Economy News Headlines - Yahoo! Newshttp://news.yahoo.com/economy/ Get the latest economy news headlines from Yahoo! News. Find breaking economy news, including analysis and opinion on top economy stories, photos and more.en-USCopyright (c) 2012 Yahoo! Inc. All rights reservedWed, 24 Oct 2012 16:04:12 -04005Economy News Headlines - Yahoo! Newshttp://news.yahoo.com/economy/ http://l.yimg.com/a/i/us/nws/th/main_142c.gifOhio's economic picture offers political dilemmaGov. John Kasich warned Wednesday of an economic slowdown happening in the swing state ahead the presidential election, even as Huntington bank announced it is bringing 250 jobs to Ohio.http://news.yahoo.com/ohios-economic-picture-offers-political-dilemma-200412347--finance.htmlWed, 24 Oct 2012 16:04:12 -0400Associated Pressohios-economic-picture-offers-political-dilemma-200412347--financeFed cites moderate US growth, takes no new actionTwo weeks before a U.S. election focused on the economy, the Federal Reserve said Wednesday that its help is still needed to increase growth and lower unemployment.http://news.yahoo.com/fed-cites-moderate-us-growth-takes-no-action-181624240--finance.htmlWed, 24 Oct 2012 15:58:06 -0400Associated Pressfed-cites-moderate-us-growth-takes-no-action-181624240--financeImation 3Q loss narrows, will cut jobsShares of Imation Corp. fell nearly 10 percent Wednesday after the technology company said it will split its business into two and cut about 20 percent of its staff as its sales weaken and the uncertain global economy dents demand.http://news.yahoo.com/imation-3q-loss-narrows-cut-jobs-193328432--finance.htmlWed, 24 Oct 2012 15:33:28 -0400Associated Pressimation-3q-loss-narrows-cut-jobs-193328432--finance"Ghost Exchange" film questions runaway stock market technology<p><a href="http://news.yahoo.com/ghost-exchange-film-questions-runaway-stock-market-technology-192617757--sector.html"><img src="http://l.yimg.com/bt/api/res/1.2/pi8Q7IwbkkbncnqsvWF_DA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2012-10-24T192617Z_1_CBRE89N1HZZ00_RTROPTP_2_USA-STOCKMARKET-FILM.JPG" width="130" height="86" alt="Handout photo of Camilla Sullivan" align="left" title="Handout photo of Camilla Sullivan" border="0" /></a>NEW YORK (Reuters) - A Washington-based filmmaker is taking a hard look at how the U.S. stock market evolved from a crowded, noisy trading space into a quiet one dominated by machines in her new film, "Ghost Exchange." The feature-length documentary film portrays the market as a system in need of serious repair, with flaws that could be costing the U.S. economy some 20 million jobs. The film is being released amid growing attention to problems in the stock market. ...</p><br clear="all"/>http://news.yahoo.com/ghost-exchange-film-questions-runaway-stock-market-technology-192617757--sector.htmlWed, 24 Oct 2012 15:26:17 -0400Reutersghost-exchange-film-questions-runaway-stock-market-technology-192617757--sector<p><a href="http://news.yahoo.com/ghost-exchange-film-questions-runaway-stock-market-technology-192617757--sector.html"><img src="http://l.yimg.com/bt/api/res/1.2/pi8Q7IwbkkbncnqsvWF_DA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2012-10-24T192617Z_1_CBRE89N1HZZ00_RTROPTP_2_USA-STOCKMARKET-FILM.JPG" width="130" height="86" alt="Handout photo of Camilla Sullivan" align="left" title="Handout photo of Camilla Sullivan" border="0" /></a>NEW YORK (Reuters) - A Washington-based filmmaker is taking a hard look at how the U.S. stock market evolved from a crowded, noisy trading space into a quiet one dominated by machines in her new film, "Ghost Exchange." The feature-length documentary film portrays the market as a system in need of serious repair, with flaws that could be costing the U.S. economy some 20 million jobs. The film is being released amid growing attention to problems in the stock market. ...