Latest Business News Wires - Business Headlines


  • Mont. oil lease sale could mark Bakken expansion Thursday, 25 Oct 2012 | 11:55 AM ET

    BILLINGS, Mont.-- A Texas company has bought oil and gas leases on almost 75,000 acres in northeast Montana's McCone County in a move that could portend a significant westward expansion of the Bakken oil patch, government officials and a company representative said Wednesday.

  • Sovereign wealth funds, pension funds turn bankers Thursday, 25 Oct 2012 | 11:54 AM ET

    LONDON, Oct 25- Yield-hungry pension funds and sovereign wealth funds are stepping in where crisis-hit, regulation-laden banks are pulling back: lending to cash-starved businesses.

  • Oct 25- Fashion company Fifth& Pacific Cos Inc reported a loss from its continuing operations, hurt by the ongoing struggles of its Juicy Couture brand. Fifth& Pacific, known as Liz Claiborne Inc until May, reported a third-quarter net loss of $18.8 million, or 17 cents a share, compared with a year-earlier loss of $214.6 million, or $2.27 a share.

  • *Ford to close Southampton plant, Dagenham stamping plant. LONDON/ BASILDON, England, Oct 25- Ford will stop making vans in Britain next year, with the potential loss of 2,000 jobs, a union leader said, as part of a plan by the U.S. car maker to drag its European operations back into profit.

  • MADRID, Oct 25- Spain will tap 60 billion euros from a European credit line agreed in June to recapitalise its troubled lenders, a draft amendment before Parliament showed, but the government still plans to use only 40 billion of that. The financial sector reform must be enacted before the end of November as part of the conditions for Spain to get aid for the banks.

  • Potash Corp. 3rd-quarter net income falls 22 pct Thursday, 25 Oct 2012 | 11:52 AM ET

    Potash Corp. of Saskatchewan Inc. said Thursday that its net income fell 22 percent on a drop in overseas sales. The Canadian fertilizer maker earned $645 million, or 74 cents per share, down from $826 million, or 94 cents per share, in the same quarter last year.

  • SAO PAULO, Oct 25- Banco Santander Brasil SA posted an 8.5 percent decline in third-quarter profit on Thursday, as rising delinquencies forced the nation's largest lender to boost bad loan provisions.

  • Earnings, excluding a one-time tax hit, fell to $233.7 million, or 70 cents a share, from $315 million, or 95 cents a share, a year earlier, CME said on Thursday. Revenue fell 22 percent to $683 million, missing the Wall Street forecast of $693 million, as trading declined 26 percent.

  • *Obama vows to protect women's health care rights Thursday, 25 Oct 2012 | 11:47 AM ET
  • Business events scheduled for Friday Thursday, 25 Oct 2012 | 11:47 AM ET

    WASHINGTON _ Commerce Department releases third-quarter gross domestic product, 8:30 a.m.. Arch Coal Inc. reports quarterly financial results. Comcast Corp. reports quarterly financial results.

  • Chicago Board of Education Oks teacher contract Thursday, 25 Oct 2012 | 11:47 AM ET

    CHICAGO-- The Chicago Board of Education has approved a three-year contract negotiated with the Chicago Teachers Union after a strike. Board President David Vitale said in a statement Wednesday the contract ensures a quality school day for students and gives teachers a fair raise and new professional development support.

  • Chevron says Australian well hit natural gas Thursday, 25 Oct 2012 | 11:47 AM ET

    SAN RAMON, Calif.-- Chevron Corp. said Thursday that it found natural gas during exploratory drilling off the coast of western Australia. San Ramon- based Chevron's Australian subsidiary is operating the project and owns 50 percent, with units of Royal Dutch Shell and Exxon Mobil Corp. each holding 25 percent.

  • Celgene results beat forecasts, as Revlimid delivers Thursday, 25 Oct 2012 | 11:47 AM ET

    Oct 25- Celgene Corp's quarterly results beat expectations on strong sales of its Revlimid cancer treatment, and the biotechnology company narrowly raised its full-year profit forecast. Excluding special items, Celgene earned $1.29 per share. Global company revenue rose 14 percent to $1.42 billon, topping Wall Street expectations of $1.41 billion.

  • On the Call: Altria Group CEO Marty Barrington Thursday, 25 Oct 2012 | 11:47 AM ET

    Altria Group Inc., the owner of the biggest U.S. cigarette maker, Philip Morris USA, continues to focus its efforts on building its premium Marlboro brand which has been under pressure from competitors and lower-priced cigarette brands as consumers face economic challenges and unemployment remains high.

  • US mortgage rates for past 52 weeks at a glance Thursday, 25 Oct 2012 | 11:46 AM ET
  • News Summary: Durables signal companies cautious Thursday, 25 Oct 2012 | 11:46 AM ET

    BUSINESSES CAUTIOUS: U.S. companies remained cautious in September and held back on orders for long-lasting manufactured goods that signal investment plans. THE NUMBERS: Total orders for durable goods rose 9.9 percent in September because of a sharp gain in volatile aircraft orders.

  • Spirit AeroSystems to take $590M in 3Q charges Thursday, 25 Oct 2012 | 11:45 AM ET

    WICHITA, Kan.-- Spirit AeroSystems will book $590 million in charges during the third quarter because of setbacks in several aircraft contracts, sending shares of the aviation supplier tumbling 24 percent.

  • JetBlue posts higher quarterly profit Thursday, 25 Oct 2012 | 11:45 AM ET

    Oct 25- JetBlue Airways Corp posted a higher quarterly profit on Thursday, as it gained business passengers and benefited from summer travel. Net income was $45 million, or 14 cents a share, in the third quarter, compared with $35 million, or 11 cents a share, a year earlier. Revenue rose 9 percent to $1.3 billion.

  • *SAfrica's finance minister decries inequality Thursday, 25 Oct 2012 | 11:45 AM ET
  • *Patriot Coal bankruptcy puts health care, pensions at risk. Oct 24- Peabody Energy Corp and Arch Coal Inc are being sued by mine workers who contend that the companies have an obligation to pay pension and health care benefits that were transferred to Patriot Coal in a 2007 spinoff.