Latest Business News Wires - Business Headlines


  • SEATTLE, Oct 24- Firm sales numbers for Microsoft Corp's Windows 8 and its new Surface tablet will not be available for three months, but it may be clear long before then if it has a hit on its hands.

  • *Patriot Coal bankruptcy puts health care, pensions at risk. Oct 24- Peabody Energy Corp and Arch Coal Inc are being sued by mine workers who content that the companies have an obligation to pay pension and health care benefits that were transferred to Patriot Coal in a 2007 spinoff.

  • *$3 billion bid tops offer from Nationstar Mortgage Holdings. Oct 24- Ocwen Financial Corp and Walter Investment Management Corp on Wednesday prevailed in a bankruptcy auction for Residential Capital LLC's mortgage business with a $3 billion bid that topped rival Nationstar Mortgage Holdings Inc..

  • *Accused UBS "rogue trader" to take stand in his defence Wednesday, 24 Oct 2012 | 11:12 PM ET
  • *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 decline in metals prices. Grupo Mexico files results to the Mexican stock exchange in dollars.

  • Asia stocks rise on continued optimism over China Wednesday, 24 Oct 2012 | 11:03 PM ET

    BANGKOK-- Asian stock markets rose Thursday as investors kept their sights on a possible improvement in the Chinese economy. A key survey of Chinese manufacturing activity rose to a three-month high in October, easing concerns that China might experience an abrupt economic "hard landing" rather than a gradual slowdown.

  • Accused UBS "rogue trader" to take stand in his defence Wednesday, 24 Oct 2012 | 11:01 PM ET

    LONDON, Oct 25- Former UBS trader Kweku Adoboli will start telling his side of the story in court on Thursday, seeking to convince a jury that he did not act dishonestly when he made the trades that cost the Swiss bank $2.3 billion.

  • Ex-EU health chief vows to fight tobacco bribe links Wednesday, 24 Oct 2012 | 11:00 PM ET

    BRUSSELS, Oct 24- The European Union's former health commissioner vowed on Wednesday to challenge the findings of an EU anti-fraud investigation linking him to bribery, which led to his resignation last week.

  • Televisa profit grows 41.5 percent in 3rd quarter Wednesday, 24 Oct 2012 | 10:56 PM ET

    MEXICO CITY-- Mexican broadcaster Televisa says its profit rose 41.5 percent in the third quarter on the strength of gains from pay-TV subscribers. Grupo Televisa SAB is the world's largest producer of Spanish-language TV programs. It also owns Mexico's biggest television network.

  • Algae biofuel not sustainable now-U.S. research council Wednesday, 24 Oct 2012 | 10:45 PM ET

    WASHINGTON, Oct 24- Biofuels made from algae, promoted by President Barack Obama as a possible way to help wean Americans off foreign oil, cannot be made now on a large scale without using unsustainable amounts of energy, water and fertilizer, the U.S. National Research Council reported on Wednesday.

  • American plans to hire 2,500 pilots Wednesday, 24 Oct 2012 | 10:42 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.

  • NEW YORK, Oct 24- The European Central Bank and the U.S. The two powerful central banks are ``all in'' as they act to give lawmakers more time to resolve problems in Europe and the United States, Mohamed El-Erian, who is also co-chief investment officer of Pacific Investment Management Co, said at a conference hosted by The Economist magazine.

  • FOREX-USD off highs after Fed, NZD up on RBNZ Wednesday, 24 Oct 2012 | 10:22 PM ET

    SYDNEY, Oct 25- The dollar drifted off a two-week peak against a basket of major currencies on Thursday after the Federal Reserve stuck to its stimulus progamme, while a less-dovish-than-expected New Zealand central bank gave the kiwi dollar a boost. As a result, the euro climb off a near two-week low of $1.2921 to $1.2970.

  • As investors bet on election, odd trading crops up Wednesday, 24 Oct 2012 | 10:14 PM ET

    NEW YORK, Oct 24- Money managers across the United States are avidly watching the Nov. 6 presidential election, gaming out investing strategies in the event of a second term for Barack Obama or a first one for Mitt Romney.

  • Oct 24- Producing more airplanes and cutting costs in its defense business helped Boeing Co post stronger-than-expected profit for the third quarter, and the company notched up its earnings forecast for the third time this year.

  • *Dow down 0.2 pct, S&P 500 off 0.3 pct, Nasdaq off 0.3 pct. *Boeing dips after results, but Dow Chemical jumps on job-cut plans. The S&P 500 has lost 3.6 percent over the past five sessions, hurt by weak earnings outlooks and top-line revenue misses from large multinational companies.

  • RIO DE JANEIRO, Oct 24- Brazil's Vale SA, the world's No. 2 mining company, said on Wednesday that third-quarter profit fell 66 percent compared with a year earlier after the price of iron ore dropped to three-year lows. Net income in the three months ending Sept. 30 was $1.67 billion, compared with $4.94 billion a year earlier, Vale said in a statement.

  • UPDATE 3-Best Buy warns on profit; U.S. unit head to leave Wednesday, 24 Oct 2012 | 10:05 PM ET

    Oct 24- Retailer Best Buy Co Inc on Wednesday warned earnings and same-store sales would fall for its fiscal third quarter, and said the head of its U.S. business will leave as it starts to restructure under a new chief executive. Best Buy shares fell 6.8 percent in after-hours trading.

  • *CEO Steve Bennett takes control of sales force. BOSTON, Oct 24- Symantec Corp reported results ahead of Wall Street expectations as its new chief executive took direct control of the company's sales force as part of an effort to turn around the maker of security software. You have a new CEO who is off to a good start,'' said Daniel Ives, analyst with FBR Capital Markets.

  • Reuters World News Highlights 2200 GMT Oct 24 Wednesday, 24 Oct 2012 | 10:00 PM ET

    BEIRUT/ CAIRO- Syria said on Wednesday its military command was still studying a proposal for a holiday ceasefire with rebels- contradicting international mediator Lakhdar Brahimi's announcement that Damascus had agreed to a truce.