Latest Business News Wires - Business Headlines


  • LIMA, Nov 2- Peru's constitutional court plans to require the government to finally honor land reform bonds it issued 40 years ago but in most cases never paid, a ruling that could be worth billions of dollars to bondholders in Peru and abroad.

  • WASHINGTON, Nov 2- The contentious U.S.- China trade relationship has been a major issue in the U.S. race for the White House, with President Barack Obama defending his record and Republican challenger Mitt Romney promising tougher tactics if elected.

  • Stocks sink as investors assess Sandy's damage Friday, 2 Nov 2012 | 4:13 PM ET

    Stocks are ending sharply lower on Wall Street as investors assess the potential costs of Superstorm Sandy. AIG fell 7 percent, Genworth Financial 3 percent and Hartford Financial Services Group lost 3 percent. Two stocks fell for every one that rose on the New York Stock Exchange.

  • NEW YORK, Nov 2- The miles-long lines of New York area motorists scrambling for gasoline showed no signs of abating on Friday, with ``panic buying'' gripping the storm-hit area even as pipelines and oil tankers began to resume bulk shipments.

  • WASHINGTON, Nov 2- U.S. employers stepped up hiring in October and the jobless rate ticked higher as more workers restarted job hunts, a hopeful sign for a lackluster economy that has been a drag on President Barack Obama's re-election chances. Employers added 171,000 people to their payrolls last month, the Labor Department said on Friday.

  • Industry data published on Friday showed that France incurred its 12th straight monthly decline in new car registrations, while demand in Spain continued to plummet.

  • *Adjusted EPS $1.33 vs. analyst estimate $1.30. Nov 2- The McGraw-Hill Cos Inc reported a 14 percent decline in third-quarter profits as a rebound in new bond issues needing credit ratings failed to make up for corporate restructuring costs and weak demand for educational texts.

  • NEW YORK, Nov 2- Global stocks and crude oil slipped on Friday even after a U.S. employment report for October surpassed expectations, as investors looked beyond next week's presidential election to the looming ``fiscal cliff.''.

  • LONDON, Nov 2- Gold prices fell to their lowest level since late August on Friday, sliding more than 1 percent as the dollar jumped after better-than-expected U.S. jobs data in the last major signal on the state of the economy before elections next Tuesday. Spot gold was down 1.8 percent at $1,684.36 at 1509 GMT, having earlier hit an eight-week low of $1,682.89.

  • UPDATE 2-Ralph Lauren profit beats as sales hold up Friday, 2 Nov 2012 | 3:55 PM ET

    Nov 2- Clothing company Ralph Lauren Corp reported higher-than-expected quarterly earnings on Friday as revenue held up despite growing anxiety about luxury sales. Without the impact of store closings in China and the discontinuation of Ralph Lauren's low-priced American Living brand, revenue would have risen 3 percent, the company said.

  • WASHINGTON, Nov 2- Orthofix International NV has agreed to pay $30 million to settle allegations that it paid illegal kickbacks to physicians, the U.S. Justice Department said on Friday.

  • WASHINGTON, Nov 2- An encouraging October jobs report may give President Barack Obama an 11th- hour campaign boost, but perhaps more importantly it denies Republican challenger Mitt Romney an opportunity to put an exclamation point on his argument that Obama has failed to turn around the economy.

  • OTTAWA, Nov 2- Canadian job growth stalled in October after two months of strong hiring, Statistics Canada data showed on Friday, confirming expectations employment gains would ease to reflect sluggish economic growth. The underlying details are still fairly positive,'' said David Tulk, chief Canada macro strategist at TD Securities.

  • Nov 2- Hyundai Motor Co and its affiliate Kia Motors Corp overstated the gasoline mileage for more than 1 million 2011-2013 model year cars in the United States and Canada, and will offer debit cards to customers to make up the difference.

  • *Global drugmakers worried by India's tough stance. MUMBAI/ LONDON, Nov 2- India dealt a fresh blow to the international pharmaceutical industry on Friday as its patents appeal board revoked a patent granted six years ago on Roche's hepatitis C drug Pegasys.

  • *Starbucks raises outlook, U.S. sales beat expectation. NEW YORK, Nov 2- U.S. stocks edged lower on Friday, erasing earlier gains spurred by a stronger-than-expected payroll report, as they were pressured by weakness in energy and materials shares.

  • PARIS, Nov 2- Telecom equipment maker Alcatel-Lucent may sell assets to strengthen its balance sheet after posting a second straight quarterly loss as its customers around the world cut spending on mobile and fixed networks.

  • Nov 2- Hess Corp's quarterly profit nearly doubled as production from the Bakken oil field rose and the company resumed operations in Libya. And despite Hurricane Sandy, Hess said it had opened 177 of its 186 gas stations in New York City, Long Island and New Jersey, after the company arranged for 85 electrical generators before the storm arrived.

  • Nov 2- Canadian construction and engineering company SNC Lavalin Group Inc, under investigations for alleged bribery, reported on Friday a narrower-than-expected 8 percent decline in third-quarter profit, and its shares rose more than 4 percent.

  • LONDON, Nov 2- Robusta coffee futures on Liffe eased on Friday but prices held above a six-month low set earlier this week as the focus remained on Vietnam's crop which is expected to be large but slightly below last season. January robusta coffee futures fell $5 or 0.3 percent to $1,979 a tonne at 1510 GMT.