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Latest Business News Wires - Business Headlines


  • NEW YORK, Nov 2- U.S. stocks ended an unusual storm-shortened trading week with a selloff on Friday, as major indexes erased early gains sparked by a stronger-than-expected payrolls report. Based on the latest available data, the Dow Jones industrial average slid 139.46 points, or 1.05 percent, to end unofficially at 13,093.16.

  • Google's Android software in 3 out of 4 smartphones Friday, 2 Nov 2012 | 8:04 PM ET

    SAN FRANCISCO, Nov 2- Three out of every four smartphones sold in the third quarter featured Google Inc's Android mobile operating system, as the gap between Google and Apple Inc- based phones widened further, according to a new research report. Apple's share of the market increased to 14.9 percent during the third quarter, from 13.8 percent a year earlier.

  • News Summary: Berkshire Hathaway 3Q earnings Friday, 2 Nov 2012 | 8:01 PM ET

    PAPER PROFITS: Warren Buffett's company said its third-quarter net income soared 72 percent to $3.92 billion, or $1.58 per Class B share. But most of that was a result of a big swing in the paper value of Berkshire Hathaway's investments and derivative contracts. FREIGHT FORTUNES: BNSF Railway was one of the strongest performers for Berkshire.

  • FOREX-Dollar rallies broadly after U.S. jobs data Friday, 2 Nov 2012 | 7:58 PM ET

    NEW YORK, Nov 2- The U.S. dollar rallied broadly on Friday, hitting a more than six-month peak against the yen and a one-month high versus the euro, after data showed the U.S. economy created more jobs than expected last month. U.S. employers stepped up hiring in October by adding 171,000 jobs, exceeding Wall Street's expectations.

  • NEW YORK, Nov 2- A third day of ``panic buying'' of gasoline among Sandy-struck New York area motorists o n F riday prompted action from authorities, who waived shipping regulations even as pipelines and oil tankers resumed limited shipments.

  • Nov 2- Thomson Reuters Corp reported on Friday a 15 percent fall in operating profit because of declining revenue and higher costs at its division that serves the financial industry.

  • WASHINGTON, Nov 2- U.S. employers stepped up hiring in October and a small increase in the jobless rate was due to more workers restarting their job hunts, a hopeful sign for a lackluster economy that has been a drag on President Barack Obama's re-election bid. Employers added 171,000 people to their payrolls last month, the Labor Department said on Friday.

  • NEW YORK, Nov 2- U.S. stocks extended losses, driving the Dow and the Nasdaq down 1 percent late in the session on Friday, with oil shares leading the Dow's decline. The Dow Jones industrial average fell 134.70 points, or 1.02 percent, to 13,097.92. The Nasdaq Composite Index dropped 31.99 points, or 1.06 percent, to 2,988.07.

  • *Sale is for $500 million, person close to the deal says. Nov 2- Warren Buffett's Berkshire Hathaway Inc said it would buy Oriental Trading Co, a toy and party supplies company that is partially owned by private equity firm KKR& Co LP, for an undisclosed sum.

  • Time running out for new US-Russia steel deal Friday, 2 Nov 2012 | 7:32 PM ET

    WASHINGTON, Nov 2- The United States is posed to slap steep anti-dumping duties on Russian hot-rolled steel in early December if the two sides cannot work out a new agreement in the coming weeks, U.S. industry and government sources said on Friday.

  • Nov 2- Bank of America Corp could already be above capital requirements issued on Thursday by global regulators, the bank's chief financial officer said. If the bank's models were approved, Bank of America would be in ``excess'' of the FSB's guidelines, CFO Bruce Thompson said Friday at an investor conference.

  • U.S. stock funds attracted $1.06 billion in inflows in the week ended Oct. 31, the first batch of new money for the funds since raking in $7.51 billion in the week following the Federal Reserve's announcement that it would buy $40 billion in mortgage-backed securities per month until the job market improves, the fund-tracking firm said.

  • *Apple shares hit three-month low. NEW YORK/ SAN FRANCISCO, Nov 2- Apple Inc's iPad mini hit stores around the world on Friday, attracting sparser crowds than previous Apple launches, but the kickoff still drew hundreds of New Yorkers only days after one of the biggest storms to hit the United States.

  • SALT LAKE CITY, Nov 2- The U.S. ``Unemployment is, and should be, a central focus of monetary policy right now,'' San Francisco Fed President John Williams told a group of community leaders here. ``We have substantial scope to use monetary policy to stimulate the economy without creating too much upward pressure on prices.''.

  • The Labor Department's report that job growth in October exceeded the most optimistic forecasts weighed on 30- year bonds. ``If the economy is improving, the bond market reads into that that we could have a little more inflation, and that adversely affects long-term bonds more than short-term Treasuries,'' said Jeffrey Cleveland, senior economist at Payden& Rygel, in Los Angeles.

  • Puerto Rico begins building large solar park Friday, 2 Nov 2012 | 7:03 PM ET

    SAN JUAN, Puerto Rico-- Construction has started in Puerto Rico on what will soon be the Caribbean's largest solar energy park. The $265 million project is being built in southern Puerto Rico and is expected to generate enough electricity to power more than 13,000 homes in the U.S. territory.

  • WASHINGTON, Nov 2- Shippers that take advantage of a temporary Jones Act waiver allowing foreign flagged vessels in the Gulf of Mexico to bring oil products to the U.S.

  • Nov 2- Ameridose LLC, sister company to the pharmacy at the heart of a meningitis outbreak in the United States, has agreed to extend its closure by two weeks while state and federal investigators continue to examine its facilities.

  • BUSINESS-NEWS-SCHEDULE AT 1830 GMT / 230 PM ET Friday, 2 Nov 2012 | 6:33 PM ET

    WASHINGTON- U.S. employers stepped up hiring in October and a small increase in the jobless rate was due to more workers restarting their job hunts, a hopeful sign for a lackluster economy that has been a drag on President Barack Obama's re-election bid ( USA- ECONOMY/JOBS, moved, 900 words).