Business News


  • Finmeccanica's AnsaldoBreda wins 210 mln euro deal Monday, 1 Oct 2012 | 1:43 PM ET

    MILAN, Oct 1- Finmeccanica said on Monday its AnsaldoBreda unit had won a contract worth 210 million euros to supply 30 metro trains for the Milan underground system. Loss-making AnsaldoBreda is among the activities that Finmeccanica is looking to sell to focus on defence and aerospace businesses and keep its investment grade rating.

  • Gordmans Stores falls as co. cuts 3Q, 4Q forecasts Monday, 1 Oct 2012 | 1:43 PM ET

    OMAHA, Neb.-- Shares of Gordmans Stores slid more than 24 percent on Monday, its biggest ever one-day drop, as the clothing and home decor company lowered its third and fourth-quarter financial forecasts because of a sales slowdown. Gordmans said Monday that its revenue at stores open at least a year fell 2.1 percent for the third quarter through Sept. 29.

  • WASHINGTON, Oct 1- A precipitous drop in Iran's currency, the rial, reflects relentless international pressure on the country over its suspected nuclear weapons program, the U.S. State Department said on Monday.

  • UK regulator seeks to smooth EU gas trade Monday, 1 Oct 2012 | 1:39 PM ET

    *Says gas sometimes flows against market signals. LONDON, Oct 1- Britain's electricity and gas regulator Ofgem sought on Monday to identify and remove barriers to European gas trading via pipelines that connect it to the continent, as the UK tries to bolster gas imports on which it is becoming increasingly dependent.

  • ATHENS, Oct 1- Greece on Monday unveiled its 2013 draft budget, aimed at pleasing international lenders and securing a vital tranche of bailout cash. The following are the Greek government's key targets and projections, as well aS the austerity measures being negotiated with the EU/ECB/IMF troika.

  • German government may subsidise electric cars Monday, 1 Oct 2012 | 1:38 PM ET

    BERLIN, Oct 1- Germany may subsidize electric cars after the next general election in order to meet a lofty goal of 1 million fossil fuel-free vehicles on the road by 2020, according to Chancellor Angela Merkel.

  • OTTAWA, Oct 1- The Canadian government has decided it can squeeze more cost savings from its operations despite billions of dollars of already announced spending cuts, the cabinet minister in charge, Treasury Board President Tony Clement, told Reuters on Monday.

  • Ikea deleted women from Saudi version of catalog Monday, 1 Oct 2012 | 1:35 PM ET

    The report raised questions in Sweden about Ikea's commitment to gender equality, and the company released a statement expressing "regret" over the issue. "We should have reacted and realized that excluding women from the Saudi Arabian version of the catalog is in conflict with the IKEA Group values," the company said.

  • *Continues to exceed commitments to buy Michigan products and services: sets. *Says now expects to spend $700 million with Michigan suppliers by December. *Says estimates it will spend $1.3 billion with Michigan suppliers in 2011 and.

  • INDIANAPOLIS, Oct 1- Federal Reserve Chairman Ben Bernanke said on Monday the U.S. central bank did not foresee a recession but that growth was too slow to bring down the nation's jobless rate. "Right now we see an economy which is expanding. We see employment... still growing, "Bernanke said."

  • WASHINGTON, Oct 1- American Express will refund $85 million to customers to resolve charges that three subsidiaries broke consumer protection laws across the credit card business, U.S. regulators said on Monday.

  • *New CEO, Robert Card, sees "a lot of potential growth areas". *La Presse reports SNC made "dubious payments" to win Montreal contract.

  • Judge stops strike by Detroit water-sewer workers Monday, 1 Oct 2012 | 1:31 PM ET

    DETROIT-- Workers rejected a judge's "ridiculous" order Monday to end a strike protesting job cuts at the Detroit regional water department, a union lawyer said. Union attorney George Washington called federal Judge Sean Cox's injunction "outrageous" and said he would file a motion to dissolve it.

  • Groups call on Dominion for more renewable energy Monday, 1 Oct 2012 | 1:30 PM ET

    RICHMOND, Va.-- Several environmental groups say Dominion Virginia Power needs to do more to increase the use of renewable energy like solar and wind power. Dominion Virginia is a unit of Dominion Resources Inc..

  • FRANKFURT, Oct 1- The European Central Bank will not rush through "half-baked" plans for a new pan-European banking supervisor, policymaker Joerg Asmussen said on Monday, adding to doubts that the new structure can start as planned in January.

  • *Moody's raises ratings of Progressive waste services, cfr to ba1 from ba2.

  • LONDON, Oct 1- Banks must change their culture to focus on the needs of customers to restore trust in the industry, Stephen Hester, chief executive of part-nationalised Royal Bank of Scotland, said on Monday.

  • News Summary: Ex-Johnson & Johnson CEO Burke dies Monday, 1 Oct 2012 | 1:29 PM ET

    LEADER DIES: James E. Burke, who as CEO steered Johnson& Johnson through the Tylenol poisonings that led to the first tamper-resistant packaging, died at 87 after a long illness.

  • Hawaii gov to give update on health care plans Monday, 1 Oct 2012 | 1:28 PM ET

    The governor says he will announce a major milestone in the process of making sure Hawaii residents have access to good healthcare and insurance. Hawaii is among the states that bet correctly that the U.S. Supreme Court would uphold Obama's law. Census data from 2010 show 7.7 percent of Hawaii residents are without health insurance.

  • BERLIN, Oct 1- Angela Merkel's main challenger in next year's German election said on Monday the chancellor had failed to set out a clear vision for Europe and likened her to a plane pilot who has forgotten to tell her passengers where they will land.