</p><br clear="all"/>How Fed policymakers affect the economyThe Federal Reserve's chief policymaking group, the Federal Open Market Committee, has vast power over the economy through its ability to set monetary policy.http://news.yahoo.com/fed-policymakers-affect-economy-184011114.htmlWed, 24 Oct 2012 15:05:20 -0400Associated Pressfed-policymakers-affect-economy-184011114Fed sticks to stimulus plan, says economy a bit firmer<p><a href="http://news.yahoo.com/fed-sticks-stimulus-plan-economy-bit-firmer-183634442--business.html"><img src="http://l.yimg.com/bt/api/res/1.2/Gq.0r_EbGCphL89.X1CLPg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2012-10-24T185951Z_1_CBRE89N1GRU00_RTROPTP_2_USA-FED-FOMC.JPG" width="130" height="86" alt="A view shows the Federal Reserve building in Washington" align="left" title="A view shows the Federal Reserve building in Washington" border="0" /></a>WASHINGTON (Reuters) - The Federal Reserve on Wednesday stuck to its plan to keep stimulating U.S. growth until the job market improves even as it acknowledged some parts of the economy were looking a bit better. In a statement after a two-day meeting, the central bank repeated its vow to keep rates near zero until mid-2015 and its pledge to keep supporting growth while the recovery strengthens. The Fed's policy-setting panel made no change in its plan to purchase $40 billion in mortgage-backed debt per month to push interest rates lower and spur a stronger recovery. ...</p><br clear="all"/>http://news.yahoo.com/fed-sticks-stimulus-plan-economy-bit-firmer-183634442--business.htmlWed, 24 Oct 2012 14:53:59 -0400Reutersfed-sticks-stimulus-plan-economy-bit-firmer-183634442--business<p><a href="http://news.yahoo.com/fed-sticks-stimulus-plan-economy-bit-firmer-183634442--business.html"><img src="http://l.yimg.com/bt/api/res/1.2/Gq.0r_EbGCphL89.X1CLPg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2012-10-24T185951Z_1_CBRE89N1GRU00_RTROPTP_2_USA-FED-FOMC.JPG" width="130" height="86" alt="A view shows the Federal Reserve building in Washington" align="left" title="A view shows the Federal Reserve building in Washington" border="0" /></a>WASHINGTON (Reuters) - The Federal Reserve on Wednesday stuck to its plan to keep stimulating U.S. growth until the job market improves even as it acknowledged some parts of the economy were looking a bit better. In a statement after a two-day meeting, the central bank repeated its vow to keep rates near zero until mid-2015 and its pledge to keep supporting growth while the recovery strengthens. The Fed's policy-setting panel made no change in its plan to purchase $40 billion in mortgage-backed debt per month to push interest rates lower and spur a stronger recovery. ...</p><br clear="all"/>Bank of Canada pushes rate hikes off, cites weak thid-quarter<p><a href="http://news.yahoo.com/bank-canada-halves-third-quarter-growth-view-rate-144835235--business.html"><img src="http://l1.yimg.com/bt/api/res/1.2/mQkMQZQHtSf8k.03IZ767g--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2012-10-24T185107Z_1_CBRE89N1GDC00_RTROPTP_2_CANADA-US-ECONOMY-BANKOFCANADA.JPG" width="130" height="86" alt="Mark Carney arrives at a news conference upon the release of the Monetary Policy Report in Ottawa" align="left" title="Mark Carney arrives at a news conference upon the release of the Monetary Policy Report in Ottawa" border="0" /></a>OTTAWA (Reuters) - Canadian interest rate hikes have become "less imminent" as the economy slows, Bank of Canada Governor Mark Carney said on Wednesday in unusually explicit comments likely aimed at clearing up confusion over the central bank's recent statements. The bank has been signaling since April that it will eventually raise its overnight rate from the current 1.0 percent, making it the only central bank among major industrialized economies to lean toward a rate hike. ...