Analysts and industry sources said milk output during the 2014/ 15 season, which starts July 1, could well be stronger than the 2 percent rise to 9.3 billion liters predicted by the Australian Bureau of Agricultural, Resource Economics and Sciences. Australia is the world's third-largest dairy exporter behind New Zealand and the European Union.» Read More
MUMBAI, India-- India's inflation accelerated to 7.8 percent in September after the government hiked subsidized fuel prices to rein in the budget deficit. "Core inflation has remained sticky," said Sonal Varma, economist at Nomura Financial Advisory and Securities in Mumbai. "
By afternoon in Europe, benchmark oil for November delivery was down 11 cents to $91.75 a barrel in electronic trading on the New York Mercantile Exchange. Benchmark oil fell 21 cents Friday to settle at $91.86 per barrel on the Nymex. Brent crude, which is used to price international varieties of oil, added 57 cents to $115.19 per barrel in London.
STOCKHOLM-- A Swedish committee is getting ready to present the winners of the Nobel Memorial Prize in Economic Sciences, the last of this year's Nobel awards to be announced. The economics prize was not among the original prizes established in the will of Alfred Nobel, a Swedish industrialist also known for inventing dynamite.
LEWISTON, Maine-- A Maine brewery is planning an expansion that will quadruple its capacity over time. Baxter Brewing Co. said Monday its brewery in Lewiston will grow from 8,000 barrels to more than 33,000 barrels by the time the expansion is complete.
HARRISBURG, Pa.-- Pennsylvania state agencies and local governments in places where drilling for natural gas is occurring learned Monday how much money they will get out from a fund that has already collected more than $200 million in "impact fees" from drillers.
NEW YORK-- New York City's transit authority unveiled its latest fare and toll proposals for rails, bridges and subways on Monday, including one that would raise the 30- day unlimited subway MetroCard from $104 to $125. The Metropolitan Transit Authority has said the 2013 hike would bring in $450 million a year to support the nation's largest transit system.
In midday trading, benchmark crude oil was down 99 cents, or 1.1 percent, to $90.87. The Commerce Department says retail sales rose 1.1 percent last month. On Friday, the International Energy Agency issued a new report predicting slower growth in demand for oil over the next five years.
Shares of Workday Inc. jumped Monday in its second day of trading as a public company. The company raised $637 million in its IPO, selling 22.8 million shares for $28 each, above the expected range of $24 to $26 per share. It competes with giant corporations in enterprise software like Oracle Corp. and SAP AG.
NEW YORK-- Shares of Clearwire Corp., which operates a wireless data network, hit a 52- week high after Japan's Softbank Corp. agreed to pay $20.1 billion for a 70 percent stake in Sprint Nextel Corp.. THE SPARK: Sprint owns 48 percent of Clearwire but doesn't control its board. It's also Clearwire's biggest customer, reselling access to its network as " Sprint 4 G."
KUALA LUMPUR, Malaysia-- Southeast Asia's top budget carrier AirAsia said Monday it has aborted an $80 million deal to buy Indonesia's Batavia Air because it will be too risky for shareholders. Our aggressive focus in Indonesia remains and we will push our Indonesian IPO plans while still maintaining close co-operation with Batavia Air. "
WASHINGTON-- Asia's top powers have doubled defense spending in the past decade, spurred by the explosion in military expenditure by China, new research shows. The research covers China, Japan, India, South Korea and Taiwan, which account for some 87 percent of Asia's defense spending.
BALTIMORE-- Millennial Media Inc. raised its third-quarter revenue forecast Monday on increasing demand, but the mobile advertising company said it expects to post a net loss for its third quarter. The Baltimore- based company anticipates revenue of $46.5 million to $47 million, up from its prior outlook of $43.5 million to $45 million.
CHICAGO-- Economists foresee only tepid growth for the coming year, with unemployment back above 8 percent for the first half of 2013.. The quarterly survey by the National Association for Business Economists released Monday predicts growth will be weak overall but should slowly accelerate through 2013..
BANGKOK-- Asian stock markets fell Monday as hopes dimmed for aggressive moves by China to stimulate its slowing economy.
Students walking to their apartments might encounter executives heading to a conference on Cornell NYC Tech's park-like campus on Roosevelt Island, according to a plan being submitted Monday for a city review.
All three parties promised radical policy changes, including increased wages and lower taxes, while the Social Democrats said that Lithuania should postpone introducing the euro until Europe could straighten out its current financial mess.
SAN FRANCISCO-- Corrosion that went unchecked _ the suspected cause of a fire at Chevron Corp.' s Richmond refinery in August _ has been linked to a fire at the plant in October 2011, the San Francisco Chronicle reported Sunday.
VILNIUS, Lithuania-- Opposition populists and leftists in crisis-worn Lithuania hinted they were prepared to form a government coalition after an exit poll late Sunday indicated their parties would take first and second place in the country's parliamentary elections.
BRUSSELS-- The leader of a separatist party won the race to become mayor of Antwerp, Europe's second biggest port city, and vowed Sunday to use the power base to seek wider autonomy for Belgium's wealthy Dutch-speaking region of Flanders.