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Latest Business News Wires - Business Headlines


  • Marathon Petroleum profit jumps after asset sale Thursday, 1 Nov 2012 | 11:45 AM ET

    Nov 1- Marathon Petroleum Corp, which recently agreed to pay $2.5 billion for BP Plc's Texas City refining complex, reported on Thursday an 8 percent jump in quarterly profit, due in part to the sale of assets in Minnesota earlier this year.

  • UPDATE 1-Avon slashes dividend as profit plunges Thursday, 1 Nov 2012 | 11:44 AM ET

    Nov 1- Avon Products Inc slashed its dividend by nearly 74 percent on Thursday, while also announcing measures to cut costs by at least $400 million within three years and reporting a steep plunge in third-quarter earnings.

  • AMSTERDAM, Nov 1- Jeroen Dijsselbloem looked set to become the next Dutch finance minister after Prime Minister Mark Rutte summoned the Labour MP, who is expected to back austerity at home and a tough line on euro zone deficit sinners, to a meeting on Thursday.

  • Growing numbers of accountants, banks and consultants are signing lengthy office leases in Luxembourg and the Channel Islands as they flock to serve customers seeking the legal ways to cut their tax bills offered by having a offshore base.

  • *Lonmin PLC may restructure after violent strike Thursday, 1 Nov 2012 | 11:41 AM ET
  • NRC to give update on Zion nuclear decommissioning Thursday, 1 Nov 2012 | 11:41 AM ET

    ZION, Ill.-- The Nuclear Regulatory Commission says it will update the public on decommissioning activities at the shuttered Zion Nuclear Power Station. The NRC says the public is invited to ask questions at a Thursday evening meeting at the Illinois Beach Resort and Conference Center.

  • Nov 1- CBOE Holdings Inc, which runs the biggest and oldest U.S. stock-options market, said third-quarter earnings had fallen 16 percent, hurt by a drop in trading. The operator of the Chicago Board Options Exchange reported a profit of $37.7 million, or 43 cents a share, excluding one-time tax items. That was down from $44.7 million, or 50 cents a share, a year earlier.

  • *Q3 sales $13.98 billion, vs. forecast of $14.64 billion. Nov 1- Pfizer Inc reported on Thursday quarterly revenue well below Wall Street expectations, on sharply weaker sales of specialty care drugs and a pullback of emerging market revenue. Global sales fell 16 percent to $13.98 billion, well below Wall Street expectations of $14.64 billion.

  • *Yen dips on worries about Japan, importer selling. Traders said many investors were seeking to buy the dollar on any dip in its value, targeting a rise to 83- 84 yen in the coming months as bets grow that the Bank of Japan will have to take additional monetary easing measures to fight off deflation.

  • Hospital chief new Fla. Chamber of Commerce chair Thursday, 1 Nov 2012 | 11:33 AM ET

    TALLAHASSEE, Fla.-- Orlando hospital executive Lars Houmann is the Florida Chamber of Commerce's new chairman. The business group announced Houmann's election on Wednesday as board chairman for 2012-13. He will succeed Anthony Connelly, senior vice president of Walt Disney Parks& Resorts, on Nov. 1, and serve a one-year term.

  • Nov 1- Printing firm RR Donnelley& Sons Co reported third-quarter revenue that missed analysts' estimates, hurt by weak printing volumes, and it lowered its full-year forecast. For the full-year 2012, the company lowered its revenue forecast to $10.1 billion to $10.2 billion from its earlier forecast of $10.4 billion to $10.5 billion.

  • UPDATE 1-Pentair profit tops Wall Street forecasts Thursday, 1 Nov 2012 | 11:25 AM ET

    Nov 1- Pentair Ltd reported a higher-than-expected profit on Thursday in a report that does not yet include results from the Tyco International flow control business, which merged with the company last month.

  • Key Rite Aid revenue metric slips in October Thursday, 1 Nov 2012 | 11:18 AM ET

    CAMP HILL, Pa.-- Rite Aid Corp.' s revenue from established stores slid 1.1 percent in October, as cheaper generic drugs pinched pharmacy sales again and countered the drugstore operator's business gains from Superstorm Sandy.

  • Avon slashes dividend as profit, revenue plunge Thursday, 1 Nov 2012 | 11:17 AM ET

    Avon reported a net profit of $31.6 million, or 7 cents per share, on revenue of $2.55 billion, compared with $164.2 million, or 38 cents per share, on revenue of $2.76 billion a year earlier.

  • US crude oil supplies fell by 2 million barrels Thursday, 1 Nov 2012 | 11:16 AM ET

    NEW YORK-- The nation's crude oil supplies shrank last week, the government said Wednesday. Crude supplies dropped by 2 million barrels, or 0.5 percent, to 373.1 million barrels, which is 9.9 percent above year-ago levels, the Energy Department's Energy Information Administration said in its weekly report Thursday.

  • BCE profit falls, but revenue up Thursday, 1 Nov 2012 | 11:16 AM ET

    Nov 1- BCE Inc, Canada's biggest telecom provider, reported on Thursday lower profit compared with a year earlier, when lower income tax expenses had boosted earnings, but revenue rose. Bell Canada's parent recently delayed the closing of its proposed acquisition of Astral Media Inc after Canada's broadcast regulator blocked the C $3 billion deal.

  • *Jobless claims, rescheduled ADP report on tap. NEW YORK, Nov 1- U.S. stock index futures were little changed on Thursday as investors looked ahead to data that could give a clue into the strength of the economy a day before the crucial payroll report.

  • *Parliament approves bill after lengthy delay. *President seen signing it into law quickly. YANGON, Nov 1- Myanmar's parliament approved a foreign investment bill on Thursday and lawmakers expect it to be signed into law quickly by the president since his office had come up with wording that helped end a dispute over certain clauses.

  • Pfizer quarterly revenue fall far short of forecasts Thursday, 1 Nov 2012 | 11:13 AM ET

    Nov 1- Pfizer Inc reported quarterly revenue well below Wall Street expectations, following the loss of patent protection on its Lipitor cholesterol fighter. That compared with $3.74 billion, or 48 cents per share, in the year-earlier period, when the company recorded a $1.3 billion gain on the sale of its Capsugel business.

  • Pentair posts lower third-quarter profit Thursday, 1 Nov 2012 | 11:13 AM ET

    NEW YORK, Nov 1- Pentair Ltd reported lower quarterly sales and net profit on Thursday in a report that does not yet include results from the Tyco flow control business, which merged with Pentair last month.