Latest Business News Wires - Business Headlines


  • NEW YORK, Oct 29- Most families would not fail to invite their sons- and daughters-in-law to Thanksgiving dinner, but a discussion of the family inheritance is another matter. "It's almost like an' aha' moment when they start to think about estate planning," says Roger Hobby, president of Wilmington Trust's northeast division.

  • *Sees no instruments ECB could use to soften euro. Oct 29- There is no reason for the European Central Bank to intervene and weaken the euro's exchange rate, which is weighing on some euro zone economies, ECB Governing Council member Ewald Nowotny told news agency MNI on Tuesday.

  • *IBM climbs on buyback, dividend announcement. Federal Reserve will keep its stimulus measures intact for several months, while gains in Pfizer and IBM helped the Dow.

  • CHICAGO, Oct 29- Archer Daniels Midland Co said on Tuesday its planned A $3.0 billion acquisition of Australian grain handler GrainCorp Ltd will likely be delayed until early next year. The GrainCorp acquisition is part of ADM's strategy to expand globally and lead to increased exports to China and the Middle East.

  • BUENOS AIRES, Oct 29- Argentina's supreme court on Tuesday ruled as constitutional clauses of a law that will require media conglomerate Grupo Clarin to divest some of its units. The ruling will likely come as a relief for President Cristina Fernandez's government, only a few short days after swallowing the bitter pill of a setback in midterm elections.

  • UPDATE 6-Oil drops on Libyan export resumption hopes Tuesday, 29 Oct 2013 | 12:16 PM ET

    NEW YORK, Oct 29- Brent oil fell on Tuesday, giving back some of the previous session's sharp gains, on expectations that recent disruptions in exports from OPEC member Libya could be short-lived. Brent rose 2.5 percent on Monday as reports of Libya's worst civil unrest since the civil war in 2011 fueled concerns over global oil supplies.

  • Bob Goodlatte, a Virginia Republican who chairs the House Judiciary Committee, aims to increase transparency and accountability in the patent litigation system.

  • WRAPUP 3-European banks pay heavy price for scandals Tuesday, 29 Oct 2013 | 12:14 PM ET

    *Deutsche Bank, Lloyds profits hit by legal provisions. AMSTERDAM/ ZURICH, Oct 29- Four European banks paid a heavy price on Tuesday in a clean-up of the financial industry, with Rabobank fined $1 billion and three other major lenders preparing for possibly huge legal costs after a string of scandals.

  • Oct 29- Aetna Inc on Tuesday missed analysts' expectations for third-quarter profit and said 2014 would be challenging because of the uncertain costs of the health reform law and cuts in government funding for private Medicare plans. Aetna cut its exchange footprint in the summer, pulling out of Maryland, New York and New Jersey among other states.

  • NEW YORK, Oct 29- The New York Post and its top editor must face a bias lawsuit brought by a woman who said she was fired for complaining about harassment at the newspaper and a political cartoon that some people said likened President Barack Obama to a chimpanzee.

  • Oct 29- Sporting goods maker Adidas AG has signed on to a pact to promote the safety of garment workers in Bangladesh, a shareholder activist group said on Tuesday.

  • NEW YORK, Oct 29- The dollar climbed for a third straight session against a basket of the world's most actively traded currencies on Tuesday as investors, convinced the Federal Reserve will keep U.S. monetary policy ultra-loose well into next year, trimmed bearish bets.

  • DETROIT, Oct 29- The U.S. government has booked a loss of $9.7 billion on the nearly $50 billion bailout of U.S. automaker General Motors Co, according to a quarterly report to Congress on Tuesday. Treasury extended $49.5 billion in loans to GM in exchange for $2.1 billion in preferred stock and a 60.8 percent equity stake.

  • Fitch says too soon for top rating on SFR deals Tuesday, 29 Oct 2013 | 11:59 AM ET

    NEW YORK, Oct 29- Fitch said Tuesday that it will not consider giving its highest AAA rating to securitized products based on single-family rentals, as the first such deal gets ready to come to market. Deutsche Bank, Credit Suisse and JP Morgan will be pitching the deal at investor meetings in New York, Boston, and Los Angeles this week.

  • Oct 29- Businessman Mitch Goldstone planned to shell out about $40 at the Red Square restaurant in Las Vegas before heading to a show, but he ended up spending four times that amount because of the alluring pictures of food and drinks on an electronic menu.

  • Marilyn Tavenner, administrator of the U.S. Centers for Medicare and Medicaid Services, said the website faces "complex technical issues" four weeks after it opened for enrollment. House of Representatives Ways& Means Committee is the Obama administration's first formal statement to Congress about the challenges facing Healthcare.gov.

  • Dell seals $24.9 bln buyout, delisting Tuesday Tuesday, 29 Oct 2013 | 11:44 AM ET

    SAN FRANCISCO, Oct 29- Dell Inc will delist from the Nasdaq at the close of Tuesday's trading, as founder Michael Dell and private equity house Silver Lake complete their controversial $24.9 billion buyout of the struggling PC maker.

  • *Brent dips, holds near $109 as Libyan output stays low. NEW YORK, Oct 29- The S&P 500 hit a record on Tuesday, leading global shares higher ahead of a Federal Reserve meeting on the future of its stimulus program, while the euro neared a two-year high against the U.S. dollar.

  • LONDON, Oct 29- Gold held below a five-week high on Tuesday as the dollar edged up and investors started to factor in expectations the U.S. U.S. gold futures for December delivery fell by $1.10 an ounce to $1,350.71.

  • Oct 29- Activist investor Starboard Value LP asked TriQuint Semiconductor Inc to consider selling or restructuring its mobile power amplifier business, which it says is dragging down the radio frequency chipmaker's share price.

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