Business and Finance news

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 […]

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The Commerce Trust Co. has tapped David Krauss of The Stolar Partnership to oversee the bank’s wealth management services for ultra high-net worth individuals and families.
Krauss currently is a partner at The Stolar Partnership in downtown St. Louis and heads the law firm’s Stolar Family Office business unit, which provides investment oversight for high-net worth individuals.
Krauss will join Commerce in December as managing director of The […]

Beleaguered music and movie retailer HMV Canada says sales are up since it changed its pricing structure.
It’s looking at launching the country’s first subscription-based digital music service next year.
And it’s considering a move into movie rentals as a way to boost future revenues.
There’s a hole in market since video rental retailer Blockbuster Canada filed for […]

Global stocks fell again Friday as fears of a possible U.S. recession combined with ongoing worries over Europe’s debt crisis, which is stoking acute fears over the continent’s banking sector.
However, a better than anticipated opening on Wall Street helped European markets recoup a large chunk of their earlier losses.
“This week has seen a continuation of […]

Enterprise Financial Services Corp. posted a record profit in the second quarter, boosted by growth in commercial and industrial loans and higher net interest income.
Enterprise’s $9.9 million profit, or 52 cents a share, in the second quarter that ended June 30 is up from a profit of $737,000 in the second quarter of 2010, or 1 cent […]

President Barack Obama summoned top Democratic lawmakers back to the White House Wednesday to resume negotiations on averting a potentially crippling government default, as attention focused on a new bipartisan budget plan emerging in the Senate.
The White House also indicated Obama would be willing to sign a short-term debt limit increase _ something he’s opposed […]

Canada’s hot housing market appears to be at its near-term peak, with current high prices concealing early signs of moderating market, according to a new survey released Thursday by Royal LePage.
In its House Price Survey and Market Survey Forecast, Royal LePage says Canada’s residential real estate market saw sizable year-over-year price increases in the second […]

An air safety watchdog has grounded all Australian domestic flights of a Tiger Airways subsidiary on Saturday after the budget airline twice flew under the minimum allowed altitude.
The Civil Aviation Safety Authority announced that Tiger Airways Australia’s entire domestic fleet of 10 airliners was grounded for five business days because continuing flights would pose a […]

A magnitude-6.7 earthquake rattled northeast Japan on Thursday morning, the U.S. Geological Survey reported.
Japan’s Kyodo news agency reported that the Japan Meteorological Agency issued a tsunami warning for Iwate Prefecture.
The U.S. Pacific Tsunami warning center said that it did not expect a destructive Pacific-wide tsunami.
There were no immediate reports of damage or injuries in the […]