SHANGHAI, Aug 28- China's yuan was barely changed against the dollar on Thursday, moving in a narrow range after the central bank set its daily midpoint rate nearly flat. Traders said the generally flat midpoint fixings of late signaled the PBOC's intention to hold the yuan steady, as growth of the world's second-largest economy appears to be faltering again.» Read More
LOS ANGELES-- A Los Angeles judge has dismissed a defamation lawsuit brought by former UCLA player Reeves Nelson against Time Inc., the parent company of Sports Illustrated, and a reporter who wrote a story about problems in the school's basketball program.
SHELTON, Conn.-- Electrical products maker Hubbell Inc. said Thursday that its third-quarter net profit rose 6 percent, as residential construction and lighting sales gained strength. The Shelton, Conn., company said it earned $87.1 million, or $1.45 per share in the three months ended Sept. 30. That compared with $82.4 million, or $1.37 per share, a year earlier.
NEW YORK-- The Big East and The Madison Square Garden Co. have agreed to a multiyear extension of their contract that will keep the conference's postseason tournament in New York City. Madison Square Garden has been the home of the Big East tournament since 1983, making it the longest running conference tournament held at the same site in college basketball.
LANSING, Mich.-- Authorities say Michigan's seasonally adjusted unemployment rate fell 0.1 percentage point in the latest month to 9.3 percent. The Michigan Department of Technology, Management and Budget released the September jobless figures Wednesday.
GREENVILLE, S.C.-- A $1 million bond is set for a man charged as part of a multi-million dollar Ponzi scheme in Upstate South Carolina. Court records show a federal judge in Greenville set the bond Wednesday for 60- year-old Wallace Lindsey Howell.
CHARLESTON, S.C.-- South Carolina Gov. Hotel room occupancy in South Carolina through August was up more than 3 percent compared to last year while revenue per available room, a key indicator of the health of the industry, is up approaching 8 percent. "What it should tell people across South Carolina is that you don't need to go anywhere.
Daniels and other state officials on Wednesday marked the early completion of payments on 10 state facilities by ceremonially burning the mortgage paperwork in a trash can outside the Statehouse.
BYE, PAPER: Newsweek announced Thursday that it plans to end its print publication and shift to an all-digital format in early 2013. Newsweek's last U.S. print edition will be its Dec. 31 issue. HELLO, DIGITAL: The online publication will be called Newsweek Global and will be a single, worldwide edition that requires a paid subscription.
ST. PETERSBURG, Fla.-- Jabil Circuit Inc. said Thursday that it's promoting its chief operating officer, Mark Mondello, to CEO, and its current chief executive is set to become chairman. The board's current chairman, William Morean, is retiring and will not stand for re-election to the board. Jabil shares fell 46 cents, or 2.6 percent, to close at $17.26 Thursday.
CLEVELAND-- KeyCorp's net income rose in the third quarter, as the regional bank operator generated more revenue from fees and interest on loans. The results beat analysts' expectations, and KeyCorp stock gained in morning trading. KeyCorp's total revenue rose 2 percent, to $1.12 billion from $1.04 billion in the same period a year earlier.
SAN JOSE, Calif.-- Microchip maker Cypress Semiconductor Corp.' s third-quarter net income fell 64 percent as revenue dropped, but called the results a "good quarter in tough times." The company said Thursday that it earned $14.3 million, or 9 cents per share, in the July-September period.
Stocks are opening mostly lower, breaking a four-day winning streak for the Dow Jones industrial average, following a leap in claims for unemployment benefits and a mixed batch of corporate earnings reports. The Labor Department reported that applications for unemployment benefits jumped last week to the highest level in four months.
Here is a summary of earnings reports from AMR Corp., parent of American Airlines, and Southwest Airlines Co.. Southwest Airlines posted a profit of 2 cents per share, compared with a loss of 18 cents a year earlier. CEO Gary Kelly told CNBC that Southwest saw some "softness" in business travel and that demand weakened in September.
NEW YORK-- Grocery store operator Supervalu lost money in its latest quarter, but the struggling company said it is in active discussions with several parties over a possible deal. Supervalu fired its CEO in July, replacing him with Chairman Wayne Sales to lead its turnaround effort.
ROCKVILLE, Md.-- Shares of Novavax Inc. surged in premarket trading, after the company said an experimental vaccine for bird flu appeared safe and effective in early-stage testing. Novavax said preliminary results from two studies enrolling 666 adults showed no serious side effects related to the vaccine.
CHARLESTON, W.Va.-- Federal inspectors must share the blame _ and therefore face a lawsuit _ for a 2006 West Virginia coal mine fire that killed two miners, a lawyer for their widows argued at the state Supreme Court on Wednesday.
WICHITA, Kan.-- Hawker Beechcraft says it will no longer pursue the sale of its operations to Chinese-based Superior Aviation Beijing Co.. The Wichita plane-maker announced Thursday that the company protected itself during the exclusive talks by obtaining a $50 million non-refundable deposit that is now the property of the company.
HOUSTON-- Diamond Offshore Drilling Inc. said Thursday its third-quarter profit tumbled 30 percent from a year ago, as rig revenue and drilling activity declined. The Houston- based contract driller said its net income for the three months ended Sept. 30 fell to $178.2 million, or $1.28 per share, from with $256.9 million, or $1.85 per share, a year earlier.