Top News & Analysis United States


  • BOSTON, Oct 8- Intel Corp's McAfee security division is planning to lay off a "small percentage" of its workforce of about 7,100 employees, a company spokesman said on Monday.

  • CPUC Administrative Law Judge Mark Wetzell decided Monday to put one set of hearings on hold until Oct. 15 to allow PG&E to more quickly reach a settlement with other parties. Democratic Assemblyman Jerry Hill of San Mateo and San Bruno Mayor Jim Ruane had urged the judge to continue open hearings.

  • CANBERRA, Oct 9- Australian shares are likely to lack strong direction early on Tuesday, with support from higher iron ore prices and an improvement in China's services sector countered by losses in copper prices and concerns about the global growth outlook.

  • MINNEAPOLIS-- Famous Dave's of America Inc. on Monday named John Gilbert III the new CEO of the company, replacing Christopher O'Donnell, who served as head of the barbeque restaurant chain since 2008..

  • WASHINGTON-- A private rocket successfully sent a capsule full of cargo zipping toward the International Space Station in a first of its kind delivery for NASA, but couldn't deliver on job No. 2: putting a commercial satellite into the correct orbit. It is the first of a dozen supply runs under a mega-contract with NASA.

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  • Oct 8- An outage that cut phone and data service to Sprint customers in parts of California, Oregon and Washington also grounded some Alaska Airlines passengers on Monday as it knocked the air carrier's reservations system off line.

  • Oct 8- Equity One Inc:. *Entered into a contract to acquire Westwood complex, a 22- acre property. one is located in Bethesda, Maryland.

  • NATICK, Mass.-- Boston Scientific Corp. said Monday it will buy Rhythmia Medical, which makes mapping and navigation systems used in heart surgeries, for up to $265 million.

  • NEW YORK-- A Bernstein Research analyst downgraded Intel Corp. on Monday, foreseeing pricing pressures for the chip maker in the next 12 to 18 months. The analyst, Stacy Rasgon, downgraded Intel to "Underperform" from "Market Perform" and cut his target price to $20 from $24.

  • OKLAHOMA CITY-- Continental Resources Inc. said Monday that it plans to triple production and proved reserves of oil and natural gas liquids in the next five years on its leased properties in the U.S.

  • *Current record was set in 1960 by a U.S. Air Force colonel. Oct 8- An Austrian adventurer is preparing to skydive from a balloon flying 23 miles above New Mexico on Tuesday, seeking to break a long-standing altitude record- and the sound barrier- in the process. If the weather is good, the balloon will be launched at dawn on Tuesday, around 7 a.m. New Mexico time.

  • *Marathon to purchase refinery for $598 million. HOUSTON, Oct 8- Marathon Petroleum Corp is buying BP Plc's Texas City refinery, the site of a deadly industrial accident, in a $2.5 billion deal that will make it the No. 4 U.S. refiner with a bigger potential slice of lucrative exports.

  • *Alaska Airlines and Horizon Air flights delayed due to internet outage. *Fiber network cable severed in Seattle area significantly delayed Alaska. Airlines, Horizon Air flights today.

  • General Motors is moving past layoffs and the Motor City's rusty, low-tech image. "The companies that build the software themselves in general are going to have an advantage," says David Kirkpatrick, author of a book about Facebook and CEO of Techonomy Media Inc., a New York firm that specializes in setting up technology conferences. "

  • *Bluebird card available next week at Walmart stores, online. *Amex gets access to 4,000 stores, spending by under-banked* Wal-Mart brings low-pricing to card accounts* Average American pays $200 annually in fees* Shares of rival card companies NetSpend, Green Dot tank By Martinne Geller and David Henry.

  • GREENVILLE, S.C.-- Technology products distributor ScanSource Inc. said Monday that its revenue for its most recent quarter may miss market expectations. ScanSource's forecast falls short of the $760.1 million that analysts polled by FactSet forecast. Shares of ScanSource, based in Greenville, S.C., fell 41 cents to close at $31.21.

  • CHICAGO-- United Airlines says that passenger traffic and a closely watched revenue statistic both declined in September, compared with the same month last year. United Continental Holdings Inc. said Monday that passenger revenue per available seat mile fell by 2.5 to 3.5 percent last month.

  • BOSTON, Oct 8- Intel Corp's McAfee security division is planning to lay off a "small percentage" of its workforce of about 7,100 employees, a company spokesman said on Monday. McAfee spokesman Ian Bain said he could not provide more details about the job cuts, which he disclosed in response to an inquiry from Reuters.

  • IRVINE, Calif.-- Edwards Lifesciences Corp. shares fell nearly 16 percent in after-hours trading Monday following a disappointing third-quarter revenue forecast Monday, including weak sales of its Sapien heart valve. Edwards said government austerity measures hurt its revenue from Europe while U.S. sales are constrained by Medicare coverage issues.