A British vote to leave the European Union would hit large German banks, the head of German financial watchdog Bafin said. » Read More
RALEIGH, N.C.-- Insurance companies want to increase North Carolina homeowner's policies by an average of nearly 18 percent next year. Insurance Commissioner Wayne Goodwin said Wednesday that consumers have until Oct. 19 to offer their views on the request by the North Carolina Rate Bureau, which represents insurance companies.
The Louis Vuitton showman thus capped an incredibly strong Paris fashion week _ with help from artist Daniel Buren _ by building a life-size shopping mall inside the Louvre. Understatement is not a word in Jacobs' vocabulary, so a collaboration with the minimalist artist _ who made the famed striped columns in Paris' Palais Royal _ might have raised eyebrows.
NEW YORK-- Shares of Biolase Inc. soared Wednesday after the maker of medical lasers said that U.S. and European Union regulators have approved its newest dental laser.
READY, SET, HIKE: The top tax rate on long-term capital gains rises from 15 percent to 20 percent on Jan. 1 unless Congress acts. High-income earners face an additional new 3.8 percent Medicare tax on investment income. DON'T PANIC: Consider accelerating a sale of a stock, property or business with substantial capital gains that you already were planning.
NEW DEAL: Bristol-Myers Squibb and France's Sanofi are revamping their longtime partnership marketing some of their best-selling medications, blood thinner Plavix and blood pressure drugs Avapro and Avalide. THE TERMS: Bristol-Myers will keep selling Plavix in the U.S. through December 2019.
The Food and Drug Administration said Wednesday it asked Teva to withdraw Budeprion XL 300 after new testing showed the drug releases its key ingredient faster than the original drug Wellbutrin XL 300, made by GlaxoSmithKline. The action contradicts the FDA's previous update on the issue in 2008, when regulators said the drugs are essentially the same.
Select changes in the top statutory tax rate on long-term capital gains in recent decades:. x- unless Congress alters a pending increase. Sources: Citizens for Tax Justice, Tax Policy Center.
Less than three months remain until the maximum rate of 15 percent on long-term gains rises to 20 percent unless Congress extends the Bush-era tax cuts. On top of that, the health care reform package imposes a new 3.8 percent Medicare tax on the investment income of high-income earners.
Oil fell the most in five months on Wednesday as China's slowing economy raised questions about the strength of global oil demand. Benchmark oil fell $3.75, or 4.1 percent, to $88.14 per barrel Wednesday in New York.
AUGUSTA, Maine-- Maine Housing Authority board members say they'll continue scrutinizing the housing agency's operations and finances following a federal audit that found it failed to provide adequate oversight for its Section 8 program.
HARTFORD, Conn.-- Connecticut's athletic director says the university is looking for a sponsor to step forward and secure the naming rights for its planned basketball training center and has no plans to name the building after newly retired basketball coach Jim Calhoun.
DENVER-- The manager of a Denver Chipotle restaurant has become an Internet celebrity thanks to the wide-eyed pose he struck alongside Mitt Romney when the Republican presidential candidate stopped by for lunch. Marty Arps, 20, posed for a group photo with Romney and Chipotle Mexican Grill Inc. employees Tuesday afternoon.
EWING, N.J.-- Antares Pharma Inc. said Wednesday that it plans to sell 12.5 million shares of its stock for $4 per share, raising about $47 million after expenses. Shares of Antares fell 37 cents, or 8.4 percent, to $4.03 in afternoon trading Wednesday. It has traded between $1.51 and $5.58 in the last 12 months.
ST. LOUIS-- Bakers Footwear Group on Wednesday filed for Chapter 11 bankruptcy protection citing weak sales and mounting losses. Bakers filed in the Eastern District of Missouri. It plans to continue an existing plan to reorganize the company by selling up to 52 leases to Aldo U.S. Inc., closing other stores and selling off merchandise from closed stores.
SLIPPERY SLOPE: Lawmakers and policymakers are weighing how to use taxes and fees on oil and gas production to bolster state budgets and economies without alienating local communities or scaring away energy development.
Clinton says Tehran is responsible for the country's economic problems and Iran's currency hitting a record low against the U.S. dollar. Speaking Wednesday beside Kazakhstan's foreign minister, Clinton acknowledged that international sanctions have contributed to Iran's economic woes.
YEN FOR FLYING: The takeoff of AirAsia Japan, Peach Aviation and Jetstar Japan could change lifestyles in Japan. No longer will air travel be mostly confined to business trips and fancy vacations to places like Hawaii.