United States


  • Gulf of Mexico output to rise 43 pct by 2019-WoodMac Wednesday, 3 Oct 2012 | 1:20 PM ET

    HOUSTON, Oct 3- An exploration and production resurgence in the Gulf of Mexico two years after a six-month drilling shutdown because of the BP Plc oil spill is expected to increase output nearly 43 percent by 2019, energy consultancy Wood Mackenzie said on Wednesday.

  • UPDATE 8-Oil falls as economic data dims demand outlook Wednesday, 3 Oct 2012 | 1:19 PM ET

    *China, Europe services PMI disappoint. NEW YORK, Oct 3- Oil prices fell sharply on Wednesday as disappointing economic data from China and Europe reinforced concerns about slowing growth and weak petroleum demand, even as supportive U.S. data strengthened the dollar.

  • U.S. stocks rose on Wednesday after stronger-than-expected employment and service-sector data in the United States, but a gloomier outlook in China and Europe weighed on commodity prices and hit energy and materials shares. **SAREPTA THERAPEUTICS INC, $40.65, up 171 pct. **HEWLETT-PACKARD CO, $15.67, down 8.4 pct.

  • Dollar strengthens on positive US economic data Wednesday, 3 Oct 2012 | 1:08 PM ET

    The Institute for Supply Management said its index of service companies rose to 55.1 in September, the highest level since March. The euro fell to $1.2899 in late trading Wednesday from $1.2917 late Tuesday. The dollar rose to 78.52 Japanese yen from 78.13 yen, to 0.9390 Swiss franc from 0.9364 Swiss franc and to 98.82 Canadian cents from 98.42 Canadian cents.

  • UPDATE 1-3M follows other big companies - reorganizes Wednesday, 3 Oct 2012 | 1:08 PM ET

    Oct 3- 3 M Co said Wednesday it had restructured into five major business groups, down from six, and set up new roles for some of its senior executives.

  • Boeing, GE cement order for 85 737s worth $6B Wednesday, 3 Oct 2012 | 1:05 PM ET

    NEW YORK-- Boeing Co. and the commercial aircraft leasing and financing arm of General Electric Co. have agreed on a firm order for 85 737 s. With this order, GE Capital Aviation Services has ordered 580 airplanes directly from Boeing since 1995..

  • SAN FRANCISCO, Oct 3- Hewlett-Packard offered a 2013 earnings outlook on Wednesday that underscored slow progress on CEO Meg Whitman's turnaround plan and decelerating technology spending worldwide, sending its shares to a nine-year low.

  • Mideast crude tanker rates hit by weak cargo trade Wednesday, 3 Oct 2012 | 1:04 PM ET

    LONDON, Oct 3- Crude oil tanker earnings on the major Middle East route were weaker on Wednesday as slow business and a surplus of vessel availability took their toll on rate sentiment.

  • Analysis: Summer heat raised ComEd bills by $64M Wednesday, 3 Oct 2012 | 11:59 AM ET

    CHICAGO-- A consumer watchdog group says this summer's extreme heat boosted the bills of Commonwealth Edison customers by about $64 million. But the Citizens Utility Board also said Tuesday that customers could've reduced most of that increase by changing their habits.

  • Oil drops 3 pct on signs of slower growth in China Wednesday, 3 Oct 2012 | 11:59 AM ET

    The price of oil plunged Wednesday on more evidence of slower growth in China. Benchmark oil fell $2.93, or 3.2 percent, Wednesday to $88.96 per barrel in afternoon trading in New York. China is the world's second largest economy and a huge importer of commodities like oil.

  • Ratings agency says Bank of ND remains strong Wednesday, 3 Oct 2012 | 11:57 AM ET

    BISMARCK, N.D.-- A national ratings agency says the state-owned Bank of North Dakota is in great shape. Standard& Poor's says the ratings could decline if the state's economy weakens, but it says North Dakota's economic prospects are good right now. Jack Dalrymple is chairman of the North Dakota Industrial Commission.

  • Grants may help Nebraska farmers deal with drought Wednesday, 3 Oct 2012 | 11:56 AM ET

    LINCOLN, Neb.-- Nebraska farmers and ranchers are being encouraged to apply for grants that will help them test out practices to deal with drought. The U.S. Department of Agriculture's Natural Resources Conservation Service has up to $5 million available for the grants.

  • Chorus Aviation stock drops on cost mark-up decision Wednesday, 3 Oct 2012 | 11:48 AM ET

    TORONTO, Oct 3- Shares of Air Canada contract carrier Chorus Aviation Inc fell nearly 10 percent on Wednesday, and an analyst warned it might have to cut its dividend, after an arbitration panel ruled in favor of Air Canada in a cost dispute.

  • Chick-fil-A chief: 'We support Biblical families' Wednesday, 3 Oct 2012 | 11:46 AM ET

    THOMASTON, Ga.-- Chick-fil-A President Dan Cathy voiced his support for "Biblical families" in one of his first interviews since his earlier comments caused controversy regarding gay marriage. Cathy made the comments over the weekend at an event at his family's Georgia ranch.

  • Bristol-Myers, Sanofi revamp Plavix sales alliance Wednesday, 3 Oct 2012 | 11:41 AM ET

    TRENTON, N.J.-- Bristol-Myers Squibb Co. and Sanofi SA said Wednesday that they are restructuring their longtime partnership selling popular heart medications, now that their sales are plunging due to recent, widespread competition from generic versions.

  • IFR-Preview-major US economic data for Oct 4 Wednesday, 3 Oct 2012 | 11:41 AM ET

    WHAT: Labor Department Initial Jobless Claims, weekly. IFR COMMENTARY: "Initial unemployment insurance claims were volatile around and after the Labor Day holiday, but we look for them to settle in now at around 365 k. We look for continuing claims for the week ended Sept. 22 to move up a bit from 3.271 mln to 3.280 mln.

  • TEXT-S&P ratess Roofing Supply Group proposed loan Wednesday, 3 Oct 2012 | 11:38 AM ET

    --Dallas- based Roofing Supply Group LLC plans to increase its seven-year bank term loan B by $25 million to $315 million and will utilize proceeds to repay revolving credit borrowings.

  • *SEC says eBX gave outside firm customer order data. *eBX to pay $800,000 to settle SEC charges. The SEC alleged that eBX erroneously told its users that their buy and sell orders would not be shared outside the company, but an outside technology firm was allowed to use the data for its own business interests.

  • The boards of both companies voted on Wednesday to approve the deal, which will see Deutsche Telekom hold 74 percent and MetroPCS 26 percent in the combined entity.

  • *Gasoline inventories rise slightly in week to Sept. 28. NEW YORK, Oct 3- U.S. crude oil stocks declined unexpectedly last week and distillate inventories fell more steeply than forecast, government data showed on Wednesday.