Aug 27- Lear Corp, a maker of auto seats and electrical power systems, said it would buy automotive leather supplier Eagle Ottawa LLC for $850 million to strengthen its core seating business and boost its luxury seats portfolio.» Read More
NEW YORK-- The price of oil dropped Friday after a new report predicted a slower pace of growth in demand for oil, overshadowing concerns about unrest in the Middle East. On the New York Mercantile Exchange:. _ Benchmark oil fell 21 cents to end at $91.86 per barrel.
LONDON-- A Gerhard Richter painting owned by Eric Clapton has sold for 21.3 million pounds, handily beating pre-sale estimates and setting a new auction record for the German abstract artist.
HARTFORD, Conn.-- Documents filed in the criminal case against a Venezuelan-American financier say losses from a Connecticut- based fraud scheme could total as much as $600 million.
SAN DIEGO-- Southern California home prices posted a sixth straight annual increase in September as buying shifted to more expensive houses along the coast and the supply of heavily discounted foreclosed properties dwindled, a research firm reported Friday.
NEW YORK-- Soda makers, restaurateurs and other businesses sued Friday to try to block the city's unprecedented move to restrict sales of super-sized, sugary drinks, an effort the city called a coup for public health but the industry views as unfair and undemocratic.
Wells Fargo said Friday that its third-quarter net income and revenue rose as the bank increased consumer lending and collected more fees. In a call with analysts, Wells Fargo Chairman, President and CEO John Stumpf explained why interest income might not be such a grave threat.
NEW YORK-- Analysts expect that Mattel Inc.' s third-quarter net income and revenue to rise as shoppers snap up its Monster High and Barbie dolls, among other toys, ahead of the busy holiday season.
Major indexes closed little changed on Wall Street Friday. Banks fell after Wells Fargo missed analysts' revenue estimates. Falling stocks outnumbered rising ones nearly two-to-one on the New York Stock Exchange.
CHANGE INEVITABLE: With the outcome of next month's presidential election increasingly hazy, here's a shred of clarity that investors can cling to: The tax rates they pay on investment income like stock profits and dividends are almost certain to change.
NEW YORK-- Shares of China's Ninetowns Internet Technology Group Co. jumped on Friday after the company said it had received a preliminary, non-binding proposal from a group including the chief executive to take the company private.
WASHINGTON-- With the outcome of next month's presidential election increasingly hazy, here's a shred of clarity that investors can cling to: The tax rates they pay on investment income like stock profits and dividends are almost certain to change.
AG DRAIN: Wheat prices fell 3.3 percent as weekend storms are expected to deliver much-needed moisture to fields in part of the growing region. SLUGGISH OIL: Oil prices fell after the International Energy Agency predicted a slower pace of growth in demand over the next five years.
Wheat for December delivery fell 29.25 cents to finish at $8.5675 per bushel. The weekend rains are expected to help winter wheat crops that have been plagued by dry weather in western Kansas, western Nebraska and eastern Colorado.
NEW YORK-- Shares of XenoPort Inc. fell Friday after a Piper Jaffray analyst downgraded the stock, saying the company's experimental multiple sclerosis drug is years away from marketing approval or a development partnership.
BETHESDA, Md.-- DiamondRock Hospitality's fiscal third-quarter results improved as room rates climbed, but the company lowered its 2012 adjusted funds from operations forecast and issued fourth-quarter guidance below Wall Street's view.
PARIS-- The Paris prosecutor's office says it has opened a preliminary investigation into scarf and bag maker Hermes' claim that luxury giant LVMH Moet Hennessy Louis Vuitton engaged in insider trading and share manipulation when it took a stake in its rival.
NEW YORK-- Shares of discount store chain Dollar Tree fell on Friday after an analyst downgraded the stock on weakening sales trends. THE SPARK: Jefferies analyst Daniel Binder said in a note to investors that revenue in stores open at least one year, a key retail metric, have been decelerating at Dollar Tree.