ATHENS, Greece— Greece's new Parliament, elected two weeks ago, has chosen Syriza deputy Nikos Voutsis as its speaker. The 64- year-old Voutsis succeeds 38- year-old Zoe Konstantopoulou, who left Syriza in August after Prime Minister Alexis Tsipras accepted the third bailout deal for heavily-indebted Greece. Awaiting the new Parliament is an intense...» Read More
PITTSBURGH-- The PNC Financial Services Group Inc.' s net income rose solidly in the third quarter, boosted by a one-time gain from a sale of Visa shares and higher fees from corporate clients. The bank's income from interest on loans increased, bucking an industry-wide trend, because PNC acquired RBC Bank since last year's third quarter.
WALTHAM, Mass.-- A123 Systems says a default on some of its debt is likely and it may be heading for bankruptcy protection. There were enormous hopes for A123 when it went public three years ago and shares soared 50 percent to more than $20 on the first day. A123 also got a $249 million government grant to help it build a battery factory in Michigan.
NEW YORK-- Citigroup Inc. says Vikram Pandit is stepping down as CEO and a board member. The New York bank's new CEO will be Michael Corbat, the CEO of the company's Europe, Middle East and Africa division. Pandit says that "now is the right time for someone else to take the helm at Citigroup" after the bank "emerged from the financial crisis as a strong institution."
Johnson& Johnson's third-quarter profit fell 7 percent as litigation and acquisition costs and factory upgrade expenses related to its consumer product recalls offset higher medicine and medical device sales.
NEW YORK-- The Coca-Cola Co. says its net income rose 3 percent in the third quarter, as the world's biggest beverage maker sold more of it drinks around the globe and raised prices. The company says it earned $2.31 billion, or 50 cents per share, for the period ended Sept. 28.
NEW YORK-- Goldman Sachs easily beat analysts' estimates for earnings and revenue in the third quarter. On a per-share basis Goldman earned $2.85, blowing away Wall Street's expectations. Revenue more than doubled, to $8.4 billion from $3.6 billion, and also beat estimates of $7.2 billion.
NEW YORK-- The Coca-Cola Co. says its net income rose 4 percent in the third quarter, as the world's biggest beverage maker sold more of it drinks around the globe and raised prices. The company says it earned $2.31 billion, or 50 cents per share, for the period ended Sept. 28.
DETROIT-- Ford is recalling more than 154,000 Fiesta subcompacts to fix a problem with the side air bags. The company says that if the front passenger seat is empty, the side air bag won't inflate to protect rear-seat passengers in some crashes. They were built in Mexico from Nov. 3, 2009 to Sept. 21, 2012.
ANN ARBOR, Mich.-- Domino's Pizza's fiscal third-quarter net income climbed 18 percent as sales improved in the U.S. and overseas. Domino's reported Tuesday that it earned $26 million, or 44 cents per share. For the period that ended Sept. 9, revenue increased 1 percent to $378.1 million from $376.3 million.
The governor, Sinan al-Shabibi, is seen as a politically independent economist who has led the bank since shortly after the U.S.-led invasion of Iraq in 2003.. Iraqi Integrity Commission spokesman Hassan Karim Aati said it has received documents from a parliamentary committee investigating the allegations and is looking into the matter.
WASHINGTON-- More than 56 million Social Security recipients will soon find out how much their monthly payments will go up next year. The increase is tied to a government measure of inflation being released Tuesday morning. Social Security payments for retired workers average $1,237 a month, or about $14,800 a year.
Mattel and UnitedHealth posted strong results for the third quarter. Goldman Sachs and Johnson& Johnson both beat Wall Street expectations. The Coca-Cola Co. says its net income rose 3 percent.
"We simply can't cope with the expected volume of passengers with the way things are today," said Tony Tyler, director general and CEO of the International Air Transport Association, the airlines' trade group. Tyler spoke at an airlines conference held in Abu Dhabi, the capital of the United Arab Emirates.
DALLAS-- Traffic and average prices both weakened in September, but analysts believe Southwest Airlines still made money in the third quarter. Southwest, which carries the most passengers within the U.S. of any airline, is scheduled to report financial results on Thursday.
ROME-- The embattled governor of Italy's powerful Lombardy region, which includes Milan, has announced the dissolution of the regional legislature as Italy's mounting political corruption scandal claims its biggest victim yet. He has said he would name a technical administration to run Lombardy until early elections.
LONDON-- Mounting hopes over the U.S. economic recovery bolstered markets for a second day on Tuesday and helped push the euro back above $1.30. Strong earnings figures from the likes of toy maker Mattel, Johnson& Johnson and Goldman Sachs, further buoyed sentiment.
ATHENS, Greece-- Greece has raised 1.625 billion in an auction of 13- week treasury bills at a slightly lower rate of 4.24 percent. The Public Debt Management Agency on Tuesday said the rate had dropped from 4.31 percent at the previous such auction on Sept. 18.
WASHINGTON-- Production at U.S. factories, mines and utilities likely showed a gain in September, rebounding after a big drop in August. Factories produced fewer cars and Hurricane Isaac triggered shutdowns along the Gulf Coast. The Institute for Supply Management said that its index of factory activity rose to 51.5.
ARMONK, N.Y.-- IBM Corp.' s third-quarter earnings will provide a glimpse at how well the technology services and business software markets have been holding up amid uncertainty about the global economy and the U.S. presidential election.
UnitedHealth Group's third-quarter net income jumped 23 percent, and the nation's largest health insurer raised its 2012 earnings forecast for the third time this year.