Business and Finance news

Asian stocks plunged Friday after discouraging U.S. economic reports unnerved investors already worried about the stability of the 17-country eurozone.
Japan’s Nikkei 225 plummeted 2.4 percent to 8,660.23, as a strengthening yen battered the country’s behemoth export sector.
Hong Kong’s Hang Seng fell 2.1 percent to 18,802.45 and Australia’s S&P/ASX 200 dropped 2.2 percent to 4,064.40.
South Korea’s […]

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Four elections this weekend have the potential to reshape the European political map and show how the response to the financial crisis remains hostage to the whims of voters on both sides of the region

Turning up the heat on talks aimed at making sure nonprofit hospitals do enough charitable work, Illinois Gov. Pat Quinn stuck to his Thursday deadline and authorized the Department of Revenue to resume decisions that could strip some health care institutions of valuable tax exemptions.
The Democratic governor’s action came a day after negotiations failed to […]

A federal judge has dismissed a lawsuit against agricultural biotechnology giant Monsanto Co. that sought to protect organic farmers from litigation if their fields were to become contaminated by genetically altered seed.
Federal judge Naomi Buchwald of the Southern District of New York ruled last week that the plaintiffs, which include more than 80 agricultural organizations […]

Construction giant URS Corp. is acquiring the Canadian oil and gas contractor Flint Energy Services Ltd. for $1.25 billion in cash.
URS, based in San Francisco, said Monday that the deal will significantly expand its presence in the oil and gas industry. It will add to URS’ earnings this year and boost oil and gas revenue […]

The stock market struggled for direction Friday as developments on Greek debt talks idled and U.S. inflation came in at expected levels.
The Dow Jones industrial average rose as much as 49 points in early trading before giving up some of those gains. It was up 28 points to 12,932 at 11:30 a.m.
It was a quiet […]

Iran’s state TV is reporting the country has produced laser-guided artillery shells, capable of hitting moving targets with high accuracy.
The Monday report quoting Defense Minister Gen. Ahmad Vahidi also says that the shell was an “intelligent” munition with the capability to identify its own targets.
The report was accompanied by footage showing an artillery piece firing […]

South Africa

The official in charge of rescue efforts for the Costa Concordia says unregistered passengers might have been aboard the cruise liner when it struck a reef and capsized.
Civil protection chief Franco Gabrielli also told reporters Sunday that relatives of a Hungarian woman have told Italian authorities that she had telephoned them from aboard the ship […]

South Korea and Indonesia will probably keep interest rates unchanged this week as a drop in their currencies risks heightening inflationary pressures even as the faltering global economy undermines growth prospects.
All 14 economists surveyed by Bloomberg News expect the Bank of Korea to keep the benchmark seven-day repurchase rate unchanged at 3.25 percent on […]