TOKYO— Chinese stocks led a slump in Asian markets on Wednesday as the sell-off in Shanghai intensified and Greece's future in the euro remained highly uncertain. Other regional markets were also down, including Taiwan, Singapore, Australia and the Philippines. ANALYST TAKE: " Greece and China dominate once again, but throw in massive falls in bulk and base metals...» Read More
KANSAS CITY, Mo.-- Kansas City Southern said Friday that its third-quarter net income fell 9.8 percent, hurt by tough comparisons to a prior-year period boosted by a hefty one-time gain. The Kansas City, Mo.- based railroad earned $90 million, or 82 cents per share, down from $99.8 million, or 91 cents per share, in the same quarter last year.
FAST TRACK: Test runs started zooming along a section of the Amtrak line between Chicago and St. Louis at 111 mph Friday. The 30- mph increase from the route's current top speed is a morale booster for advocates of high-speed rail.
BANK OVERSIGHT: European leaders took a step toward creating a single supervisor next year for banks in countries that use the euro on Friday, but they refused to pin down a start date.
NEW ORLEANS-- Dwayne Boudreaux's memories of the Circle Food Store in New Orleans 7th Ward neighborhood are so vivid he can walk through its colonnade of arches into the dark and empty shell and give a guided tour of how it was before Hurricane Katrina.
PITTSBURGH-- The state Public Utility Commission says a western Pennsylvania township must revise its oil and gas land-use rules by Nov. 28 or face losing money from a new drilling impact fee.
SACRAMENTO, Calif.-- Compensation for medical providers in California's prison system has soared since a federal judge seized control of inmate health care in 2006 and established a receivership with the power to hire and set pay levels.
GUNS GUNS GUNS: An analysis by The Associated Press of data tracking the health of the gun industry shows that President Barack Obama has presided over a heyday for guns. WHAT'S HAPPENED: Sales are on the rise, so much that some manufacturers cannot make enough fast enough.
NEW YORK-- News Corp. said Friday that Fox News chief executive Roger Ailes has signed a new four-year contract. Ailes, 72, first joined News Corp. in 1996. He will continue to oversee Fox News, the Fox Business Network, the Fox TV stations, Twentieth Television and MyNetwork TV.
On the New York Mercantile Exchange:. _ Benchmark crude fell $2.05 to end at $90.05 per barrel. _ Heating oil fell 5.21 cents to end at $3.1345 per gallon.
Benchmark oil fell $2.05 to finish at $90.05 per barrel in New York. Brent crude, which is used to price international varieties of oil, dropped $2.28, or 2 percent, to end at $110.14 per barrel in London. Several companies delivered weaker-than-expected third-quarter results, including Microsoft and McDonald's.
LOS ANGELES-- Shares of HGTV and Food Network owner Scripps Networks Interactive Inc. rose nearly 6 percent before giving back most of the gains on Friday after the death of a grandson of founder Edward W. Scripps prompted speculation that the family might sell its controlling stake.
PITTSBURGH-- A former Pittsburgh Steelers doctor and his defense attorney declined to comment at his initial federal court appearance on illegal steroid-distribution and other charges. Richard Rydze to be jailed over the weekend until another appearance Monday.
The order is taking shape as the Obama administration voices growing concern that Iran could be the first country to use cyberterrorism against the United States. The White House declined to say when the president will sign the order. Congress failed this summer to pass cybersecurity legislation.
FRIENDLY SKIES: It's been 43 months since the last deadly airline crash in the U.S., the longest such period since after World War II. Federal rules assign a value of $6.2 million to each life saved. SLEEPY PILOTS: Last year, the FAA revised rules on pilot work schedules to address concerns that tired pilots were making mistakes, sometimes with fatal results.
Caterpillar Inc. reports quarterly financial results. Hasbro Inc. reports quarterly financial results. Peabody Energy Corp. reports quarterly financial results.
Microsoft, McDonald's and General electric all fell sharply after reporting disappointing results for the third quarter.
WASHINGTON-- Tennessee lawyer Brian Manookian says he never considered himself a gun enthusiast. He owns just one handgun and was raised in a gun-free home. An analysis by The Associated Press of data tracking the health of the gun industry shows that President Barack Obama has presided over a heyday for guns.
SALES DIP: U.S. home sales dropped 1.7 percent in September to a seasonally adjusted annual rate of 4.75 million, the National Association of Realtors said. That's down from a rate of 4.83 million in August, which was the highest in more than two years. UPWARD TREND: Sales are up 11 percent from a year earlier, a sign of the housing market's steady recovery.
NEW YORK-- Shares of Biogen Idec Inc. continued to slump Friday after the company said the Food and Drug Administration has delayed a decision on its multiple sclerosis pill BG-12.
Texas- based oilfield services company Baker Hughes Inc. reported Friday that 1,410 rigs were exploring for oil and 427 were searching for gas. A year ago, Baker Hughes listed 2,013 rigs. Of the major oil- and gas-producing states, Alaska gained five rigs while Arkansas, Colorado and North Dakota rose by two each.