Latest Business News Wires - Business Headlines


  • OTTAWA, Oct 31- Canada is likely to extend its review of the $15.1 billion bid by China's CNOOC Ltd for oil producer Nexen Inc beyond next week's deadline to allow more time for the government to formulate a broad framework on foreign investment, two sources close to the matter said on Wednesday.

  • Amtrak plans to restore some NYC service on Friday Wednesday, 31 Oct 2012 | 5:23 PM ET

    WASHINGTON-- Amtrak says it plans to restore some service on Friday to and from New York City, which has been without intercity train service since it was walloped by superstorm Sandy.

  • Firm linked to US meningitis outbreak recalls all drugs Wednesday, 31 Oct 2012 | 5:20 PM ET

    BOSTON, Oct 31- Ameridose, the sister company to the U.S. pharmacy linked to a national outbreak of meningitis that has killed 28 people, on Wednesday announced it was recalling all its products, in a move to cooperate with U.S. and state regulators.

  • NEW YORK, Oct 31- U.S.

  • *Plaintiffs filed lawsuits in Canada and Brazil this year. QUITO, Oct 31- Ecuadorean plaintiffs plan to file a lawsuit against Chevron in Argentina, their third legal attempt outside the Andean country to enforce a $19 billion ruling against the U.S. oil company for pollution in the Amazon, a source with direct knowledge of the case said.

  • *GM expects much bigger loss in Europe this year. *Still sees Europe economy flat to slightly deteriorating. Shares of the automaker rose nearly 9 percent in afternoon trading even as it said it expected to lose as much as $1.8 billion in Europe this year.

  • CHICAGO, Oct 31- One of five policymakers on the U.S. Commodity Futures Trading Commission said on Wednesday that the CFTC fell down on the job earlier this month as it imposed, and then suspended, a key rule governing energy derivatives.

  • LONDON, Oct 31- Flagging growth prospects for the euro zone's biggest economies will prompt the European Central Bank to ease monetary policy more early next year, according to a slim majority of economists polled by Reuters.

  • *Supply rises by 60,000 bpd, led by Iraq, Angola, Libya. LONDON, Oct 31- OPEC oil output has risen slightly in October as extra supplies from Iraq, Angola and Libya have offset disruptions in Nigeria and a further decline in Iran to its lowest in two decades, a Reuters survey found on Wednesday.

  • UPDATE 2-JPMorgan sues former London Whale boss Wednesday, 31 Oct 2012 | 5:00 PM ET

    LONDON, Oct 31- JPMorgan Chase& Co is suing the former boss of Bruno Iksil, the trader known as the London Whale, for the outsized derivatives positions he took that cost the bank $6.2 billion. He added that JPMorgan has so far failed to provide details of the evidence to support its allegations, which would enable Martin-Artajo to begin the process of his defence.

  • Gains in equity markets early in the day had lifted the euro above $1.30, but momentum faded as Wall Street turned negative and uncertainty remained about how to keep Greece afloat and when Spain may ask for a bailout.

  • BOSTON, Oct 31- The U.S. Department of Homeland Security is considering setting up a ``Cyber Reserve'' of computer security experts who could be called upon in the event of a crippling cyber attack. ``The status quo is not acceptable,'' DHS Deputy Secretary Jane Holl Lute told Reuters in a recent interview. ``We are not standing around.

  • UPDATE 1-Wall Street scrambles to raise cash after Sandy Wednesday, 31 Oct 2012 | 4:53 PM ET

    *U.S. money market rates elevated after storm. NEW YORK, Oct 31- Wall Street firms and U.S. banks scrambled to raise cash on Wednesday, as U.S. financial markets resumed normal trading after a devastating storm pummeled the U.S. East Coast and closed major markets for two days.

  • European shares hit by BG production warning Wednesday, 31 Oct 2012 | 4:52 PM ET

    LONDON, Oct 31- European stocks dipped on Wednesday, led by heavyweight British oil and gas firm BG Group after it warned it would show no production growth next year. BG Group sank 13.7 percent in hefty trading volume of near sixteen times its 90- day daily average, accounting for nearly a third of the total index points fall.

  • PREVIEW-At Chesapeake Energy it's time to show, not tell Wednesday, 31 Oct 2012 | 4:45 PM ET

    *Earnings report due Nov. 1. HOUSTON, Oct 31- Chesapeake Energy Corp is under the gun to show evidence that it is changing its free-spending ways when it reports third-quarter earnings November 1. The company's largest investors, Carl Icahn and Mason Hawkins, were so unhappy with the company's bloated balance sheet that they seized control of the board in June.

  • Wind kicks up 100-year-old volcano ash in Alaska Wednesday, 31 Oct 2012 | 4:39 PM ET

    JUNEAU, Alaska-- A smog-like haze that hung over part of Alaska's Kodiak Island this week was courtesy of a volcanic eruption _ 100 years ago. The National Weather Service says strong winds and a lack of snow Tuesday helped stir up ash from the 1912 eruption of Novarupta, the largest volcanic blast of the 20th century.

  • Oct 31- Nu Skin Enterprises Inc raised its full-year forecast for the sixth time this year, encouraged by strong demand for its new anti-ageing and body spa products under the ageLOC brand. Nu Skin shares rose 11 percent to $46.70 on the New York Stock Exchange on Wednesday morning.

  • UPDATE 1-Astral Media earnings, revenue rise Wednesday, 31 Oct 2012 | 4:37 PM ET

    Oct 31- Astral Media Inc reported a higher quarterly profit on Wednesday as revenue rose across its business segments. BCE Inc, Bell Canada's parent, agreed in March to buy Astral, its largest content provider. On Wednesday afternoon, Astral shares were down 1.3 percent at C $41.30 on the Toronto Stock Exchange.

  • Price of lumber higher on storm's devastation Wednesday, 31 Oct 2012 | 4:33 PM ET

    The price of lumber is higher as residents of the Northeast evaluate the devastation caused by Superstorm Sandy. Lumber for January delivery rose $10 Wednesday to end at $331.20 per 1,000 board feet on expectations that demand will pick up because of the need to repair and rebuild houses, businesses and other structures.

  • Sandy spending hopes drive rally for recovery companies Wednesday, 31 Oct 2012 | 4:30 PM ET

    Companies like environmental cleanup specialist Clean Harbors, building supply chains Home Depot and Lowe's, building products makers Owens Corning and Beacon Roofing and generator manufacturer Generac Holdings surged in early trading, on the assumption that the recovery from Sandy will take years and boost sales.