Latest Business News Wires - Business Headlines


  • LONDON, Oct 26- Accused UBS rogue trader Kweku Adoboli pleaded not guilty on Friday to two new counts of false accounting that were added to the indictment six weeks into his trial. The two new counts were added to help clarify the case for the jury. There are now six counts in total, two of fraud and four of false accounting.

  • Police detain 1, seek motive in LA family shooting Friday, 26 Oct 2012 | 9:32 AM ET

    DOWNEY, Calif.-- Authorities say a man held for questioning matches the description of a gunman who killed three people and critically wounded two others at a family-owned fire extinguisher business and a relative's nearby home in suburban Los Angeles.

  • China passes law to curb abuse of mental hospitals Friday, 26 Oct 2012 | 9:31 AM ET

    BEIJING-- China's legislature on Friday passed a long-awaited mental health law that aims to prevent people from being involuntarily held and unnecessarily treated in psychiatric facilities _ abuses that have been used against government critics and triggered public outrage.

  • ExxonMobil executive gunned down in Belgium Friday, 26 Oct 2012 | 9:27 AM ET

    BRUSSELS-- So far, it's still a mystery. Was the killing of Nicholas Mockford, a 60- year-old executive for ExxonMobil, the world's largest oil company, a car-jacking gone wrong?

  • Output challenge denies Big Oil best of Q3 bonanza Friday, 26 Oct 2012 | 9:24 AM ET

    LONDON/ SAN FRANCISCO, Oct 26- Top oil companies in the western world are missing out on the full benefits of strong crude prices because of costly production outages and delays in bringing on new capacity, third-quarter results are set to show. ``Earnings are... down 13 percent year-on-year, worse than the 2 percent decrease in Brent prices- once again demonstrating the majors' poor margin capture in a strong commodity price environment and rising cost pressures,'' said Credit Suisse analysts in a note on the top European players.

  • *Barnes Group 3Q net drops 20.5 percent Friday, 26 Oct 2012 | 9:23 AM ET
  • Dow Corning 3Q profit falls on European weakness Friday, 26 Oct 2012 | 9:19 AM ET

    MIDLAND, Mich.-- Dow Corning's third-quarter net income dropped 45 percent as polysilicon prices continued to fall because of industry oversupply and sales declined in Europe.

  • US growth figures shore up markets after Apple hit Friday, 26 Oct 2012 | 9:18 AM ET

    Both firms reported losses after the market close on Thursday, contributing to a sour trading session in Asia. "Strength in consumer spending remains an encouraging feature to today's report into the final quarter," said Andrew Wilkinson, chief economic strategist at Miller Tabak& Co. "As they say, never write off the consumer."

  • Oil rebounds to over $86 a barrel on US growth Friday, 26 Oct 2012 | 9:12 AM ET

    By early afternoon in Europe, benchmark oil for December delivery was up 22 cents to $86.27 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 32 cents to finish at $86.05 a barrel in New York on Thursday. In London, Brent Crude was up 45 cents to $108.94 on the ICE Futures exchange.

  • LifePoint 3Q income halved; company cuts outlook Friday, 26 Oct 2012 | 9:11 AM ET

    LifePoint runs 56 hospitals in rural areas, up 10 percent from a year ago, in 19 states. Excluding one-time items, LifePoint said it earned 60 cents per share. LifePoint said its revenue will be between $3.35 billion to $3.4 billion.

  • Toyota widens global sales lead over GM in 3Q Friday, 26 Oct 2012 | 9:08 AM ET

    DETROIT-- Toyota has widened its global sales lead over General Motors because its factories have recovered from last year's earthquake. Toyota could face a slowdown in the fourth quarter as sales fall in China. Anti-Japanese sentiment flared in China after Japan nationalized tiny islands in the East China Sea.

  • HONG KONG, Oct 26- Hong Kong shares snapped a ten-day winning streak on Friday, as the Hang Seng Index retreated from 2012 highs, dragged down by China Unicom's 7.6 percent slump after posting disappointing third quarter corporate earnings.

  • Ahead of the Bell: Credit Suisse upgrades CarMax Friday, 26 Oct 2012 | 9:06 AM ET

    DETROIT-- Shares of used-car dealership chain Carmax Inc. could get a boost Friday from a Credit Suisse analyst's upgrade. CarMax's store base is rising from 110 to more than 300, one of the largest expansions in the retail business, Balter wrote.

  • US futures mixed after US growth report Friday, 26 Oct 2012 | 9:05 AM ET

    NEW YORK-- Stock futures were mixed but recovered from sharp declines Friday after the government reported that economic growth during the third quarter was slightly better than expected thanks in part to stronger consumer spending. The Commerce Department reported that the economy expanded at 2 percent annual rate from July through September.

  • Amcol 3Q profit falls on tough comps to prior year Friday, 26 Oct 2012 | 9:03 AM ET

    HOFFMAN ESTATES, Ill.-- Mineral producer Amcol International posted a 6 percent decline in net income for the third quarter, partially as a result of tough comparisons to a prior-year period boosted by the sale of some assets.

  • ImmunoGen takes wider 1st-qtr loss as costs grow Friday, 26 Oct 2012 | 8:59 AM ET

    WALTHAM, Mass.-- ImmunoGen Inc. on Friday said that its fiscal first quarter loss widened 29 percent, as it spent more money developing its experimental drugs.

  • Dana Holding 3Q net income falls by more than half Friday, 26 Oct 2012 | 8:55 AM ET

    MAUMEE, Ohio-- Auto parts maker Dana Holding Corp. said Friday that its third-quarter net income sank by more than half, hurt by soft demand from North American commercial vehicle makers and South America.

  • *Romney places TV ads in Minnesota Friday, 26 Oct 2012 | 8:54 AM ET
  • *1 killed, 43 hurt in riot at Peru wholesale market Friday, 26 Oct 2012 | 8:53 AM ET
  • Arch Coal reports sharply higher 3Q earnings Friday, 26 Oct 2012 | 8:53 AM ET

    ST. LOUIS-- Arch Coal Inc. said Friday that cost-control efforts helped boost its third-quarter results well above Wall Street expectations. Adjusted income was 20 cents per share, compared with a loss of 15 cents on revenue of $1.02 billion, according to FactSet.