Latest Business News Wires - Business Headlines


  • 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.

  • *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.

  • *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.

  • UPDATE 1-Barrick Chile mine workers set to strike Wednesday, 30 Oct 2013 | 1:27 PM ET

    SANTIAGO, Oct 30- The majority of Chilean union workers at Barrick Gold Corp's suspended Pascua-Lama gold mine have voted to strike, which they say could delay the reactivation of the controversial project, according to a union statement on Wednesday.

  • WASHINGTON, Oct 30- The U.S. derivatives regulator on Wednesday approved a plan to better protect customers of futures brokers after the collapse of MF Global left clients struggling to get their cash back.

  • Coffee drinkers treated to more arabica as prices sink Wednesday, 30 Oct 2013 | 1:06 PM ET

    *Brazil main market where switching happening. LONDON, Oct 30- Coffee drinkers in Brazil, America, Eastern Europe and the Middle East are expected to down more arabica beans in their brew in the coming year as cheap prices attract additional demand for the higher spec product.

  • JP Morgan puts chief FX dealer in London on leave -source Wednesday, 30 Oct 2013 | 1:03 PM ET

    LONDON, Oct 30- JP Morgan has put its chief currency dealer in London, Richard Usher, on leave, a source familiar with the matter said on Wednesday. Usher, head of spot G10 currency trading, joined JP Morgan from Royal Bank of Scotland in May 2010.

  • MEXICO CITY, Oct 30- Saddled with a tax rate of almost 100 percent, Mexican state oil company Pemex hands over so much cash to the government that it has only a fraction of the money it needs to invest in production and exploration.

  • NEW YORK/ PARIS, Oct 30- Shares in French online advertising firm Criteo rose more than 30 percent in its stock market debut on Nasdaq on Wednesday, showing investor appetite for technology start-ups and delivering a payday to its venture capital backers.

  • Oct 30- Chipmaker Intel Corp is having second thoughts about getting into the television business and is in talks with Verizon Communications Inc to take over its Internet TV initiative, a source familiar with the matter said on Wednesday.

  • Oct 30- Parexel International Corp's shares fell as much as 18 percent after the drug research services provider said it struggled to win new contracts when rivals reported strong results and raised their forecasts.

  • Boeing to place major 777X design work outside Seattle Wednesday, 30 Oct 2013 | 12:51 PM ET

    NEW YORK, Oct 30- Boeing Co has decided to place significant design work for its forthcoming 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.

  • *Cuts 2013 trading profit forecast to 3.5- 3.8 bln euros. *Weak Latam and loss in Europe offset Chrysler profit. MILAN/ DETROIT, Oct 30- Italian carmaker Fiat cut its 2013 profit and sales forecasts on Wednesday as a third-quarter slump in Latin America offset a strong performance at Chrysler, the No.3 U.S. automaker it controls.

  • WASHINGTON, Oct 30- U.S. Commodity Futures Trading Commission Chairman Gary Gensler said regulators have not yet agreed on the final wording of the controversial Volcker rule, but he is trying to schedule a commission vote on the rule in December.

  • *Investors hope to learn how long Fed bond-buying might continue. NEW YORK, Oct 30- U.S. stocks edged lower on Wednesday, following a string of four sessions of gains and before the release of the Federal Reserve's statement on the economy and its ultra-loose money policy.

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