News Archive for October 23, 2014

  • Nokia Gives Bullish Outlook as It Swings Back to Profit

    STOCKHOLM—Nokia Corp.’s quarterly earnings gave ample evidence that the company’s main network unit has moved well beyond several years of painful restructuring.

  • Dr Pepper Snapple Raises Outlook as Soda Volume Rises

    Dr Pepper Snapple Group raised its outlook for the year as it reported higher volumes in an increasingly tough market for soda makers.The results for the most recent quarter topped analysts’ expectations.

  • Bulgaria Prepares to Pull Troubled Bank’s Plug

    Bulgaria’s central bank is ready to let the country’s fourth-largest bank fail, requiring the government to top up a fund to compensate depositors after an audit found a 4.22 billion lev ($2.73 billion) hole in the troubled bank’s accounts.

  • Nigeria to Send Medics to West African Neighbors Stricken With Ebola

    Nigeria will send 506 medics to its West African neighbors stricken with Ebola, its Health Minister Khaliru Alhassan told reporters Thursday, an announcement that catapults the country into one of the biggest contributors of human talent ...

  • U.S. Stock Futures Rise on Earnings Reports

    U.S. stock futures rose Thursday, boosted by strong third-quarter earnings from Caterpillar Inc. and other companies.Dow Jones Industrial Average futures rallied 124 points, or 0.8%, to 16549. S&P 500 futures gained 13 points, or 0.7%, ...

  • Eurozone Manufacturing, Services Pick Up Slightly in October

    Business activity in the eurozone’s private sector picked up slightly in October, although firms cut their prices at the fastest pace since early 2010, making it more likely the European Central Bank will soon have to announce a third wave ...

  • London Real-Estate Market Shows Signs of Cooling

    LONDON—Homes in the U.K. capital have been among the hottest global assets in recent years, but signs continue to suggest the heat is escaping.

  • Japan Auctions Bonds With Negative Yields For First Time

    TOKYO—Japan has joined a small group of countries in which investors are in the unusual position of actually paying the government to lend it money—a situation brought on by ultra-easy monetary policies that have flipped bond investing on ...

  • U.S. Jobless Claims Rise to 283,000

    WASHINGTON—The number of new claims for jobless benefits rose last week but remained near 14-year lows, the latest sign of an improving labor market.

  • Celgene Profit Jumps 37%

    Celgene Corp. said its third-quarter profit jumped 37%, again driven by sales growth of its key blood-cancer treatment.The Summit, N.J.-based company also bumped up its adjusted per-share earnings outlook for the year to a range of $3.65 to ...

  • Europe Stocks Rebound on Stronger-Than-Expected Economic Data

    Stronger-than-expected manufacturing and services data helped European stock indexes reverse early declines Thursday, despite lackluster earnings keeping a cap on investors’ optimism.

  • China Vows to Strengthen Judicial System

    BEIJING—China’s Communist Party said Thursday that it planned to give its judicial system more authority and its citizens a bigger say in the lawmaking process, while stressing the importance of ensuring the party’s leading role in the ...

  • Foxconn in Talks for China Display Plant

    HONG KONG—Foxconn, the company that assembles the bulk of the world’s iPhones, is in preliminary talks to build a factory in northern China that would make high-end screens for the phones as well, in a sign of the company’s ambition to move ...

  • China’s Great Wall Motor Profit Slides

    SHANGHAI—The maker of China’s top-selling sport-utility vehicle is suffering from falling profits and sales amid product delays and the country’s softening car market.

  • Airlines Post Strong Profits, Offer Bullish Outlooks

    Several U.S. airlines posted stronger third-quarter profits and expressed bullish sentiments for the fourth quarter, based on falling fuel prices, strong holiday bookings, domestic capacity discipline and a slight easing of Ebola jitters.

  • Nissan Adds 260,000 Cars to Recall

    TOKYO—Nissan Motor Co. on Thursday expanded its recall of cars equipped with potentially defective air bags from Takata Corp., saying it was calling back an additional 260,000 vehicles world-wide.

