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  • *Developer Caruso won't enter LA mayoral race Friday, 12 Oct 2012 | 12:00 AM ET
  • IMF, World Bank chiefs urge focus on fair growth Thursday, 11 Oct 2012 | 11:41 PM ET

    TOKYO-- Sacrificing growth for the sake of austerity could put the entire world economy in jeopardy, the head of the International Monetary Fund told global financial leaders Friday, calling for medium-term work to bring down debt levels and urgent action to get the unemployed back to work.

  • Asia stocks up as US jobless claims fall sharply Thursday, 11 Oct 2012 | 11:11 PM ET

    Hong Kong's Hang Seng advanced 0.9 percent to 21,182.77 and South Korea's Kospi rose 0.1 percent to 1,935.53. The Commerce Department reported that foreign demand declined for American-made cars and farm goods. One big unknown is Spain and whether the government of the recession-mired country will ask for a financial bailout.

  • Warwick, Seagal among those who owe Calif. taxes Thursday, 11 Oct 2012 | 8:27 PM ET

    SACRAMENTO, Calif.-- Two celebrities are on a notable list in California, but it's not exactly the A-list. It says Warwick, who now lives in New Jersey, owes California $2.6 million. Technology entrepreneur Halsey Minor, of San Rafael, owes the most to the state _ $10.7 million.

  • Mexico passes anti-laundering cash purchases ban Thursday, 11 Oct 2012 | 7:51 PM ET

    MEXICO CITY-- Mexico's Senate passed a bill Thursday banning large cash transactions as part of an effort to fight money laundering that experts estimate may amount to around $10 billion per year in Mexico. It also forbids cash purchases of more than 200,000 pesos for automobiles or items like jewelry and lottery tickets.

  • New Orleans Film Fest opens with 'The Paperboy' Thursday, 11 Oct 2012 | 7:34 PM ET

    NEW ORLEANS-- Louisiana- made films are being shown alongside the work of filmmakers from across the world at the New Orleans Film Festival, which opened Thursday night with a red-carpet showing of the Louisiana- shot thriller "The Paperboy."

  • Investor wants $20 million for Argentine flagship Thursday, 11 Oct 2012 | 7:09 PM ET

    Argentina's government said the ruling violates international norms as well as rulings by judges in the U.S., Germany and France that found Argentine military vessels immune from the seizures.

  • Moody's Analytics sees stronger US economy ahead Thursday, 11 Oct 2012 | 6:43 PM ET

    NEW YORK-- Moody's Analytics' chief economist thinks the U.S. economy could revive next year and cause the pace of growth to roughly double from its current rate by 2014-- unless Washington runs right over the "fiscal cliff" next year. Zandi's brighter outlook for the next two years assumes Congress and the White House tackle "fiscal issues," he writes.

  • Southern auto industry wary of Mexican competition Thursday, 11 Oct 2012 | 6:26 PM ET

    Bill Haslam was asked at the Southern Automotive Conference on Thursday about what steps are being taken to keep investments from moving abroad, especially in light of a recent decision by German automaker Audi to build its first North American plant in Mexico. Audi is a Volkswagen subsidiary.

  • Iron Mountain declares $700M special dividend Thursday, 11 Oct 2012 | 6:22 PM ET

    BOSTON-- Iron Mountain Inc. on Thursday declared a special dividend of $700 million as part of its planned conversion into a real estate investment trust. The dividend will be paid Nov. 21 to shareholders of record on Oct. 22, and shareholders can choose to receive payment in the form of stock or cash.

  • KBR gets Army logistics contract Thursday, 11 Oct 2012 | 6:14 PM ET

    HOUSTON-- Defense contractor KBR Inc. said Thursday that it has been picked as one of the main contractors on a project that gets Army equipment ready for deployment. KBR said that as the prime contractor, it will be able to bid on individual task orders from the Army.

  • United Airlines retreats, drops airfare increase Thursday, 11 Oct 2012 | 6:11 PM ET

    United Airlines said Thursday that it rolled back an increase of $4 to $10 per round trip on many U.S. routes. Delta Air Lines, which had matched the price hike that United started on Tuesday night, dropped prices back earlier Thursday.

  • News Summary: Stumbles cost American Airlines Thursday, 11 Oct 2012 | 5:59 PM ET

    LATE AGAIN: Among the five biggest U.S. airlines, American Airlines had the worst rating for on-time arrivals in September. FLIGHT NUMBERS: FlightStats Inc. says 59.1 percent of American's flights last month were within 15 minutes of their scheduled arrival. Among the biggest carriers, Delta was tops at 88.8 percent and US Airways was next at 87.2 percent.

  • *Money market fund assets fell to $2.562 trillion Thursday, 11 Oct 2012 | 5:58 PM ET
  • Is Penney breaking its 'no coupon' promise? Thursday, 11 Oct 2012 | 5:52 PM ET

    NEW YORK-- Is J.C. Penney breaking its promise to offer no more coupons? In its latest email to customers, the department store chain's CEO Ron Johnson not only offered an update on the recent changes at the chain, but also dangled an incentive to come back: $10 off customers' next purchase.

  • Shares of WR Grace hit all-time high Thursday, 11 Oct 2012 | 5:42 PM ET

    NEW YORK-- Shares of W.R. Grace& Co. hit an all-time high Thursday, a day after an analyst said that the specialty chemicals and materials company is building up its businesses as it prepares to emerge from bankruptcy protection.

  • No bail for man accused in Russian technology sale Thursday, 11 Oct 2012 | 5:39 PM ET

    Magistrate George Hanks Jr. in Houston ordered Alexander Fishenko and two other defendants to federal custody in Brooklyn, N.Y., where they face numerous charges. Fishenko, owner of Houston- based Arc Electronics Inc., and seven of his employees were arrested last week. Another man arrested in Houston, Shavkat Abdullaev, waived the bail request.

  • Quest Diagnostics cutting 400 to 600 jobs Thursday, 11 Oct 2012 | 5:38 PM ET

    MADISON, N.J.-- Medical laboratory operator Quest Diagnostics Inc. said Thursday it will cut 400 to 600 management positions and reorganize its business. Quest expects to take $15 million to $20 million in charges associated with the restructuring and job cuts.

  • Mailing a letter to cost a penny more next year Thursday, 11 Oct 2012 | 5:28 PM ET

    The cash-strapped U.S. Postal Service said Thursday that it will raise postage rates on Jan. 27, including a 1- cent increase in the cost of first-class mail to 46 cents. Currently, the prices vary depending on the international destination, with letters to Canada and Mexico costing 85 cents.

  • Weyerhaeuser raises dividend Thursday, 11 Oct 2012 | 5:25 PM ET

    FEDERAL WAY, Wash.-- Lumber and real estate company Weyerhaeuser Co. boosted its dividend on Thursday and said the housing market appears to be improving. The company will pay a dividend of 17 cents per share on Nov. 30 to shareholders of record Nov. 9.