Business News

Lawmakers aim to thwart Ohio casino development

COLUMBUS, Ohio - A group of central Ohio lawmakers is advancing a plan to beef up cities' rights against four casinos that Ohio voters authorized in November.

Ga. task force: 2012 too soon to find new water

ATLANTA - There are plenty of ways that Georgia can quench metro Atlanta's thirst if the city is cut off from its main reservoir.

Farm runoff in 41 watersheds feeding Mississippi

NEW ORLEANS - The U.S. Department of Agriculture says it aims to stop agricultural runoff in 41 watersheds in 12 states from ending up in the Mississippi River.

FCC chairman: Broadband access should be universal

Clearwire Escrow prices $920M senior notes offer

KIRKLAND, Wash. - Wireless broadband service provider Clearwire Corp. said Clearwire Escrow Corp. has priced an offering of $920 million senior secured notes at 97.9 percent.

Ericsson to buy Nortel business for $70M

NEW YORK - LM Ericsson of Sweden said Wednesday it plans to buy Nortel Networks Corp.'s North American GSM business for $70 million in cash.

Oil rises above $76 amid dollar's decline

Oil prices rose above $76 a barrel Wednesday as the dollar weakened and investors awaited data on the U.S. economy and crude inventories.

CNPC, KazMunaiGas seal $2.6 Bln deal

ALMATY, Kazakhstan - China National Petroleum Corp. has finalized a $2.6 billion (⁈illion) deal with Kazakhstan's state energy company to jointly buy the Central Asian country's fourth-largest oil producer, Kazakhstan's KazMunaiGas said in a statement Wednesday.

China criticizes US anti-dumping move on pipes

BEIJING - China criticized a U.S. decision to impose antidumping duties on Chinese-made pipes used by the oil and gas industry and appealed Wednesday to Washington to avoid protectionism.

GM says main plant in Germany crucial to its plans

WIESBADEN, Germany - General Motors Co.'s top European official underlined the future importance of Opel's biggest German plant on Wednesday, while reiterating that there likely will be up to 9,500 jobs cut across the continent.

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 US data as dollar slides

LONDON - European stock markets rose and Wall Street was expected to open higher Wednesday after a batch of stronger than anticipated U.S. economic data on the eve of the Thanksgiving holiday.

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.