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Latest Business News Wires - Business Headlines

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  • Nov 1- A significant portion of customers in Wells Fargo& Co's $1.9 trillion mortgage servicing portfolio remain strong candidates for mortgage refinancings, the head of the bank's home lending unit said on Thursday.

  • NEW YORK, Nov 1- New Yorkers awoke to the rumble of subway trains for the first time in four days on Thursday and the death toll continued to rise from the former hurricane Sandy, one the biggest and most devastating storms ever to hit the United States.

  • Nov 1- Marathon Petroleum Corp reported a better-than-expected quarterly profit on Thursday, though results were helped by the sale of assets in Minnesota, but suffered in the company's core refining unit.

  • WRAPUP 1-Oil companies struggle to increase output Thursday, 1 Nov 2012 | 2:14 PM ET

    LONDON/ HOUSTON, Nov 1- The world's top oil and gas companies are struggling to improve output and failing to capture the full value of a resilient price for crude oil while weak gas prices in the United States take their toll.

  • *Geithner wants FSOC to step in after SEC failed to act.

  • Nov 1- More than 4.7 million homes and businesses along the U.S. East Coast remained without power on Thursday after Hurricane Sandy battered the region. Sandy made landfall in New Jersey on Monday night. Power companies have reported a peak of nearly 8.48 million customers without power, according to a U.S. Department of Energy report.

  • *Mass. candidate's final ad: Quiet beach at sunset Thursday, 1 Nov 2012 | 2:12 PM ET
  • US STOCKS SNAPSHOT - Wall St adds to gains after data Thursday, 1 Nov 2012 | 2:09 PM ET

    NEW YORK, Nov 1- U.S. stocks extended gains on Thursday after data showed consumer confidence climbed to a more than four-year high in October and the pace of growth in U.S. manufacturing picked up modestly. The Dow Jones industrial average gained 136.16 points, or 1.04 percent, to 13,232.62. The S&P 500 gained 10.81 points, or 0.77 percent, to 1,422.97.

  • UPDATE 2-Cigna raises full-year profit forecast again Thursday, 1 Nov 2012 | 2:09 PM ET

    Nov 1- Health insurer Cigna Corp's quarterly profit more than doubled as its acquisition of Medicare specialist HealthSpring drove growth in premiums and fees, prompting the company to raise its full-year profit outlook for the third time this year.

  • LONDON, Nov 1- BP's decision to scrap plans for a U.S. cellulosic ethanol refinery is a setback for second generation biofuels and opens the door to alternatives including Brazilian sugar ethanol, biodiesel and electric vehicles.

  • NEW YORK, Nov 1- U.S. companies added 158,000 jobs in October in the biggest gain in eight months, data from a payrolls processor showed on Thursday in a revamped report on the private sector labor market. Un der the old method, Sep tember's gain was originally reported as 162,000..

  • NEW YORK, Nov 1- U.S. companies added 158,000 jobs in October, data from a payrolls processor showed on Thursday in a revamped report on the private sector labor market. The ADP National Employment Report showed September's job gains were revised up to 114,000 after initially being revised to 88,200 as part of ADP's new methodology.

  • *Cuts focused on Europe; Visteon to close Philippines plant. *Delphi third-quarter EPS $0.84 vs est $0.73. Nov 1- Auto parts suppliers Visteon Corp and Delphi Automotive Plc said they were accelerating cost cutting as carmakers slash production in the face of slowing demand, especially in Europe.

  • Nov 1- Disaster modeling company Eqecat now estimates that Hurricane Sandy caused up to $20 billion in insured losses and $50 billion in economic losses, the company said on Thursday. The insured loss estimate is double what Eqecat forecast previously.

  • U.S. manufacturing sector picks up in Oct-ISM Thursday, 1 Nov 2012 | 2:01 PM ET

    NEW YORK, Nov 1- The pace of growth in the U.S. manufacturing sector picked up modestly in October as new orders improved, though a measure of employment slowed, an industry report released on Thursday showed.

  • WASHINGTON, Nov 1- U.S. construction spending rose in September by the most in three months as stronger spending on homes made up for drops in business and government projects. Construction spending climbed 0.6 percent to an annual rate of $851.6 billion, the Commerce Department said on Thursday. That was in line with analysts' forecasts in a Reuters poll.

  • NEW YORK, Nov 1- U.S. consumer confidence rose in October to its highest in more than four years, according to a private sector report released on Thursday. The Conference Board, an industry group, said its index of consumer attitudes gained to 72.2 from a downwardly revised 68.4 in September.

  • *Q3 net 43 cents a share, vs 38 cents a share Street view. Nov 1- CBOE Holdings Inc said Thursday that third-quarter earnings fell 16 percent, less than analysts had expected, as the operator of the biggest and oldest U.S. stock-options market charged more for its products and services.

  • DUBAI, Nov 1- The United Arab Emirates' Dana Gas failed to repay a $920 million Islamic bond on maturity, prompting a source close to holders of the bond to say they will stake claim to the natural gas producer's extensive Egyptian assets.

  • FOREX-Euro edges higher vs dollar after U.S. data Thursday, 1 Nov 2012 | 1:52 PM ET

    *Yen dips on worries about Japan, importer selling. NEW YORK, Nov 1- The euro rose against the dollar on Thursday after data painted an improving outlook for the U.S. labor market and prompted investors to move away from the safe-haven U.S. currency.