GE posts higher
earnings in Q3
General Electric net income rose 49 percent in the third quarter, to $3.49 billion, or 33 cents per share, up 13 percent from a year earlier. Revenue rose $1 billion, to $36.35 billion, short of the $36.95 billion analysts expected. The company said it is on track to meet its target of earnings growth of at least 10 percent for the year.
Nissan adds shift
at Tenn. plant
Japanese automaker Nissan Motor Co. will add a third shift at a vehicle assembly plant in Tennessee, creating more than 800 jobs. It's the first time the plant will operate with three shifts. The additional workers bring to more than 2,000 the number of new jobs since mid-2011. About 5,600 people work at the Smyrna plant, which began production in 1983.
U.K. bank fined
for bad loan data
Britain's financial regulator has imposed a fine of $6.75 million on a unit of Lloyds Banking Group for having inaccurate mortgage records for 250,000 customers. The Financial Services Authority said problems from 2004 to 2011 resulted from having two separate unaligned systems that were not always updated.
McDonald's Inc. said its third-quarter net income fell nearly 4 percent as the stronger dollar hurt international results, which account for two-thirds of its business. Revenue was nearly flat. Revenue in stores open at least 13 months rose 1.9 percent globally, including a 1.2 percent rise in the U.S.
The newly released MoneyTree study reported that funding for startups declined 12 percent in the July-September period as venture capitalists spent less money on fewer deals. Startup investments totaled $6.49 billion, down from $7.34 billion a year earlier. There were 890 deals completed during the quarter, down 10 percent from last year.
Jeep Patriot SUVs
U.S. government safety regulators are investigating complaints that engines on Jeep Patriot SUVs can stall without warning at highway speeds. The investigation affects about 112,000 Patriots from the 2011 and 2012 model years that were sold in the U.S. To date, though, no recall has been issued.