Tugboats gently coax battleship Missouri into dry dock for major refurbishment
HONOLULU Four tugboats gently maneuvered the iconic World War II battleship USS Missouri into a dry dock on Wednesday, where it will undergo a major refurbishment. The vessel, now a memorial and museum, is a symbol of the fiercest Pacific battles. It has been moored for the last 11 years in Pearl Harbor, where a [...]
Wall Street dealmaker and Lazard CEO Bruce Wasserstein dies
NEW YORK Bruce Wasserstein, the CEO of Lazard Ltd., is dead, a company spokeswoman confirms Wednesday . Wasserstein, 61, a prominent Wall Street dealmaker, was hospitalized with an irregular heartbeat on Sunday. Wasserstein took over as head of Lazard in 2002. He took the company public in May 2005 and was named its CEO. THIS IS A [...]
Worries about sustained consumer spending persist despite surprising retail sales in September
WASHINGTON Retail sales outside of autos showed surprising strength in September, but economists worry the rebound in all-important consumer spending will be short-lived as American families contend with rising unemployment and tight credit. Removing autos, sales rose a better-than-expected 0.5 percent, led by gains at furniture stores, general merchandise stores and specialty clothing stores. Many economists [...]
India s annual inflation rate rises to 0.92 percent
NEW DELHI – India’s annual rate of inflation based on wholesale prices rose marginally to 0.92 percent for the week ended Oct 3 from 0.7 percent for the like week of the previous year. The official wholesale price index, as per the latest data, declined 0.5 percent during the week ended Oct 3 due to a [...]
Citigroup Inc. to release third quarter results; loan losses, restructuring in question
CHARLOTTE, N.C. Citigroup Inc. reports results for its third quarter on Thursday. The following is a summary of key developments and analyst opinion related to the period. OVERVIEW: Citigroup has been among the banks hardest hit by the credit crisis and recession. It has received $45 billion in loans from the U.S. government a [...]
Colo. private prison operators reach $1.3M settlement in sex discrimination lawsuit
DENVER The operators of a Colorado private prison have agreed to pay $1.3 million to settle a lawsuit alleging that male officers forced female workers to perform sex acts to keep their jobs. The federal Equal Employment Opportunity Commission announced the settlement with the Dominion Correctional Services LLC and Nashville, Tenn.-based Corrections Corporation of America [...]
US Fed sees recovery, but long wait for unemployment drop
WASHINGTON – The Federal Reserve said Wednesday that economic activity in the US has picked up over the last few months and will continue improving through next year. But the recovery will not be strong enough to lower unemployment, which currently sits at a 28-year high of 9.8 percent, according to minutes of the central bank’s [...]
Spartan Stores 2nd-quarter profit falls with gas prices and as consumer buy private label
GRAND RAPIDS, Mich. Grocery store chain Spartan Stores Inc. said Wednesday that quarterly profit fell as gas prices fell and consumers bought more private-label products to cope with the tough economy. Spartan, based in Grand Rapids, Mich., said second-quarter profit fell 2 percent to $10.4 million, or 46 cents per share, from $10.6 million, or [...]
