Latest Business News Wires - Business Headlines


  • MEXICO CITY, Oct 26- Mexico's central bank said on Friday it could tighten monetary policy soon for the first time in four years if inflation persists and price pressures do not abate.

  • FACTBOX-The wealthy behind U.S. presidential race Friday, 26 Oct 2012 | 9:48 PM ET

    Oct 26- Individual donors to U.S. presidential candidates can contribute up to $2,500 for the state-by-state party nominating contests and another $2,500 for the general election.

  • NEW YORK, Oct 26- Shares on major markets ended little changed on Friday as weak corporate earnings offset better U.S. economic data, though investors remained concerned about slowing global growth.

  • UPDATE 4-US court rejects Argentina debt fix Friday, 26 Oct 2012 | 9:23 PM ET

    *Argentina says court battle not over; bond prices fall. Oct 26- A U.S. appeals court said Argentina improperly discriminated against bondholders who refused to take part in two massive debt restructurings, setting back the country's efforts to recover from a roughly $100 billion default a decade ago.

  • NEW YORK, Oct 26- Switzerland's biggest bank, UBS AG, is expected to cut up to 10,000 jobs, or 16 percent of its workforce, as it contends with shrinking revenue and rising capital requirements, a person familiar with the company said on F rid ay. The cuts would be among the biggest in banking history.

  • 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.

  • Oct 26- A U.S. federal court has upheld a $520,000 arbitration ruling against Merrill Lynch that led to the firing- and rehiring- of three securities arbitrators.

  • *Dow up 0.03 pct, S&P 500 down 0.1 pct, Nasdaq up 0.1 pct. NEW YORK, Oct 26- U.S. stocks finished flat on Friday, recovering from moderate declines as bargain hunters rushed in to buy Apple and other stocks recently battered by disappointing results.

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

  • *Declines to say directly if Spain should seek aid. 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.

  • Shares of Dean Foods Co spin-off closed at $16.75 after pricing at $17 on Thursday evening. Reuters reported late on Thursday that Mexico's Grupo Lala, Michael Foods and Apollo were eyeing the Morningstar business, which could be valued between $1 billion and $1.5 billion.

  • UBS to cut up to 10,000 jobs bankwide -source Friday, 26 Oct 2012 | 8:44 PM ET

    NEW YORK, Oct 26- UBS AG, Switzerland's biggest bank, is expected to cut up to 10,000 jobs across the company as it contends with shrinking revenue and rising capital requirements, a person familiar with the company said.

  • *Hurricane Sandy threat to U.S. Ease Coast. NEW YORK, Oct 26- Brent oil rose a second day on Friday, recovering from an early decline as supportive U.S. economic data coupled with North Sea and Nigerian production problems yielded some relief from concerns about Spain and tepid global demand.

  • 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.

  • *Spain seen on track to correct problems in financial sector. NEW YORK, Oct 26- The euro was little changed 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.

  • Clearwire to use Huawei equipment in network upgrade Friday, 26 Oct 2012 | 8:33 PM ET

    NEW YORK, Oct 26- Wireless service provider Clearwire Corp said on Friday it will use equipment from China's Huawei in a high-speed network upgrade it starts in 2013, with the blessing of the U.S. government. Sprint, which is being taken over by Softbank Corp, plans to use the Clearwire high-speed network to boost its capacity for its own service.

  • NEW YORK, Oct 26- U.S. Analysts said the data could not only shed light on the nascent labor market recovery but also influence an increasingly tight election between Republican Mitt Romney and Democrat Barack Obama.

  • NEW YORK, Oct 26- U.S. stocks finished flat on Friday, recovering from moderate declines as bargain hunters lifted Apple off its lows and bought other stocks recently battered by disappointing results.

  • GENEVA/ PARIS, Oct 26- Switzerland's Maus Freres Group has agreed to buy an additional 30.3 percent stake in Lacoste SA, on top of the 35 percent it already holds and valuing the classic French sportswear maker at between 1.0 billion and 1.25 billion euros.

  • *JPMorgan, Raine Group hired to assess options-source. LOS ANGELES, Oct 26- Current TV, the liberal cable news channel started by former Vice President Al Gore, has hired JP Morgan and The Raine Group to assess strategic options that may include a sale or strategic partnership with another media company, according to a person with knowledge of the operation.