Latest Business News Wires - Business Headlines


  • *Spot gold may rebound to $1,730/ oz- technicals.

  • HONG KONG, Oct 31- China's top four banks are on course for their weakest annual profit growth since going public, as the central bank's interest rate cuts in the middle of the year kick in, slicing lending margins.

  • UPDATE 2-Hon Hai shares rise after strong Q3 profit Wednesday, 31 Oct 2012 | 3:34 AM ET

    *Concerns over Apple's long-term growth capped Hon Hai's share rise-analyst. TAIPEI, Oct 31- Shares of Taiwan's Hon Hai Precision Industry jumped on Wednesday after the main manufacturer of Apple Inc's products posted a sharp rise in quarterly net profit, boosted by new gadget launches by the California giant.

  • POLL-Reuters Asset allocation tablet (Japan) Oct 2012 Wednesday, 31 Oct 2012 | 3:30 AM ET

    TOKYO, Oct 31- Japanese fund managers pushed their allocation for euro zone bonds to the highest level in 10 months as yields stabilised, but pulled their overall exposure to bonds down from last month's record high as risk appetite picked up, a Reuters poll showed.

  • TOKYO, Oct 31- Japanese fund managers pushed their allocation for euro zone bonds to the highest level in 10 months as yields stabilised, but cut their overall exposure to bonds from last month's record high as risk appetite revived, a Reuters poll found.

  • PRECIOUS-Gold poised to snap four-month winning streak Wednesday, 31 Oct 2012 | 12:53 AM ET

    SINGAPORE, Oct 31- Gold edged up on Wednesday but was still poised to end a four-month winning streak with the biggest one-month decline since May, as investors awaited an important U.S. employment report.

  • AstraZeneca deepens collaboration with academia Wednesday, 31 Oct 2012 | 12:01 AM ET

    LONDON, Oct 31- British academic researchers have secured 7 million pounds of funding from the country's Medical Research Council to investigate a range of potential new drugs made available free-of-charge by AstraZeneca. AstraZeneca did initial tests on these chemicals but then put them on hold for a variety of reasons.

  • Hurricane Sandy silences Atlantic City's casinos Tuesday, 30 Oct 2012 | 11:53 PM ET

    Oct 30- Hurricane Sandy has silenced the thousands of slot machines and high-rollers who normally crowd the black jack and roulette tables of Atlantic City, but the resort's casino companies wager they could be back in business within days.

  • MILAN, Oct 30- Fiat SpA sharply cut its performance targets for the next two years, saying languishing sales in austerity-hit Europe may lop off a third of its previous projections for 2014 trading profit.

  • Oct 30- Hospital operator Community Health Systems Inc reported third-quarter profit that exceeded analysts' estimates, but it trimmed its full-year profit forecast due to higher interest expense and a delayed payment from a California Medicaid program.

  • TOKYO, Oct 31- Japan's Nikkei share average was seen moving higher on Wednesday after losing 1 percent on profit-taking a day earlier when the Bank of Japan eased monetary policy in line with expectations. ``Since the reaction to the BOJ was fully priced in yesterday, I think we should bounce back today,'' said Toshiyuki Kanayama, senior market analyst at Monex. ``The index should be steady, with some small gains, although there's a lack of incentives because the U.S. wasn't open.'' Market players said the Nikkei was likely to trade between 8,850 to 8,950 on Wednesday.

  • *Petrochina profit drops by third on refining loss Tuesday, 30 Oct 2012 | 11:35 PM ET
  • *NYSE, Nasdaq OMX testing trading systems on Tuesday. NYSE Euronext said the New York Stock Exchange would open as usual, although it was prepared to switch to fully electronic trading if necessary. ``We have a green light,'' the chief operating officer of NYSE Euronext, Larry Leibowitz, said in an interview.

  • NEW YORK, Oct 30- As residents and businesses clean up from one of the worst storms to hit the U.S. East Coast in memory, investors are preparing for the stock market reaction by betting on or against insurers, casino companies and home improvement stores.

  • LOS ANGELES, Oct 30- Walt Disney Co agreed to buy filmmaker George Lucas's Lucasfilm Ltd and its ``Star Wars'' franchise for $4.05 billion in cash and stock, a b lockbuster deal that includes the surprise promise of a new film in the series in 2015..

  • Late Tuesday, Port Authority of New York and New Jersey said it was possible that there would be limited service on Wednesday at John F. Kennedy International Airport. Airlines said they planned to restart service Tuesday at some East Coast airports, including Boston and Philadelphia.

  • DETROIT, Oct 30- Sergio Marchionne, chief executive of both Fiat SpA and Chrysler Group LLC, said he wants to achieve ``unification'' of the two automakers by 2015, b ut first he needs to fix Fiat's finances, which have been hit by a sagging European economy.

  • MEXICO CITY, Oct 30- Mexico's president-elect, Enrique Pena Nieto, will present a tax reform bill during his first year in office, his top aide said on Tuesday, without providing any details on the plan.

  • TIM posts flat Q3 profit as revenue growth slows Tuesday, 30 Oct 2012 | 10:36 PM ET

    SAO PAULO, Oct 30- TIM ParticipaƧoes, Brazil's second-largest wireless phone company, posted flat third-quarter profit on Tuesday, as a subscriber base bigger than a year ago helped make up for a recent slowdown in sales and costs associated with growing regulatory pressure.

  • SYDNEY, Oct 31- The yen drifted off a one-week high against the dollar on Wednesday thanks to a general improvement in risk appetite, paring gains made after the Bank of Japan balked at delivering bolder action to kickstart growth.