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February 12, 2013 09:58 AM

Tuesday Midday Business Brief

  • Stocks are little changed in the early going as weak earnings from Goodyear and other U.S. companies keep buyers away. Investors are also waiting to hear what President Barack Obama will say about the economy in his State of the Union address tonight.
  • Coca-Cola says its profit rose 13 percent in the fourth quarter as growth in emerging markets offset a decline in Europe and a modest performance in the U.S. The world's biggest beverage company says global sales volume rose 3 percent, while volume in Europe fell by 5 percent. In North America, volume rose 1 percent, boosted by its Powerade sports drinks and bottled teas.
  • Goodyear broke even for the fourth quarter, beating Wall Street expectations, but its shares are sliding after the tire company cut its full-year outlook for 2013. Revenue was down because of the sluggish economy in Europe, which saw a 16 percent drop in sales.
  • Workers protesting layoffs at a Goodyear plant in France have clashed with police. Hundreds of protesters set off red flares and threw paint bombs outside Goodyear's French headquarters near Paris today. Police responded with spurts of tear gas.
  • The Group of Seven leading industrial nations is trying to defuse fears of an impending "currency war." There have been increasing concerns around the world that governments are manipulating their exchange rates through their domestic economic policies in order to get an edge over others. In a statement posted on the Bank of England website, G-7 finance ministers and central bankers insist they remain committed to exchange rates driven by the market, not government policy.

Read more business stories on the Back To Business page.

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