MADRID— Uncertainty over Catalonia's political future is set to hurt the independence-minded Spanish region's public finances after an international agency lowered its credit rating. Standard& Poor's downgraded Catalonia's rating from BB to BB- due to the "nascent tensions" between the region and the central government in Madrid. It also noted that the...» Read More
Bank stocks rose broadly after Citigroup delivered a strong earnings report. Companies that rely on consumer spending, like Lowe's, TJX Cos. and Yum Brands, rose after the government reported that retail sales rose 1.1 percent in the U.S. last month.
NEW YORK-- Morgan Stanley is being accused of discriminating against black homeowners and violating federal civil rights laws by providing strong incentives to a subprime lender to originate mortgages that were likely to go unrepaid.
NEW YORK-- Stocks are opening higher on Wall Street after a strong report on retail sales. Just after the opening bell on Wall Street, the Dow Jones industrial average is up 26 points at 13,355. The Standard& Poor's 500 index is up three at 1,431. And the Nasdaq composite index is up 10 at 3,054..
MENLO PARK, Calif.-- The Food and Drug Administration will review Depomed Inc.' s potential treatment for menopausal hot flashes and may decide its fate by next spring. Depomed, based in Menlo Park, Calif., said Monday that the FDA accepted Serada for a standard review and aims to complete its evaluation by May 31.
NEW YORK-- Shares of Consol Energy Inc. lost ground Monday after the coal and gas producer said it will post a third-quarter loss, due mostly to the idling of some mines. The company didn't give a specific outlook, but said that the idling of some mines are took its toll on results for the quarter that ended last month.
SAN FRANCISCO-- The Charles Schwab Corp. has agreed to acquire dividend income specialist ThomasPartners Inc. for an upfront payment of $85 million, plus additional payments if the smaller company can attract more investors. It had $2.3 billion under management as of Sept. 30, mostly in growth-oriented stocks that pay dividends.
In addition to its namesake stores, Gap Inc. operates Old Navy, Banana Republic and Athleta. At Gap, for example, it's focusing on denim products while at Banana Republic it's been zeroing in on suits. But she also said that Old Navy's new global brand president, Stefan Larsson, should bring fresh ideas that have an impact on the brand in 2013 and beyond.
NEW YORK-- Shares of Clearwire jumped 12 percent in premarket trading Monday following news that the Japanese cell phone company Softbank Corp. is buying a majority stake in Sprint, which owns half of the company. Clearwire operates a wireless broadband network that Sprint resells as " Sprint 4 G."
NEW YORK-- Family Dollar on Monday appointed Jocelyn Wong as its chief marketing officer. Wong, who will also serve as senior vice president, recently served as group vice president of shopper marketing for the supermarket chain Safeway Inc. Safeway recently launched a customer loyalty program that offers personalized discounts based on past purchases.
ROME-- The International baseball and softball federations signed an agreement Monday to join forces in a bid to get back into the Olympics, while proposing a shortened tournament they hope will attract Major League Baseball players.
LIVERPOOL, England-- Liverpool announced plans Monday to expand the capacity of Anfield, the club's home for 120 years, rather than building a new stadium. The 18- time English champions started working on a new $800- million venue in nearby Stanley Park before owner John Henry's takeover two years ago, but it was abandoned due to financial problems.
Liquidity Services Inc.' s profit appears to be under pressure in the fiscal fourth-quarter, after the company released weak September sales results, an analyst said Monday.
Its popularity grew as the moment of the jump drew closer, as people kept sharing links on Twitter and Facebook and websites embedded the stream. After Baumgartner landed, sponsor Red Bull posted a picture of the daredevil on his knees to Facebook.
SEATTLE-- Inspired by the Pompidou Center in Paris, which for nearly two years removed all the men's art from their modern galleries, the Seattle Art Museum is letting women take over its downtown building this fall.
LOS ANGELES-- Liam Neeson's "Taken 2" has defended its box-office title with a narrow win over Ben Affleck's "Argo." Sony's "Here Comes the Boom," with Kevin James as a teacher who becomes a mixed martial arts sensation, started weakly at No. 5 with $12 million.
MUMBAI, India-- India's Reliance Industries on Monday reported a 5.7 percent slide in September quarter profits from a year ago, as the company scales back investment in India's largest oil and gas fields.
TARRYTOWN, N.Y.-- For the people who want to shut down Entergy Corp.' s nuclear plant in the New York City suburbs, where 17 million people live within 50 miles, this day has been a long time coming. Andrew Cuomo _ who have campaigned against the plant, on the Hudson River in Buchanan, 35 miles north of Manhattan.
NEW YORK-- Pizza Hut is rethinking its contest daring people to ask "Sausage or Pepperoni?" Pizza Hut spokesman Doug Terfehr said the majority of the feedback the company has seen has been very positive. Pizza Hut, a unit of Yum Brands Inc., says it will still honor the prize if someone poses the question live at the debate.
ALBANY, N.Y.-- Supporters of using hydraulic fracturing to produce natural gas are set to demonstrate in Albany, N.Y.. Hundreds of people are expected to rally at the Corning Preserve on the Hudson River and then march to a park near the Capitol for speeches by elected officials and labor leaders at midday Monday.