Economy

Claims about flood-damaged cars aren't true
In the days since Superstorm Sandy, an alarming prediction has flashed across the Internet: Hundreds of thousands of flood-damaged vehicles will ...
Disney 4Q profit in line, revenue misses forecast
The Walt Disney Co. said Thursday that its net income in the latest quarter rose 14 percent thanks to an uptick in revenue driven by higher consumer ...
Priceline negotiates $1.8 billion Kayak deal
The Priceline Negotiator lives after all. The company has struck a deal to buy Kayak Software Corp. for $1.8 billion in a move to expand its online ...
Nordstrom's 3rd-quarter profit rises 15 percent
Nordstrom Inc. reported a 15 percent increase in third-quarter net income, fueled by strong demand of men's shoes, men's clothing and children's ...
Duke Energy 3Q earnings hurt by mild weather
Duke Energy, the nation's largest electric utility by market value, reported stronger-than-expected earnings for the third quarter but company ...
McDonald's sales drop for first time since 2003
McDonald's Corp. is having a tough time stomaching the competition. The world's biggest hamburger chain said Thursday that a key sales figure fell for ...
Groupon revenue growth slows in 3Q, stock down
Groupon Inc., the No. 1 online deals service, failed to show investors on Thursday that its business is growing as quickly as they would like, as it ...
Wendy's sales climb amid transformation push
Wendy's push to remake itself as a higher-end hamburger chain is starting to pay off, with a key sales figure rising for the sixth straight quarter.
Time Warner Cable to auto-credit for Sandy outages
Time Warner Cable, one of the two big cable companies in the New York area, says it will automatically credit customers for outages caused by ...
Air travel thawing out; airlines resume NY flights
Air travel in the New York area is getting back to normal after the second major storm in little more than a week. United Airlines and American ...
Wal-Mart raises stake for holiday season's start
Attention frustrated Black Friday shoppers who can never grab that hot product: Wal-Mart is hoping to relieve some of that anxiety. The world's ...
Next archbishop of Canterbury announcement Friday
The next archbishop of Canterbury will be officially introduced Friday, the British government says, and the expectation is that the new leader of the ...
Finmeccanica Q3 earns triple on cost cuts
Finmeccanica, the Italian aerospace and defense giant, tripled earnings in the third quarter due to cost-cutting, improved margins and better sales ...
Oil price steadies after year's biggest drop
The price of oil is above $85 per barrel, getting back a small part of the big losses from Wednesday. Crude oil is up 73 cents to $85.17 in morning ...
US trade deficit narrows to $41.5 billion
The U.S. trade deficit declined to the lowest level in nearly two years because exports rose to a record high. The gain may not last given the global ...
Microsoft to invest $100 million in Rio IT hub
Microsoft says it is investing $100 million in a new technology center in Rio de Janeiro. The center is to house an advanced technology laboratory, ...
United says Sandy cut Oct. revenue by $90 million
United Airlines said Superstorm Sandy cut its October revenue by about $90 million as it was forced to cancel almost 5,300 flights. That's nearly an ...
Wendy's loss widens amid turnaround push
Wendy's reported a wider net loss for the third quarter that fell short of Wall Street expectations, but a key sales figure rose. The company, which ...
Siemens to cut costs as Q4 profits dip
German industrial conglomerate Siemens said Thursday it was launching a new cost-cutting program and productivity push aimed at saving €6 billion ($7.
Bank of England: no change on rate, stimulus
The Bank of England has left its base interest rate unchanged and has not authorized any additional stimulus measures. Thursday's announcement by the ...
Iraq signs oil deal with Russian-led group
Iraq's Oil Ministry says it has finalized a deal with a consortium led by Russian oil giant Bashneft to search for oil in the country's south.
Olympic security firm loses UK prison contract
The British security company criticized over its failures at London's Olympic Games has lost a contract to run a private jail. G4S acknowledged in ...
German exports drop as European demand sags
The Federal Statistical Office says German exports dropped more than expected in September amid lower demand from the country's euro partners, many ...
US writedown pushes Deutsche Telekom into Q3 loss
An accounting writedown at its T-Mobile USA division sent Germany's Deutsche Telekom AG skidding to a big third-quarter loss of €6.9 billion ($8.
Recovering Commerzbank returns $99M profit in Q3
Commerzbank, Germany's second-largest lender, saw profits held back in the third quarter as interest income declined and costs rose from businesses ...