U.S. cancer drug company Medivation is discussing opening its books to Sanofi, people familiar with the matter said on Tuesday. » Read More
BANGKOK-- The price of oil approached $93 a barrel Tuesday in Asia after a report showed U.S. manufacturing rose in September for the first time in four months. Benchmark oil for November delivery was up 21 cents to $92.69 a barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange.
BANGKOK-- World stock markets lost momentum Tuesday as investors weighed an improvement in U.S. manufacturing against the possibility Spain's government debt will be downgraded to junk status. Britain's FTSE 100 fell 0.3 percent to 5,806.11. In Asia, Japan's Nikkei 225 index shed morning gains to close 0.1 percent lower at 8,786.05.
MADRID-- The number of people registered as unemployed in Spain rose by a little under 80,000 people to 4.71 million in September as the summer tourism season came to an end and businesses let workers go, the Labor Ministry said Tuesday.
LISBON, Portugal-- The peaceful retirement of Teresa Dourado is about to be shattered. The 77- year-old widow raised two children with her husband in their fourth-floor apartment behind Lisbon's Campo Pequeno bull-ring.
TAIPEI, Taiwan-- Hong Kong media mogul Jimmy Lai announced Tuesday he will sell his prized Taiwan television business, best known for its fanciful animated takes on political and celebrity scandals, because of big financial losses.
SYDNEY-- Australia's central bank cut its benchmark interest rate by a quarter percentage point Tuesday as a slowdown in China's economy and persistent weakness in Europe adds to uncertainty about Australia's economic outlook.
MUMBAI, India-- Kingfisher Airlines has grounded flights for at least three days after a violent strike over unpaid wages at the cash-strapped Indian carrier. Chief executive Sanjay Aggarwal met with India's airline regulator Tuesday. Aggarwal said half of Kingfisher's employees received their salary for March 2012, though he forfeited his.
BANGKOK-- Oil prices dwelled near $92 a barrel Tuesday in Asia after a report showed U.S. manufacturing rose in September for the first time in four months. Benchmark oil for November delivery was down 17 cents to $92.31 a barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange.
MIDLAND, Texas-- Diamondback Energy Inc. said Tuesday that it plans to sell 12.5 million shares in its business for between $17 and $19 per share in an initial public offering of the oil and gas company.
WASHINGTON-- The AFL-CIO has endorsed a nationwide consumer boycott of American Crystal Sugar products to protest its 14- month lockout of union workers.
LAS VEGAS-- Brick-and-mortar casinos are opening in Ohio and Illinois. Voters in Oregon, Rhode Island and Maryland will vote on gambling initiatives Nov. 6.
BENCHMARK SWITCH: The Vanguard Group has negotiated lower cost index-licensing deals that will result in 22 of its index mutual funds switching to new benchmarks, and adjusting stock holdings accordingly. NEW PARTNERS: The funds currently track indexes, or groups of stocks in certain market segments, licensed from the firm MSCI.
BOSTON-- A monthly index measuring confidence among Massachusetts employers has slipped a bit after showing improvement for two consecutive months.
MADRID-- Spain's prime minister denied Tuesday that he was ready to request a bailout for the country, fending off mounting speculation that a move to ask the European Central Bank to buy Spanish bonds and push down the nation's high borrowing costs was near.
NEW YORK-- Shares of Aruba Networks fell more than 7 percent on Tuesday after the company delayed the filing its full-year results because of internal control issues.
Benchmark oil rose 13 cents Tuesday to $92.61 per barrel in New York. Brent crude, which is used to price international varieties of oil, fell 29 cents to $111.90 per barrel in London. At the pump, the national average for gasoline was unchanged at $3.78 per gallon, according to AAA, Wright Express and the Oil Price Information Service.
SUMMIT, N.J.-- Shares of Celgene Corp. rose Tuesday after the company said its cancer drug Abraxane slowed the progression of melanoma in a late-stage clinical trial. Celgene said patients who were treated with Abraxane had greater progression-free survival than patients who were treated with the chemotherapy drug dacarbazine.
NEW YORK-- Americans are expected to spend more during what's traditionally the busiest shopping season of the year, but they're not exactly ready to shop `til they drop like they have been in the past two years.