Coal-firing electricity plants are closing all over the US, and jobs are going with them. Can other energy sources make up for the losses?» Read More
BOSTON-- Vanguard Group is trying to bolster its appeal to cost-conscious investors by reducing a key expense of investing in low-cost index mutual funds: fees paid to firms that license benchmarks covering segments of the stock market that the funds track.
Oct 2- Vanguard Group, the largest U.S. mutual fund manager, said it was switching 22 of its biggest index funds away from benchmarks provided by MSCI Inc in order to cut costs. Shares of MSCI plunged 16 percent on the news that one of its biggest index licensing customers had defected. The shares hit $30.15 in early trading on the New York Stock Exchange on Tuesday.
HOUSTON-- The electric power producer Dynegy Inc. has emerged from Chapter 11 bankruptcy protection. Dynegy filed for Chapter 11 in July after years of falling electricity prices and debt that surpassed $5 billion last year. As part of the restructuring, Dynegy Holdings and Dynegy Inc. were combined on Sept. 30.
Oct 2- LPL Financial LLC, the largest U.S. independent broker-dealer by revenue, said on Tuesday it landed San Diego- based independent advisory firm Washington Wealth Management LLC with $750 million in client assets.
The decision conflicts with rulings by several other federal circuits, possibly setting the stage for a Supreme Court challenge.
*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.
LIONVILLE, Pa.-- West Pharmaceutical Services Inc. said Monday that its board declared a quarterly dividend of 19 cents per share, up 5.6 percent from its prior payout of 18 cents. The dividend is payable Nov. 7 to shareholders of record Oct 24. Shares of West Pharmaceutical ended trading up $1.03 at $54.10.
--U.S.-based Tenet Healthcare Corp. is proposing to issue $500 million senior secured notes due 2020 and $300 million of unsecured notes due 2020. The company will use the proceeds to repay existing debt and for other purposes including acquisitions.
With Pocono officially back on the IndyCar schedule after a 23- year absence, Carpenter wanted to pick up as many tips as possible from someone with experience at "The Tricky Triangle." The return to Pocono is being celebrated as a nod to IndyCar's history and tradition.
NEW YORK-- Shares of Healthcare Services Group Inc. rose Monday after a UBS analyst said the company, which provides housekeeping and food services to hospitals and nursing homes, should be able to sustain its strong growth. THE SPARK: Analyst A.J. Rice began covering Healthcare Services with a "Buy" rating and a price target of $27 per share.
WASHINGTON-- The Washington Post Co. is getting into the health care business with the purchase of a majority stake in Celtic Healthcare Inc., a provider of home health care and hospice services. Mars, Pa.- based Celtic provides home health care and hospice services in Pennsylvania and Maryland.
Oct 1- Washington Post Co said it would acquire a majority stake in privately held Celtic Healthcare Inc, branching even further away from its newspaper roots.
SAN FRANCISCO-- Prescription drug distributor McKesson Corp. said Monday that it agreed to buy Med3000, a health care management and technology service company. McKesson said the deal will expand its revenue management division. Shares of McKesson rose 34 cents to $86.37 in midday trading.
PITTSBURGH-- Bass fishing, gas drilling and downtown Pittsburgh collided at a professional fishing tournament last week, and the unlikely partnership prompted cheers and concerns from anglers, environmentalists and the general public. One of the fishermen at the event said that even having a tournament in Pittsburgh is a sign of progress.
COLUMBUS, Ga.-- Carmike Cinemas Inc. said Monday that it has bought 16 theaters for $19 million in cash, part of Carmike's push to expand through acquisitions. The theater chain bought the theaters, which have 251 screens, from Rave Reviews Cinemas LLC, which is owned by investment firm BV Investment Partners.
ALBANY, N.Y.-- New York regulators expect to reopen their rulemaking process for natural gas drilling using hydraulic fracturing, casting doubt on whether a 4- year-old moratorium on development will be lifted before next year.
Ikea believes the shift to the longer-lasting bulbs will help set an environmentally friendly example in the industry and also save the company about $10 million to $20 million a year, or 10 percent, in lighting costs at its 300 stores around the globe, said Steve Howard, the company's chief sustainability officer.
Oct 1- The Washington Post Co said it would acquire a majority stake in privately held Celtic Healthcare Inc, marking the education and media company's entry into the healthcare sector.
WASHINGTON-- Chairman Ben Bernanke offered a wide-ranging defense Monday of the Federal Reserve's aggressive policies to stimulate the still-weak economy. The Fed needs to drive down long-term borrowing rates because the economy isn't growing fast enough to reduce high unemployment, Bernanke said in a speech to the Economic Club of Indiana.
Americans paused again Tuesday to mark the 11th anniversary of the Sept. 11, 2001, terror attacks with familiar ceremony, but also a sense that it's time to move forward after a decade of remembrance.