New York


  • Iron ore rally lifts Australia shares to 14-mth high Tuesday, 9 Oct 2012 | 1:49 AM ET

    MELBOURNE, Oct 9- Australian shares climbed 0.5 percent to a fresh 14- month high on Tuesday, with miners boosted by a jump in iron ore prices that helped offset concerns about global economic growth. No. 3 iron ore miner Fortescue Metals Group. rose 3.6 percent and Northern Iron.

  • HONG KONG, Oct 9- Hong Kong- based Ardon Maroon Fund Management, run by former Wall Street bank executives, has launched an Asia- focused hedge fund with seed capital from a European family office, a company document showed, aiming to profit from events such as mergers and restructurings.

  • *Lawmakers call for stronger FDA role. *Supreme Court may have to settle legal questions. Democratic lawmakers said the new crisis showed it was time for Congress to strengthen the FDA's hand in overseeing this side of the drug industry.

  • TEXT-S&P revises credit estimate guidelines Tuesday, 9 Oct 2012 | 12:58 AM ET

    Oct. 9- Standard& Poor's Ratings Services said in an article just published on RatingsDirect that it is reducing the required timeframe for when it provides a credit estimate after a transaction closes in the Americas and Asia-Pacific regions.

  • MetLife starting new asset management business Tuesday, 9 Oct 2012 | 12:57 AM ET

    NEW YORK-- MetLife rolled out an asset management business focused on real estate and private-placement debt, hoping to draw yield-starved institutional investors to areas where it already has considerable experience.

  • Oil price soars on supply jitters Tuesday, 9 Oct 2012 | 12:48 AM ET

    NEW YORK-- The price of oil rose more than 3 percent Tuesday on concerns about supplies from the Middle East and the North Sea. Benchmark crude gained $3.06, or 3.4 percent, to finish at $92.39 a barrel in New York. There is also concern that tensions between Turkey and Syria could escalate and disrupt supplies from the Middle East.

  • Fears about global economy push dollar higher Tuesday, 9 Oct 2012 | 12:35 AM ET

    In its latest forecast, the International Monetary Fund says that the global economy is weakening and will grow more slowly in the next year. The euro fell to $1.2878 in afternoon trading from $1.2967 late Monday. The dollar rose to 0.9395 Swiss franc from 0.9330 Swiss franc and to 97.84 Canadian cents from 97.66 Canadian cents.

  • NYSE looking into share moves in several U.S. stocks Tuesday, 9 Oct 2012 | 12:35 AM ET

    NEW YORK, Oct 9- The New York Stock Exchange said it was looking into why at least 10 U.S.-traded securities saw their shares jump or dive suddenly without any news on Tuesday, only to resume their original trading pattern.

  • RadioShack shares soar on "Buy" rating Tuesday, 9 Oct 2012 | 12:33 AM ET

    NEW YORK-- Shares of RadioShack Corp. jumped nearly 9 percent Tuesday after a Wall Street analyst boosted her rating for the electronics retailer's stock to "Buy," saying that most of the risks surrounding the shares have already been factored into their price.

  • CINCINNATI, Oct 9- Procter& Gamble Co's CEO stood behind the company's plan for increasing profit and sales at a drama-free annual meeting notable for the absence of William Ackman, the activist investor who has pushed hard for change in recent months at the world's largest maker of household products.

  • U.S. ports are expected to handle 1.45 million 20- foot Equivalent Units in October, up 9.9 percent from the year-earlier period, according to the monthly Global Port Tracker report by the National Retail Federation and Hackett Associates.

  • U.S. crude up $3 on Middle East geopolitical tensions Tuesday, 9 Oct 2012 | 12:24 AM ET

    November crude was up $2.90 at $92.23 a barrel at 12:20 p.m. EDT, having swung from $89.29 to $92.42.

  • Questcor Pharma rises following upgrade Tuesday, 9 Oct 2012 | 12:23 AM ET

    NEW YORK-- Shares of Questcor Pharmaceuticals Inc., which had lost 60 percent of their value in the last four weeks, recovered some lost ground Tuesday after a Jefferies& Co. analyst upgraded the stock. Amin raised his rating to "Buy" from "Hold" and increased his price target to $28 per share from $24.

  • Wal-Mart tests same-day delivery for holidays Tuesday, 9 Oct 2012 | 12:21 AM ET

    NEW YORK-- Wal-Mart is testing a same-day delivery service in select markets for customers who buy popular items online during the holiday shopping season. Wal-Mart's tests started this month in northern Virginia and Philadelphia. Wal-Mart plans to test the service in San Francisco and San Jose, Calif., later this month or in early November.

  • TREASURIES-Bonds rise before three-year note auction Tuesday, 9 Oct 2012 | 12:08 AM ET

    *Growth, Greece worries stoke safety bids for bonds. Treasuries prices rose on Tuesday in advance of a three-year debt sale as safe-haven bids for bonds emerged on anxiety about weak global growth and Greece's ability to meet the terms of a bailout.

  • Sotheby's autumn HK sales drop as China economy slows Tuesday, 9 Oct 2012 | 12:07 AM ET

    HONG KONG, Oct 9- Sotheby's sold HK $2 billion worth of Asian and Chinese artwork and luxury goods in its autumn sales in Hong Kong on Tuesday, a 37 percent decline from the same period last year as the market consolidates on a weaker China economy. The tally was also some 18 percent less than the $316 million Sotheby's sold in its Hong Kong spring sales.

  • Bahrain's Alba settles bribery suit with Alcoa Tuesday, 9 Oct 2012 | 12:06 AM ET

    DUBAI, Oct 9- Aluminum Bahrain and U.S. aluminum maker Alcoa said on Tuesday they had settled the Bahraini firm's racketeering and fraud suit against Alcoa in return for $85 million in cash plus long-term raw material supply contracts.

  • Analyst downgrades Johnson & Johnson to "sell" Tuesday, 9 Oct 2012 | 12:00 AM ET

    NEW YORK-- Goldman Sachs downgraded Johnson& Johnson, saying Tuesday that the current share price has captured all the potential for improved growth. However, Goldman analyst Jami Rubin wrote that Johnson& Johnson comes up short in the two areas she sees as likely to boost stock prices, new prescription drugs and capital allocation.

  • Asia stocks up despite global growth warnings Monday, 8 Oct 2012 | 10:54 PM ET

    Stock markets gains in Asia came despite the International Monetary Fund cutting its forecast for global economic growth, just a day after the World Bank issued a warning about a slackening expansion in Asia. "Asia has grown nearly 32 in the four years since Lehman Brothers collapsed," analysts at DBS Bank Ltd. in Singapore said in a market commentary. "

  • NASHVILLE, Tenn., Oct 8- About 13,000 people in 23 U.S. states may have received steroid injections linked to a rare fungal meningitis outbreak that has killed eight people, but far fewer are likely to contract the disease, the Centers for Disease Control said on Monday.