DETROIT-- After years of struggling in the nascent market for electric cars, battery maker A123 Systems Inc. filed for bankruptcy protection Tuesday. The filing drew criticism from Republicans who claim the Obama administration has wasted millions of taxpayer dollars on alternative energy companies like A123.
BOSTON-- State Street Corp., one of the largest custody banks in the U.S., reported higher net income but a slight revenue decline on Tuesday, saying that while equity markets have improved, its clients are still conservative in their investments.
NEW YORK-- Trading of NPS Pharmaceuticals Inc. shares was halted Tuesday as a Food and Drug Administration advisory panel began discussing NPS' experimental bowel drug Gattex. NPS will discuss Gattex with the FDA's Gastrointestinal Drugs Advisory Committee. NPS Pharmaceuticals shares trade on the Nasdaq Global Market.
Deval Patrick's administration on Monday ordered tighter controls on state spending and hiring but opted not to revise its revenue estimate for the current fiscal year in the face of lagging tax collections.
TARRYTOWN, N.Y.-- A federal hearing that could decide the future of an Entergy Corp. nuclear plant in the New York City suburbs began Monday on a less-than-dramatic note. The hearing was dominated by a highly technical discussion about how to predict where corrosion might occur in the miles of piping at the Indian Point nuclear plant.
He said it would either pay 100 percent of monthly premiums for health insurance for five years or offer $15,000 in cash payments in two $7,500 installments. He said the program would help retiring workers while also saving taxpayers between $18 million and $26 million a year.
CHICAGO-- W.W. Grainger Inc., which sells power tools and other industrial equipment, said Tuesday that its third-quarter net income fell 15 percent, in part because it set aside money for an anticipated settlement related to some government contracts.
EL DORADO, Ark.-- Murphy Oil is splitting in two in order to better focus on the separate tasks of exploration and production, and the sale of gasoline and other goods through its retail locations. Murphy will become an independent oil exploration and production company focused on the U.S., Canada and Malaysia.
WASHINGTON-- U.S. industrial production increased only modestly in September, held back by weak growth in factory output. That followed a 1.4 percent decline in August, which partly reflected precautionary shutdowns before Hurricane Isaac hit the Gulf Coast.
NEW YORK-- Goldman Sachs turned in third-quarter earnings Tuesday that easily beat analysts' estimates, but the bank's mood seemed more cautious than celebratory. Trading for clients in mortgages also propelled Goldman's results higher, echoing what Wells Fargo and JPMorgan Chase reported last week as mortgage refinancing surged.
DAYTONA BEACH, Fla.-- Insurance broker Brown& Brown Inc. said Tuesday its third-quarter net income rose 12 percent, boosted by a jump in commissions and fees. Brown& Brown said its retail division continued to grow, which could mean that economic conditions are improving for its clients. Brown& Brown shares rose 5 cents to $26.35 in premarket trading.
The silver and wood-framed memento was given by President John F. Kennedy to Secretary of Defense Robert McNamara to mark the October 1962 Cuban missile crisis. Sotheby's is opening the collection for public viewing on Tuesday, and the auction is scheduled for Oct. 23.
After the estimated number of Mexicans visiting the city nearly doubled in six years, tourism arm NYC& Co. is ramping up its presence in Mexico City, part of its series of far-flung tourism offices. "We want to be visible and make sure we're top of mind" to Mexican travelers, NYC& Co. chief executive George Fertitta said.
NASHVILLE, Tenn.-- A federal judge on Monday dismissed a case filed by two black men who claimed ABC's "The Bachelor" and "The Bachelorette" discriminated against casting participants of color.
The Hollywood Foreign Press Association, Dick Clark Productions and NBC announced Monday that the pair of "30 Rock" and " Parks and Recreation" stars have signed on to host the 70th annual Golden Globes ceremony after British comedian Ricky Gervais' three-year reign as the show's acerbic emcee.
SEATTLE-- The King County Council and the Seattle City Council gave their final approval Monday to an agreement to build a $490 million basketball and hockey arena in the city, despite the threat of a lawsuit from longshore workers. Mayor Mike McGinn called the votes important steps toward bringing professional men's basketball back to Seattle.
NEW YORK-- A renewed focus on investment returns and continuing market share gains should lead to higher earnings for The Kroger Co., an analyst said Tuesday, as he lifted his rating on the stock to "Buy."
MADISON, Wis.-- Wisconsin's first organized wolf hunt got under way Monday even as animal welfare advocates demanded federal officials return Great Lake wolves to the endangered species list. Mark Dahms, a 54- year-old electrician from Waukesha in suburban Milwaukee, was one of 1,160 people to win the right to buy a license through a state lottery.
KENNEBUNK, Maine-- The first batch of more than 100 men accused of paying a fitness instructor for sex were laying low after police began releasing their names in a small New England town where rumors have run rampant for weeks.
JERUSALEM-- Israel officially opened its election season on Monday as parliament dissolved itself and scheduled a vote for January, plunging the country into a vicious, three-month political campaign. Prime Minister Benjamin Netanyahu boasted of his achievements, while the opposition heckled and insulted him mercilessly.