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Latest Business News Wires - Business Headlines


  • WASHINGTON, Nov 2- The long, bumpy road to America's ``fiscal cliff'' has been traced over many years by Congress and successive U.S. presidents. Now, crucial deadlines loom at year-end on major budget and tax issues, a convergence of problems Federal Reserve Chairman Ben Bernanke dubbed a ``fiscal cliff.'' Will lawmakers rise to the challenge?

  • WASHINGTON, Nov 2- After the Nov. 6 elections, Congress and the White House will face tough decisions on tax rates, tax breaks and budget cuts in a convergence of high-stakes deadlines that Federal Reserve Chairman Ben Bernanke dubbed a' massive fiscal cliff.'.

  • FACTBOX-20 key players in U.S. 'fiscal cliff' drama Friday, 2 Nov 2012 | 10:59 AM ET

    WASHINGTON, Nov 2- After the Nov. 6 elections, urgent tax and spending issues must be addressed, forcing Washington's power players to make some tough decisions before the end of the year. Regardless of who wins the Nov. 6 presidential election, Obama will be in the White House during the final months of 2012 when the ``fiscal cliff'' must be dealt with.

  • LONDON, Nov 2- World shares were steady near two-week highs and the dollar at a seven-week high ahead of U.S. jobs data that will provide the last major signal on the state of the world's leading economy before its voters pick a president on Tuesday.

  • LONDON, Nov 2- Euro zone manufacturing shrank for the 15th month running in October as output and new orders fell, a survey showed on Friday, fuelling expectations of further easing from the European Central Bank.

  • UPDATE 1-Europe approves high-price gene therapy Friday, 2 Nov 2012 | 10:43 AM ET

    *European Commission clears Glybera for ultra rare disease. The formal clearance from the European Commission paves the way for a launch next summer of the treatment for an ultra rare genetic disease that will cost around 1.2 million euros per patient, a new record for pricey modern medicines.

  • Hess 3Q net income jumps on higher production Friday, 2 Nov 2012 | 10:43 AM ET

    NEW YORK-- Hess Corp. nearly doubled its third quarter profits as the company resumed operations in Libya and ramped up production in giant Bakken shale play. The New York company breezed past Wall Street expectations and shares rose 4 percent in early trading.

  • Va. port receives NY cargo diverted by superstorm Friday, 2 Nov 2012 | 10:41 AM ET

    NORFOLK, Va.-- The Port of Virginia has started receiving cargo diverted from the Port of New York and New Jersey because of Superstorm Sandy. The U.S. Coast Guard opened the Port of New York and New Jersey on Thursday on a restricted basis to get gasoline and fuel to the areas hit hardest.

  • Judge dismisses lawsuit over Del. prevailing wage Friday, 2 Nov 2012 | 10:39 AM ET

    WILMINGTON, Del.-- A Delaware judge has dismissed a lawsuit challenging the state Labor Department's determination that a company must pay its employees the state's prevailing wage rates.

  • LONDON, Nov 2- Copper prices slipped on Friday, and were on course for their fourth weekly drop, as uncertainty about economic growth and the outlook for demand kept investors cautious ahead of the release of labour market data from the United States.

  • Mass. city takes next step in casino process Friday, 2 Nov 2012 | 10:38 AM ET

    SPRINGFIELD, Mass.-- Springfield, Mass. is moving on to the second phase of its casino selection process. They are MGM Resorts International, Penn National Gaming Inc., and Ameristar Casinos Inc.. Springfield Mayor Domenic Sarno appointed a seven-member advisory committee Thursday to help review applications.

  • Markets unmoved by upbeat US jobs news Friday, 2 Nov 2012 | 10:37 AM ET

    The Labor Department reported that the U.S. economy generated 171,000 jobs in October, higher than the 125,000 or so expected in the markets. "The data is clearly risk positive, although some may argue that it hurts Romney's chances, which neutralizes some of the risk impact," said Alan Ruskin, an analyst at Deutsche Bank.

  • By Radu Marinas and Sam Cage and Justyna Pawlak and Raissa Kasolowsky. BUCHAREST/ BRUSSELS/ DUBAI, Nov 2- Two months into anti-government protests in Syria last year, as the military crackdown grew more vicious, the European Union and United States introduced sanctions against President Bashar al-Assad, his security chiefs and members of his family.

  • Cuba's oil hopes hit by another unsuccessful well Friday, 2 Nov 2012 | 10:33 AM ET

    *Scarabeo 9 drilling rig leaving Cuba for West Africa. Communist Party newspaper Granma reported that a well drilled off western Cuba by Venezuelan state oil company PDVSA had been plugged because it ``did not offer possibilities of commercial exploitation.''.

  • China c.bank says to prioritise economic growth Friday, 2 Nov 2012 | 10:31 AM ET

    BEIJING, Nov 2- China's central bank will keep monetary policy prudent and money supply reasonable to prioritise the job of encouraging economic growth, the bank's latest monetary policy report showed on Friday.

  • Higher prices, volumes lift spirits seller Beam Friday, 2 Nov 2012 | 10:23 AM ET

    DEERFIELD, Ill.-- Higher prices and volumes are lifting spirits company Beam Inc.. It used to be called Fortune Brands Inc., but spun off Fortune Brands Home& Security in October 2011 and renamed itself after its flagship bourbon brand.

  • CO budget plan focuses on investments, not cuts Friday, 2 Nov 2012 | 10:17 AM ET

    John Hickenlooper's budget proposal released Thursday includes more funding for education, more Medicaid spending, and pay increases for state employees for the first time in five years. "The Colorado economy is rebounding substantially, but we are still not there in total number of jobs," said Henry Sobanet, the governor's chief economist.

  • US stocks are mixed following October jobs report Friday, 2 Nov 2012 | 10:16 AM ET

    In the last big piece of economic news before Tuesday's presidential election, the Labor Department said employers added 171,000 jobs last month, while the unemployment rate ticked up to 7.9 percent. Stocks in Europe and the U.S. rose after the report was released at 8:30 a.m. Eastern time, then gave back much of those gains.

  • *North Sea supply expected to return, Angolan force majeure. LONDON, Nov 2- Oil fell on Friday as weak European data reinforced a gloomy picture for the demand outlook, with investors nervous ahead of U.S. non-farm payrolls data. Brent crude for December was down 31 cents to $107.86 a barrel by 0943 GMT, while U.S. crude for December was down 80 cents at $86.29.

  • Playboy to debut in India with new club Friday, 2 Nov 2012 | 10:13 AM ET

    MUMBAI, India-- India is set to get its first Playboy club next month, with demurely dressed bunnies and a focus on glamour instead of sex. PB Lifestyle chief executive Sanjay Gupta says he will recast the Playboy brand so that it doesn't offend conservative Indian sensibilities.