby USA, went out of business, the agency says. _ ABC Warehouse, 510-0070 or http://www.abcwarehouse.com.
OLYMPIA, Wash.-- State officials say that an estimated 25,000 unemployed workers in Washington state will lose their benefits at the end of the month.
BRASILIA, Dec 12- French President François Hollande sought to take advantage of a chill in U.S.- Brazil relations to push a French bid for a multibillion-dollar fighter-jet contract during a visit to Brasilia on Thursday.
The bill, introduced by Dianne Feinstein, a California Democrat; Tom Coburn, an Oklahoma Republican; and eight cosponsors, faces an uphill battle as many lawmakers from agricultural states support the Renewable Fuel Standard that dictates rising volumes of ethanol made from grains, including corn, be blended into motor fuel.
WASHINGTON _ Labor Department releases revised third-quarter productivity data, 8:30 a.m.; Federal Reserve releases industrial production for November, 9:15 a.m..
WASHINGTON, Dec 12- The Democratic-led U.S. Senate approved four of President Barack Obama's nominees on Thursday as an around-the-clock, confirmation merry-go-round entered its second day with Republicans unable to stop it because of a recent rule change.
NEW BRITAIN, Conn.-- Stanley Black& Decker said Thursday that its 2013 and 2014 earnings should fall largely in line with analyst estimates.
NEW YORK, Dec 12- JPMorgan Chase& Co is working with criminal and regulatory authorities on settlements over the bank's relationship with convicted Ponzi schemer Bernard Madoff, one that would involve $2 billion in penalties and a rare criminal action, according to sources familiar with the matter.
After two years of declining sales, J.C. Penney is reducing some high-profile brands introduced by former CEO Ron Johnson and reviving old labels.
Dec 12- Bank of America Corp has agreed to pay $131.8 million to settle U.S. Securities and Exchange Commission charges that its Merrill Lynch unit misled investors about collateralized debt obligations it structured and sold.
WASHINGTON _ Labor Department releases the Producer Price Index for November, 8:30 a.m..