Latest Business News Wires - Business Headlines


  • 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.

  • *Oil traders hunt for smarter ways to assess demand, supply in China. *Lack of data on China's crude stocks, refinery operations. China's rising fuel demand saw it overtake the United States as the world's top net oil importer last month.

  • MANILA, Nov 1- A scandal over lawmakers' misuse of public funds has become the biggest crisis of Philippine President Benigno Aquino's three-year rule, tainting his carefully crafted image as a corruption fighter and undermining his ability to push economic reforms.

  • *Ariad says working with FDA to find a way to bring drug back. WASHINGTON, Oct 31- Ariad Pharmaceuticals Inc has suspended sales of its leukemia drug Iclusig after an investigation by the U.S. Food and Drug Administration found that a significant number of patients developed life-threatening blood clots or narrowing of the veins.

  • UPDATE 1-AIG's property unit reports underwriting loss Thursday, 31 Oct 2013 | 4:51 PM ET

    Oct 31- American International Group Inc reported an underwriting loss in its property and casualty business in the third quarter, sending its shares down 3 percent in extended trading.

  • Oct 31- JPMorgan Chase and other Wall Street creditors have agreed to $300 million in new debt concessions aimed at ending the second largest U.S. municipal bankruptcy by year's end.

  • 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.

  • LONDON/ HOUSTON, Oct 31- Oil industry shareholders concerned about poor returns and costly projects urged executives from Big Oil this week to return cash to shareholders- and at least one of the world's top five petroleum companies fully acquiesced.

  • *Silver down more than 3 pct, platinum group metals slump. NEW YORK/ LONDON, Oct 31- Gold and other precious metals fell on Thursday as commodity funds sold to square books at the end of October, and as investors kept selling after the Federal Reserve's latest policy outlook offered few surprises. Gold's daily decline was the second biggest among commodities.

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