Wholesale inventories drop for 12th straight month in Aug.; sales rise by most since June 2008WASHINGTON — Businesses reduced inventories at the wholesale level for a record 12th consecutive month in August, often evidence that companies are trimming orders to factories, which helped depress economic output during the recession. But in an encouraging sign, sales at the wholesale level jumped by the largest amount in 14 months. Retail recovery at hand? Stores report September sales gain, breaking 13-month losing streakNEW YORK — The nation’s stores saw their first sales gain in 14 months in September, a sign of life from shoppers that fuels some hope for the holiday shopping season. Climactic Senate Finance committeevote scheduled Tuesday on 10-year, $829B health care billWASHINGTON — The top Senate Democrat says the final committee vote on health care legislation will take place next week. Stocks open higher after surprising profit report from Alcoa, better jobless claims numbersNEW YORK — Stocks have resumed their climb after Alcoa kicked off earnings season with an unexpected profit and the government reported a drop in initial claims for jobless benefits. Indians to spend more this Diwali, shows a surveyNEW DELHI - Despite the economic slowdown, Indian consumers are upbeat about spending this festive season, according to a survey. Stocks open higher after surprising profit from Alcoa, drop in initial jobless claimsNEW YORK — Stocks are higher after Alcoa kicked off earnings season with an unexpected profit and initial claims for jobless benefits fell more than expected. Son of slain 100-year-old woman says mom, strangled in Mass. nursing home, was happy, activeDARTMOUTH, Mass. — A 100-year-old woman found strangled in a nursing home with a plastic bag over her head loved living at the home, where she happily played bingo and doled out daily hugs to other residents, her son said Thursday. Oil above $70 in European trade on weaker dollar, mixed inventory, fresh Nigeria riskOil prices rose above $70 a barrel Thursday amid a weakening U.S. dollar, mixed crude inventory data and a decision by Nigeria’s main rebel group to resume attacks next week on the country’s oil industry. Analysis: Obama’s problems mounting around globe, overshadowing a few bright spotsWASHINGTON — The woes keep piling up for President Barack Obama. Birla Corp on Forbes’ listKOLKATA - Birla Corp, the flagship company of the MP Birla Group, has been included in the “Best Under a Billion” list by the Forbes Magazine. JSW Steel plans to raise Rs.6,600 cr for Bengal projectKOLKATA - JSW Steel, part of the Sajjan Jindal-owned JSW Group, aims to raise Rs.6,600 crore through debt for financing its Rs.11,000-crore steel project in West Bengal’s Salboni, a senior official said here Thursday. Tata-Docomo plans research and development centre in IndiaKOLKATA - Telecom major Tata Teleservices and Japan-based Docomo are planning to jointly set up a research and development facility in India, a top official said Thursday. Target posts decline in key sales metric for September but tops analyst estimatesMINNEAPOLIS — Target says a key sales measure dipped 1.7 percent in September but beat analyst estimates. The result led the discount retailer to predict third-quarter earnings per share above Wall Street’s forecast. Cash-strapped Ala. county to reopen 2 courthouses; more than 650 headed back to workBIRMINGHAM, Ala. — Alabama’s most populous county is reopening two courthouses and more than 650 employees will return to work after 10 weeks of unpaid leave amid a severe budget crisis. Stock futures climb after surprising profit from Alcoa, drop in initial jobless claimsNEW YORK — Stocks appear headed to a sharply higher opening Thursday after Alcoa kicked off earnings season with an unexpected profit and weekly jobless claims fell more than expected. New jobless claims drop more than expected to 521,000, lowest level since JanuaryWASHINGTON — The number of newly laid-off workers filing first-time claims for jobless benefits fell to the lowest level since early January, as layoffs eased a bit amid a fledgling economic recovery. European Central Bank, Bank of England leave interest rates unchangedFRANKFURT — The European Central Bank and the Bank of England both left their key interest rates unchanged Thursday at record lows. Bilimoria keen to pay back 70 mn pounds to creditorsLONDON - Cobra Beer founder and chairman Lord Karan Bilimoria has vowed to spend several years repaying creditors 70 million pounds after his company went into a pre-pack administration earlier this year. Emirates Airline to strengthen Kerala operationsTHIRUVANANTHAPURAM - Dubai-based Emirates Airline is planning to expand its Kerala operations by adding nine more services per week by Dec 1, a senior official said here. Retailers report September sales declines, though many results come in better than expectedNEW YORK — A late Labor Day and delayed school openings offered some relief to merchants in September, helping to boost sales above Wall Street expectations. But spending still remains tepid as consumers focused on necessities amid job worries and tight credit. European Central Bank leaves main interest rate unchanged at 1 percentFRANKFURT — The European Central Bank left its key interest rate unchanged at 1 percent on Thursday. Sensex ends flat as investors sell IT, telecom scrips (Roundup)MUMBAI - A key Indian equities index fell sharply towards the closing bell Thursday to end flat as heavy selling in blue chip IT and telecom scrips dragged down the benchmark index from its intra-day high. Retailers report sales declines for September as shoppers worry about jobs, tight creditNEW YORK — Early September reports from retailers show weak sales as shoppers cut back on fall clothing purchases amid worries about jobs and tight credit. Arun Sarin rejoins private equity firm KKRLONDON - Former Vodafone chief executive Arun Sarin has rejoined Kohlberg Kravis Roberts (KKR) as a senior adviser, according to the New York-based private equity company he quit six years ago. Hosing sector demand to go up by 30 percent: FICCINEW DELHI - The residential sector will lead the revival of India’s reality industry as it will see a surge in demand by 30 percent by 2009-end, according to an industry lobby survey. Taliban car bomber kills at least 17 near Indian Embassy in Kabul
Jet Airways chief executive resignsMUMBAI - Wolfgang Prock-Schauer has resigned as the chief executive of Jet Airways, effective Oct 15, the company said Thursday. Italy’s Berlusconi vows to defend himself on TV, in court after immunity law overturnedROME — Italian Premier Silvio Berlusconi said Thursday he will go on TV and appear in courtrooms to prove that corruption and tax fraud charges in two trials against him are false. Large scale corruption detected in Bihar local bodiesPATNA - Large scale financial irregularities and corruption were exposed in Bihar’s panchayati raj institutions and urban local bodies in the latest audit report of the examiner of local accounts. PepsiCo 3rd-quarter profit rises 9 percent on cost-cutting efforts even as sales declineMILWAUKEE — PepsiCo Inc. said Thursday that its fiscal third-quarter profit rose 9 percent, in part on cost-control efforts, even as revenue dropped on weak beverage sales. |
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Taliban suicide attack kills 17 in Afghan capital
