Business News


  • *Stifel raises Costco Wholesale Corp target price to $107 from $100;.

  • MADRID, Oct 2- Germany Economy Minister Philipp Roesler will pay a routine visit to Spain's Economy Minister Luis de Guindos in Madrid on Wednesday, a Spanish economy ministry spokeswoman confirmed on Tuesday.

  • Oct 2- A federal panel may tag American International Group Inc as "too big to fail," a move the company has been expecting and one that would sharply increase regulatory oversight of the government-rescued insurer.

  • BRIEF-Saab wins 119 mln SEK order Tuesday, 2 Oct 2012 | 10:03 AM ET

    STOCKHOLM, Oct 2- Saab AB:. *Says the order amounts to euro 12, 8 million. *Deliveries will be made from the business area Electronic Defence Systems in Gothenburg during 2014-2018.

  • Oct 2- LDK Solar Co Ltd said lenders to its controlling shareholder have agreed not to sell some loan-related collateral, including shares of the Chinese solar equipment maker, for 12 months.

  • BRIEF-TripAdvisor acquires Wanderfly Tuesday, 2 Oct 2012 | 10:02 AM ET

    *Says terms of the acquisition will not be disclosed.

  • MOSCOW, Oct 2- Inter RAO Lietuva, a Baltic electricity trader 51 percent owned by Russia's Inter RAO, plans to hold an initial public offering in Warsaw at the end of 2012 or the beginning of 2013, an Inter RAO official said.

  • PVH boosts 3Q, full-year earnings forecasts Tuesday, 2 Oct 2012 | 10:01 AM ET

    The company said Tuesday that Tommy Hilfiger is doing particularly well in North America and that its planned turnaround of the Heritage Brands wholesale businesses is going better than expected. For the third quarter, PVH Corp. now anticipates adjusted earnings of $2.28 to $2.30 per share.

  • Oct 2- John Wiley& Sons Inc, the publisher of the "For Dummies" books, said it will buy privately held online learning services company Deltak.edu LLC for $220 million to strengthen its business with higher education institutions.

  • Swedes slam IKEA for its female-free Saudi catalogue Tuesday, 2 Oct 2012 | 10:01 AM ET

    STOCKHOLM, Oct 2- IKEA, the world's biggest furniture retailer, has come under heavy criticism in its home market Sweden after it airbrushed women out of its latest catalogue in Saudi Arabia, raising questions about its policies towards gender equality. "And if there is any country in the world that needs to know IKEA's values, it is Saudi Arabia.

  • BRIEF-Toyota says sales up 41.5 pct in September Tuesday, 2 Oct 2012 | 10:01 AM ET

    DETROIT, Oct 2- Toyota Motor Corp:.

  • Acuity 4Q results fall short of Wall Street's view Tuesday, 2 Oct 2012 | 9:59 AM ET

    ATLANTA-- Acuity Brands' fiscal fourth-quarter net income fell 3 percent, pulled down by a charge and expenses related to a plant closing. The lighting maker, which sells lights under brands including Holophane, Gotham and Synergy Lighting Controls, earned $33.3 million, or 78 cents per share, for the three months ended Aug. 31.

  • Shares in aerospace and defence company EADS, in merger talks with UK peer BAE Systems, rise 3 percent, gaining technical momentum after moving back above a key resistance level and with charts showing the stock's recovery rally gaining traction.

  • Ford's US sales flat in September Tuesday, 2 Oct 2012 | 9:57 AM ET

    DETROIT-- Ford Motor Co. says its U.S. sales were flat in September as increases in sales of cars and SUVs were weighed down by lower truck sales. Ford's truck sales fell 7.6 percent, largely because of the discontinuation of the Ranger small pickup. The Ranger was a strong seller last September.

  • Oct 2- Erdene Resource Development Corp:. *Proposing division into two public companies. *To hold shareholder meeting for plan to separate Mongolian metals exploration.

  • Poland sets final terms on EUR1.75bn July 2024 Tuesday, 2 Oct 2012 | 9:56 AM ET

    LONDON, Oct 2- The Republic of Poland has set final terms on its EUR1.75bn 12 year bond due July 9 2024 via Commerzbank, HSBC, ING and SG CIB. Order books for the A2/A-/A- rated deal closed at EUR3.5bn before reconciliation. The bonds will have a spread of 143 bp over mid-swaps once priced, which will occur shortly, a manager said.

  • LONDON, Oct 2- Magnolia Petroleum PLC:.

  • MADRID, Oct 2- Germany Economy Minister Philipp Roesler will pay a routine visit to Spain's Economy Minister Luis de Guindos in Madrid on Wednesday, a Spanish economy ministry spokeswoman confirmed on Tuesday.

  • 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.

  • Fortress unit seeks bids for German flats-sources Tuesday, 2 Oct 2012 | 9:50 AM ET

    FRANKFURT, Oct 2- German real estate company Gagfah is seeking bids for the 38,000 flats it plans to sell in the city of Dresden by the end of the week, according to people with knowledge of the matter.