CNBC's Sharon Epperson reports on the cheapest price in the U.S., and how Winter Storm Dion is impact prices in the U.S.» Read More
NEW YORK-- Problems with Apple Inc.' s new maps feature have been well publicized and reported over the past week, but Sterne Agee analyst Shaw Wu says demand for the iPhone 5 remains "robust." Apple released an update to its iPhone and iPad operating system last month that replaced Google Maps with Apple's own map application.
NEW YORK, Oct 2- Oil prices fell in choppy, light trading on Tuesday, pressured by the outlook for weak economic growth and petroleum demand, even as the risk of potential crude supply disruptions limited losses. "Profit taking out of gasoline had a significant influence on market tone today," said Timothy Evans, energy analyst at Citi Futures Perspective in New York.
NEW YORK, Oct 2- U.S. crude futures fell on Tuesday in choppy, light-volume, trading as concerns about slowing economic growth and curbed demand for petroleum weighed on oil prices and countered supportive concerns about the risk of supply disruptions. Falling RBOB gasoline futures settled 1.74 percent lower and provided additional pressure on crude futures.
NEW YORK, Oct 2- Five former employees of Bernard Madoff, charged with helping the conman run a multibillion-dollar Ponzi scheme over several decades, will have their chance to fight the allegations at trial in a year's time.
The first sign of trouble showed up last Wednesday, when crews noticed loose seats on a plane that had flown from Dallas-Fort Worth International Airport to Vail, Colo. The seats were tightened again that day in Boston. The same plane had to make an emergency landing Monday when seats came loose shortly after takeoff on a New York- to- Miami flight.
NEW YORK-- Standard& Poor's Ratings Services upgraded its rating outlook on Group 1 Automotive Inc. Tuesday, saying that the automotive retailer's credit measures have improved since the recession and may make further gains soon. Group 1' s shares rose 93 cents to close at $61.50. The stock has traded between $33.31 and $61.34 in the past 52 weeks.
NEW YORK-- The Kontinental Hockey League says some of its games will be broadcast in the United States on ESPN3 during the NHL lockout. However, ESPN spokesman Josh Krulewitz said "the agreement is not finalized." Four other games were listed through Oct. 9.
NEW YORK, Oct 2- U.S. crude oil inventories rose less than expected last week while oil product stockpiles fell slightly, data from the American Petroleum Institute showed on Tuesday. Crude inventories rose 462,000 barrels in the week to Sept. 28, compared with analysts' expectations for a build of 1.5 million barrels, the API reported.
*MSCI says switch covers $24 million of annual operating income. Oct 2- Vanguard Group, the largest U.S. mutual fund manager, said on Tuesday it was switching 22 of its biggest index funds away from benchmarks provided by MSCI Inc in order to cut costs.
LONDON, Oct 2- Trader Glencore has formally notified the European Commission of its $33 billion plan to take over miner Xstrata, sources familiar with the matter said, after months of preliminary talks designed to pave the way for a swift approval.
NEW YORK-- Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and Nasdaq Stock Market:. MetroPCS Communications Inc., up $2.05 at $13.57. Deutsche Telekom AG, parent company of cellphone carrier T-Mobile USA, said it is in talks to buy smaller rival MetroPCS.
NEW YORK, Oct 2- U.S.-listed shares of foreign companies rose slightly on Tuesday in a relatively quiet session, boosted by ongoing expectations of a bailout for Spain. The BNY Mellon index of leading European ADRs rose 0.6 percent. In Greece, Coca Cola Hellenic rose 2.1 percent to $19.25 per share and the National Bank of Greece gained 5.5 percent to $2.49 a share.
NEW YORK, Oct 2- Xyratex Ltd:.
NEW YORK, Oct 2- Dutch brewer Heineken raised US $3.25 bn from a four-part bond offering in style by establishing a new record for the lowest coupon paid by a Triple B issuer for three- and five-year bonds. The company was in the market to take out a EUR2.5bn bridge loan for its acquisition of Asia Pacific Breweries.
NEW YORK-- Drug and medical device maker Covidien PLC said Tuesday it completed its $100 million purchase of CNS Therapeutics. Covidien announced it was buying CNS on Sept. 24. CNS is now part of Covidien's Mallinckrodt pharmaceuticals business.
*Manhattan office vacancy rate ticks up-Cushman& Wakefield. NEW YORK, Oct 2- The Manhattan office vacancy rate ticked up in the third quarter and average rent was essentially flat, as demand for office space remained soft, real estate services company Cushman& Wakefield said on Tuesday.
NEW YORK, Oct 2- The chairman of the U.S. board that sets accounting standards for state and local governments will retire next June, a year ahead of the end of his term and as controversial new standards for pensions start kicking in.
WASHINGTON-- The U.S. economy is looking more resilient, thanks in part to encouraging signs for the two most expensive purchases most Americans make: cars and homes. Cheap loans and a bounty of fuel-efficient models enticed people to buy new vehicles at a brisk pace last month.
NEW YORK-- The price of oil fell Tuesday as investors weighed positive U.S. economic news against ongoing concerns about Europe. On the New York Mercantile Exchange:. Benchmark crude fell 59 cents to finish at $91.89 per barrel.
The country's largest fertilizer company, Mosaic, said weak demand from China and India have hurt its profits. Mosaic, Dupont and stocks of other companies in the materials industry fell. Dupont led the Dow lower, sinking 86 cents to $49.50.