  • Raytheon Profit Rises 5% As Orders Continue

    *Raytheon on Track to Resume Growth in 2016 or 2017 --Exec*Raytheon CFO: Contract Protests Becoming the Norm*Raytheon CFO: Expanding Ties with Overseas Customers

  • 3M Profit Increases 6% on Strong Sales Growth

    3M Co. reported a 6% increase in profit in its third quarter, driven by sales growth of items including water purification systems and industrial adhesives and tapes.

  • Union Pacific Profit Rises 19% On Freight Traffic Growth

    Union Pacific Corp. said its third-quarter earnings rose 19% benefiting from rail freight that has buoyed the sector, as well as core pricing increases.

  • KKR Profit Slides, But Economic Net Income Beats Expectations

    KKR & Co. said third-quarter profit fell sharply, as the private-equity firm’s cash haul from deal profits declined.The New York company reported a third-quarter profit of $89.9 million, or 20 cents a share, down from $204.7 million ...

  • GM’s Profit Falls 14%

    General Motors Co. reported a 14% drop in its third-quarter profit but beat analyst expectations as strength in North America offset weaker results in other regions of the world.

  • Canada Lawmakers Regroup After Shooting in Ottawa

    Canadian lawmakers prepared to return to work Thursday, a day after a gunman fatally shot a soldier in the country’s capital city in what the prime minister described as a terror attack.

  • Janus Profit Rises 25%

    Bond kingpin Bill Gross’s new home, Janus Capital Group Inc., said its profit rose 25% as its revenue and assets under management in the most-recent quarter grew compared with last year’s period.

  • Mead Johnson Nutrition Profit Rises 9.5%

    Mead Johnson Nutrition Co. said its third-quarter profit rose 9.5%, slightly beating expectations, despite being hurt by foreign-exchange rates that brought down revenue 3% and higher dairy costs.

  • Tesco Chairman to Step Down

    LONDON—U.K. retailer Tesco PLC said Chairman Richard Broadbent would step down as it revealed the accounting practices that led to an overstatement of its profit had also occurred in prior periods.

  • Quest Diagnostics Posts Higher Revenue, Narrows Guidance

    Quest Diagnostics Inc. said its third-quarter revenue rose slightly more than expected, driven by acquisitions and higher diagnostic information services sales.

  • Apple Plans More Stores in China

    BEIJING—Apple Inc. plans to increase the number of its Apple-brand retail stores in Greater China to 40 from 15 within two years, Chief Executive Tim Cook said Thursday.

  • Pulte Meets Expectations, Cites Improving Housing Market

    PulteGroup Inc. said on Thursday that the improving economy and higher average selling prices help drive third-quarter results that were in line with Wall Street expectations.

  • Dunkin’ Brands Warns It May Struggle to Hit Sales Target

    Dunkin’ Brands Group Inc. said strong sales of iced coffee and pumpkin-flavored donuts helped drive third-quarter sales growth, but the restaurant chain operator warned that it may have trouble reaching its sales targets for the year.

  • Medicare Unmasked

    In a letter to a friend, the manager of a Florida urology practice worried in 2010 that her company would attract federal scrutiny for its frequent use of an expensive bladder-cancer test.

  • T. Rowe Price Profit Jumps as Fees Increase

    T. Rowe Price Group Inc. said its profit jumped 12% as revenue grew on a surge in fees.Earnings fell shy of analysts’ expectations, while the revenue was in line.

  • Hong Kong Official Rules Out Clearing Protest Sites—for Now

    HONG KONG—A Hong Kong official said the government for now won’t attempt to clear areas that have been occupied by protesters for weeks, but didn’t rule out a tougher approach to end the impasse eventually.

  • Vale Produces Record Amount of Iron Ore Despite Falling Prices

    RIO DE JANEIRO—Brazilian mining major Vale SA, the world’s biggest iron-ore producer, said Thursday its output of the key steelmaking ingredient rose in the third quarter and is on track to set a record for the year despite plunging prices.

