Shares of XenoPort Inc. sank Monday after the drug developer said a potential treatment for multiple sclerosis patients failed in late-stage clinical testing, and it will stop developing the drug. XenoPort was testing the drug to treat patients with spasticity due to multiple sclerosis.» Read More
MADRID, Oct 26- Spain's unemployment rate hit a record high in the third quarter, with one in four out of work and more expected to lose their jobs in 2013 as the next phase of government cutbacks kicks in.
The company was spun off from Dean Foods Co. at a time when the organic and natural foods segment is growing faster than the broader packaged food market.
SAN FRANCISCO, Oct 26- Pension changes recently endorsed by the Los Angeles city council don't go far enough for former Mayor Richard Riordan, who aims to put more aggressive fixes on the city's May 2013 ballot.
BOSTON-- The top securities regulator in Massachusetts has fined Citigroup $2 million for failing to supervise analysts who improperly disclosed confidential information about Facebook's initial public offering.
JOPLIN, Mo.-- Missouri is offering incentives for an Arkansas storage business to open a facility in Joplin. Jay Nixon's administration says Don's Cold Storage could receive more than $1.1 million under several state incentive programs to build a $14 million cold-storage and distribution center.
ALBUQUERQUE, N.M.-- Nearly all of New Mexico continues to grapple with some level of drought, and federal forecasting models show those conditions are likely to persist through January. State and federal officials reported during a drought monitoring meeting Thursday that there has been only one day of rain so far this month in the eastern half of New Mexico.
*Brazil investing heavily to increase energy capacity. SAO PAULO, Oct 26- A blackout affected as many as 12 Brazilian states late Thursday night and early Friday according to local media reports, the latest in a string of power shortages that have raised questions about whether Brazil's infrastructure is keeping pace with economic growth.
SANTA FE, N.M.-- The state Environmental Department says workplace deaths in New Mexico rose substantially in 2011.. The department says it logged a total of 51 deaths last year from 38 in 2010. The biggest increase was tallied among transportation workers, where 21 people were killed last year.
NEW YORK-- HMS Holdings Corp.' s shares shed nearly a quarter of their value Friday after the medical information company said its third-quarter earnings dropped 27 percent on higher costs. The New York company earned $10.5 million, or 12 cents per share, in the three months that ended Sept. 30.
NEW ORLEANS-- The Federal Emergency Management Agency has reimbursed the Louisiana Department of Public Safety for nearly $1.3 million in costs associated with its response to Hurricane Isaac.
CHICAGO-- Medical real estate company Ventas Inc. said Friday that its funds from operations grew 12 percent in the third quarter, buoyed by acquisitions. Ventas invests in, manages, finances and leases real estate used by health care companies.
RICHMOND, Va.-- Virginia economic development officials are releasing a guide to promote the export of services from companies around the state. The guide is from the Virginia Economic Development Partnership's International Trade division.
LONDON-- A former UBS trader accused of losing $2.3 billion through reckless deals and deceit broke down in tears in court Friday as he insisted he had acted purely to help save the bank he considered his family. Kweku Adoboli denied fraudulent behavior as he took the stand for the first time, six weeks into his trial at London's Southwark Crown Court.
BETHESDA, Md.-- Coventry Health Care Inc.' s third-quarter net income dropped 14 percent, as the health insurer's medical costs and other expenses outweighed revenue gains from an expansion of its Medicaid business.
The maximum wholesale rate will rise from $4,500 a megawatt hour now to $5,000 in June 2013, $7,000 in June 2014 and $9,000 in June 2015. State officials have warned that higher prices are needed to encourage companies to build more power plants as the Texas population grows.
LONDON, Oct 26- Gold fell on Friday, edging closer to seven-week lows touched earlier this week as equities came under pressure from disappointing earnings results, with the focus on U.S. third-quarter growth data due later in the day.
BALTIMORE-- A bank vice president has pleaded guilty to embezzling more than $600,000 from the institution. Fifty-six-year-old Wanda Henderson of Westover, Md. entered the plea on Thursday. According to her plea agreement, Henderson was vice president and executive assistant to the president of Hebron Savings Bank.