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  • Eric Clapton's Richter sells for $34.2 million Friday, 12 Oct 2012 | 4:51 PM ET

    LONDON-- A Gerhard Richter painting owned by Eric Clapton has sold for 21.3 million pounds, handily beating pre-sale estimates and setting a new auction record for the German abstract artist.

  • Countries ranked by gov't debt as percent of GDP Friday, 12 Oct 2012 | 4:42 PM ET
  • Losses in Conn. fraud could total $600 million Friday, 12 Oct 2012 | 4:42 PM ET

    HARTFORD, Conn.-- Documents filed in the criminal case against a Venezuelan-American financier say losses from a Connecticut- based fraud scheme could total as much as $600 million.

  • Southern California home prices rise in September Friday, 12 Oct 2012 | 4:41 PM ET

    SAN DIEGO-- Southern California home prices posted a sixth straight annual increase in September as buying shifted to more expensive houses along the coast and the supply of heavily discounted foreclosed properties dwindled, a research firm reported Friday.

  • Industry sues over NYC crackdown on sugary drinks Friday, 12 Oct 2012 | 4:38 PM ET

    NEW YORK-- Soda makers, restaurateurs and other businesses sued Friday to try to block the city's unprecedented move to restrict sales of super-sized, sugary drinks, an effort the city called a coup for public health but the industry views as unfair and undemocratic.

  • On the Call: Wells Fargo CEO John Stumpf Friday, 12 Oct 2012 | 4:21 PM ET

    Wells Fargo said Friday that its third-quarter net income and revenue rose as the bank increased consumer lending and collected more fees. In a call with analysts, Wells Fargo Chairman, President and CEO John Stumpf explained why interest income might not be such a grave threat.

  • Earnings Preview: Mattel to report 3Q results Friday, 12 Oct 2012 | 4:13 PM ET

    NEW YORK-- Analysts expect that Mattel Inc.' s third-quarter net income and revenue to rise as shoppers snap up its Monster High and Barbie dolls, among other toys, ahead of the busy holiday season.

  • Stock market has its worst week since June Friday, 12 Oct 2012 | 4:11 PM ET

    Major indexes closed little changed on Wall Street Friday. Banks fell after Wells Fargo missed analysts' revenue estimates. Falling stocks outnumbered rising ones nearly two-to-one on the New York Stock Exchange.

  • News Summary: Investors mull candidates' tax plans Friday, 12 Oct 2012 | 3:57 PM ET

    CHANGE INEVITABLE: With the outcome of next month's presidential election increasingly hazy, here's a shred of clarity that investors can cling to: The tax rates they pay on investment income like stock profits and dividends are almost certain to change.

  • Ninetowns shares jump after CEO-led buyout offer Friday, 12 Oct 2012 | 3:53 PM ET

    NEW YORK-- Shares of China's Ninetowns Internet Technology Group Co. jumped on Friday after the company said it had received a preliminary, non-binding proposal from a group including the chief executive to take the company private.

  • How would candidates' tax plans affect investors? Friday, 12 Oct 2012 | 3:52 PM ET

    WASHINGTON-- With the outcome of next month's presidential election increasingly hazy, here's a shred of clarity that investors can cling to: The tax rates they pay on investment income like stock profits and dividends are almost certain to change.

  • News Summary: Wheat falls on weekend rain forecast Friday, 12 Oct 2012 | 3:48 PM ET

    AG DRAIN: Wheat prices fell 3.3 percent as weekend storms are expected to deliver much-needed moisture to fields in part of the growing region. SLUGGISH OIL: Oil prices fell after the International Energy Agency predicted a slower pace of growth in demand over the next five years.

  • Ranking countries by their government debt to GDP Friday, 12 Oct 2012 | 3:34 PM ET
  • US budget deficits, and 1 surplus, dating to 2001 Friday, 12 Oct 2012 | 3:27 PM ET
  • Wheat falls on forecast for rain in the Midwest Friday, 12 Oct 2012 | 3:24 PM ET

    Wheat for December delivery fell 29.25 cents to finish at $8.5675 per bushel. The weekend rains are expected to help winter wheat crops that have been plagued by dry weather in western Kansas, western Nebraska and eastern Colorado.

  • XenoPort extends slump after analyst's downgrade Friday, 12 Oct 2012 | 3:24 PM ET

    NEW YORK-- Shares of XenoPort Inc. fell Friday after a Piper Jaffray analyst downgraded the stock, saying the company's experimental multiple sclerosis drug is years away from marketing approval or a development partnership.

  • DiamondRock 3Q results improve, cuts 2012 forecast Friday, 12 Oct 2012 | 3:23 PM ET

    BETHESDA, Md.-- DiamondRock Hospitality's fiscal third-quarter results improved as room rates climbed, but the company lowered its 2012 adjusted funds from operations forecast and issued fourth-quarter guidance below Wall Street's view.

  • Paris prosecutor opens preliminary probe into LVMH Friday, 12 Oct 2012 | 3:21 PM ET

    PARIS-- The Paris prosecutor's office says it has opened a preliminary investigation into scarf and bag maker Hermes' claim that luxury giant LVMH Moet Hennessy Louis Vuitton engaged in insider trading and share manipulation when it took a stake in its rival.

  • Dollar Tree shares fall on downgrade Friday, 12 Oct 2012 | 3:14 PM ET

    NEW YORK-- Shares of discount store chain Dollar Tree fell on Friday after an analyst downgraded the stock on weakening sales trends. THE SPARK: Jefferies analyst Daniel Binder said in a note to investors that revenue in stores open at least one year, a key retail metric, have been decelerating at Dollar Tree.

  • News Summary: Wells Fargo net income rises in 3Q Friday, 12 Oct 2012 | 3:11 PM ET

    TOP- LINE GAINS: Wells Fargo posted record earnings in the third quarter. Wells' net income in the quarter ended Sept. 30 rose 23 percent, to $4.72 billion from $3.84 billion in the same period last year. New mortgage loan originations rose to $139 billion from $89 billion in last year's third quarter.