Business News


  • China auto sales fall as Japanese brands shunned Wednesday, 10 Oct 2012 | 7:16 AM ET

    BEIJING-- China's auto sales shrank in September as a territorial dispute with Tokyo prompted buyers to avoid Japanese brands, hurting already weakening demand. In September, sales of Japanese vehicles plunged as the dispute between Beijing and Tokyo over a group of uninhabited islands in the East China Sea prompted buyers to avoid Japanese showrooms.

  • LONDON, Oct 10- Raiffeisen Bank International announced plans to optimise its capital structure on Wednesday by asking investors to exchange an Upper Tier 2 note callable later this month into a new longer dated Tier 2 security.

  • *Paradigm cuts Thompson Creek Metals Company to hold from buy. Reuters Station users, click. 1568. Reuters Station users, click. 4899.

  • BRIEF-NovaCopper Q3 results Wednesday, 10 Oct 2012 | 7:15 AM ET

    *Q3 loss per share $0.27* Source text* Further company coverage.

  • Sri Lanka stocks near 1-month low; rupee weaker Wednesday, 10 Oct 2012 | 7:15 AM ET

    COLOMBO, Oct 10- Sri Lankan stocks fell for the third straight session on Wednesday to hit a near one-month low in low trade, dealers said, while the rupee ended weaker on importer dollar demand. The Colombo Stock Exchange's main index ended 1.04 percent, or 60.80 points, weaker at 5,772.52, its lowest level since Sept. 13.

  • Canada's Jean Coutu profit down, but revenue rises Wednesday, 10 Oct 2012 | 7:15 AM ET

    Oct 10- Canadian pharmacy chain Jean Coutu Group Inc reported a lower quarterly profit on Wednesday despite higher revenue, because the sale of an investment had boosted earnings in the year-earlier quarter.

  • Groupon eyes restaurants with nationwide POS offering Wednesday, 10 Oct 2012 | 7:15 AM ET

    SAN FRANCISCO, Oct 10- Groupon Inc launched a point-of-sale service called Breadcrumb across the United States on Wednesday as the world's largest daily deal company tries to win more restaurants as clients. Groupon acquired the business in May. Groupon is a pioneer in daily deals, which are heavily discounted online offers for local services.

  • Oct 10- AuRico Gold Inc:. *National Bank Financial cuts AuRico Gold Inc price target to C $7.50. Reuters Station users, click. 1568.

  • Oct 10- Brigus Gold Corp:. *Says secured $30 million in debt financing. *Says $26.4 million of debt proceeds to be used to repurchase 4% of existing 12% goldstream with Sandstorm Gold Ltd.

  • BRIEF-Genesis Energy raises quarterly distribution Wednesday, 10 Oct 2012 | 7:14 AM ET

    Oct 10- Genesis Energy LP:. *Will pay quarterly distribution of $0.4725 per common unit, 2.7% increase. Genesis Energy, L.P. announced today that it will pay a regular quarterly distribution of $0.4725 per Common Unit for the quarter ended September 30, 2012.

  • Gov't warns motorists about counterfeit air bags Wednesday, 10 Oct 2012 | 7:13 AM ET

    WASHINGTON-- Car owners whose air bags have been replaced in the past three years may have had dangerous counterfeit bags installed, the Obama administration warned Wednesday.

  • UK told electricity reforms must include storage Wednesday, 10 Oct 2012 | 7:13 AM ET

    LONDON, Oct 10- Britain needs to create a market in which electricity storage can make money rather than adding costs to consumers if it is to successfully integrate renewables into the power grid, S&C Electric said on Wednesday.

  • *Moody's assigns definitive Aaa rating to Stadshypotek's Australian dollar-denominated covered bonds.

  • Oct 10- Lumina Copper Corp:. *Mackie Research cuts Lumina Copper price target to C $14 from C $20;. Reuters Station users, click. 1568.

  • *Palladium suffers as China monthly auto sales weaken By Clare Hutchison. The International Monetary Fund's financial counsellor said on Wednesday that the fund was encouraged by Spain's attempts to reduce its budget deficit, dashing hopes that Madrid would soon apply for aid.

  • Private equity steps into European bank lending gap Wednesday, 10 Oct 2012 | 7:12 AM ET

    *CVC, Partners Group, H.I.G. Capital invest more in debt. When Swedish buyout firm EQT bought BSN Medical earlier this year, another private equity house, Switzerland's Partners Group, lent the bandage-making business it had previously co-owned a chunk of the 1.8 billion euros needed to finance the deal.

  • Oct 10- Matador Resources Co:. *The borrowing base was increased to $200 million, up from the previous borrowing base of $125 million. *Plans to use increased borrowing capacity to continue to execute Eagle Ford drilling program in south Texas.

  • BRIEF-Wet Seal Inc appoints new board members Wednesday, 10 Oct 2012 | 7:10 AM ET

    Oct 10- Wet Seal Inc:. *The Wet Seal Inc announces appointment of new board members. *Appoints Lynda J. Davey as chairman of the board.

  • *Canaccord Genuity raises Barrick Gold target price to $47.50 from. Reuters Station users, click. 1568. Reuters Station users, click. 4899.

  • EADS-BAE talks ongoing, decision later-French govt Wednesday, 10 Oct 2012 | 7:08 AM ET

    PARIS, Oct 10- Talks are still ongoing between Germany, France and the UK regarding a proposal to merge European aerospace and defence group EADS with Britain's BAE Systems, France's government spokeswoman said on Wednesday. A decision is to be announced later today, "Najat Vallaud-Belkacem told a weekly media briefing.