  • Occidental Petroleum Earnings Fall 24% On Lower Oil Prices

    Occidental Petroleum Corp. said its third-quarter earnings fell 24%, weighed down by lower crude oil prices and market volatility.The company—which has been divesting assets to better focus its operations—closed the $1.4 billion sale of its ...

  • Caterpillar Posts Strong Results, Raises Outlook Again

    Caterpillar Inc. posted stronger-than-expected results for its third quarter as the heavy-machinery maker said restructuring and cost controls paid off in a tough economic environment.

  • Comcast Profit Rises 50%, Helped by Tax Adjustment

    Comcast Corp.’s third-quarter profit rose 50%, as the cable giant benefited from a one-time income-tax adjustment and a boost in earnings at its NBCUniversal entertainment arm.

  • Under Armour Apparel and Footwear Sales Jump 29%

    Athletic-apparel maker Under Armour Inc. said its apparel and footwear sales shot up 29% in the latest quarter, helping drive a surge in revenue.

  • EU Parliament Approves Zero Tariff Extension for Ukraine Exports

    The European Parliament overwhelmingly approved extending a zero tariff regime for most Ukrainian exports to the bloc, allowing the system to remain in place through the end of next year.

  • Gold Demand in India, China on the Rise

    Appetite for physical gold in India and China has returned, particularly as low prices lure buyers during India’s Diwali festival, the country’s biggest-gold buying occasion of the year.

  • Nielsen’s Revenue Increases 13%

    Nielsen N.V. continued to see its revenue grow in the third quarter, helped by recent acquisitions and growth in emerging markets.Nielsen provides data ranging from what people watch on television to what they buy in stores. The company ...

  • Lazard Revenue Climbs 18%

    Lazard Ltd. said its revenue jumped 18% in the latest quarter as its financial advisory and asset management businesses significantly improved their top lines.

  • American Electric Power Revenue Misses Expectations on Mild Summer

    American Electric Power Co. reported a smaller-than-expected increase in third-quarter revenue, weighed in part by a mild summer and accelerated spending.

  • Lorillard Cigarette Volumes Fall, but Higher Prices Lift Sales

    Lorillard Inc., which is working toward merging with Reynolds American Inc., said its cigarette volume declined, although higher prices lifted revenue.

  • UniCredit Inclined to Enter Talks With Fortess-Prelios on UCCMB Sale, CEO Says

    MILAN—UniCredit SpA Chief Executive Federico Ghizzoni said Thursday that the bank is inclined to enter exclusive talks with a partnership made up of real-estate group Prelios SpA and Fortess Investment Group LLC to sell its debt collection ...

  • China’s Lack of Drama Is Likely an Intermission

    China watchers should be thankful for the current undramatic state of affairs. Another bout of worry is always around the corner.The first signs of how the economy is doing in October show China’s sluggish but stable growth picture ...

  • The 10-Point.

    Good morning,Yesterday’s fatal shooting of a soldier at Ottawa’s National War Memorial was a tragic glimpse for Canadians of the global reach of terrorism. The assailant was eventually killed inside the Parliament building. Our story ...

  • Brussels Says Italy Plans Deviation From Fiscal Rules

    ROME—The European Commission asked Rome on Thursday for additional information on its 2015 budget, saying it plans a “significant deviation” from EU fiscal rules.

  • Eli Lilly’s Sales Hit Again by Patent Expirations

    Eli Lilly & Co. said its sales and profit fell in the most recent period, reflecting patent expirations and generic competition.Lilly also said it expects a stronger U.S. dollar to weigh on results. As a result, the company lowered the ...

  • Oil Prices Steady After Recent Falls

    The prospect of plentiful crude oil stocks weighed on the market on Thursday, keeping prices in check after a turbulent week.Contracts on both sides of the Atlantic fell on Wednesday after U.S. crude stocks showed a “huge” build of 7.1 ...

