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Latest Business News Wires - Business Headlines


  • WRAPUP 2-Oil companies struggle to increase output Thursday, 1 Nov 2012 | 7:09 PM ET

    Third-quarter results from Exxon Mobil, Royal Dutch Shell and other top international players released over the past few days mostly beat expectations thanks to a shortage of the fuels and other crude-oil based products they make.

  • NEW YORK/ BEIJING, Nov 1- Asia's large economies started to pick up steam last month after a year of slower growth, surveys showed on Thursday, while U.S. manufacturing showed modest improvement.

  • *Ford October sales edge up; Toyota's up 16 pct. While General Motors Co and Chrysler Group LLC both reported their strongest sales for October since the 2007-09 financial crisis, the massive storm that hit the U.S. East Coast took as much as 30,000 vehicle sales out of the mix.

  • *Data on China's factories, U.S. jobs boost global equities U.S. NEW YORK, Nov 1- Global stocks gained on Thursday on an improving U.S. jobs picture and data that showed China's economy regaining some traction, while U.S. crude futures were lifted by the supportive economic news and a drop in crude inventories.

  • *Canada keen to diversify exports away from United States. OTTAWA, Nov 1- Canada and the European Union still have plenty of work to do on a proposed free trade treaty that is supposed to be finished by the end of the year, officials from both sides said on Thursday.

  • CHICAGO, Nov 1- The big-bank dominated model for privately traded derivatives is broken and those in the futures business argue that the fix is in Chicago. The Libor revelations show that the banks have ``victimized'' buy-side firms. ``This is a transformational event.'' Going forward, ``I think the solution is going to be found in Chicago and the Chicago community.

  • Nov 1- Consolidated Edison Inc said Thursday most of its customers in New York City and Westchester County, New York, will have power back by Nov. 10-11, after Hurricane Sandy slammed into the U.S. East Coast earlier in the week, causing widespread damage and flooding. The New York utility said it expected to restore power in lower and mid- Manhattan by Saturday, Nov. 3.

  • WASHINGTON, Nov 1- CACI International Inc's shares surged more than 5 percent on Thursday, a day after the provider of services and systems to the U.S. government reported strong quarterly earnings and said it expects to continue to grow despite the difficult U.S. budget environment.

  • LONDON, Nov 1- Norwegian shipper Golar LNG made big waves on Thursday by ordering its first floating liquefied natural gas plant, an innovation that analysts said could loosen the grip on LNG production enjoyed by oil majors.

  • NEW YORK, Nov 1- U.S. money markets showed signs of returning to normal on Thursday after a devastating storm disrupted major markets earlier this week and caused Wall Street firms, U.S. banks and companies to scramble for cash.

  • At the heart of the problem is the fact that Sandy has devastated the energy industry's ability to move fuel into and around the New York City region, particularly the harbor, by any of the three means that normally supply the area: tanker imports from abroad; pipeline shipments from the U.S. Gulf Coast; or refinery production from the mid- New Jersey area.

  • CALGARY, Alberta, Nov 1- Suncor Energy Inc said on Thursday that rising light oil production threatens the profitability of a massive new upgrading facility planned by Canada's dominant oil sands producer as it delayed plans to expand output from the world's third-largest oil reserve.

  • WASHINGTON, Nov 1- The federal government will cover 100 percent of emergency power and public transportation costs through Nov. 9 for the areas of New York and New Jersey that were hit hard by superstorm Sandy, according to the U.S. senators of the two states.

  • Nov 1- Disaster modeling company Eqecat now estimates that monster storm Sandy caused up to $20 billion in insured losses and $50 billion in economic losses in the United States, the company said on Thursday.

  • *Public anger in Greece at tax evasion by wealthy. ATHENS, Nov 1- A journalist on trial for publishing the names of more than 2,000 Greeks with Swiss bank accounts accused politicians on Thursday of hiding the truth and protecting an ``untouchable'' wealthy elite.

  • *PM, on Nov 3-11 Asian trip, will say Canada open for business. OTTAWA, Nov 1- Prime Minister Stephen Harper will promote Canada as open for business during a Nov. 3-11 trip to Asia, although he is not likely to unveil long-awaited guidelines for foreign takeovers of Canadian firms, an aide said on Thursday.

  • NEW YORK, Nov 1- Brent crude oil edged lower on Thursday on the restarting of North Sea production and euro zone economic concerns, while U.S. gasoline seesawed as support from supply shortages after super storm Sandy was countered by bearish news of rising inventories.

  • BUSINESS-NEWS-SCHEDULE AT 1830 GMT / 2.30 PM ET Thursday, 1 Nov 2012 | 6:32 PM ET

    NEW YORK- Huge logistical problems from power failures and navigational hazards roil the massive New York Harbor oil hub in the wake of Hurricane Sandy, threatening widespread delays in fuel deliveries off the New York Mercantile Exchange's futures contracts (STORM-SANDY/CME-DELIVERIES, moving shortly, 800 words).

  • UPDATE 2-Hillshire Brands Q1 earnings beat estimates Thursday, 1 Nov 2012 | 6:31 PM ET

    *Q1 EPS of $0.51 tops Wall St view of $0.33 a share. Nov 1- Hillshire Brands Co reported a first-quarter net profit on Thursday that exceeded Wall Street estimates by a wide margin, helped by strength in its retail business, and its shares rose 4.3 percent.

  • UPDATE 4-BCE profit falls on taxes, shares slip Thursday, 1 Nov 2012 | 6:29 PM ET

    *Q3 EPS C $0.74 vs C $0.83 a year earlier. Nov 1- BCE Inc, Canada's biggest telecom provider, said on Thursday its quarterly profit fell from a year earlier, when lower tax expenses boosted results, and its shares dropped despite strong wireless and media results.