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  • Vikram Pandit steps down as Citigroup CEO Tuesday, 16 Oct 2012 | 8:36 AM ET

    Vikram Pandit, who steered Citigroup through the 2008 financial crisis and the choppy years that followed, abruptly left the bank on Tuesday, stepping down as CEO and as a director. A second top executive resigned as part of the shake-up: President and Chief Operating Officer John Havens, who also served as CEO of Citi's Institutional Client Group.

  • NY man accused of defrauding Broadway show, others Tuesday, 16 Oct 2012 | 8:35 AM ET

    CENTRAL ISLIP, N.Y.-- Mark Hotton appeared on the high-stakes Broadway theater scene out of nowhere this year, offering to come to the financial rescue of a fledgling Broadway adaptation of the psychological thriller "Rebecca."

  • Swiss hold $1 billion Arab Spring 'dictator' funds Tuesday, 16 Oct 2012 | 8:35 AM ET

    GENEVA-- Switzerland has blocked almost 1 billion Swiss francs linked to rulers in four Arab Spring nations, a senior government official said Tuesday.

  • Social Security benefits to go up by 1.7 percent Tuesday, 16 Oct 2012 | 8:35 AM ET

    WASHINGTON-- More than 56 million Social Security recipients will see their monthly payments go up by 1.7 percent next year. It shows that inflation has been relatively low over the past year, despite the recent surge in gas prices, resulting in one of the smallest increases in Social Security payments since automatic adjustments were adopted in 1975..

  • Coca-Cola's profit up as sales grow worldwide Tuesday, 16 Oct 2012 | 8:33 AM ET

    NEW YORK-- The Coca-Cola Co. says its net income rose 4 percent in the third quarter, as the world's biggest beverage maker expanded in in emerging markets and relied more heavily on sports drinks and teas for growth at home. In India, by contrast, sales volume for the Coca-Cola brand rose by 34 percent and overall sales volume rose 15 percent in the country.

  • PNC net income rises in 3Q as revenue jumps Tuesday, 16 Oct 2012 | 8:31 AM ET

    PITTSBURGH-- The PNC Financial Services Group Inc.' s net income rose solidly in the third quarter, boosted by a one-time gain from a sale of Visa shares and higher fees from corporate clients. The bank's income from interest on loans increased, bucking an industry-wide trend, because PNC acquired RBC Bank since last year's third quarter.

  • A123 Systems expects to default of some debt Tuesday, 16 Oct 2012 | 8:24 AM ET

    WALTHAM, Mass.-- A123 Systems says a default on some of its debt is likely and it may be heading for bankruptcy protection. There were enormous hopes for A123 when it went public three years ago and shares soared 50 percent to more than $20 on the first day. A123 also got a $249 million government grant to help it build a battery factory in Michigan.

  • Pandit stepping down as Citi CEO Tuesday, 16 Oct 2012 | 8:19 AM ET

    NEW YORK-- Citigroup Inc. says Vikram Pandit is stepping down as CEO and a board member. The New York bank's new CEO will be Michael Corbat, the CEO of the company's Europe, Middle East and Africa division. Pandit says that "now is the right time for someone else to take the helm at Citigroup" after the bank "emerged from the financial crisis as a strong institution."

  • J&J Q3 net income drops 7 percent on higher costs Tuesday, 16 Oct 2012 | 8:09 AM ET

    Johnson& Johnson's third-quarter profit fell 7 percent as litigation and acquisition costs and factory upgrade expenses related to its consumer product recalls offset higher medicine and medical device sales.

  • Coca-Cola's profit up 3 percent on stronger sales Tuesday, 16 Oct 2012 | 7:57 AM ET

    NEW YORK-- The Coca-Cola Co. says its net income rose 3 percent in the third quarter, as the world's biggest beverage maker sold more of it drinks around the globe and raised prices. The company says it earned $2.31 billion, or 50 cents per share, for the period ended Sept. 28.

