Latest Business News Wires - Business Headlines


  • *Sees no growth in 2014 if crisis in Syria, Lebanon persists. BEIRUT, Oct 30- Lebanon will need $2.6 billion in budget support over a three-year period to help it overcome the impact of the civil war in neighbouring Syria, caretaker Finance Minister Mohammed Safadi said on Wednesday.

  • Oct 30- Sprint Corp posted a decline in third-quarter revenue on Wednesday, losing more subscribers than expected following the shutdown of its older network, and warned that customer defections would remain high in coming quarters. Sprint, which is 80 percent owned by SoftBank Corp, is revamping its network after years of customer losses.

  • Alcoa warns Quebec against power rate hike Wednesday, 30 Oct 2013 | 11:48 AM ET

    Oct 30- U.S. aluminum producer Alcoa Inc warned on Wednesday that a planned electricity rate hike in Quebec would make its three smelters in the Canadian province uncompetitive.

  • *Zawiya port shut, no sign of El Sharara field restart. TRIPOLI/ LONDON, Oct 30- Libya plans to build two oil refineries in its underdeveloped east and south, Prime Minister Ali Zeidan said on Wednesday, seeking to address grievances and protests which have shut down much of the north African country's oil output.

  • In contrast, RevPAR fell 3 percent for managed and franchise hotels in the Asia-Pacific region, hurt mainly by China. "A lack of demand in China, increased supply growth in China and tougher Olympic-related comparisons in Europe in the third quarter were mainly the culprits," FBR Capital Markets& Co analyst Nikhil Bhalla said.

  • DETROIT, Oct 30- BMW is recalling about 176,000 of its four-cylinder, gasoline-powered vehicles from model years 2012 to 2014 because of potential problems with the power brakes, the company said. Of the total recall, 76,191 are in the United States, about 25,000 are in China, 9,376 in Canada, 6,841 in Germany, 2,738 in Mexico and the rest in other countries, BMW said.

  • Oct 30- Accounting and consulting firm PricewaterhouseCoopers said on Wednesday it struck a deal to buy corporate consulting firm Booz& Co, the latest in a string of mergers by global audit firms aimed at bulking up their fast-growing advisory businesses.

  • *Infosys says no limit on eligibility for U.S. federal contracts. BANGALORE, Oct 30- Infosys Ltd said on Wednesday it has reached a $34 million settlement with U.S. authorities in a case involving the widespread practice by Indian firms of flying workers to client sites in the United States on temporary visas.

  • Berkshire Partners and Barclays declined to comment. It is the fourth biggest player in the U.S. optical market behind Luxottica Group Spa, Wal-Mart Stores Inc and Visionworks of America Inc..

  • Oct 30- Shares of Brixmor Property Group Inc, a shopping center company owned by Blackstone Group LP, rose as much as 4 percent in their market debut as investors were drawn to the second-largest U.S. retail real estate company offering. The New York- based company's shares were up 2.5 percent at $20.49.

  • DETROIT, Oct 30- Chrysler Group LLC said on Wednesday that it expects to be cash-flow positive in the fourth quarter, as the No. 3 U.S. automaker recovers from what Chief Executive Sergio Marchionne called the "painful" launch of the Jeep Cherokee mid-size SUV.

  • Top Obamacare official apologizes for website 'debacle' Wednesday, 30 Oct 2013 | 11:06 AM ET

    WASHINGTON, Oct 30- President Barack Obama's top health official apologized on Wednesday for the botched rollout of the government's healthcare website, acknowledging it was a "debacle", while also blaming insurers for cancelling coverage for hundreds of thousands of people.

  • NEW YORK, Oct 30- Picketers headed for the Manhattan storefront of Barneys New York Inc on Wednesday to express outrage over black customers' complaints that they were stopped by police after making luxury purchases.

  • NEW YORK, Oct 30- A gauge of global shares rose to its highest in almost six years on Wednesday as bets lingered the Federal Reserve will remain supportive, while the U.S. dollar edged lower giving further support to gold and copper prices.

  • WASHINGTON, Oct 30- U.S. Health Secretary Kathleen Sebelius on Wednesday said technical problems with HealthCare.gov make it hard to collect accurate data on how many people have signed up for coverage through the federal health insurance exchange.

  • UPDATE 2-Honda profit climbs as Fit subcompact pays off Wednesday, 30 Oct 2013 | 10:48 AM ET

    TOKYO, Oct 30- Honda Motor Co is on track for its best annual profit in five years and a rosier longer-term future, boosted by the popularity of the new Fit subcompact which left the company struggling to keep up with demand.

  • DETROIT/ MILAN, Oct 30- Italian automaker Fiat cut its 2013 financial targets on Wednesday as a third-quarter revenue slump in crucial Latin American markets offset a strong performance at Chrysler, the No.3 U.S. automaker it controls.

  • DETROIT, Oct 30- BorgWarner Inc, a maker of automotive engine and drivetrain components, raised its full-year earnings forecast after reporting a 65- percent jump in quarterly profit, due partly to higher demand for turbochargers and all-wheel-drive systems.

  • *GM profit leaps on strong US demand, smaller Europe loss. NEW YORK, Oct 30- U.S. stocks were little changed on Wednesday, with the Dow and the S&P 500 near record highs, ahead of a policy decision by the Federal Reserve later in the day.

  • WASHINGTON, Oct 30- Two weeks was not enough time to test the overall federal health insurance exchange website that launched on Oct. 1, the top U.S. healthcare official told lawmakers on Wednesday.

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