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Italian officials have lowered the number of people still unaccounted-for in the grounding of a cruise ship off Tuscany.

Tuscany’s regional president Enrico Rossi said that there were now six crew members and 11 passengers who haven’t been located out of the 4,200-plus people who were aboard the Costa Concordia when it struck a reef and capsized Friday night.

Three people have been confirmed killed and three people were rescued more than 24 hours after the disaster: a South Korean honeymooning couple and an Italian member of the ship’s crew, who was hoisted to safety Sunday afternoon by helicopter.

The Concordia’s commander has been detained on accusations of manslaughter and abandoning the ship. He has said the reef wasn’t marked.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s earlier story is below.

GIGLIO, Italy (AP) _ An Italian prosecutor has confirmed allegations from passengers and others that the captain of the cruise ship Costa Concordia abandoned the stricken liner before all the passengers had left.

Three people are confirmed dead after the huge cruise ship carrying more than 4,200 people ran aground on Friday night.

Asked Sunday by Sky Italia TV about allegations that the captain had left the ship before the last passenger had been rescued, Grosseto prosecutor Francesco Verusio replied, “Unfortunately I must confirm that circumstance.”

The captain, Francesco Schettino, was detained for questioning for suspected manslaughter, abandoning ship before all others and causing a shipwreck.

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Ratings agency Standard & Poor’s has downgraded the government debt of France, Austria, Italy and Spain by one notch, but maintained Germany’s at the coveted ‘AAA’ level.

The cuts, which eliminated France and Austria’s triple-A status, deal a heavy blow to the currency union’s ability to fight off a worsening debt crisis.

Italy was lowered to BBB+ from A. Spain slipped to A from AA-.

The downgrades come as crucial talks on cutting Greece’s massive debt pile appeared close to collapse Friday.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s earlier story is below.

PARIS (AP) _ Ratings agency Standard & Poor’s has downgraded the government debt of France, Austria, Italy and Spain by one notch, but maintained Germany’s at the coveted ‘AAA’ level.

The cuts, which eliminated France and Austria’s triple-A status, deal a heavy blow to the currency union’s ability to fight off a worsening debt crisis.

Italy was lowered to BBB+ from A. Spain slipped to A from AA-.

The downgrades come as crucial talks on cutting Greece’s massive debt pile appeared close to collapse Friday.

Source

Grocery operator Supervalu Inc. said Wednesday that its fiscal third-quarter net loss widened due to costs related to a turnaround plan, continued high food prices and a cautious consumer.

The company, which operates Kirkwood-based Shop ‘n Save, Earth City-based Save-A-Lot and others, trimmed its yearly sales guidance for the second quarter in a row.

Supervalu, like most grocers, is trying to raise prices to offset high food costs without alienating shoppers that have cut spending due to worry over the economy and high unemployment. Supervalu is also facing costs related to a restructuring plan, begun well over a year ago, which has involved closing stores, selling off some businesses, lowering debt and tailoring its stores to meet local needs payday loan lenders.

Still, the company lowered its yearly sales guidance to $36.1 billion from prior guidance of $36.5 billion. Analysts expect revenue of $36.44 billion, according to Fact Set. It reaffirmed adjusted profit guidance of $1.20 to $1.30 per share. Analysts expect $1.24 per share.

For the quarter, Eden Prairie, Minn.-based Supervalu lost $750 million, or $3.54 per share, compared with a loss of $202 million, or 95 cents, last year.

Revenue fell 4 percent to $8.33 billion.

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The Federal Reserve is making the most of its tools to boost the economy, and there is evidence they have worked, a top Fed official said on Tuesday.

Cleveland Federal Reserve President Sandra Pianalto, a voter this year on the central bank’s policy-setting committee, said she “will continue to weigh the costs and benefits of further policy actions.”

Pianalto, considered on the dovish wing of the Fed more concerned with bringing down high unemployment, said she expects the economy to grow around 2.5 percent this year, and about 3 percent in 2013, making for a “moderate” recovery.

Though in the past she forecast 2-percent inflation for the next two years, in her first speech of the year Pianalto said she expects inflation to dip below that level during the first half of 2012.

The Fed late in 2008 slashed interest rates to near zero and has since bought $2 payday loans guaranteed no fax.3 trillion in long-term securities to spur growth and keep the economy afloat, in response to a deep recession and financial crisis.

Recent data from employment to manufacturing to consumer credit suggest the world’s largest economy gained momentum going into 2012, though the high 8.5 percent unemployment rate, a slow housing market recovery and the European debt crisis still pose risks.

“I have supported our policy decisions, and there is evidence that they have been effective,” Pianalto said.

“While it is true that the federal funds rate has been near zero for some time, some economic policy models indicate that monetary policy should be even more accommodative than it is today,” she added.

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Federal Reserve Bank of St. Louis President James Bullard said the Fed probably won

Service industries in the U.K. grew at the fastest pace in five months in December and strengthened in the U.S., suggesting their economies are partly withstanding the euro-area debt crisis.

A gauge of U.K. services activity based on the survey of purchasing managers (PMITSUK) rose to 54 from 52.1 in November, Markit Economics and the Chartered Institute of Purchasing and Supply said today in London. A U.S. services index rose to 52.6 in December from 52 the previous month.

The data suggest the U.K. economy strengthened in December after surveys earlier this week showed construction and manufacturing improved. Still, the euro-area crisis is clouding the outlook for the global recovery. The Bank of England said today banks may toughen loan terms because of the debt turmoil, hampering growth, while some Federal Reserve officials have said prospective economic conditions may warrant

Companies added more workers than forecast in December, a sign that the U.S. labor market was gaining momentum heading into 2012, according to a private report based on payrolls.

The 325,000 increase was the highest in records going back to 2001 and exceeded the highest projection in a Bloomberg News survey after a revised 204,000 gain the prior month, the report from the Roseland, New Jersey-based ADP Employer Services showed today. The median estimate called for an advance of 178,000.

An acceleration in hiring may spur further gains in consumer spending, which accounts for about 70 percent of the world

The Philippines pledged to speed up a proposed offering of infrastructure projects to investors as President Benigno Aquino seeks investments to shield the economy from a global slowdown.

The government may offer eight to 16 of the so-called public-private partnership projects worth as much as 142 billion pesos ($3.2 billion) this year, Cosette Canilao, executive director of the program, said in an interview in her Manila office yesterday. One contract was awarded last year, against an earlier estimate of as many as 10. San Miguel Corp., Ayala Corp. (AC) and Metro Pacific Tollways Corp. are among companies that have expressed interest in some of the projects, she said.

Unionized workers at the Caterpillar Inc. manufacturing plant in London, Ont. have been locked out after negotiations failed between the company and the Canadian Auto Workers.

The CAW said Sunday it had not called a strike, despite earlier threatening one if Caterpillar’s Electro-Motive Canada unit implemented the terms of its latest offer, which included unilaterally implementing lower wage and benefit terms for about 450 workers. The hourly wage, $35, would be cut in half.

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