Latest Business News Wires - Business Headlines


  • Amtrak may restore service from NYC to Boston Thursday, 1 Nov 2012 | 7:26 PM ET

    WASHINGTON-- Amtrak may resume service between New York City and Boston on Friday if commuter rail tracks damaged by Superstorm Sandy are repaired in time, Joseph Boardman, the railroad's president, said late Thursday. The storm flooded two train tunnels under the Hudson River and four under the East River.

  • NEW YORK, Nov 1- Logistical problems caused by power failures and navigational hazards from storm Sandy continued to roil New York Harbor on Thursday, threatening widespread delays in fuel deliveries off the New York Mercantile Exchange's futures contracts.

  • *Q3 sales $13.98 billion vs forecast of $14.64 billion. Nov 1- Pfizer Inc on Thursday posted quarterly revenue well below Wall Street expectations, as sales of the pharmaceutical company's Prevnar pediatric vaccine disappointed and emerging market revenue dropped sharply.

  • *Q3 adj EPS $0.85 v Street view $0.98. TORONTO, Nov 1- Barrick Gold Corp reported a sharp drop in third-quarter profit on Thursday, nudged back the production date for its massive Pascua-Lama gold and silver mine and increased its estimate on costs.

  • Nov 1- Cable operator Cablevision Systems Corp said about half of its 3.3 million customers in the New York, Connecticut and New Jersey area had lost power in the wake of superstorm Sandy, causing widespread disruptions to its service.

  • WASHINGTON, Nov 1- Wells Fargo has gone to court to challenge a financial-crisis lawsuit recently brought against it by the Justice Department, saying a prior multi-bank $25 billion mortgage settlement already cleared it of some liability.

  • NEW YORK, Nov 1- The governors of New York, New Jersey and other states have warned insurance companies not to charge hurricane deductibles costing tens of thousands of dollars to homeowners who file claims for damage from Sandy because the massive storm was labeled a ``post-tropical storm'' by the time it hit land.

  • Greek editor acquitted in Swiss bank list trial Thursday, 1 Nov 2012 | 7:12 PM ET

    ATHENS, Nov 1- A journalist who published the names of more than 2,000 Greeks with Swiss bank accounts was acquitted on Thursday of breaking data privacy laws. ``The court has ruled that you are innocent,'' Judge Malia Volika said.

  • 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.

  • 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.