</p><br clear="all"/>http://news.yahoo.com/bank-canada-halves-third-quarter-growth-view-rate-144835235--business.htmlWed, 24 Oct 2012 14:51:07 -0400Reutersbank-canada-halves-third-quarter-growth-view-rate-144835235--business<p><a href="http://news.yahoo.com/bank-canada-halves-third-quarter-growth-view-rate-144835235--business.html"><img src="http://l1.yimg.com/bt/api/res/1.2/mQkMQZQHtSf8k.03IZ767g--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2012-10-24T185107Z_1_CBRE89N1GDC00_RTROPTP_2_CANADA-US-ECONOMY-BANKOFCANADA.JPG" width="130" height="86" alt="Mark Carney arrives at a news conference upon the release of the Monetary Policy Report in Ottawa" align="left" title="Mark Carney arrives at a news conference upon the release of the Monetary Policy Report in Ottawa" border="0" /></a>OTTAWA (Reuters) - Canadian interest rate hikes have become "less imminent" as the economy slows, Bank of Canada Governor Mark Carney said on Wednesday in unusually explicit comments likely aimed at clearing up confusion over the central bank's recent statements. The bank has been signaling since April that it will eventually raise its overnight rate from the current 1.0 percent, making it the only central bank among major industrialized economies to lean toward a rate hike. ...</p><br clear="all"/>Instant View: Fed stays the course, to keep rates low until 2015(Reuters) - The Federal Reserve on Wednesday stuck to its plan to keep stimulating the U.S. economy until the job market improves and repeated its vow to keep rates near zero until mid-2015. KEY POINTS: In a policy statement after a two-day meeting, the central bank acknowledged hints of strength in the U.S. housing market, but reiterated a pledge to continue supporting growth even as the recovery picks up. It said it would continue purchasing $40 billion in mortgage-backed debt per month to push interest rates lower. ...http://news.yahoo.com/instant-view-fed-stays-course-keep-rates-low-184805155--business.htmlWed, 24 Oct 2012 14:48:05 -0400Reutersinstant-view-fed-stays-course-keep-rates-low-184805155--businessWrangler jeans gear up for motorcycle riders in India(Reuters) - Wrangler jeans are getting a makeover in India and going up-market in the process as parent VF Corp customizes the all-American denims for the country's motorcycle-riding population and adds features to suit local needs. VF Corp hopes the strategy will add $1.1 billion in revenue to its Asia-Pacific business over the next five years. India, with its burgeoning middle class, is a fast-growing market for international brands that want to capitalize on opportunities in Asia's third largest economy. ...http://news.yahoo.com/wrangler-jeans-gear-motorcycle-riders-india-182907426--finance.htmlWed, 24 Oct 2012 14:29:07 -0400Reuterswrangler-jeans-gear-motorcycle-riders-india-182907426--financeFed sticks to stimulus plan, economy a bit firmer<p><a href="http://news.yahoo.com/fed-sticks-stimulus-plan-economy-bit-firmer-181747348--business.html"><img src="http://l.yimg.com/bt/api/res/1.2/ILWspZL8lnUhyYdMwjbpKA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2012-10-24T181747Z_7_CBRE89E1CEU00_RTROPTP_2_USA.JPG" width="130" height="86" alt="Dudley, president and chief executive officer of the Federal Reserve Bank of New York, speaks at the Council on Foreign Relations in New York" align="left" title="Dudley, president and chief executive officer of the Federal Reserve Bank of New York, speaks at the Council on Foreign Relations in New York" border="0" /></a>WASHINGTON (Reuters) - The Federal Reserve on Wednesday stuck to its plan to keep stimulating the U.S. economy until the job market improves and repeated its vow to keep rates near zero until mid-2015. In a policy statement after a two-day meeting, the central bank acknowledged hints of strength in the U.S. housing market, but reiterated a pledge to continue supporting growth even as the recovery picks up. It said it would continue purchasing $40 billion in mortgage-backed debt per month to push interest rates lower. ...</p><br clear="all"/>http://news.yahoo.com/fed-sticks-stimulus-plan-economy-bit-firmer-181747348--business.htmlWed, 24 Oct 2012 14:17:47 -0400Reutersfed-sticks-stimulus-plan-economy-bit-firmer-181747348--business<p><a href="http://news.yahoo.com/fed-sticks-stimulus-plan-economy-bit-firmer-181747348--business.html"><img src="http://l.yimg.com/bt/api/res/1.2/ILWspZL8lnUhyYdMwjbpKA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2012-10-24T181747Z_7_CBRE89E1CEU00_RTROPTP_2_USA.JPG" width="130" height="86" alt="Dudley, president and chief executive officer of the Federal Reserve Bank of New York, speaks at the