Latest Business News Wires - Business Headlines


  • NEW YORK, Oct 22- U.S. oil prices sank below $98 to their lowest in nearly four months on Tuesday, while European Brent held firm, as fears of a near-term U.S. crude surplus pushed the spread between the two oil contracts to its biggest three-day rout since early 2012..

  • Juniper quarterly profit rises nearly six-fold Tuesday, 22 Oct 2013 | 4:16 PM ET

    Oct 22- Juniper Networks Inc reported a nearly six-fold rise in quarterly profit due to a rebound in demand for network equipment from telecom service providers. Net income rose to $99 million, or 19 cents per share, in the third quarter, from $17 million, or 3 cents per share, a year earlier.

  • NEW YORK, Oct 22- As the U.S. government closes in on a $13 billion settlement with JPMorgan Chase& Co over its mortgage practices, lawyers specializing in bank mergers are looking for ways to protect their clients from big losses in similar cases in the future.

  • NEW YORK, Oct 22- Goldman Sachs Group Inc must pay some legal fees incurred by a former computer programmer accused of stealing code from the bank because his title of vice president made him a bank officer at the time, a New Jersey federal judge ruled Tuesday.

  • NEW YORK, Oct 22- U.S. stocks climbed on Tuesday, pushing the S&P 500 to yet another record high, after weaker-than-expected job creation last month reinforced expectations the Federal Reserve will hold the course on its economic stimulus into next year. The Dow Jones industrial average was up 75.78 points, or 0.49 percent, at 15,467.98.

  • *White House chooses insider for healthcare.gov problems. The HHS had said in a blog post at the weekend that it was bringing in a "tech surge" of people, but neither the White House nor HHS has provided details about the cause of the problems, precisely what is being done to fix them and who exactly is doing the fixing.

  • WASHINGTON/ NEW YORK, Oct 22- JPMorgan Chase& Co's preliminary $13 billion mortgage settlement with the U.S. government could end up costing the bank as little as $9 billion after taxes, because the majority of the deal is expected to be tax deductible, two sources said. The deduction also means the government is getting less than it appears in this deal.

  • BRASILIA, Oct 22- Brazil's state-run BNDES, the largest development lender in the Americas, is crowding out private-sector banks from corporate credit markets, and the government should phase out financial support for the bank, the Organization for Economic Co-operation and Development said on Tuesday.

  • *Full-year adjusted earnings forecast $0.95- $1.15/ share vs. est $0.96. Oct 22- Forest Laboratories Inc's new chief executive signaled strategic changes that will help the drugmaker focus on multiple new growth areas as it prepares to lose patent protection on another of its top-sellers.

  • NEW YORK, Oct 22- U.S. U.S. employers added 148,000 workers last month, the Labor Department said on Tuesday, which was fewer than the 180,000 forecast by economists. Back in May, Fed Chairman Ben Bernanke said the central bank might consider tapering its $85 billion monthly purchases of Treasuries and mortgage-backed securities late this year.

  • WASHINGTON, Oct 22- The Obama administration is turning to top economic adviser, Jeffrey Zients, to manage the government's repair of its troubled new health care website.

  • Chrysler begins Jeep Cherokee shipments after delay Tuesday, 22 Oct 2013 | 3:02 PM ET

    DETROIT, Oct 22- Chrysler Group LLC said on Tuesday it began shipping a key model for the company, the Jeep Cherokee, that had been delayed by about two months.

  • WOLFSBURG, Germany, Oct 22- Volkswagen AG's top labor leader still wants workers at the company's plant in Tennessee to have German-style representation, an arrangement that would require the involvement of a U.S. trade union such as the United Auto Workers.

  • Oct 22- U.S. companies borrowed less to spend on capital investment last month, the Equipment Leasing and Finance Association said. Washington- based ELFA, a trade association that keeps track of economic activity for the $725 billion equipment finance sector, said credit approvals totaled 77.3 percent in September, down from 79.1 the previous month.

  • COLUMN-This is Dimon's job: James Saft Tuesday, 22 Oct 2013 | 3:00 PM ET

    Oct 22- There is no contradiction: Jamie Dimon remains at JP Morgan not despite it being in line for a record $13 billion fine, but because of what that fine demonstrates.

  • India, U.S. dig in against EU air carbon charge Tuesday, 22 Oct 2013 | 2:59 PM ET

    WASHINGTON/ NEW DELHI, Oct 22- India voiced firm opposition on Tuesday to EU plans to impose a scaled-back carbon charge on flights over European airspace while a senior U.S. lawmaker said the EU proposal runs afoul of a law intended to shield U.S. airlines from such charges.

  • NEW YORK, Oct 22- Most U.S. primary dealers polled by Reuters on Tuesday believe the Federal Reserve will not start cutting its monthly bond purchases until March of next year and said the recent government shutdown and standoff over raising the U.S. debt ceiling had a significant impact on the Fed's timing.

  • WASHINGTON, Oct 22- The U.S. derivatives regulator is considering dropping its appeal to defend a rule that would severely limit Wall Street's ability to speculate with commodities, a senior official at the agency said.

  • SAC to shutter London office in downsizing move Tuesday, 22 Oct 2013 | 2:45 PM ET
    Steven A. Cohen

    SAC Capital Advisors will shut down its London office by the end of the year as the hedge fund downsizes, according to a memo sent to staff on Tuesday.

  • NEW YORK/ LONDON, Oct 22- Gold rose over 2 percent to three-week highs on Tuesday as weak U.S. jobs figures raised expectations the Federal Reserve will continue into next year its massive stimulus program that has bolstered bullion prices.

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