BEIJING, April 20- Strong demand for new automobiles in China has laid the foundations for the next leg of business for carmakers BMW, Audi and Mercedes-Benz: the second-hand premium car market. We have 290 dealers who offer certified pre-owned Audis, " Rupert Stadler, chief executive of Volkswagen's premium brand, Audi, said during the Auto China show in Beijing.» Read More
Among the earnings stories for Thursday, Oct. 18, from AP Business News:. _ Morgan Stanley reported higher revenue and net income for its third quarter Thursday thanks to gains in its bonds and asset management businesses.
ST. PAUL, Minn.-- Minnesota's unemployment rate remains a full two percentage points better than the national average. Figures for September show the seasonally adjusted jobless rate for Minnesota fell to 5.8 percent, a tick lower than September.
The benefit of recent downpours was more pronounced in states such as Iowa, the nation's biggest corn producer. Thursday's update showed that 63.9 percent of Iowa still is in extreme or exceptional drought _ the worst two classifications _ in what marked an improvement of nearly 12 percentage points from a week earlier.
VALENCIA, Calif.-- Shares of MannKind Corp. lost nearly a quarter of their value Thursday after the company announced plans to sell up to 140 million shares of stock. MannKind will use the funds to pay for new trials of its inhaled diabetes drug Afrezza and cancel more than $200 million in debt owed to its CEO.
BOSTON-- Massachusetts gained an estimated 5,100 jobs in September even as the state's unemployment rate crept up two-tenths of a point to 6.5 percent, officials said Thursday. Massachusetts remains below the U.S. unemployment rate, which stood at 7.8 percent in September.
WASHINGTON-- The Carlyle Group on Thursday completed its acquisition of a controlling stake in Getty Images Inc. in a deal worth about $3.3 billion. The private equity firm partnered with Getty's co-founders, Mark Getty and Jonathan Klein, and with the Getty family in buying the company from another private equity firm, Hellman& Friedman.
LISBON, Portugal-- Portugal's government says Latin American company Synergy Aerospace is the only candidate in the running to buy state airline TAP Air Portugal. The airline's main appeal is its more than 70 weekly flights from Portugal to Brazil and about the same number to Africa. Synergy Aerospace owns Colombia's Avianca.
NEW YORK-- The price of oil is falling on expectations that China is less likely to roll out a stimulus program for its improving economy. U.S. benchmark oil fell 94 cents, or 1 percent, to $91.18 a barrel in morning trading. Brent crude, which many U.S. refiners use to make gasoline, fell $1.42, or 1.3 percent, to $111.80 in London.
BALTIMORE-- Organizers of a weeklong commemoration of the War of 1812 in Baltimore's harbor say it drew more than 1.5 million visitors and generated $166 million in economic impact. Dozens of tall ships and naval warships from around the world traveled to Baltimore for June's "Star-Spangled Sailabration."
SIOUX FALLS, S.D.-- Drought conditions are stable in North Dakota over the week, but they have worsened again in South Dakota. Drought Monitor map shows that 57 percent of South Dakota is now in the two worst categories of drought, extreme and exceptional.
NEW YORK-- Morgan Stanley reported higher revenue and net income for its third quarter Thursday thanks to gains in its bonds and asset management businesses. Excluding an accounting charge, the bank earned $535 million for common shareholders in July to September, up from $39 million a year ago.
HOOKSETT, N.H.-- Public Service of New Hampshire has opened a 70,000 square-foot building in Hooksett that will consolidate transmission employees and equipment. The Northeast Utilities unit has two other facilities in Hooksett, including an area work center, which hosts line crews and trucks.
Lehigh Gas expects the IPO to raise between $105. million and $122 million based on an assumed offering price of $20 per unit, according to its Securities and Exchange Commission filings. Lehigh Gas provides fuel to gas stations and runs convenience stores.
HONG KONG-- The Chinese arm of U.S. casino company MGM Resorts International signed a land deal Thursday for a new $2.5 billion casino resort in Macau, the world's biggest gambling market, hoping to catch up with the rapid expansion of rival casino operators.
Video-game aliens have gotten bigger, uglier and meaner over the years. Think of the Covenant warriors in "Halo" or the Locust Horde in "Gears of War": huge, dumb, slobbering brutes who can soak up plenty of bullets before they pounce on you and crush your skull.
Among the earnings stories for Thursday, Oct. 18, from AP Business News:. _ Union Pacific Corp. said that its third-quarter profit climbed 15 percent because price increases and more automotive and chemical shipments helped the railroad offset a 12 percent drop in coal shipments.
MACY'S MILLENNIALS: Macy's will add 13 new brands and expand 10 labels it believes will resonate with shoppers between 13 and 30 years old. THE DETAILS: The roster includes an exclusive Marilyn Monroe fashion collection and a men's T-shirt line from an upstart called Fatal Clothing, which specializes in tattoo-influenced designs.
The homebuilder and mortgage company breezed past Wall Street expectations and shares at one point traded close to $914, a seven-year high. On Thursday, mortgage buyer Freddie Mac reported that the rate on the 30- year fixed mortgage fell near its record low, while the 15- year fixed mortgage set a record low of 2.66 percent.
BATON ROUGE, La.-- Lawmakers scrapped a planned vote Thursday on Louisiana Gov. The delay was announced a day before the scheduled hearing of the House and Senate budget committees to review the proposed contract between the Office of Group Benefits and Blue Cross/Blue Shield.
CHICAGO-- A leading venture capital firm is opening an office in Chicago, giving a boost to Mayor Rahm Emanuel's efforts to attract high-tech businesses and entrepreneurs to the city.