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Latest Business News Wires - Business Headlines


  • UPDATE 1-Clorox posts higher profit, stands by 2013 view Wednesday, 31 Oct 2012 | 1:26 PM ET

    *First-quarter profit $1.01/ share tops Street view $0.95. Oct 31- Clorox Co posted a higher quarterly profit and maintained its forecast for the fiscal year on Wednesday, buoyed by price increases, cost cuts and a lower-than-anticipated tax rate.

  • UPDATE 3-PVH to buy Warnaco for Calvin Klein control Wednesday, 31 Oct 2012 | 1:26 PM ET

    *Offer of $68.43 a share represents a premium of 34 percent. Oct 31- PVH Corp will buy rival Warnaco Group Inc for about $2.8 billion in a cash-and-stock deal that will give the company control of the Calvin Klein clothing brand.

  • By Harry Papachristou and George Georgiopoulos. ATHENS, Oct 31- The Greek government on Wednesay predicted worse-than-expected recession in 2013 and downgraded a rare positive note in its budget, highlighting the toll of repeated rounds of austerity.

  • Few housing solutions offered in presidential race Wednesday, 31 Oct 2012 | 1:22 PM ET

    HENDERSON, Nev.-- This suburb in a battleground state is pockmarked with half-built subdivisions, foreclosed homes and voters like Leslie Levin. But here and in hotly contested Florida, the damage to the housing market is still painfully visible.

  • Oct 31- Take-Two Interactive Software Inc's quarterly revenue more than doubled on strong sales of ``Borderlands 2'' and ``Grand Theft Auto IV,'' but the company said on Wednesday that it was reducing its outlook for its fiscal year 2013..

  • Oct 31- Payment network MasterCard Inc's quarterly revenue missed analysts' estimates for the second time in a row as consumers held back on spending. The world's second-largest credit and debit card network said net income rose 8 percent to $772 million, or $6.17 per share, in the third quarter from $717 million, or $5.63 per share, a year earlier.

  • Sherritt posts loss on lower nickel sales, price Wednesday, 31 Oct 2012 | 1:18 PM ET

    Oct 31- Canadian miner Sherritt International Corp posted a third-quarter loss on Wednesday as lower nickel prices and sales volumes, and lower exports of thermal coal weighed on revenue.

  • Teen deaths case behind French riots reopens Wednesday, 31 Oct 2012 | 1:03 PM ET

    PARIS-- France's highest appeals court on Wednesday reopened a trial of two police officers accused of failing to help two teenagers whose 2005 electrocution deaths sparked riots across the country.

  • LONDON, Oct 31- World shares and the euro edged up on Wednesday as investors braced for a storm-hit Wall Street to reopen after its two-day closure and looked ahead to economic data later in the week. Equity futures are higher, so people are expecting a positive opening,'' said Arne Lohmann Rasmussen, head of currency research at Danske Bank in Copenhagen.

  • *Offer of $68.43/ share represents a premium of 34 pct to Warnaco's last close. Oct 31- PVH Corp will buy lingerie and sportswear maker Warnaco Group Inc for about $2.8 billion in a cash-and-stock deal to bring the Calvin Klein clothing brand under one roof.

  • UPDATE 3-ECB warned to take care with its assets Wednesday, 31 Oct 2012 | 11:54 AM ET

    OSAKA, Japan, Oct 31- The European Central Bank must be careful about risks to its assets, Executive Board member Benoit Coeure said on Wednesday, suggesting the bank may take a cautious approach to its new bond-buying scheme. It was echoed by a call from the ECB's former president, Jean-Claude Trichet, for the bank to be ``extremely vigilant'' about its assets.

  • Oct 30- Best Busy Co Inc on Tuesday canceled an analyst meeting it had planned to hold in New York this week as the city tries to recover from the massive storm Sandy, postponing Chief Executive Hubert Joly's opportunity to tell investors how he plans to turn the company around.

  • *Market eyes China official PMI on Thursday. LONDON, Oct 31- London copper bounced more than 1 percent as the dollar weakened on Wednesday and short-term speculators switched to risk-on trading, but the metal was on track for a monthly loss as uncertainly persisted about demand from top consumer China.

  • Oct 31- Cummins Inc posted a 22 percent drop in quarterly profit on Wednesday as demand for its engines and engine parts fell in nearly all parts of the globe. For the third quarter, the company posted net income of $352 million, or $1.86 per share, compared with $452 million, or $2.35 per share, a year earlier. Revenue fell 11 percent to $4.1 billion.

  • GENEVA, Oct 31- The world's leading economies must try harder to keep their markets open to counter slowing global growth, international agencies said on Wednesday.

  • GM posts profit, sees break even in Europe by mid-decade Wednesday, 31 Oct 2012 | 11:29 AM ET

    DETROIT, Oct 31- General Motors Co on Wednesday posted a far stronger-than-expected profit and said it was targeting a return to break-even levels in its money-losing European operations by mid-decade after a loss of as much as $1.8 billion in that region this year.

  • *Proposes dividend of $0.20 from 2013, vs $0.75 in 2012. BRUSSELS, Oct 31- ArcelorMittal, the world's largest steelmaker, plans to slash its dividend and focus on cutting debt after slowing demand from China and sluggish European markets drove it to a third-quarter loss.

  • UPDATE 3-Barclays hit by fresh U.S. investigations Wednesday, 31 Oct 2012 | 11:17 AM ET

    *Barclays may be hit soon with penalty on past U.S. power prices. LONDON, Oct 31- Barclays, already rocked by an interest rate rigging scandal, unveiled new U.S. regulatory investigations into the bank's financial probity on Wednesday and said its profit was hit by charges for mis-selling insurance.

  • TOKYO, Oct 31- Japan's power companies, still reeling from last year's Fukushima disaster, are taking their tentative first steps to embrace competition that may end the regional monopolies that have supplied electricity since World War Two.

  • OECD, WTO, UN urge G20 powers to keep markets open Wednesday, 31 Oct 2012 | 11:03 AM ET

    GENEVA, Oct 31- The Group of 20 leading economies must redouble efforts to keep their markets open to spur global economic growth and restore certainty, international agencies said on Wednesday.