Disney profits lifted by Avengers

The Walt Disney Company has reported higher profits, driven by the success of films such as The Avengers.Net income for the three months to June rose 24% to $1.83bn (£1.17bn) from the previous year. "We had a phenomenal third quarter, delivering the largest quarterly earnings in the history of our company," said Robert Iger, Disney's chief executive. Revenue at its parks and resorts increased 9% to $3.4bn. At its film studio, operating income increased more than six-fold to $313m. "Higher worldwide...

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Ernesto reaches hurricane strength over Central America

Tropical Storm Ernesto has reached hurricane strength while passing northern Honduras, and is approaching Belize and Mexico's Yucatan Peninsula.The US National Hurricane Centre (NHC) said it is bringing heavy rains and winds of up to 130km/h (80mph). It was 185 miles (298 km) east of Chetumal, Mexico, at about 18:00 GMT on Tuesday, and moving north-west. A hurricane warning is in effect along parts of the eastern Yucatan peninsula and the entire coast of Belize. Tropical storm warnings are also in effect for much of the Honduras coast and remaining...

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Asia Pacific Breweries: Thailand firm launches new bid

Heineken's bid to take control of Asia Pacific Breweries (APB), the maker of Tiger Beer, has taken a surprise twist after a Thai firm, Kindest Place, offered to buy a stake in the brewer.It has offered S$55 ($44; £28) a share for a 7.3% stake in APB, currently held directly by Fraser and Neave (F&N). That is 10% higher than Heineken's offer to F&N for its 40% direct and indirect stakes in APB. F&N's board had accepted Heineken's bid but it requires shareholder approval. Analysts said...

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Profile: Wisconsin Sikh temple shooter Wade Michael Page

How did an apparently sensitive child who used to enjoy family camping trips turn into a hate-filled extremist who went on a gun rampage at a Sikh temple?Wade Michael Page appears to have been a ticking time bomb of rage long before he opened fire on worshippers in suburban Milwaukee on 5 August. Originally from the US state of Colorado, the 40-year-old was living in the southern Wisconsin town of Cudahy in the days before he launched his attack. Neighbours have said Page, who was shot dead...

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Bank of England expected to cut UK growth forecasts

The Bank Of England is expected to cut growth forecasts close to zero from the 0.8% predicted in May as the double-dip recession intensifies.The quarterly inflation report is likely to indicate no growth for 2012 compared with 2% predicted a year ago. Governor Sir Mervyn King is expected to be asked about a possible interest rate cut from the current record 0.5%. Presenting his last report in May, he said the UK would not be "unscathed" by the eurozone "storm". The UK recession deepened between...

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