Latest Business News Wires - Business Headlines


  • MADRID, Oct 26- One in four Spanish workers were without a job in the third quarter of this year, a record high, and further layoffs are likely to follow next year as more of the country's 60 billion euro programme of budget austerity kicks in.

  • Newell Rubbermaid reorganizing, cutting jobs Friday, 26 Oct 2012 | 7:52 AM ET

    NEW YORK-- Newell Rubbermaid plans to cut more than 1,900 jobs, or about 10 percent of its worldwide workforce, over the next two and a half years. Newell Rubbermaid also said that its business will be restructured under two groups, a development organization and a delivery organization.

  • European shares dented by glum corporate outlooks Friday, 26 Oct 2012 | 7:48 AM ET

    LONDON, Oct 26- European equity markets eased on Friday, weighed down by a fresh batch of gloomy corporate outlooks with demand for everything from cars to building materials hit by the euro zone crisis.

  • LONDON, Oct 26- European shares opened lower following a weak session in Asia as lacklustre earnings from tech giant Apple undermined confidence ahead of American growth data due later on Friday.

  • TOKYO, Oct 26- Japan unveiled plans on Friday to list shares of state-owned Japan Post Holdings Co, which runs the country's biggest savings institution, within three years to raise money to rebuild areas devastated by last year's quake, tsunami and nuclear crisis.

  • Pig welfare has a price for Europe's pork lovers Friday, 26 Oct 2012 | 7:30 AM ET

    PARIS, Oct 26- Europe's pregnant pigs will be happier next year but pork eaters will pay more and some breeders will go out of business as new porcine welfare rules compound the spiraling cost of the cereals for animal feed.

  • Merck 3Q profit up 2 pct despite sales decline Friday, 26 Oct 2012 | 7:29 AM ET

    The company also narrowed its 2012 profit forecast to a range of $2.08 to $2.24 per share, from $2.04 to $2.30. Merck, based in Whitehouse Station, N.J., said net income was $1.73 billion, or 56 cents per share. Excluding acquisition, integration and restructuring charges totaling $1.2 billion, net income was $2.93 billion, or 95 cents per share.

  • Goodyear Tire 3Q net income falls 32 percent Friday, 26 Oct 2012 | 7:27 AM ET

    DETROIT-- Shares of Goodyear Tire& Rubber Co. fell more than 10 percent on Friday as the company's third-quarter net income and revenue dropped on lower tire sales in Europe. The Akron, Ohio, company's results fell short of Wall Street's expectations as problems in Europe offset cost cuts and profits in North America.

  • Comcast 3Q profit, sales top Street on upbeat subs Friday, 26 Oct 2012 | 7:09 AM ET

    PHILADELPHIA-- Cable giant Comcast Corp., the nation's largest provider of TV and high-speed Internet services, more than doubled its net income in the third quarter, helped by fewer cancelations of video service than expected and by breaking even on the expensive-to-produce London Olympics.

  • SINGAPORE, Oct 26- Brent futures fell more than $1 on Friday to slip below $108 a barrel, as investors waited for key U.S. economic data to gauge the demand growth outlook for oil, with rising supplies weighing on prices. Brent crude had slipped as low as $107.40 a barrel and traded at $107.67 by 0648 GMT. U.S. oil slipped 76 cents to $85.29, after ending up 32 cents.

  • HONG KONG, Oct 26- Mainland China shares closed at three-week lows on Friday, posting their first weekly slip in four with growth-sensitive sectors leading losses after Chinese media reported that fund managers were pessimistic about the fourth quarter.

  • LONDON, Oct 26- European equity markets eased on Friday, weighed down by a fresh batch of gloomy corporate outlooks as demand for everything from cars to building materials is crippled by the euro zone economic crisis.

  • SINGAPORE, Oct 26- Gold dropped more than half a percent in volatile trade on Friday, heading for its third week of decline after shares fell in Asia and the U.S. dollar firmed, while persistent fears about the health of the global economy also dragged. Gold hit a high for the day at $1,714.65 an ounce before slipping to $1,702.96 by 0618 GMT, down $8.23.

  • *Pilgrim's Pride returns to profit in 3rd quarter Friday, 26 Oct 2012 | 6:50 AM ET
  • JGBs gains on weak corporate earnings, China worries Friday, 26 Oct 2012 | 6:46 AM ET

    Those worries weighed on risky assets, with Tokyo's Nikkei share average down 1.4 percent and the MSCI index of Asia-Pacific shares outside of Japan off 1.2 percent, while boosting the appeal of safe haven assets, such as government bonds.

  • FOREX-Dollar slips after hitting 4-month high vs yen Friday, 26 Oct 2012 | 6:43 AM ET

    TOKYO/ SYDNEY, Oct 26- The yen steadied in Asian trading after hitting a four-month low against the dollar early Friday, but it was still on track for a second week of losses as markets geared up for the Bank of Japan to ease policy next week. The dollar was down about 0.4 percent at 79.99 yen after rising as high as 80.38 yen early in the session.

  • TOKYO, Oct 26- Japan's Nikkei share average was knocked off a four-week high on Friday on concern that Chinese funds face heavy redemptions after a poor quarterly performance, and as disappointing earnings from Fanuc Ltd dragged.

  • Apple disappointment weighs on markets Friday, 26 Oct 2012 | 6:37 AM ET

    Both firms reported losses after the market close on Thursday, contributing to a sour trading session in Asia. The downbeat mood carried over to Europe and is likely to dominate when Wall Street opens later.

  • LONDON, Oct 25- International oil company BP, weakened and distracted by its troubles in the United States and Russia, is in danger of losing touch with the leaders in an industry where strength and focus yield the richest pickings. ``I can't help thinking they've sort of lost their way.'' Everywhere you look, they're falling behind, `` said a senior executive of one rival this week.

  • *Iran to seek more coking coal as steel imports banned. Despite the setbacks, industry sources say producers in Ukraine are providing Iran with coking coal, also known as metallurgical coal, and coke- key steel ingredients.