In September, German prosecutors searched offices and residences linked to Maple Bank in a probe of serious tax evasion and money laundering connected to so called dividend stripping trades. Bafin said in a statement that once Maple Bank made some necessary tax provisions, over-indebtedness loomed. German daily Sueddeutsche Zeitung reported on Sunday...» Read More
AUGUSTA, Maine-- Maine finance officials are giving some dreary fiscal news to lawmakers, but also point to some positive trends that could brighten the picture.
JOLIET, Ill.-- An Amtrak passenger train has reached a speed of 110 mph for the first time in Illinois. The five-car, two-locomotive train zipped through the central Illinois countryside, hitting its high speed between the towns of Dwight and Pontiac.
General Electric reported strong profit growth in the third quarter, but revenue was below expectations and investors were concerned about the company's tepid growth forecast for 2013..
MILWAUKEE-- Sensient Technologies' net income grew 3 percent in the third quarter but results weighed down by a strong dollar. Sensient, which makes colors, flavors and scents for food, cosmetics and ink, narrowed its full-year guidance, but still expects net income consistent with Wall Street expectations.
NASHVILLE, Tenn.-- Japanese automaker Nissan Motor Co. announced Friday it will add a third shift at a vehicle assembly plant in Tennessee, adding more than 800 jobs. "Nissan and Tennessee have enjoyed a long and successful partnership, and this announcement shows the strength of the company and the market demand for its products," Haslam said in a statement.
SACRAMENTO, Calif.-- California's jobless rate fell to from 10.6 to 10.2 percent in September in what may be the largest drop in 36 years, the state announced Friday. The numbers from the Employment Development Department show the largest tumble in the monthly unemployment rate since 1976, said Kevin Callori, a spokesman for the department.
BATON ROUGE, La.-- Technology and engineering firm The Shaw Group Inc. said Friday that it turned a profit in its fiscal fourth quarter. In the recent quarter Shaw agreed to be acquired by Chicago Bridge& Iron NV for about $3.2 billion. In the quarter ended Aug. 31, Shaw Group earned $113.2 million, or $1.68 per share.
AUSTIN, Texas-- The Texas unemployment rate has fallen sharply to 6.8 percent in September, down from 7.1 percent in the largest one-month drop in nearly 30 years. The Texas Workforce Commission said Friday that the state added 21,000 nonfarm jobs, led by a gain of 13,600 jobs in professional and business services.
AUGUSTA, Maine-- The Maine Labor Department says the preliminary unemployment rate for September was 7.6 percent, down slightly from August's 7.7 percent. Figures released Friday are adjusted to reflect seasonal fluctuations in the labor market.
WASHINGTON-- The unemployment rate in the nation's capital continues to decline. District of Columbia officials say preliminary September estimates show an 8.7 percent jobless rate, down from 8.8 percent in August.
Bank of America was the best performer, improving its key capital ratio under Basel III rules by more than 1 percent, to 8.97 percent, Fitch said. To do so, Bank of America reduced riskier securities held in its portfolio. JPMorgan Chase improved the same ratio by a half-percentage point, reducing its riskier assets by $21 billion.
LINCOLN, Neb.-- Nebraska's unemployment rate dropped to 3.9 percent in September, a tenth of a percentage point under the August and July figure of 4 percent, the state Labor Department said in a report released Friday. Only North Dakota's September rate of 3 percent was lower than Nebraska's. Unemployment in the state's largest city, Omaha, dropped to 3.8 percent.
NEW YORK-- Lowe's is seeking to hire two senior level executives that could play a role in its CEO succession plan. The No. 2 home improvement retailer is looking for a chief merchandising officer and a head of supply chain, two positions left vacant since Lowe's reorganized in May.
DENVER-- Colorado's unemployment rate decreased to 8 percent in September, down two-tenths of a percentage point from August's unemployment rate of 8.2 percent.
MONTPELIER, Vt.-- The Vermont Department of Labor says the state's unemployment rate ticked up one-tenth of a percent last month to 5.4 percent, the fourth straight monthly increase.
The state Department of Job and Family Services said Friday that seasonally adjusted joblessness in Ohio was 7 percent in September, down from 7.2 percent in August. The number of unemployed Ohio workers fell by about 7,000, from 413,000 in August to 406,000 last month.
PITTSBURGH-- A former Pittsburgh Steelers doctor who left the team after investigators questioned his bulk purchase of anabolic steroids has been indicted for illegally prescribing the muscle-building aids and other drugs.
MILWAUKEE-- ManpowerGroup's third-quarter net income fell 21 percent as the staffing company's results continue to be pressured by softer foreign currencies. For the three months ended Sept. 30, ManpowerGroup earned $63.1 million, or 79 cents per share, down from $79.6 million, or 97 cents per share, in the prior-year period.
CONCORD, N.H.-- The federal government has begun soliciting bids for the construction of a Jobs Corps Center in Manchester, N.H., three years after the project was stalled by contract language that would have required the facility to be built by union labor.