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  • Oil price drops near $86; pump prices down again Tuesday, 23 Oct 2012 | 12:44 AM ET

    Benchmark oil dropped $2.32, or 2.6 percent, to $86.29 in afternoon trading in New York. The national average for a gallon of regular gasoline dropped 2 cents overnight to $3.65. That's why gasoline futures have plunged 12 percent in less than two weeks, including a 6- cent drop Tuesday to $2.59 per gallon.

  • WHY IT MATTERS: Labor unions Tuesday, 23 Oct 2012 | 12:40 AM ET

    A unionized job once meant a secure path to a middle-class life. President Barack Obama has signed a series of executive orders that encourage the use of union labor in federal construction projects, ease union financial reporting requirements and more.

  • Stocks are hammered by weak earnings reports Tuesday, 23 Oct 2012 | 12:39 AM ET

    NEW YORK-- Nobody was expecting this earnings season to be great. Stocks plunged Tuesday, making it one of the worst days on Wall Street so far this year and sending the major indexes to their lowest levels since early September. That was June 1, the day the government released an ominously weak jobs report.

  • Anixter 3Q adj. profit meets analysts' estimates Tuesday, 23 Oct 2012 | 12:38 AM ET

    GLENVIEW, Ill.-- Security products distributor Anixter International said Tuesday that its net income dropped 53 percent in the third quarter mostly because of impairment and inventory charges. The Glenview, Ill., company earned $20.5 million, or 61 cents per share, compared with $43.5 million, or $1.26 per share, a year earlier.

  • WHY IT MATTERS: Income inequality Tuesday, 23 Oct 2012 | 12:37 AM ET

    And it sparked the Wall Street protests that spread to other cities in the country. President Barack Obama would raise taxes on households earning more than $250,000 a year, plus set a minimum tax rate of 30 percent for those who earn $1 million or more.

  • South Dakota cattle on feed down from a year ago Tuesday, 23 Oct 2012 | 12:35 AM ET

    SIOUX FALLS, S.D.-- South Dakota feedlots with capacities of 1,000 or more head had 195,000 cattle on feed for the slaughter market as of Oct. 1. The Agriculture Department says the inventory is down 10,000 head over the year but up 10,000 head over the month.

  • News Summary: NY top court says lap dance taxable Tuesday, 23 Oct 2012 | 12:34 AM ET

    NOT ART: Lap dances are taxable because they don't promote culture in a community the way ballet or other artistic endeavors do, New York's highest court concluded Tuesday in a sharply divided ruling.

  • *Gentex 3Q net income falls, revenue dips Tuesday, 23 Oct 2012 | 12:29 AM ET
  • UPS says consumers driving shipping growth Tuesday, 23 Oct 2012 | 12:28 AM ET

    UPS said it predicts earnings of $4.55 to $4.65 per share, compared with its earlier forecast of $4.50 to $4.70. The new outlook indicates that earnings in the fourth quarter will exceed Wall Street expectations. For the three months ending in September, United Parcel Service Inc.' s net income fell 56 percent to $469 million, or 48 cents per share.

  • Peabody shares fall on Goldman Sachs downgrade Tuesday, 23 Oct 2012 | 12:28 AM ET

    Peabody Energy Corp.' s shares fell in trading Tuesday after a Goldman Sachs analyst downgraded his rating on the coal company after a recent rally in its stock price.

  • Recall news Tuesday, 23 Oct 2012 | 12:27 AM ET

    DETAILS: JELD-WEN and Reliabilt Interior Bifold Doors manufactured by JELD-WEN, Inc. of Klamath Falls, Ore.; sold at Home Depot, Lowe's and other retailers between February 2011 and March 2012. The interior bifold doors were manufactured in the United States.

  • Penney offers free family portraits for holidays Tuesday, 23 Oct 2012 | 12:24 AM ET

    J.C. Penney Co. said Tuesday that for the entire month of November families can have a portrait done for free. The free portrait service is available at 530 Penney stores that have portrait studios. Penney operates more than 1,100 stores.

  • WHY IT MATTERS: Civil Rights Tuesday, 23 Oct 2012 | 12:23 AM ET

    In areas such as mortgages, voter identification and immigration enforcement, the presidential candidates differ over how to use laws that guarantee equality and how far the Justice Department's civil rights division, which exerts strong influence on issues of race and ethnicity, should go to ensure all Americans are treated fairly.

  • Gates' give $500,000 in support of gay marriage Tuesday, 23 Oct 2012 | 12:20 AM ET

    OLYMPIA, Wash.-- Bill and Melinda Gates have donated $500,000 to the campaign to uphold Washington state's gay marriage law. The donation was announced Tuesday by Washington United for Marriage, which is working to approve Referendum 74. The donation was made on Oct. 15, but didn't publicly post online with the Public Disclosure Commission until Tuesday.

  • MicroStrategy shares fall on management shakeup Tuesday, 23 Oct 2012 | 12:19 AM ET

    NEW YORK-- Shares of MicroStrategy Inc. fell Tuesday after the business software company shuffled its managerial ranks, prompting at least one analyst to cut his rating for the company.

  • Sector Snap: Analyst lowers hospital estimates Tuesday, 23 Oct 2012 | 12:18 AM ET

    NEW YORK-- A Raymond James analyst lowered his third-quarter estimates for three hospital operators on Tuesday, saying it looks like patient admissions will be lower than he expected.

  • Manchester United to open office in United States Tuesday, 23 Oct 2012 | 12:17 AM ET

    LONDON-- Manchester United will open an office in the United States to target commercial sponsors. Vice chairman Ed Woodward said Tuesday the record 19- time English champions will open the office on the East Coast as they look to raise more cash to reduce the club's debt.

  • Israel's premier vows to build in Jerusalem Tuesday, 23 Oct 2012 | 12:15 AM ET

    JERUSALEM-- Israel's prime minister vowed Tuesday to continue building in a contested Jerusalem district, just days after European Union criticism of Jewish housing there. Netanyahu said Jerusalem is " Israel's eternal capital" during the visit to Gilo and said Israel has every right to build there.

  • Rodriguez's celeb friends kick off Kohl's launch Tuesday, 23 Oct 2012 | 12:12 AM ET

    Perhaps that's why famous pals Katie Holmes and Julianna Margulies joined Narciso Rodriguez as he launched a limited-edition collection with a more affordable national retailer. Holmes walked the red carpet at the launch party Monday in New York for Rodriguez's line for Kohl's Corp..

  • Regions Financial shares drop as yields shrink Tuesday, 23 Oct 2012 | 12:11 AM ET

    BIRMINGHAM, Ala.-- Regions Financial Corp. on Tuesday posted sharply higher third-quarter earnings, as the regional bank set aside less cash to cover loan losses. Regions reported net income of $301 million, or 21 cents per share, for the three months ended Sept. 30.