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  • Harris shares fall after Lazard downgrade Monday, 15 Oct 2012 | 2:16 PM ET

    Harris Corp.' s shares fell in trading Monday after a Lazard Capital Markets analyst downgraded his rating on the communication and information technology company's stock, citing worries about weaker revenue.

  • Aegerion shares rise on positive FDA review Monday, 15 Oct 2012 | 2:06 PM ET

    The FDA is not required to follow the drug panel's advice, though it often does. The disease occurs in about 1 in every 1 million people in the U.S., according to the FDA. The FDA said in its review that 69 percent of patients in a company trial lowered their bad cholesterol by about 15 percent after 26 weeks taking the drug.

  • Dollar rallies as US retail sales rise Monday, 15 Oct 2012 | 2:05 PM ET

    The Commerce Department said Monday that retail sales rose 1.1 percent in September to $412.9 billion. Traders are looking ahead to a summit of European Union leaders in Brussels later this week. The dollar rose to 78.70 Japanese yen from 78.38 Japanese yen and to 0.9340 Swiss franc from 0.9329 Swiss franc.

  • Portugal unveils more harsh austerity in budget Monday, 15 Oct 2012 | 2:04 PM ET

    LISBON, Portugal-- Portugal's government is taking the bailed-out country deeper into austerity, announcing Monday sharp tax increases next year that risk worsening a recession and stoking public discontent. The government says the measures are needed to cut the national debt as Portugal strives to restore its financial health.

  • Big winners from Pa. gas drilling impact fee Monday, 15 Oct 2012 | 1:58 PM ET

    Pennsylvania state officials said Monday about $200 million worth of impact fees from the Marcellus Shale natural gas drilling industry are about to be sent out, with the largest portion being directed to counties where the drilling occurred. _ Clearfield County, $1.15 million. _ Fayette County, $1.45 million.

  • Majority of Wis. school districts to lose aid Monday, 15 Oct 2012 | 1:57 PM ET

    MADISON, Wis.-- The majority of Wisconsin public school districts will see less money in state aid this year. The state Department of Public Instruction said Monday that 64 percent of districts, or 272 out of 424, will get less money than they did last school year.

  • 5 from W.Va. indicted in alleged coal check scheme Monday, 15 Oct 2012 | 1:56 PM ET

    ABINGDON, Va.-- A grand jury in Virginia has returned charges against five West Virginia men for an alleged scheme to withdraw more than $10 million in cash from financial institutions to pay kickbacks to mine supply buyers. In exchange for a 10 percent fee, J.D. "Dot" McReynolds of Tazewell, Va., provided cash and fraudulent invoices to the coal operators.

  • Analyst upgrades New Oriental, stock climbs Monday, 15 Oct 2012 | 1:50 PM ET

    NEW YORK-- Shares of New Oriental Education& Technology Group climbed more than 5 percent Monday as an analyst raised her rating on the Chinese education company because of the likelihood of a favorable outcome from an investigation by the Securities and Exchange Commission.

  • Survivors, captain hear Italian shipwreck evidence Monday, 15 Oct 2012 | 1:31 PM ET

    GROSSETO, Italy-- A theater in Italy turned into a courtroom Monday, providing extra space for all those who needed to hear the evidence against the captain of a shipwrecked cruise ship.

  • On the Call: Citigroup finance chief John Gerspach Monday, 15 Oct 2012 | 1:30 PM ET

    Citigroup, the country's third-largest bank, on Monday turned in a third-quarter performance that beat Wall Street expectations and pushed its stock higher. Gerspach also wasn't too certain that an upturn in mortgages, which dominated earnings reports from JPMorgan Chase and Wells Fargo last week, would be enough to rescue a struggling economy.

  • *5 from W.Va. indicted in alleged coal check scheme Monday, 15 Oct 2012 | 1:27 PM ET
  • Cancellations, delays add to Brazil airport chaos Monday, 15 Oct 2012 | 1:26 PM ET

    Separately, the check-in system at Tam airlines, Brazil's biggest, was down for three hours early Monday at all locations around the world where the company operates, adding to the air transport chaos in Latin America's biggest nation.

  • NHL labor talks to resume Tuesday in Toronto Monday, 15 Oct 2012 | 1:25 PM ET

    NEW YORK-- The NHL and locked-out players' union will resume negotiations Tuesday in Toronto after a four-day break following two days of meetings last week. Discussions on how to divide hockey-related revenue took a back seat last week in New York when the league and union worked on secondary issues that also need to be resolved.

  • World matched record for hottest September _ again Monday, 15 Oct 2012 | 1:24 PM ET

    Last month's average temperature was 60.2 degrees Fahrenheit worldwide, which is 1.2 degrees above normal, the National Oceanic and Atmospheric Administration said Monday. NOAA climate monitoring chief Deke Arndt said it may be worth studying why September, more than other months, keeps setting world records.

  • Bay area home price rises to 4-year high Monday, 15 Oct 2012 | 1:23 PM ET

    SAN DIEGO-- Home prices in the San Francisco Bay area have risen to their highest level in four years. The San Diego research firm DataQuick reports Monday that the median price for Bay area homes last month was $429,000. It's also $139,000 higher than the mid-2009 low.

  • Ex-Houston attorney pleads guilty in Ponzi scheme Monday, 15 Oct 2012 | 1:22 PM ET

    HOUSTON-- A former attorney in Houston who portrayed himself as a real estate investment tycoon has pleaded guilty in a $7.8 million Ponzi scheme. Federal prosecutors in Houston say 67- year-old Billy Frank Davis pleaded guilty Monday to wire fraud. Investigators say more than 20 investigators were scammed.

  • Univ. of Texas joins online course program edX Monday, 15 Oct 2012 | 1:21 PM ET

    AUSTIN, Texas-- University of Texas regents approved a plan Monday to offer courses to students around the world through an advanced online platform alongside Harvard, MIT and the University of California-Berkeley.

  • URI professor sees 'real strength' in economy Monday, 15 Oct 2012 | 1:20 PM ET

    PROVIDENCE, R.I.-- A Rhode Island economist says he sees some "real strength" and possible momentum in the state's economy. University of Rhode Island Professor Leonard Lardaro said in his "Current Conditions Index" report for August that the state economy seems to be gaining momentum, along with the U.S. economy.

  • Walters to interview Lindsay Lohan next month Monday, 15 Oct 2012 | 1:09 PM ET

    NEW YORK-- Barbara Walters says she will interview Lindsay Lohan next month for ABC's "20/ 20" newsmagazine. The Lifetime biopic stars the 26- year-old actress as screen diva Elizabeth Taylor. It spotlights Taylor's quarter-century love affair with celebrated leading man Richard Burton, whom she married and divorced twice.

  • News Summary: Citi shedding units, courting Fed Monday, 15 Oct 2012 | 1:09 PM ET

    BYE-BYE, BROKERAGE: Citigroup negotiated last month to sell its remaining stake of its retail brokerage to Morgan Stanley. But Citi didn't get as much money as it was hoping for, and it had to take a $4.7 billion charge to third-quarter earnings.