Latest Business News Wires - Business Headlines


  • Coming changes in estate, gift taxes stir 'frenzy' Wednesday, 24 Oct 2012 | 5:09 PM ET

    CHICAGO-- Taxes that are largely a concern of the very rich will soon affect far more people unless Congress steps in. Financial advisers, and trust and estate attorneys have been flooded with requests for assistance in the final months before the record-high exemption for both taxes is scheduled to plunge to $1 million from $5.12 million on Jan 1.

  • *Preliminary hearing in High Court on Monday. LONDON, Oct 24- Barclays will on Monday face the first claim for damages stemming from manipulation of the Libor interest rate in a landmark case before Britain's High Court that could have major implications for all UK banks.

  • Akamai 3Q profit, sales beat expectations Wednesday, 24 Oct 2012 | 5:06 PM ET

    CAMBRIDGE, Mass.-- Online content-delivery company Akamai Technologies Inc. said Wednesday that its third-quarter earnings rose 14 percent from a year ago as revenue grew. Net income in the three months to Sept. 30 rose to $48.2 million, or 27 cents per share, from $42.3 million, or 23 cents per share, a year ago.

  • *First court verdict to thwart Gazprom's take-or-pay claim. *Gazprom paid $2.5 bln to European firms as part of pricing deal. PRAGUE/ MOSCOW, Oct 24- RWE Transgas, the Czech unit of Germany's RWE, has won a landmark dispute with Gazprom over gas contracts, after a court ruled for the first time that a company did not have to pay fines under a ``take-or-pay'' clause.

  • Argentine enforcer may auction critic's licenses Wednesday, 24 Oct 2012 | 5:03 PM ET

    BUENOS AIRES, Argentina-- Argentina's new media regulator said Wednesday that he's prepared to auction off the broadcast licenses of the government's leading critic.

  • Crocs 3Q net income rises 49 percent Wednesday, 24 Oct 2012 | 5:00 PM ET

    NIWOT, Colo.-- Crocs Inc., which makes colorful plastic shoes, said Wednesday that its net income rose 49 percent in the third quarter, helped by strength in the U.S. and Asia. But the company said demand slowed in Asia, particularly Japan, as the third quarter progressed, and it offered a fourth-quarter outlook below analysts' expectations.

  • News Summary: SAP sales rise, outlook lifted Wednesday, 24 Oct 2012 | 4:58 PM ET

    THE NUMBERS: Business software maker SAP AG's third-quarter profit fell 51 percent because of a large year-ago gain stemming from a legal settlement. But revenue grew 16 percent, and the company lifted its sales outlook for the year.

  • Knight Transportation's profit flat in 3rd quarter Wednesday, 24 Oct 2012 | 4:58 PM ET

    PHOENIX-- Trucking company Knight Transportation Inc. said the third quarter was tougher than expected, as high fuel prices and a weak economy hurt demand for freight-shipping, resulting in flat earnings. The company said Wednesday that its net income was $16.6 million, or 21 cents per share, virtually the same results as the 2011 third quarter.

  • Dollar little changed vs euro after Fed decision Wednesday, 24 Oct 2012 | 4:58 PM ET

    NEW YORK-- The dollar traded in tight ranges against the euro Wednesday after the Federal Reserve said the economy is improving only moderately and still needs its support to help lower unemployment. The euro slipped to $1.2973 in late trading Wednesday from $1.2976 late Tuesday. In other trading, the British pound rose to $1.6036 from $1.5942.

  • PONTIAC, Michigan, Oct 24- General Motors Co said the redesigned 2014 Chevrolet Corvette that goes on sale next year will get a new 450- horsepower V8 engine.

  • News Summary: Cocoa falls on plentiful supplies Wednesday, 24 Oct 2012 | 4:56 PM ET

    COCOA BUZZKILL: Cocoa fell 4 percent on reports of good production in several African nations, including the Ivory Coast. Traders also speculated about the potential for diminishing demand in financially troubled Europe, home to the biggest number of chocolate consumers.

  • News Summary: US new home sales reach 2-year high Wednesday, 24 Oct 2012 | 4:55 PM ET

    HIGHER SALES: U.S. sales of new homes jumped last month to the highest level in more than two years, the latest evidence of a sustained housing recovery that could boost the sluggish economy.

  • Swiss companies brace for "fat cat" pay vote Wednesday, 24 Oct 2012 | 4:52 PM ET

    *Swiss to vote on curbing executive pay on March 3. ZURICH, Oct 24- Swiss business is rallying to arms to defend top managers' pay as the government set a date on Wednesday for a referendum that may impose the world's first law forcing companies to accept any limits shareholders place on executive rewards.

  • Wynn Resorts' 3Q profit falls, revenue flat Wednesday, 24 Oct 2012 | 4:52 PM ET

    LAS VEGAS-- Wynn Resorts Ltd. says its profit fell nearly 12 percent in the third quarter, as a debt-related loss boosted expenses for the casino operator. The Las Vegas company said Wednesday that net income fell to $112 million, or $1.11 per share, compared with net income of $127.1 million, or $1.01 per share, a year earlier.

  • Global trade in services stopped growing in Q2 Wednesday, 24 Oct 2012 | 4:51 PM ET

    GENEVA, Oct 24- Global trade in commercial services such as tourism and air travel showed zero growth in the second quarter of 2012 as the Europe Union's appetite shrank 7 percent, preliminary trade figures showed on Wednesday. The Europe- led slowdown follows a Europe- led boom a year ago.

  • News Summary: Eurozone debt hits new peak Wednesday, 24 Oct 2012 | 4:51 PM ET

    DEBT PROBLEMS GROW: Europe's debt problems are getting worse, as new figures show total government debt of the 17 countries that use the euro was worth 90 percent of their total economic output as of the end of the second quarter.

  • Oct 24- Chili's Grill& Bar parent Brinker International Inc on Wednesday said a cool-down in sales at established restaurants was stretching into the current quarter, sending its shares down more than 10 percent.

  • The White House released it Wednesday after the editor of the newspaper, which is still deciding its presidential endorsement, wrote a blistering blog complaining of the restriction.

  • News Summary: Nintendo cuts year forecast Wednesday, 24 Oct 2012 | 4:48 PM ET

    LESS RED INK: Nintendo Co. narrowed its losses in the first half of its fiscal year. A year ago, it had cut the price of its 3 DS game machine, hurting its results.

  • Ky. miners to plead guilty in federal court Wednesday, 24 Oct 2012 | 4:48 PM ET

    LOUISVILLE, Ky.-- Two mining officials who worked at an eastern Kentucky underground mine where a worker was killed last year are preparing to plead guilty to federal safety violations, according to court records.