Latest Business News Wires - Business Headlines


  • Nov 5- Satellite TV provider DirecTV added more customers in the United States than expected in the third quarter, showing strong subscriber growth in contrast to its cable rivals, which lost video subscribers in the same period.

  • Rising U.S. oil stocks have kept prices under pressure in recent weeks and are expected to show a new weekly increase of around 1.8 million barrels, according to a Reuters poll ahead of reports from industry group the American Petroleum Institute and the Energy Information Administration.

  • Nov 5- CVS Caremark Corp raised its profit forecast for the year on Tuesday, as sales grew at its drugstore chain and it processed more prescriptions from new clients. Wall Street analysts expected $31.53 billion, according to Thomson Reuters I/B/E/S.

  • LONDON, Nov 5- Italy's Economy Minister Fabrizio Saccomanni said on Tuesday he expects the European Central Bank will take current euro strength into consideration when it discusses interest rates later this week.

  • *Market eyes USDA world supply/demand report on Friday. Soybeans also fell, hitting their lowest since February 2012, while corn was close to unchanged and hovering near a three-year low. There have been no hitches or glitches, "said Dewey Strickler, president of Ag Watch Market Advisors.

  • US CFTC votes to propose new position limits rule Tuesday, 5 Nov 2013 | 11:38 AM ET

    WASHINGTON, Nov 5- The U.S. Commodity Futures Trading Commission on Tuesday voted to propose new rules setting position limits for traders, reviving efforts to curb commodity market speculation after a court rejected an earlier version of the plan. The commission voted three-to-one to propose the new rules.

  • NEW YORK, Nov 5- Prices for U.S. U.S. service-sector business activity picked up in October, with the Institute for Supply Management's services index up to 55.4 last month despite expectations by economists for a dip to 54. A reading above 50 indicates expansion.

  • DETROIT, Nov 5- General Motors Co on Wednesday named a former BMW AG and German luxury goods company executive to spearhead Cadillac's marketing efforts to strengthen its brand outside the United States. Pre-bankruptcy, General Motors lacked the financial clout to boost demand beyond the small numbers sold outside the United States.

  • *Sees 2013 earnings of at least $4.01/ share vs prev forecast $3.96. *Expects 2013 revenue of at least $8.84 bln vs est $8.74 bln.

  • NEW YORK, Nov 5- Jerome Schlichter, the St. Louis attorney credited with literally making a federal case out of 401 fees, just filed his 14th class action against a company he claims mismanaged its employees' retirement savings.

  • *BMW hits autos, insurers knocked by RSA outlook. Autos were led lower by BMW, which dropped 2.6 percent after the German carmaker said quarterly profit at its auto unit fell more than expected, hurt in part by price discounts in core European markets.

  • WASHINGTON, Nov 5- Homeownership in the United States held near 18- year lows in the third quarter, suggesting the housing market was still struggling to overcome challenges brought on by the recession.

  • WASHINGTON, Nov 5- The U.S. derivatives regulator on Tuesday reintroduced a plan to curb commodity market speculation, reviving a crucial Wall Street reform after a judge knocked down an earlier version of its rule on position limits. The rule has been one of the most hotly debated aspects of an overhaul of Wall Street after the financial crisis.

  • NEW YORK, Nov 5- Jerome Schlichter, the St. Louis attorney credited with literally making a federal case out of 401 fees, just filed his 14th class action against a company he claims mismanaged its employees' retirement savings.

  • CALGARY, Alberta, Nov 5- Encana Corp, Canada's largest natural gas producer, said on Tuesday it will cut about 20 percent of its workforce, slash its dividend, and focus future spending on just five regions rich in oil and gas liquids as it looks to move away from low-value natural gas production.

  • DETROIT, Nov 5- The city of Detroit will delay its plan to move retiree healthcare onto the Affordable Care Act exchanges because of problems that are plaguing the roll-out of the online insurance marketplaces, an attorney representing the city said in bankruptcy court on Tuesday.

  • *Michael Kors climbs after earnings. *GT Advanced jumps on deal with Apple. "Ideally you want very slow growth, the market really likes that and the concern is that the market gets ahead of it," said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York.

  • NEW YORK, Nov 5- A federal appeals court on Tuesday upheld the dismissal of a shareholder lawsuit accusing Freddie Mac of concealing its precarious finances and its subprime mortgage exposure prior to the 2008 financial crisis.

  • Ford shuffles exec team, names new design chief Tuesday, 5 Nov 2013 | 10:44 AM ET

    DETROIT, Nov 5- Ford Motor Co on Wednesday shuffled some of its management team, including naming a new design chief. In his new position, he will report to Raj Nair, global product development chief, leading the design of all Ford and Lincoln vehicles globally.

  • Nov 5- AOL Inc reported higher-than-expected third-quarter revenue on increased advertising sales, but earnings fell sharply because of challenges at its network of community news websites known as Patch.

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