  • Goldman Sachs' earnings soar, but stock slips Tuesday, 16 Oct 2012 | 7:57 AM ET

    NEW YORK-- Goldman Sachs easily beat analysts' estimates for earnings and revenue in the third quarter. On a per-share basis Goldman earned $2.85, blowing away Wall Street's expectations. Revenue more than doubled, to $8.4 billion from $3.6 billion, and also beat estimates of $7.2 billion.

  • Coca-Cola's profit up 4 percent on stronger sales Tuesday, 16 Oct 2012 | 7:52 AM ET

    NEW YORK-- The Coca-Cola Co. says its net income rose 4 percent in the third quarter, as the world's biggest beverage maker sold more of it drinks around the globe and raised prices. The company says it earned $2.31 billion, or 50 cents per share, for the period ended Sept. 28.

  • Ford recalls Fiesta subcompact for air bag problem Tuesday, 16 Oct 2012 | 7:34 AM ET

    DETROIT-- Ford is recalling more than 154,000 Fiesta subcompacts to fix a problem with the side air bags. The company says that if the front passenger seat is empty, the side air bag won't inflate to protect rear-seat passengers in some crashes. They were built in Mexico from Nov. 3, 2009 to Sept. 21, 2012.

  • Domino's 3Q results beat Wall St. expectations Tuesday, 16 Oct 2012 | 7:33 AM ET

    ANN ARBOR, Mich.-- Domino's Pizza's fiscal third-quarter net income climbed 18 percent as sales improved in the U.S. and overseas. Domino's reported Tuesday that it earned $26 million, or 44 cents per share. For the period that ended Sept. 9, revenue increased 1 percent to $378.1 million from $376.3 million.

  • Iraq probes alleged corruption at central bank Tuesday, 16 Oct 2012 | 7:30 AM ET

    The governor, Sinan al-Shabibi, is seen as a politically independent economist who has led the bank since shortly after the U.S.-led invasion of Iraq in 2003.. Iraqi Integrity Commission spokesman Hassan Karim Aati said it has received documents from a parliamentary committee investigating the allegations and is looking into the matter.

  • Social Security set to announce benefit increase Tuesday, 16 Oct 2012 | 7:20 AM ET

    WASHINGTON-- More than 56 million Social Security recipients will soon find out how much their monthly payments will go up next year. The increase is tied to a government measure of inflation being released Tuesday morning. Social Security payments for retired workers average $1,237 a month, or about $14,800 a year.

  • US futures edge up on strong corporate earnings Tuesday, 16 Oct 2012 | 7:14 AM ET

    Mattel and UnitedHealth posted strong results for the third quarter. Goldman Sachs and Johnson& Johnson both beat Wall Street expectations. The Coca-Cola Co. says its net income rose 3 percent.

  • Airline executives urge airport security overhaul Tuesday, 16 Oct 2012 | 7:07 AM ET

    "We simply can't cope with the expected volume of passengers with the way things are today," said Tony Tyler, director general and CEO of the International Air Transport Association, the airlines' trade group. Tyler spoke at an airlines conference held in Abu Dhabi, the capital of the United Arab Emirates.

  • Earnings Preview: Southwest seen posting profit Tuesday, 16 Oct 2012 | 6:58 AM ET

    DALLAS-- Traffic and average prices both weakened in September, but analysts believe Southwest Airlines still made money in the third quarter. Southwest, which carries the most passengers within the U.S. of any airline, is scheduled to report financial results on Thursday.

  • Italy corruption probes claim Lombardy legislature Tuesday, 16 Oct 2012 | 6:47 AM ET

    ROME-- The embattled governor of Italy's powerful Lombardy region, which includes Milan, has announced the dissolution of the regional legislature as Italy's mounting political corruption scandal claims its biggest victim yet. He has said he would name a technical administration to run Lombardy until early elections.