Council on Foreign Relations in New York" align="left" title="Dudley, president and chief executive officer of the Federal Reserve Bank of New York, speaks at the Council on Foreign Relations in New York" border="0" /></a>WASHINGTON (Reuters) - The Federal Reserve on Wednesday stuck to its plan to keep stimulating the U.S. economy until the job market improves and repeated its vow to keep rates near zero until mid-2015. In a policy statement after a two-day meeting, the central bank acknowledged hints of strength in the U.S. housing market, but reiterated a pledge to continue supporting growth even as the recovery picks up. It said it would continue purchasing $40 billion in mortgage-backed debt per month to push interest rates lower. ...</p><br clear="all"/>The Federal Reserve says the US economy is growing moderately, takes no new stepsThe Federal Reserve says the US economy is growing moderately, takes no new steps.http://news.yahoo.com/federal-says-us-economy-growing-moderately-takes-no-181616757--finance.htmlWed, 24 Oct 2012 14:16:05 -0400Associated Pressfederal-says-us-economy-growing-moderately-takes-no-181616757--financeSilgan 3Q net income nearly flat, revenue dipsSilgan's third-quarter net income was nearly flat as the packaging products supplier dealt with some charges and tough economic conditions.http://news.yahoo.com/silgan-3q-net-income-nearly-flat-revenue-dips-180217589--finance.htmlWed, 24 Oct 2012 14:02:17 -0400Associated Presssilgan-3q-net-income-nearly-flat-revenue-dips-180217589--financeHow chips, PCs, services companies are faring<p><a href="http://news.yahoo.com/chips-pcs-services-companies-faring-001157826.html"><img src="http://l.yimg.com/bt/api/res/1.2/3pUBOxw9Pmc0d1iKHo4dkg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3B4b2ZmPTUwO3B5b2ZmPTA7cT04NTt3PTEzMA--/http://media.zenfs.com/en_us/News/ap_webfeeds/ea633dc6088ca414150f6a706700021a.jpg" width="130" height="86" alt="In this Thursday, July 12, 2012, photo, Intel Core i7 processors are stacked at a store in Cambridge, Mass. Intel, the world's largest chipmaker, said Tuesday, July 17, 2012, the weak global economy is slowing its growth as its earnings fell 4.3 per cent in the latest quarter as operating expenses rose faster than revenue. (AP Photo/Charles Krupa)" align="left" title="In this Thursday, July 12, 2012, photo, Intel Core i7 processors are stacked at a store in Cambridge, Mass. Intel, the world's largest chipmaker, said Tuesday, July 17, 2012, the weak global economy is slowing its growth as its earnings fell 4.3 per cent in the latest quarter as operating expenses rose faster than revenue. (AP Photo/Charles Krupa)" border="0" /></a>Companies providing computers, components, services and related software have begun releasing their earnings reports for the latest quarter. The reports come as consumers shift their spending toward tablets and a weak global economy curbs corporate spending on computers. Here's a look at how selected companies are faring.</p><br clear="all"/>http://news.yahoo.com/chips-pcs-services-companies-faring-001157826.htmlWed, 24 Oct 2012 13:36:30 -0400Associated Presschips-pcs-services-companies-faring-001157826<p><a href="http://news.yahoo.com/chips-pcs-services-companies-faring-001157826.html"><img src="http://l.yimg.com/bt/api/res/1.2/3pUBOxw9Pmc0d1iKHo4dkg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3B4b2ZmPTUwO3B5b2ZmPTA7cT04NTt3PTEzMA--/http://media.zenfs.com/en_us/News/ap_webfeeds/ea633dc6088ca414150f6a706700021a.jpg" width="130" height="86" alt="In this Thursday, July 12, 2012, photo, Intel Core i7 processors are stacked at a store in Cambridge, Mass. Intel, the world's largest chipmaker, said Tuesday, July 17, 2012, the weak global economy is slowing its growth as its earnings fell 4.3 per cent in the latest quarter as operating expenses rose faster than revenue. (AP Photo/Charles Krupa)" align="left" title="In this Thursday, July 12, 2012, photo, Intel Core i7 processors are stacked at a store in Cambridge, Mass. Intel, the world's largest chipmaker, said Tuesday, July 17, 2012, the weak global economy is slowing its growth as its earnings fell 4.3 per cent in the latest quarter as operating expenses rose faster than revenue. (AP Photo/Charles Krupa)" border="0" /></a>Companies providing computers, components, services and related software have begun releasing their earnings reports for the latest quarter. The reports come as consumers shift their spending toward tablets and a weak global economy curbs corporate spending on computers. Here's a look at how selected companies are faring.