Latest Business News Wires - Business Headlines


  • Kodak posts larger loss amid bankruptcy costs Tuesday, 30 Oct 2012 | 9:59 PM ET

    *Kodak hopes to emerge from bankruptcy in 2013. Oct 30- Eastman Kodak Co on Tuesday said its third-quarter loss grew 41 percent from a year earlier, reflecting restructuring and other costs as the bankrupt camera pioneer shifts its business focus toward printing from photography.

  • Reuters World News Highlights 2200 GMT Oct 30 Tuesday, 30 Oct 2012 | 9:58 PM ET

    NEW YORK- Millions of people were left reeling in the aftermath of monster storm Sandy on Tuesday as New York City and a wide swathe of the eastern United States struggled with epic flooding and massive power outages.

  • NEW YORK, Oct 30- U.S. gasoline and heating oil futures slid on Tuesday, pulling back from pre-Hurricane Sandy gains as several key East Coast refineries and pipelines restored operations and traders bet on an enormous hit to demand for fuel.

  • *Philadelphia's 330,000- bpd refinery restarting. *Hess 70,000- bpd NJ refinery, Imperial plant suffer outages.

  • *Verizon has flooding central offices, West Street out of action. *AT&T, T-Mobile USA, Sprint suffer service problems. While all the region's telecom service providers were having problems, Verizon Communications, which serves many of the states in the hurricane's path, may have suffered some of the worst damage from the storm to its wireline network.

  • LOS ANGELES, Oct 30- Walt Disney Co has agreed to buy filmmaker George Lucas's Lucasfilm Ltd and the ``Star Wars'' franchise for $4.05 billion in cash and stock, a b lockbuster deal that includes the surprise promise of a new film in the series in 2015..

  • Manulife says Hurricane Sandy exposure is 'manageable' Tuesday, 30 Oct 2012 | 9:33 PM ET

    TORONTO, Oct 30- Manulife Financial, one of North America's largest insurers, said its exposure to Hurricane Sandy was manageable and within its risk tolerance. Intact Financial, which is Canada's largest property& casualty insurer, said it has no exposure to the hurricane as it does not have any U.S. operations.

  • Canada sees G20 talks pressuring Europe, U.S. Tuesday, 30 Oct 2012 | 9:31 PM ET

    OTTAWA, Oct 30- This weekend's meetings of the Group of 20 leading nations are likely to keep pushing Europe and the United States to confront their debt troubles, Canadian Finance Minister Jim Flaherty said on Tuesday.

  • OTTAWA, Oct 30- There are signs that Canada's soaring household debt and its heated housing market- two of the biggest headaches for the country's policymakers- are decelerating, Bank of Canada Governor Mark Carney said on Tuesday.

  • NEW YORK, Oct 30- The pilots union at American Airlines said on Tuesday that a labor deal could be close if the bankrupt airline is willing to make certain key concessions.

  • LONDON, Oct 30- World shares rose modestly in subdued trading on Tuesday as investors and traders readied for U.S. markets to reopen after a massive storm that wrought destruction across the eastern United States.

  • *Sees full-year non-GAAP EPS $1.65- $1.68. Oct 30- Western Union Co, the world's largest payment transfer company, cut its full-year forecast as rising competition and weak markets weigh on its business. Western Union raised its share buyback plan to $750 million and its annual dividend by 25 percent to 50 cents.

  • Some of the rerouted calls came in without location information that police or firefighters need to find the caller, FCC Chairman Julius Genachowski told a news conference to discuss communications outages. FCC officials declined to say where the affected call centers were.

  • HOUSTON, Oct 30- New York's electric grid operator said more than 90 transmission lines remained out of service on Tuesday afternoon, a day after Hurricane Sandy slammed into the East Coast with 80 mph winds and record storm surge.

  • HONG KONG, Oct 31- China's top four banks are on course for their weakest annual profit growth since going public as the central bank's interest rate cuts in the middle of the year kick in, slicing lending margins.

  • DETROIT, Oct 30- Sergio Marchionne, chief executive of both Fiat SpA and Chrysler Group LLC, said he wants to achieve ``unification'' of the two automakers by 2015.. That stake is held by a United Auto Workers union healthcare trust for retired Chrysler workers, a voluntary employees beneficiary association.

  • LOS ANGELES, Oct 30- Walt Disney Co has agreed to buy filmmaker George Lucas's Lucasfilm Ltd and the ``Star Wars'' franchise for $4.05 billion in cash and stock, a b lockbuster deal that adds one of the most beloved franchises in entertainment history to Disney's lineup.

  • Oct 30- U.S. East Coast electric companies report that outages from Hurricane Sandy have hit more than 8.2 million homes and businesses, the U.S. Department of Energy said in a report early on Tuesday.

  • Airlines said they planned to restart service Tuesday at some East Coast airports, including Boston and Philadelphia.

  • WASHINGTON, Oct 30- Floods, high winds, snow and related power outages brought on by Hurricane Sandy knocked out a small number of 911 call centers, forcing the emergency service to be rerouted, a top Federal Communications official said on Tuesday.