SAO PAULO, June 3- Moody's Investors Service expects to decide whether to downgrade Brazil's credit rating only after its analysts meet with the country's policymakers in the third quarter, said senior analyst Mauro Leos at the rating agency on Wednesday. The agency assigned a negative outlook to Brazil's Baa2 credit rating last September, warning it could...» Read More
FAT CHANCE: Government investigators warn that dozens of diet and immune system supplements are illegally labeled and lack the recommended scientific evidence to back up their purported health claims.
NEW YORK-- Nasdaq and other exchanges cancelled some trades of Kraft Foods Group Inc. Wednesday following an unusual spike after the market opened. Kraft's shares opened at $45.55 before surging to $58.54. The issue comes only days after Kraft Foods and former Kraft snack business Mondelez International began trading as two separate companies.
The market's gains were held in check by a slump in energy stocks and Hewlett-Packard's 13 percent plunge. "The price action today seems boring, but the economic data is pretty strong," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research.
WILMINGTON, Del.-- Primedia Inc. is asking a Delaware judge to dismiss a shareholder lawsuit challenging the acquisition of the Georgia- based house and apartment search guide publisher by private investment firm TPG Capital for $316 million.
TEHRAN, Iran-- Iranian authorities used aggressive measures Wednesday in an attempt to halt the nosedive of the country's currency, making arrests, vowing to stamp out sidewalk money changers and warning merchants against fueling the mounting public anger over the economy.
Benchmark oil lost more than 3 percent Wednesday on more evidence of slower growth in China, the world's second-largest oil consumer behind the U.S. Airline stocks tend to trade inversely to the price of oil because fuel is one of the airlines' largest expenses. Shares of US Airways Group Inc. led the sector's gains Wednesday.
WHERE THE GRASS IS GREENER: Ranchers from Missouri to New Mexico have started cutting neighbors' fences, leaving gates open so their cattle can graze on greener pastures or even stealing hay as they contend with the worst drought in decades. IN THE WEEDS: It's not clear just how many grass thefts have happened since most aren't reported.
NEW YORK-- Prices for energy and copper fell Wednesday following the latest signs that China's economy is slowing down. Copper, another commodity that is highly sensitive to changes in China's economy, fell 1.7 cents to $3.7840 a pound.
WASHINGTON-- Former Secretary of State Henry Kissinger is sharply criticizing both U.S. presidential candidates for appealing to American suspicions of China in their campaigns. Kissinger said Wednesday the candidates have used "extremely deplorable" language, labeling China a cheat.
WILMINGTON, Del.-- A woman who gave birth to boxing promoter Butch Lewis' daughter after his death is seeking money from his estate. Louise Cummings had the baby in April, nine months after Lewis died at age 65. She wants the child declared a beneficiary of the estate and requested interim payments of $3,250 a month until the case is resolved.
KINGSTON, Jamaica-- Jamaica has agreed to waive a bauxite levy at Russian aluminum giant UC Rusal's last operational plant on the island. As part of the one-year concessionary pact, Rusal will maintain its workforce of 600 workers at its Ewarton Alumina Refinery. Jamaican Energy Minister Phillip Paulwell says this will be a $100 million investment.
Montpelier Re Holdings Ltd., a provider of reinsurance and other specialty lines, said Wednesday that it priced its offering of $300 million of senior notes due 2022.. The Bermuda- based company said the notes, which are due Oct. 15, 2022, will have an interest rate of 4.7 percent per year and will be issued at 99.682 percent of par value.
WASHINGTON-- A new book says President Barack Obama hoped to put Osama bin Laden on trial, showing the U.S. commitment to due process under law, if the al-Qaida leader had surrendered during a U.S. raid in Pakistan last year. A team of Navy SEALs raided bin Laden's compound in Abbottabad, Pakistan in May 2011 and killed bin Laden.
NEW YORK-- Best Buy on Wednesday named an Expedia executive as head of its e-commerce operations. Scott Durchslag, 46, will be senior vice president of Best Buy and president online and global e-commerce, effective Monday. He will be responsible for all of Best Buy's global e-commerce channels, including BestBuy.com and mobile commerce.
The market's gains were held in check by a slump in energy stocks and Hewlett-Packard' s 11 percent drop. "The price action today seems boring, but the economic data is pretty strong," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research.