Latest Business News Wires - Business Headlines


  • WASHINGTON, Oct 29- As Hurricane Sandy bears down on the U.S. East Coast little more than a week before the presidential election, President Barack Obama's fortunes may in part depend on how well a former volunteer firefighter from Florida does his job.

  • The nuclear reactors in Sandy's current path include units at Public Service Enterprise Group Inc's 2,332- megawatt Salem and 1,161- MW Hope Creek plants in New Jersey, which were likely to bear the brunt of the storm before it moves inland.

  • SAN FRANCISCO, Oct 29- A handful of individual super-donors, business groups and unions have poured more than $350 million into California ballot initiatives ahead of the Nov. 6 election, underscoring the extent to which the state's system of ``direct democracy'' has morphed into a big-money battleground.

  • NEW YORK, Oct 29- The supply of gasoline, diesel and jet fuel into the U.S. East Coast ground almost to a halt on Monday as Hurricane Sandy forced the closure of two-thirds of the region's refineries, its biggest pipeline, and most major ports.

  • LANCASTER, England, Oct 29- Britain's construction sector, the main drag on the economy so far this year, should improve soon, Bank of England policymaker Ben Broadbent said on Monday. According to official data, Britain endured its second recession in four years between October 2011 and June 2012, when construction output slumped.

  • Oct 29- Hurricane Sandy brought wind and rain to the streets of New York City on Monday, but on Wall Street, it also brought a day of eerie, almost unsettling calm. Steve Gerbel, who runs hedge fund Chicago Capital Management, said that, when he called a Goldman trading desk on Monday, he got to talk to employees from its Salt Lake City office for the first time.

  • NEW YORK, Oct 29- Commodities fell broadly on Monday after a powerful storm lashed the U.S. East Coast, closing down Wall Street and whittling investor activity across financial markets. The U.S. currency ran up as the euro fell on uncertainties on whether Greece could agree to a deal on austerity and whether Spain would request for aid.

  • CHICAGO, Oct 29- U.S. soybean futures fell 2.2 percent on Monday, their biggest daily slide in almost a month, due to crop-friendly weather forecasts for top producer Brazil and concerns about Hurricane Sandy's impact on the U.S. financial sector.

  • *UPS, FedEx widely viewed as economic bellwethers. The world's largest package delivery company, and rival FedEx Corp, are closely watched for indications of consumer demand, the health of retailers and the state of the economy.

  • Oct 29- Hurricane Sandy is moving toward Cape May, New Jersey, the U.S. National Hurricane Center said on Monday.

  • NEW YORK, Oct 29- U.S. gasoline futures rallied while benchmark crude oil prices dipped on Monday as Hurricane Sandy slowed East Coast fuel deliveries to a crawl, with major refineries shut, pipelines idle and ports closed.

  • WRAPUP 3-Hurricane Sandy lashes U.S. East Coast Monday, 29 Oct 2012 | 8:05 PM ET

    *New York, Philadelphia and Washington in its path. NEW YORK/ REHOBOTH BEACH, Del., Oct 29- Hurricane Sandy, one of the biggest storms ever to hit the United States, battered the densely populated East Coast on Monday, shutting down transportation, forcing evacuations in flood-prone areas and interrupting the presidential election campaign.

  • Global regulators probe how banks tot up risks Monday, 29 Oct 2012 | 8:00 PM ET

    LONDON, Oct 29- Global banking regulators are investigating why banks use such a wide variety of ways to assess risk amid fears the current method for calculating capital safety cushions is not safe and is being gamed.

  • ANALYSIS-Euro zone ponders best path to "GEMU" Monday, 29 Oct 2012 | 8:00 PM ET

    PARIS, Oct 29- In the rich lexicon of Brussels acronyms, a new treasure has entered the vocabulary since June: GEMU. It stands for Genuine Economic and Monetary Union, a term used in the conclusions of the last two European Union summits in a tacit acknowledgement that the single currency created by the 1992 Maastricht Treaty was flawed and woefully incomplete.

  • Oct 29- New York City officials ordered occupants of buildings near the site of a partially collapsed construction crane to evacuate the upper floors of those buildings on Monday as rescue officials fear the crane could crash to the ground.

  • NEW YORK, Oct 29- U.S. gasoline and heating oil futures gained while U.S. U.S. stock and bond markets will be closed on Tuesday, but the two-largest U.S. stock exchange operators, NYSE Euronext and Nasdaq OMX Group, intend to reopen Wednesday, conditions permitting.

  • *GM brands all gain; Toyota sweeps top three. DETROIT, Oct 29- Ford Motor Co tumbled to nearly the bottom of an annual survey of vehicle reliability due to flaws in its touch-screen navigation and entertainment system, while Japanese automaker Toyota Motor Corp swept the top three spots.

  • NEW YORK, Oct 29- U.S. stock index futures fell in a shortened session on Monday and cash equity trading was canceled as powerful Hurricane Sandy bore down on the U.S. East Coast, closing equity trading for Tuesday.

  • *Chrysler sees Q4 net income of about $210 million. DETROIT, Oct 29- Chrysler Group LLC posted an 80 percent rise in quarterly net income on Monday on stronger new vehicle sales, continuing the U.S. automaker's comeback from its 2009 bankruptcy. Chrysler, majority owned by Italy's Fiat SpA, also reaffirmed its outlook for the year.

  • Oct 29- U.S. stock and bond markets will be closed on Tuesday, as Hurricane Sandy forced Wall Street to shut down trading for at least a second straight day. NYSE Euronext and Nasdaq OMX Group said they made their decision in consultation with industry executives and regulators, and intend to reopen Wednesday, conditions permitting.

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