Latest Business News Wires - Business Headlines


  • BUENOS AIRES, Oct 30- Argentina could lose 20 percent of its projected corn crop and 10 percent of its soy this season as violent storms lash the Pampas, turning prime farmland into unplantable mush, a local expert said on Tuesday.

  • Oct 30- Walt Disney Co has agreed to buy filmmaker George Lucas's Lucasfilm Ltd and the ``Star Wars'' franchise for $4.05 billion in cash and stock, a blockbuster deal that adds one of the most beloved franchises in entertainment history to Disney's lineup.

  • *NYSE, Nasdaq OMX testing trading systems on Tuesday. *NYSE could switch to electronic trading if necessary. NYSE Euronext said the New York Stock Exchange would open, although it would switch to fully electronic trading if necessary.

  • DETROIT, Oct 30- Ford Motor Co posted a third-quarter profit that trounced Wall Street forecasts on Tuesday, driven by higher vehicle prices and record profit margins of 12 percent in North America. Half of that jump came from North America, where Ford has earned more than $2 billion and posted margins over 10 percent for three quarters in a row.

  • *Greece slashes privatisation revenue targets. ATHENS, Oct 30- An overwhelming majority of Greek Socialist lawmakers have agreed to vote in favour of contested austerity reforms, party officials told Reuters on Tuesday, sharply increasing the odds of securing parliamentary approval for the measures.

  • Oct 30- Citigroup Inc said it is ready for markets to re-open on Wednesday despite power outages in the waterside neighborhood around its trading floors and flood damage in a building where its investment bankers are based. It is also used by Citigroup's transaction services unit, which caters to corporations and governments around the world.

  • *Nonfarm payrolls seen rising 125,000 in October. WASHINGTON, Oct 30- U.S. job growth likely picked up in October, but not enough to prevent the unemployment rate from rising off a near four-year low, although that might not matter for next week's presidential election.

  • Miss. mortgage software firm FNC to add 100 jobs Tuesday, 30 Oct 2012 | 8:11 PM ET

    OXFORD, Miss.-- A Mississippi software firm will add at least 100 jobs thanks to a Brazilian contract. It was founded by four University of Mississippi professors. Phil Bryant spoke at the Oxford ceremony announcing the expansion, but the state did not provide incentives, officials said.

  • *Deal is half cash, half stock. Oct 30- Walt Disney Co said on Tuesday that it had agreed to buy film maker George Lucas's Lucasfilm Ltd and the ``Star Wars'' franchise for $4.05 billion in cash and stock. Lucas, a Hollywood icon known for exercising control over the most minute details of the fictional universe he created, will remain as a creative consultant.

  • WASHINGTON, Oct 30- Fannie Mae and Freddie Mac on Tuesday extended their disaster-relief policies to borrowers whose homes were damaged by Hurricane Sandy.

  • Oct 30- Walt Disney Co said it agreed to buy film maker George Lucas's Lucasfilm Ltd for $4.05 billion.

  • NEW YORK, Oct 30- The euro rallied against the dollar and yen on Tuesday after data showed the Spanish economy contracted slightly less than expected in the third quarter and Italy's borrowing costs fell at a sale of five- and 10- year debt.

  • UPDATE 3-Mexico's Cemex to join clean energy fund Tuesday, 30 Oct 2012 | 8:00 PM ET

    MEXICO CITY, Oct 30- Mexican cement maker Cemex said on Tuesday it would join a clean energy fund that is expected to raise $300 million through a public offer of certificates on the Mexican stock exchange. In February, the Monterrey- based company said it planned to create an investment fund this year that would finance some $1 billion in energy projects.

  • LONDON, Oct 30- Gold prices were little changed on Tuesday as E uropean s tock markets rose and the dollar weakened, but moves were limited as New York markets remained closed due to Hurricane Sandy, and ahead of a key U.S. jobs report due later this week. Spot gold rose by just 0.6 cents to $1,7 09. 86 an ounce a t 3: 23 p.m. U. S. gold futures for December rose $3. 40 to $1,712. 1 0.

  • Oct 30- More than 7.3 million homes and businesses along the U.S. East Coast were still without power Tuesday afternoon as the remnants of Hurricane Sandy continued to move across western Pennsylvania. Sandy made landfall in New Jersey Monday night.

  • Oct 30- U.S. Steel Corp, the top steel producer in the United States by volume, warned that its current quarter would be hurt by the global slowdown, joining rivals Nucor Inc and AK Steel Holding Corp in forecasting weak results.

  • NEW YORK, Oct 30- Residents of lower Manhattan faced up to four days without power on Tuesday as Consolidated Edison, New York City's power provider, scrambled to repair the damage wrought by Hurricane Sandy.

  • DETROIT, Oct 30- Sergio Marchionne, chief executive of both Fiat SpA and Chrysler Group LLC, said he wants to bring ``unification'' of the two automakers by 2015.. ``The objective has always been to try and bring unification by 2014 or 2015,'' Marchionne said on a conference call on Tuesday. ``I'd still like to see that done.''.

  • HERZLIYA, Israel, Oct 30- Lockheed Martin Corp said on Tuesday that it was making progress on resolving technical issues facing the cutting-edge helmet being developed for use by F-35 fighter pilots, and it cited positive initial reports from night flight tests of the system.

  • *Denies report of Opel talks. MILAN, Oct 30- Fiat sharply cut its group targets for the next two years on Tuesday, saying languishing sales in austerity-hit Europe may mean its trading profit in 2014 is a third lower than it targeted two years ago.