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German government cuts 2013 growth forecast

Submitted by Fox First at Ten on October 17th

By GEIR MOULSONAssociated Press BERLIN (AP) - Europe's debt crisis and waning economic growth around the world, particularly in emerging markets, prompted the German government to cut its forecast for growth next year. Though the country's Economy Ministry cut its growth forecast for

News Summary: World Food Prize attracts protest

Submitted by Fox First at Ten on October 17th

By The Associated Press FOOD FOR THOUGHT: Members of Occupy Des Moines plan civil disobedience efforts to obstruct participants at World Food Prize headquarters. ON THE MENU: An organizer expects about 30 people to turn out. They oppose what they see as corporate agriculture motivated more by

News Summary: Portugal raises $2.4B in auction

Submitted by Fox First at Ten on October 17th

By The Associated Press BILLIONS BID: Portugal managed to raise €1.85 billion ($2.4 billion) in a debt auction Wednesday despite the country's bleak economic prospects and growing political tension over austerity policies. ROCKY ROAD: The coalition government forecasts a third straight year

American Airlines parent loses $238M in 3Q

Submitted by Fox First at Ten on October 17th

By SAMANTHA BOMKAMPAP Airlines Writer NEW YORK (AP) - American Airlines parent company AMR lost $238 million in the third quarter on employee severance payouts and other costs related to its bankruptcy. Without those charges, the Fort Worth, Texas, company posted an operating profit as it cut

Surge in US home construction could lift economy

Submitted by Fox First at Ten on October 17th

By ALEX VEIGA and MARTIN CRUTSINGERAP Business Writers U.S. home construction is making a comeback that could invigorate the economy's still-weak recovery. Builders last month started construction on single-family houses and apartments at the fastest rate in more than four years, the

France to set up state-backed investment bank

Submitted by Fox First at Ten on October 17th

PARIS (AP) - France is creating a new government-backed investment bank that will aim to spur economic growth by lending to small and medium-sized enterprises. Jean-Pierre Jouyet, the head of French state-owned financial institution CDC, has been named chairman of the new investment bank, known by

US futures mixed ahead of housing report

Submitted by Fox First at Ten on October 17th

NEW YORK (AP) - U.S. stock futures are mixed as the market digests a new round of earnings from major U.S. corporations like Bank of America, PepsiCo, and Halliburton. Dow Jones industrial futures are up 9 points to 13,462. The broader S&P futures have added 2.8 points to reach 1,452. Nasdaq

Armstrong out as Livestrong head, loses sponsors

Submitted by Fox First at Ten on October 17th

By JIM VERTUNOAP Sports Writer AUSTIN, Texas (AP) - Already an outcast in cycling after a massive doping report, Lance Armstrong absorbed hits much closer to home Wednesday: to his wallet and his heart. Armstrong was dumped by Nike, Anheuser-Busch and other sponsors, and he gave up the top spot

Germany: No decision on banking union at EU summit

Submitted by Fox First at Ten on October 17th

By JUERGEN BAETZAssociated Press BERLIN (AP) - A top German government official on Wednesday dashed hopes of swift progress on strengthening Europe's financial sector, saying this week's summit of the bloc's 27 leaders won't make any final decisions on setting up a single

Wine experts: worst grape harvest in half century

Submitted by Fox First at Ten on October 17th

By RAF CASERTAssociated Press BRUSSELS (AP) - Winemaker Cherie Spriggs had watched the bad weather over southern England's vineyards all season long. It just wasn't good enough for Nyetimber, her award-winning sparkling wine. "I have never seen a situation like this before," Spriggs