WELLINGTON, Sept 24- New Zealand's Fonterra will likely slash its milk purchase price to a six-year low on Wednesday, reviving margins while dealing a blow to farmers and the economy of the world's largest dairy exporting nation.» Read More
NEW YORK-- Shares of Cree Inc. jumped Wednesday after the LED product maker reported solid fiscal first-quarter results and offered a second-quarter forecast close to Wall Street estimates. The light-emitting diode products maker said net income rose 26 percent in the first quarter, to $16.1 million, or 14 cents per share.
SAN BERNARDINO, Calif.-- Federal regulators are looking into the finances of San Bernardino as the city makes its way through bankruptcy proceedings. The U.S. Securities and Exchange Commission has launched an informal inquiry, the Los Angeles Times reported Wednesday.
Apollo Group Inc.' s shares plunged Wednesday after the for-profit education company reported a disastrous fourth-quarter and announced plans to close some of its University of Phoenix schools. THE SPARK: Apollo Group reported late Tuesday that its fourth-quarter profit fell 60 percent due to higher costs and declining enrollment.
LOS ANGELES-- A stronger than expected start to movie theater attendance in the fourth quarter and a smaller decline in the third quarter than forecast prompted a Nomura analyst to tweak his profit estimate for Regal Entertainment Group on Wednesday.
BOSTON-- Satcon Technology Corp. on Wednesday filed for Chapter 11 bankruptcy protection following years of financial struggles and a severe downturn in the solar power industry.
NEW YORK-- An analyst downgraded PNC Financial Services' rating on Wednesday, saying the bank's third-quarter net interest margin compressed more than expected and its preferred dividends will likely rise considerably next year.
TUNIS, Tunisia-- Tunisia's journalists are holding a daylong strike to protest what they call government interference. Several hundred journalists gathered Wednesday outside union headquarters in the capital of Tunis, chanting for freedom of the press.
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SAN CARLOS, Calif.-- Check Point Software Technologies Ltd. said Wednesday that its third-quarter net income and revenue grew thanks to growing demand for its Internet security software.
LAGUNA NIGUEL, Calif.-- Hall of Famer Ozzie Smith is planning to auction his 13 Gold Gloves and a pair of World Series rings he received from the St. Louis Cardinals in retirement.
SEATTLE-- King County Executive Dow Constantine and Seattle Mayor Mike McGinn signed legislation Tuesday on the funding plan for construction of an arena that could be used to lure the NBA back to Seattle. Other investors include Microsoft Chief Executive Steve Ballmer and two members of the Nordstrom department store family.
TORONTO-- The NHL has released details of its latest collective bargaining proposal to the public. In an unprecedented move, the league has published the documents it handed over to the NHL Players' Association on Tuesday in an attempt to save a full 82- game season and end the third lockout of Commissioner Gary Bettman's tenure.
RALEIGH, N.C.-- North Carolina's highest court is deciding whether the state can outlaw video sweepstakes parlors as gambling halls, or whether the video screens give the owners constitutional free-speech rights.
BRUSSELS-- Europe is considering limiting the amount of food-based biofuels that can count toward its renewable fuel targets while a drought in the U.S. has pushed up food prices worldwide and millions around the world go hungry.
A surprisingly strong housing report is pushing the stock market mostly higher even as weak earnings reports from Intel and IBM weighed on the Dow Jones industrial average. IBM's sales fell below Wall Street's expectations, and Intel warned that sales of personal computers will likely remain weak during the holiday season.
LESS STIMULATING: The likelihood that the Bank of England might approve more economic stimulus next month decreased on Wednesday as rate-setters disagreed on the program's effectiveness.
MONTEVIDEO, Uruguay-- Senators in Uruguay were debating Wednesday whether to legalize abortion, a groundbreaking step in Latin America, by accepting a compromise measure that has frustrated both sides of the bitter abortion debate.
NEW YORK-- The shares of at least four homebuilders hit new highs and construction materials companies got a boost as well Wednesday from the release of a new report showing that U.S. builders started construction on homes in September at the fastest rate since July 2008, another sign of a recovering housing market.