U.S. cancer drug company Medivation is discussing opening its books to Sanofi, people familiar with the matter said on Tuesday. » Read More
NEW YORK-- Shares of Tempur-Pedic slumped in premarket trading Wednesday after it posted disappointing third-quarter results and slashed its outlook for the year. Tempur-Pedic International Inc., known for its memory foam mattresses, said tough competition is hurting its North American business, while weakness in Europe is weighing on its global business.
BEIJING, Oct 24- China will seek to encourage more private investment in its state-dominated energy sector, according to a new industry white paper published by official news agency Xinhua on Wednesday.
BERLIN, Oct 24- Volkswagen's third-quarter underlying profit tumbled by a fifth as the deepening slump in European car markets and costs of a technology overhaul weighed on the auto maker's results.
*Coming Up: EIA data 1430 GMT, Federal Reserve policy decision 1815 GMT. SINGAPORE, Oct 24- Oil rose on Wednesday, snapping a six-day losing streak, after economic data from China suggested a gradual recovery in the world's No. 2 oil consumer, though weak European data kept the gain slim. Brent crude was up 63 cents at $108.88 a barrel by 0855 GMT.
AMSTERDAM, Oct 24- A Dutch court ruled on Wednesday that Samsung Electronics does not infringe an Apple patent by using certain multi-touch techniques on some Galaxy smartphones and tablet computers.
TOKYO, Oct 24- Japan's Sumitomo Life Insurance plans to increase yen bond holdings in the six months to March, while taking a more cautious stance on foreign bonds because of expectations of lower yields, a senior official said on Wednesday.
NEW YORK-- Shares of Facebook surged in premarket trading Wednesday, as analysts praised the social media company's third-quarter results, including its first quarter of advertising to mobile device users.
MELBOURNE, Oct 24- Deutsche Bank has built a 5.2 percent stake in Australian takeover target GrainCorp in recent months, a move that could pay off handsomely as the target's shares have soared and could climb even higher if rival bids appear.
*Nintendo Q2 op loss falls to 18.8 bln yen vs 19.6 bln yen. *Nintendo says expects to sell 5.5 mln Wii U by March 31.
The ECB's plan to to buy unlimited amounts of short-term government bonds of troubled euro countries has met with skepticism in Germany and resistance from the head of the country's central bank. The plan is aimed at keeping a lid on borrowing costs of indebted countries such as Spain and Italy.
DALLAS-- US Airways turned in a strong performance during a three-month stretch that covers much of the peak summer vacation season. The results are especially important to US Airways Group Inc. as it pursues a merger with American Airlines.
DALLAS-- US Airways says it earned $245 million in the third quarter, its best profit ever for the 3- month period that covers much of the peak summer vacation season. The airline says it would have earned $192 million, or 98 cents per share, before gains such as a swap of airport landing slots with Delta Air Lines.
TEHRAN, Iran-- Iran's intelligence chief says up to 50 people have been arrested in connection with the decline in the value of the national currency and the chaos that followed the slide. Iran's rial has lost nearly 40 percent of its value against the U.S. dollar this month.
GENK, Belgium, Oct 24- Ford Motor Co will transfer the production of new versions of its Mondeo, S-Max and Galaxy models to Valencia, Spain, from Belgium, union representative Luc Prenen said on Wednesday.
NEW YORK-- Shares of Netflix Inc. tumbled more than 16 percent before Wednesday's opening bell, after the company slashed its prediction for how many U.S. video-streaming subscribers it would add this year. As a result, Netflix cut its estimate for full-year U.S. streaming subscriber additions to between 4.7 million and 5.4 million.
Only the Bill Gates or the Warren Buffetts of the world could come up with the breathtaking sum an appeals court demanded Jerome Kerviel reimburse to Societe Generale as punishment for committing one of the biggest trade frauds in history. I think the judgment is protecting Societe Generale. "
TOKYO, Oct 24- Asahi Mutual Life Insurance plans to focus on investing in domestic bonds while continuing to cut Japanese stock holdings in the six months to March 2013, as it aims for stable portfolio management, a senior official said on Wednesday.
HONG KONG, Oct 24- Hong Kong shares posted a fresh 2012 closing high on Wednesday, buoyed by expectations of more capital inflows into the territory after its de facto central bank moved to weaken the Hong Kong dollar for the fourth time in less than a week.
*Macitentan the big hope as Tracleer nears patent expiry. ZURICH, Oct 24- A new lung and heart drug from Actelion prolonged overall survival by more than a third in a clinical trial, reassuring Europe's leading biotech company that it has a viable successor to its current top seller.