Latest Business News Wires - Business Headlines


  • Obama warns GOP not to undo Wall Street law Saturday, 27 Oct 2012 | 6:11 AM ET

    In his Internet and radio address Saturday, Obama drew attention to the Consumer Financial Protection Bureau, noting that it and other regulators recently cracked down on three credit card companies, ordering them to pay $400 million to people who were misled into making purchases they didn't want.

  • MIAMI, Oct 27- Hurricane Sandy pulled away from the Bahamas on Saturday after killing at least 41 people in the Caribbean, beginning a slow march toward the U.S. East Coast where it threatens to hit as one of the worst storms in decades.

  • MIAMI, Oct 27- Hurricane Sandy pulled away from the Bahamas on Saturday after killing at least 41 people in the Caribbean, beginning a slow march toward the U.S. East Coast where it threatens to hit as one of the worst storms in decades.

  • The White House said no new tax policy suggestion had been formulated. ``There's no specific new proposal such as this one at this time,'' a White House official said. The Post said the Obama administration wanted to match the benefits of the payroll tax reduction without tapping into Social Security revenues.

  • WASHINGTON, Oct 26- The Obama administration is considering a possible tax cut that would increase workers' take-home salaries and replace the payroll tax reduction set to expire at the end of the year, The Washington Post reported on Friday. The Post said the administration believed the economy could use further stimulus despite signs of improvement.

  • NEW YORK, Oct 26- Allenberg Cotton's long-time chief executive Joe Nicosia will be replaced by his former second in command, Anthony Tancredi, who is returning to run the world's biggest cotton merchant just six weeks after his shock departure, a source familiar with the situation said.

  • Calif Latino grocery chain fights immigration woes Saturday, 27 Oct 2012 | 12:08 AM ET

    FRESNO, Calif.-- Two decades ago, Mi Pueblo Food Center began modestly as a small butcher shop run by an illegal immigrant. "We are feeling what is happening to us in a way that most companies might not, because we are founded by an immigrant and depend on immigrants to survive," said Perla Rodriguez, spokeswoman for the San Jose, Calif- based company.

  • WASHINGTON, Oct 26- A $500- million ``green jobs'' program to train U.S. workers for new jobs and help spark recovery from the great recession has fallen far short of its goals, according to a report from the Labor Department's internal watchdog released on Friday.

  • Sandy leaves Bahamas after killing 43 in Caribbean Friday, 26 Oct 2012 | 11:16 PM ET

    NASSAU, Bahamas-- Hurricane Sandy spun away from the Bahamas late Friday after causing 43 deaths across the Caribbean, churning northward toward the U.S. East Coast, where it threatens to join with winter weather fronts to create a super storm.

  • MIAMI, Oct 26- Hurricane Sandy, a late-season Atlantic cyclone that threatens to be one of the worst storms to hit the U.S. Northeast in decades, slogged slowly northward on Friday after killing at least 41 people in the Caribbean.

  • NEW YORK, Oct 26- Earnings season may be only half over, but the focus on profits should subside next week as investors turn their attention to the coming election and Friday's jobs report, the last major data release before the Nov. 6 contest.

  • NEW YORK/ TORONTO, Oct 26- Moody's Investors Service warned on Friday it could cut its ratings on five top Canadian banks on concerns about a softening economy and volatile capital markets, a blow to a banking system named the soundest in the world four years in a row.

  • *Citi fired top Internet analyst and junior analyst. BOSTON/ SAN FRANCISCO, Oct 26- Citigroup fired its top Internet analyst, Mark Mahaney, and paid a $2 million fine to a Massachusetts regulator to settle charges that the bank improperly disclosed research on Facebook IPO and information on other tech companies.

  • New York, North Carolina, Virginia and Maryland declared states of emergency to free up resources. Virginia Governor Bob McDonnell urged residents in coastal areas to prepare to evacuate before the storm hits and advised others in the state to stock up on provisions needed to get through any disaster.

  • UPDATE 5-U.S. court rejects Argentina's debt fix Friday, 26 Oct 2012 | 10:14 PM ET

    *Argentina says court battle not over; bond prices fall. Oct 26- A U.S. appeals court said Argentina improperly discriminated against bondholders who refused to take part in two massive debt restructurings, setting back the country's efforts to recover from a roughly $100 billion default a decade ago.

  • Cooper, Eaton shareholders approve $11.8 bln merger Friday, 26 Oct 2012 | 10:08 PM ET

    Oct 26- Shareholders of electrical products makers Cooper Industries Plc and Eaton Corp approved the two companies' $11.8 billion merger on Friday, the companies said. Cooper Industries said 68 percent of its total outstanding shares were voted at a shareholder meeting, out of which 99.45 percent were in favor of the merger.

  • *Dow up 0.03 pct, S&P 500 down 0.1 pct, Nasdaq up 0.1 pct. NEW YORK, Oct 26- U.S. stocks finished flat on Friday, recovering from moderate declines as bargain hunters rushed in to buy Apple, lifting it off its lows, and scooped up other stocks recently battered by disappointing results.

  • In shaky Syrian holiday truce, enemies eye victory Friday, 26 Oct 2012 | 9:58 PM ET

    LONDON, Oct 26- Lakhdar Brahimi's holiday truce may have saved Syrian lives on Friday, as government troops and rebels drew breath on several fronts- though dozens still shed blood on Eid al-Adha, the Muslim Feast of Sacrifice.

  • WASHINGTON, Oct 26- The pharmacy company at the center of a deadly meningitis outbreak knew of contamination at its Framingham, Mass., facility as early as January but has no record of acting to safeguard the drugs prepared there, U.S. health officials said on Friday.

  • MEXICO CITY, Oct 26- Mexico's central bank said on Friday it could tighten monetary policy soon for the first time in four years if inflation persists and price pressures do not abate.