WASHINGTON— For 6½ years, the Federal Reserve has held its key interest rate near zero, and for nearly that long the financial world has speculated about when the Fed will start raising it. Don't look for it soon. Yet at a news conference later, Chair Janet Yellen stressed that while the Fed had removed "patient" to describe its approach to raising rates, it still...» Read More
NEW YORK, Oct 11- U.S. seasonally adjusted commercial paper outstanding fell $10.2 billion in the week ended Oct. 10, according to data issued by the Federal Reserve on Thursday.
Oshkosh needs proactive shareholders to bring a proactive management team together to weather a volatile economy. " Oshkosh said its board would advise shareholders of its position on the offer within 10 business days, and suggested that shareholders not act on the offer until the board has reviewed it.
--We are lowering our ratings on Genworth Financial Inc., Genworth Life Insurance Co., and core U.S. life operations. Rating Action On Oct. 11, 2012, Standard& Poor's Ratings Services lowered its counterparty credit rating on Genworth Financial Inc. to' BBB-/A-3' from' BBB/A-2'.
*Cooper Tire shares jump as much as 11 pct. is in the process of acquiring a controlling stake in U.S.-based Cooper Tire& Rubber Co in a deal valued at between $600 million and $800 million, India's Economic Times reported. Shares of Cooper Tire jumped as much as 11 percent to $20.76, valuing the company at $1.3 b illion.
*To offer medicare prescription drug, health plans at select Walgreens in. *To collaborate with Walgreens during upcoming medicare annual election period. in Florida and Puerto Rico* Source text* Further company coverage.
Oct 11- Standard& Poor's investment-grade composite spread widened by 2 basis points to 190 bps yesterday, and the speculative-grade composite spread widened by 3 bps to 608 bps. By rating, the' AA' and' A' spreads widened by 3 bps each to 128 bps and 163 bps, respectively, and the' BBB' spread widened by 2 bps to 230 bps.
NEW YORK-- Shares of Stillwater Mining Co. tumbled Thursday, after the palladium and platinum producer announced plans to sell $300 million in notes.
MADRID, Oct 11- Spain is comfortable putting off an international aid request for weeks or even months as it waits out German political obstacles and seeks greater definition on the European Central Bank's bond-buying programme, analysts and sources say. Spain must first sign up for a European rescue plan to trigger the bond buying.
*U.S. to sell $13 billion in 30- year bonds. *Rating cut on Spain cushions bonds' price drop. "This suggests some improvement in the labor market," fueling selling in Treasuries, said David Keeble, global head of interest rate strategy at Credit Agricole Corporate& Investment Bank in New York.
*Sprint, Clearwire soar in early trade, MetroPCS sinks. TOKYO/ NEW YORK, Oct 11- Japanese mobile carrier Softbank Corp and U.S. operator Sprint Nextel Corp. are in talks about a deal that could see Softbank assume control of Sprint.
*Sprint volume surges, shares jump on Softbank deal reports. More than 320 million shares of Sprint Nextel changed hands in U.S. trading by 11:30 a.m. ET, making it the busiest day in the stock's history. Clearwire Corp, in which Sprint holds a majority interest, surged 38 percent to $1.79.
Oct 11- AMR Corp's American Airlines, which has canceled hundreds of flights for September and October citing increased aircraft maintenance reports and pilot sick usage, said on Thursday that it planned to continue flight reductions through the first half of November.
Oct 11- Fitch Ratings has assigned an' A+' rating to Alabama Power Company's issuance of $400 million series 2012 B 0.550% senior notes due Oct. 15, 2015.
Oct 11- Moody's rates Momentive Performance Material Inc senior secured notes B1.
Oct 11- Activist investor Carl Icahn on Thursday offered to buy all outstanding shares of U.S. truckmaker Oshkosh Corp for $32.50, a 21 percent premium to their Wednesday closing price. Oshkosh needs proactive shareholders to bring a proactive management team together to weather a volatile economy. "
NEW YORK-- U.S. airlines closed the summer travel season without any lengthy tarmac delays in August, the government said Thursday, a sharp reversal from a month earlier. On Aug. 15, a Caribbean Airlines flight sat on the tarmac at New York's JFK Airport for four hours and 28 minutes before it took off for its destination, Trinidad and Tobago.
FORT WORTH, Texas-- Shares of Range Resources Corp. climbed Thursday after the company gave an upbeat report on third-quarter oil and natural gas production.
Sepura gains 3.8 percent after an upbeat first half trading update from the digital communications firm, highlighting new business wins in North America. A healthy order book and robust pipeline of opportunities offers confidence in ongoing progress, " Liberum Capital says in a note repeating its" buy "rating on Sepura.
WASHINGTON-- The watchdog for spending in Afghanistan is warning commanders that a safety system to protect U.S. troops from roadside bombs is incomplete or inadequate. It was sent Wednesday to the top commander in Afghanistan, Gen. John Allen, and commander for the Middle East, and Gen.
*Boxberg R has 675 MW power capacity, cost $1 billion. FRANKFURT, Oct 11- Swedish utility Vattenfall's German unit started up a new coal-fired power station on Thursday in a rare departure from the country's strategy to focus on renewable energy and ditch its nuclear power.