A British vote to leave the European Union would hit large German banks, the head of German financial watchdog Bafin said. » Read More
COSTA MESA, Calif.-- Hyundai Motor America said Tuesday that U.S. vehicle sales rose 15.3 percent in September, as rising sales of its Elantra sedan overcame a decline in its other big seller, the Sonata. BY THE NUMBERS: Hyundai sold 660,025 vehicles last month, up from 52,051 a year earlier.
CHERRY HILL, N.J.-- Subaru of America Inc. said Tuesday that U.S. sales rose 32 percent in September on strong gains for the Outback wagon and the Legacy sedan. BY THE NUMBERS: The Japanese automaker said sales rose to 27,683 in September, from 20,934 a year earlier. TOP SELLER: The company sold 10,583 Outbacks, an increase of 39.1 percent from a year ago.
NEW YORK-- Shares of Fifth& Pacific slid Tuesday after the clothing maker cut its guidance due to weak sales of Juicy Couture. Moody's Investors Service said the guidance cut is bad for Fifth& Pacific's credit, but said it is not making any immediate changes to its ratings. Moody's currently has a "B2" rating on Fifth& Pacific.
NEW YORK-- Stocks are struggling to a mixed close on Wall Street after spending most of the day lower, pulled down by weakness in materials and energy companies. Mosaic blamed poor demand from China and India. Rising stocks narrowly outnumbered falling ones on the New York Stock Exchange.
NEW YORK-- It's not even Halloween yet, but once again a slew of forecasters are out with sales predictions for the all-important holiday shopping season. Economists carefully study the numbers because they're an important gauge for merchants that depend on the period for up to 40 percent of their annual sales.
BUILDING FENCES: European bankers were urged to build a firewall between their retail operations and their riskier trading activities and be prepared to shoulder some losses when their banks fail, according to a report requested by the European Union to help head off another financial crisis.
CINCINNATI-- Laser eye surgery provider LCA-Vision Inc. said Tuesday that LasikPlus procedures decreased 8 percent in the third quarter, and the company said coverage of the upcoming presidential election is partly to blame. LCA-Vision reported 11,510 LasikPlus procedures in the third quarter, down from 12,444 a year ago.
Benchmark oil dropped 59 cents to end at $91.89 per barrel in New York. Brent crude, which is used to price international varieties of oil, fell 62 cents to $111.57 per barrel in London. At the pump, the national average for gasoline was unchanged at $3.78 per gallon, according to AAA, Wright Express and the Oil Price Information Service.
DALLAS-- Oil tycoon T. Boone Pickens and his fourth wife, Madeleine, are filing for divorce. Boone Pickens is an Oklahoma native who made much of his fortune in oil drilling.
NEW YORK-- Analysts for Cowen and Co. started coverage of a group of companies that make tests used to diagnose infectious diseases, assigning top ratings to companies including Cepheid, Hologic Inc., and Meridian Bioscience Inc..
KANNAPOLIS, N.C.-- Stewart-Haas Racing announced some much-needed sponsorship Tuesday when Quicken Loans said it will double its commitment to Ryan Newman. Quicken Loans, a new sponsor in NASCAR this year and the primary backer for nine races with Newman, will return for 18 races next year.
NEW ORLEANS-- A federal judge on Tuesday dismissed claims by BP fuel stations and convenience stores that the 2010 oil spill in the Gulf of Mexico diminished the value of the oil giant's brand and cost them business.
November soybeans fell 29.75 cents to finish Tuesday at $15.305 per bushel. Sterling Smith, a Citi futures specialist, said exports sales have been slower this week because markets in China are closed for public holidays. Corn for December delivery rose 1.5 cents to end at $7.5825 per bushel and December wheat dropped 12.75 cents to $8.715 per bushel.
NEW YORK-- The financial losses are starting to pile up as a result of the NHL lockout. In speaking to reporters after talks finished up for the day between the NHL and the NHLPA, Deputy Commissioner Bill Daly estimated that the league has lost $100 million in revenues from the canceled preseason.
NEW YORK-- An analyst cut his rating on shares of Starwood Hotels& Resorts Worldwide Inc. on Tuesday because of the weaker global economy. Raymond James' William Crow lowered his rating to "Outperform" from "Strong Buy" for the operator of the Sheraton, Westin, W and St.
MIAMI-- Dwyane Wade will not be wearing Jordan Brand sneakers and apparel. Wade said his time with Converse and Jordan has been an "unbelievable nine years." Wade made the switch from Converse to Jordan Brand in 2009. Both are owned by Nike Inc..
ATLANTA-- A drop in last-minute travelers in September hurt a key revenue measurement for Delta Air Lines Inc., the company said on Tuesday, although its fuel bill came in lower than expected, too. Per-seat passenger revenue rose 0.5 percent in September. Delta had previously said it expected an increase of 1 percent to 3 percent.
CLINTON, Iowa-- Republican vice presidential nominee Paul Ryan said Tuesday that he and running mate Mitt Romney would help more Americans find jobs so that they can pay taxes. At a rally on the front lawn of a county courthouse, the Wisconsin Republican faced a question from a voter about why so many people don't pay federal income taxes.
CHARLOTTE, N.C.-- Vice President Joe Biden on Tuesday criticized Republican presidential candidate Mitt Romney for proposing policies that Biden says would cut taxes for millionaires and raise them for middle-class families.