Latest Business News Wires - Business Headlines


  • LONDON, Oct 30- Copper rose on Tuesday, rebounding from a near 2- month low hit in the previous session, supported by a weak dollar and some cautious industrial buying, but concerns about sluggish demand from top consumer China capped further gains.

  • OTTAWA, Oct 30- Canada's export credit agency cut its 2012 forecast for growth in exports of goods and services on Tuesday in the wake of the European crisis, but it said exporters will see benefits next year from a recovery in the U.S. private sector.

  • --Abiomed Inc rescheduled second-quarter conference call to Nov. 1 at 8 am Eastern Time. --Accelrys Inc rescheduled third-quarter results to Oct. 31, after market. Its conference call will be held on Nov. 1, 9.30 am Eastern Time.

  • LONDON, Oct 30- Arabica coffee futures turned lower on Tuesday as early reports suggested that exchange stocks in warehouses on the United States' East Coast were left unscathed by Sandy, one of the biggest storms ever to hit the region.

  • Glencore faces midnight deadline for EU concessions Tuesday, 30 Oct 2012 | 4:18 PM ET

    LONDON/ BRUSSELS, Oct 30- Commodities trader Glencore, hoping to speed its $33 billion takeover of Xstrata over its final hurdles, is expected to offer to sell part of the group's zinc assets, meeting a midnight deadline to comply with EU antitrust concerns.

  • *Philadelphia's 330,000- bpd refinery restarting. *Hess 70,000- bpd NJ refinery, Imperial plant suffer outages. NEW YORK, Oct 30- The second-largest refinery on the U.S. East Coast has suffered ``some'' flooding and a power outage because of Hurricane Sandy, while two smaller plants also lost power, as glitches threaten to slow the recovery in fuel supplies.

  • Oct 30- U.S. Steel Corp, the top steel producer in the United States by volume, warned that its current quarter would be hurt by the global slowdown, joining rivals Nucor Inc and AK Steel Holding Corp in forecasting weak results.

  • *Italy debt auctions also help euro. NEW YORK, Oct 30- The yen rose against the dollar on Monday after monetary easing steps from the Bank of Japan disappointed investors who had positioned for a more aggressive increase in asset purchases.

  • *Job losses mostly in Switzerland, United States, Britain. *Q3 net loss of 2.172 bln Sfr vs Reuters poll 457 mln Sfr. Zurich- based UBS will focus on wealth management and a smaller investment bank, ditching much of the trading business that ran up $50 billion in losses in the financial crisis and is embroiled in a global LIBOR rate-fixing investigation.

  • Catastrophe bonds unbowed by Hurricane Sandy Tuesday, 30 Oct 2012 | 3:52 PM ET

    LONDON, Oct 30- Investors who have put their money into specialist financial bonds which cover insurance companies from huge natural disasters are unlikely to be hit with big losses from monster storm Sandy even though it is one of the biggest ever to hit the United States.

  • New York Governor Andrew Cuomo said at a separate press conference that all bus fares would be suspended on Tuesday. New York City experienced 23 fires during the storm, with a severe one in Breezy Point, Queens, that burned more than 80 houses.

  • *Argentina is world's No. 2 corn exporter after the U.S. BUENOS AIRES, Oct 30- Argentina could lose 20 percent of its projected corn crop and 10 percent of its soy this season because of violent storms that have lashed the Pampas farm belt over the last three months, a local expert said on Tuesday.

  • U.S. companies hustle to re-staff, reopen after Sandy Tuesday, 30 Oct 2012 | 3:46 PM ET

    *Saks, Macy's hope to open in New York City on Wednesday. Luxury department store Saks Inc said it would reopen on Tuesday three of the stores that it had to close because of Sandy, including stores in greater Washington and Philadelphia.

  • Oct 30- The exit of Apple Inc's longtime mobile software products chief may be a surprise, but a band of able executives led by Tim Cook and a bigger role for design boss Jonathan Ive meant the company was in good hands, analysts said on Tuesday.

  • Spain becomes net diesel exporter as its demand slumps Tuesday, 30 Oct 2012 | 3:40 PM ET

    *Spain has invested $5 bln in refinery upgrades. MADRID, Oct 30- Spain has become a net diesel exporter for the first time on record this year as demand has collapsed at home and major refinery upgrades have boosted production capacity, the country's strategic oil reserves corporation said.

  • *Boeing sees up to $27 bln in Russian titanium buying. MOSCOW, Oct 30- Boeing Co will sell 35 of its 737 MAX airliners to an aircraft leasing arm of Russian Technologies in a deal worth $3.5 billion, the companies said on Tuesday.

  • Oct 30- Fidelity Investments, which has one of the largest U.S. online brokerages, told retail customers that it expects U.S. markets to open Wednesday for normal trading.

  • FACTBOX- A look at South African platinum production Tuesday, 30 Oct 2012 | 3:30 PM ET

    Oct 30- Here is a look at platinum production in South Africa as strike-hit South African miner Lonmin, the world's third-largest platinum producer, plans to raise $800 million from its investors to help slash debt. In 2012 South Africa was gripped by its worst labour unrest in decades following a violent strike that broke out at Lonmin's Marikana mine in August.

  • WASHINGTON, Oct 30- The U.S. home vacancy rate, which measures empty properties and those for sale, fell to the lowest level in seven years in the third quarter as demand for housing picked up and economic pressures eased.

  • Accused UBS rogue trader: "I lost control" Tuesday, 30 Oct 2012 | 3:22 PM ET

    LONDON, Oct 30- Former UBS trader Kweku Adoboli told a London court on Tuesday he had ``lost control'' of his trading in the summer of 2011 but insisted he never acted dishonestly in the frantic weeks that resulted in losses of $2.3 billion.