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Latest Business News Wires - Business Headlines


  • Fitch lowers outlook on grocery chain Safeway Friday, 26 Oct 2012 | 11:46 AM ET

    NEW YORK-- Fitch Ratings lowered its outlook on Safeway Inc. to negative on Friday, citing the supermarket chain's weak sales and shrinking market share. The rating agency kept its "BBB-" long-term issuer default rating on Safeway, the country's second-largest traditional grocery chain.

  • Mich. natural gas heating bills likely to rise Friday, 26 Oct 2012 | 11:45 AM ET

    LANSING, Mich.-- Michigan utility regulators say residential heating bills for natural gas users are expected to be slightly higher this winter due to likely increased consumption. The Michigan Public Service Commission released its winter energy appraisal Friday.

  • Oil falls as massive storm aims for East Coast Friday, 26 Oct 2012 | 11:44 AM ET

    The price of oil is down slightly as the market eyes a massive storm heading for the East Coast with the potential to force refinery closures and delays in import deliveries. Benchmark oil fell 9 cents to $85.96 per barrel Friday.

  • Oct 26- Merck& Co Inc reported better-than-expected third-quarter profit, as a favorable tax rate and lower merger costs helped offset plunging sales of asthma drug Singulair, its former flagship product that began facing cheaper generics in August.

  • FDA approves Teva drug for late-stage leukemia Friday, 26 Oct 2012 | 11:41 AM ET

    WASHINGTON-- The Food and Drug Administration on Friday approved Teva Pharmaceutical's drug Synribo to treat patients with a type of blood and bone marrow cancer. An estimated 5,430 people will be diagnosed with the cancer this year, according to the National Institutes of Health.

  • LONDON, Oct 26- World shares and commodities fell as lacklustre corporate earnings reports undermined investor confidence before the release of American growth data due out later on Friday.

  • Ports eye LNG as marine fuel but shift will be slow Friday, 26 Oct 2012 | 11:40 AM ET

    LONDON, Oct 26- Ports around the world are considering liquefied natural gas as a ship fuel in a drive to reduce carbon emissions, but the shift will be slow due to the high capital costs of fitting ports and vessels and a lack of investors, industry players say.

  • Goodyear Tire profit falls on weak volumes in Europe Friday, 26 Oct 2012 | 11:40 AM ET

    Oct 26- Goodyear Tire& Rubber Co, the top U.S. tire maker, reported a lower quarterly profit as volumes fell particularly in Europe. Goodyear expects fourth-quarter tire unit volume to fall 3 percent to 5 percent from a year earlier. Net income fell to $110 million, or 41 cents per share, in the third quarter, from $161 million, or 60 cents per share, a year earlier.

  • NEW YORK, Oct 26- U.S. stock index futures fell on Friday after technology giants Apple and Amazon.com reported lackluster earnings and outlooks, and ahead of economic growth data.

  • Marathon Petroleum unit rises after IPO Friday, 26 Oct 2012 | 11:36 AM ET

    FINDLAY, Ohio-- A pipeline subsidiary of Marathon Petroleum Corp. rose in its stock market debut after raising $380.6 million in an initial public offering of its units. MPLX LP sold 17.3 million units at $22 each, above the expected range of $19 to $21, which suggested strong demand for the company.

  • Republic Airways inks aircraft deal with Caesars Friday, 26 Oct 2012 | 11:35 AM ET

    INDIANAPOLIS-- Republic Airways Holdings Inc. said Friday that it had agreed on a three-year deal with casino giant Caesars Entertainment Corp. to operate five Embraer E190 aircraft that will provide more than 1,500 flights each year for Caesars' customers.

  • HONG KONG, Oct 26- Hong Kong is to introduce new property cooling measures, including a new 15 percent tax on overseas buyers, to curb a rise in prices to increasingly unaffordable levels, Financial secretary John Tsang said on Friday.

  • HAMBURG, Oct 26- Loss-making General Motors unit Opel has not reached an agreement with its German workforce over a restructuring plan, including the planned closure of its Bochum plant, by the Friday deadline imposed by trade union IG Metall.

  • POLL-Geopolitics, monetary easing to support oil Friday, 26 Oct 2012 | 11:30 AM ET

    ``Supply risks are likely to push oil prices higher and ultra-loose monetary policy by major central banks should also increase liquidity in commodity markets and boost demand,'' said Carsten Fritsch, senior commodity analyst at Commerzbank.

  • WASHINGTON, Oct 26- The Federal Reserve's latest stimulus will not boost economic growth without creating unwanted inflation, said Jeffrey Lacker, president of the Richmond Fed and lone dissenter on the central bank's policy committee.

  • Oct 26- Chemical producer LyondellBasell Industries NV posted a 6 percent drop in quarterly profit on Friday due in part to higher costs in European operations. For the third quarter, the company reported net income fell to $846 million, or $1.46 per share, from $895 million, or $1.33 per share, in the year-ago period.

  • Romney closing argument focuses on the economy Friday, 26 Oct 2012 | 11:28 AM ET

    DEFIANCE, Ohio-- Mitt Romney is trying to close the deal with voters by focusing on their economic concerns, an area where polling shows the Republican nominee has an edge heading into the final days of the campaign.

  • *France: Lawmakers pass bill to pay for abortions Friday, 26 Oct 2012 | 11:27 AM ET
  • Looters strip Bulgaria of ancient treasures Friday, 26 Oct 2012 | 11:26 AM ET

    ARCHAR, Bulgaria-- On the banks of the Danube, in the northwest corner of Bulgaria, lie the remnants of an ancient Roman settlement called Ratiaria, host to a priceless cultural heritage.

  • Oshkosh profit rises, sales decline on defense orders Friday, 26 Oct 2012 | 11:24 AM ET

    Oct 26- Specialty truckmaker Oshkosh Corp on Friday reported higher fourth-quarter profit and reaffirmed its 2013 outlook and forecast that adjusted earnings would double by fiscal 2015..