NEW YORK— Oil's slump didn't just hit the stock market, it's shaken up the junk-bond market, too. If the index were to end December at that level, it would mark the biggest two-month slump since June 2013. By comparison, a broader Barclays index tracking the entire bond market, which includes corporate bonds with better credit ratings and Treasurys, is largely...» Read More
HONG KONG, Oct 26- Adam Gazal trained for six months to stand in the ring for six minutes of live boxing. The managing partner of National Australia Bank was one of 14 contenders who on Thursday took part in Hong Kong's sixth annual IronMonger Hedge Fund Fight Night, a fundraising event that is now a staple of the city's financial community.
*Stronger than expected UK growth supports risk-on trade. *Treasury sells $29 billion in seven-year notes. ``Today's auction was pretty lackluster,'' said Kim Rupert, managing director of global fixed income analysis at Action Economics in San Francisco.
NEW YORK, Oct 25- U.S. crude futures rose on Thursday in choppy trading, snapping a string of five lower settlements, boosted by supportive UK economic data and a rally by refined products futures on concerns about Hurricane Sandy affecting refineries on the East Coast.
*CEOs demand Congress find debt solution. WASHINGTON, Oct 25- Chief executives of more than 80 big U.S. corporations, including Goldman Sachs, Cisco Systems and Boeing, joined forces to press Congress to reduce the federal deficit in a rare show of broad corporate unity.
DES MOINES, Iowa-- Financial services company Principal Financial Group Inc. said Thursday that its profit more than doubled in the third quarter, lifted by a large gain from an investment sale. Net income for the July-through-September period was $179.7 million, or 60 cents per share, compared with $71.9 million, or 23 cents per share, a year earlier.
MILPITAS, Calif.-- KLA-Tencor, which makes equipment for manufacturing semiconductors, said Thursday that its fiscal first-quarter net income fell 30 percent, hurt by weak demand across its industry. Net income for the three months ended Sept. 30 fell 30 percent to $135.4 million, or 80 cents per share.
*BNP Paribas' counterparty strength downgraded. PARIS, Oct 25- Ratings agency Standard& Poor's cut the credit ratings of several French banks including BNP Paribas on Thursday, warning they were becoming more exposed to a potentially protracted recession in the euro zone.
DETROIT, Oct 25- J.D. Power and Associates and LMC Automotive on Thursday raised the forecast for 2012 U.S. auto sales to 14.4 million vehicles, from the previous forecast of 14.3 million, as the auto industry continues to recover from its downturn three years ago.
*Expects $1.82 per-share charge in Q3. Oct 25- Spirit AeroSystems Holdings Inc sounded an alarm Thursday about sizable cost overruns on parts it supplies to major aircraft makers, news that sent its stock tumbling more than 30 percent in active trading.
FALLING SHORT: Amazon reported third-quarter results below Wall Street's expectations on Thursday _ including a large loss from its stake in online deals service LivingSocial. NUMBERS STORY: The world's largest online retailer posted a loss of $274 million, or 60 cents per share.
Oct 25- Potash Corp of Saskatchewan's third-quarter earnings fell 22 percent as a standoff over new contracts led to a sharp drop in shipments to China and India, the world's two biggest consumers of the company's namesake crop nutrient. China accounted for just 12 percent of sales and India 5 percent.
That's the best proof, Toyota officials say, that they're achieving their goals at the north Mississippi plant, which marks its first anniversary this week. It could grow to make 200,000 vehicles a year, though Toyota says there are no expansion plans now.
Personal computer makers Hewlett-Packard and Dell are having a tough year. President and CEO: Meg Whitman. Source: Google Finance, Morningstar, company websites.
LONDON-- The scale of the child sex abuse scandal engulfing the BBC expanded on Thursday as authorities announced that 300 potential victims had come forward with accusations against one of the broadcaster's most popular children's entertainers and that others might have acted with him.
Shares of Hewlett-Packard Co. are down 45 percent this year, and Dell Inc. has fallen 37 percent. Dell hasn't been this low since early 2009, when the market bottomed out following the financial crisis. It's bad news for investors in mutual funds that count HP or Dell among their biggest stock holdings.
*Euro falls as Spain bailout uncertainty continues to weigh. NEW YORK, Oct 25- The dollar rallied to a four-month high against the yen on Thursday as a rise in Treasury yields and expectations the Bank of Japan will ease monetary policy next week had investors broadly selling the Japanese currency.
NEW YORK-- Boeing said Thursday that it has acquired Miro Technologies, a privately held company that specializes in software to help manage logistical services. Miro will become part of the Global Services& Support business that falls under Boeing Defense, Space& Security, which is a unit of The Boeing Co. Financial terms of the acquisition were not disclosed.
*U.S. drought alters typical grain trading patterns- Bunge. CHICAGO, Oct 25- Bunge Ltd shares jumped on Thursday as the agribusiness giant doubled quarterly profits by mobilizing its global grain network to supply customers hit by the worst U.S. drought in more than 50 years.
*P&G profit of $1.06/ share tops expectations of 96 cents. Oct 25- Procter& Gamble Co's profit rose more than expected, indicating that the world's largest household products company is making progress in cutting costs and giving Chief Executive Bob McDonald a little relief after months of pressure.
PALO ALTO, Calif.-- Shares of Varian Medical Systems Inc. jumped 13 percent in afterhours trading Thursday after the company reported a 20 percent rise in its fourth-quarter profit fueled by higher device sales. Varian reported net income of $120.2 million, or $1.08 per share, up from $101 million, or 87 cents per share, in the prior year period.