*China manufacturing data contracts at the fastest pace in 3 yrs. SHANGHAI, Sept 1- Chinese stocks gyrated wildly on Tuesday, with main indexes tumbling 5 percent at one point as weak manufacturing data laid bare the daunting challenge faced by Beijing as it races to revive a stumbling economy. Hong Kong stocks also fell, weighed down by weak retail sales data, and...» Read More
The first sign of trouble showed up last Wednesday, when crews noticed loose seats on a plane that had flown from Dallas-Fort Worth International Airport to Vail, Colo. The seats were tightened again that day in Boston. The same plane had to make an emergency landing Monday when seats came loose shortly after takeoff on a New York- to- Miami flight.
NEW YORK-- Standard& Poor's Ratings Services upgraded its rating outlook on Group 1 Automotive Inc. Tuesday, saying that the automotive retailer's credit measures have improved since the recession and may make further gains soon. Group 1' s shares rose 93 cents to close at $61.50. The stock has traded between $33.31 and $61.34 in the past 52 weeks.
NEW YORK-- The Kontinental Hockey League says some of its games will be broadcast in the United States on ESPN3 during the NHL lockout. However, ESPN spokesman Josh Krulewitz said "the agreement is not finalized." Four other games were listed through Oct. 9.
EWING, N.J.-- Antares Pharma Inc. said Tuesday it received a $750,000 milestone payment from its partner Pfizer Inc.. In December 2011 Antares licensed drug delivery technology to Pfizer. Shares of Antares Pharma rose 12 cents, or 2.8 percent, to $4.40 on Tuesday.
The country's largest fertilizer company, Mosaic, said weak demand from China and India have hurt its profits. The S&P 500 index rose 1.26, or less than 0.1 percent, to close at 1,445.75. The S&P 500 is up 5.08, or 0.4 percent.
DETROIT-- Americans found plenty of reasons to buy new cars in September, making auto sales a bright spot in the economy for yet another month. Sales rose for most carmakers, led by big gains at Toyota, Honda and Volkswagen. Gas prices have jumped 14 percent since July 1, and hit $3.79 per gallon at the end of September, a record for that time of year.
NEW YORK-- Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and Nasdaq Stock Market:. MetroPCS Communications Inc., up $2.05 at $13.57. Deutsche Telekom AG, parent company of cellphone carrier T-Mobile USA, said it is in talks to buy smaller rival MetroPCS.
RALEIGH, N.C.-- Dara Biosciences Inc. said Tuesday it has regained compliance with Nasdaq share price rules. The stock returned to closing above $1 on Sept. 14, and has maintained that level for 13 straight sessions. Shares of Dara Biosciences rose 4 cents to end at $1.04 on Tuesday.
THE FERTILIZER REPORT: The country's largest fertilizer company, Mosaic, said weak demand from China and India hurt its profits. EUROPE WATCH: Stocks took a turn lower after Spain's prime minister said that he's not preparing a request for a bailout loan.
NEW VENTURE: Alisher Ali opened Myanmar's first-ever investment bank with $1 million of his own money. By the time Mandalay Capital closed its fundraising last month, Ali had raised $25 million.
HOUSTON-- Two activist groups said Tuesday they sent an email to more than 71,000 Shell Oil employees that pretended to be from a fake company division and provided information about a U.S. Supreme Court case involving the company.
NEW YORK-- Drug and medical device maker Covidien PLC said Tuesday it completed its $100 million purchase of CNS Therapeutics. Covidien announced it was buying CNS on Sept. 24. CNS is now part of Covidien's Mallinckrodt pharmaceuticals business.
WASHINGTON-- The U.S. economy is looking more resilient, thanks in part to encouraging signs for the two most expensive purchases most Americans make: cars and homes. Cheap loans and a bounty of fuel-efficient models enticed people to buy new vehicles at a brisk pace last month.
NEW YORK-- The price of oil fell Tuesday as investors weighed positive U.S. economic news against ongoing concerns about Europe. On the New York Mercantile Exchange:. Benchmark crude fell 59 cents to finish at $91.89 per barrel.
The country's largest fertilizer company, Mosaic, said weak demand from China and India have hurt its profits. Mosaic, Dupont and stocks of other companies in the materials industry fell. Dupont led the Dow lower, sinking 86 cents to $49.50.
MINNEAPOLIS-- The Minnesota Orchestra was called the world's greatest not long ago, welcome recognition for musicians outside a top cultural center. In Minneapolis, the Minnesota Orchestra has already cancelled concerts through Nov. 25 as negotiators argue over a proposal to trim the average musicians' salary by $46,000 a year.
JEFFERSON CITY, Mo.-- Missouri revenues are up 6.6 percent through the first quarter of its budget year. Figures released Tuesday by the Office of Administration show most the growth resulted from a decline in income tax refunds paid to businesses and individuals compared with last year. Missouri's budget year began July 1.
Cenovus Energy Inc. said Tuesday that it has received Canadian court approval for its plans to buy the remaining assets of oil sand exploration business Oilsands Quest for $10 million. The deal includes three oil sands leases in Alberta and Saskatchewan. Cenovus was able to acquire the assets through the liquidation of OIlsands Quest.
RACE TO HARVEST: Soybean prices fell as a fast-paced harvest delivers more supplies to the marketplace. EYES ON SPAIN: Other commodities were mixed after Spain's prime minister said a request for bailout funding isn't imminent.
Resorts has begun a new joint marketing program in which its gamblers and those two other Mohegan-owned casinos in Connecticut and Pennsylvania can use rewards points at any of the three destinations. The company will now let gamblers use their credits at Resorts, as well as Mohegan Sun in Connecticut and Mohegan Sun at Pocono Downs in Pennsylvania.