Latest Business News Wires - Business Headlines


  • SHANGHAI, Nov 1- China's yuan steadied its recent rise on Thursday, despite hitting the strong side boundary for the third straight day, as the central bank set a weaker fix against the dollar. The People's Bank of China set its midpoint at 6.3017 per dollar, slightly weaker than Wednesday's fix of 6.3002.

  • UPDATE 2-Refining underpins Shell Q3 as output stalls Thursday, 1 Nov 2012 | 9:13 AM ET

    LONDON, Nov 1- World No. 2 oil company Royal Dutch Shell, seen as having some of the best output growth assets in the business, joined its peers in suffering lower production in the third quarter.

  • *China official manufacturing PMI, HSBC final PMI pick up. LONDON, Nov 1- European shares opened higher on Thursday, bolstered by relatively robust earnings reports despite economic weakness, while the euro inched lower as uncertainty over how the euro zone will handle crises in Spain and Greece dragged on.

  • HONG KONG, Nov 1- Mainland Chinese shares posted their strongest daily gains in more than three weeks on Thursday, boosting Hong Kong stocks, following positive China economic data and a report that local governments were easing restrictions on property purchases. The China Enterprises Index of the top Chinese listings in Hong Kong jumped 1.1 percent.

  • REUTERS WORLD NEWS OUTLOOK Thursday, 1 Nov 2012 | 8:30 AM ET

    BERLIN- German Chancellor Angela Merkel meets Irish Prime Minister Enda Kenny. TOKYO- Norwegian Prime Minister Jens Stoltenberg visits Japan and meets with Prime Minister Yoshihiko Noda. **BAMAKO/ DAKAR- German Foreign Minister Guido Westerwelle visits Mali and Senegal.

  • Cato key revenue figure flat in October Thursday, 1 Nov 2012 | 8:19 AM ET

    CHARLOTTE, N.C.-- Women's clothing company Cato Corp. said Thursday that revenue at stores open at least a year in October was unchanged from last year, and it's slightly more optimistic about profit in its third quarter. The company said total revenue in October rose 3 percent to $64.3 million, and rose 2 percent in the fiscal third quarter to $197.6 million.

  • US futures mixed ahead of earnings, economic data Thursday, 1 Nov 2012 | 8:19 AM ET

    NEW YORK-- Futures are mixed ahead of a bevy of corporate earnings reports that had been postponed due to the hurricane, and a number of economic indicators on consumers, manufacturing, construction and jobs. Dow Jones industrial futures are down 2 points to 13,028. The broader S&P futures have fallen 1.2 points to 1,405.60.

  • Reassuring corporate results lift European shares Thursday, 1 Nov 2012 | 8:18 AM ET

    LONDON, Nov 1- European shares edged up on Thursday, bolstered by a string of upbeat earnings reports from UK companies including heavyweight oil major Royal Dutch Shell. Trading volumes were expected, however, to be thin due to public holidays in France, Italy, Spain and parts of Germany.

  • Hong Kong shares end up 0.8 pct at 2012 closing high Thursday, 1 Nov 2012 | 8:12 AM ET

    HONG KONG, Nov 1- Hong Kong shares closed at a new 2012 closing high on Thursday, boosted by gains in mainland Chinese markets which advanced on hopes that some city governments were easing restrictions on property purchases. The China Enterprises Index of the top Chinese listings in Hong Kong ended up 1.1 percent.

  • *Sony Q2 operating profit 30.3 bln yen. *Sony keeps FY fcast for 130 bln yen oper profit. Bigger Japanese rival Sony Corp, which blazed a trail in the early 1980 s with its Walkman portable music players, made a small operating profit in July-September and kept its forecast for a full-year profit of $1.63 billion.

  • UPDATE 1-Shell profit drops on oil price, charges Thursday, 1 Nov 2012 | 7:47 AM ET

    LONDON, Nov 1- World No. 2 oil company Royal Dutch Shell suffered a 15 percent fall in current cost of supply profits in the third quarter as the impact of lower crude prices, a fall in output and special charges outweighed stronger margins in refining.

  • SINGAPORE, Nov 1- Brent crude hovered around $108.50 a barrel on Thursday as investors focused on concerns that storm Sandy's rampage across the U.S. East Coast could reduce fuel demand, although data pointing to recovery in China offered some support.

  • RIYADH, Nov 1- At least 10 people were killed when a fuel truck crashed into a flyover in the Saudi capital Riyadh on Thursday, triggering an explosion that caused the collapse of an industrial building, witness and television reports said. Al Arabiya and Al Jazeera television stations reported at least a further 50 people were injured.

  • RR Donnelley 3Q profit shrinks, cuts forecast Thursday, 1 Nov 2012 | 7:43 AM ET

    CHICAGO-- R.R. Donnelley& Sons Co.' s third-quarter net income dropped 55 percent as volumes and prices declined, with an extra hit from one-time charges like acquisition costs and the lack of a tax benefit from last year. R.R. Donnelley reported Thursday that it earned $71.4 million, or 39 cents per share, compared with $158 million, or 83 cents per share, a year ago.

  • Ford to hold conference call, may reveal CEO plan Thursday, 1 Nov 2012 | 7:30 AM ET

    DETROIT-- Ford has scheduled a conference call for Thursday morning and may announce a succession plan for CEO Alan Mulally. Many in the company expect Americas President Mark Fields to be promoted to Chief Operating Officer, a step that prepares him to take over for Mulally. Ford Motor Co. spokesman Jay Cooney would not say what the conference call is about.

  • Pfizer 3Q profit falls 14 pct on generic Lipitor Thursday, 1 Nov 2012 | 7:25 AM ET

    NEW YORK-- Drug giant Pfizer Inc. says its third-quarter profit fell 14 percent as sales plunged, mainly due to U.S. generic competition to cholesterol fighter Lipitor, long the world's top-selling drug. The maker of pain reliever Lyrica says net income was $3.21 billion, or 43 cents per share.

  • SINGAPORE, Nov 1- Gold traded flat on Thursday, shrugging off data showing China's economy was perking up, as investors looking for more clarity on the global economy focused instead on U.S. employment data due on Friday.

  • Shell Q3 drops on oil price, charges Thursday, 1 Nov 2012 | 7:21 AM ET

    LONDON, Nov 1- World No. 2 oil company Royal Dutch/Shell suffered a 15 percent fall in current cost of supply profits in the third quarter as the impact of lower crude prices and charges outweighed stronger margins in refining. Shell reported CCS net profit of $6.1 billion, down from $7.2 billion a year ago.

  • TOKYO, Nov 1- Japan's government is ready to strike a deal with the opposition to pass a critical bill needed to prevent a severe funding squeeze and it is now up to the opposition to spell out its conditions, Vice Finance Minister Tsutomu Okubo said on Thursday.

  • HONG KONG, Nov 1- Mainland China shares started November on a strong note on Thursday, posting their best performance in more than three weeks, boosted by positive economic data and measures by some city governments to ease restrictions on the property sector.