Business News


  • FDA: Mold, bacteria at pharmacy tied to outbreak Friday, 26 Oct 2012 | 2:04 PM ET

    WASHINGTON-- Federal health inspectors say they found bacteria and mold growing in rooms that were supposed to be kept sterile at the pharmacy linked to a deadly outbreak of meningitis. The Food and Drug Administration has released its initial report after investigating the New England Compounding Center in Framingham, Mass., earlier this month.

  • Md. suspends enforcement of blue crab harvest time Friday, 26 Oct 2012 | 2:03 PM ET

    ANNAPOLIS, Md.-- The Maryland Department of Natural Resources says it will not enforce times for removing crabs from commercial pots so fishermen can prepare for Hurricane Sandy. The DNR says from Friday through Monday, fishermen may keep crabs removed from crab pots during this period, as well as the mandatory days off Sunday and Monday.

  • Wealthy siblings become forces in Calif. politics Friday, 26 Oct 2012 | 2:02 PM ET

    SACRAMENTO, Calif.-- Charles Munger Sr. is best known as Warren Buffett's right-hand man, an investor who has turned his skill at picking winning companies into a billion-dollar fortune. He has passed some of his passion on to his children, two of whom are using their considerable fortune to transform California's political landscape this year.

  • Oct 26- Consumer products maker Newell Rubbermaid Inc said it will cut about 2,000 jobs, or slightly more than 10 percent of its staff, over the next 2-1/ 2 years, joining a slew of U.S. companies trying to counter slowing sales by reducing costs.

  • NEW YORK, Oct 26- U.S. consumer sentiment rose to its highest level in five years in October as Americans were more upbeat about prospects for the economy and their own finances, a survey released on Friday showed. The Thomson Reuters/ University of Michigan's final reading on the overall index on consumer sentiment rose to 82.6 from 78.3 in September.

  • Comcast CEO expresses condolences to Krim family Friday, 26 Oct 2012 | 1:59 PM ET

    NEW YORK-- The CEO of Comcast, the country's largest cable company, has expressed his condolences to the family of employee Kevin Krim, after two of his children were stabbed to death Thursday. On a Friday conference call about Comcast's quarterly finances, CEO Brian Roberts said the company "will do everything we can to support the family in their awful time."

  • Dollar rises on report of pickup in US growth Friday, 26 Oct 2012 | 1:58 PM ET

    The Commerce Department said the economy grew at a 2 percent annual rate from July through September, thanks to higher spending by consumers and the federal government. The euro fell to $1.2932 in late trading Friday from $1.2949 late Thursday. The dollar rose to 0.9352 Swiss franc from 0.9343 Swiss franc and to 99.88 Canadian cents from 99.40 Canadian cents.

  • Oil flat as massive storm aims for East Coast Friday, 26 Oct 2012 | 1:57 PM ET

    The price of oil is little changed as data show the U.S. economy is muddling along and a big storm threatens the East Coast. Forecasters expect a so-called "Frankenstorm" to hit the East Coast beginning early Sunday with heavy rain, winds and perhaps snow lingering into Halloween.

  • LONDON, Oct 26- Following are five big themes likely to dominate the thinking of investors and traders in the coming week and the Reuters stories related to them. Spain's bailout intentions therefore still have plenty of scope to trigger moves across financial assets. >Santander urges Spain to seek bailout.

  • 6 European countries pull Novartis flu vaccines Friday, 26 Oct 2012 | 1:56 PM ET

    BERLIN-- Six European countries have ordered a temporary ban on the import or use of some Novartis flu vaccines. Austria, France, Germany, Italy, Spain and Switzerland have limited the use of Fluad or Aggripal, or both, after the company reported the appearance of small particles in the vaccine to Italian authorities.

  • Anglo's outgoing CEO warns against "token women" Friday, 26 Oct 2012 | 1:56 PM ET

    *Carroll exit leaves two female CEOs in FTSE 100. LONDON, Oct 26- Mining giant Anglo American's outgoing chief executive Cynthia Carroll, only the third woman to take the helm of a FTSE 100 company, warned on Friday that calls for quotas to diversify Europe's boardrooms could reduce women to a token presence.

  • Shares of WhiteWave open at $19 Friday, 26 Oct 2012 | 1:56 PM ET

    Oct 26- WhiteWave Foods Co shares rose almost 12 percent in their New York Stock Exchange debut on Friday, as investors bet on the growth of the organic foods sector. Shares of the Dallas, Texas- based Dean Foods Co spinoff opened at $19, up 11.8 percent, after pricing at $17, above the expected range.

  • *Copper arb window opened but China demand slow- traders.

  • Report: Mass. economy grows slower than US in 3Q Friday, 26 Oct 2012 | 1:50 PM ET

    BOSTON-- A new report finds the Massachusetts economy slowed sharply in the third quarter. According to the economic journal MassBenchmarks, the state's real gross domestic product grew by 1.9 percent from July-September, placing it slightly below the nation's growth rate of 2 percent as reported by the U.S. Commerce Department.

  • Appeals court overturns $3 million fraud award Friday, 26 Oct 2012 | 1:49 PM ET

    The U.S. 6th Circuit Court of Appeals upheld a decision that businessman Ronald Stone no longer owed money to Randall Scott Waldman and attorney Bruce Atherton of Louisville. Stone's company owed Fifth Third Bank more than $1 million in 2003, a debt secured by mortgages and liens on the business and Stone's home.

  • Honeywell boosts annual dividend by 15 cents Friday, 26 Oct 2012 | 1:47 PM ET

    MORRIS TOWNSHIP, N.J.-- Honeywell International Inc. said Friday that its board approved a 10 percent increase to the company's annual dividend. The boost raised the annual payout by 15 cents to $1.64. Honeywell shares rose 28 cents to $61.71 in afternoon trading.

  • Fired bank worker declines offer to return to work Friday, 26 Oct 2012 | 1:46 PM ET

    Wells Fargo& Co. spokeswoman Vickee Adams said this week that once the company learned Eggers had received a waiver, it offered on Oct. 12 to rehire him in his old job at the same salary. But Eggers said that he won't accept the bank's offer to return to work unless Wells Fargo changes its background check policy.

  • *Weeping, Kweku Adoboli tells court was all for bank's benefit. LONDON, Oct 26- Former UBS trader Kweku Adoboli wept on Friday as he told a jury that his ``off-book trades'' were done for the benefit of a bank that meant everything to him. The 32- year-old British-educated Ghanaian was arrested on Sept. 15, 2011, and blamed for losses of $2.3 billion.

  • Taser shares hit two-year high on strong earnings Friday, 26 Oct 2012 | 1:45 PM ET

    It reported a net income of $3.7 million, or 7 cents per share, for the quarter that ended Sept. 30. That's compared with $1.1 million, or 2 cents per share, earned in the same quarter last year. Shares of Taser International Inc. jumped 21 percent, or $1.37, to $7.76 in afternoon trading.

  • Colleges offer veterans classes to ease transition Friday, 26 Oct 2012 | 1:44 PM ET

    WASHINGTON-- The students in the Saturday morning class trickle in and, as they introduce themselves around a table, reveal far more intimate biographies than just name and hometown. Forgive me, "an Iraq war veteran begins haltingly."