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Latest Business News Wires - Business Headlines


  • SAN FRANCISCO, Oct 26- Pension changes recently endorsed by the Los Angeles city council don't go far enough for former Mayor Richard Riordan, who aims to put more aggressive fixes on the city's May 2013 ballot.

  • Citigroup is fined $2 million over Facebook IPO Friday, 26 Oct 2012 | 10:58 AM ET

    BOSTON-- The top securities regulator in Massachusetts has fined Citigroup $2 million for failing to supervise analysts who improperly disclosed confidential information about Facebook's initial public offering.

  • US quarterly economic growth rates under Obama Friday, 26 Oct 2012 | 10:58 AM ET
  • Ark. storage business to build facility in Joplin Friday, 26 Oct 2012 | 10:57 AM ET

    JOPLIN, Mo.-- Missouri is offering incentives for an Arkansas storage business to open a facility in Joplin. Jay Nixon's administration says Don's Cold Storage could receive more than $1.1 million under several state incentive programs to build a $14 million cold-storage and distribution center.

  • Winter moisture a must to help ease NM drought Friday, 26 Oct 2012 | 10:56 AM ET

    ALBUQUERQUE, N.M.-- Nearly all of New Mexico continues to grapple with some level of drought, and federal forecasting models show those conditions are likely to persist through January. State and federal officials reported during a drought monitoring meeting Thursday that there has been only one day of rain so far this month in the eastern half of New Mexico.

  • Blackout hits Brazil's northeast Friday, 26 Oct 2012 | 10:56 AM ET

    *Brazil investing heavily to increase energy capacity. SAO PAULO, Oct 26- A blackout affected as many as 12 Brazilian states late Thursday night and early Friday according to local media reports, the latest in a string of power shortages that have raised questions about whether Brazil's infrastructure is keeping pace with economic growth.

  • New Mexico workplace deaths way up in 2011 Friday, 26 Oct 2012 | 10:55 AM ET

    SANTA FE, N.M.-- The state Environmental Department says workplace deaths in New Mexico rose substantially in 2011.. The department says it logged a total of 51 deaths last year from 38 in 2010. The biggest increase was tallied among transportation workers, where 21 people were killed last year.

  • HMS Holdings stock tumbles after 3Q report Friday, 26 Oct 2012 | 10:55 AM ET

    NEW YORK-- HMS Holdings Corp.' s shares shed nearly a quarter of their value Friday after the medical information company said its third-quarter earnings dropped 27 percent on higher costs. The New York company earned $10.5 million, or 12 cents per share, in the three months that ended Sept. 30.

  • La. agency gets $1.3M from FEMA for Isaac costs Friday, 26 Oct 2012 | 10:54 AM ET

    NEW ORLEANS-- The Federal Emergency Management Agency has reimbursed the Louisiana Department of Public Safety for nearly $1.3 million in costs associated with its response to Hurricane Isaac.

  • Ventas 3Q FFO rises 12 percent on purchases Friday, 26 Oct 2012 | 10:53 AM ET

    CHICAGO-- Medical real estate company Ventas Inc. said Friday that its funds from operations grew 12 percent in the third quarter, buoyed by acquisitions. Ventas invests in, manages, finances and leases real estate used by health care companies.

  • Guide aims to promote export of services from Va. Friday, 26 Oct 2012 | 10:52 AM ET

    RICHMOND, Va.-- Virginia economic development officials are releasing a guide to promote the export of services from companies around the state. The guide is from the Virginia Economic Development Partnership's International Trade division.

  • Trader denies $2.3 bn fraud, says UBS was family Friday, 26 Oct 2012 | 10:51 AM ET

    LONDON-- A former UBS trader accused of losing $2.3 billion through reckless deals and deceit broke down in tears in court Friday as he insisted he had acted purely to help save the bank he considered his family. Kweku Adoboli denied fraudulent behavior as he took the stand for the first time, six weeks into his trial at London's Southwark Crown Court.

  • Coventry Health 3Q profit falls 14 pct, costs rise Friday, 26 Oct 2012 | 10:49 AM ET

    BETHESDA, Md.-- Coventry Health Care Inc.' s third-quarter net income dropped 14 percent, as the health insurer's medical costs and other expenses outweighed revenue gains from an expansion of its Medicaid business.

  • Texas electric prices cap to double over 3 years Friday, 26 Oct 2012 | 10:49 AM ET

    The maximum wholesale rate will rise from $4,500 a megawatt hour now to $5,000 in June 2013, $7,000 in June 2014 and $9,000 in June 2015. State officials have warned that higher prices are needed to encourage companies to build more power plants as the Texas population grows.

  • PRECIOUS-Gold falls with equities before U.S. GDP data Friday, 26 Oct 2012 | 10:48 AM ET

    LONDON, Oct 26- Gold fell on Friday, edging closer to seven-week lows touched earlier this week as equities came under pressure from disappointing earnings results, with the focus on U.S. third-quarter growth data due later in the day.

  • Bank VP pleads guilty to $600K embezzlement Friday, 26 Oct 2012 | 10:41 AM ET

    BALTIMORE-- A bank vice president has pleaded guilty to embezzling more than $600,000 from the institution. Fifty-six-year-old Wanda Henderson of Westover, Md. entered the plea on Thursday. According to her plea agreement, Henderson was vice president and executive assistant to the president of Hebron Savings Bank.

  • Federal judge throws out Entergy tax challenge Friday, 26 Oct 2012 | 10:40 AM ET

    U.S. District Court Judge Christina Reiss rejected the argument made by New Orleans- based plant owner Entergy Corp. that the payment is not a tax and said federal court lacked jurisdiction over the case. Reiss granted the state's motion to dismiss the case saying, Entergy's challenge "could be brought directly in Vermont's state courts."

  • Settlement reached in Miss. mill blast lawsuit Friday, 26 Oct 2012 | 10:37 AM ET

    JACKSON, Miss.-- A settlement has been reached in a federal lawsuit brought by a man who was injured in a deadly explosion at an International Paper Co. mill in Mississippi in 2008.. Jeb D. Slade settled his lawsuit after a hearing Thursday in U.S. District Court in Natchez.

  • Weak demand for Uggs weighs on Deckers Friday, 26 Oct 2012 | 10:33 AM ET

    NEW YORK-- No love for Uggs: Shares of the sheepskin boots maker, Deckers Outdoor Corp., tumbled 16 percent Friday to a three-year low because consumers have turned away just before the start of the holiday shopping season. The Goleta, Calif., company had previously predicted that profit would jump 22 percent in those months.

  • Oct 26- Consumer products maker Newell Rubbermaid Inc said it would cut about 2,000 jobs or slightly more than 10 percent of its staff, over the next 2 1/ 2 years, joining a slew of U.S. companies trying to counter slowing sales by reducing costs.