Latest Business News Wires - Business Headlines


  • WASHINGTON, Oct 31- A senior U.S. Senate Democrat and a high-ranking Republican in the House of Representatives urged congressional budget negotiators on Thursday to agree on a 2014 spending level by Nov. 22- even if they have not yet figured out how to achieve any required savings.

  • NEW YORK, Oct 31- A New York lawyer testified on Thursday that he quit a team that was suing Chevron Corp over environmental pollution in Ecuador in 2010 for "ethical" reasons.

  • Oct 31- Storage products retailer Container Store Group Inc raised $225 million after pricing its initial public offering at the top end of its increased price range. The company had planned to sell shares at $14- $16 per share but raised the range to $17- $18 on Wednesday. JPMorgan, Barclays and Credit Suisse were the lead underwriters for the offering.

  • A federal jury in Manhattan convicted Paul Daugerdas, the lawyer, on seven of 16 counts including conspiracy, tax evasion and mail fraud following an eight week re-trial in his criminal case. District Judge William Pauley ordered a new trial in June 2012 after determining a juror had lied during jury selection.

  • UPDATE 1-Bankrupt Alabama county gets $300 million more Thursday, 31 Oct 2013 | 6:09 PM ET

    BIRMINGHAM, Ala., Oct 31- Alabama's bankrupt Jefferson County on Thursday approved a reworked settlement plan for its landmark $4.2 billion municipal bankruptcy that increases already stiff losses for Wall Street creditors by $300 million.

  • NEW YORK, Oct 31- A New York lawyer testified on Thursday that he quit a team that was suing Chevron Corp over environmental pollution in Ecuador in 2010 for "ethical" reasons.

  • BRUSSELS, Oct 31- International inspectors are set to put on hold a trip to Athens because they have been unable to bridge differences with Greece over how to close a 2 billion-euro hole in its 2014 budget, euro zone officials said.

  • Oct 31- Women's apparel retailer Body Central Corp reported a larger-than-expected quarterly loss as it struggled to attract customers, sending its shares down 20 percent after the bell. Apparel retailers including Aeropostale Inc and Abercrombie& Fitch Co also reported weak quarterly results as customers restrain spending in an uncertain economy.

  • LOS ANGELES, Oct 31- U.S. solar company First Solar Inc on Thursday reported quarterly results that blew past estimates and raised its earnings outlook for the year as it began recognizing revenue from a major project in California, sending shares higher. First Solar shares were up 6.2 percent at $53.40 in extended trade after closing at $50.30 on the Nasdaq.

  • TORONTO, Oct 31- Barrick Gold Corp said on Thursday it would stop development of its Pascua-Lama mine in South America indefinitely, a surprise reversal on a project that has already cost the world's largest gold producer more than $5 billion.

  • NEW YORK, Oct 31- Investors in funds based in the United States poured $11.8 billion into stock funds in the latest week, marking the third straight week of big inflows into the funds, data from Thomson Reuters' Lipper service showed on Thursday.

  • SAO PAULO, Oct 31- Brazilian mid-sized lender Banco Industrial e Comercial SA said on Thursday it will sell 72 percent of its capital to China Construction Bank for 1.62 billion reais which could lead to a delisting of the Brazilian bank. The Sao Paulo- based bank, which specializes in corporate credit, is being advised by Citigroup Inc..

  • Trimble Navigation enjoys strong mobile sales Thursday, 31 Oct 2013 | 5:38 PM ET

    Oct 31- Trimble Navigation Ltd, a navigation software maker, posted better-than-expected quarterly earnings and forecast a strong fourth quarter, helped by robust sales in the transport and logistics sectors.

  • Oct 31- Ellie Mae Inc, whose software is used by mortgage professionals, reported a lower-than-expected third-quarter profit, hurt by lower mortgage volumes and higher R&D spending, pushing its shares down more than 20 percent after the bell.

  • UPDATE 1-Audience forecasts lower orders from Samsung Thursday, 31 Oct 2013 | 5:27 PM ET

    *Sees Q4 adj loss of $0.12- $0.16/ shr vs est loss of $0.03. Oct 31- Audio-chipmaker Audience Inc forecast fourth-quarter results largely below analysts' estimates, hurt by weak demand from its biggest customer, Samsung Electronics Co Ltd..

  • WASHINGTON, Oct 31- A senior Republican on the Senate Banking Committee said on Thursday he would oppose efforts to block the nomination of Janet Yellen as Federal Reserve chairwoman with a filibuster unless some disturbing disclosure emerged.

  • *ISS accounts for about 11 percent of MSCI's revenue. Oct 31- Stock market index provider MSCI Inc said on Thursday that it is exploring a sale or other options for its influential and controversial governance unit, Institutional Shareholder Services Inc..

  • *Exxon Mobil shares rise after results beat Wall St forecast. Dragging on the Dow and the S&P 500, Visa Inc lost 3.5 percent to $196.67 after the world's largest credit and debit card company reported a 28 percent drop in quarterly profit.

  • NEW YORK, Oct 31- The euro fell the most against the U.S. dollar in six months on Thursday while the greenback rose against major currencies on expectations of diverging policy paths by the U.S. and European central banks. Wall Street stocks fell alongside U.S.

  • WASHINGTON, Oct 31- President Barack Obama on Thursday pledged an aggressive expansion of U.S. efforts to draw foreign investment by clearing away red tape and having U.S. diplomats court investors who want to break into the market.

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