Latest Business News Wires - Business Headlines


  • Oct 30- Hurricane Sandy has already knocked out power to more than 7 million homes and businesses along the U.S. East Coast. The following power holding companies have utility units that reported outages on Tuesday. Company States Customers Outages Percent FirstEnergy MD, NJ, PA, WV, OH 3,899,000 1,584,178.

  • Want to be Hungarian? Buy some bonds Tuesday, 30 Oct 2012 | 10:16 AM ET

    BUDAPEST, Oct 30- Lawmakers in indebted European Union member Hungary are waving the prospect of a passport at well-heeled foreign investors. Proposed legislation listed on parliament's website would grant permanent residency and ultimately Hungarian citizenship to outsiders who buy at least 250,000 euros worth of special government bonds.

  • Global machinery makers bank on China rebound in 2013 Tuesday, 30 Oct 2012 | 10:15 AM ET

    TOKYO/ BEIJING, Oct 30- Heavy equipment makers are pinning their hopes on a stimulus fuelled rebound in China in 2013, after suffering another bruising quarter as the global economy slowed faster than expected with little respite seen before the end of the year.

  • UPDATE 4-Brent steadies above $109, Sandy knocks demand Tuesday, 30 Oct 2012 | 10:07 AM ET

    *Storm forces two-thirds of U.S. East Coast refineries to shut. LONDON, Oct 30- Crude oil was little changed on Tuesday as investors awaited news of the damage by Hurricane Sandy, which lashed the U.S. East Coast, closing refineries and denting demand. Brent crude for December fell 17 cents to $109.27 a barrel by 0934 GMT.

  • Reuters World News Highlights at 1000 GMT, Oct 30 Tuesday, 30 Oct 2012 | 10:00 AM ET

    NEW YORK/ REHOBOTH BEACH- Sandy, one of the biggest storms to hit the United States, pounded the east coast on Tuesday, flooding large parts of New York City, bringing transport to a halt and interrupting the presidential campaign.

  • *Q3 net loss of 2.172 bln Sfr vs Reuters poll 457 mln Sfr. Zurich- based UBS will focus on its private bank and a smaller investment bank, ditching much of the trading business that made most of its $50 billion in losses since the financial crisis began, including $2.3 billion by trader Kweku Adoboli, now on trial defending charges of fraud and false accounting.

  • European shares rally; UBS hits 15-month high Tuesday, 30 Oct 2012 | 9:51 AM ET

    Volumes were expected to remain thin, however, with the effects of a massive storm hitting the eastern United States set to keep Wall Street closed for a second day. Wall Street will remain shut on Tuesday, with investor attention turning to whether markets would be able to resume activity on the month's final trading day on Wednesday.

  • FOREX-Yen rallies broadly as BOJ easing underwhelms Tuesday, 30 Oct 2012 | 9:49 AM ET

    LONDON, Oct 30- The yen rose broadly on Tuesday after monetary easing steps from the Bank of Japan's disappointed some market players who had positioned for a more aggressive increase in asset purchases. That has seen the yen unwind a lot of the softer tone we saw going into this meeting,'' said Jane Foley, senior currency strategist at Rabobank.

  • UPDATE 1-Telefonica Germany shares rise after IPO Tuesday, 30 Oct 2012 | 9:42 AM ET

    FRANKFURT/ MADRID, Oct 30- Shares in Telefonica's O2-branded German unit started trading r oughly 3 percent above th eir initial public offering price on Tuesday in Europe's largest new listing in more than a year.

  • MUMBAI, Oct 30- India's central bank left interest rates on hold on Tuesday but cut the cash reserve ratio for banks, defying pressure from the government to lower rates for the first time since April but also indicating it may ease policy in early 2013..

  • --Acorda Therapeutics Inc: rescheduled third-quarter financial results and conference call to Oct. 31 from Oct. 30. --Advent Software Inc reschedules third-quarter results and conference call to Oct. 30. --AGCO Corp rescheduled third-quarter results to Oct 31, 8 am Eastern Time from Oct. 30.

  • TOKYO, Oct 30- The Bank of Japan boosted its monetary stimulus for the second month in a row on Tuesday in response to intense political pressure for action and mounting evidence that the world's third-largest economy was on the cusp of recession.

  • LONDON, Oct 30- European shares and the euro rose on Tuesday as the initial damage inflicted by a powerful storm on the U.S. east coast looked to have been less severe than many had expected. London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX were all in positive territory having finished Monday on the back foot.

  • EURO GOVT-Italian bonds stable before debt auction Tuesday, 30 Oct 2012 | 9:16 AM ET

    *Italy plans to sell 5- 7 billion euros of bonds. That swung investors' attention back to Italy as uncertainty over the timing of a Spanish aid request lingered.

  • *Q3 net profit 62.44 bln yuan vs 59.9 bln yuan view. HONG KONG, Oct 30- Industrial and Commercial Bank of China Ltd, the world's biggest bank, reported a 15 percent rise in quarterly net profit, beating estimates, as interest margins widened due to increased demand for credit.

  • UPDATE 1-Spain stays in recession as inflation bites Tuesday, 30 Oct 2012 | 9:10 AM ET

    MADRID, Oct 30- Spain's recession extended into the third quarter while inflation stayed high in October, data showed, indicating a government austerity programme to cut the public deficit is also pushing up living costs.

  • *Bayer offers $34 per share vs $23.19 Friday closing price. FRANKFURT, Oct 30- Germany's Bayer is to buy U.S. vitamins maker Schiff Nutrition International for an agreed $1.2 billion as it seeks stable sources of growth to complement its more volatile prescription drugs business.

  • *One miner injured; workers want wage rises to match Lonmin. RUSTENBURG, South Africa, Oct 30- South African police fired rubber bullets and teargas on Tuesday at striking Amplats miners who were protesting against a union-brokered deal to end a six-week wildcat walkout at the top platinum producer.

  • *StanChart shares down 0.6 pct in London. HONG KONG/ LONDON, Oct 30- Standard Chartered said it was aiming for a wider year-end settlement with U.S. authorities investigating its Iran- linked transactions.

  • DUBAI, Oct 30- Dana Gas, the United Arab Emirates' largest listed natural gas firm, will not repay a $920 million convertible Islamic bond when it matures on Wednesday and has reached a standstill agreement with bondholders, three sources familiar with the matter told Reuters.