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U.S. markets news

VW exec blames 'a couple of' rogue engineers for emissions scandal
Michael Horn, chief executive of Volkswagen Group of America, apologized and promised a full investigation into the company's emissions-cheating scandal at the first congressional hearing on the matter.
UPDATE 2-Volkswagen Australia to recall all vehicles with emissions cheating ...  Reuters
CompaniesVolkswagen to recall 90k cars Down Under  Financial Times
Sky News Australia  
Asia stocks shine as Fed minutes confirm no urgency to tighten policy
TOKYO Asian shares rose on Friday, taking their cue from a jump in oil prices as well as gains on Wall Street after minutes of the Federal Reserve's latest meeting led investors to further pare bets that the central bank will hike interest rates this ...
Nikkei Up After FOMC Minutes  Wall Street Journal
Fed Held Rates Steady Over Concerns About Weak Growth Abroad  New York Times
Bill Gross' lawsuit tells of "lust for power, greed" at Pimco
Bill Gross portrays himself as the victim of retaliation by “younger executives” after he pushed for lower fees and opposed moves toward what he believed were riskier investments.
Bill Gross Seeks Millions in Pimco Suit  Nasdaq
An irate Bill Gross is suing Pimco for hundreds of millions of dollars  Quartz
Another ride-hailing app enters the Boston scene
Amid rising tension between Boston's cab companies and app-based ride-hailing services, like Uber and Lyft, a new provider is stepping into the game.
Lyft Joins with Hertz to Let Drivers Rent Cars for Pickups  WIRED
Lyft Adds Rental-Car, Fuel Perks in Driver Battle With Uber  Wall Street Journal (blog)
Bill Ackman says short-term money driving market volatility
NEW YORK William Ackman, head of hedge fund firm Pershing Square Capital Management, said on Tuesday that financial market volatility was being driven by short-term money without regard to long-term economic fundamentals and that Valeant ...
Bill Ackman: Valeant is "The Most Undervalued" Stock in His Portfolio  Barron's (blog)
Netflix shares surge on subscription price hike
Shares of Netflix (NFLX) closed up more than 6% after the streaming video provider raised the price of its basic monthly service by $1.
It's going to cost more to binge-watch your favorite shows  New York Post
Oh No! The Cost of Netflix Is Going Up
UPDATE 1-PC shipments fall 7.7 pct in third quarter - Gartner
(Adds details). Oct 8 (Reuters) - Research firm Gartner Inc said worldwide shipments of personal computers fell 7.7 percent to 73.7 million units in the third quarter as a stronger dollar made them costlier.
Apple Mac Sales Slow to Lowest Rate in Two Years –Analysts  Wall Street Journal (blog)
Lenovo Consolidates, Apple Gains: Q3 PCs a Mix of Struggle and Hope  Barron's (blog)
Canadian Oil Sands responds to hostile Suncor bid
CALGARY - Canadian Oil Sands Ltd. (TSX:COS) has adopted a new shareholder rights plan -- often referred to as a poison pill defence -- following a hostile takeover bid from Suncor Energy.
Why Canadian Oil Sands Ltd. Just Soared 50%  The Motley Fool Canada
Amazon online shop for handmade goods
Online retail colossus Amazon has opened a shop showcasing handmade goods sold directly by artisans. Handmade at Amazon came as a challenge to New York City-based Etsy, an e-commerce website devoted to personally crafted and vintage items.
Amazon challenges Etsy with Handmade at Amazon  Los Angeles Times
Amazon Takes On Etsy to See Who's More #Authentic  WIRED
UPDATE 3-Alcoa profit misses as aluminum prices slide
(New throughout, adds more details on split of company, additional comments from executives). By Meredith Davis. Oct 8 (Reuters) - Alcoa Inc reported a smaller-than-expected quarterly profit, hurt by slumping prices for aluminum and other commodities ...
Alcoa shares fall farther as profit slips  MarketWatch
Alcoa profit misses estimates as aluminum extends price decline  Chicago Tribune