Business News


  • NEW YORK, Oct 5- A surprisingly sharp drop in U.S. unemployment helped President Barack Obama's odds of re-election regain half the ground lost in his debate with challenger Mitt Romney on Wednesday.

  • Fatal parasail accidents renew calls for rules Friday, 5 Oct 2012 | 10:54 AM ET

    The Parasail Safety Council, which tracks injuries and deaths nationwide, reports more than 70 people have been killed and at least 1,600 injured between 1982 and 2012, out of an estimated 150 million parasail rides during those 30 years.

  • Canadian economy adds 52,100 jobs in September Friday, 5 Oct 2012 | 10:50 AM ET

    TORONTO-- Canada's economy turned in one of the strongest job creation months of the year in September, adding an eye-popping 52,100 new jobs, Statistics Canada said Friday.

  • Platinum producer fires striking SAfrican miners Friday, 5 Oct 2012 | 10:50 AM ET

    JOHANNESBURG-- Anglo American Platinum fired 12,000 striking miners Friday for staging an unlawful strike that is one of several that are slowly paralyzing South Africa's crucial mining sector.

  • OTTAWA, Oct 5- Final figures show that Canada's budget deficit for the 2011-12 fiscal year was C $26.2 billion, down from C $33.4 billion the previous year, Finance Minister Jim Flaherty said on Friday. Canada's deficit-to-GDP ratio is one of the lowest among major Western economies.

  • TEXT-Fitch affirms Phoenix Pharmahandel at 'BB' Friday, 5 Oct 2012 | 10:47 AM ET

    Oct 5- Fitch Ratings has affirmed Germany- based pharmaceuticals wholesaler Phoenix Pharmahandel GmbH& Co. KG's Long-term Issuer Default Rating and senior unsecured rating at' BB'.

  • Joplin business gets $351,000 low-interest loan Friday, 5 Oct 2012 | 10:44 AM ET

    JOPLIN, Mo.-- A southwestern Missouri architectural firm has received a $351,000 low-interest loan to help with an expansion. The Joplin firm expects to save about $26,000 over five years. The Missouri treasurer's office says the loan comes through the state's linked deposit program.

  • *Telefonica raises 1.2 bln euros with 7- yr bond. *Telefonica faces 57 bln euro debt pile. MADRID, Oct 5- Debt-laden Spanish telecoms group Telefonica issued seven-year debt in its second cash call in a month on Friday, taking advantage of ECB-backed credit improvements in struggling euro zone countries.

  • LONDON, Oct 5- Private equity firms EQT and GIC Special Investments of Singapore are considering options to either sell or refinance the debt of their German academic book publisher Springer Science& Business Media, banking sources said on Thursday.

  • Energy Transfer Partners closes deal for Sunoco Friday, 5 Oct 2012 | 10:43 AM ET

    DALLAS-- Energy Transfer Partners LP said Friday that it completed its acquisition of Sunoco Inc. for about $5.5 billion, creating one of the more diverse pipeline companies in the country.

  • UPDATE 4-Trading errors rattle Indian stock market Friday, 5 Oct 2012 | 10:42 AM ET

    MUMBAI, Oct 5- A flurry of erroneous orders placed by an Indian broker sent the country's top stock market tumbling briefly on Friday, raising renewed concerns about the stability of trading systems after a series of global market glitches.

  • Travel Picks: Top 10 U.S. destinations in October Friday, 5 Oct 2012 | 10:41 AM ET

    NEW YORK, Oct 5- As the calendar page flips to October, we are fully and unquestionably into autumn.

  • Conn. governor to unveil his new energy policy Friday, 5 Oct 2012 | 10:41 AM ET

    Dannel P. Malloy is unveiling his new energy strategy for Connecticut. Malloy is scheduled to be the keynote speaker at the Connecticut Business and Industry Association's 2012 Business Energy Conference on Friday.

  • W.Va. lecture focuses on nation's future farms Friday, 5 Oct 2012 | 10:40 AM ET

    MORGANTOWN, W.Va.-- If American agriculture is going to meet the challenges of the next 40 years, it's going to need more schools like West Virginia University producing people who see careers in the field and have a passion for science. Rexroad is an associate administrator of the Agricultural Research Service at the U.S. Department of Agriculture.

  • *Staff in Mumbai, Delhi hold protest marches over unpaid salaries. MUMBAI/ NEW DELHI, Oct 5- Debt-strapped Kingfisher Airlines, devoid of a turnaround plan to get back into the air, faced a possible shutdown by the government after extending the grounding of its fleet for another week.

  • GM to move fuel cell research from NY to Michigan Friday, 5 Oct 2012 | 10:39 AM ET

    DETROIT-- General Motors Co. said Friday that it plans to close its hydrogen fuel-cell research operation near Rochester, N.Y., and move about 220 jobs to Michigan. The Detroit- based automaker said the move will bring together experts on engine and transmission technology.

  • *Chairman Harold Kahn among those who resigned. Oct 5- Wet Seal Inc replaced four board members with Clinton Group nominees, putting the activist investor in a stronger position to push for a sale of the struggling clothing retailer.

  • *Britain is due to hold election in 2015. LONDON, Oct 5- Presiding over a fractious coalition amid a recession and derided by critics as an "out of touch" snob, British Prime Minister David Cameron is under pressure to take on a resurgent opposition at his party's annual conference next week. We know we have got to turn it around, "one Conservative Party official said."

  • New Issue - Manitowoc sells $300 mln in notes Friday, 5 Oct 2012 | 10:37 AM ET

    Oct 5- Manitowoc Co Inc. on Thursday sold $300 million of senior notes, said IFR, a Thomson Reuters service. J.P. Morgan, Deutsche Bank and Wells Fargo were the joint bookrunning managers for the sale.

  • MegaFon moves closer to London IPO-sources Friday, 5 Oct 2012 | 10:37 AM ET

    MOSCOW, Oct 5- Russia's second-largest mobile phone operator MegaFon may start pre-marketing for its London IPO next week, but is yet to make a final decision regarding timing, three sources familiar with the situation said.