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  • Calif. congressional races attract big donations Wednesday, 17 Oct 2012 | 8:52 AM ET

    _ In a San Diego- area race, Democrat Scott Peters reported raising $1.2 million in his bid to unseat Republican Rep. _ Democratic state Assemblywoman Julia Brownley reported taking in $748,970 last quarter in her bid for an open Ventura County seat and ended September with $304,380 in cash.

  • $1.2M settlement reached with NY pharmacist Wednesday, 17 Oct 2012 | 8:51 AM ET

    ALBANY, N.Y.-- New York Attorney General Eric Schneiderman says a $1.2 million settlement has resolved claims that a Brooklyn pharmacist defrauded Medicaid by improperly billing for prescription medications that he purchased on the street from 2004 to 2009..

  • Conn. man sentenced to 2 years for fraud Wednesday, 17 Oct 2012 | 8:50 AM ET

    NEW HAVEN, Conn.-- A Madison, Conn. man has been sentenced to two years in prison for cheating investors out of $675,000. Federal prosecutors say 58- year-old Thomas Donnelly swindled four investors and used most of their money to pay his own mortgage and other personal expenses. A judge sentenced him Tuesday in U.S. District Court in New Haven.

  • Tourism leaders: 'Do AC' campaign is catching on Wednesday, 17 Oct 2012 | 8:49 AM ET

    The Atlantic City Alliance, the new marketing arm of the casinos, says its multimillion-dollar advertising campaign shows people in New Jersey, New York, Pennsylvania and Baltimore, Md., are improving their perceptions of Atlantic City. That money is now being used to promote Atlantic City more aggressively than ever before.

  • News Summary: Portugal raises $2.4B in auction Wednesday, 17 Oct 2012 | 8:46 AM ET

    BILLIONS BID: Portugal managed to raise 1.85 billion in a debt auction Wednesday despite the country's bleak economic prospects and growing political tension over austerity policies.

  • Armstrong stepping down as Livestrong chairman Wednesday, 17 Oct 2012 | 8:45 AM ET

    AUSTIN, Texas-- Lance Armstrong is stepping down as chairman of his Livestrong cancer-fighting charity to it can focus on its mission instead of its founder's problems. Armstrong's announcement came minutes before Nike Inc., announced it is terminating its personal contract with him.

  • Partnerships to help control Ill. Medicaid costs Wednesday, 17 Oct 2012 | 8:42 AM ET

    CHICAGO-- A for-profit nursing home company owned by a politically connected Chicago businessman is a partner in a project Illinois Gov. Pat Quinn announced Tuesday that aims to control health spending for high-cost Medicaid recipients.

  • Nike ends contract with Lance Armstrong Wednesday, 17 Oct 2012 | 8:41 AM ET

    NEW YORK-- Nike is severing ties with famed cyclist Lance Armstrong, citing insurmountable evidence that he participated in doping and misled the company for more than a decade. The clothing and footwear company said Wednesday that it was ending Armstrong's contract "with great sadness."

  • News Summary: World Food Prize attracts protest Wednesday, 17 Oct 2012 | 8:39 AM ET

    FOOD FOR THOUGHT: Members of Occupy Des Moines plan civil disobedience efforts to obstruct participants at World Food Prize headquarters. World Food Prize Foundation President Kenneth Quinn said he's puzzled that people would object to an organization founded by a man who won a Nobel Peace Prize for efforts to fight hunger.

  • American Airlines parent loses $238M in 3Q Wednesday, 17 Oct 2012 | 8:37 AM ET

    NEW YORK-- American Airlines parent company AMR lost $238 million in the third quarter on employee severance payouts and other costs related to its bankruptcy. A year ago, AMR lost $162 million, or 48 cents per share. AMR Corp. said its core performance improved.

  • US housing construction up 15 percent in September Wednesday, 17 Oct 2012 | 8:37 AM ET

    WASHINGTON-- U.S. builders started construction on single-family homes and apartments in September at the fastest rate since July 2008, a further indication that the housing recovery is strengthening. The Commerce Department said Wednesday that builders broke ground on homes at a seasonally adjusted annual rate of 872,000 in September.

  • Nordic telecom TeliaSonera to slash 2,000 jobs Wednesday, 17 Oct 2012 | 8:22 AM ET

    STOCKHOLM-- Nordic telecommunications company TeliaSonera AB says it will cut 2,000 jobs, or 7 percent of its staff, after sales and profits slumped in the third quarter.

  • *Stanley Black & Decker 3Q profit falls on charges Wednesday, 17 Oct 2012 | 8:21 AM ET
  • Potash lowers 2012, 3Q earnings expectations Wednesday, 17 Oct 2012 | 8:19 AM ET

    NEW YORK-- Fertilizer maker Potash Corp. of Saskatchewan Inc. said Wednesday that its full-year earnings will come in below the low end of its prior forecast mostly because of weaker-than-expected potash sales volumes due to contract delays. The Canadian company previously predicted earnings in a range of $2.80 to $3.20 per share.

  • Pawn shop chain First Cash 3Q profit up 3 percent Wednesday, 17 Oct 2012 | 8:13 AM ET

    ARLINGTON, Texas-- First Cash Financial Services Inc.' s third-quarter net income rose 3 percent as the company made more money from its pawn shops and fees and saw continued strength in Mexico.

  • Pfizer: Cancer drug narrowly misses study goal Wednesday, 17 Oct 2012 | 8:11 AM ET

    NEW YORK-- Pfizer Inc.' s advanced kidney cancer treatment Inlyta missed its main late-stage study goal when compared to another drug in patients who had not been treated for the disease.

  • US futures mixed ahead of housing report Wednesday, 17 Oct 2012 | 8:07 AM ET

    NEW YORK-- U.S. stock futures are mixed as the market digests a new round of earnings from major U.S. corporations like Bank of America, PepsiCo, and Halliburton. The Commerce Department releases its latest housing report Wednesday and economists expect that builders started construction on more homes in September than in August.

  • ExxonMobil Canada to buy Celtic Exploration Wednesday, 17 Oct 2012 | 8:06 AM ET

    The deal gives ExxonMobil Canada access to 649,000 acres in two shale formations, the Montney and Duvernay, as well as additional acreage in other parts of Alberta, the company said. Those include acres in the Inga area of British Columbia, the Grande Cache area of Alberta, and oil and gas properties in Karr, Alberta, the company said.

  • France to set up state-backed investment bank Wednesday, 17 Oct 2012 | 7:58 AM ET

    PARIS-- France is creating a new government-backed investment bank that will aim to spur economic growth by lending to small and medium-sized enterprises. Jean-Pierre Jouyet, the head of French state-owned financial institution CDC, has been named chairman of the new investment bank, known by its French intials BPI.

  • Disney announces weekly park surprises for 2013 Wednesday, 17 Oct 2012 | 7:56 AM ET

    NEW YORK-- Social media will be a big component of a new program announced by Disney Wednesday in which the company's parks in California and Florida will feature weekly surprise themes and events.