Latest Business News Wires - Business Headlines


  • BOJ eyes slight upgrade in forecast, to maintain policy Wednesday, 30 Oct 2013 | 5:00 PM ET

    *New quarterly GDP, CPI forecasts due 0600 GMT. TOKYO, Oct 31- The Bank of Japan is expected to slightly revise up its economic growth forecast to around 1.5 percent for the next fiscal year at a policy review on Thursday on hopes a government's stimulus package will offset slowing exports to Asia.

  • UPDATE 2-U.S. regulator aims for December vote on Volcker Wednesday, 30 Oct 2013 | 4:53 PM ET

    WASHINGTON, Oct 30- U.S. regulators hope to vote in December on a rule that would bar banks from gambling with their own money, the nation's top derivatives regulator said on Wednesday, a sign that the controversial Volcker rule may soon become law.

  • UPDATE 1-Allstate profit beats Street as premiums grow Wednesday, 30 Oct 2013 | 4:48 PM ET

    Oct 30- Allstate Corp, the largest publicly traded home and auto insurer in the United States, reported a quarterly profit that beat Wall Street estimates as it wrote more premiums across its businesses. Allstate's net income fell to $310 million, or 66 cents per share, in the third quarter from $723 million, or $1.48 per share, a year earlier.

  • Oct 30- Visa Inc, the world's largest credit card company, reported a 28 percent fall in quarterly profit due to a higher income tax provision. Net income attributable to Visa fell to $1.19 billion, or $1.85 per Class A share, from $1.66 billion, or $2.47, a year earlier.

  • BOSTON, Oct 30- The security of the Obama administration's healthcare website was at "high risk" because of lack of testing before it opened for enrollment on Oct. 1, according to a government memorandum reviewed by Reuters on Wednesday.

  • Oct 30- Starbucks Corp's profit forecast for 2014 fell short of Wall Street's view, overshadowing fourth quarter profits that jumped 34 percent bolstered by strong traffic gains. Seattle- based Starbucks on Wednesday said it expects fiscal 2014 earnings in the range of $2.55 to $2.65 per share.

  • Open Text revenue misses estimates Wednesday, 30 Oct 2013 | 4:35 PM ET

    Oct 30- Business software company Open Text Corp's revenue missed market estimates as revenue from its cloud services business fell 5 percent. First-quarter net income rose to $30.63 million, or 52 cents per share, in the quarter ended Sept. 30, from $19.4 million, or 33 cents per share, a year earlier.

  • SAN FRANCISCO, Oct 30- The founder of the Lavabit encrypted email service, which shut down rather than allow potentially unlimited government interception, said he will release his programming code to the public in an effort to improve communication security.

  • MetLife profit misses estimates on higher claims Wednesday, 30 Oct 2013 | 4:29 PM ET

    Oct 30- MetLife Inc, the largest U.S. life insurer, reported a third-quarter profit that narrowly missed analysts' estimates as it paid more in claims and benefits to policyholders. MetLife reported a net profit of $942 million, or 84 cents per share, for the quarter ended Sept. 30.

  • Starbucks profit rises 34 percent Wednesday, 30 Oct 2013 | 4:28 PM ET

    Oct 30- Starbucks Corp reported a 34 percent jump in quarterly profit on Wednesday after a rise in visits caused a surprisingly big rise in cafe sales. Global sales at Starbucks cafes open at least 13 months jumped 7 percent, versus analysts' average estimate for a 6.7 percent rise, according to Consensus Metrix.

  • SAN FRANCISCO, Oct 30- Facebook Inc topped Wall Street's revenue targets on Wednesday, as robust growth in its mobile advertising business drove a 60 percent increase in revenue. Shares of Facebook, the world's No.1 online social network, rose 15 percent to $56.45 in after-hours trading.

  • RIO DE JANEIRO, Oct 30- OGX Petróleo e Gas Participações SA, the Brazilian oil company controlled by former billionaire Eike Batista, sought court protection from creditors on Wednesday in Latin America's largest-ever corporate bankruptcy filing.

  • *General Motors rallies, profit leaps on strong demand. NEW YORK, Oct 30- U.S. stocks fell on Wednesday, with the S&P 500 snapping a four-day streak of gains after the Federal Reserve said it had a weaker growth outlook for the economy, even as it held steady with its stimulus program for the time being.

  • TIMELINE-U.S. healthcare law's technology breakdown Wednesday, 30 Oct 2013 | 4:19 PM ET

    Oct 30- U.S. Health and Human Services Secretary Kathleen Sebelius, President Barack Obama's top healthcare adviser, apologized on Wednesday over the technology failures that have plagued the rollout of Obama's healthcare law.

  • Visa profit falls 28 pct due to higher tax provision Wednesday, 30 Oct 2013 | 4:19 PM ET

    Oct 30- Visa Inc, the world's largest credit card company, reported a 28 percent fall in quarterly profit due to higher income tax provision. Net income attributable to Visa fell to $1.19 billion, or $1.85 per Class A share, from $1.66 billion, or $2.47, a year earlier. Total operating revenue rose 9 percent to $2.97 billion.

  • Kraft Foods 3rd-qtr profit rises Wednesday, 30 Oct 2013 | 4:16 PM ET

    Oct 30- Kraft Foods Group Inc reported a higher quarterly profit on Wednesday, helped by cost savings such as a reduction in ad spending in some of its businesses, but revenues were lower than expected.

  • Facebook third-quarter revenue jumps 60 percent Wednesday, 30 Oct 2013 | 4:11 PM ET

    SAN FRANCISCO, Oct 30- Facebook Inc's revenue increased 60 percent to $2.02 billion in the third quarter.

  • Qatar seeking to build $1 billion stake in BofA Wednesday, 30 Oct 2013 | 4:10 PM ET

    Oct 30- Qatar's sovereign wealth fund, one of the world's most prolific investors, is building a $1 billion holding in Bank of America, seeking to benefit from the U.S. economic recovery, the Financial Times reported, citing sources close to the plans.

  • NEW YORK, Oct 30- Copper hit a 1- week high on Wednesday and silver rallied too as the Federal Reserve's decision to retain its stimulus efforts for the U.S. economy pushed several commodities higher.

  • FOREX-Dollar gains versus euro, yen after Fed statement Wednesday, 30 Oct 2013 | 4:07 PM ET

    *Fed to keep buying $85 bln in bonds per month. NEW YORK, Oct 30- The dollar rallied against the euro and yen after the Federal Reserve said on Wednesday it will keep its stimulus for the economy in place but dropped a reference to tightening financial conditions.

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