It is seen as a potential distribution center for the Caribbean and Central and South America and is at the heart of a special development zone designed to attract foreign investment in Cuba. The United States and Cuba are restoring diplomatic relations after five decades of hostilities, though full trade and travel will take longer as President Barack Obama...» Read More
TEGUCIGALPA, Honduras-- Honduras' Supreme Court has struck down a plan to build a series of model cities with their own independent tax and justice systems, a proposal that was meant to spur economic growth in this Central American country struggling with corruption and crime.
ST. PAUL, Minn.-- Minnesota Gov. Mark Dayton on Thursday appointed the director of the state Trade Office, who also worked on his 2010 campaign, as the new commissioner of the Department of Employment and Economic Development.
PORTLAND, Maine-- E-Z pass users on the Maine Turnpike will soon see some deeper discounts. The Maine Turnpike Authority Board on Thursday unanimously approved a phased-in plan to offer revised toll discounts to E-ZPass customers starting Nov. 1.
OMAHA, Neb.-- Union Pacific said Thursday 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. Union Pacific, based in Omaha, Neb., said Thursday that revenue grew 5 percent to $5.34 billion from last year's $5.1 billion.
The layoffs will affect workers at the company's Fuel Systems Plant in Columbus, Columbus MidRange Engine Plant or the Seymour Engine plant, Cummins spokesman Jon Mills told The Republic for a story Thursday.
MILWAUKEE-- Engine maker Briggs& Stratton Corp. said Thursday its fiscal first-quarter loss widened, as drought conditions in much of the U.S. and tough economic conditions in Europe cut into its sales.
LONDON-- The British Broadcasting Corp. says someone is deliberately disrupting its broadcasts in the Middle East and Europe _ interference that follows previous accusations that Iran has attempted to jam the broadcaster's transmissions.
NEW YORK-- Data provider Reed Elsevier Group PLC said Thursday that David Brennan's appointment to its board of directors has been postponed indefinitely. The company said Brennan requested the postponement for personal reasons. The company said in February that Brennan would join its board on Nov. 1.
GENEVA-- An appeals panel of the World Trade Organization has upheld a ruling that China unfairly imposed import tariffs on a high-technology U.S. steel product. In a ruling Thursday, the WTO appeals panel said China was wrong in the way it put duties on U.S.-made grain-oriented flat-rolled electrical steel.
THE LOWDOWN: The average U.S. rate on a 30- year fixed mortgage has fallen to near its record low set earlier this month. HOW THEY RATE: The rate on the 30- year loan, the most popular mortgage, dipped to 3.37 percent from 3.39 percent last week.
PALO ALTO, Calif.-- Shares of Anacor Pharmaceuticals Inc. tumbled Thursday after the drug developer announced pricing for a public offering of stock at a discounted rate to the current trading price. The Palo Alto, Calif., drug developer said that it priced an offering of 4 million shares at $6 per share.
WASHINGTON-- The Carlyle Group LP 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.
CHARLOTTE, N.C.-- Nucor Corp.' s third-quarter net income plunged 39 percent on lower sales and prices as demand for steel fell in the sluggish global economy. Nucor said Thursday that it earned $110.3 million, or 35 cents per share, in the July-through-September quarter.
NEW YORK-- Shares of Mellanox Technologies Ltd. tumbled Thursday, after the semiconductor maker issued a disappointing revenue outlook for the current quarter and full year.
BOLINGBROOK, Ill.-- Beauty retailer Ulta Beauty said Thursday that Bruce L. Hartman has resigned as chief financial officer and will be replaced by Scott Settersten on a temporary basis. The company earned $35 million, or 54 cents per share, for the quarter ended July 28.
NEW YORK-- Gasoline prices have finally begun their seasonal slide. That's 13 cents below the fall peak of $3.87 reached on Sept. 14, although still higher than ever for this time of year. Tom Kloza, Chief Oil Analyst at the Oil Price Information Service, predicts drops of 5 cents to 15 cents per week for the next three weeks.
BRUSSELS-- European Union leaders are tussling over how much power they want to cede to central authorities during a summit meeting in Brussels focused on how to ensure their debt crisis never repeats itself.
Tobacco companies including Philip Morris International Inc. have ventured into smokeless tobacco and other nicotine products as tax increases, health concerns, smoking bans and stigma cut into demand for cigarettes.
FRANKFORT, Ky.-- Kentucky is reporting a slight decline in its jobless rate in September despite a major loss of manufacturing jobs. The Office of Employment and Training released new unemployment figures on Thursday showing the jobless rate at 8.4 percent.