Latest Business News Wires - Business Headlines


  • *P&G profit of $1.06/ share tops expectations of 96 cents. Oct 25- Procter& Gamble Co's profit rose more than expected, indicating that the world's largest household products maker is making progress after coming under pressure from activist investor William Ackman, and its shares soared to the highest level in four years.

  • WASHINGTON, Oct 25- U.S. business investment showed signs of stalling in September, an indication that worries over a possible sharp tightening in the federal budget are already weighing on the economy.

  • DETROIT, Oct 25- AutoNation Inc, the largest U.S. automotive retailer, posted slightly lower than expected third-quarter earnings and revenue on Thursday and its shares fell more than 7 percent. In an interview, Chief Executive Mike Jackson said the earnings miss was due to AutoNation buying back fewer shares than expected.

  • New York Times 3Q net income drops 85 percent Thursday, 25 Oct 2012 | 3:06 PM ET

    The media company, which publishes its namesake newspaper and the Boston Globe, earned $2.3 million, or 2 cents per share, in the July-September period. In the year-ago quarter, the Times Co. booked a one-time gain of $37.8 million, or 24 cents per share, from the sale of its stake in the Red Sox and other sports holdings.

  • Oct 25- CME Group Inc, the biggest operator of U.S. futures exchanges, reported a slide in third-quarter profit as investors used fewer futures and options, but it beat expectations by a penny per share due to lower expenses.

  • Oct 25- Bayerische Motoren Werke AG's BMW of North America affiliate said it will recall 7,485 of its 7 Series luxury sedans from model years 2005-2007 that may have faulty door latches. BMW said the doors may not latch due to a software problem on cars equipped with both Comfort Access and Soft Close Automatic options.

  • *Shares in Hong Kong more than halved this year. HONG KONG, Oct 25- ZTE Corp, the world's fourth-biggest maker of mobile phones and fifth-ranked telecommunications equipment manufacturer, reported its first quarterly loss- of $310 million- since listing in Hong Kong in 2004, on shredded margins, project delays and accounting changes in China.

  • Cesium in fish off Fukushima not declining Thursday, 25 Oct 2012 | 2:55 PM ET

    TOKYO-- Radioactive cesium levels in most kinds of fish caught off the coast of Fukushima haven't declined in the year following Japan's nuclear disaster, a signal that the seafloor or leakage from the damaged reactors must be continuing to contaminate the waters _ possibly threatening fisheries for decades, a researcher says.

  • Eastern utilities brace for expected super storm Thursday, 25 Oct 2012 | 2:54 PM ET

    HARTFORD, Conn.-- Utilities and governments along the East Coast are working to head off long-term power failures as forecasters predict a major storm to hit a region already skittish after foul weather in recent months that plunged residents into darkness for weeks.

  • Oct 25- Medical device maker Medtronic Inc edited health journal articles and paid doctors millions of dollars for company-sponsored studies of its Infuse bone-grafting product used in spinal surgery, according to a U.S. Senate report published on Thursday.

  • News Summary: China rare earths miner halts output Thursday, 25 Oct 2012 | 2:51 PM ET

    PRICE SUPPORT: China's biggest rare earths producer has suspended production in an effort to shore up plunging prices of the material, which is used by makers of mobile phones and other high-tech products. UNCERTAINTY: The state-owned company, Baotou Steel Rare Earth Hi-tech Co., gave no indication when production would resume.

  • On the company's third quarter earnings call, Dominion said the three plants are the 1,536- megawatt Brayton Point coal, natural gas and oil-fired plant in Massachusetts; the 1,158- MW Kincaid coal plant in Illinois; and the company's stake in the 1,424- MW Elwood gas plant in Illinois.

  • SOFTS-Raw sugar above 3-week low, arabica coffee up Thursday, 25 Oct 2012 | 2:48 PM ET

    *Large number of Brazil mills still open for crushing. LONDON, Oct 25- ICE raw sugar futures edged above a three-week low on Thursday, although the upside was capped by fast progress in Brazil's harvest and surplus supplies, while coffee and cocoa also moved higher.

  • Oct 25- The New York Times Co reported worse-than-expected results on Thursday as advertisers cut spending on both print and digital outlets, sending shares down 12 percent. Adjusting for severance costs and other special items, the company reported a quarterly loss of 1 cent per share, well below expectations of earnings of 8 cents per share.

  • With giant storm on the way, NY begins to prep Thursday, 25 Oct 2012 | 2:45 PM ET

    NEW YORK-- Stressing that there's no need to panic, New York officials are bracing for a gale-force storm expected to hit most of the U.S. East Coast next week. While it's too early for precise forecasts, New York City and New Jersey could get the worst of it. New York City Mayor Michael Bloomberg on Thursday noted the uncertainty in the forecasts.

  • Illinois' unemployment drops in all metro areas Thursday, 25 Oct 2012 | 2:44 PM ET

    CHICAGO-- The Illinois Department of Employment Security says there's good news in Illinois' latest unemployment figures. Rockford remains the Illinois metro area with the highest unemployment rate, but it dropped from 13.6 percent in September 2011 to 11 percent last month.

  • NEW YORK, Oct 25- Global shares and commodity prices rose on Thursday, pulled from a recent slide by encouraging news from Britain and China and as U.S. data helped lift investors' appetite for risk assets while not flagging any big concerns. Wall Street opened higher, following gains in European equity markets, and the dollar gained slightly against the euro.

  • Group of major CEOs urges tax hikes, spending cuts Thursday, 25 Oct 2012 | 2:42 PM ET

    WASHINGTON-- CEOs from more than 80 major U.S. companies are pressing Congress to reduce the federal deficit by raising taxes and cutting spending. The CEOs head a diverse array of corporations, including Aetna Inc., Microsoft Corp., JPMorgan Chase& Co., General Electric Co. and Dow Chemical Co..

  • News Summary: UK recession over, economy grows 3Q Thursday, 25 Oct 2012 | 2:40 PM ET

    RECESSION OVER: Britain's economy emerged from its nine-month recession in the July- September quarter, when spending on the Olympics helped it grow 1 percent. BETTER THAN EXPECTED: Economists predicted growth of 0.6 percent for the period.

  • Ford exec - state aid to carmakers not sustainable Thursday, 25 Oct 2012 | 2:39 PM ET

    DETROIT, Oct 25- Ford Motor Co's head of Europe said on Thursday that state aid to struggling carmakers would be untenable in the future, particularly during the deep economic downturn in Europe.