Latest Business News Wires - Business Headlines


  • UPDATE 1-KKR's Kravis to put money in Spain, Europe Thursday, 25 Oct 2012 | 10:38 AM ET

    *$139 billion in dry powder in Asia, $130 bln new funds being raised-Preqin. Kravis, who co-founded KKR& Co LP in 1976 with his cousin George Roberts and colleague Jerry Kohlberg, was in Singapore to open the firm's new office there- its seventh in Asia since entering the region in 2005..

  • US natural gas supplies grew last week Thursday, 25 Oct 2012 | 10:37 AM ET

    The Energy Department's Energy Information Administration reported that natural gas in storage grew 67 billion cubic feet to 3.843 trillion cubic feet for the week ended Oct. 19. Analysts expected a rise of 63 billion to 67 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

  • Occidental's 3Q results hurt by lower prices Thursday, 25 Oct 2012 | 10:37 AM ET

    LOS ANGELES-- Occidental Petroleum saw third-quarter profit fall 22 percent as an increase in production was offset by lower oil and natural gas prices. Occidental reported net income of $1.38 billion, or $1.69 per share, in the quarter that ended Sept. 30.

  • UPDATE 1-Aetna posts higher profit, gives bullish outlook Thursday, 25 Oct 2012 | 10:33 AM ET

    The company also raised its 2012 outlook on Thursday to the top end of its previous forecast of $5.00 to $5.10 a share. The company said third-quarter earnings had risen to $499.2 million, or $1.47 per share, from $490.4 million, or $1.30 per share, a year earlier.

  • Bunge 3Q net income rises, revenue increases Thursday, 25 Oct 2012 | 10:30 AM ET

    WHITE PLAINS, N.Y.-- Agribusiness and food company Bunge Ltd.' s third-quarter net income more than doubled as revenue rose on strength in its agribusiness division. Bunge said Thursday that crop supplies need to approach record levels to rebuild stocks. For the period ended Sept. 30, earnings rose to $289 million, or $1.92 per share.

  • Senate: Medtronic shaped articles promoting Infuse Thursday, 25 Oct 2012 | 10:30 AM ET

    WASHINGTON-- Medical device maker Medtronic Inc. helped write and edit medical journal articles attributed to outside physicians, which downplayed the risks of the company's best-selling bone graft, according to a report by Senate investigators.

  • Sioux Falls braces for crowds at McGovern services Thursday, 25 Oct 2012 | 10:27 AM ET

    SIOUX FALLS, S.D.-- South Dakota's largest city is welcoming political figures, family and friends in town to mark the life and career of former Democratic U.S. senator and three-time presidential candidate George McGovern, a legend in state's political history who died Sunday at age 90..

  • UK police: 300 potential victims of Jimmy Savile. Thursday, 25 Oct 2012 | 10:27 AM ET

    LONDON-- UK police say officers have identified 300 potential victims of the late Jimmy Savile, the disgraced BBC entertainer now believed to be a predatory pedophile. The BBC has been rocked by allegations that Savile sexually abused underage teens over several decades, sometimes on BBC premises.

  • Hershey 3Q profit dips 10 pct on one-time charges Thursday, 25 Oct 2012 | 10:26 AM ET

    NEW YORK-- Hershey reported a 10 percent drop in third-quarter net income as one-time charges led to the first such decline in four quarters, but it raised its profit outlook for whole year. The maker of Reese's Pieces, Hershey's Kisses and Jolly Ranchers earned $176.7 million, or 77 cents per share in the three-month period ended Sept. 30.

  • *Jackson freed after Ill. workers' protest arrest Thursday, 25 Oct 2012 | 10:26 AM ET
  • Threats of dismissal breaking SAfrica's strikes Thursday, 25 Oct 2012 | 10:25 AM ET

    South Africa's Chamber of Mines, representing mine owners, announced Thursday that it had agreed with the National Union of Mineworkers to raise gold miners' monthly salaries by up to 500 rand, in addition to a pay raise of up to 10 percent that miners got in July, weeks before wildcat strikes hit South Africa's platinum and gold mines.

  • *Smithsonian launches marine effort with $10M gift Thursday, 25 Oct 2012 | 10:23 AM ET
  • New Summary: Sprint posts wider 3rd-quarter loss Thursday, 25 Oct 2012 | 10:23 AM ET

    SPRINTING AWAY: In the July to September period, Sprint Nextel Corp. lost subscribers for the first time in two and a half years. However, Sprint's network offers slower data downloads than the bigger rivals in most places. BOTTOM LINE: Sprint's loss widened to $767 million, or 26 cents per share.

  • Germany orders recall of some Novartis flu shots Thursday, 25 Oct 2012 | 10:21 AM ET

    BERLIN-- German authorities ordered a recall Thursday of some batches of Novartis flu vaccine as a precautionary measure after the company reported the appearance of small particles in the manufacturing process. Italy's health ministry banned the sale of four Novartis flu drugs on Wednesday.

  • Linn Energy posts 3Q loss on commodity hedging Thursday, 25 Oct 2012 | 10:20 AM ET

    HOUSTON-- Linn Energy LLC posted a $430 million loss for the third quarter on Thursday because of losses from commodity derivatives intended to reduce fluctuations in cash flow. The company said that without the hedging losses, it would have earned $89.8 million, or 45 cents per share.

  • Imax shares jump on strong 3rd-quarter results Thursday, 25 Oct 2012 | 10:18 AM ET

    LOS ANGELES-- Imax Corp. said Thursday its third-quarter profit jumped 79 percent, as the company installed its systems in more theaters and made more money from converting movies to the Imax format. The news pleased investors and Imax shares jumped in morning trading.

  • UPDATE 1-ZTE posts a first quarterly loss, margins bleed Thursday, 25 Oct 2012 | 10:16 AM ET

    HONG KONG, Oct 25- ZTE Corp, the world's fourth-biggest maker of mobile phones and fifth-ranked telecommunications equipment manufacturer, reported a $310 million net loss for July-September, its first quarterly loss, as margins thinned, overseas projects were delayed and it made accounting changes at home in China.

  • Reuters World News Highlights 1000 GMT, Oct 25 Thursday, 25 Oct 2012 | 10:16 AM ET

    HAVANA- Hurricane Sandy, strengthening rapidly after crossing the warm Caribbean Sea, slammed into southeastern Cuba early on Thursday with 105 mph winds that cut power and blew over trees across the city of Santiago de Cuba.

  • AutoNation CEO: Car sales recovery will continue Thursday, 25 Oct 2012 | 10:14 AM ET

    AutoNation Inc. CEO Mike Jackson said people who held onto their cars through the Great Recession in 2008 and 2009 now have to make a choice between sinking thousands into repairing old vehicles or buying new ones.

  • Aetna reports higher quarterly profits, raises outlook Thursday, 25 Oct 2012 | 10:13 AM ET

    Oct 25- Aetna Inc., the third-largest U.S. health insurer, reported a higher quarterly profit on Thursday as it reached its 2012 goal of 18.2 million members ahead of schedule and kept costs down. It previously had forecast $5.00 to $5.10.