Latest Business News Wires - Business Headlines


  • Web.com shares fall after short-seller report Wednesday, 30 Oct 2013 | 2:38 PM ET

    Oct 30- Web.Com Group Inc's shares fell as much as 12 percent after a research group said the internet domain name registrar had changed past financial statements ahead of a debt offering and called for a probe by the U.S. Securities and Exchanges Commission.

  • U.S. joins lawsuit against firm that vetted Snowden Wednesday, 30 Oct 2013 | 2:35 PM ET

    WASHINGTON, Oct 30- The U.S. Justice Department said on Wednesday it joined a lawsuit filed by a whistleblower against United States Investigations Services, the firm that vetted Edward Snowden, who leaked documents about U.S. spying efforts.

  • Oct 30- The federal data hub was operating again for the 14 state exchanges on Wednesday after the second outage this week in the data center where it is based, restoring a key link used to enroll Americans in the new health insurance exchanges, a government official said on Wednesday.

  • SAN JUAN, Puerto Rico, Oct 30- A Securities and Exchange Commission judge dismissed a complaint against two top executives of UBS Puerto Rico as it prepares to fight off a flood of legal complaints prompted by local investor losses adding up to $4.5 billion so far this year.

  • However, lifting the 80- year old ban on general solicitation in certain private securities offerings only took effect after the SEC completed the new regulations. The final rule was adopted by the SEC in July and advertising began on Sept. 23.

  • NEW YORK, Oct 30- U.S. stocks fell in volatile trading on Wednesday after the Federal Reserve said it would keep its stimulus program intact for the time being, as expected, though it also nodded to a weaker economic growth outlook.

  • LONDON, Oct 30- A buoyant economy will prompt the Bank of England to bring forward the time it thinks unemployment will fall to the 7 percent threshold where it says it will discuss changing monetary policy, a Reuters poll found. "They'll bring it forward from end-2016 to early 2016- the economy is stronger," said Michael Saunders at Citi.

  • MEXICO CITY, Oct 30- Thousands of people were evacuated in western Mexico on Wednesday morning after thieves tapping a pipeline run by state oil monopoly Pemex caused a major gasoline leak.

  • NEW YORK, Oct 30- A federal judge has made it easier for the trustee seeking money for Bernard Madoff's victims to pursue more than $8 billion of claims against banks and other financial firms that received money from "feeder funds" that profited from the swindler's massive Ponzi scheme.

  • Sprint demonstrates 1 gigabit wireless data speeds Wednesday, 30 Oct 2013 | 2:05 PM ET

    Google Inc boasts 1 gigabit/second speeds on a fiber network it built in Kansas City. Sprint, 80 percent owned by Japan's SoftBank Corp, plans to use the latest technology and airwaves from its buyout of Clearwire Corp to boost its network capacity. The first markets with limited availability are New York, Los Angeles, Chicago, Tampa and Miami.

  • NEW YORK, Oct 30- Institutional investors who met with Twitter Inc this week say they are optimistic about its initial public offering and see little sign of the irrational exuberance that preceded Facebook Inc's splashy coming-out party in 2012..

  • *Experimental drug mimics GLP-1 and GIP hormones. LONDON, Oct 30- An experimental drug that mimics the effects of two naturally occurring hormones appears to work significantly better than existing single-hormone medicines against diabetes and obesity, scientists said on Wednesday.

  • NEW YORK, Oct 30- Twitter Inc was sued for $124 million on Wednesday by two companies claiming the social media darling fraudulently had them organize a private sale of its shares to stoke investor interest for an initial public offering then canceled it.

  • WASHINGTON, Oct 30- The Federal Reserve extended its support for a slowing U.S. economy on Wednesday, saying it will keep buying $85 billion in bonds per month for the time being.

  • *Europe loss narrows, sales in region rise for first time in 2 yrs. Like its smaller U.S. rival, Ford Motor Co, GM also offered a more optimistic picture of Europe, where the company's revenue rose for the first time in two years.

  • WASHINGTON, Oct 30- The U.S. government's top health official on Wednesday called the rollout of the website that is central to President Barack Obama's signature insurance reform a "debacle" but blamed insurers for cancelling the health plans of hundreds of thousands of Americans.

  • NEW YORK, Oct 30- When Campbell Soup Co was losing market share to private label brands and smaller competitors in recent years, it could have used another pop superstar like Andy Warhol to try to make its brand hip again, especially with 20- somethings. Investors have embraced the initiatives, pushing Campbell stock up more than 30 percent in the last two years.

  • LONDON, Oct 30- Copper rose to its highest level in a week on Wednesday, boosted by expectations the U.S. Benchmark copper on the London Metal Exchange ended up more than 1 percent at $7,298 a tonne, from a close of $7,200 on Tuesday, but off a peak of $7,299.50 a tonne hit earlier, its highest since Oct. 23.

  • *Volkswagen and Orkla rise after earnings and sales figures. LONDON, Oct 30- Pan-European equities settled near 5- year highs on Wednesday, supported by robust trading updates from carmaker Volkswagen and Norwegian conglomerate Orkla, among others.

  • NEW YORK, Oct 30- Boeing Co has decided to place a significant amount of design work for its coming 777 X jetliner in cities outside the Seattle area, where the current 777 was designed and is being built, according to an internal memo reviewed by Reuters and confirmed by Boeing on Wednesday.

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