×

Top News & Analysis United States

  • Benchmark oil fell 21 cents Friday to $91.86 per barrel in New York. On Friday, the International Energy Agency issued a new report predicting slower growth in demand for oil over the next five years. Friday's decline in the price of oil eroded some of the gains from earlier this week, when tensions between Syria and Turkey raised worries about supplies.

  • GM and Peugeot both declined to comment on the report, which also said the U.S. automaker could inject more cash into the joint venture. " We haven't commented on previous reports and we're not going to on this one, " Peugeot spokeman Jonathan Goodman said.

  • Hundreds of workers and a lot of heavy machinery is involved in the project, but Thursday's accident was the first serious one reported since construction began in 2009, said Mark Littman, spokesman for the Los Angeles County Metropolitan Transportation Authority, which is overseeing the project.

  • NEW YORK, Oct 12- Antonio "Tony" Mendez is the rarest of creatures: A former spy who has come out of the woodwork. His story is the subject of Ben Affleck's new film, "Argo," released in the United States Friday, and tipped to feature in Hollywood's awards season.

  • *Wells Fargo weighs on financials. The Thomson Reuters/ University of Michigan's preliminary October reading on consumer sentiment rose to 83.1, well above the 78 forecast for the index as optimism about the economy improved. Wells Fargo, the biggest U.S. home lender, dropped 2.5 percent to $34.40.

  • By Maya Dyakina and Zlata Garasyuta. MOSCOW, Oct 12- Russian stocks ended the week in the red with miners pressured by concerns over the global economic outlook and as investors stocked up with cash ahead of public share offerings. Metal and mining companies were in the firing line, with Novolipetsk Steel.

  • Max Baucus and Jon Tester said residents of Libby have grown frustrated waiting for a pending risk study to be completed. The company mined asbestos-containing vermiculite in Libby for decades. They blasted Grace for weighing in against the EPA proposal and alleged company officials had "traded profits for lives" in Libby.

  • *FDA staff found 3 concerns, but safety restrictions not needed. "There was, on a consensus basis, a little apprehension about what the safety questions would be and these documents make it pretty clear that the FDA is not overly concerned or views these risks as significant," McNicoll, Lewis& Vlak analyst Ed Arce said.

  • Oct 12- Eastman Kodak Co said it will begin discussions with various creditor groups on a reorganization plan to emerge from bankruptcy protection. Kodak said there is interest from various parties in its commercial imaging business and interest among several potential lenders to finance the business.

  • Rating Action On Sept. 21, 2012, Standard& Poor's Ratings Services affirmed its' Api' counterparty credit and financial strength ratings on Federated Life Insurance Co.. Based in Owatonna, Minn., FLIC is a wholly owned subsidiary of Federated Mutual Insurance Co., and licensed in 48 states and the District of Columbia.

  • Rating Action On Sept. 21, 2012, Standard& Poor's Ratings Services affirmed its' Api' counterparty credit and financial strength ratings on Farm Bureau Life Insurance Co. of MI. Based in Lansing, Mich., FBL of MI is an indirect subsidiary of Michigan Farm Bureau Group. Farm Bureau Life Insurance Co. of MI.

  • OLYMPIA, Wash.-- The group fighting to overturn Washington's gay marriage law started running its first TV ads in the state on Thursday. Referendum 74 asks voters to either approve or reject the state's gay marriage law that was passed by the Legislature and signed by Gov.

  • Oct 12- Shares of LinnCo LLC, a company set up to buy a stake in U.S. oil and gas producer Linn Energy LLC, rose as much as 3 percent on their debut, a day after the company priced its offering at $36.50 per share.

  • NEW YORK-- Shares of Lexicon Pharmaceuticals Inc. rose Friday after the company reported new clinical study data for its potential drug telotristat, which treats a condition caused by tumors in the gastrointestinal tract. Lexicon shares gained 12 cents, or 5 percent, to $2.51 in morning trading.

  • THE PURCHASE: Ecolab Inc. is buying specialty chemical company Champion Technologies in a cash-and-stock deal valued at approximately $2.2 billion. THE DETAILS: The cleaning, food safety and pest-control services company said Friday that it will pay approximately $1.7 billion in cash and issue about 8 million shares of its stock as part of the acquisition.

  • Two people familiar with the negotiations said F1 was in talks with NBC for U.S. broadcast rights and the contract would not be renewed with Speed. NBC did not immediately respond to a request for comment, nor did a spokesman for Speed.

  • NEW ORLEANS-- A landfill executive awaiting trial on charges he conspired with his brother-in-law to embezzle nearly $1 million from a New Orleans- based construction management company was indicted Thursday on new charges stemming from an alleged tax fraud scheme.

  • Oct 12- Wells Fargo& Co reported record quarterly profit on Friday on a surge in mortgage lending, but revenue and a key banking measure fell short of analysts' estimates, sending shares down 3.3 percent. Wells Fargo posted third-quarter earnings of 88 cents per share, topping the analysts' consensus estimate of 87 cents, according to Thomson Reuters I/B/E/S.

  • *Worries persist over whether Spain will request aid. Persistent worries on whether Spain will ask for a full-blown bailout to help its struggling economy also fed safety bids for Treasuries, analysts said.

  • HONOLULU-- A rail project shut down by court order will cost Honolulu more than $114 million, according to the head of the Honolulu Authority for Rapid Transportation.