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Latest Business News Wires - Business Headlines


  • Oct 29- Hurricane Sandy has already knocked out power to more than 1.3 million homes and businesses along the U.S. East Coast. The following power holding companies have utility units that reported outages on Monday.

  • WASHINGTON, Oct 29- Several justices on the U.S. Supreme Court voiced concern on Monday about letting U.S. copyright holders block the resale inside the country of products they make elsewhere, in one of the court's biggest copyright cases in years.

  • Asia's souring debt a threat to StanChart magic Monday, 29 Oct 2012 | 9:03 PM ET

    HONG KONG, Oct 30- Rising bad loans in some of Asia- focused Standard Chartered's main markets such as India could take some of the shine off an otherwise strong quarterly trading update on Tuesday- which is likely to say the bank is on track for a 10th straight year of record profits.

  • Lessons from Irene help retailers cope with Sandy Monday, 29 Oct 2012 | 9:03 PM ET

    NEW YORK, Oct 29- U.S. retailers preparing for the worst of Hurricane Sandy as it hit the East Coast on Monday looked back to only a year ago to Hurricane Irene for a blueprint. We learned a number of things from that,'' Terry Johnson, Lowe's senior vice president of store operations, told Reuters.

  • WASHINGTON, Oct 29- The U.S. Internal Revenue Service has awarded $38 million to a whistleblower for information about a tax dodge involving a large corporation, according to the informant's lawyers. The IRS sent the check last week, Knott said. It is unknown how much money the IRS collected in additional taxes.

  • MUMBAI, Oct 30- India's central bank faces growing pressure to cut interest rates later on Tuesday for the first time since April after the finance minister pledged to rein in the country's fiscal deficit.

  • WASHINGTON, Oct 29- As Hurricane Sandy bears down on the U.S. East Coast little more than a week before the presidential election, President Barack Obama's fortunes may in part depend on how well a former volunteer firefighter from Florida does his job.

  • The nuclear reactors in Sandy's current path include units at Public Service Enterprise Group Inc's 2,332- megawatt Salem and 1,161- MW Hope Creek plants in New Jersey, which were likely to bear the brunt of the storm before it moves inland.

  • SAN FRANCISCO, Oct 29- A handful of individual super-donors, business groups and unions have poured more than $350 million into California ballot initiatives ahead of the Nov. 6 election, underscoring the extent to which the state's system of ``direct democracy'' has morphed into a big-money battleground.

  • NEW YORK, Oct 29- The supply of gasoline, diesel and jet fuel into the U.S. East Coast ground almost to a halt on Monday as Hurricane Sandy forced the closure of two-thirds of the region's refineries, its biggest pipeline, and most major ports.

  • LANCASTER, England, Oct 29- Britain's construction sector, the main drag on the economy so far this year, should improve soon, Bank of England policymaker Ben Broadbent said on Monday. According to official data, Britain endured its second recession in four years between October 2011 and June 2012, when construction output slumped.

  • Oct 29- Hurricane Sandy brought wind and rain to the streets of New York City on Monday, but on Wall Street, it also brought a day of eerie, almost unsettling calm. Steve Gerbel, who runs hedge fund Chicago Capital Management, said that, when he called a Goldman trading desk on Monday, he got to talk to employees from its Salt Lake City office for the first time.

  • NEW YORK, Oct 29- Commodities fell broadly on Monday after a powerful storm lashed the U.S. East Coast, closing down Wall Street and whittling investor activity across financial markets. The U.S. currency ran up as the euro fell on uncertainties on whether Greece could agree to a deal on austerity and whether Spain would request for aid.

  • CHICAGO, Oct 29- U.S. soybean futures fell 2.2 percent on Monday, their biggest daily slide in almost a month, due to crop-friendly weather forecasts for top producer Brazil and concerns about Hurricane Sandy's impact on the U.S. financial sector.

  • *UPS, FedEx widely viewed as economic bellwethers. The world's largest package delivery company, and rival FedEx Corp, are closely watched for indications of consumer demand, the health of retailers and the state of the economy.

  • Oct 29- Hurricane Sandy is moving toward Cape May, New Jersey, the U.S. National Hurricane Center said on Monday.

  • NEW YORK, Oct 29- U.S. gasoline futures rallied while benchmark crude oil prices dipped on Monday as Hurricane Sandy slowed East Coast fuel deliveries to a crawl, with major refineries shut, pipelines idle and ports closed.

  • WRAPUP 3-Hurricane Sandy lashes U.S. East Coast Monday, 29 Oct 2012 | 8:05 PM ET

    *New York, Philadelphia and Washington in its path. NEW YORK/ REHOBOTH BEACH, Del., Oct 29- Hurricane Sandy, one of the biggest storms ever to hit the United States, battered the densely populated East Coast on Monday, shutting down transportation, forcing evacuations in flood-prone areas and interrupting the presidential election campaign.

  • ANALYSIS-Euro zone ponders best path to "GEMU" Monday, 29 Oct 2012 | 8:00 PM ET

    PARIS, Oct 29- In the rich lexicon of Brussels acronyms, a new treasure has entered the vocabulary since June: GEMU. It stands for Genuine Economic and Monetary Union, a term used in the conclusions of the last two European Union summits in a tacit acknowledgement that the single currency created by the 1992 Maastricht Treaty was flawed and woefully incomplete.

  • Global regulators probe how banks tot up risks Monday, 29 Oct 2012 | 8:00 PM ET

    LONDON, Oct 29- Global banking regulators are investigating why banks use such a wide variety of ways to assess risk amid fears the current method for calculating capital safety cushions is not safe and is being gamed.