SHANGHAI, April 19- PSA Peugeot Citroen and China's Dongfeng Motor Group will spend 200 million euros to develop a technology platform for small cars that will help to give them more products to boost sales in southeast Asia and China. The joint venture aims to sell 800,000 vehicles this year in China and 1.5 million vehicles by 2020, up from over 700,000 in 2014,...» Read More
WASHINGTON-- Supreme Court justices sharply questioned the University of Texas' use of race in college admissions Wednesday in a case that could lead to new limits on affirmative action. Justice Anthony Kennedy, whose vote could be decisive, looked skeptically on Texas' defense of the program. "
House Majority Leader Tom DeLay told an appeals court Wednesday that the onetime GOP heavyweight's efforts to influence Texas elections may have been distasteful but weren't illegal.
NEW YORK-- True Religion Apparel's stock soared on Wednesday as investors embraced the clothing company's announcement that it is considering putting itself up for sale. THE ANALYSIS: Dorothy Lakner of Caris& Co. said in a client note that there's been speculation in the past that True Religion might look to sell itself, but believes that this time it's for real.
BRUSSELS-- A European Union official warns that time's running out to create a system to prevent Internet users from having every click recorded. Neelie Kroes, EU digital agenda commissioner, plans to warn in a speech Thursday that efforts to create a "do not track" Internet header aren't succeeding.
RICHMOND, Va.-- Virginia is easing drought advisories for central Virginia and the northern Piedmont region, but keeping a watch in place for the Roanoke River region. The region includes 10 counties, from Appomattox to Prince Edward, and the cities of Colonial Heights, Petersburg and Hopewell.
BELLINGHAM, Wash.-- The Bonneville Power Administration has proposed a 10- year power sales agreement with Alcoa Inc.' s Intalco smelter in Ferndale. The Portland- based federal power marketing agency is taking public comment on the proposal through Nov. 7. The BPA says the deal should help maintain the 625 jobs at the smelter six miles north of Bellingham.
John Lynch said Wednesday that New Hampshire is in pretty good financial shape after achieving a $13.8 million budget surplus in the fiscal year that ended June 30. He said the surplus was notable given that there was a $22 million shortfall in Medicaid enhancement tax revenues and a $12 million drop in tobacco tax revenue.
The euro rose to $1.2888 in afternoon trading from $1.2880 late Tuesday. The British pound slipped to $1.6003 from $1.6004. The dollar rose to 78.24 Japanese yen from 78.22 yen.
Shares of Darling International slumped 7 percent Wednesday following a downgrade by a BMO Capital Markets. THE ANALYSIS: Zaslow lowered his 2012 earnings estimate to $1.17 from $1.21 and his 2013 estimate to $1.40 from $1.55. SHARE ACTION: Darling International Inc. fell $1.14 to $16.41 by midday.
MADRID-- The Spanish Red Cross on Wednesday launched its first-ever campaign for donations to help Spaniards hit by economic crisis, in a sign of how needy this nation has become. The Red Cross and other aid groups say soaring unemployment and government austerity measures are leaving tens of thousands of people in need of food and financial help.
NEW YORK-- Stocks are down again on Wall Street, this time because of the prospect of weaker earnings for Alcoa and Chevron. Just before the lunch hour, the Dow Jones industrial average is down 67 points at 13,406. The Standard& Poor's 500 index is down three at 1,437. And the Nasdaq composite index is off three at 3,061..
PARIS-- French and Swiss prosecutors say they've dismantled a major drug trafficking and money laundering network, arresting 20 people on Wednesday, including employees of a finance company and major international bank.
NEW YORK-- Home Depot, the largest U.S. home-improvement retailer, should benefit substantially from the expected housing market recovery, according to an Oppenheimer analyst. But until the recovery starts to gain traction, Home Depot's shares are expected to trade sideways, the analyst said Wednesday, and downgraded the stock.
MAYFIELD VILLAGE, Ohio-- Auto insurer Progressive said Wednesday that its third-quarter net income jumped 84 percent, boosted by gains on its investments. Progressive earned $277 million, or 46 cents per share, in the three months ended in September, up from $150.7 million, or 24 cents per share, in the same quarter last year.
BAGHDAD-- Iraq officially stepped back on Wednesday from its ambitious plans to more than triple its oil production by 2017, but it remains more optimistic than the world's leading global energy monitor about how fast and how high it can boost output.
PARIS-- The leaders of France and Spain said Wednesday that the 17 countries that use the euro already have all the tools they need to solve their debt crisis and now must put their promises into action.
ABUJA, Nigeria-- Nigeria's president proposes a $29.3 billion federal budget in 2013 for the oil-producing nation, predicting a slight increase in the crude produced each month. President Goodluck Jonathan presented his budget Wednesday to a rare sitting of both chambers of the nation's National Assembly.
WASHINGTON-- As Bain& Co. head in the early 1990 s, Mitt Romney presided over the corporate strategy firm's expanding operations into China and Russia, helping their initial attempts to move into the world's free market system. In his campaign, China and Russia are prime targets for criticism.