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Latest Business News Wires - Business Headlines


  • WASHINGTON, Oct 26- U.S. economic growth picked up in the third quarter as a late burst in consumer spending and a surprise turnaround in government outlays offset the first cutback in business investment in more than a year.

  • Commodities prices continue a weeklong slide Friday, 26 Oct 2012 | 3:37 PM ET

    Stocks were weak for most of the day following poor results from Goodyear Tire, Interpublic and other companies. December silver fell 4.20 cents to $32.036 an ounce and December palladium fell $9.10 to $595.40 an ounce. In energy trading, benchmark oil rose 23 cents to end at $86.28 per barrel in New York.

  • *Improving crop weather in South America weighs. CHICAGO, Oct 26- U.S. soybeans slipped for a second straight day on Friday on signs of waning U.S. exports and improving crop weather prospects in South America that could lead to bumper output in Brazil and Argentina.

  • Former US Sen. Mitchell won't mediate Calif. talks Friday, 26 Oct 2012 | 3:35 PM ET

    George Mitchell is stepping down from overseeing private settlement talks over the deadly San Bruno pipeline explosion. The California Public Utilities Commission appointed the former Senate Majority Leader earlier this month to mediate a settlement regarding whether Pacific Gas& Electric Co. should be fined for the blast.

  • RIO DE JANEIRO, Oct 26- Brazilian state-led oil company Petrobras looks set to report a higher quarterly profit later on Friday after the government allowed price increases for wholesale gasoline and diesel for the first time in six years.

  • Mylan at long-time high on outlook, deal talk Friday, 26 Oct 2012 | 3:30 PM ET

    NEW YORK-- Shares of Mylan Inc. rose to their highest price in almost nine years on Friday after the drugmaker reported higher sales of its EpiPen allergy injection and raised its 2012 guidance. The company said it now expects to earn between $2.50 and $2.60 per share in 2012, about 15 cents per share more than it had expected.

  • News Summary: Toyota widens sales lead over GM Friday, 26 Oct 2012 | 3:29 PM ET

    TOYOTA LEADS: Toyota Motor Corp. has widened its global sales lead over General Motors after bouncing back from a series of natural disasters. THE NUMBERS: Toyota said Friday it sold 7.4 million vehicles globally during the first nine months of the year.

  • NJ utility: Expect outages lasting 7 to 10 days Friday, 26 Oct 2012 | 3:28 PM ET

    TRENTON, N.J.-- One of the New Jersey's largest utility companies says residents should expect power outages of a week or more once the effects of Hurricane Sandy hit the state. A spokesman for Jersey Central Power and Light told a news conference Friday that people should take precautions now but prepare for the worst.

  • SC tax returns exposed by computer hacker Friday, 26 Oct 2012 | 3:27 PM ET

    COLUMBIA, S.C.-- State officials say someone hacked into the Department of Revenue, exposing about 3.6 million South Carolina tax returns. Nikki Haley said Friday about 387,000 credit and debit card numbers were also exposed, and 16,000 of those were unencrypted.

  • Massachusetts officials prepare for powerful storm Friday, 26 Oct 2012 | 3:26 PM ET

    BOSTON-- Massachusetts officials braced Friday for the arrival of a mega-storm that Gov. Forecasts that show Sandy veering inland and merging with another storm front in the mid-Atlantic could lower the potential for catastrophic damage in Massachusetts, but Patrick still warned of a 4- to 6- foot coastal storm surge and 30-35 foot seas offshore.

  • NY man who sued Facebook faces criminal charges Friday, 26 Oct 2012 | 3:21 PM ET

    Oct 26- A New York businessman faces criminal charges of trying to defraud Facebook Inc and its chief executive, Mark Zuckerberg, by claiming that he was promised a share in the social-media company, federal prosecutors said.

  • LONDON, Oct 26- China's imports of iron ore have risen for the past two months, but those of coking coal have dropped for the past three, creating a seeming disconnect between the two key ingredients for steel making.

  • FDA approves Teva leukemia drug Friday, 26 Oct 2012 | 3:18 PM ET

    Oct 26- The U.S. Food and Drug Administration on Friday said it has approved a new leukemia treatment from Teva Pharmaceutical Industries Ltd to be sold under the brand name Synribo.

  • Oct 26- Specialty truckmaker Oshkosh Corp reported a higher quarterly profit on Friday, though a decline in its defense business weighed on revenue, and rejected a takeover offer from activist shareholder Carl Icahn.

  • US appeals court rejects Argentine bond arguments Friday, 26 Oct 2012 | 3:16 PM ET

    BUENOS AIRES, Argentina-- Argentina lost its long battle against bond holdouts in the U.S. courts Friday when an appellate panel rejected every argument it made against paying $1.33 billion to investors who refused to accept as little as 25 cents on the dollar for the country's defaulted debt in 2005..

  • A circus comes to Gaza _ minus lions and ladies Friday, 26 Oct 2012 | 3:15 PM ET

    GAZA CITY, Gaza Strip-- The circus came to Gaza on Friday, but getting it there required its own high-wire act. No women performers were included for fear of offending conservative Palestinians and their Hamas rulers and the high-cost of legal transport prevented animals from taking part.

  • Earnings schedule for week of 10/29/2012 Friday, 26 Oct 2012 | 3:15 PM ET

    Burger King Worldwide Inc. reports quarterly financial results. Baidu Inc., the Chinese Internet company, reports quarterly financial results. Avon Products Inc. reports quarterly financial results.

  • DETROIT, Oct 26- U.S. safety regulators are investigating 310,000 Taurus and Mercury Sable cars built by Ford Motor Co over a problem that could cause the throttle to be stuck open. The cars were built for the model years 2000 to 2003 and equipped with 3.0- liter V6 Duratec engines, the National Highway Traffic Safety Administration said.

  • Eastman's 3Q profit beats, shares soar Friday, 26 Oct 2012 | 3:13 PM ET

    NEW YORK-- Eastman Chemical Co.' s shares jumped in trading Friday after the chemical company reported a third-quarter profit that beat market expectations. The company now expects to earn $5.30 to $5.40 per share for the year on an adjusted basis, up from its prior forecast of $5.30 per share. Eastman earned $154 million, or 99 cents per share, for the quarter.

  • Toyota widens global sales lead over GM Friday, 26 Oct 2012 | 3:12 PM ET

    DETROIT-- Toyota has widened its global sales lead over General Motors after bouncing back from a series of natural disasters. While Toyota's sales rose 28 percent in that period, GM's rose 2.5 percent, to 6.95 million cars and light-duty trucks.