Latest Business News Wires - Business Headlines


  • Oct 30- Sprint Corp posted a decline in third-quarter revenue on Wednesday as it lost more subscribers than expected following the shutdown of its older iDen network and warned that customer defections would remain high in coming quarters.

  • MOSCOW, Oct 30- Russia will open up liquefied natural gas exports for companies other than Gazprom under a law passed by the government on Wednesday as part of plans to more than double its global market share by 2020..

  • LONDON, Oct 30- The European Central Bank will soon provide another shot in the arm for Europe's strained banks with a more cheap, long-term loans, according to a firm majority of economists polled by Reuters.

  • *Private employers hire 130,000 workers in October. WASHINGTON, Oct 30- U.S. private-sector employers hired the fewest number of workers in six months in October while tepid domestic demand kept inflation benign last month, suggesting the economy was still in need of stimulus from the Federal Reserve.

  • *GM reports strong profit on US demand, smaller Europe loss. NEW YORK, Oct 30- Wall Street was set for a slightly higher open on Wednesday, adding to fresh records scaled by the Dow and the S&P 500, amid sturdy results and on expectations the Federal Reserve will continue its stimulus efforts into next year.

  • Oct 30- BorgWarner Inc, a maker of automotive turbochargers and emission systems, raised its full-year earnings forecast after reporting a 65 percent jump in quarterly profit, partly due to higher demand for fuel-efficient vehicles.

  • UPDATE 1-RBS reviews FX practices, Barclays flags probe Wednesday, 30 Oct 2013 | 9:00 AM ET

    LONDON, Oct 30- Fallout from global investigations into possible manipulation of the $5.3 trillion- a-day forex market spread on Wednesday, as Royal Bank of Scotland said it had sought to reassure clients about rates they were offered while Barclays said it was cooperating with regulators.

  • Iraq embraces China's growing oil dominance Wednesday, 30 Oct 2013 | 8:56 AM ET

    *China now holds 21 percent of Iraq oilfield projects. BAGHDAD, Oct 30- From the giant southern oilfields to the lively souks of Basra, China is drilling ever deeper into Iraq.

  • Phillips 66 said on Wednesday its refining unit lost $2 million in the third quarter, driven by a 40 percent decline in the average worldwide crack spread, or the difference between wholesale petroleum product prices and crude oil.

  • *First-qtr profit $0.68/ shr vs est $0.66. Oct 30- Automatic Data Processing Inc reported a higher-than-expected quarterly profit as it processed more payrolls in an improving U.S. job market. Net earnings from continuing operations rose to $328.6 million, or 68 cents per share, in the first quarter from $302.5 million, or 63 cents per share, a year earlier.

  • Uranium miner Cameco turns higher profit Wednesday, 30 Oct 2013 | 8:50 AM ET

    Oct 30- Cameco Corp, the world's third-biggest uranium producer, reported higher quarterly profit on Wednesday as its uranium sales and realized price rose. Net earnings for the third quarter jumped to C $211 million, or 53 Canadian cents per share, from C $79 million, or 20 Canadian cents per share, a year before.

  • Oct 30- Accounting and consulting firm PricewaterhouseCoopers struck a deal to buy corporate consulting firm Booz& Co to bulk up its advisory and tax business. The companies said the deal is subject to approval from Booz& Co's partner vote, scheduled for December.

  • DETROIT, Oct 30- General Motors Co on Wednesday posted a better-than-expected quarterly profit on strong results in its core North American market and the first revenue increase in Europe in two years. "The story in Europe overall is really consistent with the plan we laid out," he told reporters.

  • UPDATE 2-Record Porsche and Audi sales keep VW on target Wednesday, 30 Oct 2013 | 8:34 AM ET

    BERLIN, Oct 30- Record quarterly sales of luxury Porsches and Audis helped Volkswagen, Europe's biggest carmaker, to stick to its full-year target for flat earnings on Wednesday, easing some concerns about the costs of its new manufacturing platform.

  • WASHINGTON, Oct 30- U.S. consumer prices rose modestly in September but there was little sign of underlying inflation in the economy, which should give the Federal Reserve scope to maintain its monthly bond purchases.

  • NEW YORK, Oct 30- U.S. private-sector employers added 130,000 jobs in October, lower than economists' expectations for the month, a report by a payrolls processor showed on Wednesday.

  • *Doesn't expect many more years of instability in Egypt, North Africa. DUBAI, Oct 30- Templeton Emerging Markets Group is looking to increase its equities investment in Egypt because it thinks the political environment will stabilise and the government is committed to repairing the economy, the head of the group said.

  • Oct 30- Garmin Ltd raised its earnings forecast for 2013 after reporting better-than-expected quarterly results as it sold more navigation devices used in aircraft and by fitness enthusiasts.

  • U.S. private sector adds 130,000 jobs in October-ADP Wednesday, 30 Oct 2013 | 8:19 AM ET

    NEW YORK, Oct 30- U.S. private-sector employers added 130,000 jobs in October, lower than economists' expectations for the month, a report by a payrolls processor showed on Wednesday. Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 150,000 jobs.

  • Oct 30- Quarterly profit at Phillips 66 fell sharply, as shrinking discounts for crude oil at some refineries hurt margins. Profit in the third quarter was $535 million, or 87 cents per share, compared with $1.6 billion, or $2.51 in the same period a year earlier. Analysts on average had expected a profit of 94 cents per share, according to Thomson Reuters I/B/E/S.

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