</p><br clear="all"/>Teck defers capital spending; profit sagsTORONTO (Reuters) - Teck Resources Inc said on Wednesday it would defer C$1.5 billion ($1.51 billion) in capital spending planned through 2013 and implement a cost-cutting plan as Canada's largest diversified miner felt the pinch of a global economic slowdown. Teck's shares were up more than 2 percent at midday, however, as its third-quarter earnings per share were not far off analysts' expectations despite a sharp fall in profit on sagging coal sales and prices. ...http://news.yahoo.com/teck-defers-capital-spending-profit-sags-172137543--finance.htmlWed, 24 Oct 2012 13:21:37 -0400Reutersteck-defers-capital-spending-profit-sags-172137543--financeBuffett says US economy still inching ahead<p><a href="http://news.yahoo.com/buffett-says-us-economy-still-inching-ahead-120438311--finance.html"><img src="http://l3.yimg.com/bt/api/res/1.2/VDgXDzagB.3RoxGUXByQeg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/3ac6fd3efce9e81d1e0f6a7067006d0b.jpg" width="130" height="86" alt="FILE - In this Tuesday, June 5, 2012, file photo, Warren Buffett, chairman and CEO, of Berkshire Hathaway, Inc., speaks during the Economic Club of Washington's 25th anniversary celebration dinner in Washington. Billionaire investor Warren Buffett said Wednesday, Oct. 24, 2012, that the global economy is definitely slowing because of continued problems in Europe and the decline in Asia, but the U.S. economy is still improving modestly and business will improve regardless of who wins the presidential election. (AP Photo/Cliff Owen, File)" align="left" title="FILE - In this Tuesday, June 5, 2012, file photo, Warren Buffett, chairman and CEO, of Berkshire Hathaway, Inc., speaks during the Economic Club of Washington's 25th anniversary celebration dinner in Washington. Billionaire investor Warren Buffett said Wednesday, Oct. 24, 2012, that the global economy is definitely slowing because of continued problems in Europe and the decline in Asia, but the U.S. economy is still improving modestly and business will improve regardless of who wins the presidential election. (AP Photo/Cliff Owen, File)" border="0" /></a>Billionaire investor Warren Buffett said Wednesday that the global economy is definitely slowing because of continued problems in Europe and the decline in Asia.</p><br clear="all"/>http://news.yahoo.com/buffett-says-us-economy-still-inching-ahead-120438311--finance.htmlWed, 24 Oct 2012 13:16:36 -0400Associated Pressbuffett-says-us-economy-still-inching-ahead-120438311--finance<p><a href="http://news.yahoo.com/buffett-says-us-economy-still-inching-ahead-120438311--finance.html"><img src="http://l3.yimg.com/bt/api/res/1.2/VDgXDzagB.3RoxGUXByQeg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/3ac6fd3efce9e81d1e0f6a7067006d0b.jpg" width="130" height="86" alt="FILE - In this Tuesday, June 5, 2012, file photo, Warren Buffett, chairman and CEO, of Berkshire Hathaway, Inc., speaks during the Economic Club of Washington's 25th anniversary celebration dinner in Washington. Billionaire investor Warren Buffett said Wednesday, Oct. 24, 2012, that the global economy is definitely slowing because of continued problems in Europe and the decline in Asia, but the U.S. economy is still improving modestly and business will improve regardless of who wins the presidential election. (AP Photo/Cliff Owen, File)" align="left" title="FILE - In this Tuesday, June 5, 2012, file photo, Warren Buffett, chairman and CEO, of Berkshire Hathaway, Inc., speaks during the Economic Club of Washington's 25th anniversary celebration dinner in Washington. Billionaire investor Warren Buffett said Wednesday, Oct. 24, 2012, that the global economy is definitely slowing because of continued problems in Europe and the decline in Asia, but the U.S. economy is still improving modestly and business will improve regardless of who wins the presidential election. (AP Photo/Cliff Owen, File)" border="0" /></a>Billionaire investor Warren Buffett said Wednesday that the global economy is definitely slowing because of continued problems in Europe and the decline in Asia.