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  • Obama promotes positive signs in housing market Saturday, 20 Oct 2012 | 6:12 AM ET

    WASHINGTON-- Eager to take note of signs of recovery, President Obama is drawing attention to improvements in the housing industry while keeping up pressure on Republicans to back policies the White House says would help struggling homeowners refinance their debts.

  • Report: Indian gov't suspends Kingfisher license Saturday, 20 Oct 2012 | 5:41 AM ET

    NEW DELHI-- A news report says the Indian government has suspended the license of Kingfisher Airlines which has been struggling to resume flights following a strike by pilots and engineers who have not been paid for months. Kingfisher, once one of India's best airlines, is battling for a lifeline with India's airline regulator.

  • Questions for Medicare in meningitis outbreak Saturday, 20 Oct 2012 | 4:00 AM ET

    WASHINGTON-- Medicare is coming under scrutiny in the meningitis outbreak that has rekindled doubts about the safety of the nation's drug supply. In 2007, Medicare revoked coverage of compounded inhaler drugs for lung disease.

  • Unions focus more on state and local races Saturday, 20 Oct 2012 | 3:28 AM ET

    WASHINGTON-- Unions are shifting more of their political resources to state and local races this year as they try to head off passage of laws that could undermine bargaining rights, make it harder to organize or reduce their political muscle. In Maine and Minnesota, labor leaders hope to overturn Republican majorities in state legislatures.

  • Macau's SJM Holdings gets land deal for new casino Saturday, 20 Oct 2012 | 2:07 AM ET

    HONG KONG-- Casino operator SJM Holdings says it has signed a deal to buy land for a new casino in Macau, the world's biggest gambling market, giving it a chance to catch up with its rivals' rapid expansion. The company operates 20 casinos already in Macau but most are small.

  • SKorea picked to host $100B global climate fund Saturday, 20 Oct 2012 | 12:49 AM ET

    SEOUL, South Korea-- South Korea says it has been chosen to host a new U.N. climate fund that aims to channel $100 billion a year in aid to developing nations. Seoul's Finance Ministry says the decision was made Saturday in a vote by the fund's 24- member board in Songdo, South Korea.

  • Canada blocks Petronas' bid for Progress Energy Saturday, 20 Oct 2012 | 12:48 AM ET

    TORONTO-- Canada has blocked the Malaysian state-owned oil firm Petronas' US $5.2 billion bid for gas producer Progress Energy Resources, saying the proposed investment would not provide a net benefit to Canada. "Canada has a long-standing reputation for welcoming foreign investment.

  • Correction: Nike-Endorsements story Saturday, 20 Oct 2012 | 12:18 AM ET

    In a story about athletes and corporate endorsements, The Associated Press erroneously described an endorsement by Gabrielle Douglas, the Olympic gymnast. Nike forgave Tiger Woods after he apologized for cheating on his wife.

  • Earnings Preview: Delta Air Lines to report for 3Q Friday, 19 Oct 2012 | 7:28 PM ET

    On Thursday, Southwest Airlines said demand _ and pricing _ for business travelers grew weaker in September. Revenue seemed to be rebounding this month, Southwest said. But nothing quite says "ka-ching" like $981 for a short-notice round-trip ticket from Minneapolis to New York.

  • 3 bank failures bring US 2012 total to 46 Friday, 19 Oct 2012 | 7:26 PM ET

    WASHINGTON-- Regulators on Friday closed two small banks in Florida and one in Missouri, bringing to 46 the number of U.S. bank failures this year. The Federal Deposit Insurance Corp. seized GulfSouth Private Bank and First East Side Savings Bank, both in Florida. Regulators also shuttered Excel Bank in Missouri.

  • Popular's Q3 profit up 71 pct. Friday, 19 Oct 2012 | 7:20 PM ET

    SAN JUAN, Puerto Rico-- Popular Inc., which operates Banco Popular and other banks in Puerto Rico and the U.S., said Friday its third-quarter profit jumped 71 percent amid continued stable revenue and declining bad loans. Popular reported net income of $47.2 million, or 45 cents per share, in the July-September quarter.

  • Protesters riot over law on Panama duty-free zone Friday, 19 Oct 2012 | 7:08 PM ET

    PANAMA CITY-- Anti-riot police used tear gas and fired into the air to disperse protesters in the Caribbean city of Colon who rioted Friday over a new law allowing the sale of state-owned land in the duty-free zone next to the Panama Canal.

  • Bank failures in Florida brings 2012 total to 45 Friday, 19 Oct 2012 | 7:06 PM ET

    WASHINGTON-- Regulators say they have closed two small banks in Florida, bringing to 45 the number of U.S. bank failures this year. The Federal Deposit Insurance Corp. seized GulfSouth Private Bank, based in Destin, and First East Side Savings Bank, based in Tamarac. GulfSouth had about $159.1 million in assets and $151.1 million in deposits as of June 30.

  • GE Aviation wins $349 million Air Force contract Friday, 19 Oct 2012 | 6:22 PM ET

    CINCINNATI-- The U.S. Air Force said Friday it has awarded a $349.7 million contract to General Electric Co.' s aviation division to help develop new aircraft engines with longer range and better performance. The work is expected to be completed by Sept. 30, 2016, and will be used on aircraft after 2020..

  • American Greetings board to consider buyout Friday, 19 Oct 2012 | 6:17 PM ET

    The deal would value American Greetings at around $581 million. American Greetings' shares fell 7 cents to close at $16.99 Friday. American Greetings' brands include Carlton Cards, Recycled Paper Greetings and Papyrus.

  • United Technologies gets $335M Air Force contract Friday, 19 Oct 2012 | 6:10 PM ET

    NEW YORK-- The Defense Department said Friday that United Technologies Corp. received a $335 million contract with the Air Force. United Technologies is receiving orders for the Air Force's Adaptive Engine Technology Development Program. Shares of United Technologies lost $1.24 to close at $77.99 amid a broad market decline.

  • Edwards Lifesciences lowers 2012 income guidance Friday, 19 Oct 2012 | 5:55 PM ET

    IRVINE, Calif.-- Edwards Lifesciences Corp. lowered its annual net income guidance on Friday, as it announced third-quarter results, citing disappointing sales of its Sapien heart valve.

  • Billionaire drops proxy fight against Wynn Resorts Friday, 19 Oct 2012 | 5:45 PM ET

    LAS VEGAS-- A Japanese billionaire has dropped his campaign to win seats for his allies on the board of Wynn Resorts Ltd., ending a chapter in a feud with casino mogul CEO Steve Wynn. It was a legal setback for Okada, a former Wynn friend and business partner, who once was Wynn Resorts' single largest shareholder.

  • News Summary: Bad weather a boon for Wash. apples? Friday, 19 Oct 2012 | 5:19 PM ET

    CRAZY WEATHER: Warm spring weather in the Northeast and Midwest tricked apple trees into budding early this year, and then a late frost damaged the blossoms. CROPS CRIMPED: Crops in apple-producing states like New York and Michigan shrank, falling off as much as 90 percent.

  • Bank failure in Florida brings 2012 total to 44 Friday, 19 Oct 2012 | 5:16 PM ET

    The Federal Deposit Insurance Corp. seized GulfSouth Private Bank, based in Destin, Fla.. The failure of GulfSouth Private Bank, which had four branches, is expected to cost the deposit insurance fund $36.1 million. GulfSouth Private Bank is the sixth FDIC- insured institution in Florida to fail this year.