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Latest Business News Wires - Business Headlines

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  • Nov 2- Berkshire Hathaway Inc, the conglomerate run by billionaire Warren Buffett, on Friday said its third-quarter profit rose as strength in the railroad and utility businesses, as well as investment gains, offset weaker results in the insurance units.

  • Nov 2- MetLife Inc, the largest U.S. life insurer, said it will sell MetLife Bank's mortgage servicing portfolio to a unit of JPMorgan Chase& Co for an undisclosed amount, as it looks to exit its bank holding structure.

  • *Sale is for $500 million, person close to the deal says. Nov 2- Warren Buffett's Berkshire Hathaway Inc said it would buy Oriental Trading Co, a toy and party supplies company that is partially owned by private equity firm KKR& Co LP, for an undisclosed sum.

  • Nov 2- The number of filling stations in New York City, Long Island and New Jersey that were operating after Hurricane Sandy rose slightly on Friday, updated AAA data showed. ``We have seen some stations open as power is restored, but other stations have closed after running out of gas.

  • Nov 2- Canadian construction and engineering company SNC Lavalin Group Inc, under investigations for alleged bribery, on Fr iday reported a narrower-than-expected 8 percent decline in third-quarter profit, and its shares rose nearly 5 percent.

  • Nov 2- U.S. utilities restored power on Friday to about a million East Coast homes and businesses plunged into darkness by Hurricane Sandy, a slowdown from the past two days, as crews began to work on the hardest-hit areas that may take days to fix.

  • Nov 2- Warren Buffett's conglomerate Berkshire Hathaway Inc reported a larger profit for the third quarter as strength in the railroad and utility businesses, as well as investment gains, offset weaker results in the insurance units.

  • NEW YORK, Nov 2- Some 3.5 million customers in 11 states were still without power on Friday afternoon, down only slightly from 3.6 million reported earlier in the day, the U.S. Department of Energy's Office of Electricity Delivery& Energy Reliability said in a report.

  • *Cocoa rallies on Ghana supply squeeze, bucking weak trend. NEW YORK, Nov 2- Oil prices tumbled on Friday as foreign tankers were allowed to bring fuel from U.S. ports to the Northeast to ease a supply crunch after Hurricane Sandy, and metals and other key commodities fell on worries the devastation from the storm could hamper the economic recovery.

  • *Waiver lasts through Nov. 13. WASHINGTON, Nov 2- The U.S. government issued a rare waiver on Friday allowing foreign tankers in the Gulf of Mexico to supply the Northeast with fuel after Hurricane Sandy, but the extent of relief was uncertain since some ports in the region still lacked power.

  • NEW YORK, Nov 2- Some 3.5 million customers in 11 states were still without power on Friday afternoon, down only slightly from 3.6 million reported earlier in the day, the U.S. Department of Energy's Office of Electricity Delivery& Energy Reliability said in a report.

  • *US Airways carries extra fuel on flights as precaution. Nov 2- Delta Air Lines said on Friday that a key revenue measure improved in October, helped by corporate travel and cancellations in the wake of superstorm Sandy.

  • Nov 2- U.S. regulators on Friday approved expanded use of Johnson& Johnson's Xarelto blood thinner to treat blood clots in the legs and lungs and to reduce the risk of such clots recurring after initial treatment.

  • While power outages continue to keep some gasoline stations and oil terminals shut, the efforts could put an end to the unwelcome revival of one of the 1970 s less fashionable trends in New York: infuriatingly long lines for gasoline.

  • Tree damage is plaguing many homeowners and businesses after Sandy blasted through the Northeast, inflicting much of her damage on New York, New Jersey and Connecticut. As of Friday morning, New York City, received more than 6,700 calls for downed trees, according to the Joint Information Center at the Office of Emergency Management.

  • Nov 2- The health of the U.S. economy has been central to the campaign for the White House, with both President Barack Obama and Republican challenger Mitt Romney seeking to convince voters they have a plan to usher in faster growth and job creation.

  • NEW YORK, Nov 2- Prices for long-dated U.S. But investors were also looking to next Tuesday's election, in which President Barack Obama and Republican Mitt Romney will square off. Treasury strategy at RBS Securities in Stamford, Connecticut, that momentum seems to have slowed.

  • WASHINGTON, Nov 2- Europe's financial crisis remains the biggest hurdle to global economic recovery and will be in focus at a meeting of world finance chiefs in Mexico City this weekend, a senior U.S.

  • *Jones Act shipping waivers to ease East Coast fuel crunch. NEW YORK, Nov 2- Crude oil and gasoline futures fell more than 2 percent on Friday after Washington issued a waiver allowing foreign tankers to bring fuel to the East Coast from U.S. ports, holding out some promise of relief from supply disruptions caused by superstorm Sandy.

  • Nov 2- Alan Murray is leaving the Wall Street Journal to assume the role of president of the Pew Research Center, effective in January, the center announced on Fr iday. As part of the Washington- based Pew Charitable Trusts, the non-partisan Pew Research Center's mission is to inform the press, public and policy makers. Dow Jones and News Corp declined to comment.