Business | MyFOX Spokane

Tame US prices, more confident builders aid growth

Submitted by Fox First at Ten on October 16th

By CHRISTOPHER S. RUGABERAP Economics Writer WASHINGTON (AP) - The outlook for the U.S. economy brightened a little Tuesday after reports that consumer prices stayed tame and homebuilder confidence rose to the highest level in six years. A third report showed factory output grew only modestly

News Summary: Costlier gas pushes up US prices

Submitted by Fox First at Ten on October 16th

By The Associated Press PRICES RISE: U.S. consumer prices rose 0.6 percent last month, the Labor Department said Thursday, mostly because of higher gas prices. Excluding the volatile energy and food categories, prices rose only 0.1 percent for the third straight month. BENEFIT INCREASE: The

Kroger lifts guidance, citing plans to expand

Submitted by Fox First at Ten on October 16th

NEW YORK (AP) - Kroger is forecasting stronger growth in the years ahead, as the nation's biggest traditional supermarket operator continues to transform the format of its stores to fend off competitors and keep up with changing shopping habits. The Cincinnati-based company, which operates its

News Summary: Builder confidence at 6-year high

Submitted by Fox First at Ten on October 16th

By The Associated Press CONFIDENCE BOOST: The National Association of Home Builders/Wells Fargo builder sentiment index increased to 41 in October. That's up from 40 in September and the highest reading since June 2006, just before the housing bubble burst. Any reading below 50 indicates

News Summary: Merkel defends switch from nuclear

Submitted by Fox First at Ten on October 16th

By The Associated Press NO NUKES: German Chancellor Angela Merkel defended her government's decision to phase out nuclear power and switch to renewable energies within a decade, but acknowledged the need to speed up the plan. BAD BUSINESS? Business leaders have criticized the way the

Oil price ends higher amid mixed economic data

Submitted by Fox First at Ten on October 16th

NEW YORK (AP) - The price of oil finished slightly higher Tuesday, following a day of wavering between small gains and losses as traders mulled mixed economic data. The Labor Department said the consumer price index rose 0.6 percent last month, the same as in August, with inflation still in check.

EU health chief resigns in corruption scandal

Submitted by Fox First at Ten on October 16th

By RAF CASERTAssociated Press BRUSSELS (AP) - The European Union's health commissioner resigned Tuesday over corruption allegations involving tobacco laws but has denied any wrongdoing and has vowed to clear his name. John Dalli, a former Maltese businessman, resigned after the EU's

News Summary: A123 files for bankruptcy protection

Submitted by Fox First at Ten on October 16th

By The Associated Press SHORT CIRCUIT: Short of cash and hurting from weak sales of electric cars, battery maker A123 Systems Inc. filed for bankruptcy protection on Tuesday and quickly sold its automotive assets. LOSING POWER: The moves came a day after the company warned it likely would miss

Stocks higher on 3Q profits; Mattel jumps

Submitted by Fox First at Ten on October 16th

By The Associated Press Stocks are rising on Wall Street after several big-name U.S. companies posted strong results. It was the second day of broad gains following a down week last week. Investors had been worried that third-quarter corporate earnings would be weak, but so far many of them are

News Summary: Roche 3Q drug sales rise 7 percent

Submitted by Fox First at Ten on October 16th

By The Associated Press SALES JUMP: Powered by demand for its cancer drugs, Swiss drugmaker Roche on Tuesday reported a 7 percent increase in sales of its pharmaceutical products for the first nine months of 2012. THE DETAILS: The world's biggest producer of cancer-fighting drugs said its