The House of Representatives on Monday unanimously approved the Small Business Administration loan program in a bill the Senate had already passed. But the Senate took lightning-fast action to raise the SBA lending limit in less than a day, marking a stark contrast with Congress' protracted battle over another federal loan guarantee agency, the U.S....» Read More
ST. LOUIS-- Reinsurance Group of America Inc.' s net income rose 7 percent in the third quarter, but the company said its operating income declined, mostly because of higher-than-expected claims in the U.S. and Australia.
CLAIMS RISE: Weekly applications for U.S. unemployment benefits jumped 46,000 last week to a seasonally adjusted 388,000, the highest in four months after falling sharply the previous week. THE BACK STORY: A Labor Department spokesman said Thursday the last two week's figures were distorted by seasonal adjustments the department makes.
PITTSBURGH-- PPG Industries said Thursday that its third-quarter net income rose 9 percent as it took advantage of cost reductions and strong sales of coatings. The Pittsburgh company said it made $339 million, or $2.18 per share, compared with $311 million, or $1.96 per share, a year earlier.
Shares of Vivus Inc. tumbled Thursday after an analyst said Wall Street may be over-estimating gains from initial sales of the drug developer's obesity treatment Qsymia. THE BIG PICTURE: Qsymia, Vivus' only approved drug, launched in the U.S. in September.
CHANHASSEN, Minn.-- Life Time Fitness Inc. said Thursday that its third-quarter profit rose 19 percent as more people joined its gyms and spent more money at them. For the quarter ended Sept. 30, the Chanhassen, Minn.- based company earned $32.1 million, or 77 cents per share, up from $27 million, or 66 cents per share, in the same quarter last year.
NEW YORK-- Shares of Aegerion Pharmaceuticals Inc. climbed Thursday after the company said a Food and Drug Administration panel recommended that its cholesterol disorder drug lomitapide be approved. THE SPARK: The Cambridge, Mass., company said Wednesday that an FDA advisory panel voted to support approval of lomitapide.
DENVER-- Three people have been arrested in connection with the killing of five people at a bar that was then set on fire, apparently to hide the crime, and the motive was robbery, Denver police said Thursday.
DEERFIELD, Ill.-- Drug and medical device maker Baxter International reported third-quarter results Thursday that edged 1 percent higher as the company trimmed expenses, meeting Wall Street expectations. The company's profit rose slightly to $583 million, or $1.06 per share, from $576 million, or $1.01 per share, in the prior-year period.
Michele Bachmann's tendency to cause a ruckus on Capitol Hill made her a tea party sensation. Allen West of Florida, Steve King of Iowa and Joe Walsh of Illinois are all embroiled in tough and expensive races that are drawing plenty of spending by friends and foes from around the country.
Scott Brown is apologizing for suggesting Democratic rival Elizabeth Warren used paid actors in political ads defending her legal work in an asbestos lawsuit. The Taunton Daily Gazette reported that Brown was asked how Warren got family members of asbestos victims to appear in her ads.
TEGUCIGALPA, Honduras-- Honduras' Supreme Court has struck down a plan to build a series of model cities with their own independent tax and justice systems, a proposal that was meant to spur economic growth in this Central American country struggling with corruption and crime.
ST. PAUL, Minn.-- Minnesota Gov. Mark Dayton on Thursday appointed the director of the state Trade Office, who also worked on his 2010 campaign, as the new commissioner of the Department of Employment and Economic Development.
PORTLAND, Maine-- E-Z pass users on the Maine Turnpike will soon see some deeper discounts. The Maine Turnpike Authority Board on Thursday unanimously approved a phased-in plan to offer revised toll discounts to E-ZPass customers starting Nov. 1.
OMAHA, Neb.-- Union Pacific said Thursday that its third-quarter profit climbed 15 percent because price increases and more automotive and chemical shipments helped the railroad offset a 12 percent drop in coal shipments. Union Pacific, based in Omaha, Neb., said Thursday that revenue grew 5 percent to $5.34 billion from last year's $5.1 billion.
The layoffs will affect workers at the company's Fuel Systems Plant in Columbus, Columbus MidRange Engine Plant or the Seymour Engine plant, Cummins spokesman Jon Mills told The Republic for a story Thursday.
MILWAUKEE-- Engine maker Briggs& Stratton Corp. said Thursday its fiscal first-quarter loss widened, as drought conditions in much of the U.S. and tough economic conditions in Europe cut into its sales.
LONDON-- The British Broadcasting Corp. says someone is deliberately disrupting its broadcasts in the Middle East and Europe _ interference that follows previous accusations that Iran has attempted to jam the broadcaster's transmissions.
NEW YORK-- Data provider Reed Elsevier Group PLC said Thursday that David Brennan's appointment to its board of directors has been postponed indefinitely. The company said Brennan requested the postponement for personal reasons. The company said in February that Brennan would join its board on Nov. 1.
GENEVA-- An appeals panel of the World Trade Organization has upheld a ruling that China unfairly imposed import tariffs on a high-technology U.S. steel product. In a ruling Thursday, the WTO appeals panel said China was wrong in the way it put duties on U.S.-made grain-oriented flat-rolled electrical steel.