</p><br clear="all"/>Business events scheduled for ThursdayMajor business events and economic events scheduled for Thursday:http://news.yahoo.com/business-events-scheduled-thursday-183031597.htmlWed, 24 Oct 2012 13:02:09 -0400Associated Pressbusiness-events-scheduled-thursday-183031597News Summary: Corning may make job cutsTRIMMING AHEAD: Glass and ceramics maker Corning Inc. said Wednesday that it will likely make some cost cuts, which may include "modest" job cuts, as it looks to support its profit in a softening economy.http://news.yahoo.com/news-summary-corning-may-job-cuts-165947695--finance.htmlWed, 24 Oct 2012 12:59:47 -0400Associated Pressnews-summary-corning-may-job-cuts-165947695--financeDow Chemical's shares jump on restructuring planShares of Dow Chemical Co. jumped Wednesday after the manufacturing giant said it will close some 20 manufacturing facilities and eliminate 2,400 jobs in an effort to cut costs in the slow global economy.http://news.yahoo.com/dow-chemicals-shares-jump-restructuring-plan-164726758--finance.htmlWed, 24 Oct 2012 12:47:26 -0400Associated Pressdow-chemicals-shares-jump-restructuring-plan-164726758--financeMarkets recover as China hopes offset Europe gloom<p><a href="http://news.yahoo.com/markets-recover-china-hopes-offset-europe-gloom-144442349--finance.html"><img src="http://l2.yimg.com/bt/api/res/1.2/eSdE2lnUEPXlcdmQVmUAow--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/788a01d2e2afce1d1e0f6a7067003c74.jpg" width="130" height="86" alt="Goldman Sachs specialist Edward Loggie works on the floor of the New York Stock Exchange Tuesday, Oct. 23, 2012. Stocks are falling sharply at the opening of trading on Wall Street after 3M and DuPont slashed their earnings forecasts. (AP Photo/Richard Drew)" align="left" title="Goldman Sachs specialist Edward Loggie works on the floor of the New York Stock Exchange Tuesday, Oct. 23, 2012. Stocks are falling sharply at the opening of trading on Wall Street after 3M and DuPont slashed their earnings forecasts. (AP Photo/Richard Drew)" border="0" /></a>Financial markets edged higher Wednesday, recovering from a heavy sell-off the day before and as upbeat economic indicators from China offset the impact of dire ones from Europe.</p><br clear="all"/>http://news.yahoo.com/markets-recover-china-hopes-offset-europe-gloom-144442349--finance.htmlWed, 24 Oct 2012 12:27:13 -0400Associated Pressmarkets-recover-china-hopes-offset-europe-gloom-144442349--finance<p><a href="http://news.yahoo.com/markets-recover-china-hopes-offset-europe-gloom-144442349--finance.html"><img src="http://l2.yimg.com/bt/api/res/1.2/eSdE2lnUEPXlcdmQVmUAow--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/788a01d2e2afce1d1e0f6a7067003c74.jpg" width="130" height="86" alt="Goldman Sachs specialist Edward Loggie works on the floor of the New York Stock Exchange Tuesday, Oct. 23, 2012. Stocks are falling sharply at the opening of trading on Wall Street after 3M and DuPont slashed their earnings forecasts. (AP Photo/Richard Drew)" align="left" title="Goldman Sachs specialist Edward Loggie works on the floor of the New York Stock Exchange Tuesday, Oct. 23, 2012. Stocks are falling sharply at the opening of trading on Wall Street after 3M and DuPont slashed their earnings forecasts. (AP Photo/Richard Drew)" border="0" /></a>Financial markets edged higher Wednesday, recovering from a heavy sell-off the day before and as upbeat economic indicators from China offset the impact of dire ones from Europe.