WASHINGTON— President Barack Obama says a loophole that lets companies dodge U.S. taxes by moving their headquarters overseas is unpatriotic. In the Republican address, congressman Steve Daines of Montana says Obama is waging a war on the middle class. He's calling for the Senate to pass House-approved jobs bills.» Read More
NEW YORK-- GETTING THE GATE AT COLGATE: Colgate-Palmolive will cut more than 2,310 workers, or 6 percent of its workforce, by the end of 2016. Colgate, which is based in New York and has 38,600 employees, wants to streamline global functions.
*Dollar hits 4- mnth high v yen, euro claws back to $1.30. LONDON, Oct 25- Global shares and commodity markets rose on Thursday, pulled out of their recent slide by encouraging data from Britain and China and the U.S.
LOS ANGELES-- Reliance Steel& Aluminum Co.' s third-quarter net income climbed 16 percent, helped by an inventory credit. The metals service-center company reported Thursday that it earned $98.1 million, or $1.30 per share, for the three months ended Sept. 30. For the fourth quarter, Reliance Steel& Aluminum anticipates earnings of 90 cents to $1 per share.
BILLINGS, Mont.-- A Texas company has bought oil and gas leases on almost 75,000 acres in northeast Montana's McCone County in a move that could portend a significant westward expansion of the Bakken oil patch, government officials and a company representative said Wednesday.
LONDON, Oct 25- Yield-hungry pension funds and sovereign wealth funds are stepping in where crisis-hit, regulation-laden banks are pulling back: lending to cash-starved businesses.
Oct 25- Fashion company Fifth& Pacific Cos Inc reported a loss from its continuing operations, hurt by the ongoing struggles of its Juicy Couture brand. Fifth& Pacific, known as Liz Claiborne Inc until May, reported a third-quarter net loss of $18.8 million, or 17 cents a share, compared with a year-earlier loss of $214.6 million, or $2.27 a share.
*Ford to close Southampton plant, Dagenham stamping plant. LONDON/ BASILDON, England, Oct 25- Ford will stop making vans in Britain next year, with the potential loss of 2,000 jobs, a union leader said, as part of a plan by the U.S. car maker to drag its European operations back into profit.
MADRID, Oct 25- Spain will tap 60 billion euros from a European credit line agreed in June to recapitalise its troubled lenders, a draft amendment before Parliament showed, but the government still plans to use only 40 billion of that. The financial sector reform must be enacted before the end of November as part of the conditions for Spain to get aid for the banks.
Potash Corp. of Saskatchewan Inc. said Thursday that its net income fell 22 percent on a drop in overseas sales. The Canadian fertilizer maker earned $645 million, or 74 cents per share, down from $826 million, or 94 cents per share, in the same quarter last year.
SAO PAULO, Oct 25- Banco Santander Brasil SA posted an 8.5 percent decline in third-quarter profit on Thursday, as rising delinquencies forced the nation's largest lender to boost bad loan provisions.
Earnings, excluding a one-time tax hit, fell to $233.7 million, or 70 cents a share, from $315 million, or 95 cents a share, a year earlier, CME said on Thursday. Revenue fell 22 percent to $683 million, missing the Wall Street forecast of $693 million, as trading declined 26 percent.
Oct 25- Celgene Corp's quarterly results beat expectations on strong sales of its Revlimid cancer treatment, and the biotechnology company narrowly raised its full-year profit forecast. Excluding special items, Celgene earned $1.29 per share. Global company revenue rose 14 percent to $1.42 billon, topping Wall Street expectations of $1.41 billion.
Altria Group Inc., the owner of the biggest U.S. cigarette maker, Philip Morris USA, continues to focus its efforts on building its premium Marlboro brand which has been under pressure from competitors and lower-priced cigarette brands as consumers face economic challenges and unemployment remains high.
WASHINGTON _ Commerce Department releases third-quarter gross domestic product, 8:30 a.m.. Arch Coal Inc. reports quarterly financial results. Comcast Corp. reports quarterly financial results.
CHICAGO-- The Chicago Board of Education has approved a three-year contract negotiated with the Chicago Teachers Union after a strike. Board President David Vitale said in a statement Wednesday the contract ensures a quality school day for students and gives teachers a fair raise and new professional development support.
SAN RAMON, Calif.-- Chevron Corp. said Thursday that it found natural gas during exploratory drilling off the coast of western Australia. San Ramon- based Chevron's Australian subsidiary is operating the project and owns 50 percent, with units of Royal Dutch Shell and Exxon Mobil Corp. each holding 25 percent.
BUSINESSES CAUTIOUS: U.S. companies remained cautious in September and held back on orders for long-lasting manufactured goods that signal investment plans. THE NUMBERS: Total orders for durable goods rose 9.9 percent in September because of a sharp gain in volatile aircraft orders.
WICHITA, Kan.-- Spirit AeroSystems will book $590 million in charges during the third quarter because of setbacks in several aircraft contracts, sending shares of the aviation supplier tumbling 24 percent.