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Latest Business News Wires - Business Headlines

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  • NEW YORK/ LONDON, Oct 29- Arabica coffee futures trading on ICE turned higher after hitting a four-month low on Monday, on concern about possible flooding in areas where stocks are stored on the U.S. East Coast and as the market approached a key support level.

  • Oct 29- Hurricane Sandy, located about 110 miles southeast of Atlantic City, New Jersey, and about 175 miles south-southeast of New York City, is expected to make landfall early Monday evening, the U.S. National Hurricane Center said in its latest bulletin. ``Sandy is now moving toward the northwest near 28 miles per hour.

  • DETROIT, Oct 29- Chrysler Group LLC posted an 80 percent rise in quarterly net income on Monday on the back of stronger new vehicle sales, continuing the U.S. automaker's comeback from its 2009 bankruptcy. Chrysler, majority owned by Italy's Fiat SpA, also reaffirmed its outlook for the year.

  • Google unveils first 10-inch Nexus tablet Monday, 29 Oct 2012 | 6:03 PM ET

    SAN FRANCISCO, Oct 29- Google Inc unveiled a larger version of its Nexus-branded tablet computer on Monday, and updated its mobile gadget and online content offerings as competition with Apple Inc, Amazon.com Inc and Microsoft Corp heats up ahead of the holiday sales season.

  • Reuters World News Highlights 1800 GMT Oct 29 Monday, 29 Oct 2012 | 6:00 PM ET

    WASHINGTON- With one week left in the tight battle for the White House, it's all about the vital swing state of Ohio. MADRID/ ROME- Spanish Prime Minister Mariano Rajoy kept financial markets guessing on Monday over whether he will seek a credit line from the euro zone's rescue fund but said he would do so ``when I think it is in the interests of Spain''.

  • LONDON, Oct 29- The departure of Anglo American's chief executive has revived talk of radical ways for the miner to boost its flagging share price, even going as far as a break-up of the group.

  • *New York, Philadelphia and Washington in its path. NEW YORK/ REHOBOTH BEACH, Del., Oct 29- Hurricane Sandy, one of the biggest storms ever to hit the United States, began battering the densely populated East Coast on Monday, shutting down transportation, forcing evacuations in flood-prone areas and interrupting the presidential campaign.

  • WASHINGTON, Oct 29- The U.S. Labor Department said on Monday it intends to release the October employment report as scheduled on Friday despite disruption from Hurricane Sandy, delivering the final update on the country's battered jobs market before the Nov. 6 election.

  • DETROIT, Oct 29- Ford Motor Co tumbled to nearly the bottom of an annual survey of vehicle reliability due to flaws in its touch-screen navigation and entertainment system, while Japanese rival Toyota Motor Corp swept the top three spots. Scion, Toyota's youth-oriented brand, kept its place as the most reliable brand.

  • BATS says to close its markets on Tuesday Monday, 29 Oct 2012 | 5:36 PM ET

    NEW YORK, Oct 29- BAT Global Markets, the No. 3 U.S. stock exchange, said on Monday its U.S. markets will be closed on Tuesday due to Hurricane Sandy, following a coordinated decision made by regulators and industry executives.

  • Oct 29- S&P said on Monday the S&P/Case-Shiller home price index will be released at 9:00 am ET on Tuesday, Oct. 30, as scheduled.

  • Oct 29- U.S. stock market executives, regulators and brokers have agreed to close the U.S. stock markets on Tuesday because of Hurricane Sandy, with an official announcement coming shortly, said people who were on an industry-wide call on the matter on Monday.

  • *U.S. East Coast refineries shutting ahead of hurricane. *Hurricane expected to hit U.S. East Coast later Monday. NEW YORK, Oct 29- U.S. gasoline futures rallied even as Brent and U.S. crude retreated on Monday as over two-thirds of the East Coast refining sector shut down ahead of Hurricane Sandy.

  • Stock market seen closed Tuesday: source Monday, 29 Oct 2012 | 5:04 PM ET

    NEW YORK, Oct 29- The U.S. stock market is expected to be closed on Tuesday because of Hurricane Sandy, a source said on Monday. The decision to close markets for a second straight day because of the storm was made during a call between industry executives and regulators, said one person who was on the call. An official announcement was expected shortly.

  • U.S. stock market to be closed on Tuesday -sources Monday, 29 Oct 2012 | 4:58 PM ET

    NEW YORK, Oct 29- U.S. stock market executives, regulators and brokers have agreed to close the U.S. stock markets on Tuesday, with an official announcement coming shortly, people who were on an industry-wide call on the matter said on Monday.

  • NOVO-OGARYOVO, Russia, Oct 29- Russia's Gazprom committed more than $38 billion to develop an East Siberian gas field and build a pipeline to the Pacific port of Vladivostok to lessen its reliance on exports to Europe and develop Asian markets.

  • *Petronas-Progress extend closing by 30 days to Nov. 30. KUALA LUMPUR, Oct 29- Malaysian state oil company Petronas said on Monday it has extended the closing date on its bid for Canadian gas producer Progress Energy Resources until Nov. 30, as it works to overturn the Canadian government's rejection of the proposed deal.

  • Oct 29- The Florida Department of Health has temporarily suspended compounding operations at a pharmacy, the latest in a growing number of closings since a deadly meningitis outbreak caused by contaminated drugs in a Massachusetts facility.

  • European shares fall as hurricane batters insurers Monday, 29 Oct 2012 | 4:34 PM ET

    LONDON, Oct 29- European stocks fell on Monday, led by insurers on expectations the sector will see profits hit hard by clean-up costs resulting from a huge hurricane nearing the United States.

  • LONDON, 29- Britain's Pearson and Germany's Bertelsmann are to merge their publishers Penguin and Random House, aiming to gain the upper hand in their relationship with Amazon and Apple, the leaders in the ebook revolution.