WASHINGTON— When Volkswagen's top American executive heads to Capitol Hill this week, he probably won't be able to count on longtime allies among the lawmakers investigating the company's emissions cheating scandal. The world's No. 1 automaker has a modest political footprint in Washington, and that will put Volkswagen Group of America President and CEO...» Read More
NEW YORK-- Shares of LifeLock fell more than 3 percent in its first day of trading as the online provider of identity theft protection services priced its initial public offering below the anticipated range. LifeLock disclosed in a September regulatory filing that it expected the offering of 15.7 million shares to price between $9.50 and $11.50 each.
NEW YORK-- Canadian drugmaker Aeterna Zentaris Inc. said Wednesday that it will conduct a six-for-one reverse stock split to boost its share price and regain compliance with Nasdaq rules.
LOS ANGELES-- James Bond hasn't been sipping martinis and firing his Walther in the game world for nearly as long as he has in movie theaters, but the gadget-loving secret agent's nearly 30- year history spanning more than 20 video games is almost unmatched in Hollywood, where video game tie-ins with the latest blockbusters are commonplace nowadays.
The price of oil is plunging on more evidence of slower growth in China. China says its services sector slowed in September but still is growing. China is a huge importer of commodities like oil so slower growth there could cut into demand for oil.
LISBON, Portugal-- Portugal is tightening its belt another notch, with the government announcing Wednesday steep income tax hikes to reduce the bailed-out country's debt load despite mounting discontent over austerity measures.
LOS ANGELES-- Over the last 50 years, the owners of the James Bond movie franchise have had heart-stopping crises as thrilling as the ones that face their fictional secret agent. "Cubby used to say, `This is the goose that laid the golden egg, keep it safe,'" said Broccoli's youngest daughter, Barbara, now the series' co-producer, in a phone interview from London. "
SOUTH SAN FRANCISCO, Calif.-- Drug developer Rigel Pharmaceuticals Inc. said it priced its public offering of 13.7 million shares of its common stock at $9.50 per share. The South San Francisco, Calif.- based company said it expects the offering's gross proceeds to total about $130 million, before deducting underwriting discounts, commissions, and other expenses.
VERO BEACH, Fla.-- Shares of Javelin Mortgage Investment Corp. fell slightly in their Wednesday debut on the New York Stock Exchange. It is also selling 250,000 shares to the company's chairman, Daniel Staton, and board member Marc Bell for the same price, raising another $5 million. Shares shed 29 cents, or 1.5 percent, to $19.71 in morning trading.
The Natural Gas Supply Association said Wednesday in its annual winter outlook that natural gas prices, which averaged $2.75 per thousand cubic feet between November and March last season, may trend slightly upward for this heating season. Natural gas futures traded at $3.42 in New York Wednesday morning.
CHICAGO-- A federal judge has sentenced a former Chicago Mercantile Exchange trader to three years in prison for his part in a fraud scheme that cost investors $2.3 million. A Chicago judge sentenced 54- year-old Mark Adrian of Delray Beach, Fla., on Tuesday.
NASHVILLE, Tenn.-- The Department of Justice says the country's recession has resulted in an unprecedented rise in investment fraud schemes, and it is holding a regional summit in Nashville on the topic.
CHARLESTON, W.Va.-- Fall has brought falling gas prices to West Virginia. AAA East Central says the average price for a gallon of regular, unleaded gasoline dropped 4.8 cents over the past week to $3.82. Prices range from about $3.73 in Parkersburg to more than $3.95 in Martinsburg.
NEW YORK-- The nation's crude oil supplies declined last week, the government said Wednesday. Crude supplies dropped by 500,000 barrels, or 0.1 percent, to 364.7 million barrels, which is 8.4 percent above year-ago levels, the Energy Department's Energy Information Administration said in its weekly report.
COLUMBUS, Ohio-- The casino set to open Monday in Ohio's capital is testing its operations with an invitation-only demonstration day. The $400 million Hollywood Casino Columbus says proceeds from Wednesday's games will go to five local nonprofit organizations.
RICHMOND, Va.-- Virginia wheat and barley production is down this year, while oat production is up. The Virginia Department of Agriculture and Consumer Services reports that wheat producers averaged 65 bushels per acre this year, down from last year's yield of 71 bushels an acre.
PARIS-- French bank Societe Generale said Wednesday that it was in discussions to sell its Greek subsidiary Geniki to Greece's Piraeus Bank. Shares in Societe Generale, France's second-largest bank, slid immediately after the announcement and were down 1 percent in late trading.
ALBANY, N.Y.-- The Metropolitan Transportation Authority is on the right track fiscally after years of crises forced fare and toll increases that will continue to sting urban and suburban bus and subway riders, New York Comptroller Thomas DiNapoli said Tuesday.
ALBUQUERQUE, N.M.-- Months of wrangling over the best way to curb pollution from a PNM Resources Inc. coal-fired power plant that serves more than 2 million customers in the Southwest have given way to a proposal that could see New Mexico transition to cleaner sources of energy to meet its electricity demands.
NEW YORK-- Shares of Sarepta Therapeutics Inc. nearly tripled in value Wednesday after the company reported positive clinical data for its Duchenne muscular dystrophy drug eteplirsen. Eteplirsen is Sarepta's most advanced drug candidate, and in morning trading the stock jumped $25.70 to $40.69.
OLYMPIA, Wash.-- Washington state is still negotiating with state workers on health benefits and associated costs. Even though a Monday deadline has passed, talks are still continuing. If the coalition of unions and the state reach a deal, the Legislature could approve the extension of the agreement date.