Latest Business News Wires - Business Headlines


  • Oct 26- A New York man was arrested Friday on charges he forged documents in a multibillion-dollar scheme to defraud Facebook Inc and its chief executive, Mark Zuckerberg, through a lawsuit claiming a huge ownership stake in the Internet company.

  • *Spain seen on track to correct problems in financial sector. NEW YORK, Oct 26- The euro was little changed against the dollar on Friday after three straight days of losses, though concerns whether Spain will ask for a bailout and worries about Greece were expected to weigh on the currency.

  • Clearwire to use Huawei equipment in network upgrade Friday, 26 Oct 2012 | 8:33 PM ET

    NEW YORK, Oct 26- Wireless service provider Clearwire Corp said on Friday it will use equipment from China's Huawei in a high-speed network upgrade it starts in 2013, with the blessing of the U.S. government. Sprint, which is being taken over by Softbank Corp, plans to use the Clearwire high-speed network to boost its capacity for its own service.

  • NEW YORK, Oct 26- U.S. Analysts said the data could not only shed light on the nascent labor market recovery but also influence an increasingly tight election between Republican Mitt Romney and Democrat Barack Obama.

  • NEW YORK, Oct 26- U.S. stocks finished flat on Friday, recovering from moderate declines as bargain hunters lifted Apple off its lows and bought other stocks recently battered by disappointing results.

  • GENEVA/ PARIS, Oct 26- Switzerland's Maus Freres Group has agreed to buy an additional 30.3 percent stake in Lacoste SA, on top of the 35 percent it already holds and valuing the classic French sportswear maker at between 1.0 billion and 1.25 billion euros.

  • *JPMorgan, Raine Group hired to assess options-source. LOS ANGELES, Oct 26- Current TV, the liberal cable news channel started by former Vice President Al Gore, has hired JP Morgan and The Raine Group to assess strategic options that may include a sale or strategic partnership with another media company, according to a person with knowledge of the operation.

  • US election drives equity, rate volatility Friday, 26 Oct 2012 | 7:49 PM ET

    NEW YORK, Oct 26- A Republican win in the US presidential election on November 6 may not be as bullish for financial markets as many believe if the latest equity and rates moves are anything to go by. Romney had consistently trailed about seven percentage points in the Reuters/ Ipsos daily tracking poll of the popular vote but now leads Barack Obama by one point.

  • NASSAU, Oct 26- Hurricane Sandy, a late-season Atlantic storm unlike anything seen in more than two decades, slogged slowly toward the U.S. East Coast on Friday after killing at least 41 people as it cut across the Caribbean.

  • CHICAGO, Oct 26- U.S. soybeans slipped for a second straight day on Friday on signs of waning U.S. exports and improving crop weather prospects in South America that could lead to bumper output in Brazil and Argentina.

  • Arabica coffee led the losses with a fall of 2 percent in New York, hit by a combination of weak demand, a huge, looming Brazilian crop and technical selling.

  • FDA: Pharmacy tied to outbreak knew of bacteria Friday, 26 Oct 2012 | 7:21 PM ET

    WASHINGTON-- Staffers at a pharmacy linked to the deadly meningitis outbreak documented dozens of cases of mold and bacteria growing in rooms that were supposed to be sterile, according to federal health inspectors.

  • Oct 26- Low interest rates are turning out to be a big boon for Moody's Corp.. Moody's reported a 41 percent jump in quarterly profit on Friday and raised its full-year earnings forecast for the second time in six weeks on a wave of new debt issues, many from corporations looking to cut their interest expense.

  • *Wall St little changed in volatile session; Apple trades flat. Although data showed a pick-up in U.S. economic growth in the third quarter, gloomy earnings and outlook statements from major global companies such as Apple and Amazon, South Korea's Samsung and Renault and Ericsson in Europe corroded hopes of a recovery in the global economy.

  • Oct 26- The U.S. Food and Drug Administration said on Friday it found ``greenish black foreign matter'' and other contaminants in an injectable steroid produced by the New England Compounding Center, the pharmacy at the heart of a deadly U.S. meningitis outbreak.

  • Mexico will host finance ministers and central bankers from the bloc of advanced and developing countries next weekend at a meeting that is expected to focus heavily on Europe's ongoing debt crisis, with Spain tipped as the next country to seek aid.

  • Moody's reviewing US units of 2 Canadian banks Friday, 26 Oct 2012 | 6:40 PM ET

    NEW YORK-- Moody's Investors Service warned Friday that it could downgrade its debt ratings on the U.S. subsidiaries of two Canadian banks, Toronto-Dominion Bank and Bank of Montreal, after the parent companies' ratings were placed on review.

  • NEW YORK, Oct 26- The euro traded flat against the dollar on Friday after three straight days of losses, though concerns whether Spain will ask for a bailout and worries about Greece were expected to weigh on the currency.

  • BOSTON, Oct 26- Citigroup fired top Internet analyst Mark Mahaney and paid a $2 million fine to a Massachusetts regulator to settle charges that the bank improperly disclosed research on Facebook's IPO and information on other tech companies.

  • S&P upgrades outlook on Lions Gate Friday, 26 Oct 2012 | 6:33 PM ET

    NEW YORK-- Standard& Poor's Ratings Services on Friday upgraded its outlook on Lions Gate Entertainment Corp. given the strength of the television and movie company's recent films.