The United Steelworkers Union is calling for a strike at nine refineries mostly in Texas and California after it says negotiations with Shell Oil Company broke down less than two weeks after they began. Negotiations over a new contract had started Jan. 21. Shell officials did not immediately return a call from The Associated Press seeking comment.» Read More
DUNCAN, S.C.-- A company that makes fiber optic products is expanding its operations in South Carolina's Spartanburg County. AFL announced Wednesday that it would invest $8.6 million to expand its presence in Duncan, creating 95 new jobs.
ROGERS, Ark.-- A new $10 million plastics recycling facility is planned for Rogers, Ark. and the company says it will hire up to 350 workers. Nextlife Asset Recovery Services announced Wednesday that it will open a headquarters and processing plant and that it will supply several companies with resin that's used to manufacture new consumer plastic items.
PROVIDENCE, R.I.-- A Providence- based start-up incubator said Wednesday it is partnering with two local universities and the business community in an effort to boost entrepreneurship in Rhode Island, where the economy continues to struggle.
ROCKVILLE, Md.-- Nabi Biopharmaceuticals Inc. said Wednesday that its anti-smoking vaccine NicVAX failed in another clinical trial, as a combination of NicVAX and Pfizer's smoking-cessation pill Chantix was no better than Chantix alone in helping patients quit. Nabi has been developing the drug through a partnership with GlaxoSmithKline PLC.
ST. PAUL, Minn.-- Medical device maker St. Jude Medical Inc. reported third-quarter earnings Wednesday that beat expectations, though company shares slumped as the executives warned that the company could receive a regulatory warning over a California manufacturing plant.
THE OFFER: ASML Holding NV, the Dutch chip-making equipment supplier, bid $2.55 billion for California company Cymer Inc.. THE ACQUIRER: ASML uses such beams in machines to trace out the circuits of computer chips. Its customers include Intel, Samsung and Taiwan Semiconductor Manufacturing, all of whom own stakes in ASML.
CHICAGO-- Grain prices rose Wednesday in early trading on the Chicago Board of Trade. Wheat for December delivery rose 3.25 cents to $8.51 per bushel; December corn gained 0.75 cent to $7.39 per bushel; December oats were unchanged at $3.9225 per bushel and November soybeans increased 4.25 cents to $14.98 per bushel.
COUNTING DOWN: The Spanish government will decide within the next few weeks whether to ask for outside financial help, noting it might opt for a precautionary line of credit instead of bailout cash.
NEW YORK-- CONTRACT ENDED: Nike Inc. said Wednesday that it is terminating Lance Armstrong's contract, citing insurmountable evidence that the cyclist participated in doping and misled the clothing and footwear company about those activities for more than a decade.
WALLINGFORD, Conn.-- Amphenol, which makes fiber optic cables, said Wednesday that its third-quarter net income climbed 10 percent, driven by strength across a variety of markets. For the three months ended Sept. 30, Amphenol earned $147.5 million, or 90 cents per share. Amphenol Corp. shares climbed $1.43, or 2.4 percent, to $61.60.
Bank of America, the country's second-biggest bank, reported Wednesday that mortgage originations jumped over a year ago _ up 18 percent to $21 billion. Bank of America's chief financial officer was ambiguous when asked whether the housing market had turned, as JPMorgan Chase and Wells Fargo, the country's two largest mortgage lenders, suggested last week.
RICHMOND, Va.-- Television and digital media company Media General Inc. said Wednesday that its third-quarter net loss widened because of higher expenses, but revenue grew sharply thanks to an increase in political advertising and the Olympics. Media General owns 18 broadcast TV stations, including NBC and CBS network affiliates.
DOWNERS GROVE, Ill.-- Dover Corp.' s third-quarter net income rose 40 percent, helped by acquisitions and by the absence of a big loss tied to discontinued operations from a year ago. Dover earned $241 million, or $1.31 per share, in the quarter ended Sept. 30, compared with $172.3 million, or 91 cents per share, a year earlier.
WASHINGTON-- President Barack Obama and Republican Mitt Romney teed up the last three weeks of the presidential election as a question of which man voters can trust to improve the economy. Obama, vastly more animated than in his first debate, accused Romney of misleading voters about his record on China, the U.S. auto industry and U.S. energy production.
MERRILL LYNCH FALLOUT: Bank of America's third-quarter profits suffered after the bank agreed last month to settle a big shareholder lawsuit. REFINANCING BOOM: Mortgage originations rose over the year, echoing a trend this quarter that also helped JPMorgan Chase and Wells Fargo.
DENVER-- Five people were found dead in a neighborhood bar where a fire broke out around closing time early Wednesday, and police think the blaze was set to cover up their slayings. The fire at Fero's Bar& Grill was reported around closing time at 2 a.m., Police Chief Robert White said. They didn't perish in the fire, "police Commander Ronald Saunier said.
NEW YORK-- The night busted open in New York City as Bruce Springsteen and other Rock and Roll Hall of Famers helped Steven Van Zandt celebrate his Big Man of the Year award. "What a liar," Van Zandt retorted with a grin.
"Companies are going out of the box," observes Ted Carmon, spirits buyer for the BevMo! Bill Newlands, president of Beam Inc., which bought Pinnacle Vodka earlier this year, sees the intensely flavored Whipped as playing into a trend of consumers "whether it's an alcohol beverage or anything else, looking for more flavor reward."