Latest Business News Wires - Business Headlines


  • 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.

  • WASHINGTON, Nov 1- The federal government will cover 100 percent of emergency power and public transportation costs through Nov. 9 in eight New Jersey counties that were hit hard by Hurricane Sandy, according to the two U.S. senators representing the state. An aide to Senator Frank Lautenberg told Reuters that FEMA informed the senators of the decision.

  • NEW YORK, Nov 1- The governors of New York, New Jersey and other U.S. states said on Wednesday that insurance companies should not charge hurricane deductibles that cost tens of thousands of dollars to state homeowners who file claims for damage from Sandy because it was labeled a ``post-tropical storm'' by the time it hit land.

  • *Sources say review of CNOOC bid for Nexen set to be extended. The Conservative government has promised to present new guidelines at around the same time it announces its decision on whether to approve a $15.1 billion bid by China's state-owned CNOOC Ltd to take over oil producer Nexen Inc.

  • Chrysler Canada sales rose 3 percent in October Thursday, 1 Nov 2012 | 3:09 PM ET

    Nov 1- Chrysler Canada said on Thursday its sales in October rose 3 percent over a year before, continuing its nearly three-year run of stronger sales largely on the back of higher passenger car sales.

  • WASHINGTON, Nov 1- The International Monetary Fund said on Thursday financing issues remained the main obstacle for debt-laden Greece to receive more bailout money from its international lenders.

  • *James Murdoch re-elected with 95 pct shareholder support. LONDON, Nov 1- James Murdoch was re-elected to the board of BSkyB on Thursday, ensuring his family's media empire retains a direct influence at Britain's biggest pay-TV company despite being weakened by a phone hacking scandal.

  • Bill Barrett to sell $335M worth of gas assets Thursday, 1 Nov 2012 | 3:04 PM ET

    DENVER-- Bill Barrett Corp. said Thursday that it plans to sell some of its natural gas properties to Vanguard Natural Resources LLC for $335 million, part of the oil and gas company's strategy to sell off "lower-growth" assets it doesn't consider central to its business. It posted a loss of $52.6 million, or $1.11 per share, for the quarter.

  • LONDON, Nov 1- Gold prices held near $1,720 an ounce on Thursday as stock markets climbed, indicating better appetite for assets seen as higher risk, while investors focused on U.S. employment data due on Friday for clues on monetary policy.

  • NEW YORK, Nov 1- U.S. stocks jumped on Thursday after encouraging data in the labor market, consumer confidence and manufacturing, an improvement in the economic outlook that led investors to move away from the safe-haven dollar and government debt.

  • UPDATE 5-Oil prices ease ahead of EIA data Thursday, 1 Nov 2012 | 2:59 PM ET

    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.

  • US STOCKS SNAPSHOT - Wall St up 1 pct boosted by data Thursday, 1 Nov 2012 | 2:59 PM ET

    NEW YORK, Nov 1- U.S. stocks added to gains on Thursday, with major indexes up more than 1 percent after bullish jobs and consumer confidence data lifted sentiment. The Dow Jones industrial average gained 167.49 points, or 1.28 percent, to 13,263.95. The S&P 500 gained 15.09 points, or 1.07 percent, to 1,427.25.

  • BUSINESS-NEWS-SCHEDULE AT 1430 GMT / 1030 AM ET Thursday, 1 Nov 2012 | 2:58 PM ET

    Exxon Mobil, the world's largest publicly traded oil company, reports a lower profit that topped expectations, as higher results from its refining arm counters a 7.5 decline in oil and gas output. (EXXON-EARNINGS/ moved, by Anna Driver, 320 words).