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Latest Business News Wires - Business Headlines

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  • Reuters World News Highlights 1400 GMT, Oct 26 Friday, 26 Oct 2012 | 2:11 PM ET

    NASSAU- Hurricane Sandy pounded the Bahamas with battering winds and rain on Friday, sweeping over the island chain after killing 21 people across the Caribbean and posing a menacing threat to the U.S. East Coast.

  • Citi fires analyst, pays fine over Facebook leak Friday, 26 Oct 2012 | 2:06 PM ET

    NEW YORK-- The young Citigroup analyst was researching Facebook before it went public. Friday, Massachusetts' top securities regulator dragged the incident into the spotlight, slapping Citigroup with a consent order and charging the bank $2 million for failing to oversee its employee.

  • UPDATE 7-Oil rises to $109 on U.S. economy, storm Friday, 26 Oct 2012 | 2:06 PM ET

    LONDON, Oct 26- Oil recovered from an earlier decline on Friday to trade above $109 a barrel as data showing a pick-up in U.S. economic growth in the third quarter provided some relief from concerns about the global demand outlook. Brent crude was up 69 cents to $109.18 a barrel by 1348 GMT, having fallen to as low as $107.40 earlier.

  • Oct 26- Ally Financial Inc's banking subsidiary said on Friday that it was looking to sell most of its remaining mortgage business, the company's latest step toward exiting the home loan business to focus on its U.S. auto lending and banking operations.

  • Oct 26- Oshkosh Corp's board unanimously rejected billionaire investor Carl Icahn's offer to buy the specialty truck maker, calling the bid ``inadequate,'' the company said on Friday.

  • FDA: Mold, bacteria at pharmacy tied to outbreak Friday, 26 Oct 2012 | 2:04 PM ET

    WASHINGTON-- Federal health inspectors say they found bacteria and mold growing in rooms that were supposed to be kept sterile at the pharmacy linked to a deadly outbreak of meningitis. The Food and Drug Administration has released its initial report after investigating the New England Compounding Center in Framingham, Mass., earlier this month.

  • Md. suspends enforcement of blue crab harvest time Friday, 26 Oct 2012 | 2:03 PM ET

    ANNAPOLIS, Md.-- The Maryland Department of Natural Resources says it will not enforce times for removing crabs from commercial pots so fishermen can prepare for Hurricane Sandy. The DNR says from Friday through Monday, fishermen may keep crabs removed from crab pots during this period, as well as the mandatory days off Sunday and Monday.

  • Wealthy siblings become forces in Calif. politics Friday, 26 Oct 2012 | 2:02 PM ET

    SACRAMENTO, Calif.-- Charles Munger Sr. is best known as Warren Buffett's right-hand man, an investor who has turned his skill at picking winning companies into a billion-dollar fortune. He has passed some of his passion on to his children, two of whom are using their considerable fortune to transform California's political landscape this year.

  • Oct 26- Consumer products maker Newell Rubbermaid Inc said it will cut about 2,000 jobs, or slightly more than 10 percent of its staff, over the next 2-1/ 2 years, joining a slew of U.S. companies trying to counter slowing sales by reducing costs.

  • Comcast CEO expresses condolences to Krim family Friday, 26 Oct 2012 | 1:59 PM ET

    NEW YORK-- The CEO of Comcast, the country's largest cable company, has expressed his condolences to the family of employee Kevin Krim, after two of his children were stabbed to death Thursday. On a Friday conference call about Comcast's quarterly finances, CEO Brian Roberts said the company "will do everything we can to support the family in their awful time."

  • NEW YORK, Oct 26- U.S. consumer sentiment rose to its highest level in five years in October as Americans were more upbeat about prospects for the economy and their own finances, a survey released on Friday showed. The Thomson Reuters/ University of Michigan's final reading on the overall index on consumer sentiment rose to 82.6 from 78.3 in September.

  • Dollar rises on report of pickup in US growth Friday, 26 Oct 2012 | 1:58 PM ET

    The Commerce Department said the economy grew at a 2 percent annual rate from July through September, thanks to higher spending by consumers and the federal government. The euro fell to $1.2932 in late trading Friday from $1.2949 late Thursday. The dollar rose to 0.9352 Swiss franc from 0.9343 Swiss franc and to 99.88 Canadian cents from 99.40 Canadian cents.

  • LONDON, Oct 26- Following are five big themes likely to dominate the thinking of investors and traders in the coming week and the Reuters stories related to them. Spain's bailout intentions therefore still have plenty of scope to trigger moves across financial assets. >Santander urges Spain to seek bailout.

  • Oil flat as massive storm aims for East Coast Friday, 26 Oct 2012 | 1:57 PM ET

    The price of oil is little changed as data show the U.S. economy is muddling along and a big storm threatens the East Coast. Forecasters expect a so-called "Frankenstorm" to hit the East Coast beginning early Sunday with heavy rain, winds and perhaps snow lingering into Halloween.

  • 6 European countries pull Novartis flu vaccines Friday, 26 Oct 2012 | 1:56 PM ET

    BERLIN-- Six European countries have ordered a temporary ban on the import or use of some Novartis flu vaccines. Austria, France, Germany, Italy, Spain and Switzerland have limited the use of Fluad or Aggripal, or both, after the company reported the appearance of small particles in the vaccine to Italian authorities.

  • Shares of WhiteWave open at $19 Friday, 26 Oct 2012 | 1:56 PM ET

    Oct 26- WhiteWave Foods Co shares rose almost 12 percent in their New York Stock Exchange debut on Friday, as investors bet on the growth of the organic foods sector. Shares of the Dallas, Texas- based Dean Foods Co spinoff opened at $19, up 11.8 percent, after pricing at $17, above the expected range.

  • Anglo's outgoing CEO warns against "token women" Friday, 26 Oct 2012 | 1:56 PM ET

    *Carroll exit leaves two female CEOs in FTSE 100. LONDON, Oct 26- Mining giant Anglo American's outgoing chief executive Cynthia Carroll, only the third woman to take the helm of a FTSE 100 company, warned on Friday that calls for quotas to diversify Europe's boardrooms could reduce women to a token presence.

  • *Copper arb window opened but China demand slow- traders.

  • Report: Mass. economy grows slower than US in 3Q Friday, 26 Oct 2012 | 1:50 PM ET

    BOSTON-- A new report finds the Massachusetts economy slowed sharply in the third quarter. According to the economic journal MassBenchmarks, the state's real gross domestic product grew by 1.9 percent from July-September, placing it slightly below the nation's growth rate of 2 percent as reported by the U.S. Commerce Department.

  • Appeals court overturns $3 million fraud award Friday, 26 Oct 2012 | 1:49 PM ET

    The U.S. 6th Circuit Court of Appeals upheld a decision that businessman Ronald Stone no longer owed money to Randall Scott Waldman and attorney Bruce Atherton of Louisville. Stone's company owed Fifth Third Bank more than $1 million in 2003, a debt secured by mortgages and liens on the business and Stone's home.