Latest Business News Wires - Business Headlines


  • WASHINGTON, Oct 1- Growth in U.S. factory activity slowed more than expected in September even as private sector job growth accelerated, signs of an uneven expansion in the U.S. economy. The Institute for Supply Management said on Wednesday its index of national factory activity dropped to 56.6 last month, its lowest level since June.

  • WASHINGTON, Oct 1- Fighting the Ebola epidemic means confronting the issue of inequality, as people in poor countries have less access to knowledge and infrastructure for treating the sick and containing the deadly virus, the head of the World Bank said.

  • NEW YORK, Oct 1- Investors in U.S.-based mutual funds committed a net $831 million to bond funds in the week ended Sept. 24 on continued appetite for tax-free municipal debt, data from the Investment Company Institute showed on Wednesday. "This is just a yield-chasing play," said David Keeble, global head of fixed income strategy at Credit Agricole in New York.

  • MILFORD, Mich., Oct 1- General Motors Co said on Wednesday it expects in 2016 to ring up its first profit in Europe in more than a decade and that it will also hit targeted North American operating margins that year. The projections came two days after its smaller rival, Ford Motor Co, disappointed investors with its financial outlook.

  • *Sberbank move follows VTB lawsuit against Mechel. MOSCOW, Oct 1- State-run Russian lender Sberbank filed a lawsuit against debt-laden Mechel on Wednesday, erasing earlier gains in the coal and steel producer's shares.

  • Foreign banks resist losses on Spanish motorway rescue Wednesday, 1 Oct 2014 | 11:00 AM ET

    *Cash-strapped Spain reluctant to take on bulk of loans. MADRID, Oct 1- Foreign banks are dragging out a 2.3 billion euro rescue plan for bankrupt Spanish motorways, seeking better terms to recoup more of the money they lent the nine toll road companies, three sources said.

  • DUBAI, Oct 1- The International Cotton Association said it is introducing mediation services to help resolve disputes over reneged contracts that have blocked hundreds of blacklisted firms from doing business.

  • U.S. gasoline stocks lowest in 23 months Wednesday, 1 Oct 2014 | 10:55 AM ET

    NEW YORK, Oct 1- U.S. gasoline stocks hit 208.5 million barrels last week, their lowest levels since November 2012, according to weekly data from the U.S. Energy Information Administration on Wednesday.

  • TREASURIES-Yields fall as US manufacturing growth slows Wednesday, 1 Oct 2014 | 10:54 AM ET

    *Weak Asia, Europe data adds bid for German, US debt. NEW YORK, Oct 1- U.S. Treasuries prices rose on Wednesday after U.S. manufacturing growth unexpectedly slowed, adding to earlier concerns about faltering global growth after Europe and Asia saw worsening factory activity.

  • Oct 1- Shares of Vivint Solar Inc, the second-largest installer of residential solar panels in the United States, rose as much as 9 percent in their market debut on the New York Stock Exchange, valuing the company at about $1.84 billion.

  • WASHINGTON, Oct 1- U.S. construction spending unexpectedly fell in August, hit by weaker private spending outside the housing sector and a pullback in public investments.

  • Oct 1- A federal appeals court on Wednesday rejected Ford Motor Co's bid to recoup about $450 million of interest from the U.S. government on taxes that the automaker overpaid.

  • ADVISORY-Construction spending story withdrawn Wednesday, 1 Oct 2014 | 10:43 AM ET

    WASHINGTON, Oct 1- Please be advised the story "U.S. construction spending hits highest level in 5-1/ 2 years" is an out-of-date story and was published in error.

  • *Says China joint ventures planning to invest $14 billion from 2014 to 2018 to open five new assembly plants. *Says to launch 60 new or refreshed vehicles in china, including 9 new suvs, from 2014 to 2018. *Says expects China joint ventures to maintain net income margins in 9 to 10 percent range.

  • *BRENT CRUDE OIL FUTURES RISE $1 AFTER EIA REPORT Wednesday, 1 Oct 2014 | 10:39 AM ET
  • *GM says to introduce 9 new models in next five years in china. *GM says targeting auto liquidity of $30 billion to $35 billion. *GM says no planned near-term material discretionary contributions to pension plans.

  • Oct 1- Ardelyx Inc said its experimental drug to treat constipation-related irritable bowel syndrome achieved the main goal of increasing bowel movement compared with a placebo in a mid-stage study involving 371 patients.

  • Oct 1- The New York Times Co said on Wednesday it would cut jobs to lower costs and invest the savings in its "digital future" as advertising revenue from its print business dwindles, sending the company's shares up 7 percent.

  • *General Motors Co says to achieve 10 percent operating margins in north america in 2016. *Says expects to achieve overall operating profit margins of 9 to 10 percent by early next decade. *Says to return to profits in europe in 2016.

  • *GM says expects "marginal loss" in South America in 2014. *GM says expects "significant loss" in its international operations not including china in 2014, but in line or slightly better than plan. *GM says long-term margin objective in South America remains mid-single digits.