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Latest Business News Wires - Business Headlines


  • *BHP's Vanselow, Xstrata's Davis in frame as replacements. LONDON, Oct 26- Anglo American's Chief Executive Cynthia Carroll has quit after more than five years in the job, under pressure from investors over the mining group's lagging share price and continued dependence on strike-hit South Africa.

  • Mid-Atlantic braces for storm amid warm weather Friday, 26 Oct 2012 | 2:48 PM ET

    Meanwhile, workers in Ocean City, Md., filled sandbags, and Maryland Gov. "Delaware is smack dab in the crosshairs based on the current path projections," said Chip Guy, a spokesman for Sussex County, home to southern Delaware's beaches. Forecasters expect the hurricane to turn inland around Delaware, but said it could still hit as far north as New York.

  • US drops 13 to 1,826 rigs exploring for oil, gas Friday, 26 Oct 2012 | 2:47 PM ET

    Texas- based oilfield services company Baker Hughes Inc. reported Friday that 1,408 rigs were exploring for oil and 416 were searching for gas. Of the major oil- and gas-producing states, Texas dropped seven rigs and New Mexico fell by 5. Alaska and Oklahoma lost three apiece, and West Virginia was down by two.

  • 38 Studios auction in Providence brings in $650K Friday, 26 Oct 2012 | 2:44 PM ET

    PROVIDENCE, R.I.-- A sell-off of items from the former headquarters of Curt Schilling's failed video game company in Providence brought in about $650,000. An initial auction, at a studio in Maryland acquired by 38 Studios, raised $180,000. 38 Studios was lured to Rhode Island from Massachusetts with a $75 million state loan guarantee.

  • Business events scheduled for the coming month Friday, 26 Oct 2012 | 2:42 PM ET

    WASHINGTON _ Labor Department releases weekly jobless claims, 8:30 a.m. Eastern; Labor Department releases third-quarter productivity data, 8:30 a.m.; Freddie Mac, the mortgage company, releases weekly mortgage rates, 10 a.m.; Institute for Supply Management releases its manufacturing index for October, 10 a.m.; Commerce Department releases construction spending for September, 10 a.m..

  • NHL cancels games through November Friday, 26 Oct 2012 | 2:38 PM ET

    NEW YORK-- The NHL has canceled all its games through the end of November because of the labor dispute between owners and players. The league made the announcement on Friday in a brief statement. It said that a total of 326 regular-season games, more than 26.5 percent of the season, were scheduled for Oct. 11 through Nov. 30.

  • Spain making progress in banking sector reform-IMF Friday, 26 Oct 2012 | 2:35 PM ET

    WASHINGTON, Oct 26- Spain has made progress in reforming its financial sector, but needs to keep up the momentum as more steps need to be taken, the International Monetary Fund said in a statement on Friday.

  • *Rockwell Collins profit falls; misses expectations Friday, 26 Oct 2012 | 2:33 PM ET
  • *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.

  • *Euro falls broadly on Greece uncertainty. NEW YORK, Oct 26- The euro fell against the dollar for a fourth straight day on Friday, hitting a two-week low on concerns about political uncertainty in Greece and fears it may miss its austerity targets. ``People are still concerned about Spain asking for a bailout and Greece remains a problem too.

  • LONDON, Oct 26- Global investors seem happy to feed off central banks' reflation policies but not necessarily their eventual success. In an otherwise punchy, policy-driven year of double-digit western equity gains, October is set to be first month in the red since May for both MSCI's all-country world stock index and U.S. blue chips in the S&P 500.

  • *Arch Coal surges after results. ``The fact that this was a two percent GDP number is still pathetic in the overall scheme of life- we ought to be growing at four percent, not two percent,'' said Phil Orlando, chief equity market strategist, at Federated Investors, in New York.

  • Sandy pounds Bahamas after killing 39 in Caribbean Friday, 26 Oct 2012 | 2:26 PM ET

    NASSAU, Bahamas-- Hurricane Sandy raged through the Bahamas on Friday after leaving 39 people dead across the Caribbean, following a path that could see it blend with a winter storm to hit the U.S. East Coast with a super-storm next week.

  • US court rules against Argentina over debt fix Friday, 26 Oct 2012 | 2:24 PM ET

    NEW YORK, Oct 26- A U.S. appeals court said Argentina discriminated against bondholders who refused to take part in massive debt restructurings in 2005 and 2010 by deciding to pay them later than holders who agreed to participate.

  • Clearwire 3Q loss narrows on lower expenses Friday, 26 Oct 2012 | 2:24 PM ET

    BELLEVUE, Wash.-- Clearwire Corp.' s third-quarter loss from continuing operations narrowed as the wireless network operator reduced expenses. The company's loss from continuing operations was $41.3 million, or 22 cents per share, for the three months ended Sept. 30.

  • Oct 26- Asset manager Legg Mason Inc said on Friday quarterly profit topped expectations as the company reported its first quarterly net inflows of client funds since 2007.. Although some flow trends remained negative, the results could ease pressure on Legg Mason.

  • *Earnings of $1.32 a share before items beat estimate of $1.12. Oct 26- Rockwell Collins Inc reported higher-than-expected quarterly earnings on Friday and said its commercial business would expand over the next year, while defense operations face U.S. budget challenges.

  • UPDATE 1-Shares of WhiteWave open at $19 Friday, 26 Oct 2012 | 2:22 PM ET

    Oct 26- WhiteWave Foods Co shares rose almost 12 percent in their New York Stock Exchange debut on Friday, as investors bet on the growth of the organic foods sector. Shares of the Dallas, Texas- based Dean Foods Co spinoff opened at $19, up 11.8 percent, after pricing at $17, above the expected range.

  • Oct 26- Goodyear Tire& Rubber Co, the top U.S. tire maker, said third-quarter profit fell on lower sales in all its key markets, especially Europe. Goodyear said it expects fourth-quarter volume to drop 3 percent to 5 percent from a year earlier, reflecting continued weakness in Europe.

  • BRUSSELS, Oct 26- Spain is on track to correct the problems in its financial sector, but needs more decisive action to deal with challenges facing some banks, the European Central Bank and the European Commission said in a joint statement on Friday.