NEW YORK (AP) - Philip Morris is buying a 20 percent stake in Megapolis Distribution BV, the holding company for its Russian cigarette distributor, for $750 million.
Megapolis focuses mostly on the distribution of tobacco and beverages. It handles about 70 percent of the cigarettes sold in Russia
By MICHELLE FAULAssociated Press
LAGOS, Nigeria (AP) - Nigeria's military is recommending immediate trial for 500 suspected extremist militants and the president is promising an economic boost for the northeast region confronting an Islamic uprising - both issues that address concerns expressed
By GEORGE JAHNAssociated Press
VIENNA (AP) - Iran indirectly challenged OPEC kingpin Saudi Arabia on Wednesday, announcing it plans to pump as much oil as it can once sanctions on its crude exports are lifted, even if its extra output drives prices into the basement.
The comments by Iranian oil
By KIMBERLY HEFLINGAP Education Writer
WASHINGTON (AP) - The effort to get high-speed broadband in every school is getting a boost from the philanthropy of two technology gurus - Facebook creator Mark Zuckerberg and Microsoft Corp. co-founder Bill Gates.
Zuckerberg's Startup: Education and
By DAVID McHUGHAP Business Writer
FRANKFURT, Germany (AP) - The European Central Bank says it stands ready to do more, if needed, to boost a weak recovery. But each possible step faces significant drawbacks or even political opposition.
Analysts don't expect the ECB's rate-setting council,
By TOBY STERLINGAP Business Writer
AMSTERDAM (AP) - The European Commission has fined a group of major global banks a total of 1.7 billion euros ($2.3 billion) for colluding to profit from the manipulation of key interest rates.
The banks that received fines, which include JPMorgan, Citigroup and
By PAN PYLASAssociated Press
LONDON (AP) - Further signs emerged Wednesday to show that the paltry economic recovery in the 17-country eurozone is losing steam.
Despite evidence that growth was weak even in the last quarter of the year, few economists think it will prompt the European Central Bank
AMSTERDAM (AP) - One of the largest insurers in the Netherlands, Achmea NV, says it will cut 4,000 jobs, which represents around 20 percent of its workforce.
The company says Wednesday that customers increasingly avoid doing face-to-face business with insurance agents, preferring to shop and apply
LONDON (AP) - Tesco, Britain's largest retailer by revenue, says it struggled at home during the third quarter as consumers continued to feel the pinch.
The company says Wednesday that its same-store sales in its U.K. stores - excluding fuel and sales taxes - fell 1.5 percent. Chief Executive
By MICHAEL VIRTANENAssociated Press
ALBANY, N.Y. (AP) - A New York state parole board agreed Tuesday to release former Tyco chief executive Dennis Kozlowski on parole after more than eight years in prison for his conviction in a $134 million corporate fraud case.
His tentative release date is Jan.
SPOKANE, Wash. - Around 8:30am Wednesday morning crews responded to a barn fire at 5700 N. Havana. No one was inside the barn but it was full of arcade games.
The building was part of a business the homeowner ran called Bullseye Amusements. The homeowner was the one who noticed the fire.
By SUZETTE LABOY and CHRISTINE ARMARIOAssociated Press
EVERGLADES NATIONAL PARK, Fla. (AP) - Wildlife workers in boats struggled Wednesday to coax nearly four dozen pilot whales out of dangerous shallow waters in Florida's Everglades National Park, hoping to spare them the fate of 10 others
NEW YORK (AP) - Paper copies of Newsweek will again roll off the presses starting next year.
Editor-in-Chief Jim Impoco says the news magazine's owners, IBT Media, want a business model where a weekly print magazine would be mainly supported by subscription fees instead of advertising.