</p><br clear="all"/>ECB's Draghi faces German lawmakers<p><a href="http://news.yahoo.com/ecbs-draghi-faces-german-lawmakers-132012247--finance.html"><img src="http://l.yimg.com/bt/api/res/1.2/wJYNxED5iDrf0TS6w_JT9A--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/d68e9ad6fc13e51d1e0f6a706700d811.jpg" width="130" height="86" alt="The president of the European Central Bank, Mario Draghi, left, and the President of the German Federal Parliament, Bundestag, Norbert Lammert, right, arrive for a meeting with members of the parliament in Berlin, Germany, Wednesday, Oct. 24, 2012. Draghi meets with German lawmakers to discuss his plans to buy bonds of ailing eurozone members. (AP Photo/Michael Sohn)" align="left" title="The president of the European Central Bank, Mario Draghi, left, and the President of the German Federal Parliament, Bundestag, Norbert Lammert, right, arrive for a meeting with members of the parliament in Berlin, Germany, Wednesday, Oct. 24, 2012. Draghi meets with German lawmakers to discuss his plans to buy bonds of ailing eurozone members. (AP Photo/Michael Sohn)" border="0" /></a>The European Central Bank's president drew a broadly positive response from German lawmakers Wednesday when he told them that his bond-buying plan won't stoke inflation and will not allow struggling countries to backslide on economic reforms.</p><br clear="all"/>http://news.yahoo.com/ecbs-draghi-faces-german-lawmakers-132012247--finance.htmlWed, 24 Oct 2012 11:56:43 -0400Associated Pressecbs-draghi-faces-german-lawmakers-132012247--finance<p><a href="http://news.yahoo.com/ecbs-draghi-faces-german-lawmakers-132012247--finance.html"><img src="http://l.yimg.com/bt/api/res/1.2/wJYNxED5iDrf0TS6w_JT9A--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/d68e9ad6fc13e51d1e0f6a706700d811.jpg" width="130" height="86" alt="The president of the European Central Bank, Mario Draghi, left, and the President of the German Federal Parliament, Bundestag, Norbert Lammert, right, arrive for a meeting with members of the parliament in Berlin, Germany, Wednesday, Oct. 24, 2012. Draghi meets with German lawmakers to discuss his plans to buy bonds of ailing eurozone members. (AP Photo/Michael Sohn)" align="left" title="The president of the European Central Bank, Mario Draghi, left, and the President of the German Federal Parliament, Bundestag, Norbert Lammert, right, arrive for a meeting with members of the parliament in Berlin, Germany, Wednesday, Oct. 24, 2012. Draghi meets with German lawmakers to discuss his plans to buy bonds of ailing eurozone members. (AP Photo/Michael Sohn)" border="0" /></a>The European Central Bank's president drew a broadly positive response from German lawmakers Wednesday when he told them that his bond-buying plan won't stoke inflation and will not allow struggling countries to backslide on economic reforms.</p><br clear="all"/>Corning may make job cuts as part of cost cutsCorning said Wednesday that it will likely cut costs, which may include "modest" job cuts, to support profit in a weakening economy.http://news.yahoo.com/corning-may-job-cuts-part-cost-cuts-130827075--finance.htmlWed, 24 Oct 2012 11:36:18 -0400Associated Presscorning-may-job-cuts-part-cost-cuts-130827075--financeAEP 3Q earnings fall on lower power demandAmerican Electric Power's net income fell 48 percent in the third quarter as customers' conservation efforts and a slow economy reduced demand for electricity.http://news.yahoo.com/aep-3q-earnings-fall-lower-power-demand-150212705--finance.htmlWed, 24 Oct 2012 11:02:12 -0400Associated Pressaep-3q-earnings-fall-lower-power-demand-150212705--financeUS new-home sales rise to highest in 2? years<p><a href="http://news.yahoo.com/us-home-sales-rise-highest-2-years-142346237--finance.html"><img src="http://l3.yimg.com/bt/api/res/1.2/b0NKUmUBLUOAvMcD2fj8GA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/785695eafc83e71d1e0f6a706700a36f.jpg" width="130" height="86" alt="In this Friday, Sept. 21, 2012, photo, a new home is under construction in Edmond, Okla. U.S. sales of new homes jumped in September to the highest level in more than two years, further evidence of a sustained housing recovery that could help lift the lackluster economy. The Commerce Department said Wednesday, Oct. 24, 2012, that new