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Updated 7 minutes ago
Business

US to cut pay for bailed-out bosses

Washington Post - Tomoeh Murakami Tse, Brady Dennis - ‎1 hour ago‎
NEW YORK -- The Obama administration plans to order companies that have received exceptionally large amounts of bailout money from the government to slash compensation for their highest-paid executives by about ...

U.S. Stocks Sound Retreat After Wells Downgrade

Wall Street Journal - ‎41 minutes ago‎
Stocks tumbled into the red in the final hour of trading after banking analyst Dick Bove cut his investment rating on Wells Fargo to "sell" from "hold.

Chinese GDP 'set' to hit target

BBC News - Chris Hogg - ‎31 minutes ago‎
Figures just published suggest the country exceeded its target for economic growth for the first time this year in the third quarter.

GM culture needs "shake-up": ex-U.S. task force chief

Reuters - John Crawley - ‎38 minutes ago‎
WASHINGTON (Reuters) - General Motors Co needs to overcome an entrenched corporate culture and blood new managers as it seeks to recover from its near failure, the former chief of the Obama administration's autos task force said on ...

Fed Beige Book Says Economy Making 'Modest' Gains

Bloomberg - Steve Matthews - ‎4 hours ago‎
Oct. 21 (Bloomberg) -- Federal Reserve district banks identified commercial real estate as the weakest part of the economy, while most saw “stabilization or modest improvements” in areas including housing and manufacturing.

Marketplace business improves; conservative forecast hurts stock

MarketWatch - Dan Gallagher - ‎55 minutes ago‎
SAN FRANCISCO (MarketWatch) -- EBay Inc. reported a drop in third-quarter earnings Wednesday afternoon, though revenue for the quarter came in notably higher than Wall Street's estimates as the company's core online ...

Obama seeks a bigger cut for small businesses

Houston Chronicle - ‎54 minutes ago‎
AP President Barack Obama unveiled plans Wednesday to refocus spending of the government's $700 billion financial bailout away from Wall Street's big financial institutions and toward small businesses on Main Street.

Bets Yuan Will Go Higher Make Bond a Blockbuster

Wall Street Journal - Chester Yung - ‎41 minutes ago‎
HONG KONG -- The Chinese government's first yuan bond sale in Hong Kong met strong demand as investors bid for three times the amount of debt on offer amid hopes for a stronger Chinese currency.

Continental CEO offers prescription for airline industry

Houston Chronicle - Shannon Buggs - ‎1 hour ago‎
The US airline industry needs a stable economy and a reliable regulatory environment to make it more attractive to investors, Continental Airlines CEO and Chairman Larry Kellner said Wednesday.

Plane Lands on Taxiway

New York Times - Matthew L. Wald - ‎47 minutes ago‎
The National Transportation Safety Board said it would investigate the landing before dawn on Monday of a Delta Air Lines flight from Rio de Janeiro to Atlanta on a taxiway at the Atlanta Hartsfield International Airport, ...

Fidelity lets clients trade foreign stocks directly

Reuters - Svea Herbst-Bayliss - ‎33 minutes ago‎
BOSTON, Oct 22 (Reuters) - Fidelity Investments, the world's biggest mutual fund firm, is letting clients buy and sell stocks online in 12 foreign markets at a time when investors want more international stocks to their portoflios.

Boeing to Choose Second Dreamliner Site Within Weeks

Bloomberg - Susanna Ray - ‎7 hours ago‎
Oct. 21 (Bloomberg) -- Boeing Co. will choose between Everett, Washington, and Charleston, South Carolina, for a second 787 Dreamliner assembly plant in the next couple of weeks as it considers diversifying its workforce to avoid strikes ...

GE Oil & Gas Awarded US$400M Contract For Gorgon Development

Wall Street Journal - ‎38 minutes ago‎
MELBOURNE (Dow Jones)--GE Oil & Gas said Thursday it has been awarded a US$400 million contract to deliver liquefied natural gas technology for the A$43 billion Gorgon project of the coast of Western Australia.

BofA to sell SF's First Republic Bank

San Francisco Chronicle - Kathleen Pender - ‎38 minutes ago‎
Bank of America has agreed to sell First Republic Bank of San Francisco to a group of investors including First Republic's management and funds managed by Colony Capital and General Atlantic.

Reports ID Silicon Valley woman as key Galleon witness

San Jose Business Journal - ‎1 hour ago‎
A former Atherton woman is reportedly the key witness to the government's insider trading case involving top tech and hedge fund executives.

Altria Group 3Q profit rises on cost-cutting

The Associated Press - Michael Felberbaum - ‎6 hours ago‎
RICHMOND, Va. - The Marlboro Man roped in a larger portion of the cigarette market even as smokers bought fewer of Altria Group Inc.'s cigarettes in the third quarter.

Regulator wants non-disruptive energy trade limits

Houston Chronicle - Tom Fowler - ‎1 hour ago‎
The US should at first use a lighter touch in imposing limits for energy traders but leave the door open to future refinements, a federal commodities regulator told a Houston audience Wednesday.

Nikkei falls 1.2 pct as stocks hit across the board

Forbes - Aiko Hayashi - ‎38 minutes ago‎
about $5.5 billion for the year ending in March, while KDDI Corp slid after a brokerage downgrade. 'The stock market is taking a breather.

Korea National Oil to Buy Canada's Harvest Energy

Wall Street Journal - Shin Jung-Won - ‎1 hour ago‎
SEOUL—State-run Korea National Oil Corp., or KNOC, signed a contract to buy Canada-based Harvest Energy Trust for C$1.8 billion (US$1.7 billion), marking the largest acquisition of a foreign oil firm by a South Korean company.

Two defense giants post contrasting results

Los Angeles Times - W.J. Hennigan - ‎2 hours ago‎
Northrop Grumman posts a third-quarter profit of $490 million, down 4% from a year earlier. Boeing's plane troubles lead to a $1.6-billion loss.

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