Latest Business News Wires - Business Headlines


  • MIAMI, Oct 24- The 2013 Atlantic hurricane season looks set to go down as a big washout, marking the first time in 45 years that the strongest storm to form was just a minor Category 1 hurricane. Apart from Tropical Storm Andrea, which soaked Florida after moving ashore in the Panhandle in June, none of this year's cyclones has made a U.S. landfall.

  • BUENOS AIRES, Oct 24- Argentina's legislative elections on Sunday will serve as a starting line for the race to succeed President Cristina Fernandez in 2015, with her support in Congress too low for allies to push through constitutional changes to allow her to run again.

  • Oct 24- Diamond Offshore Drilling Inc posted a higher-than-expected quarterly profit, but delays in getting rigs out of the shipyard weighed on its prospects for 2014, and its stock fell 3 percent.

  • The No. 2 U.S. automaker now expects 2013 pretax profit to top last year's $8 billion and losses in Europe to be less than they were in 2012. Chief Financial Officer Bob Shanks said Ford sees the European unit being profitable in 2015..

  • *Delivery fleet seeks to beat Lagos traffic. BERLIN, Oct 24- The online retailer Jumia, a would-be African Amazon, is betting that it can propel the continent's rising middle class consumers out of the street markets and straight onto its websites, missing out the department stores and shopping malls in between.

  • LONDON, Oct 24- European shares climbed back towards five-year highs on Thursday thanks to a clutch of strong corporate results and encouraging manufacturing data from top metals consumer China.

  • Oct 24- Billionaire investor Carl Icahn fired his latest salvo at Apple Inc Chief Executive Tim Cook on Thursday, urging the iPhone maker again to initiate a $150 billion buyback through a tender offer- but pledging to keep his own stock out of it.

  • Oct 24- Boston Scientific Corp, which is in the midst of an attempted turnaround, reported weak sales of its heart stents and provided a disappointing fourth-quarter company sales forecast, sending its shares almost 7 percent lower on Thursday.

  • Oct 24- Bank of America Corp said on Thursday that it was cutting 1,200 to 1,300 mortgage jobs because of declines in refinancing activity and an improvement in its portfolio of delinquent home loans. The newspaper also said Bank of America was looking to cut 3,000 mortgage jobs by the end of the year.

  • LONDON, Oct 24- Mints saw sales of gold coins like the American Eagle drop in the third quarter as retail investors lost faith in the metal's recovery and turned to assets promising better returns, such as buoyant equities.

  • *Primark, Loblaw pay 3 months' wages to workers, families. DHAKA, Oct 24- British clothes retailer Primark and Canadian grocer Loblaw laid out plans on Thursday to pay more compensation for the collapse of a Bangladeshi factory that killed almost 1,130 people, as protesters demanded other brands follow suit.

  • Oct 24- Dow Chemical Co said it now expects to raise between $3 billion and $4 billion from asset sales in the next 18 to 24 months, at least double its earlier target, as it looks to shed businesses exposed to commodity price swings.

  • Oct 24- Dunkin' Brands Group Inc reported a jump in quarterly net income Thursday, but profit slightly missed analyst expectations and the company said 2013 earnings would take a hit from a writedown relating to its business in Spain.

  • Last August, China fined six companies, including Mead Johnson, a total of $110 million following an investigation into price-fixing and anti-competitive practices by foreign makers of baby formula. Strong volume growth in China and Hong Kong accounted for most of the company's rise in profit. "I think some of it's China.

  • *Ford rallies after results; AT&T, Dow Chemical lower. NEW YORK, Oct 24- U.S. stocks edged higher on Thursday, continuing the market's recent upward trend as expectations for steady accommodative monetary policy for the foreseeable future offset a mixed batch of earnings and economic data.

  • FOREX-Euro gains as bearish dollar sentiment persists Thursday, 24 Oct 2013 | 12:01 PM ET

    NEW YORK, Oct 24- The euro rose to a fresh two-year peak against the dollar on Thursday as concerns about the outlook for the U.S. economy and monetary policy outweighed weaker euro zone data.

  • WASHINGTON, Oct 24- Raytheon Co on Thursday joined other U.S. arms makers in reporting higher-than-expected quarterly earnings and raising full-year forecasts, saying it expected to maintain strong margins and cash flow in 2014 despite an expected drop in sales.

  • MEXICO CITY/ MONTERREY, Oct 24- Mexico's Cemex, one of the world's biggest cement companies, reported a wider-than-expected quarterly loss on Thursday as taxes increased, but sales picked up, especially in the United States, sparking a nearly 4 percent jump in its shares.

  • Peugeot job pact shows France's new labour detente Thursday, 24 Oct 2013 | 11:54 AM ET

    *Peugeot unions ink deal on wage, work-time concessions. PARIS, Oct 24- Unions at France's PSA Peugeot Citroen agreed on Thursday to freeze wages next year in return for a company pledge to keep plants open, the latest sign of easier labour relations in a nation famed for strikes.

  • *Fire at Lemont, Illinois refinery boosts gasoline. NEW YORK, Oct 24- U.S. oil futures fell on Thursday for the fourth straight session, weighed down by rising inventories while gasoline futures got a boost from a refinery fire in Illinois.

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