Business News


  • TEXT-S&P affirms Dave & Buster's Inc Wednesday, 10 Oct 2012 | 3:28 PM ET

    ,parent of Dave& Buster's Inc., announced that it is suspending its IPO. Rating Action On Oct. 10, 2012, Standard& Poor's Ratings Services affirmed its ratings on Dallas- based restaurant and out-of-home entertainment company Dave& Buster's Inc., including the' B-' corporate credit rating.

  • Oct 10- Fairfax Financial Holdings Ltd on Wednesday sold C $200 million of 10- year debt, according to a term sheet seen by Reuters. The 5.84 percent notes, due Oct. 14, 2022, were priced at 99.963 to yield 5.845 percent, or 403.9 basis points over the Canadian government benchmark. The investment dealer arm of Bank of Montreal was the bookrunning manager for the sale.

  • Captain of capsized cruise ship says sacking unfair Wednesday, 10 Oct 2012 | 3:24 PM ET

    Italian Francesco Schettino was not only fired by Costa Cruises but is accused by prosecutors of causing the accident by sailing the luxury cruiser liner too close to shore. "There is nothing to contest or be amazed about, unless we want to say that what the law allows for all citizens doesn't apply for Francesco Schettino."

  • IRS commissioner Shulman to step down Wednesday, 10 Oct 2012 | 3:23 PM ET

    Shulman, who was appointed IRS commissioner by President George W. Bush and confirmed by the Senate in March, 2008, will leave the post on Nov. 9. The IRS, in its biography of Shulman, noted that under his tenure the agency has gone from eighth to third out of the 14 largest federal agencies in a rating of the best places to work.

  • NEW YORK, Oct 10- McGraw-Hill Companies Inc's. McGraw-Hill, which is running the auction as an alternative to its planned spin-off of the business, wants to get more than $3 billion and could still decide against a sale if the bids fail to meet its price expectations, the people said. McGraw-Hill, Cengage, Apollo, THL and Providence declined to comment.

  • WASHINGTON, Oct 10- At least 130 projects that capture and store carbon emissions at coal power and industrial plants must come online by 2020 if the world is to stay on course to keeping the rise in global temperatures below a threshold deemed dangerous by scientists, a new report released Wednesday said.

  • Revel reveals revenue reversal in September Wednesday, 10 Oct 2012 | 3:19 PM ET

    Atlantic City's newest casino took less money from gamblers in September than it did in August. Atlantic City's 12 casinos collectively saw their September revenue fall by 6.3 percent to $276 million compared with September 2011. So far, Revel has not been the catalyst that many in Atlantic City had hoped it would be.

  • Brent settles slightly lower after volatile session Wednesday, 10 Oct 2012 | 3:18 PM ET

    NEW YORK, Oct 10- Brent crude futures eased on Wednesday in choppy trading as concerns about slowing economic growth hit Wall Street equities and pulled oil lower, after prices had received an early lift from tension in the Middle East.

  • *Steven Miller, an IRS veteran, to be acting chief. Miller, IRS deputy commissioner for services and enforcement since September 2009, is a 25- year veteran of the agency. Before Shulman was confirmed by the Senate at the start of his term, the IRS was led by two acting commissioners over a transition period of more than nine months.

  • How the Fed compiles the Beige Book, at a glance Wednesday, 10 Oct 2012 | 3:14 PM ET

    Eight times a year, the Federal Reserve issues the Beige Book, a snapshot of business conditions in each of the Fed's 12 regional bank districts. The Beige Book is updated two weeks before each meeting of the Fed's policymaking meeting in Washington. GDP is the value of all goods and services produced in the United States.

  • UPDATE 2-SiriusXM raises full-year subscriber forecast Wednesday, 10 Oct 2012 | 3:13 PM ET

    By Jennifer Saba and Peter Lauria. Oct 10- Sirius XM Radio Inc CEO Mel Karmazin said the company will add 446,000 new subscribers for the third quarter and raised its full-year forecast to 1.8 million net additions. Karmazin gave the updated business outlook for the satellite radio broadcaster while speaking at Liberty Media Corp's.

  • PARIS, Oct 10- EADS Chief Executive Tom Enders said in a letter to employees that the aerospace group wished to review its strategy and defence activities in particular after the end of its merger talks with BAE Systems. "We will now take the time to clearly draw a number of lessons from this experience.

  • Final run for 6.5-ounce returnable Coke bottle Wednesday, 10 Oct 2012 | 3:12 PM ET

    A small Coke bottler in Minnesota says it's stopping production of the bottles, which customers could return to get back a 20- cent deposit. The company in Winona, Minn., had been refilling the returnable bottles since 1932 but said it no longer makes business sense to continue doing so.

  • Shares of refiners fall on Chevron's 3Q outlook Wednesday, 10 Oct 2012 | 3:10 PM ET

    NEW YORK-- Shares of several oil refining companies fell Wednesday after Chevron Corp. said its third-quarter results will be substantially lower than its second-quarter earnings.

  • NEW YORK, Oct 10- Wal-Mart Stores Inc:. *Shares were up 1.9 percent, easing from earlier in the day, even as its CFO made upbeat comments on the company, including that it is as financially strong as it has ever been. The stock hit a high of $76.81 earlier in the day.

  • Oct 10- Arthur J. Gallagher& Co:. Arthur J. Gallagher& Co. today announced the acquisition of Coyle Insurance Agency, Inc., in Peoria, Illinois.

  • TEXT-Fitch rates Ares Capital Corp notes 'BBB' Wednesday, 10 Oct 2012 | 3:04 PM ET

    Oct 10- Fitch Ratings has assigned a rating of' BBB' to Ares Capital Corporation's. $230 million issuance of 4.75% unsecured convertible notes. Headquartered in New York, NY, Ares is an externally managed business development company, organized on April 16, 2004.

  • Oct 10- Royce Fund Services:. *Says Royce Mid Cap Fund to liquidate as it didn't attract, maintain assets at sufficient level to be viable. *Source text* Further company coverage ().

  • Oct 10- A U.S. state court has ordered JPMorgan Chase& Co to pay more than $18 million to a trust in a suit stemming from the bank's recommendation of a type of complex security that was unsuitable for the trust and benefited the bank.

  • SAN FRANCISCO, Oct 10- Record-high retail prices for gasoline in California began to ease on Wednesday, receding from an unprecedented jump to $5 a gallon in some areas, even as further refinery disruptions threatened to slow the decline.