China's yuan was devalued sharply in the 1990 s and for years China intervened heavily in exchange markets to keep it weak, raising complaints from U.S. manufacturers. Since 2005, China has let its currency appreciate by about 25 percent, and the Treasury officials repeated statements made in February that China recently appeared to be intervening a lot less.» Read More
NEW YORK, Oct 25- The dollar hit 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. Expectations that the Bank of Japan will take action on Oct. 30 to stimulate the Japanese economy and higher U.S.
*CEOs demand Congress find debt solution. WASHINGTON, Oct 25- Chief executives of more than 80 big U.S. corporations, including Goldman Sachs, JPMorgan and Boeing, joined forces on Thursday to pressure Congress to reduce the federal deficit with tax reform and spending cuts.
NEW YORK-- Stocks are closing modestly higher after a handful of decent corporate earnings reports were enough to break a weeklong slump in the market. Procter& Gamble was the biggest gainer in the Dow after the consumer products company, whose products include Tide, Gillette and Charmin, reported earnings that beat analysts' expectations.
BLOOMFIELD HILLS, Mich.-- TriMas Corp., which makes packaging materials, aerospace components and other engineered parts, said Thursday that its third-quarter net income rose 2 percent, bolstered by acquisitions in Brazil and New Zealand.
TULSA, Okla.-- The Department of Labor announced Thursday it is suing a Tulsa, Okla.- area restaurant chain over nearly $1 million in unpaid wages it alleges the business owes to more than 220 employees.
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.
The attorney, Patricia Millett, asked the 2nd U.S. Circuit Court of Appeals in Manhattan to decide that the government acted improperly to persuade a judge in March 2008 to permit a wiretap to be placed on Raj Rajaratnam's cellphone.
Oct 25- Precision Drilling Corp, Canada's largest drilling contractor, reported a 53 percent slide in quarterly profit as gas firms cut drilling in the face of weak demand and sliding gas prices. Natural gas prices in the third quarter fell 29 percent from last year, pushing the number of rigs drilling for gas in the United States to a 13- year low this month.
OKLAHOMA CITY-- The Oklahoma State Board of Education has approved a $2.3 billion budget request from Oklahoma lawmakers that includes additional funding for teacher pay raises. The request represents a $289 million increase over the funding levels for the current fiscal year.
SARASOTA, Fla.-- Roper Industries Inc., a medical and industrial equipment maker, said Thursday its third-quarter profit rose 6 percent on stronger sales in three of its four business units. Net earnings for the three months ended Sept. 30 were $117 million, or $1.19 per share, up from $110.3 million, or $1.15 per share, in the third quarter of 2011..
*3rd- quarter EPS $1.91 excluding items vs Street view $1.60. ``They put up a nice solid quarter,'' said RBC Capital Markets analyst Michael Yee. ``What's being appreciated in biotech is the consistent beat and raise by all four of the large cap biotechs this week and that's got the sector on the move.''.
WASHINGTON, Oct 25- Raytheon Co, maker of Patriot missiles, radar and other military equipment, reported higher-than-expected quarterly earnings on Thursday despite a 1 percent drop in revenues, and it raised its forecast for 2012 earnings.
SACRAMENTO, Calif.-- The McClatchy Co. reported lower net income in the third quarter, hurt by declining circulation and ad revenue at its newspapers. The owner of The Miami Herald, The Sacramento Bee and other newspapers said Thursday that it earned $5.1 million, or 6 cents per share, in the July-September period.
TULSA, Okla.-- The Department of Labor announced Thursday it is suing a Tulsa- area restaurant chain over nearly $1 million in unpaid wages it alleges the business owes to more than 220 employees.
Aetna said that next year it will shift even more of its commercial and Medicare business to these groups, known as accountable care organizations, which are offered incentives to improve the quality of care while lowering costs. Medicare is the government health plan for older Americans.
NEW YORK-- Amid worries that the recovery in travel demand may have "lost its steam," shares of Starwood Hotels and Resorts Worldwide Inc. dropped Thursday afternoon. The Stamford, Conn., company expects to earn between 64 and 66 cents per share in the last three months of the year.
United Continental Holdings Inc.' s profit tumbled to $6 million after earning $653 million in the same quarter last year, and the results fell short of Wall Street's expectations.
PHILADELPHIA-- The U.S. Environmental Protection Agency said Sunoco Inc. is paying a $117,000 fine to settle alleged violations of hazardous waste storage regulations at one of its former plants in northeast Philadelphia. The EPA said it cited Sunoco for violating a federal law governing the storage and disposal of hazardous waste.
NEW YORK-- In a story Oct. 23 about the boom in U.S. oil production, The Associated Press misidentified the year and amount of peak U.S. oil output. US could soon overtake Saudi Arabia as world's biggest oil producer; output is booming. NEW YORK _ U.S. oil output is surging so fast that the United States could soon overtake Saudi Arabia as the world's biggest producer.
OMAHA, Neb.-- Warren Buffett's company won the auction for Residential Capital's loan portfolio with a $1.5 billion bid this week. That means the conglomerate Berkshire Hathaway Inc. will acquire the loans as long as a bankruptcy judge approves. ResCap's parent company is Ally Financial, which is 74 percent owned by the U.S. government as a result of bailouts.