Alcoa, the biggest aluminum producer in the U.S., has announced it posted a profit of more than $240 million in the last three months of 2012. That's a big improvement from the same quarter the year before when it lost $190 million.
Insurance company AIG holds a board meeting Wednesday to consider joining former CEO Maurice "Hank" Greenberg's lawsuit against the government over its handling of the AIG bailout in 2008. For more on the suit, Steve Inskeep talks to business reporter Michael de la Merced of The New York Times.
Originally published on Tue January 8, 2013 5:44 pm
By Krishnadev Calamur
Credit Stephan Savoia / AP
A fuel leak Tuesday on a Tokyo-bound Japan Airlines flight forced the Boeing 787 Dreamliner aircraft to cancel takeoff and return to the gate at Boston's Logan International Airport. It was the second incident involving a Dreamliner in two days.
Here's how Logan airport described the incident on its Facebook page:
In the European Union, unemployment rates in the region that uses the euro currency are at their highest ever, as a returned recession, falling income levels and persistent debt concerns trouble the region's economy, as its latest statistics show.
After nearly five years of economic crises, the European Union is also seeing more divergence between its member nations, particularly in the north, where economies have resilience, as opposed to the south, where unemployment rates are an average of more than 7 points higher.
Time was that a Swiss bank account was synonymous with confidentiality and keeping assets from prying eyes. No more.
Last week, Switzerland's oldest bank, Wegelin & Co., pleaded guilty in a New York court to helping Americans hide $1.2 billion from the Internal Revenue Service over a decade-long period. Wegelin's plea, and a $57.8 million fine, forced the bank to shut its doors. It follows a $780 million settlement with UBS in 2009 that forced the Swiss banking giant to identify the names of its U.S. account holders.
In Australia, McDonald's is nicknamed Macca. Executives of the burger chain are allowing some McDonald's restaurants there to change their signs to read "Macca's." But the change is only temporary, in honor of Australia Day later this month.
Kodak cameras and related products will be back in the marketplace this year, but they won't be made my Kodak. The photo pioneer stopped making digital cameras about a year ago. Now it is licensing its name to another camera maker.
Samsung Electronics announced profits of more than $8 billion for the final quarter of 2012. Samsung's Japanese competitor Sony unveiled a water resistant smartphone at the Consumer Electronics Show in Las Vegas.