Latest Business News Wires - Business Headlines


  • Oct 23- Health insurer WellPoint Inc on Wednesday reported a third-quarter profit that beat analysts' expectations as it added new members and the cost of providing healthcare services was lower than anticipated.

  • American Realty to buy Cole Real Estate for $11.2 billion Wednesday, 23 Oct 2013 | 6:42 AM ET

    Oct 23- American Realty Capital Properties said it would buy Cole Real Estate Investments for $11.2 billion to create the largest net lease real estate investment trust. American Realty said it would offer 1.0929 of its shares or $13.82 in cash for each Cole share.

  • Japan banks cut JGB holdings 24 pct in March-August - BOJ Wednesday, 23 Oct 2013 | 6:41 AM ET

    TOKYO, Oct 23- The Bank of Japan's aggressive monetary easing prompted the country's banks to cut their government bond holdings by 24 percent between March and August to reduce risk on their balance sheets, the central bank said on Wednesday.

  • Oct 23- WellPoint Inc said on Wednesday that third-quarter net income fell as costs rose due to investments for growth opportunities and increased compensation. It said that it had earnings of $2.10 per share in the quarter, up from $2.09 a year earlier. Analysts were expecting a profit of $1.82 per share, according to Thomson Reuters I/B/E/S.

  • Oct 23- Encana Corp, Canada's largest natural gas producer, reported its second straight quarterly profit as its oil and natural gas liquids volumes nearly doubled. The company, which is restructuring its operations under new Chief Executive Doug Suttles, reported a net profit of $188 million, or 25 cents per share, for the third quarter.

  • MANILA, Oct 23- Philippine President Benigno Aquino said on Wednesday the concrete blocks found on a disputed shoal in the South China Sea are "very old", backtracking on Manila's earlier accusation that China was building new structures in the area.

  • Oct 23- U.S. chemical maker W.R. Grace& Co reported an 8 percent decline in quarterly profit due to lower prices of its catalysts used by refiners to process crude oil. The company's net income fell to $69.4 million, or 89 cents per share in the third quarter, from $75.5 million, or 99 cents per share, a year earlier. Revenue fell less than 1 percent $771.3 million.

  • *Extends trend seen in New Zealand, China and Japan. SYDNEY/ SINGAPORE, Oct 23- Inflation fears heightened in Asia on Wednesday as price pressures in Australia intensified and as China's short-term interest rates shot higher on concerns the central bank may soon tighten liquidity.

  • LONDON, Oct 23- Copper fell nearly 1 percent on Wednesday as concerns of tighter monetary policy in top metals user China outweighed speculation that Tuesday's tepid U.S. jobs data will deter the Federal Reserve from tapering its stimulus this year.

  • Net profit rose to $317.6 million, or 86 cents per share, from $290.4 million, or 79 cents per share, a year earlier. Revenue for the quarter rose about 3 percent to $3.19 billion, roughly in line with Wall Street estimates of $3.17 billion.

  • JOHANNESBURG, Oct 23- South Africa's Sibanye Gold, spun off earlier this year by Gold Fields, expects earnings to be similar in the second half of the year to the first, assuming its forecast holds for the bullion price to stay around current levels.

  • *Portugal plans debt swap to ease refinancing burden. LONDON, Oct 23- Portugal aims to replicate Ireland's path out of a bailout with a debt swap later this year, but the likely high cost may sow doubt among investors that it can stand on its own feet.

  • MOSCOW, Oct 23- Russia's Rosneft, the world's largest listed oil company by output, is cutting its forecast of production at the Vankor field in East Siberia that serves as its main resource base for supplying Asian markets.

  • *Gold retreats from 4- week high as dollar recovers. *Gold premiums in India hit $120/ oz. LONDON, Oct 23- Gold retreated from four-week highs on Wednesday as a slight recovery in the dollar prompted some investors to cash in gains, with a rally sparked by weaker-than-expected U.S. non-farm payrolls data running out of steam.

  • UPDATE 3-Oil slips towards $109 as stockpiles rise Wednesday, 23 Oct 2013 | 5:08 AM ET

    LONDON, Oct 23- Brent crude slipped towards $109 a barrel on Wednesday, pressured by rising inventories in China and expectations of a further buildup in the United States, the world's top consumer. Brent crude slipped 71 cents to $109.26 a barrel by 0846 GMT, after hitting a session high of $110.06.

  • Asian markets saw widespread weakness as a variety of factors ranging from a strengthening yen in Japan and fading rate cut hopes in Australia added to the negativity. "What has happened this morning is that we have the Chinese rate surge on the policy tightening fears," said Alvin Tan, a strategist at Societe Generale in London.

  • *Willing to cooperate with Kurdistan on shared blocks. MOSUL, Iraq, Oct 23- Iraq's northwest Nineveh province has started talks with oil companies and is drafting terms to attract investment in its significant oil and gas reserves, steps certain to antagonise the central government.

  • *Argentina plans to challenge decision at WTO. BRUSSELS, Oct 23- European Union member states agreed to impose punitive duties on biodiesel imported from Argentina and Indonesia, which are accused of selling it into the bloc at unfairly low prices, according to diplomats.

  • *Dollar index touches close to 9- mth low, euro/dlr sets 2- yr high Euro index at 2 year peak, could bother European policymakers. LONDON, Oct 23- The dollar struggled near a nine month low versus a basket of currencies on Wednesday after U.S. jobs data prompted investors to all but rule out the chances of a cut in U.S monetary stimulus before next year.

  • In 2010 the Kuwait Investment Authority paid 600 million euros for a 4.8 percent stake in French nuclear group Areva. The utility announced on Monday that an EDF-led consortium would build two Areva- designed reactors in the UK.

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