Business News


  • News Summary: Stocks rise after jobs report Thursday, 4 Oct 2012 | 4:33 PM ET

    BETTER, BUT: The stock market got a lift from the government's report that 367,000 Americans sought unemployment benefits for the first time last week. RETAIL SALES: Costco and other retail chains reported September sales that came in ahead of Wall Street's estimates. Costco, Dollar General and other retail stocks gained.

  • Companies see Alaska LNG project cost at up to $65 bln Thursday, 4 Oct 2012 | 4:32 PM ET

    Oct 4- Oil companies putting together plans for a new "megaproject" to ship liquefied natural gas abroad from Alaska estimated the cost will run between $45 billion and $65 billion, according to a letter sent to the state governor, Sean Parnell. and ConocoPhillips agreed to work together with TransCanada Corp on the project.

  • Euro rises after comments from ECB chief Thursday, 4 Oct 2012 | 4:31 PM ET

    NEW YORK-- The euro is rising against the dollar after European Central Bank President Mario Draghi said that Spain is making progress toward getting its finances under control. The euro rose to $1.3018 in late trading from $1.2899 late Wednesday. The British pound rose to $1.6185 from $1.6072.

  • --We will resolve this CreditWatch when we have a clear view on the completion of Glencore's acquisition of Viterra, which the companies now expect before Nov. 15, 2012. --Upon completion of the acquisition, we expect to equalize our issuer and issue-level ratings on Viterra, given the strategic importance of Viterra's operations to Glencore.

  • M-2 money supply rose by $100 million in the Sept. 24 week to $10,138.2 billion, the Federal Reserve said on Thursday. The Fed said the four-week moving average of M-2 was $10,122.5 billion vs. One week ended Sept. 24.

  • Global bank lobby calls for lower rates on Greek debt Thursday, 4 Oct 2012 | 4:30 PM ET

    *IIF says Greece needs lenience from "troika". Charles Dallara, the managing director of the Institute of International Finance, said Greece would be unable to rein in its sky-rocketing budget deficit without economic growth and needed more lenience from its "troika" of international lenders.

  • *Middle East tensions, Turkey strikes at Syria lift oil. NEW YORK, Oct 4- Oil prices jumped 4 percent on T hursday as inflamed Middle East tensions stoked supply fears and U.S. gasoline futures rallied following a fire at the largest operating refinery in the United States.

  • Walmart says union's LA protest has no impact Thursday, 4 Oct 2012 | 4:28 PM ET

    LOS ANGELES/ CHICAGO, Oct 4- Walmart employees affiliated with a union-backed group walked off the job in Los Angeles on Thursday, protesting working conditions at the world's largest retailer, which promptly defended itself, saying the "publicity stunt" was not having an impact on its business.

  • TEXT-S&P revises Tervita Corp outlook to negative Thursday, 4 Oct 2012 | 4:27 PM ET

    --We expect Tervita Corp.' s 2012 debt-to-EBITDA to deteriorate above 6.5 x through the next 12 months due to soft industry conditions, which will lead to weaker-than-expected EBITDA generation. Rating Action On Oct. 4, 2012, Standard& Poor's Rating Services revised its outlook on Calgary, Alta.- based Tervita Corp. to negative from stable.

  • Cracker Barrel furthers proxy fight Thursday, 4 Oct 2012 | 4:27 PM ET

    LEBANON, Tenn.-- Cracker Barrel Old Country Store Inc. on Thursday urged its shareholders to vote against the election of two activist shareholders to its board. His firm, Biglari Holdings Inc., owns the Steak `n Shake and Western Sizzlin restaurant chains.

  • Oct 4- Raging River Exploration Inc:. *Sees average daily production for period from April through December 2012 to. *The company's 2012 capital budget increases to $82 million from the previous.

  • *ISS recommends shareholders vote to re-elect all News Corp directors. Oct 4- News Corp's controlling Murdoch family received a major endorsement, and won a symbolic victory, with proxy advisory group Institutional Shareholder Services' recommendation that shareholders vote to re-elect the company's board of directors at its annual shareholder meeting.

  • Oct 4- Gabelli Equity Trust Inc:. *Announces the redemption of all remaining outstanding 6.20% series F. *Redemption price will be equal to the liquidation preference of $25.00 per.

  • NEW YORK, Oct 4- The Federal Reserve provided $1.58 billion in liquidity to foreign central banks in the latest week via its swap lines, New York Fed data showed on Thursday. The European Central Bank was the only central bank to tap the swap lines for seven days at a rate of 0.63 percent.

  • BRIEF-Thor buys bus assets of Krystal Infinity Thursday, 4 Oct 2012 | 4:25 PM ET

    Oct 4- Thor Industries Inc:. *Purchases bus assets of Krystal Infinity, LLC. *Deal for $3.9 million in cash.

  • Oct 4- Kootenay Silver Inc:. *Announces $6 million private placement. *Says private placement of 5.72 million units at a price of $1.05 per unit.

  • will start selling Nokia's two latest Lumia smartphones in November, making it the first carrier to commit to the devices in the United States. Struggling Finnish handset maker Nokia announced earlier it would start selling the smartphones in Europe in November with specific price points.

  • BRIEF-Arbor Realty Trust to offer common stock Thursday, 4 Oct 2012 | 4:23 PM ET

    Oct 4- Arbor Realty Trust Inc:. *Announces public offering of common stock. *Says offering 3.5 million common shares.

  • TEXT-S&P rates 2012-LTRT certificates Thursday, 4 Oct 2012 | 4:22 PM ET

    --COMM 2012- LTRT's issuance is a CMBS transaction backed by two commercial mortgage loans totaling $259 million secured by two regional shopping malls: Westroads Mall and Oaks Mall. Westroads Mall is located in Omaha, Neb., with total mall square footage of 1.07 million; 540,304 sq. ft. of which serves as loan collateral.

  • BRIEF-Apollo Global Management prices $722mln CLO Thursday, 4 Oct 2012 | 4:19 PM ET

    Oct 4- Apollo Global Management LLC:. *Management prices $722 million CLO. *Says priced three clos this year, raising approximately $1.7 billion in.

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