"You can talk about two different periods since the crisis started: when the welfare state worked, and then austerity," Michael Forster, a senior policy analyst at the Organisation for Economic Co-operation and Development in Paris, told Reuters. "It could be that we are now in a third phase, which is actually very country-specific," he said, pointing to a return to more...» Read More
Danaher Corp. and Cooper Industries said Wednesday that they will sell a tool making business they created two years ago as a joint venture for about $1.6 billion to private equity firm Bain Capital.
ISSAQUAH, Wash.-- Shoppers continue to head to Costco in search of deals, helping the wholesale club operator's fiscal fourth-quarter net income and revenue climb. Consumers have been drawn to stores like Costco, BJ's Wholesale Club and Sam's Club because they feel like they are getting bargains by purchasing items in bulk.
MUMBAI, India-- Car sales in India may grow just 1 percent this fiscal year, down from a July forecast of around 10 percent as the economy falters, the Society of Indian Automobile Manufacturers said Wednesday. India's rural economy has been a bulwark of strong consumption amid global uncertainty.
ROME-- Italy raised 11 billion in a pair of short term auctions but had to pay slightly higher interest rates to get investors to part with their cash. Over recent weeks, Italy has not been a primary focus in Europe's debt crisis.
Alcoa kicked off the latest round with a warning that demand for aluminum was lower than anticipated largely because of a slowdown in China. Alcoa's warning about global demand came as the International Monetary Fund lowered its global growth forecast for this year to 3.3 percent from the previous estimate of 3.5 percent.
Pizza Hut is offering a lifetime of free pizza _ one large pie a week for 30 years _ or a check for $15,600 to anyone who poses the question to either President Barack Obama or Republican candidate Mitt Romney during the live Town Hall- style debate next Tuesday.
BAGHDAD-- Iraq's top energy official is predicting that the country's current oil production of 3.4 million barrels per day will double by 2015.. Deputy Prime Minister Hussein al-Shahristani on Wednesday also said Iraq's long term target is to produce up to 10 million barrels of oil daily by 2020..
Britain's FTSE 100 fell 0.3 percent to 5,792.95. Stock markets in Asia also posted losses, with the exception of mainland China, where shares rose a day after posting big gains on hopes that Chinese authorities were preparing sizeable steps to help reverse the decline in growth in the world's second-largest economy.
NEW DELHI-- As Western sanctions squeeze Iran and its currency tumbles, the country's energy minister worked Wednesday to woo Indian businesses to invest in the beleaguered Iranian economy. The United States and the European Union have imposed sanctions on Iran to deter it from pursuing a nuclear weapons program.
ROME-- Prices for rice, wheat and other key foods are expected to remain volatile and possibly increase _ and poor farmers and consumers particularly in Africa will be hurt most, the U.N. food agencies said Monday.
LONDON-- Defense and aerospace companies BAE Systems PLC and EADS have hours to agree on whether to go ahead with a proposed merger that has prompted a wide range of concerns in Britain, France and Germany.
The video was shot using a hidden camera by a member of Mercy for Animals who got a job at Bettencourt Dairies' Dry Creek Dairy in Hansen for a few weeks this summer.
Just days after Southern California Edison asked the Nuclear Regulatory Commission for permission to repair and start the Unit 2 reactor, then run it at reduced power, the agency is facing pressure from groups critical of the nuclear power industry to initiate a review that could take months or even years to complete.
DUBAI, United Arab Emirates-- Flights were snarled at the Middle East's busiest airport in Dubai early Wednesday after a backup system needed to deal with heavy fog failed, forcing airlines to divert dozens of planes.
ST. LOUIS-- Farmers in a stretch of Illinois where most of the nation's pumpkins are grown say their crop looks relatively smashing and is likely to be one of the few successes in a year when severe drought baked most of the nation's heartland. But John Ackerman said most of the pumpkins he planted fared "fantastic" for a simple, single reason: Pumpkins dig dry weather.
TOKYO-- Toyota Motor Corp. is recalling 7.43 million vehicles in the U.S., Japan, Europe and elsewhere around the world for a faulty power-window switch _ the latest, massive quality woes for Japan's top automaker.
FALMOUTH, Jamaica-- Tourists emerge by the hundreds from a towering, 16- deck megaship docked at the Caribbean's newest cruise port. That's not the way townspeople in the old Jamaican sugar port of Falmouth were told it would be.
By early afternoon in Europe, benchmark oil was down 28 cents to $92.11 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose $3.06 on Tuesday to finish at $92.39 per barrel on concerns about supplies from the Middle East and the North Sea.
BANGKOK-- Worries about Europe's debt crisis, signs of weak global growth and expectations of lower U.S. corporate earnings sent most Asian stock markets down Wednesday.
NEW YORK-- Accuride's stock plunged to an all-time low on Wednesday as the company said it would not do as well as it had thought this year. THE SPARK: Accuride, which makes parts for commercial vehicles, previously predicted a full-year loss of 5 cents to 12 cents per share.