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Latest Business News Wires - Business Headlines

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  • WASHINGTON, Oct 26- The Federal Reserve's latest stimulus will not boost economic growth without creating unwanted inflation, said Jeffrey Lacker, president of the Richmond Fed and lone dissenter on the central bank's policy committee.

  • Romney closing argument focuses on the economy Friday, 26 Oct 2012 | 11:28 AM ET

    DEFIANCE, Ohio-- Mitt Romney is trying to close the deal with voters by focusing on their economic concerns, an area where polling shows the Republican nominee has an edge heading into the final days of the campaign.

  • Oct 26- Chemical producer LyondellBasell Industries NV posted a 6 percent drop in quarterly profit on Friday due in part to higher costs in European operations. For the third quarter, the company reported net income fell to $846 million, or $1.46 per share, from $895 million, or $1.33 per share, in the year-ago period.

  • *France: Lawmakers pass bill to pay for abortions Friday, 26 Oct 2012 | 11:27 AM ET
  • Looters strip Bulgaria of ancient treasures Friday, 26 Oct 2012 | 11:26 AM ET

    ARCHAR, Bulgaria-- On the banks of the Danube, in the northwest corner of Bulgaria, lie the remnants of an ancient Roman settlement called Ratiaria, host to a priceless cultural heritage.

  • Oshkosh profit rises, sales decline on defense orders Friday, 26 Oct 2012 | 11:24 AM ET

    Oct 26- Specialty truckmaker Oshkosh Corp on Friday reported higher fourth-quarter profit and reaffirmed its 2013 outlook and forecast that adjusted earnings would double by fiscal 2015..

  • LONDON, Oct 26- Accused UBS ``rogue trader'' Kweku Adoboli said on Friday he did not believe his behaviour had been fraudulent and it was unfair to suggest that his previous jobs in the UBS back office had given him the knowledge and skills to commit fraud.

  • Philippine official: $121K for car thief's head Friday, 26 Oct 2012 | 11:19 AM ET

    MANILA, Philippines-- The vice mayor of a southern Philippine city has offered a $121,000 reward for the decapitated head of the alleged leader of a gang of car thieves.

  • Ally Bank looks to move away from mortgages Friday, 26 Oct 2012 | 11:19 AM ET

    MIDVALE, Utah-- Ally Bank, wanting to focus on auto lending and consumer deposits, is trying to take another step away from the mortgage industry.

  • *Hurricane Sandy threatens U.S. after slamming Cuba. LONDON, Oct 26- Oil fell on Friday to around $108 a barrel and was heading for its second weekly drop, pressured by expectations U.S. economic growth will not be strong enough to bolster the demand outlook and by Europe's debt crisis.

  • Legg Mason profit up, with first net inflow since 2007 Friday, 26 Oct 2012 | 11:15 AM ET

    Oct 26- Asset manager Legg Mason Inc said on Friday that quarterly profit rose 42 percent as it reported the first quarterly net inflow since 2007.. For the second quarter ended Sept. 30, Baltimore- based Legg Mason on Friday reported net income of $80.8 million, or 60 cents per share, compared with 56.7 million, or 39 cents per share, in the same period a year earlier.

  • Merck posts mixed results for third quarter Friday, 26 Oct 2012 | 11:15 AM ET

    Oct 26- Merck& Co reported mixed third-quarter results, with earnings beating Wall Street forecasts but sales slightly missing the mark amid stiff generic competition that began in August for the company's Singulair asthma medicine.

  • LyondellBasell says 3Q net fell Friday, 26 Oct 2012 | 11:13 AM ET

    LyondellBasell, which refines oil and makes chemicals and plastics used in manufacturing and construction, said on Friday that its third-quarter net income fell 5.7 percent, as raw material prices rose and volumes in some businesses declined. LyondellBasell said it earned $844 million, or $1.46 per share, for the quarter that ended Sept. 30.

  • LONDON, Oct 26- Accused UBS ``rogue trader'' Kweku Adoboli said on Friday he did not believe his behaviour had been fraudulent and it was unfair to suggest that his previous jobs in the UBS back office had given him the knowledge and skills to commit fraud.

  • Quality Systems 2Q results miss Wall Street's view Friday, 26 Oct 2012 | 11:13 AM ET

    IRVINE, Calif.-- Quality Systems' fiscal second-quarter net income declined 23 percent, weighed down by lower software license sales. Quality Systems earned $15.7 million, or 26 cents per share, compared with $20.5 million, or 35 cents per share, a year earlier.

  • Apple's weak margin outlook surprises analysts Friday, 26 Oct 2012 | 11:12 AM ET

    Oct 26- At least three brokerages cut their price targets on Apple Inc by up to $50 a share after the iPhone maker surprised analysts by forecasting lower gross margins for the current quarter. For the December quarter, Apple forecast revenue of $52 billion, below estimates of $55 billion, according to Thomson Reuters I/B/E/S.

  • NH utilities preparing for Hurricane Sandy Friday, 26 Oct 2012 | 11:10 AM ET

    A spokesman for Unitil Corp. says the utility is talking to crews as far away as Tennessee and Michigan to make sure they will be available. Alec O' Meara said typically, Unitil talks about reaching to contractors as far as three days in advance of a storm, but the calls are being made sooner than that this time.

  • Interpublic revenue falls on slow customer spending Friday, 26 Oct 2012 | 11:09 AM ET

    Oct 26- Interpublic Group of Cos, home to advertising agencies McCann Erickson and Draftfcb, reported a fall in revenue on lower spending by customers and some account losses in 2011..

  • Equities retreat as euro zone crisis hits profits Friday, 26 Oct 2012 | 11:08 AM ET

    LONDON, Oct 26- European equity markets eased on Friday, on track for their worst week in a month on the back of a raft of gloomy corporate outlooks and a darkening technicals picture.

  • Comcast's third-quarter revenue rises on Olympics Friday, 26 Oct 2012 | 11:07 AM ET

    Oct 26- Comcast Corp posted a higher quarterly profit on Friday, driven partly by revenue generated at its NBC Universal unit by the London Olympics as well as by new Internet customers for its cable business.