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Money market fund assets rose to $2.578 trillion

Submitted by Fox First at Ten on November 8th

NEW YORK (AP) - Total U.S. money market mutual fund assets rose $31.24 billion to $2.578 trillion for the week that ended Wednesday, according to the Investment Company Institute. Assets of the nation's retail money market mutual funds rose $2.97 billion to $888.09 billion, the Washington-based

Judge approves bid procedures in A123 bankruptcy

Submitted by Fox First at Ten on November 8th

By RANDALL CHASEAP Business Writer WILMINGTON, Del. (AP) - A judge ruled Thursday that bankruptcy proceedings for A123 Systems can move forward after the advanced battery maker reduced the fee that would have to be paid to the lead bidder for its assets should the deal fall apart. Creditors, a

US trade deficit narrows to $41.5 billion

Submitted by Fox First at Ten on November 8th

By MARTIN CRUTSINGERAP Economics Writer WASHINGTON (AP) - 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 economic slowdown. Still, the narrower trade deficit could lead the government to

US futures edge up after year's biggest sell-off

Submitted by Fox First at Ten on November 8th

NEW YORK (AP) - U.S. stock futures rebounded Thursday from the worst plunge in the Dow Jones index this year, with the government reporting that record exports of U.S. goods narrowed the country's trade deficit. Dow Jones industrial futures rose 36 points to 12,889. The broader S&P futures

Duke Energy 3Q earnings hurt by mild weather

Submitted by Fox First at Ten on November 8th

By JONATHAN FAHEYAP Energy Writer NEW YORK (AP) - Duke Energy, the nation's largest electric utility by market value, reported stronger-than-expected earnings for the third quarter but company executives said the outlook for strong economic growth in the U.S. is dim. The company said more

Iran bans 'luxury' imports as sanctions bite

Submitted by Fox First at Ten on November 8th

By BRIAN MURPHY and NASSER KARIMIAssociated Press TEHRAN, Iran (AP) - Iran's sanctions-fighting "resistance economy" suddenly got a lot leaner, less flashy and perhaps a bit more uncomfortable. The Islamic Republic announced Thursday a ban on imports of 75 so-called luxury products -

EADS profit stalls in Q3 on super jumbo costs

Submitted by Fox First at Ten on November 8th

By GREG KELLERAP Business Writer PARIS (AP) - The cost of fixing problems on some A380 super jumbos weighed on third-quarter profits at Airbus parent company EADS NV. Net profit at the European aircraft giant fell 1 percent to €309 million ($394 million) in the July to September period, from €

Recovering Commerzbank returns $99M profit in Q3

Submitted by Fox First at Ten on November 8th

By DAVID McHUGHAP Business Writer FRANKFURT, Germany (AP) - Commerzbank, Germany's second-largest lender, saw profits held back in the third quarter as interest income declined and costs rose from businesses the bank is leaving in order to strengthen its finances. The bank said Thursday it

Universal Display slides to 3Q loss; shares tumble

Submitted by Fox First at Ten on November 7th

EWING, N.J. (AP) - Universal Display Corp. slid to a loss in the third quarter, as weaker materials sales and fees led to a sharp drop in revenue for the lighting-products maker. The company also scaled back its revenue outlook for the year. The results fell well short of Wall Street's

New Faces: Newly elected US senators

Submitted by Fox First at Ten on November 7th

By The Associated Press A look at the newly elected U.S. senators from Tuesday's election: ARIZONA Republican Jeff Flake, the congressman who won Arizona's open U.S. Senate seat, built his reputation on a fierce opposition to "earmarks," the special funding requests for roads, bridges