Nov 27- In the race to compete with low-cost, online algorithm-based investing services, financial advisers are constantly bombarded by sales pitches about the latest and greatest in financial technology. In North America, adviser spending on digital tools for managing wealth will reach $2 billion this year and swell to $5 billion by 2017, according to...» Read More
The slide comes on the five-year anniversary of record high closes for the Dow and S&P 500. After the closing bell, Alcoa becomes the first major U.S. company to report third-quarter results. Investors expect overall earnings to decline for S&P 500 companies.
NEW YORK-- Airport services provider ABM Industries Inc. said Tuesday that it reached a deal to buy Air Serv Corp. for about $158 million in cash. The company provides facility management services for airlines and freight companies at over 50 airports throughout the U.S. and United Kingdom. ABM shares fell 1 cent to $18.29 in morning trading.
The amusement park in Arlington on Tuesday announced plans to implode the 200- foot-tall Texas Chute Out. Park officials say the implosion will happen Wednesday afternoon but Arlington city officials have asked that the exact time not be made public. Six Flags Over Texas is operated by Six Flags Entertainment Corp..
ATHENS, Greece-- German Chancellor Angela Merkel got a hostile reception from many ordinary Greeks Tuesday when she flew into Athens on her first visit to the country since its debt crisis erupted three years ago.
CHICAGO-- Grain prices mostly rose Tuesday in early trading on the Chicago Board of Trade. Wheat for December delivery rose 11.75 cents to $8.7275 a bushel; December corn rose 4 cents to $7.46 a bushel; December oats were unchanged at $3.7050 a bushel; while November soybeans jumped 14 cents to $15.65 a bushel.
NEW YORK-- Penn Virginia's stock declined more than 14 percent Tuesday after the oil and gas company announced a public stock offering and preferred equity offering. THE SPARK: Penn Virginia said Monday that it is offering 12 million shares of its common stock and $50 million in depositary shares.
BEIRUT-- An official said Tuesday that an employee of Lebanon's national airline MEA was fired after a passenger complained in a social media campaign that the worker humiliated travelers from the Philippines at the Beirut airport and told them over the loudspeaker, "Filipino people, stop talking."
NEW YORK-- A Citi analyst on Tuesday upgraded Interpublic Group of Cos. to "Buy" from "Neutral," saying that the company is poised to rebound next year after a tough 2012.. THE BACKGROUND: Interpublic, along with other advertising companies, had a rough time this year.
BOSTON-- Gasoline prices in Massachusetts have risen four cents in the past week. AAA Southern New England reports Tuesday that a gallon of self-serve, regular is selling for an average of $3.88. The cost in Massachusetts is seven cents above the national average, eight cents higher than a month ago and 47 cents higher than at the same time last year.
CHARLESTON, W.Va.-- A lawsuit over Cobalt Coal Co.' s alleged failure to pay mining royalties may soon be dismissed. Cobalt operates the mine featured on Spike TV's one-season reality show "Coal." In August, Encoal Energy and Gopher Land Services sued Cobalt in U.S. District Court in Charleston.
NEW YORK-- Wal-Mart is testing a same-day delivery service in select markets for customers who buy popular items online during the holiday shopping season. The tests, which started this month, are taking place in northern Virginia, Philadelphia, Minneapolis and San Francisco and San Jose, Calif. About 5,000 items will be available for the same-day service.
LAS VEGAS-- Home prices in the Las Vegas area are up for the eighth month in a row, while the number of homes sold in September is down from a year ago. The Greater Las Vegas Association of Realtors reports Tuesday that the median price of a single-family home sold in September was $140,000, up 1.4 percent from August and nearly 14 percent from last September.
AUGUSTA, Maine-- The state of Maine is accepting letters of Intent for the possible use of state-owned Interstate 95 and I-295 as corridors for transmitting electricity. State energy Director Ken Fletcher says Maine's Energy Infrastructure Interagency Review Panel is accepting the proposals.
TUCSON, Ariz.-- Researchers at the University of Arizona have won a $1.4 million grant to study the occupational and environmental health effects of underground mining equipment that runs on biodiesel-blend fuels. The university says mining operators are shifting from diesel to biodiesel-blend fuels in a bid to lower exposure to pollutants.
LANSING, Mich.-- The state's Pure Michigan tourism campaign is highlighting hunting and fishing opportunities in the state with a new digital media campaign. The focus will be on fishing through Oct. 22. Hunting ads will then start running until Dec. 5.
NEW ORLEANS-- UnitedHealth Group Inc. and the Louisiana Alliance of Boys& Girls Clubs are bringing a 12- month program to help obese and overweight children lose weight. The classes are only for families on the company's Medicaid plan in the New Orleans area. Ann K. Logarbo, chief medical officer for UnitedHealthcare Community Plan of Louisiana.
RIYADH, Saudi Arabia-- Saudi Arabia's oil minister said Tuesday his country has the ability to meet existing and future demand for oil, seeking to alleviate concerns about supply and cut prices. Brent crude, which is used to price international varieties of oil, was trading above $113 a barrel in London on Tuesday.
CHICAGO-- ComEd has started an energy efficiency program that is taught by people with developmental disabilities for those with similar issues. ComEd is partnering with eight nonprofit organizations in Chicago and the suburbs that work with the developmentally disabled. ComEd is part of Chicago- based Exelon Corp..
MADRID-- Spain's economy minister played down the International Monetary Fund's forecast that the Spanish economy will contract by 1.3 percent next year _ more than double its previous predictions _ saying Tuesday that the forecast is not written in stone.