Latest Business News Wires - Business Headlines


  • News Summary: Delta 3Q profit surges on fuel gains Wednesday, 24 Oct 2012 | 6:41 PM ET

    FLYING HIGH: Delta Air Lines reported a billion-dollar third-quarter profit and said demand is holding up well. GAINING ALTITUDE: The results come as Delta aims to pull ahead of struggling U.S. rivals.

  • *BBC rocked by accusations of abuse by former TV host. LONDON, Oct 24- Incoming New York Times chief Mark Thompson told Reuters on Wednesday his U.S. employer had given him full support since a sexual abuse scandal erupted at Britain's BBC where he had been in charge until last month.

  • U.S. crude settles lower on crude oil inventory rise Wednesday, 24 Oct 2012 | 6:40 PM ET

    December crude fell 94 cents, or 1.08 percent, to settle at $85.73 a barrel, the lowest settlement since July, having traded from $84.94 to $87.47.

  • *Third-quarter net profit up to C $1.30/ shr from C $1.10. TORONTO, Oct 24- Canadian Pacific Railway Ltd said on Wednesday its quarterly profit rose 20 percent on cost cuts and efficiency improvements mostly introduced by a new chief executive who has vowed to shake up Canada's second-largest rail operator.

  • News Summary: Boeing benefits on faster deliveries Wednesday, 24 Oct 2012 | 6:38 PM ET

    BOEING DELIVERS: Boeing is on track to meet delivery targets for the year, and on Wednesday raised its profit guidance and reported a better-than-expected profit for the third quarter. PULSE OF PRODUCTION: Boeing has sped up production, aiming to get some of its newest planes out the door faster.

  • News Summary: IAC stock shaken after outlook mixup Wednesday, 24 Oct 2012 | 6:33 PM ET

    CONFUSED INVESTORS: Shares of IAC/InterActiveCorp declined Wednesday amid investor confusion over the company's 2013 guidance following a mistake by a financial-information provider.

  • American plans to hire 2,500 new pilots Wednesday, 24 Oct 2012 | 6:32 PM ET

    DALLAS-- The CEO of American Airlines said the company expects to hire 2,500 pilots over the next five years as it ramps up international flights.

  • News summary: Best Buy execs leave, 3Q view weak Wednesday, 24 Oct 2012 | 6:26 PM ET

    BYE-BYE: Best Buy said Wednesday two executives, including its U.S. president, are leaving the company. Shares of Best Buy fell in after-hours trading. Joly plans to give his assessment of Best Buy's prospects at the company's Nov. 1 meeting.

  • UPDATE 3-Visa hires JPMorgan's Charles Scharf as CEO Wednesday, 24 Oct 2012 | 6:25 PM ET

    Oct 24- Visa Inc said Charles Scharf, a former head of JPMorgan Chase& Co's retail financial services division, will succeed Joseph Saunders as chief executive, effective Nov. 1. Scharf worked closely with Jamie Dimon, chairman and CEO of JPMorgan, when the two men were at Citigroup Inc in the 1990 s.

  • Choice beats in 3Q on stronger revenue Wednesday, 24 Oct 2012 | 6:22 PM ET

    SILVER SPRINGS, Md.-- Choice Hotels International Inc. said Wednesday that its third-quarter net income jumped 5 percent to beat expectations and it issued better-than-expected full year forecast. Choice Hotels said its net income increased to $44.4 million, or 76 cents per share, for the period that ended Sept. 30.

  • NEW YORK, Oct 24- U.S. stocks briefly dipped into negative territory and then inched higher on Wednesday after the Federal Reserve, in its latest policy statement, stuck to its stimulus plan. The Fed also repeated its vow to keep rates near zero until mid-2015. The Nasdaq Composite Index was up 1.96 points, or 0.07 percent, at 2,992.42.

  • Orexigen plans public offering of its stock Wednesday, 24 Oct 2012 | 6:21 PM ET

    Credit Suisse Securities LLC, BofA Merrill Lynch and Leerink Swann LLC will act as joint managers. The company hopes to file in late 2013, triggering a 10- month review process by the FDA. The FDA refused to approve the drug in February 2011.

  • *Several brokerages raise price targets on Facebook shares. Oct 24- Facebook Inc's shares headed towards their biggest one-day jump on Wednesday after the company reported a surprising rise in mobile advertising, easing concerns it was having trouble capitalizing on soaring use of smartphones and tablets.

  • *Sees no impact from Southern Copper judgment. MEXICO CITY, Oct 24- Mexican copper miner and railroad operator Grupo Mexico reported a third-quarter profit on Wednesday of $311 million, down 54 percent on a double-digit fall in metals prices. Grupo Mexico files results to the Mexican stock exchange in dollars.

  • Navistar to sell 10 mln shares, seeks liquidity cushion Wednesday, 24 Oct 2012 | 6:17 PM ET

    Oct 24- Embattled U.S. truck and engine maker Navistar International Corporation said it would sell 10 million common shares to the public to raise about $190 million to fund capital expenditure and other initiatives.

  • WASHINGTON, Oct 24- The Federal Reserve on Wednesday stuck to its plan to keep stimulating the U.S. economy until the job market improves and repeated its vow to keep rates near zero until mid-2015. Richmond Fed President Jeffrey Lacker again dissented against the decision, as he has done at every meeting this year.

  • News Summary: Wynn Resorts' profit falls in 3Q Wednesday, 24 Oct 2012 | 6:15 PM ET

    LUCK OUT: Casino hotel operator Wynn Resorts Ltd. saw is profit decline nearly 12 percent in the third quarter, as a debt-related loss drove expenses higher. NUMBERS GAME: Net income fell to $112 million, or $1.11 per share, compared with net income of $127.1 million, or $1.01 per share, a year earlier.

  • Wynn Resorts' 3Q profit falls on expenses Wednesday, 24 Oct 2012 | 6:09 PM ET

    LAS VEGAS-- Wynn Resorts Ltd.' s profit fell nearly 12 percent in the third quarter, as a debt-related loss boosted expenses for the casino operator. The latest quarterly report card showed Wynn's casino resorts in Las Vegas benefited from a stronger gambling business, as its table games and slot machines generating more revenue.

  • News Summary: The candidates on college costs Wednesday, 24 Oct 2012 | 6:09 PM ET

    THE COSTS: Since President Barack Obama took office, average tuition at public four-year colleges has grown 26 percent beyond overall inflation. THE PRESIDENT: Obama argues he's taken bold steps on student aid that minimized the damage of a deep recession and will build for the future.

  • Delta 3Q profit surges on fuel gains Wednesday, 24 Oct 2012 | 6:04 PM ET

    Delta Air Lines reported a billion-dollar third-quarter profit and said demand is holding up well. The world's second-largest airline posted net income of $1.05 billion, or $1.23 per share, compared with $549 million, or 65 cents, a year earlier. And Southwest is still integrating AirTran _ 17 months after buying the company.