Business in brief: Lou Dobbs quits CNN

New York – Longtime CNN host Lou Dobbs shocked his viewers Wednesday by announcing that he would be leaving the network effective immediately.

The daily host of “Lou Dobbs Tonight” said CNN had allowed him to be released from his contract early and that he was considering a number of options for the next stage in his career.

“I will let you know when I set my course,” he said.

The longest-running anchor on CNN’s air, Dobbs was one of the nation’s leading financial journalists before turning his program in a more opinionated direction. His persistent advocacy against illegal immigration angered many.

Associated Press

Macy’s posts smaller loss

New York – Macy’s Inc.’s third-quarter loss shrunk as tight inventory controls and a move to localize merchandise at its department stores by region paid off. The company also raised its full-year profit and sales outlook.

The profit outlook, including a tempered forecast for the fourth quarter, didn’t go as high as analysts expected, and shares fell $1.57, or more than 8 percent, to close at $17.86.

The department store operator, based in Cincinnati, said Wednesday that it lost $35 million, or 8 cents per share, in the quarter ended Oct. 31. That compares with $44 million, or 10 cents per share, in the year-ago period. Reported revenue fell almost 4 percent to $5.28 billion.

Associated Press

Foreclosure activity eases

New York – The number of homeowners on the brink of losing their homes dipped in October, the third straight monthly decline, as foreclosure prevention programs helped more borrowers.

But foreclosure filings are still up 19 percent from a year ago, RealtyTrac Inc. said Thursday, and rising job losses continue to threaten the stabilizing trend.

More than 332,000 households, or one in every 385 homes, received a foreclosure-related notice in October, such as a notice of default or trustee’s sale. That’s down 3 percent from September.

Associated Press

Airline considers more A380s

Dubai, United Arab Emirates – Emirates airline, the biggest buyer of the “superjumbo” Airbus A380, said Wednesday it is considering increasing its order for the double-decker plane despite delays on existing orders.

Speaking ahead of next week’s Dubai Air Show, Emirates Chairman and Chief Executive Sheik Ahmed bin Saeed Al Maktoum told reporters the Dubai-based carrier is looking to boost its order beyond the 58 it has already requested – the most booked by any airline.

Associated Press