Latest Business News Wires - Business Headlines


  • The upscale furniture retailer, backed by private equity firms Catterton Partners and Tower Three Partners LLC, opened New York Stock Exchange trading at $32.05 after pricing at the high end of the expected range at $24.

  • Nov 2- More than 3.7 million homes and businesses along the U.S. East Coast remained without power on Friday after Hurricane Sandy battered the region. Sandy made landfall in New Jersey on Monday night. Power companies have reported a peak of nearly 8.48 million customers without power, according to a U.S. Department of Energy report.

  • NEW YORK, Nov 2- U.S. stocks cut their gains to turn negative on Friday despite a stronger-than-expected payroll report. Still, the S&P remained on track for its best week of the past four. The Nasdaq Composite Index was down 8.43 points, or 0.28 percent, at 3,011.63.

  • THE RACE: Both Obama, Romney cite new jobs data Friday, 2 Nov 2012 | 2:24 PM ET

    For President Barack Obama, the final government jobs report before Election Day could have been worse. The Bureau of Labor Statistics announced solid job growth of 171,000 workers in October and said hiring was stronger in August and September than first reported.

  • Feds add 2 NJ counties to disaster jobless list Friday, 2 Nov 2012 | 2:22 PM ET

    TRENTON, N.J.-- Federal officials have added Bergen and Somerset counties to the list of New Jersey counties where residents left jobless because of Sandy are eligible for unemployment benefits. The disaster unemployment assistance program is offered to people who otherwise may not be eligible for regular unemployment insurance.

  • Nov 2- Hyundai Motor Co and its affiliate Kia Motors Corp overstated the gasoline mileage for more than 1 million 2011-2013 model year cars in the United States and Canada, and will offer debit cards to customers to make up the difference.

  • JAKARTA/ LONDON, Nov 2- Financier Nat Rothschild is in talks with Indonesian investors, including a contender for the country's presidency, on a plan to counter a $1.4 billion proposal by the influential Bakrie family to dismantle coal mining group Bumi Plc, sources said.

  • Promising discoveries from Mozambique to Kenya have put governments in the driver's seat and the rising fees they will demand from oil and gas companies will start to weed out the smaller players that have blazed the region's exploration path. Kenya has said it will revamp its tax rules to benefit more from profits earned by foreign oil and gas exploration.

  • 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.

  • *LinkedIn shares jump after earnings. *S&P 500 up 0.4 pct, Dow up 0.3 pct, Nasdaq up 0.2 pct. NEW YORK, Nov 2- The S&P 500 climbed in early trading Friday as U.S. employers stepped up hiring in October and the jobless rate ticked higher as more workers restarted job hunts, a hopeful sign for a lackluster economy.

  • Reuters World News Highlights at 1345 GMT, Nov 02 Friday, 2 Nov 2012 | 2:00 PM ET

    BEIJING- Potentially sinister threats to China's ruling Communist Party sit unnoticed in cages perched on a rooftop above a small alleyway in southwestern Beijing.

  • WASHINGTON, Nov 2- Demand for U.S. factory goods rose in September by the most in over a year, although a gauge of business investment plans pointed to lackluster momentum in the economic recovery despite a slight upward revision. New orders for manufactured goods climbed 4.8 percent, the Commerce Department said on Friday.

  • *Profit of $2.55/ share before items miss analysts' view of $2.83. Nov 2- Chevron Corp posted much lower-than-expected quarterly earnings on Friday as maintenance exacerbated a steady decline in oil and natural gas production and as a huge fire at one of the company's California plants hit the refining business.

  • NEW YORK, Nov 2- U.S. Treasuries prices fell on Friday after the government reported stronger than forecast U.S. job growth in October, a hopeful sign for the economic recovery that whetted investors' appetite for riskier assets and damped their desire for safe-haven U.S. government debt.

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

  • Nov 2- Shares of high end furniture retailer Restoration Hardware rose as much as 34 percent during their market debut on Friday. The company, backed by private equity firms Catterton Partners and Tower Three Partners LLC, opened New York Stock Exchange trading at $32.05 after pricing at the high end of the expected range at $24.

  • *Pressure rising for projects to revive UK economy. LONDON, Nov 2- London's mayor accused the British government on Friday of ``utter inertia'' on airport expansion policy with pressure growing for a launch of major infrastructure projects to help shore up the floundering economy.

  • CF Industries spends $1.7B in Iowa expansion Friday, 2 Nov 2012 | 1:56 PM ET

    DES MOINES, Iowa-- Fertilizer maker CF Industries Inc. plans to invest $1.7 billion to expand its facility on the south edge of Sioux City, Iowa. Terry Branstad on Thursday said that the project is the largest capital investment ever for the state of Iowa. The plant should be operational by 2016, said CF Industries CEO Steve Wilson.

  • NY official estimates Sandy's cost at $18B Friday, 2 Nov 2012 | 1:52 PM ET

    ALBANY, N.Y.-- New York's state comptroller says the cost of superstorm Sandy could exceed $18 billion in New York alone. Comptroller Thomas DiNapoli pegged the toll at $15 billion to $18 billion in public and private sector losses based on past storms, but that total could easily grow.

  • WASHINGTON, Nov 2- The White House said on Friday that data showing hiring in the United States increased in October was proof the economy is on the mend, and stressed that the nation needs to stay with President Barack Obama's policies to dig out of hole created by the recession.