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AP Business NewsBrief at 9:44 p.m. EDT(Associated Press Via Acquire Media NewsEdge) Market rebounds as dollar falls; Dow up 129NEW YORK (AP) _ A decline in the dollar helped fuel a market rebound on Wednesday that nearly erased a big-sell off the day before brought on by fears of a slowdown in China. Stocks had fallen more than 1 percent Tuesday after a surprise interest rate increase in China, the first time the country had raised rates in nearly three years. That made some traders concerned that slower growth in China might put a drag on the global economy. AP IMPACT: Israeli settlers building 544 new homesKARMEI TZUR, West Bank (AP) _ Israeli settlers have begun building new homes at an extraordinary pace since the government lifted its moratorium on West Bank housing starts _ almost 550 in three weeks, more than four times faster than the last two years. And many homes are going up in areas that under practically any peace scenario would become part of a Palestinian state, a trend that could doom U.S.-brokered peace talks. Fed survey points to uneven growth across USWASHINGTON (AP) _ The U.S. economy grew unevenly in early fall, with more than half the regions of the country expanding modestly while others struggled to grow. A survey by the Federal Reserve released Wednesday found that seven of the Fed's 12 regions reported moderate improvements in business activity. Three regions _ Philadelphia, Richmond and Cleveland _ described economic activity as mixed or steady. Only two regions _ Atlanta and Dallas _ suggested economic growth was slow. Delta, AMR, US Airways post 3Q profitsDALLAS (AP) _ Airlines can't control the economy, but by limiting the number of seats for sale they are pushing up fares and earning their biggest profits in three years. Delta, US Airways and the parent of American Airlines all posted higher-than-expected earnings for the peak summer travel season. They were helped by rapid growth in international traffic and a budding recovery in corporate travel. Delta and US Airways gave upbeat outlooks for the upcoming holidays. NY to hold lawyers accountable on foreclosuresNEW YORK (AP) _ The chief judge of New York's courts on Wednesday imposed a new rule requiring lawyers handling foreclosures to verify that all paperwork is accurate. The move comes amid an uproar over accusations that mortgage lenders nationwide cut corners on paperwork and legal procedure as they moved to seize millions of homes. It follows a slew of other state efforts to respond to the foreclosure-paperwork debacle. Penthouse magazine founder Bob Guccione dies at 79DALLAS (AP) _ Bob Guccione, who founded Penthouse magazine and created an erotic corporate empire around it, only to see it crumble as his investments soured and the world of pornography turned toward video and the Internet, died Wednesday. He was 79. A statement issued by the Guccione family says he died at Plano Specialty Hospital in Plano. His wife, April Dawn Warren Guccione, had said he had battled lung cancer for several years. Netflix customer growth eclipses 3Q earnings missSAN FRANCISCO (AP) _ Netflix Inc.'s video subscription service won another horde of new fans in the third quarter, overshadowing a rare earnings shortfall. The addition of 1.9 million subscribers seemed to matter far more to investors than an earnings figure that was a penny below analyst estimates. Netflix shares surged by more than 9 percent after the numbers came out. Wells Fargo profit rises as loan defaults easeNEW YORK (AP) _ Wells Fargo & Co. reported a 19 percent increase in its third-quarter income Wednesday as losses from bad loans declined, a hopeful sign that American businesses and consumers are becoming more financially stable. The San Francisco-based bank earned $3.15 billion, or 60 cents per share, in the three months ending in September, beating analysts' expectations by 5 cents per share. The bank earned $2.64 billion, or 56 cents per share, in the same period a year earlier. EBay 3Q profit rises 23 percentSAN FRANCISCO (AP) _ EBay Inc. on Wednesday said its third-quarter profit climbed 23 percent, helped by its growing PayPal business. The online marketplace operator also predicted results for the current quarter that were better than analysts had been expecting, sending its shares up more than 7 percent in after-hours trading. Apple looks to iPhone, iPad for Mac inspirationCUPERTINO, Calif. (AP) _ Apple's iPhone and iPads have been such hits that the company is now looking for ways to bring some of their cachet to its laptops and desktops. Apple Inc. offered glimpses on Wednesday of an updated Mac operating system, called Mac OS X Lion. The company highlighted features that borrow from the lighter-weight iOS that runs on its mobile gadgets. (c) 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. |