July 28- Ally Financial Inc, the largest U.S. auto lender, reported a 44 percent fall in quarterly profit as the company paid more in taxes. The company reported a net income of $182 million, a loss of $2.22 on a per share basis, for the second quarter ended June 30, compared with a profit of $323 million, or 54 cents per share, a year earlier. Income tax expense increased to...» Read More
Oct 24- Marathon Oil Corp said on Wednesday it is in negotiations to sell a portion of its 20 percent stake in the Athabasca Oil Sands Project in Canada as part of a strategy to shed less profitable assets. No sale of the non-operated Athabasca interest can be assured, Houston- based Marathon said.
HOUSTON-- Two Texas pilots who were arrested in Panama on suspicion of money laundering headed home for good Wednesday after authorities decided there is no case against them, their employer said. Carl Moody and Kenneth Chonoski were arrested after landing in Panama in May last year.
*Boeing climbs after earnings, outlook. NEW YORK, Oct 24- U.S. stock edged higher on Wednesday after data from China and Boeing provided temporary relief to a slumping market, following a retreat Tuesday when the Dow Jones industrial average suffered its biggest drop in four months.
*Production to be transferred to Spain. GENK, Belgium/ MADRID, Oct 24- Ford Motor Co will close a Belgian factory employing more than 4,000 workers, shifting production to Spain as the U.S. automaker scrambles to cut costs and stem European losses.
NEW YORK-- Altera tumbled in afternoon trading Wednesday after the chipmaker gave a disappointing fourth-quarter revenue forecast. Altera's net income sank 3 percent in the quarter ended Sept. 28, to $161.2 million, or 49 cents per share.
OMAHA, Neb.-- The Rural Media Group has purchased another cable network to expand its programming into more markets. Rural Media produces RFD-TV and Rural TV with rural-themed programming. The deal gives the company access to several major markets, including New York, Chicago, Atlanta, Dallas and Los Angeles.
NEW YORK-- Donald Trump wants to make a deal with President Barack Obama. If Obama releases his college and passport records by the end of October, the New York real estate mogul and reality show host says he will contribute $5 million to a charity of the president's choice.
Dollar Tree is a wise bet for investors both near- and long-term, according to Goldman Sachs, given that shares of the discount retailer have tumbled 31 percent since June. Dollar Tree also has a long history of delivering consistent growth regardless of the broader economy, Grambling said in a research note Tuesday.
LONDON, Oct 24- A simple approach to reining in risks at banks would fail to capture the complexity of modern day lenders, a top global regulator said.
LONDON, Oct 24- Brent crude oil steadied around $108 per barrel on Wednesday after a six-day losing streak as weak European data offset earlier strength prompted by signs that Chinese demand could stage a recovery. Manufacturing PMI in Germany, Europe's largest economy, fell unexpectedly, while business sentiment dropped for the sixth consecutive month.
*Economic rot taking root in Germany, France. NEW YORK/ LONDON, Oct 24- Euro zone businesses suffered another dismal month in October as factory output plunged in Germany, the area's top economy and exporter, while conditions improved slightly for U.S. and Chinese manufacturers.
WASHINGTON-- Below is the statement the Federal Reserve released Wednesday after the U.S. central bank's two-day policy meeting:. Information received since the Federal Open Market Committee met in September suggests that economic activity has continued to expand at a moderate pace in recent months.
Feb. 2002- Allied Irish Bank said rogue trader John Rusnak had defrauded its U.S. subsidiary Allfirst of $691 million. July 2006- David Bullen and Vince Ficarra, two former foreign exchange options dealers at National Australia Bank, were jailed after a 2004 scandal that cost NAB A $252 million.
Buffalo Wild Wings Inc.' s shares plunged Wednesday following a disappointing third-quarter financial report from the restaurant chain, and forecast slower profit growth. Buffalo Wild Wings said it expects its earnings to increase 15 percent for 2012 and 20 percent in 2013. That's slower than last year, when the company's net income grew 31 percent.
NEW YORK-- Shares of Total System Services Inc. fell nearly 4 percent Wednesday as analysts said third-quarter results for the electronic payments processor appeared to be in line with expectations but noted some potential negative factors.
WASHINGTON-- Two weeks before a U.S. election focused on the economy, the Federal Reserve said Wednesday that its help is still needed to increase growth and lower unemployment. The Fed took no action after a two-day policy meeting. It wants time to assess whether the aggressive steps it launched in September will help the economy.
LORDSTOWN, Ohio-- President Barack Obama's decision to help America's automakers could end up being what helps drive him back into the White House.
LONDON, Oct 24- Gold rose on Wednesday along with stock markets, helped by well received data from China and an upbeat earnings report from Boeing, while dealers awaited a Federal Reserve policy statement later in the day. Spot gold was up 0.1 percent at $1,709.60 an ounce at 1309 GMT, while U.S. gold futures for December delivery were up 60 cents an ounce at $1,710.