Latest Business News Wires - Business Headlines


  • Nov 6- More than 953,000 homes and businesses along the U.S. East Coast remained without power on Tuesday, eight days after Hurricane Sandy slammed into the region. Sandy made landfall in New Jersey on the night of Oct. 29. Power companies said the storm affected about 8.48 million customers, according to a U.S. Department of Energy report.

  • *Robusta hits lowest level since March, Vietnam crop weighs. LONDON, Nov 6- Robusta coffee futures on Liffe fell to an eight-month low on Tuesday with the market weighed by the prospect of a large harvest in Vietnam while ICE arabica coffee turned higher after setting a 4-1/ 2 month low during the prior session.

  • World needs $700 bln in power grid upgrades Tuesday, 6 Nov 2012 | 1:00 PM ET

    *France plans to invest some 15 bln euros by 2020.

  • SAO PAULO, Nov 6- Brazil's government would not meet its primary fiscal surplus goal this year without resorting to an accounting maneuver, Finance Minister Guido Mantega said in an interview published Tuesday.

  • LISBON, Nov 6- Portugal will take many years to fully reduce its budget deficit, its finance minister acknowledged on Tuesday, adding that the IMF and World Bank were close to concluding an evaluation of further spending cuts.

  • Emerson quarterly net profit declines 63 pct Tuesday, 6 Nov 2012 | 11:51 AM ET

    Nov 6- U.S. industrial conglomerate Emerson Electric Co reported a sharply lower quarterly net profit on Tuesday, reflecting a goodwill charge in its network power business, and said it expected earnings to grow by at least a single-digit percentage rate in fiscal 2013..

  • SAO PAULO, Nov 6- Brazil's government would not meet its primary fiscal surplus goal this year without resorting to an accounting maneuver, Finance Minister Guido Mantega said in an interview published Tuesday.

  • HONG KONG, Nov 6- China is expected to soon resume stockpiling of some base metals, including copper and aluminium, buying them from domestic smelters hurt by weak demand, industry sources said on Tuesday.

  • *NYSE Euronext costs fall $82 mln year-to-date. NYSE Euronext said on Tuesday it smashed its 2012 cost cut target of $63 million by taking out $82 million of expenses, a third of the $250 million the exchange has pledged to cut by 2014..

  • LONDON, Nov 6- Security firm G4S, whose reputation was tarnished earlier this year by its failure to provide enough guards for the London Olympic Games, said it was fighting back thanks to strong emerging markets and new UK contracts.

  • Polls indicate the race between President Barack Obama and Republican challenger Mitt Romney will be very close with the risk of a change in fiscal and monetary policy in the world's largest economy keeping investors on the sidelines.

  • PRECIOUS-Gold hovers near 9-week low; eyes U.S. vote Tuesday, 6 Nov 2012 | 11:27 AM ET

    LONDON, Nov 6- Gold steadied near a nine-week low on Tuesday as investors assessed potential policy impact from the neck-and-neck U.S. presidential election, while a strike in Greece to protest austerity cuts also kept sentiment cautious. Spot gold rose 0.36 percent to $1,690.30 by 1127 GMT, but stayed close to Monday's nine-week low of $1,672.24.

  • UPDATE 4-Oil steadies around $108 as U.S. votes Tuesday, 6 Nov 2012 | 11:20 AM ET

    *Greece funding deal unlikely next week- source. LONDON, Nov 6- Brent crude held around $108 per barrel on Tuesday, as uncertainty ahead of the U.S. elections and renewed worries about Greece and the euro zone crisis headed traders' concerns.

  • FRANKFURT, Nov 6- The European Central Bank is set to leave interest rates unchanged on Thursday, deferring a cut in borrowing costs that would risk undermining the impact of Mario Draghi's signature policy a year into his ECB presidency.

  • LONDON, Nov 6- London's financial sector will lay off 13,000 staff in 2013 after a weak year for dealmaking, a study forecast on Tuesday, slashing employment in one of the UK's key economic motors to its lowest since the early 1990 s.

  • *Europe's big economies see no improvement going into Q4. *Ireland, Italy represent few bright spots. LONDON, Nov 6- The fourth quarter has so far brought no improvement in the fortunes of most of Europe's economies, which now risk shrinking more than previously expected, surveys showed on Tuesday.

  • UPDATE 1-France acts to bolster industry Tuesday, 6 Nov 2012 | 10:34 AM ET

    PARIS, Nov 6- France's Socialist government unveiled measures to bolster the struggling industrial sector and make exporters more competitive but Tuesday's package fell short of the shock therapy industry leaders are urging.

  • Chief Executive Norbert Reithofer said conditions were weakening, after the German company posted a 14 percent rise in third-quarter profit on Tuesday that beat analysts' forecasts.

  • NY: Postal delivery returns to the Rockaways Tuesday, 6 Nov 2012 | 10:21 AM ET

    NEW YORK-- Postal officials have announced that letter carriers from Inwood, Arverne, Rockaway Beach, Rockaway Park and Breezy Point will attempt to make deliveries in the Rockaways.

  • *China spot copper demand still sluggish. Worries about a fiscal cliff in the U.S., an upcoming leadership transition in China and Greece's strike over a new austerity package also kept sentiment in check.