  • Japan Pitching Sensation Shota Tatsuta Picked in Professional Draft

    NARA, Japan--Japan high-school pitching sensation Shota Tatsuta is picked in the professional draft by the Nippon-Ham Fighters, realizing his dream of turning pro.

  • Asia Enjoying Discount Deals on Oil

    A slump in oil prices and a surge in supply are tipping the scales in favor of buyers in Asia, who were once at the mercy of big energy exporters but are now benefiting from sweeter deals and discounts.

  • Spain’s Economy Grew 0.5% in Third Quarter, Central Bank Estimates

    MADRID—Spain’s economy likely grew 0.5% in the third quarter from the second, the central bank said in its first official estimate of the quarter’s performance.

  • Daimler Profit Soars on Robust Demand in Key Markets

    ...

  • U.K.’s Falling Retail Sales Suggest Economy Losing Steam

    LONDON—Retail sales in the U.K. fell in September, a further sign that the country’s economy may be losing some momentum.The volume of retail sales fell 0.3% for the month compared with August, primarily to unseasonably warm weather putting ...

  • Brazil Court Accepts MMX Unit’s Request for Bankruptcy Protection

    SÃO PAULO—A Brazilian court accepted the request made by MMX Sudeste Mineracao SA, a unit of Eike Batista-controlled mining company MMX Mineracao e Metalicos SA, for bankruptcy protection.

  • Pernod Ricard Sales Rise

    PARIS—French drinks maker Pernod Ricard SA is starting to see the light at the end of a long tunnel in China, as a slump in sales in the once-buoyant Chinese market eased.

  • Credit Suisse Profit Beats Market Expectations

    ZURICH—Credit Suisse Group AG said Thursday its third-quarter profit more than doubled to 1.03 billion Swiss francs ($1.07 billion), as the Swiss bank continued streamlining its wealth management business and enjoyed a sharp increase in ...

  • Russia Detains Airport Staff Over Crash That Killed Total CEO

    MOSCOW—Russian investigators said on Thursday they had detained managers and controllers on duty at Moscow’s Vnukovo airport during Monday’s corporate-jet crash that killed Total SA chief Christophe de Margerie.

  • Russia’s Mail.ru Revenue Rises Despite Tough Trading Conditions

    MOSCOW—Russian Internet company Mail.ru Group posted a 13% increase in third-quarter revenue on improved sales of its games and other web-based services.

  • Anglo American Reports Increased Iron Ore Output

    LONDON—Anglo American PLC said on Thursday that its iron-ore production rose sharply in the third quarter, as the mining company joined its larger rivals in increasing output to grab market share even as prices fall.

  • Why You Can’t Trust You’re Getting the Best Deal Online

    The Web is full of personalized content, whether it’s a Netflix recommendation or the results of a Google search.But consumers have protested when e-commerce companies have extended their behind-the-scenes personalization to prices, ...

  • MTU Aero Ups Profit Outlook

    German aerospace supplier MTU Aero Engines AG raised its full-year sales and profit forecast on Thursday after its third-quarter earnings beat estimates as demand for commercial jetliners remains strong.

  • Japan’s Life Insurers May Go Cool on Foreign Debt

    TOKYO—Concerns about a global slowdown may pour cold water on a foreign bond-buying spree by Japan’s life insurance companies.The life insurers have been piling into foreign debt so far this year despite their long-standing preference for ...

  • Rio Tinto’s Chief Executive, Finance Chief Terms Extended

    SYDNEY—Rio Tinto PLC extended the tenure of chief executive Sam Walsh, rewarding him for restoring capital discipline after a run of hefty write-downs from soured acquisitions.

  • Asian Shares Lose Ground After China Manufacturing Report

    Stocks in Japan and China slipped Thursday as investors assessed the latest read on Chinese manufacturing activity.The Hang Seng Index fell 0.3% to 23333.18 and the Shanghai Composite lost 1% to 2302.42 after HSBC’s preliminary report on ...

