Business News


Congress will try to avert a manufactured economic crisis this week and raise the debt ceiling. The government is set to run out of money a week from Tuesday. (Roll Call)
 
Toyota was the world's best-selling automaker during the first nine months of the year, selling almost 7.5 million cars and trucks. Volkswagen, which had been No. 1 over the first half of the year, was second. (CNBC)
 
In the battle to prevent identity theft Diebold and Citigroup are testing a new eye-scanning ATM, which would allow withdrawals with an eye scan or a smartphone code. (Wall Street Journal)
 
It is merger Monday and Duke Energy, the largest U.S. power company by generation capacity, is buying natural gas distributor Piedmont Natural Gas for $4.9 billion in cash. (Reuters)
 
Xerox reported quarterly profits below estimates and is undertaking a "comprehensive review of structural options". The company reported a net loss of $34 million, compared with a profit of $266 million last year. Revenue fell 9.6% to $4.33 billion. (Reuters)
 
Oil is flat at $44.65 a barrel. Gasoline prices fell another 10.5 cents last week. Consumers are saving  nearly a dollar a gallon at the pump compared with a year ago. (Lundberg survey)

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