Latest Business News Wires - Business Headlines


  • LONDON, Nov 1- Brent crude oil futures fell to around $108.40 a barrel on Thursday as investors assessed the aftermath of super storm Sandy, while U.S. futures gained on the back of larger than expected crude oil stock draws and U.S. manufacturing data.

  • Nov 1- Estée Lauder Cos Inc scaled back the top end of its full-year forecast for sales Thursday amid uncertainty in some key markets, and said it expects poor demand in Europe to persist. While sales growth was strong in the United States and China, Europe was a drag in the last quarter, with France, Spain, Russia and Switzerland showing declines.

  • CoCos seen as acquired taste as Barclays opens door Thursday, 1 Nov 2012 | 4:03 PM ET

    LONDON, Nov 1- After several false starts, Barclays is optimistic it can sell a debt instrument that bolsters capital at times of trouble and could clear a path for European rivals to follow. ``I have no doubt that Barclays can get one away- because there are lots of sovereign wealth funds and hedge funds who will love this.

  • *Warnaco shares rise nearly 39 percent. Oct 31- Clothing maker PVH Corp will unite Calvin Klein underwear, jeans and sportswear lines under one roof in a $2.8 billion deal to buy rival Warnaco Group Inc, the latest move in the consolidation of the apparel manufacturing industry.

  • Nov 1- Printing services provider RR Donnelley& Sons Co, which mistakenly filed Google Inc's earnings report ahead of schedule two weeks ago, said it has put measures in place to prevent any such incidents in the future.

  • Survey: Small business lending slows in September Thursday, 1 Nov 2012 | 3:57 PM ET

    NEW YORK-- Small business owners borrowed less during September, a sign that they're still not confident enough to invest heavily in their businesses. The Thomson Reuters/ PayNet Small Business Lending index fell to 94.1 in September from a revised 108.9 in August.

  • Nov 1- About 4.7 million homes and businesses in 12 U.S. states remained without power early Thursday as utilities scrambled to restore service disrupted by Hurricane Sandy, U.S. Department of Energy data showed.

  • Husky says oil sands project on budget and schedule Thursday, 1 Nov 2012 | 3:54 PM ET

    CALGARY, Alberta, Nov 1- Husky Energy Inc expects no cost overrun or delay at its C $2.5 billion Sunrise oil sands project in Alberta, despite a tightening labor supply and growing industry-wide inflation, Chief Executive Asim Ghosh said on Thursday. ``We have a reasonable handle on where we are.

  • *Joe Hinrichs moves to head of the Americas. Nov 1- Ford Motor Co promoted long-time executive Mark Fields to chief operating officer as part of a management shuffle announced on Thursday that keeps Alan Mulally as chief executive for at least two more years.

  • Chesapeake arranging $2 billion loan Thursday, 1 Nov 2012 | 3:44 PM ET

    OKLAHOMA CITY-- Chesapeake Energy Corp. said Thursday that it arranged a new $2 billion loan to help repay some existing loan and credit facilities. Chesapeake said last month that it will sell off vast portions of its land and infrastructure in Texas in a series of deals worth roughly $7 billion.

  • Dollar up as US consumer confidence rises Thursday, 1 Nov 2012 | 3:40 PM ET

    The euro fell to $1.2939 in late trading Thursday from $1.2962 late Wednesday. The British pound fell to $1.6125 from $1.6130. The dollar rose to 80.18 Japanese yen from 79.76 Japanese yen and to 0.9321 Swiss franc from 0.9313 Swiss franc.

  • *Jobless claims and ADP jobs growth stronger than expected. NEW YORK, Nov 1- U.S. stocks climbed 1 percent on Thursday after both weekly jobless claims and data on growth in private-sector jobs pointed to improving labor market conditions a day before the government's closely watched monthly jobs report.

  • SAN FRANCISCO, Nov 1- Apple Inc's new iPad mini includes a display from South Korea's Samsung Electronics Co Ltd, a key supplier but also the Silicon Valley tech giant's fiercest rival in a global mobile-device war.

  • PSEG says Sandy causes damage to transmission system Thursday, 1 Nov 2012 | 3:31 PM ET

    Nov 1- New Jersey power company Public Service Enterprise Group Inc CEO Ralph Izzo said on Thursday that Hurricane Sandy's tidal surge caused significant damage to the electric transmission system and some switching stations.

  • *Ford October sales edge up; Toyota's up 16 pct. DETROIT, Nov 1- General Motors Co and Chrysler Group LLC both reported their strongest U.S. sales for the month of October since the financial crisis sent both U.S. automakers into bankruptcy, but the destruction of storm Sandy will cause the sector to miss overall sales expectations.

  • LONDON, Nov 1- Robusta coffee futures rose on Thursday from a six-month low the previous day as harvest progress picked up in top world producer Vietnam, where a second consecutive bumper crop is expected.

  • Nov 1- Marathon Petroleum Corp reported a better-than-expected quarterly profit on Thursday due in part to asset sales, though earnings slipped in the company's core refining unit. For the third quarter, the company posted net income of $1.22 billion, or $3.59 per share, compared with $1.13 billion, or $3.16 per share, in the year-earlier period.

  • *Jobless claims and ADP jobs growth stronger than expected. NEW YORK, Nov 1- U.S. stocks climbed 1 percent on Thursday after both weekly jobless claims and data on growth in private-sector jobs pointed to improving labor market conditions a day before the government's closely watched monthly jobs report.

  • *Company hopes to cut costs by $400 million/ yr within 3 years. Nov 1- Avon Products Inc slashed its dividend by nearly 74 percent on Thursday and announced measures to cut hundreds of millions of dollars in costs in the next few years as its new chief executive officer continues to work on a turnaround.

  • NEW YORK, Nov 1- NEW YORK, Nov 1-. U.S. stocks opened higher and China's stock markets rose after official and private China PMI manufacturing surveys for October suggested China's economy is finally regaining traction.

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