WASHINGTON— Americans were more optimistic about their incomes and personal finances this month, particularly among lower and middle-class households, lifting consumers' outlook. The University of Michigan's consumer sentiment index rose to 91.3 in November from 90 in the previous month. That is close to the average for the past six months of 91.6.» Read More
Bank of America, the country's second-biggest bank, reported Wednesday that mortgage originations jumped over a year ago _ up 18 percent to $21 billion. Bank of America's chief financial officer said Wednesday he thought the housing market had turned, noting that home prices are rising more consistently.
EAST GREENVILLE, Pa.-- Knoll Inc. said Wednesday that its third-quarter net income fell 34 percent as revenue declined on weak demand. The iconic furniture maker reported Wednesday that it earned $12.2 million, or 26 cents per share, for the quarter that ended Sept. 30. That's compared with $18.4 million, or 39 cents per share, in the same quarter last year.
NEW DELHI-- The first woman to lead a Formula One team has another reason to look forward to the Indian Grand Prix next week _ it's in her home country. The 41- year-old Monisha Kaltenborn was promoted from Sauber's chief executive to its team principal last week. Her main focus is ensuring the Switzerland- based team improves on its four podium finishes this season.
The financial overhaul law passed in 2010 called for new oversight of derivatives, the complex investments blamed for hastening the financial crisis, and required the SEC to write the rules.
In the hours after Tuesday's surprise announcement that Citigroup CEO Vikram Pandit was stepping down, speculation was rife, and facts scant, about what lay ahead for the nation's third-largest bank. It trails JPMorgan Chase, with $2.3 trillion, and Bank of America, with $2.1 trillion.
WARSAW, Poland-- Officials in Poland are scrambling to explain why they failed to close the stadium roof and prevent the country's World Cup qualifier with England being postponed by a waterlogged pitch. Heavy rain on Tuesday left pools of water on the field at the $600 million National Stadium, which has a retractable roof.
England defender Ashley Cole is facing an FA fine because of a vulgar tweet. The England team code of conduct spells out how players can be stripped of the captaincy if they are deemed to fail as a "role model," highlighting how the job carries "expectation and responsibility."
NEW YORK-- Shares of Sonic Corp. advanced Wednesday after the company said its net income rose 18 percent in its fiscal fourth quarter, helped by tighter cost controls at its drive-in restaurants. THE SPARK: The Oklahoma City company's earnings beat Wall Street expectations.
CHICAGO-- Houston, San Francisco and South Florida are bidding for the 2016 and 2017 Super Bowls. NFL owners will vote next May between San Francisco _ the 49 ers are building a new stadium in Santa Clara, Calif., _ and South Florida for the 50th Super Bowl in 2016. The loser of that race will then compete with Houston for hosting the 2017 game.
CHICAGO-- The NFL is doubling down on London. The league announced Tuesday that the Minnesota Vikings will host the Pittsburgh Steelers at London's Wembley Stadium on Sept. 29, 2013. This is the first time the NFL will play two regular-season games in London in the same season.
BANGKOK-- Asian stock markets rose Wednesday on better-than-expected earnings from U.S. corporate giants and growing speculation that Spain is finally ready to ask for financial aid.
LOS CABOS, Mexico-- A weakening Tropical Storm Paul swerved away from a landfall on a sparsely populated stretch of Mexico's southern Baja peninsula Tuesday night, brushing the coast with wind and rain as it swirled northward just offshore.
BOSTON-- Two members of Congress have asked the U.S. Department of Justice to investigate whether a specialty pharmacy linked to a nationwide meningitis outbreak violated any federal laws or regulations. FDA spokesman Steven Immergut said the investigators were there as part of a broad investigation by several state and federal agencies into the outbreak.
YOKOSUKA, Japan-- Electronically managed steering that completely bypasses the mechanical link of a clutch is among the new safety technology from Japanese automaker Nissan. Other vehicles are smart enough to park themselves.
RATING CONFIRMED: Moody's Investors Service on Tuesday confirmed its rating on Spain's government debt at "Baa3", its lowest investment-grade rung. OUTLOOK NEGATIVE: The agency, meanwhile, assigned a negative outlook to the rating, signaling that a downgrade is still possible in the coming months.
SANTA'S DETOUR: Intel expects the usual holiday bounce in PC sales to be cut in half this year, due to a confluence of factors. THIRD QUARTER: After cutting its forecast twice, Intel beat expectations. THE OUTLOOK: For the fourth quarter, Intel expects revenue of $13.6 billion, slightly below analyst expectations.
LOWER PROFIT: Apollo Group Inc. reported that its net income fell 60 percent in its fiscal fourth quarter, as the for-profit education company's revenue declined 11 percent amid a sharp drop in student enrollment at University of Phoenix.
HOLDING STEADY: IBM's third-quarter profit of $3.8 billion was unchanged from a year ago. Earnings per share though worked out to $3.33 per share, a gain from $3.19 per share a year ago because IBM Corp. has less stock outstanding now. Revenue also fell 5 percent from the same time last year amid economic weakness in Europe.
SHAREHOLDER SHUTDOWN: Three shareholder proposals aimed at diluting the control of News Corp. by the family of Rupert Murdoch were defeated Tuesday, but a couple proposals had significant support from independent shareholders.
LOS ANGELES-- News Corp. managed to avoid rowdy protests at its annual shareholders meeting Tuesday, but that didn't stop stockholders from voicing complaints about the grip on the company held by founder and CEO Rupert Murdoch and his family.