President Barack Obama and Indian Prime Minister Narendra Modi announced a breakthrough on nuclear trade on Sunday, a step that both sides hope will help establish an enduring strategic partnership. Signaling his determination to take ties to a higher level, Modi broke with protocol to meet and bear-hug Obama as he landed in New Delhi earlier in the day.» Read More
NEW YORK-- Stock futures were mixed Tuesday with a new outlook on the global economic landscape y providing markets with fewer reasons to overlook what is likely to be a weak quarter for many of the biggest U.S. corporations.
NEW YORK-- Sterne, Agee& Leach is boosting its ratings on Shoe Carnival, citing sales and better-than-expected store growth potential. Shoe Carnival already has 17 leases signed for next year and 10 others that are close to being signed, Poser said. Poser raised his rating on Shoe Carnival Inc. to "Buy" from "Neutral" and gave a $28 price target.
MADRID-- Spain's Red Cross is launching its first-ever public appeal for donations to help the growing number Spaniards in need of help because of the country's economic crisis. The agency helped some 2 million people in Spain last year, most of who were in need of food or money. Spain is in its second recession in three years with near 25 percent unemployment.
NEW YORK-- Investors are hoping to see a rebound in profit from operations in China when Yum Brands Inc. reports its fiscal third-quarter earnings after Tuesday's closing bell. The China business had strong sales growth in the quarter, but inflation reduced its profit.
Treasury Secretary Timothy Geithner met Tuesday with India's finance minister to discuss lowering trade and investment barriers just weeks after the Indian government started a drive to reignite the nation's declining economic growth.
TOKYO-- Sales of Japanese vehicles nosedived in China during September as anti-Japanese sentiment flared over a territorial dispute that threatens to hobble what was a booming business relationship between Japan and its biggest export market.
But the high-pitched row between Beijing and Tokyo over their ownership is exacting a growing toll on Japan, threatening to send its recovery from last year's disasters into reverse.
LUXEMBOURG-- European Union finance ministers grappled Tuesday with how to support their struggling banks and ensure that failing financial institutions don't have the power to drag down entire countries with them.
WOODLAND PARK, N.J.-- Chemical coating maker Cytec Industries Inc. said Tuesday it has agreed to sell its coating resins business to private equity firm Advent International for $1.03 billion.
PHILADELPHIA-- Destination Maternity said Tuesday that its fiscal fourth-quarter revenue dipped slightly, but the results still managed to beat Wall Street's expectations. Destination Maternity said that its quarterly revenue fell less than 1 percent to $128.5 million.
NEW YORK-- Small business owners are growing more pessimistic. A survey released Tuesday by the National Federation of Independent Business shows that owners became more pessimistic during September as employment and sales remained weak. The NFIB's index of owner optimism fell 0.1 point to 92.8.
NEW BRITAIN, Conn.-- Tool maker Stanley Black& Decker Inc. is selling its hardware and home-improvement business to Spectrum Brands Holdings Inc. for $1.4 billion in cash. Stanley Black& Decker, which is based in New Britain Conn., said the sale is part of its ongoing strategy to diversify its revenue and geographic reach.
AMSTERDAM-- World stock markets mostly declined Tuesday against a backdrop of worries about global economic growth and Europe's debt crisis. Meanwhile, comments by the International Monetary Fund on the global economy "provide a gloomy backdrop" for the day, said Monument Securities analyst Marc Ostwald.
NEW YORK-- Alcoa Inc. may set the stage for what's expected to be a disappointing earnings season when it reports third-quarter results Tuesday after the markets close. Alcoa's net income equaled 15 cents a share in the third quarter of 2011.. Alcoa faces challenges from a slowdown in global manufacturing.
HOFFMAN ESTATES, Ill.-- Sears anticipates that it will receive about $346.5 million in gross proceeds from a rights offering related to the spinoff of its Hometown and Outlet stores. Sears Holdings Corp. had signaled in February that it would split off the companies as a separate publicly traded entity.
ATHENS, Greece-- Greece's debt management agency says the country's short-term borrowing costs have inched down in a new treasury bill auction that raised 1.3 billion.
MOSCOW-- Russia's second-largest mobile phone operator MegaFon says it will go public in London and Moscow in November. MegaFon, the last of Russia's big three mobile company to hold an IPO, said on Tuesday in a regulatory filing that it would sell an unspecified amount of stock at Moscow's MICEX and the London Stock Exchange by year-end.
FRANKFURT, German-- European Central Bank President Mario Draghi is urging eurozone leaders to move ahead quickly and put the ECB in charge of supervising banks _ a key step in overcoming the continent's crisis over too much government debt.
LONDON-- A police blogger unmasked after the Times of London hacked his email has been awarded 42,500 pounds in damages from the newspaper's publisher. Rupert Murdoch's News International, which publishes the Times, said Tuesday it had agreed to pay damages and legal costs for Richard Horton.
A day before, the World Bank issued a warning about a slackening expansion in Asia. Britain's FTSE 100 fell more than 0.2 percent to 5,827.72. The picture was not as bleak in Asia, where stock market performance was mixed.