Latest Business News Wires - Business Headlines


  • Oct 30- The exit of Apple Inc's longtime mobile software products chief may be a surprise, but a band of able executives led by Tim Cook and a bigger role for design boss Jonathan Ive meant the company was in good hands, analysts said on Tuesday.

  • Spain becomes net diesel exporter as its demand slumps Tuesday, 30 Oct 2012 | 3:40 PM ET

    *Spain has invested $5 bln in refinery upgrades. MADRID, Oct 30- Spain has become a net diesel exporter for the first time on record this year as demand has collapsed at home and major refinery upgrades have boosted production capacity, the country's strategic oil reserves corporation said.

  • *Boeing sees up to $27 bln in Russian titanium buying. MOSCOW, Oct 30- Boeing Co will sell 35 of its 737 MAX airliners to an aircraft leasing arm of Russian Technologies in a deal worth $3.5 billion, the companies said on Tuesday.

  • Oct 30- Fidelity Investments, which has one of the largest U.S. online brokerages, told retail customers that it expects U.S. markets to open Wednesday for normal trading.

  • FACTBOX- A look at South African platinum production Tuesday, 30 Oct 2012 | 3:30 PM ET

    Oct 30- Here is a look at platinum production in South Africa as strike-hit South African miner Lonmin, the world's third-largest platinum producer, plans to raise $800 million from its investors to help slash debt. In 2012 South Africa was gripped by its worst labour unrest in decades following a violent strike that broke out at Lonmin's Marikana mine in August.

  • WASHINGTON, Oct 30- The U.S. home vacancy rate, which measures empty properties and those for sale, fell to the lowest level in seven years in the third quarter as demand for housing picked up and economic pressures eased.

  • Accused UBS rogue trader: "I lost control" Tuesday, 30 Oct 2012 | 3:22 PM ET

    LONDON, Oct 30- Former UBS trader Kweku Adoboli told a London court on Tuesday he had ``lost control'' of his trading in the summer of 2011 but insisted he never acted dishonestly in the frantic weeks that resulted in losses of $2.3 billion.

  • Oct 30- U.S. East Coast electric companies say outages from Hurricane Sandy so far have hit more than 8.1 million homes and businesses, the U.S. Department of Energy said in a report early on Tuesday.

  • *Navistar aims to save up to $175 mln next year. NEW YORK, Oct 29- U.S. truck and engine maker Navistar International Corp is willing to look at the possible sale of any part of its business as it tries to return to profitability, but it is not willing to consider fire-sale prices for its assets, interim Chief Executive Lewis Campbell said on Monday.

  • Oct 30- U.S. East Coast electric companies say outages from Hurricane Sandy so far have hit more than 8.1 million homes and businesses, the U.S. Department of Energy said in a report early on Tuesday.

  • LONDON, Oct 30- World shares rose modestly in subdued trading on Tuesday as investors waited to see the full impact of a massive storm that wrought destruction across the eastern United States.

  • *NYSE, Nasdaq OMX testing trading systems on Tuesday. Oct 30- U.S. stock exchanges are looking at opening on Wednesday after monster storm Sandy receded from New York, sources said, and the New York Stock Exchange is testing a new plan to help resume trading. Plans to resume trading will be complicated by the lingering effect of the storm on New York.

  • NEW YORK, Oct 30- The biggest U.S. East Coast refinery in Philadelphia began restoring production after Hurricane Sandy on Tuesday and a smaller nearby plant operated without trouble as energy firms began assessing the storm's damage.

  • *Storm forces two-thirds of U.S. East Coast refineries to shut. LONDON, Oct 30- Brent crude fell towards $109 on Tuesday on concerns about weak demand from the U.S. East Coast in the aftermath of storm Sandy, that swept through the area shutting refineries, roads and airports.

  • Spanish banks sap profits with "desperate" price war Tuesday, 30 Oct 2012 | 2:52 PM ET

    MADRID, Oct 30- A new price war among Spain's banks risks destroying already eroded profit margins by offering depositors ever higher interest rates to win new customers, in a desperate battle for capital they can't get elsewhere.

  • MILAN, Oct 30- Fiat downshifted its full-year forecasts to the lower end of its range on Tuesday and said net debt would overshoot a previous target by as much as one billion euros in the face of a persistently weak European car market.

  • Investors take measure of market mood to stay ahead Tuesday, 30 Oct 2012 | 2:44 PM ET

    *Data from Twitter, Facebook used in investment models. LONDON, Oct 30- After a year in which investors have sometimes appeared to change their view of an entire market on a whim, gauges of market mood are gaining prominence alongside more traditional measures of stock price valuation.

  • NICOSIA, Oct 30- Cyprus may struggle to pay public sector salaries in December unless a bailout deal is clinched by mid-November, an official document quoted Finance Minister Vassos Shiarly as saying.

  • LONDON, Oct 30- India is emerging as the unknown factor for Asia's iron ore market in 2013, which otherwise looks to be in a fair balance between supply and demand. It's also likely that China will account for the bulk of growth in seaborne iron ore demand, with recession-plagued Europe expected to be steady at best and modest growth likely from the rest of the world.

  • JERUSALEM, Oct 30- Israel's surprise rate cut appears to have come from a confluence of a rising shekel meeting a weakening economy. The cut was particularly surprising given that the Bank of Israel had expressed concern over rising housing prices, according to the minutes of its September 24 rates decision.

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