ABUJA, Sept 20- Nigeria's oil minister announced a 213 billion naira bail-out package for power companies on Saturday, nearly a year after the sector was privatised.» Read More
LAGOS, Nigeria-- Royal Dutch Shell PLC warned Tuesday that it won't be able to make its estimated production for two types of oil pumped from Nigeria, largely blaming attacks on its pipelines by thieves wanting to steal crude.
HELSINKI-- Nokia Corp. is planning to raise 750 million via an issue of bonds as part of an effort to build up its reserves ahead of next month's launch of phones running Microsoft's new Windows 8 software. Last week, Nokia posted a third-quarter net loss of 969 million as sales dwindled 20 percent to 7.2 billion.
LONDON-- The director general of the BBC is set to face a lawmaker committee to explain why the broadcaster pulled an expose unmasking one of its most popular entertainers as a pedophile. George Entwistle will face lawmakers on the Culture Media and Sport Select Committee on Tuesday.
Wade _ the Supreme Court ruling establishing abortion rights _ should be reversed, which would allow states to ban abortion. That's hyperbole, retorts the GOP, but there are indeed stark differences between the two parties over these volatile issues.
ST. PETERSBURG, Russia-- It was intended as a friendly guide to Russia for labor migrants from Central Asia, but instead it turned into an insult. The government of Tajikistan formally urged Russian authorities to remove the book from circulation, and representatives of the Uzbek community voiced their outrage.
DALLAS-- Heelys Inc., maker of wheeled shoes for kids, said Tuesday it has agreed to sell its operations to a group led by the private equity firm Evergreen Group Ventures for $13.9 million in cash and then dissolve what is left of the company.
Unless Congress acts, the trust funds that support Social Security will run out of money in 2033, according to the trustees who oversee the retirement and disability program. At that point, Social Security would collect only enough tax revenue each year to pay about 75 percent of benefits.
DuPont, the chemical maker, and 3 M, which makes everything from Scotch tape to traffic sign coatings, are among the companies that posted disappointing results. The euro fell to $1.2973 in afternoon trading from $1.3045 late Monday. The British pound fell to $1.5935 from $1.6006.
NEW YORK-- Shares of Star Scientific fell 6 percent on Tuesday as investors likely viewed a $5 million payout in a patent dispute settlement as smaller than anticipated.
Weak or cautious forecasts this week from major manufacturers including 3 M Co., Korean steel maker Posco and heavy equipment manufacturer Caterpillar contributed to concern about global economic growth. Exxon Mobil Corp. fell $1.94, or 2.1 percent, to $90.25; and ConocoPhillips fell $1.12, or 2 percent, at $55.92;.
WALLET, MEET PC: United Parcel Service Inc., the world's largest package delivery company, thinks online demand for gadgets will help its earnings this year, making up for slower shipments between businesses.
Other global companies, including Caterpillar on Monday, cited slower-than-expected growth in the U.S., China, and noted the broadening recession in Europe. South Korean steel maker Posco said that it expected growth in steel demand to range between 2 percent and 3 percent by 2013 because of slower demand globally in both developed and emerging countries.
PURCHASE, N.Y.-- PepsiCo Inc. will sell Japan's Suntory Holdings Ltd. a 51 percent stake in its Vietnam beverage business, with the two companies combining resources to expand in the growing market. Both Suntory and PepsiCo executives will help manage the business, which will serve as the bottler for both companies in Vietnam.
Benchmark oil dropped $2.32, or 2.6 percent, to $86.29 in afternoon trading in New York. The national average for a gallon of regular gasoline dropped 2 cents overnight to $3.65. That's why gasoline futures have plunged 12 percent in less than two weeks, including a 6- cent drop Tuesday to $2.59 per gallon.
A unionized job once meant a secure path to a middle-class life. President Barack Obama has signed a series of executive orders that encourage the use of union labor in federal construction projects, ease union financial reporting requirements and more.
NEW YORK-- Nobody was expecting this earnings season to be great. Stocks plunged Tuesday, making it one of the worst days on Wall Street so far this year and sending the major indexes to their lowest levels since early September. That was June 1, the day the government released an ominously weak jobs report.
GLENVIEW, Ill.-- Security products distributor Anixter International said Tuesday that its net income dropped 53 percent in the third quarter mostly because of impairment and inventory charges. The Glenview, Ill., company earned $20.5 million, or 61 cents per share, compared with $43.5 million, or $1.26 per share, a year earlier.
And it sparked the Wall Street protests that spread to other cities in the country. President Barack Obama would raise taxes on households earning more than $250,000 a year, plus set a minimum tax rate of 30 percent for those who earn $1 million or more.
SIOUX FALLS, S.D.-- South Dakota feedlots with capacities of 1,000 or more head had 195,000 cattle on feed for the slaughter market as of Oct. 1. The Agriculture Department says the inventory is down 10,000 head over the year but up 10,000 head over the month.
NOT ART: Lap dances are taxable because they don't promote culture in a community the way ballet or other artistic endeavors do, New York's highest court concluded Tuesday in a sharply divided ruling.