Latest Business News Wires - Business Headlines


  • BEIJING, Nov 2- Honda Motor Co Ltd's China car sales plunged 54 percent in October from a year earlier, marking the second monthly sales slump as Japanese automakers continue to suffer the backlash from a territorial dispute between Beijing and Tokyo.

  • *Fall through $1,710 to $1,712/ oz level triggers selling. SINGAPORE, Nov 2- Gold edged down towards $1,700 an ounce on Friday, after a fall through an important support level triggered some stop-loss selling as investors anxiously await a key U.S. labour market report.

  • TOKYO, Nov 2- Asian shares advanced to their highest in nearly two weeks with risk appetite returning on signs that a trend of global recovery is stabilising, particularly in the United States and China. European shares were also seen subdued, with financial spreadbetters expecting London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX to open little changed.

  • Nikkei rises on hopes for U.S. economic recovery Friday, 2 Nov 2012 | 6:06 AM ET

    TOKYO, Nov 2- Japan's Nikkei share average climbed to a one-week high on Friday as global cyclical shares like carmakers rose on improved U.S. economic data. The Nikkei rose 1.2 percent to 9,051.22, ending above the 9,000 mark for the first time in a week. The broader Topix index also added 1.2 percent to 752.09.

  • HONG KONG, Nov 2- Hong Kong shares jumped to their highest level in 15 months on Friday, as fund inflows into the Chinese territory buoyed hopes of further gains leading into the year's end and encouraged investors to build riskier positions.

  • CANBERRA, Nov 2- The closure of Australia's Autodom Ltd, a top Australian auto parts supplier, could shut down production at local units of Ford and General Motors by next week and executives are working frantically to save the company.

  • New Zealand carbon scheme on hold as prices plunge Friday, 2 Nov 2012 | 5:41 AM ET

    *New Zealand carbon prices plummet. WELLINGTON, Nov 2- Just two years after expanding a scheme that was feted as the world's only emissions trading scheme outside of Europe, New Zealand has effectively put the scheme on hold, just as other nations step into the carbon trading arena.

  • PBOC slows yuan rise with weaker fix for second day Friday, 2 Nov 2012 | 5:23 AM ET

    *China cenbank intervention stems yuan rise, traders say. SHANGHAI, Nov 2- China's central bank tightened its grip on yuan appreciation with a second straight weaker midpoint fixing on Friday, pushing the yuan slightly lower, but traders said demand for the currency remained robust. The People's Bank of China has kept the midpoint virtually flat since Oct. 17.

  • *Sony shares gain 3 pct after rise in quarterly profit. TOKYO/ HONG KONG, Nov 2- Shares of Japan's Sharp Corp fell on Friday as worries about the TV and display maker's future deepened a day after it warned of a $5.6 billion net loss for this year and said it might not be able to survive on its own.

  • *Residents of hard-hit Staten Island complain of being ignored. NEW YORK, Nov 2- From New York City's Staten Island to the popular beach towns of the Jersey Shore, rescuers and officials on Friday faced growing evidence of widespread destruction wrought by superstorm Sandy, mounting anger over delayed relief and a rising death toll.

  • SAN FRANCISCO, Nov 1- Two weeks before trial in a high-stakes lawsuit pitting Google's Motorola Mobility unit against Microsoft, Google made what has become a common request for a tech company fighting for billions of dollars: a public court proceeding conducted largely in secret.

  • SINGAPORE, Nov 2- Brent crude slipped below $108 a barrel on Friday as investors look ahead to key jobs data from the United States for more signs of economic recovery, which would boost fuel demand.

  • PRECIOUS-Gold edges down ahead of US jobs data Friday, 2 Nov 2012 | 4:03 AM ET

    *Spot gold may fall to $1,698.39/ oz- technicals.

  • WASHINGTON, Nov 2- The U.S. unemployment rate probably rose in October as employers stepped up hiring only slightly, underscoring President Barack Obama's vulnerability in next week's presidential election.

  • Nov 1- Newmont Mining Corp, the world's second-largest gold producer, reported a lower-than-expected quarterly profit after a steep fall in production and a sharp rise in costs at its big Batu Hijau copper and gold mine in Indonesia.

  • US Oct. jobs report likely to show modest hiring Friday, 2 Nov 2012 | 3:02 AM ET

    Any increase in the rate would mean that President Barack Obama would face voters with the highest unemployment rate of any incumbent since Franklin Roosevelt. In 1976, President Gerald Ford lost to Jimmy Carter when unemployment was 7.8 percent.

  • Oil prices fall amid subdued demand after storm Friday, 2 Nov 2012 | 1:28 AM ET

    BANGKOK-- Expectations that demand for crude would likely be subdued in the aftermath of the massive storm that slammed into the U.S. East Coast earlier this week caused oil prices to sag on Friday. Benchmark crude for December delivery fell 28 cents at midday Bangkok time to $86.81 per barrel in electronic trading on the New York Mercantile Exchange.

  • *Citigroup, Deutsche Bank, HSBC, JPMorgan Chase top list. *G20 finance ministers meet in Mexico this weekend. Nov 1- Citigroup Inc, Deutsche Bank, HSBC and JPMorgan Chase& Co will need to hold the most extra capital of 28 banks considered so large and complex they need an extra buffer to absorb potential losses, global regulators said on Thursday.

  • SINGAPORE, Nov 2- Gold traded little changed on Friday, remaining on track to snap three weeks of losses, with investors waiting for a key U.S. employment report later in the day for further clues on the health of the world's top economy. *Spot gold was little changed at $1,715.59 an ounce by 0026 GMT, on course for a slight weekly rise of 0.3 percent.

  • Nov 1- Professional social network LinkedIn Corp topped Wall Street's third-quarter profit and revenue targets, as advertising rates increased and sales from its hiring services nearly doubled.

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