Latest Business News Wires - Business Headlines


  • Oct 26- The U.S. Food and Drug Administration said on Friday it found ``greenish black foreign matter'' and other contaminants in an injectable steroid produced by the New England Compounding Center, the pharmacy at the heart of a deadly U.S. meningitis outbreak.

  • Mexico will host finance ministers and central bankers from the bloc of advanced and developing countries next weekend at a meeting that is expected to focus heavily on Europe's ongoing debt crisis, with Spain tipped as the next country to seek aid.

  • Moody's reviewing US units of 2 Canadian banks Friday, 26 Oct 2012 | 6:40 PM ET

    NEW YORK-- Moody's Investors Service warned Friday that it could downgrade its debt ratings on the U.S. subsidiaries of two Canadian banks, Toronto-Dominion Bank and Bank of Montreal, after the parent companies' ratings were placed on review.

  • NEW YORK, Oct 26- The euro traded flat against the dollar on Friday after three straight days of losses, though concerns whether Spain will ask for a bailout and worries about Greece were expected to weigh on the currency.

  • BOSTON, Oct 26- Citigroup fired top Internet analyst Mark Mahaney and paid a $2 million fine to a Massachusetts regulator to settle charges that the bank improperly disclosed research on Facebook's IPO and information on other tech companies.

  • S&P upgrades outlook on Lions Gate Friday, 26 Oct 2012 | 6:33 PM ET

    NEW YORK-- Standard& Poor's Ratings Services on Friday upgraded its outlook on Lions Gate Entertainment Corp. given the strength of the television and movie company's recent films.

  • Canadian National Railway to buy back shares Friday, 26 Oct 2012 | 6:29 PM ET

    NEW YORK-- Canadian National Railway Co. said Friday that it plans to buy back up to 5.8 million of its shares under private agreements with a third-party seller, whom it did not identify. Canadian National said it will buy back the shares at a discount to its price on the Toronto Stock Exchange. Canadian's U.S.-traded shares fell 32 cents to close at $86.71.

  • BOSTON, Oct 26- Massachusetts' top securities regulator said on Friday that his office is looking into whether top Wall Street investment banks in addition to Citigroup have leaked research in violation of state law on how to share this kind of information.

  • *Earnings of $1.32/ share before items beat $1.12 estimate. Oct 26- Rockwell Collins Inc reported lower quarterly earnings on Friday as weaker government sales overshadowed stronger commercial revenue, and said it could cut 5 percent of its workforce as its defense operations face U.S. budget challenges. Rockwell Collins has 20,000 employees.

  • *Brazil investing heavily to increase energy capacity. BRASILIA, Oct 26- A massive blackout left as many as 53 million Brazilians in the dark late Thursday and early Friday, the latest in a string of energy shortages that have raised questions about whether Brazil's infrastructure is keeping pace with economic growth.

  • Oct 26- A former chief financial officer at Xilinx Inc on Friday became the latest executive to settle civil charges of being part of now-imprisoned hedge fund tycoon Raj Rajaratnam's insider trading network.

  • Oct 26- A New York man was arrested Friday on charges he forged documents in a multibillion-dollar scheme to defraud Facebook Inc and its chief executive, Mark Zuckerberg, through a lawsuit claiming a huge ownership stake in the Internet company.

  • *Opel expected to pay backdated wages in lump sum- source. FRANKFURT/ HAMBURG, Oct 26- A German labour union extended a Friday deadline for a deal with loss-making carmaker Opel over a turnaround plan that includes thousands of job cuts and the closure of its Bochum plant in 2017..

  • Robbins still expects to close sale this year Friday, 26 Oct 2012 | 6:18 PM ET

    HOUSTON-- Robbins& Myers Inc. still intends to close a $2.5 billion sale of the company to National Oilwell Varco Inc. by the end of the year, despite additional regulatory review of the deal.

  • WASHINGTON, Oct 26- Fannie Mae and Freddie Mac are expected to require less taxpayer aid and may be able to stop tapping government coffers as early as next year, the U.S. housing regulator said on Friday, partly because the health of the bailed-out companies has improved.

  • FDIC closes small bank in Pennsylvania Friday, 26 Oct 2012 | 6:14 PM ET

    The Federal Deposit Insurance Corp. seized NOVA Bank, based in Berwyn, Pa.. The FDIC said it was unable to find a financial institution to take over the failed bank's operations, so it will retain NOVA's assets for later disposition. The lender is the second FDIC- insured institution in Pennsylvania to fail this year.

  • PARIS, Oct 26- Greece's opposition leader denounced international lenders' demands as dealing the ``final blow'' to a devastated economy but said on Friday he would not seek to bring down the government.

  • Oct 25- McDonald's Corp will start selling bags of its ground coffee i n some of its Canadian re staurants i n November, its Canadian chief told Reuters on Thursday, in a likely challenge to rivals like Starbucks Corp, Dunkin' Donuts and Tim Hortons Inc..

  • Hurricane Sandy weakens a little - NHC Friday, 26 Oct 2012 | 6:10 PM ET

    Oct 26- Hurricane Sandy has weakened a little, with maximum sustained winds dropping to near 75 miles per hour though with higher gusts, the U.S. National Hurricane Center said in its latest bulletin on Friday.

  • U.S. power companies brace for Hurricane Sandy Friday, 26 Oct 2012 | 6:09 PM ET

    Oct 26- U.S. electric companies from Maine to Florida were bracing for heavy wind, rain and flooding that could take down power lines and threaten to close some East Coast nuclear plants early next week when Hurricane Sandy comes ashore.