Latest Business News Wires - Business Headlines


  • *Gold at one-month high on hopes Fed to keep stimulus. NEW YORK/ LONDON, Oct 24- Gold rose 1 percent on Thursday, breaking above $1,350 an ounce for the first time in more than a month, on rekindled buying prompted by expectations the Federal Reserve will continue its monetary stimulus due to disappointing U.S. jobless claims data.

  • Western Digital profit beats as enterprise sales rise Thursday, 24 Oct 2013 | 4:37 PM ET

    Oct 24- Western Digital Corp, the world's No.1 hard-disk drive maker, reported a quarterly profit that beat market estimates as it sold more higher-margin products to enterprise customers. Net income fell to $495 million, or $2.05 per share, in the quarter ended Sept. 27 from $519 million, or $2.06 per share, a year earlier. Analysts had expected $2.05 per share.

  • Puerto Rico sales-tax debt rallies, could spur issuance Thursday, 24 Oct 2013 | 4:35 PM ET

    Oct 24- Puerto Rico's beaten-down debt is rallying, and the Caribbean island's sales-tax bonds now sport yields that could be low enough to entice government finance officials to sell new bonds. Puerto Rico's $70 billion of municipal bonds are widely held by mutual funds dedicated to tax-free debt.

  • UPDATE 1-Amazon Q3 sales top Wall Street expectations Thursday, 24 Oct 2013 | 4:32 PM ET

    Oct 24- Amazon.com Inc posted better-than-expected sales on Thursday as the company expanded aggressively and made inroads into overseas markets, sending its shares 5 percent higher.

  • Macau casinos boost Wynn Resorts revenue Thursday, 24 Oct 2013 | 4:32 PM ET

    Oct 24- Wynn Resorts Ltd reported a 7 percent rise in quarterly revenue as gamblers flocked to its casinos in Macau. Revenue at Wynn's Macau casinos rose about 10 percent to $997.6 million in the third quarter, accounting for more than 70 percent of the company's total revenue.

  • Oct 24- Two groups with particular reason to be grateful about the Federal Reserve's never-never taper are the people at Blackstone and Pinterest.

  • SAN FRANCISCO, Oct 24- Chip equipment maker KLA-Tencor Corp reported on Thursday fiscal first-quarter revenue that met expectations as contract manufacturers investing in new technology partly offset a slow PC industry. KLA-Tencor reported net income of $111 million, or 66 cents a share, compared with $135 million, or 80 cents a share, in the year-ago quarter.

  • UPDATE 1-Microsoft profit up 17 percent, shares jump Thursday, 24 Oct 2013 | 4:24 PM ET

    SEATTLE, Oct 24- Microsoft Corp said its fiscal first-quarter profit rose a greater-than-expected 17 percent, as strong sales of its Office and server software to businesses offset weakness in its flagship Windows system.

  • UPDATE 1-Twitter prices IPO at $17 to $20 a share Thursday, 24 Oct 2013 | 4:24 PM ET

    SAN FRANCISCO, Oct 24- Twitter said on Thursday that it intends to sell 70 million shares priced between $17 and $20 in an initial public offering that will value the company at as much as $10.9 billion. Twitter said it planned to raise between $1.25 billion and $1.44 billion in the offering, according to an amended version of its prospectus filed on Thursday.

  • Qlik quarterly revenue misses estimates, shares fall Thursday, 24 Oct 2013 | 4:23 PM ET

    Oct 24- Data analytics software maker Qlik Technologies Inc reported lower-than-expected quarterly revenue due to weakness in Europe and the Asia Pacific region, sending its shares down 13 percent in extended trading. The company's net profit rose to $3 million, or 3 cents per share in the third quarter, from $151,000 a year earlier.

  • Twitter prices IPO at $17 to $20 a share Thursday, 24 Oct 2013 | 4:14 PM ET

    SAN FRANCISCO, Oct 24- Twitter said on Thursday that it intends to sell 70 million shares priced between $17 and $20 in an initial public offering that will value the company at as much as $10.9 billion.

  • Amazon Q3 sales top Wall Street expectations Thursday, 24 Oct 2013 | 4:11 PM ET

    Oct 24- Amazon.com Inc reported another quarterly net loss, but better-than-expected sales on Thursday as the company expands aggressively into overseas markets. The world's largest retailer posted revenue of $17.1 billion in the third quarter, up from $13.8 billion a year earlier. Analysts had expected it to post sales of $16.8 billion on average.

  • NEW YORK, Oct 24- U.S. stocks resumed their move up on Thursday as economic data underscored views U.S. monetary stimulus will be in place for the foreseeable future and earnings offered some upbeat news. The Dow Jones industrial average was up 95.23 points, or 0.62 percent, at 15,508.56. The Nasdaq Composite Index was up 21.89 points, or 0.56 percent, at 3,928.96.

  • UNITED NATIONS, Oct 24- An eight-year-old U.N. embargo has failed to stop the illicit production and trafficking of Ivory Coast rough diamonds that are continuously being smuggled out of the West African country and could be funding illegal arms purchases, U.N. experts say.

  • WASHINGTON, Oct 24- U.S. lenders will get at least six months' notice before the government reduces the limit on the size of loans that taxpayer-owned Fannie Mae and Freddie Mac can back, the firms' regulator said on Thursday. The housing finance industry had expected officials to lower the limits on Fannie Mae and Freddie Mac- backed loans on Jan. 1.

  • NEW YORK, Oct 24- NQ Mobile Inc shares plummeted on Thursday, their biggest daily decline ever, after the noted short seller Muddy Waters Research Group called the company a "massive fraud," charges the company said it "rejects as false."

  • China and Europe make up after averting trade war Thursday, 24 Oct 2013 | 3:54 PM ET

    BRUSSELS, Oct 24- China and the European Union sought to mend ties on Thursday after narrowly avoiding a trade war this year, but the EU's trade chief told Beijing to stop handing out state subsidies that Brussels says are illegal.

  • WASHINGTON, Oct 24- A new round of U.S. budget negotiations starting next week should focus more narrowly on replacing automatic spending cuts rather than attempt to reach an elusive "grand bargain," House Budget Committee Chairman Paul Ryan said on Thursday.

  • *Euro hits 2- year peak of $1.3825, but may struggle to gain further. NEW YORK, Oct 24- The dollar fell to a two-year low against the euro on Thursday on expectations the U.S. "Regarding the U.S. dollar, we recently moved to a small short position," said Vassilis Dagioglu, head of asset allocation portfolio management at Mellon Capital in San Francisco.

  • *China's factories expand at best pace in seven months. Boosting investors' appetite for risky assets was data showing growth in China's vast factory sector reached a seven-month high this month, easing concerns about a slowdown in Chinese exports, which would point to weakening global demand.

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