SHANGHAI, May 28- Zhuhai Zhongfu Enterprise Co. Ltd, a Chinese bottle manufacturer, is poised to become the fourth firm to publicly default in China's onshore bond markets today. The firm has not raised sufficient funds to fully repay principal and interest due to investors on May 28, company statements posted on the Shenzhen Stock Exchange website on May 27...» Read More
BAGHDAD-- Iraq abruptly removed the longtime governor of the country's central bank Tuesday after he and other bank officials were targeted in an investigation into alleged financial wrongdoing.
Vikram Pandit stepped down Tuesday as CEO of Citigroup. _ April 2007: Old Lane hedge fund, which Pandit formed a year earlier, is acquired by Citi for $800 million. _ September 2008: Citi announces it will buy the struggling bank Wachovia at the height of the financial crisis.
SHORT CIRCUIT: Short of cash and hurting from weak sales of electric cars, battery maker A123 Systems Inc. filed for bankruptcy protection on Tuesday and quickly sold its automotive assets. Auto parts maker Johnson Controls Inc. will buy the company's automotive business for $125 million.
SALES JUMP: Powered by demand for its cancer drugs, Swiss drugmaker Roche on Tuesday reported a 7 percent increase in sales of its pharmaceutical products for the first nine months of 2012..
NEW YORK-- Forest Laboratories Inc. again cut its annual net income guidance and lowered its sales estimates Tuesday, citing lower sales of its Alzheimer's disease drug Namenda and other products along with greater expenses and higher taxes. Shares of Forest declined 91 cents, or 2.5 percent, to $35.69 in morning trading.
CUTTING THE LINES: Airport security needs a radical overhaul to avoid more disgruntled passengers, longer lines and overwhelmed terminals, airline executives said at a global aviation conference in Abu Dhabi.
NEW YORK-- Propane company AmeriGas Partners LP on Tuesday predicted net income for its current fiscal year that is above Wall Street expectations, if this winter has "normal" weather. For another profit measure that excludes interest expense, income taxes, acquisition costs and other one-time items, AmeriGas now expects $630 to $660 million.
PARIS-- The pace at which countries like Greece and Spain cut their deficits with austerity measures must depend on their economic conditions, International Monetary Fund Managing Director Christine Lagarde said Tuesday.
A fast-growing cadre of Chesapeake Bay oyster farmers are banking on it. York River oysters, grown closer to the mouth of the Chesapeake Bay, are salty-sweet. Maryland officials overseeing the leasing of the waterways are eager to follow the example set in Virginia, which last year sold more than 23 million farmed oysters, up from fewer than 1 million in 2005..
Inflation is low, earnings are high, investors are happy. Results at Mattel, Goldman Sachs, and Johnson& Johnson were all above expectations. Also Tuesday, the Labor Department said consumer prices rose just 0.1 percent last month, not counting food and energy costs.
THE NEWS: Toy maker Mattel said Tuesday that cost cuts and higher revenue from toys including Monster High dolls and Fisher-Price helped send net income up 22 percent in the third quarter. But results indicate that Mattel is outperforming its rivals so far as it heads into the crucial holiday season, when toy makers can earn up to 40 percent of annual revenue.
A source familiar with Super Bowl XLVII told The Associated Press the Grammy-winning diva will take the stage at the halftime show on Feb. 3, 2013, at the Mercedes-Benz Superdome in New Orleans. The 31- year-old sang the national anthem at Super Bowl XXXVIII in 2004 in her hometown of Houston when the New England Patriots defeated the Carolina Panthers.
NEW YORK-- Television ratings for baseball's division series are down from last year. Its two division series broadcasts _ Game 2 of Detroit- Oakland and Game 3 of St. Louis- Washington _ averaged a network-record 1.2 million viewers, whereas two afternoon games on TBS last season averaged nearly twice that. TBS is a unit of Time Warner Inc..
MINNEAPOLIS-- Minnesota Vikings fans expressed strong opinions late Monday about features they want in the team's new stadium, from a retractable roof and more leg room _ to it being shaped like a giant castle.
BOSTON-- The Boston Red Sox are keeping ticket prices unchanged for 2013 after their worst season in nearly 50 years. Individual prices range from $12 for the upper bleachers to $165 for a seat above the Green Monster in left field. The Red Sox went 69-93, missing the playoffs for the third straight year.
SACRAMENTO, Calif.-- The Sacramento Kings will have a new name for their arena. The arena in Sacramento was called Power Balance Pavilion last season but the Kings were looking for a new partner after Power Balance filed for bankruptcy. The Kings' home opener this season is Nov. 5 against the Golden State Warriors.
NEW YORK-- Hall of Famer Bob Knight is selling his championship basketball rings and Olympic gold medal for what he considers a very good reason: the education of his grandchildren.
CHARLESTON, W.Va.-- West Virginia Gov. In September, FEMA approved individual assistance for residents in Fayette, Kanawha, Nicholas and Raleigh counties after Tomblin appealed the agency's initial denial of aid.
FORT WORTH, Texas-- Basic Energy Services, which provides services for oil and gas wells, lowered its third-quarter revenue forecast Tuesday, as some of its September results came in weaker than expected.
The Treasury Department says total foreign holdings rose to a record $5.43 trillion in August. And Japan increased its holdings 0.5 percent to $1.12 billion. Japan now trails China's holdings by just $32.1 billion.