Business News

Malaysia Airlines suffers $89 million loss in Q3

KUALA LUMPUR, Malaysia - National carrier Malaysia Airlines said Wednesday it suffered a net loss of 300 million ringgit ($88.9 million) in the third quarter, mainly because of wrongway bets on fuel prices.

Salvation Army's iconic kettles now credit ready

World stocks buoyed by Fed but dollar slides

LONDON - World stock markets rose Wednesday after the U.S. Federal Reserve indicated that interest rates will remain at super-low levels for a while yet.

Indonesian leader defends $715 mln bank bailout

JAKARTA, Indonesia - Indonesia's vice president has defended a $715 million bank bailout as having been vital to protecting the financial system amid the global economic crisis.

Vietnam devalues its currency by over 5 percent

HANOI, Vietnam - Vietnam announced a 5 percent devaluation of its tightly controlled currency Wednesday, succumbing to pressure for a weaker dong as foreign reserves dwindle.

Beijing Autos says will reevaluate Saab bid

SHANGHAI - The Chinese automaker that had joined with Koenigsegg Automotive AB in bidding to buy Saab said Wednesday it regrets the Swedish luxury sports car maker's decision to drop the deal and will reconsider its own stance.

Oil rises above $76 amid weak demand, dollar drop

1/4 SINGAPORE - Oil prices rose above $76 a barrel Wednesday in Asia as investors mulled whether signs of a sluggish U.S. economy and weak crude demand justify a further sell-off this week.

Asia stocks post muted gains amid growth concerns

BEIJING - Asian stock markets rose modestly Wednesday in a session damped by evidence that recovery in the world's biggest economy is likely to be slow and bumpy.

Soggy season could crimp sweet potato supply

NEW ORLEANS - Savor that holiday sweet potato pie and those marshmallow yams while you can.

Americans search for cheaper Thanksgiving trips

CHICAGO - The Miles family is changing it up this year in the annual American race to make it to the table for Thanksgiving dinner.

Oil hovers near $76 amid weak US crude demand

SINGAPORE - Oil prices hovered near $76 a barrel Wednesday in Asia as investors mulled whether signs of a sluggish U.S. economy and weak crude demand justified a further sell-off this week.

Sales of new homes forecast to rise 2 percent

WASHINGTON - Sales of new homes are expected to post a modest increase in October, reinforcing data this week that showed the real estate market is regaining its footing after a dramatic collapse.

Wary consumers, rising unemployment snag recovery

WASHINGTON - The economy is not growing as fast as the government first thought and the recovery still faces significant obstacles, including households nervous about spending and rising unemployment.

AT&T and Verizon ads duel on airwaves and in court

NEW YORK - What would the holidays be without bickering between siblings? AT&T and Verizon are swamping TV with ads attacking facets of each other's wireless networks.

Japan's exports post smallest drop in a year

TOKYO - Japanese exports in October fell by the smallest amount in a year, the government said Wednesday, as stimulus spending lifted demand _ particularly from China and the rest of Asia.

Feds blame low oxygen for Ala. mine death

MONTGOMERY, Ala. - Low oxygen levels likely caused the death of a coal miner in a west Alabama mine where several others were overcome during a rescue attempt, federal mine safety officials said Tuesday.

Top 2 booksellers report losses, their shares fall

NEW YORK - Barnes & Noble Inc. and Borders Group Inc., the nation's two largest brick-and-mortar book sellers, both posted quarterly losses Tuesday and forecast a difficult holiday season, saying competition from discount chains and online retailers is stiffening.

Jury in Petters fraud case breaks for Thanksgiving

ST. PAUL, Minn. - A jury deliberating the case of a Minnesota businessman accused of operating a Ponzi scheme that cost investors more than $3.5 billion has gone home for the Thanksgiving holiday without reaching a verdict.

FBI raids Ind., Ohio offices of financial firms

INDIANAPOLIS - Federal agents searched the Indiana and Ohio offices of two companies owned by an Indianapolis businessman Tuesday, serving warrants a month after a newspaper questioned whether the Ohio firm is capable of repaying some $168 million owed to investors.