  • China’s Plans for Development Bank Fall Short

    China plans to launch a $50 billion infrastructure lender Friday, a move aimed at challenging the hegemony of the U.S.-backed World Bank and Asian Development Bank in channeling capital to poorer nations in Asia.

  • Gunmen Attack Minority Shia Muslims in Pakistan

    KARACHI, Pakistan—Gunmen attacked a passenger bus carrying members of Pakistan’s Shiite minority Hazara community in the city of Quetta Thursday, killing at least eight people, local officials said.

  • Hyundai Motor’s Profit Skids

    SEOUL—Hyundai Motor Co.’s third-quarter net profit fell 28%, hurt by a stronger local currency, work stoppages by unionized employees and weak local sales of its new flagship Sonata sedan.

  • Norway Central Bank Holds Rates Steady, Leaves Guidance in Place

    OSLO—Norway’s central bank Thursday held its benchmark interest rate unchanged, as expected, and left in place its earlier guidance that it didn’t expect to begin raising rates until 2016.

  • Unilever Flags Challenging Outlook as Sales Growth Slows

    ...

  • Publicis Cuts Sales Outlook

    Publicis Groupe SA on Thursday cut its full-year sales outlook as the French advertising company is still feeling the pinch from the failed merger with Omnicom Group Inc.

  • Logitech Profit More Than Doubles

    ZURICH—Logitech International SA on Thursday said its net profit in the second quarter more than doubled, a further sign the computer-accessories maker’s turnaround is gathering steam.

  • Orange Hurt by Tough Competition

    PARIS—Orange SA on Thursday posted another drop in revenue and profit in its latest quarter as tough competition in some of the telecom group’s largest markets continued to weigh.

  • China HSBC Manufacturing PMI Rises to 50.4

    BEIJING—A closely watched gauge of activity in China’s manufacturing sector rose in October, a result which may go some way in easing concerns over the pace of Chinese economic growth.

  • Swedish Budget Leans to the Left

    STOCKHOLM—Sweden’s new finance minister on Thursday presented a proposed budget with a clear leaning to the left, signaling an intention to increase some taxes and raise spending on job creation programs, welfare and schools.

  • Russia’s Ruble Weakens to All-Time Low

    MOSCOW—The Russian ruble weakened to fresh all-time lows versus the euro-dollar basket in early trade on Thursday as oil prices again dipped lower.

  • How to Navigate the Roads in China

    Paul Procee is the program leader for urban, water, transport, and disaster risk management in China at the World Bank. He handles urban infrastructure projects across the country and is based in Beijing. Mr. Procee, who is originally from ...

  • Royals Storm Back as Giants’ Bullpen Melts Down

    KANSAS CITY, Mo.—Five San Francisco Giant pitchers. Five Kansas City Royal runs. In the space of one triumphant half-inning, the Royals reclaimed their swagger and stormed back into this World Series, winning game two 7-2 and knotting the ...

  • Michael Brown Autopsy Shows Close-Range Hand Wound

    The autopsy report on Michael Brown, the teenager shot on Aug. 9 by an officer in Ferguson, Mo., shows he had a close-range hand wound.

  • What’s News: World-Wide

    A gunman fatally shot a soldier in Ottawa before being killed inside Parliament, in an incident that shut down the Canadian capital.Iraq’s Kurdish authorities approved the deployment of 150 soldiers to relieve fellow Kurds fighting Islamic ...

  • What’s News: Business & Finance

    An air-bag recall is turning into a new safety crisis for the auto industry. Takata is being investigated to see whether the supplier misled U.S. regulators about safety.

  • See The Wall Street Journal’s Front Page

    See The Wall Street Journal’s Front Page

  • Park Avenue Christian Church Due Millions

    A historic church on Park Avenue is due to receive at least $24.7 million under a disputed plan to allow a developer to build a condominium tower on the site of its parish house, court records show.

  • What’s News—

    Business & FinanceInvestors in emerging markets are cooling on stocks of companies that sell essential goods like food and drinks after a dizzying rally that has left those shares looking expensive.

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