Latest Business News Wires - Business Headlines


  • ADVISORY-Reuters Business News Schedule at 1330 GMT Monday, 29 Oct 2012 | 4:05 PM ET

    The Rome insight story slugged ITALY- CHAOS scheduled to move at 1500 GMT will not now move today.

  • *Greek banks to face 9 pct Core Tier 1 capital requirement. ATHENS, Oct 29- Greek banks will have to issue shares to meet more than half of a 9 percent capital adequacy requirement to be set as part of their recapitalisation, sources said, in a move that could help them avoid nationalisation.

  • NEW YORK, Oct 29- The euro fell against the dollar and yen on Monday, hurt by uncertainty over whether Greece can agree to a deal on austerity and with no sign of when Spain might request aid. Near-bankrupt Greece needs a comprehensive deal on an austerity package to unlock its next tranche of aid before it runs out of cash in mid-November.

  • *Gazprom seeks to focus more on Asia, diversify from Europe. NOVO-OGARYOVO, Russia, Oct 29- Russia's Gazprom pledged more than $38 billion to develop an East Siberian gas field and build a pipeline to the Pacific port of Vladivostok to lessen its reliance on exports to Europe and develop Asian markets.

  • *U.S. East Coast refineries shutting ahead of hurricane. NEW YORK, Oct 29- U.S. gasoline futures jumped as much as 4 percent while benchmark Brent crude was little changed on Monday as over two-thirds of the East Coast refining sector shut down ahead of Hurricane Sandy.

  • *Euro falls on worries over Greece, Spain. The euro was down slightly versus the dollar, hurt by uncertainty over whether Greece can agree to a deal on austerity and with no sign of when Spain might request aid.

  • NEW YORK, Oct 29- U.S. equity markets are unlikely to open on Tuesday as Hurricane Sandy bears down on the New York area, a senior exchange official at one of the major exchanges told Reuters on Monday.

  • NEW YORK, Oct 29- U.S. Treasury debt prices rose on Monday as a perceived gain in political risks in Italy and concerns about the strength of the U.S. economic recovery fueled safe-haven buying in thin trade as Hurricane Sandy was on track to pummel the U.S. East Coast.

  • 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..

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