Business News


  • LONDON, Oct 8- Carillion PLC:. *Has been named as the preferred bidder for the Birmingham energy savers. *The eight-year bes contract is estimated to be initially worth up to  £600.

  • DUBAI, Oct 8- Saudi Arabia's share index hit a 10- week low and most other Gulf Arab bourses declined on Monday as slumping oil prices and a gloomy start to the week on world markets weighed on regional sentiment.

  • Guinness Ghana profits jump as turnover rises Monday, 8 Oct 2012 | 11:18 AM ET

    ACCRA, Oct 8- Guinness Ghana Breweries Limited's. net profits rose to 25 million cedis during the 12 months through June 2012, up from 533,000 cedis during the same period a year earlier, the company said on Monday.

  • WASHINGTON, Oct 8- U.S. telecommunications operators should not do business with China's top telecom gear makers because potential Chinese state influence on the companies poses a security threat, the U.S. House of Representatives Intelligence Committee said in a report on Monday.

  • Oct 8- Gannett Co Inc said it reached a deal with Charles Ergen's Dish Network Corp on Monday avoiding a blackout that would have prevented some Dish customers in the United States from seeing content broadcast by networks ABC, NBC and CBS.

  • GENEVA, Oct 8- Libyan-owned energy group Tamoil said on Monday production at its Swiss Collombey refinery would resume on Tuesday after a two-and-a-half week planned halt for maintenance. The plant will reach its full capacity of 78,000 barrels per day on Oct. 20, the company said in an emailed statement.

  • TEXT-S&P speculative-grade composite spread narrows Monday, 8 Oct 2012 | 11:11 AM ET

    Oct 8- Standard& Poor's investment-grade composite spread tightened by 3 basis points to 184 bps Friday, and the speculative-grade composite spread tightened by 8 bps to 606 bps. By rating, the' AA',' A', and' BBB' spreads tightened by 3 bps each to 122 bps, 156 bps, and 225 bps, respectively.

  • Lockheed Martin reorganizing, cutting 200 jobs Monday, 8 Oct 2012 | 11:10 AM ET

    BETHESDA, Md.-- Lockheed Martin is reorganizing a portion of its business and cutting about 200 jobs. Lockheed Martin Corp. previously announced that Marillyn Hewson, who currently leads the electronic systems division, will become president and chief operating officer on Jan. 1. Kubasik will become the CEO of Lockheed Martin at the start of the new year.

  • --U.S. women's specialty apparel retailer Jill Holdings LLC amended financial covenants under its existing term loan. --We are also raising the issue-level rating on subsidiary JJ Lease Funding Corp.' s $120 million term loan B to' B-' from' CCC' and revising the recovery rating to' 3' from' 4'.

  • WARSAW, Oct 8- Polish power firm ZE PAK took a step towards an initial public offering planned for the fourth quarter after the financial market watchdog approved its prospectus, the regulator said on Monday.

  • *Separatists spokesman pleads not guilty, released on bond. MOMBASA, Kenya, Oct 8- A senior leader of a separatist group campaigning for the secession of Kenya's coastal strip was charged in court on Monday with inciting members of his group to disobey the law by declaring the coast is not a part of the east African country.

  • LONDON/ PARIS, Oct 8- A group of seven multinational companies has told the British government that they could halt their investment in the UK green energy sector if state support for renewable energy wanes.

  • Weidmann: ECB has to know limits of monetary policy Monday, 8 Oct 2012 | 11:08 AM ET

    FRANKFURT, Oct 8- Part of the success of central banks is that they recognise their limits instead of embarking on too many tasks during a crisis, European Central Bank Governing Council member Jens Weidmann said on Monday.

  • AKTAU, Kazakhstan, Oct 8- An outspoken critic of Kazakhstan's veteran president was jailed for seven-and-a-half years on Monday for colluding with a fugitive billionaire in a failed attempt to rally oil workers to bring down the government.

  • LONDON, Oct 8- Richland Resources Ltd:. *Tanzania ministry has informed co it will not provide support to mining. *Ministry informed co it will not provide support until claim for unpaid.

  • *Kirk also seeks to blacklist entire energy sector of Iran By Roberta Rampton. WASHINGTON, Oct 8- Republican Senator Mark Kirk, who last year co-authored a package of U.S. sanctions on Iran's banking and oil sectors, is working on new legislation that would further tighten the economic noose on Tehran, an aide to the lawmaker said Monday.

  • AAA Mich.: Gas prices rise 3 cents from last week Monday, 8 Oct 2012 | 11:04 AM ET

    DEARBORN, Mich.-- AAA Michigan says gasoline prices have risen roughly 3 cents during the past week to a statewide average of about $3.91 per gallon. Of the Michigan cities it surveys, AAA Michigan said the cheapest price for self-serve unleaded fuel is in the Marquette area, where it's about $3.76 a gallon.

  • *Barclays Bank drag down main stocks index. NAIROBI, Oct 8- Dollar demand from banks and importers pushed the Kenyan shilling. We've also seen some importers buying too, "said Peter Mutuku, a trader at Bank of Africa.

  • *Euro zone meeting, debate of possible Spain bailout watched. *Hungary's forint gives back some of Friday gains.

  • *Germany, others say Spain does not need financial help. LUXEMBOURG, Oct 8- Euro zone finance ministers delivered a united defence of Spain on Monday, saying the country was taking steps to overhaul its economy, funding itself successfully in the financial markets and did not need a bailout, at least for now.