Latest Business News Wires - Business Headlines


  • Oct 24- Barnes& Noble Inc said on Wednesday that customers who shopped at 63 of its stores as recently as last month may have had their credit or debit card information stolen in what the U.S. bookstore chain called a ``sophisticated criminal effort.''.

  • *Sugar market awaits crush update from Brazil's Unica. LONDON, Oct 24- ICE raw sugar turned higher on Wednesday, lifting off a three-week low as traders positioned themselves ahead of a report from Brazilian cane industry association Unica due later in the day.

  • OTTAWA, Oct 24- The Bank of Canada halved its forecast for third-quarter economic growth in Canada to 1.0 percent, annualized, on Wednesday and said the degree of slack in the economy had widened, suggesting rate hikes could come later than thought.

  • *Now sees FY rev $3.79- $3.82 billion vs prior $3.8- $3.9 bln. Oct 24- Jones Group Inc, the apparel company behind such brands as Nine West and Jones New York, lowered its full-year sales forecast on Wednesday, saying it expects shoppers to continue to demand bargains during the holiday season.

  • US crude stocks rise sharply, oil products mixed-EIA Wednesday, 24 Oct 2012 | 2:43 PM ET

    NEW YORK, Oct 24- U.S. crude oil stocks rose sharply last week as imports increased and refinery utilization fell, government data showed on Wednesday. Domestic stocks of crude rose by 5.9 million barrels in the week to Oct. 19, the Energy Information Administration reported.

  • Oct 24- Tech bloggers and other reviewers praised Microsoft Corp's new Surface RT tablet for beautiful design but said a shortage of applications and a slow operating system meant the result was heartbreak for users.

  • NEW YORK, Oct 24- The euro edged lower against the dollar and yen on Wednesday on signs of further decline in the economy of regional powerhouse Germany, but global shares rebounded slightly after Tuesday's hefty fall.

  • *Comparing US Fed's views on economy, spending Wednesday, 24 Oct 2012 | 2:42 PM ET
  • Oct 24- Marathon Oil Corp said on Wednesday it is in negotiations to sell a portion of its 20 percent stake in the Athabasca Oil Sands Project in Canada as part of a strategy to shed less profitable assets. No sale of the non-operated Athabasca interest can be assured, Houston- based Marathon said.

  • Panama drops money laundering case vs US pilots Wednesday, 24 Oct 2012 | 2:39 PM ET

    HOUSTON-- Two Texas pilots who were arrested in Panama on suspicion of money laundering headed home for good Wednesday after authorities decided there is no case against them, their employer said. Carl Moody and Kenneth Chonoski were arrested after landing in Panama in May last year.

  • *Production to be transferred to Spain. GENK, Belgium/ MADRID, Oct 24- Ford Motor Co will close a Belgian factory employing more than 4,000 workers, shifting production to Spain as the U.S. automaker scrambles to cut costs and stem European losses.

  • *Boeing climbs after earnings, outlook. NEW YORK, Oct 24- U.S. stock edged higher on Wednesday after data from China and Boeing provided temporary relief to a slumping market, following a retreat Tuesday when the Dow Jones industrial average suffered its biggest drop in four months.

  • Altera slumps on forecast of 4Q revenue decline Wednesday, 24 Oct 2012 | 2:37 PM ET

    NEW YORK-- Altera tumbled in afternoon trading Wednesday after the chipmaker gave a disappointing fourth-quarter revenue forecast. Altera's net income sank 3 percent in the quarter ended Sept. 28, to $161.2 million, or 49 cents per share.

  • Rural Media Group buys another cable network Wednesday, 24 Oct 2012 | 2:36 PM ET

    OMAHA, Neb.-- The Rural Media Group has purchased another cable network to expand its programming into more markets. Rural Media produces RFD-TV and Rural TV with rural-themed programming. The deal gives the company access to several major markets, including New York, Chicago, Atlanta, Dallas and Los Angeles.

  • Trump offers $5 million if Obama releases records Wednesday, 24 Oct 2012 | 2:35 PM ET

    NEW YORK-- Donald Trump wants to make a deal with President Barack Obama. If Obama releases his college and passport records by the end of October, the New York real estate mogul and reality show host says he will contribute $5 million to a charity of the president's choice.

  • Goldman Sachs upgrades Dollar Tree Wednesday, 24 Oct 2012 | 2:32 PM ET

    Dollar Tree is a wise bet for investors both near- and long-term, according to Goldman Sachs, given that shares of the discount retailer have tumbled 31 percent since June. Dollar Tree also has a long history of delivering consistent growth regardless of the broader economy, Grambling said in a research note Tuesday.

  • *Rural Media Group buys another cable network Wednesday, 24 Oct 2012 | 2:32 PM ET
  • Basel official defends new global bank capital rules Wednesday, 24 Oct 2012 | 2:30 PM ET

    LONDON, Oct 24- A simple approach to reining in risks at banks would fail to capture the complexity of modern day lenders, a top global regulator said.

  • LONDON, Oct 24- Brent crude oil steadied around $108 per barrel on Wednesday after a six-day losing streak as weak European data offset earlier strength prompted by signs that Chinese demand could stage a recovery. Manufacturing PMI in Germany, Europe's largest economy, fell unexpectedly, while business sentiment dropped for the sixth consecutive month.

  • Text of the Federal Reserve's statement Wednesday Wednesday, 24 Oct 2012 | 2:23 PM ET

    WASHINGTON-- Below is the statement the Federal Reserve released Wednesday after the U.S. central bank's two-day policy meeting:. Information received since the Federal Open Market Committee met in September suggests that economic activity has continued to expand at a moderate pace in recent months.