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Latest Business News Wires - Business Headlines


  • U.S. money markets returning to normal after Sandy Thursday, 1 Nov 2012 | 5:05 PM ET

    NEW YORK, Nov 1- U.S. money markets showed signs of returning to normal on Thursday after a devastating storm disrupted major markets earlier this week and caused Wall Street firms, U.S. banks and companies to scramble for cash.

  • Nov 1- Hillshire Brands Co reported a first-quarter net profit on Thursday that beat Wall Street estimates by a wide margin, but the packaged meat company stood by its full-year outlook. Hillshire Brands therefore still expects fiscal 2013 earnings of $1.40 per share to $1.55 per share.

  • Nov 1- Refiner Marathon Petroleum Corp expects U.S. distillate demand to rise by 3.7 percent in 2013-- including exports-- and the company aims to increase distillate yields at its Louisiana refinery to reap the benefits, Chief Executive Gary Heminger told analysts on Thursday.

  • JOHANNESBURG, Nov 1- South Africa's unemployment rate rose in the third quarter, with more than one in four out of work and unrest in the mining sector expected to drive that number higher still.

  • SAN FRANCISCO, Nov 1- Apple Inc's iPad mini uses a display from South Korea's Samsung Electronics Co Ltd, one of Apple's major suppliers and also its fiercest rival in the global mobile-device market that the two companies dominate.

  • Foster Wheeler moving HQ again, this time near London Thursday, 1 Nov 2012 | 4:57 PM ET

    Nov 1- Engineering company Foster Wheeler AG is moving its corporate headquarters for the second time in three years, this time from Geneva to a city just outside London. According to a letter amending the contract of Chief Executive Kent Masters, the date of the company's headquarters move from Switzerland to Reading, England, is March 1, 2013.

  • NEW YORK/ LONDON, Nov 1- Arabica coffee futures dropped to the lowest level in more than four months on Thursday, on pressure from the firm U.S. dollar and as chart-based selling was triggered below the previous low, while robusta coffee was firm, sitting just above a six-month low.

  • LONDON, Nov 1- German government bonds were steady on Thursday, as uncertainty over the outcome of the presidential election in the United States limited the impact of better-than-expected economic data. In Europe, worries over Greece's efforts to seal a deal to draw more money from its bailout were keeping safe haven assets such as Bunds in demand.

  • *Costco, Nordstrom, Rite Aid say storm may affect November sales. Costco Wholesale Corp, Nordstrom Inc and Rite Aid Corp all said on Thursday that November sales would suffer because of store closures due to Sandy, one of the largest storms to hit the United States. Costco, however, said the effects would be minimal.

  • US STOCKS SNAPSHOT-Wall Street jumps on strong data Thursday, 1 Nov 2012 | 4:41 PM ET

    NEW YORK, Nov 1- U.S. stocks added to gains on Thursday, with major indexes up more than 1 percent, after bullish jobs and consumer confidence data lifted sentiment. The Dow Jones industrial average was up 134.59 points, or 1.03 percent, at 13,231.05. The Nasdaq Composite Index was up 41.83 points, or 1.41 percent, at 3,019.07.

  • Nov 1- Printing services provider RR Donnelley& Sons Co, which mistakenly filed Google Inc's earnings report ahead of schedule two weeks ago, said it has put measures in place to prevent any such incidents in the future.

  • *Data on China's factories, U.S. jobs boost equities. NEW YORK, Nov 1- Stocks on major markets rose on Thursday after data showed China's economy regaining some traction and there were signs of improvement in the U.S. labor market, while oil prices slipped on concern about the impact on demand from the storm in the U.S.

  • WASHINGTON, Nov 1- Wells Fargo asked a federal court on Thursday to enforce the terms of a multi-bank, $25 billion mortgage deal agreed to earlier this year, and said the United States government violated that judgment through a separate lawsuit it filed in October.

  • NEW YORK, Nov 1- The euro slipped against the dollar o n T hursday after a Greek court ruled the country's pension reform demanded by foreign lenders may be unconstitutional, stoking worries about Athens' ability to implement austerity measures needed to secure aid.

  • European shares spurred on by earnings and macro data Thursday, 1 Nov 2012 | 4:34 PM ET

    LONDON, Nov 1- Investors set aside growth worries as European shares clawed back the previous session's losses on Thursday, buoyed by earnings from European companies and better macro economic data in China and the United States.

  • NEW YORK, Nov 1- At least 37 people have been killed in New York City due to the massive storm Sandy, Mayor Michael Bloomberg said on Thursday. Downtown Manhattan and parts of the city's Brooklyn borough remain without electricity, and restoration of power will ``take time,'' Bloomberg said at a briefing.

  • UK comedian arrested by sex scandal detectives Thursday, 1 Nov 2012 | 4:30 PM ET

    LONDON-- The child abuse scandal consuming the legacy of the late entertainer Jimmy Savile netted its second celebrity arrest Thursday as police swooped in on British comedian Freddie Starr, media reported.

  • WASHINGTON, Nov 1- U.S. companies added jobs in October at the fastest pace in eight months, a sign of modest healing in the labor market just days before a presidential election that could hinge on the economy. Private employers added 158,000 workers last month, the biggest gain since February, payrolls processor Automatic Data Processing said.

  • LONDON, Nov 1- Mining group Anglo American is starting the search for a new chief executive to replace Cynthia Carroll and take on what analysts and investors say is one the toughest jobs in the resources sector. South Africa, for its part, has indicated it would prefer a South African for the job. *Rene Medori, finance director, 55.

  • Nov 1- Health insurer Cigna Corp raised its earnings outlook for the year as its recent purchase of specialized Medicare provider HealthSpring again helped the bottom line more than expected, enabling it to beat analyst forecasts for quarterly profits.