home sales rose 5.7 percent in September to a seasonally adjusted annual rate of 389,000. That's up from a rate of 368,000 in August and the highest rate since April 2010, when a federal homebuyer tax credit inflated sales. (AP Photo/Sue Ogrocki)" align="left" title="In this Friday, Sept. 21, 2012, photo, a new home is under construction in Edmond, Okla. U.S. sales of new homes jumped in September to the highest level in more than two years, further evidence of a sustained housing recovery that could help lift the lackluster economy. The Commerce Department said Wednesday, Oct. 24, 2012, that new home sales rose 5.7 percent in September to a seasonally adjusted annual rate of 389,000. That's up from a rate of 368,000 in August and the highest rate since April 2010, when a federal homebuyer tax credit inflated sales. (AP Photo/Sue Ogrocki)" border="0" /></a>U.S. sales of new homes jumped last month to the highest level in more than two years, further evidence of a sustained housing recovery that could help lift the lackluster economy.</p><br clear="all"/>http://news.yahoo.com/us-home-sales-rise-highest-2-years-142346237--finance.htmlWed, 24 Oct 2012 10:55:31 -0400Associated Pressus-home-sales-rise-highest-2-years-142346237--finance<p><a href="http://news.yahoo.com/us-home-sales-rise-highest-2-years-142346237--finance.html"><img src="http://l3.yimg.com/bt/api/res/1.2/b0NKUmUBLUOAvMcD2fj8GA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/785695eafc83e71d1e0f6a706700a36f.jpg" width="130" height="86" alt="In this Friday, Sept. 21, 2012, photo, a new home is under construction in Edmond, Okla. U.S. sales of new homes jumped in September to the highest level in more than two years, further evidence of a sustained housing recovery that could help lift the lackluster economy. The Commerce Department said Wednesday, Oct. 24, 2012, that new home sales rose 5.7 percent in September to a seasonally adjusted annual rate of 389,000. That's up from a rate of 368,000 in August and the highest rate since April 2010, when a federal homebuyer tax credit inflated sales. (AP Photo/Sue Ogrocki)" align="left" title="In this Friday, Sept. 21, 2012, photo, a new home is under construction in Edmond, Okla. U.S. sales of new homes jumped in September to the highest level in more than two years, further evidence of a sustained housing recovery that could help lift the lackluster economy. The Commerce Department said Wednesday, Oct. 24, 2012, that new home sales rose 5.7 percent in September to a seasonally adjusted annual rate of 389,000. That's up from a rate of 368,000 in August and the highest rate since April 2010, when a federal homebuyer tax credit inflated sales. (AP Photo/Sue Ogrocki)" border="0" /></a>U.S. sales of new homes jumped last month to the highest level in more than two years, further evidence of a sustained housing recovery that could help lift the lackluster economy.</p><br clear="all"/>EMC slides after 3Q results show slowdownEMC Corp.'s net income and revenue grew at a slower pace in the third quarter as the uncertain economy led to more cautious spending by customers for its data storage equipment.http://news.yahoo.com/emc-slides-3q-results-show-slowdown-145023501--finance.htmlWed, 24 Oct 2012 10:50:23 -0400Associated Pressemc-slides-3q-results-show-slowdown-145023501--financeSudan's Bank of Khartoum to restart Islamic bond salesKHARTOUM (Reuters) - Bank of Khartoum, Sudan's oldest bank, plans to start selling Islamic corporate bonds, or sukuks, again as the economic outlook for African country improves in the wake of an oil deal with South Sudan, its general manager said. Fadi Salim Faqih told Reuters the Islamic bank, which is around a fifth-owned by Dubai Islamic Bank, expects to post a record profit this year boosted by strong lending and a substantial windfall from the devaluation of the Sudanese pound. ...http://news.yahoo.com/sudans-bank-khartoum-restart-islamic-bond-sales-144112703--sector.htmlWed, 24 Oct 2012 10:41:12 -0400Reuterssudans-bank-khartoum-restart-islamic-bond-sales-144112703--sector
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