Latest Business News Wires - Business Headlines


  • NEW YORK, Nov 4- About 1.9 million homes and businesses remained in the dark on Sunday as the pressure mounted on power providers to restore electricity to areas hit hardest by Hurricane Sandy nearly a week ago. In New York, utilities came under increasing pressure to restore heat and light to some 650,000 customers.

  • NEW YORK, Nov 4- The American Red Cross said on Sunday it regrets not responding sooner to areas on the U.S. East Coast hardest hit by superstorm Sandy and is working aggressively to distribute food, water and other supplies to victims across New York and New Jersey. The delay in relief response from the Red Cross has been widely criticized by politicians.

  • NEW YORK, Nov 4- Almost 200,000 suburban New York City commuters, most in New Jersey, face another work week without easy rail connections because of storm damage so severe that experts say it will take months before full service can be restored. Hurricane Sandy severed train connections for an estimated 435,000 daily commuters in the New York City suburbs.

  • MEXICO CITY, Nov 4- The world's biggest economies will soon discuss how to punish countries that fail to implement tougher new bank rules in a crucial test of their resolve to prevent another financial crisis, officials said.

  • FOREX-US dollar in favour as market eyes election Sunday, 4 Nov 2012 | 10:46 PM ET

    *Polls show race for White House remains close. SYDNEY, Nov 5- The U.S. dollar hovered around two-month highs against a basket of major currencies in Asia on Monday as investors sought the safe-haven currency given uncertainty surrounding the U.S. presidential election. Polls show the race for the White House remained close before Tuesday's election.

  • BUSINESS-NEWS-SCHEDULE AT 2230 GMT / 530 PM EST Sunday, 4 Nov 2012 | 10:43 PM ET

    NEW YORK- With freezing temperatures forecast, tens of thousands of people hit by superstorm Sandy need temporary housing, but New York officials say it is not immediately clear where they could all be sheltered.

  • Drugmakers offer to cap Greece's medicines bill Sunday, 4 Nov 2012 | 10:37 PM ET

    The move follows growing concerns about the situation in Greece, where the government last month took the highly unusual step of suspending all drug exports from the country in an attempt to prevent shortages.

  • CAIRO, Nov 4- The international mediator on Syria, Lakhdar Brahimi, called on Sunday for world powers to issue a U.N. Security Council resolution based on a deal they reached in June to set up a transitional government in a bid to end the bloodshed.

  • NEW YORK, Nov 4- Nearly 1.9 million homes and businesses in the U.S. Northeast were still without power on Sunday, barely changed from earlier in the day, nearly a week after Hurricane Sandy hit, the U.S. Department of Energy's Office of Electricity Delivery& Energy Reliability said in a report.

  • NEW YORK, Nov 4- The average U.S. price for a gallon of regular gasoline took its biggest drop since 2008 in the past two weeks, due to lower crude oil prices, a big price drop in pump prices in California and Hurricane Sandy, according to a widely followed survey released on Sunday.

  • *Fuel shortages remain in New York and New Jersey. NEW YORK, Nov 4- More fuel terminals came back online in the New York harbor network on Sunday as mainline power was restored nearly a week after super storm Sandy, but gasoline shortages persisted and some major facilities remained idle.

  • *30,000 to 40,000 will need shelter, New York mayor says. NEW YORK, Nov 4- A housing crisis loomed in New York City as victims of superstorm Sandy struggled on Sunday without heat in near-freezing temperatures, and officials fretted displaced residents would not be able to vote in Tuesday's presidential election.

  • *Seoul concerned about recent volatility of won exchange rate. MEXICO CITY, Nov 4- South Korea will not hit its 2012 GDP target of 3.3 percent growth after three slow quarters, but expects recent stimulus measures to drive a modest rebound in the fourth quarter, Finance Minister Bahk Jae- wan said on Sunday.

  • HONG KONG, Nov 5- International Lease Finance Corp, the aircraft leasing arm of American International Group Inc, has shrugged off threats from a growing number of domestic players in China, its biggest single market, saying it has the ``first mover'' advantage with over 200 planes on order.

  • The near term is always always uncertain,'' Christian Murck, president of the American Chamber of Commerce in China and independent director of J.P. Morgan Chase Ltd, told Reuters. A lighter regulatory touch on bond writing, derivatives and funding channels are seen as crucial to foreign banks' growth in China.

  • *Romney has said will declare China currency manipulator on ``day one''. Presidential candidate Mitt Romney would lack the legal power to label China a currency manipulator on his first day in office should he win Tuesday's election, offering him a way out of what experts say is the weakest claim on the issue for years.

  • JAKARTA, Nov 5- Indonesia's economy is seen growing at its slowest pace in two years in the third quarter, as the global downturn finally catches up with a country whose resilience has made it a magnet for foreign investors this year.

  • NEW YORK, Nov 4- The U.S. housing market is on the mend, but the so-called ``missing piston'' of the world's biggest economy doesn't have enough power to get the broader recovery firing on all cylinders any time soon.

  • ``Our goal is to try to get people out of the shelters,'' Napolitano said at a news conference in New Jersey with Governor Chris Christie. Earlier in the day, New York City Mayor Michael Bloomberg estimated the city needs temporary housing for as many as 40,000 city residents.

  • Toyota returns; wants time to show it's changed Sunday, 4 Nov 2012 | 8:52 PM ET

    *Toyota less likely than rivals to cut FY f'casts on China row. *Toyota shares up 20 pct YTD, easily beating Honda, Nissan. This year has seen improved sales in the United States, Toyota's biggest market, and in Southeast Asia.