Latest Business News Wires - Business Headlines


  • Superstorm Sandy blows gasoil bubble away Friday, 2 Nov 2012 | 1:09 PM ET

    *Stocks build in Europe as refinery maintenance ends. Middle distillates inventories, which include heating oil, diesel and jet, had been running at multi-year lows in both the United States and Europe- threatening to ramp up heating bills for households in the event of an early cold snap.

  • BOGOTA, Nov 2- Colombia's regulator said on Friday that it was taking administrative control over the country's biggest stock brokerage, Interbolsa, over a liquidity problem.

  • *LinkedIn shares jump after earnings. *S&P 500 up 7.8 pts, Dow up 32 pts, Nasdaq up 8.75 pts. S&P 500 futures rose 7.8 point and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract.

  • WASHINGTON, Nov 2- U.S. employers stepped up hiring in October, a hopeful sign for the economic recovery and potentially an 11th hour boost for President Barack Obama's bid for re-election, even though the unemployment rate rose from near four-year lows.

  • Nov 2- Ralph Lauren Corp on Friday reported lower quarterly earnings and reduced its full-year sales forecast because of its ongoing closures of locations in China and the discontinuation of its American Living brand, warning that the global economy is still threatening demand for its fashion items.

  • 7-Eleven completes purchase of Tetco assets Friday, 2 Nov 2012 | 11:57 AM ET

    DALLAS-- 7- Eleven Inc. said Friday it completed the acquisition of Tetco Inc., which runs 163 convenience stores in Texas and Utah.

  • Ally posts $384M 3Q profit on absence of charges Friday, 2 Nov 2012 | 11:57 AM ET

    NEW YORK-- Government-controlled lender Ally Financial Inc. said Friday that it posted third-quarter net income of $384 million, reversing a loss in the same quarter last year, helped by the absence of losses related to its former mortgage business.

  • UPDATE 3-RBS faces fines to settle Libor probe Friday, 2 Nov 2012 | 11:52 AM ET

    LONDON, Nov 2- Royal Bank of Scotland faces fines for its part in a global interest rate setting scandal, a matter the bank said on Friday it was keen to settle as soon as possible.

  • MOSCOW, Nov 2- Russia's oil output hit a post-Soviet high in October as a beefed-up Rosneft, soon to be the world's biggest crude supplier, dug deeper into hard-to-reach fields.

  • Penske posts stronger-than-expected profit Friday, 2 Nov 2012 | 11:49 AM ET

    Nov 2- Penske Automotive Group Inc, the No. 2 U.S. dealership group, on Friday posted a stronger-than-expected quarterly profit, helped by a 24 percent jump in retail sales of vehicles. Net income in the third quarter fell to $41 million, or 45 cents a share, compared with $55.7 million, or 61 cents a share, in the year-earlier quarter.

  • LONDON, Nov 2- European stocks flirted with two-week highs on Friday, supported by hopes a U.S. job report will reassure about the health of the world's biggest economy, opening the door to more gains.

  • Nov 2- Beam Inc posted a bigger-than-expected third-quarter profit on Friday, helped by strong demand for its bourbon, and said it still expected earnings to grow at a low double-digit percentage rate this year.

  • Nov 2- Och-Ziff Capital Management reported on Friday a higher quarterly profit which beat Wall Street's forecasts, as the investment manager paid lower taxes and cut compensation costs but earned higher performance fees on its hedge funds.

  • *AngloGold Ashanti suspends operations at S. African mine. Spot gold was at $1,709.26 at 1102 GMT, down 0.63 percent, while U.S. gold futures for December fell $5.80 to $1,709.70. ``The stronger dollar is bringing down a number of markets including gold,'' Standard Chartered analyst Daniel Smith said.

  • *Yen hampered by Japan's trade deficit, economic woes. LONDON, Nov 2- The dollar rose to a near four month-high against the yen on Friday as investors bet on an upbeat U.S. payrolls report after private employers added jobs at the fastest pace in eight months.

  • Nov 2- ITT Corp reported stronger-than-expected quarterly earnings and sales on Friday, helped by U.S. industrial demand and sales to energy markets in emerging economies.

  • *MSG 1Q net income falls, but surpasses estimates Friday, 2 Nov 2012 | 11:27 AM ET
  • W.Va. state revenues continued to rebound in Oct. Friday, 2 Nov 2012 | 11:25 AM ET

    CHARLESTON, W.Va.-- West Virginia's state budget finances are gradually improving with a second straight month of better-than-expected tax collections. October's general revenues totaled nearly $346 million, or close to $4 million more than expected. But not counting lottery proceeds, general revenue are $5 million behind since the budget year began July 1.

  • Hhgregg 2Q profit falls, stock rises on beat Friday, 2 Nov 2012 | 11:25 AM ET

    INDIANAPOLIS-- Hhgregg Inc.' s fiscal second quarter net income plunged 38 percent, as slumping video demand drove down revenue from established stores, but the electronics and appliance retailer beat earnings expectations and its stock soared.

  • *S&P 500 up 0.1 pts, Dow down 6 pts, Nasdaq down 2.25 pts. NEW YORK, Nov 2- S&P 500 stock index futures were little changed on Friday after Wall Street posted its best daily rise in seven weeks and ahead of the last monthly jobs report before the presidential elections next week.