Latest Business News Wires - Business Headlines


  • OTTAWA, Oct 29- Canada expects to maintain real economic growth of at least 2 percent through 2017, but lower commodity prices will cause government revenues to be a little lower than expected, Finance Minister Jim Flaherty said on Monday.

  • NEW YORK, Oct 29- More than two-thirds of the U.S. East Coast's refining capacity shut on Monday ahead of Hurricane Sandy, sending gasoline futures up as much as 4 percent as operators braced for potentially damaging power outages and flooding.

  • The nuclear reactors in Sandy's current path include units at Public Service Enterprise Group Inc's 2,332- megawatt Salem and 1,161- MW Hope Creek plants in New Jersey, which were likely to bear the brunt of the storm before it moves inland.

  • CHICAGO, Oct 29- U.S. soybean futures fell nearly 2 percent on Monday, the biggest daily slide in two weeks, on long liquidation tied to improving weather outlooks in top producer Brazil and concerns about Hurricane Sandy's impact on the U.S. financial sector.

  • NEW YORK, Oct 29- U.S. stock index futures fell in a shortened session on Monday and cash equity trading was canceled as powerful Hurricane Sandy bore down on the U.S. East Coast while renewed uncertainty in Europe hurt sentiment.

  • LONDON, Oct 29- Palladium is heading for its biggest one-month drop since May in October as a weak demand picture for the autocatalyst metal reins in gains made on the back of U.S. monetary stimulus and a sharply higher platinum price.

  • *Burger King 3rd- quarter sales fall 26 pct. Oct 29- Burger King Worldwide Inc reported a better-than-expected profit on Monday as new items on the fast-food chain's menu and accompanying advertising campaigns helped boost same-restaurant sales in the United States and Canada.

  • *New York, Philadelphia, Washington, Boston in its path. NEW YORK/ REHOBOTH BEACH, Del., Oct 29- Hurricane Sandy began battering the U.S. East Coast on Monday with fierce winds and driving rain, as the monster storm shut down transportation, shuttered businesses and sent thousands scrambling for higher ground hours before the worst was due to strike.

  • WASHINGTON, Oct 29- U.S. consumer spending rose solidly in September, putting the economy on a firmer footing heading into the fourth quarter even though households had to pull back on saving to fund purchases.

  • US bond market closed on Tuesday for Sandy Monday, 29 Oct 2012 | 3:14 PM ET

    NEW YORK, Oct 29- The Securities Industry and Financial Markets Association recommended on Monday that the U.S. bond market stay closed on Tuesday Oct. 30 due to Hurricane Sandy.

  • BRUSSELS, Oct 29- EU antitrust regulators have told trader Glencore to offer concessions in its zinc operations to ease concerns about its planned $33 billion buy of miner Xstrata, a person familiar with the matter said on Monday.

  • NEW YORK, Oct 29- New York Governor Andrew Cuomo said two key tunnels connecting Manhattan to New Jersey and Brooklyn would be closed later on Monday ahead of Hurricane Sandy. Cuomo said the Holland Tunnel, which opened in 1927 and remains one of the main connections between New Jersey and New York City, would close as a precaution at 2 p.m..

  • LONDON, Oct 29- Ex-trader Kweku Adoboli said on Monday that others at UBS, including senior executive Carsten Kengeter, had influenced his trading in the summer of 2011, when he took positions that eventually cost the Swiss bank $2.3 billion.

  • BRUSSELS, Oct 29- EU antitrust regulators have told trader Glencore to offer concessions to ease concerns about its planned takeover of miner Xstrata, especially the combined group's large share of the zinc market, a person familiar with the matter said on Monday.

  • BMW to recall 7 Series for transmission flaw Monday, 29 Oct 2012 | 2:28 PM ET

    Oct 29- Bayerische Motoren Werke AG's BMW of North America affiliate said it will recall 45,500 of its 7 Series luxury sedans from model years 2005-2008 to correct a flaw that could cause a parked vehicle to roll away.

  • --Martha Stewart Living Omnimedia Inc rescheduled third-quarter results to Nov. 1 from Oct. 30. --Vertex Pharmaceuticals Inc rescheduled third-quarter 2012 earnings and conference call to after markets close on Nov. 1 from Oct. 29. --The McGraw-Hill Companies Inc rescheduled third-quarter earnings and conference call to Nov. 2 from Oct. 31.

  • LONDON, 29- Britain's Pearson and Germany's Bertelsmann are to merge their publishing units, Penguin and Random House, to recover ground lost to technology groups Amazon and Apple, the leaders in the ebook revolution.

  • MUMBAI, Oct 29- Essar Energy plans to refinance up to $1.5 billion worth of its rupee debt overseas within six months, its chief executive said on Monday, as the India- focused group concentrates on improving its balance sheet after a turbulent period of heavy capital spending and regulatory setbacks.

  • Oct 29- Hurricane Sandy has already knocked out power for some homes and businesses along the U.S. East Coast. The following power holding companies have utility units that reported outages on Monday.

  • WASHINGTON, Oct 29- The Supreme Court agreed on Monday to consider whether a U.S. company is entitled to a tax credit when it pays a so-called ``windfall tax'' imposed by the United Kingdom.

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