Latest Business News Wires - Business Headlines


  • *Fed to buy $1.25 bln- $1.75 bln bonds due 2036-2043. NEW YORK, Oct 24- U.S. "What we've been seeing since the government shutdown and debt ceiling was resolved is a desire to jump back into Treasuries," said Jason Rogan, managing director in Treasuries trading at Guggenheim Partners in New York.

  • *California backlog continues to influence data. WASHINGTON, Oct 24- The number of Americans filing new claims for unemployment benefits fell less than expected last week, but a lingering backlog of applications in California makes it difficult to get a good read of labor market conditions.

  • *Claims fall less than expected as California backlog continues. NEW YORK, Oct 24- U.S. stocks were poised for a modestly higher open on Thursday, indicating the S&P 500 will rebound from its first decline in the last six sessions, as investors grappled with a host of corporate earnings and muddled economic data.

  • Oct 24- Goldcorp Inc reported a big drop in third-quarter profit on Thursday as the price of gold declined, and the miner said first production at its Cerro Negro project in Argentina would be delayed. Goldcorp's net earnings fell to $5 million, or 1 cent a share, from $498 million, or 61 cents, a year earlier.

  • Oct 24- Dow Chemical Co reported lower-than-expected quarterly results due to weak earnings at its performance materials unit and said it expects to raise $3 billion to $4 billion from asset sales. Dow Chemical shares fell nearly 4 percent in premarket.

  • Sept 24- Privately held power generator Competitive Power Ventures started construction on the $845 million Woodbridge natural gas-fired power plant in New Jersey on Wednesday.

  • Madrid airport drags on Spain's Aena sale effort Thursday, 24 Oct 2013 | 9:07 AM ET

    Traffic to Barajas airport has dropped as Spain's economic crisis cut domestic tourism and business travel. Investment bank Lazard and Spain's N +1 brokerage are helping with a search for investors for a public launch of at least 49 percent of Aena, which operates 46 Spanish airports and London's Luton, and has stakes in 14 Latin American airports.

  • CHICAGO, Oct 24- United Continental Holdings Inc, which owns United Airlines, missed quarterly profit estimates on Thursday as the airline still struggled to consolidate itself nearly three years after a merger that created the world's biggest airline.

  • WASHINGTON, Oct 24- U.S. weapons maker Raytheon Co on Thursday reported higher-than-expected quarterly earnings and raised its full-year forecast, and it cited prospects for landing several big foreign orders later this year.

  • Oct 24- Celgene Corp raised its earnings forecast for 2013 on Thursday after reporting slightly higher-than-expected quarterly profit on robust sales of its flagship blood cancer drug Revlimid and solid growth in newer cancer treatments.

  • NEW YORK, Oct 24- U.S. manufacturing grew at its slowest pace in a year this month and factory output contracted for the first time since late 2009, an industry report showed on Thursday. Manufacturing Purchasing Managers Index fell to 51.1, the lowest since October 2012, from 52.8 in September.

  • Oct 24- Mead Johnson Nutrition Co, the maker of Enfamil baby formula, reported a 15 percent increase in quarterly profit on Thursday and raised its full-year earnings forecast, largely due to strong sales in China and Hong Kong.

  • MEXICO CITY, Oct 24- Latin America's biggest Coke bottler, Coca-Cola Femsa, said on Thursday third-quarter profit fell 17 percent despite higher revenue as it spent more on marketing as well as labor and freight costs.

  • SINGAPORE, Oct 24- Singapore's central bank said it was ready to assist in investigations into alleged manipulation of foreign exchange rates, potentially widening a probe in the $5.3 trillion- a-day FX market that already involves authorities in the United States, Britain, Switzerland and Hong Kong.

  • *Fourth quarter adjusted earnings C $0.31/ shr vs est C $0.37/ shr. Oct 24- Canada's Corus Entertainment Inc reported that its profit nearly halved in the fourth quarter as a rise in TV subscribers and merchandising revenue failed to offset the weakness in its radio business.

  • Oct 24- Rigel Pharmaceuticals Inc said it would stop the development of its drug to treat skin lesions in patients with discoid lupus, a chronic skin disease, after the treatment failed a mid-stage trial. British drugmaker AstraZeneca stopped developing Rigel's rheumatoid arthritis treatment, fostamatinib, in June, which it licensed from Rigel in 2010..

  • Oct 24- International Paper Co said on Thursday its quarterly profit rose 61 percent, helped by strong sales of corrugated packaging for shipping boxes. For the third quarter, the company posted net income of $382 million, or 85 cents per share, compared with $237 million, or 54 cents per share, in the year-ago period. Revenue rose 5 percent to $7.41 billion.

  • Oct 24- Canadian oil producers Cenovus Energy Inc and Husky Energy Inc said their refining margins were hurt as the price difference between crude oil and the petroleum products extracted from it narrowed sharply.

  • U.S. trade deficit widens slightly on weak exports Thursday, 24 Oct 2013 | 8:32 AM ET

    WASHINGTON, Oct 24- The U.S. trade deficit widened slightly in August as exports slipped, suggesting trade will probably not be much of a boost to growth in the third quarter. The Commerce Department said on Thursday the trade gap nudged up 0.4 percent to $38.8 billion.

  • WASHINGTON, Oct 24- The number of Americans filing new claims for unemployment benefits fell less than expected last week as California continued to process a backlog of applications caused by computer problems. Initial claims for state unemployment benefits fell 12,000 to a seasonally adjusted 350,000, the Labor Department said on Thursday.

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