Mid-day Update

PODCAST: Citigroup and Wells Fargo earnings, a cell phone bill warning

Mary Dooe Oct 17, 2011

Here are today’s top headlines from the Marketplace Morning Report and from around the web.

Citigroup’s third quarter earnings rose 68 percent, lifted in part by continued strength in the bank’s international operations.

Wells Fargo’s third quarter earnings rose 21 percent, though revenue fell and missed Wall Street estimates.

The Federal Communications Commission has reached an agreement with major cell phone carriers where users will be warned ahead of time when their data usage is racking up a major bill for the month.

Walmart is facing some difficulties in China — from layoffs of top executives to the shutdown of stores for mislabeling pork as organic.

Anadarko Petroleum has agreed to pay $4 billion to BP to settle all claims between them resulting from the Gulf of Mexico oil spill. Anadarko held a 25 percent share in the Macondo well which blew out in April last year. The cash will be applied to BP’s $20 billion trust fund to settle claims from the incident.

Natural pipeline giant Kinder Morgan is buying rival El Paso Corp for more than $21 billion. The deal creates the largest operator of natural-gas pipelines in the country.

And in today’s Mid-day Extra, we take a look at the booming business of tutoring in the United States — just in time for the SAT’s.

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