Business News


  • UPDATE 3-Aon to target small acquisitions next year Friday, 26 Oct 2012 | 4:11 PM ET

    *Adjusted EPS $0.95 vs est $0.89. *To target $300- $400 mln annually on acquisitions. Oct 26- Aon Plc's quarterly profit beat analysts' estimates as investments aimed at increasing margins at its human resources services unit helped boost profit, and the company said it planned a series of small acquisitions.

  • Constant Contact shares tumble to 4-year low Friday, 26 Oct 2012 | 4:11 PM ET

    NEW YORK-- Shares of Constant Contact Inc. plunged to their lowest price in four years Friday after the online marketing company struggled to convert trial users into customers in the third quarter. THE SPARK: Constant Contact reported its quarterly results Thursday.

  • Although data showed a pick-up in U.S. economic growth in the third quarter, gloomy earnings and outlook statements from major global companies such as Apple and Amazon, South Korea's Samsung and Renault and Ericsson in Europe corroded hopes of a recovery in the global economy.

  • News Summary: US economic growth remains tepid Friday, 26 Oct 2012 | 4:10 PM ET

    GROWTH INCREASES: The U.S. economy grew at a 2 percent annual rate from July through September, buoyed by higher consumer and government spending. That was better than the April-June rate of 1.3 percent, but not fast enough to rapidly boost job creation.

  • S&P downgrades Abbott Labs credit rating Friday, 26 Oct 2012 | 4:10 PM ET

    NEW YORK-- Standard& Poor's Ratings Services lowered Abbott Laboratories Inc.' s credit rating Friday as the company prepares to split in two. Standard& Poor's lowered its rating to `A+' from `AA' because Abbott Laboratories will have smaller cash flows and less business diversity after separating the pharmaceutical business into a separate company.

  • A weak finish for stocks as earnings news weighs Friday, 26 Oct 2012 | 4:09 PM ET

    Stocks are closing mostly lower after another batch of weak earnings reports weighs on the market. Poor earnings from Goodyear, Verisign, Interpublic and other companies disappointed investors. Three stocks fell for every two that rose on the New York Stock Exchange.

  • *Man who claimed Facebook stake arrested at NY home. Oct 26- A New York man was arrested on Friday on charges he forged documents in a multibillion-dollar scheme to defraud Facebook Inc and its chief executive, Mark Zuckerberg.

  • BOSTON, Oct 26- Massachusetts fined Citigroup $2 million to settle charges that two bank analysts improperly released confidential information about Facebook's financials before the technology company went public. Citi said its top Internet analyst, Mark Mahaney, who was involved in the Facebook matter, is no longer at the company.

  • NASSAU, Oct 26- Slow-moving Hurricane Sandy, a late season Atlantic storm unlike anything seen in more than two decades, slogged toward the U.S. East Coast on Friday after killing at least 31 people on a trail of destruction across the Caribbean.

  • Pa. utility agency slapped by judge, admits error Friday, 26 Oct 2012 | 4:03 PM ET

    HARRISBURG, Pa.-- The Pennsylvania Public Utility Commission was ordered Friday by a state judge to stop reviewing or challenging municipal ordinances that affect natural gas drilling, the same day the agency admitted to miscalculating how much money some municipalities will receive from the booming drilling industry.

  • Ingram Micro 3Q net income more than doubles Friday, 26 Oct 2012 | 4:00 PM ET

    SANTA ANA, Calif.-- A Stern Agee analyst reaffirmed his "Buy" rating on Ingram Micro on Friday, a day after the technology products company reported that its net income more than doubled in the third quarter as sales increased in North America, Latin America and the Asia Pacific region.

  • Oct 25- Verisign Inc's third-quarter results modestly beat estimates, but the company that assigns Internet protocol addresses said the Commerce Department may not complete its contract review before it expires on Nov. 30, sending its shares down 15 percent after market.

  • LONDON, Oct 26- Oil major Royal Dutch/Shell is seeking to work around international sanctions by repaying a $1.4 billion oil debt to Iran with a grain barter deal via U.S. agribusiness giant Cargill, industry sources said.

  • Oct 26- Interpublic Group of Cos, home to advertising agencies McCann Erickson and Draftfcb, missed revenue estimates for the second quarter in a row, with the company warning that growth will slow further this year as clients hold back on spending. Interpublic shares fell 5 percent in late morning trade to $10.04 on the New York Stock Exchange.

  • At a Glance: Oil rises, stays above $86 per barrel Friday, 26 Oct 2012 | 3:55 PM ET

    NEW YORK-- The price of oil rose slightly Friday as data showed the U.S. economy is muddling along while the East Coast prepares for a potentially damaging storm. On the New York Mercantile Exchange:. Benchmark crude rose 23 cents to finish at $86.28 per barrel.

  • Recalls this week: bassinets, booster seats Friday, 26 Oct 2012 | 3:54 PM ET

    Bassinets that pose a suffocation hazard to infants because of a faulty locking mechanism and booster seats that can fail to lock are among the consumer products recalled this week. DETAILS: Eddie Bauer Rocking Wood Bassinets made by Dorel Juvenile Group. " They were sold from December 2007 through January 2011.

  • Interpublic 3Q results miss expectations Friday, 26 Oct 2012 | 3:51 PM ET

    NEW YORK-- Interpublic Group of Cos., which owns advertising and marketing agencies, said Friday that its third-quarter net income fell 67 percent, hurt by the stronger dollar and lower spending by clients. The weak economy in Europe and slowdown in China have led a wide array of companies to cut spending on services such as marketing and advertising.

  • Sandy pounds Bahamas after killing 40 in Caribbean Friday, 26 Oct 2012 | 3:50 PM ET

    NASSAU, Bahamas-- Hurricane Sandy rolled out of the Bahamas on Friday after causing 40 deaths across the Caribbean, churning toward the U.S. East Coast, where it threatens to join forces with winter weather fronts to create a devastating super storm.

  • Conn. utilities seek extra workers ahead of storm Friday, 26 Oct 2012 | 3:50 PM ET

    HARTFORD, Conn.-- With forecasts of a powerful storm ahead, Connecticut's governor urged people to stock up on food and water, electric utilities requested thousands of extra workers and the Navy base in Groton prepared Friday in case it has to send submarines out into the ocean.

  • Grains futures mostly fall, livestock prices mixed Friday, 26 Oct 2012 | 3:50 PM ET