IBT Staff Reporter

120511-120540 (out of 154953)

Venice Fest short on prizes for local fare

The Italian press, which before the Venice Film Festival had celebrated the high number of Italian films in the festival's official selection, has gone into a period of soul searching and finger pointing after Italian films were for the most part excluded from the event's major prizes.

Fiat brand hopes for 7 pct Europe mkt share

Italy car maker Fiat SpA (FIA.MI) hopes for a 7 percent European market share for its Fiat brand at the year end, Fiat brand CEO Lorenzo Sistino said on Tuesday speaking at the Frankfurt Motor Show.

Lehman bust highlights analyst group-think disease

All of Wall Street's bank analysts were caught out by Lehman's collapse -- and few have redeemed themselves since. Just a handful have dared to issue a buy on bank stocks that have surged since March -- after they all failed to slap that sell on Lehman Brothers before it went bust a year ago.

Ssangyong hit unlikely to deter China carmakers

Cash-strapped South Korean automaker Ssangyong Motor (003620.KS) proposed a capital writedown on Tuesday that would slash the stake of SAIC Motor (600104.SS), its Chinese majority shareholder.

U.S. retail sales surge, producer prices up on energy

Sales at U.S. retailers rose at their fastest pace in three-and-half years in August and a gauge of manufacturing in New York State hit a near two-year high, bolstering views the economy was emerging from recession.

Kraft may sell assets to raise Cadbury cash: report

U.S. food company Kraft Foods might sell assets like Maxwell House and Oscar Mayer to finance its planned acquisition of British confectioner Cadbury , the New York Post reported, citing sources familiar with the matter.

Rivals jostle for JAL stake; Asia access prized

Japan Airlines Corp is likely to opt for a tie-up with Delta Air Lines Inc or AMR Corp's American Airlines, among rivals seeking to invest in the loss-making carrier, if Japan and the United States can reach an open skies agreement.

European carmakers ask if sales rise can last

News that European car sales rose for a third consecutive month in August kicked off the Frankfurt Motor Show, where automakers are showcasing green technology they hope will transform the industry.

BASF gets OK for new herbicide from U.S. EPA

BASF SE said on Tuesday it has received approval from the Environmental Protection Agency for a new herbicide that it will market as a complement to a popular Monsanto Co herbicide.

Auto incentives, gas to buoy U.S. Aug retail sales

Sales at U.S. retailers likely rose at their fastest pace in more than three and a half years in August, fueled by cash incentives to buy autos and by higher gasoline prices, according to a Reuters poll.

Capital One credit card defaults fall in August

Capital One Financial Corp's U.S. credit-card defaults fell in August, reinforcing signs that, despite job losses and the housing crisis, American consumers may not be in as bad shape as feared.

Rockefeller & Co's CEO committed suicide - WSJ

James McDonald, chief executive officer of investment management firm Rockefeller & Co, committed suicide on Sunday in Massachusetts, the Wall Street Journal said, citing people familiar with the matter.

Stock futures edge lower ahead of data

U.S. stock index futures edged lower on Tuesday as investors awaited key economic data, including the retail sales report, for more evidence of an economic recovery.

Dirty Dancing star Patrick Swayze dead at 57

Actor Patrick Swayze, whose turn as a smoldering dance instructor in Dirty Dancing made him one of the iconic film stars of the 1980s, died on Monday after a long battle with pancreatic cancer. He was 57.

Many climate change costs seen avoidable

Climate change could cost some countries up to 19 percent of their gross domestic product by 2030, a panel including major insurance, banking and consulting companies as well as the European Commission said on Monday.

Oil rises to $69; position limit fears cap gains

Oil rose toward $69 a barrel on Tuesday, lifted by a weaker dollar and an expected draw in U.S. crude stocks, but concerns that a major U.S. exchange will increase enforcement of position limits capped gains.

Sales rise boosts European carmakers' spirits

News that European car sales rose for a third consecutive month in August helped lift the mood at the Frankfurt Motor Show, where automakers will showcase green technology they hope will transform the industry.

China shares end up, new one-month closing high

SHANGHAI, Sept 15 (Reuters) - China's key stock index ended up 0.2 percent on Tuesday supported by improved August FDI data while tyre makers jumped after saying the impact of the U.S. decision to impose special duties on Chinese tyre exports would be limited.

Nikkei rises 0.2 pct in choppy trade; JAL lower

TOKYO, Sept 15 (Reuters) - Japan's Nikkei average edged up 0.2 percent in choppy trade on Tuesday, buoyed by Canon Inc (7751.T) and other exporters as the yen held steady against the dollar, but worries that it may only be a brief respite limited gains.

World stocks steady, dollar above lows vs yen

World stocks held steady on Tuesday while the dollar held above this week's seven-month low against the yen as focus shifted to the state of U.S. consumers from a trade spat between the United States and China. A year after Lehman Brothers collapsed, risky assets are almost back at September 2008 levels and some G7 economies have come out of recession.

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