Latest Business News Wires - Business Headlines


  • TORONTO, Oct 29- Production at General Motors Co's Oshawa, Ontario, plant slowed to a crawl on Monday as a strike at Lear Corp cut off supplies of car seats used in vehicles assembled there, the Canadian Auto Workers union said.

  • LISBON, Oct 29- Portugal's ruling coalition parties said on Monday they will not run against each other in next year's local elections, sending a signal of unity before Wednesday's vote on a tax-heavy draft 2013 budget aimed at meeting the country's bailout goals.

  • UPDATE 1-Anadarko Petroleum has quarterly profit Monday, 29 Oct 2012 | 6:37 PM ET

    Oct 29- Anadarko Petroleum Corp on Monday reported a quarterly profit compared with a year-ago loss when the U.S. oil and gas company set aside funds to settle with BP Plc over its Gulf of Mexico oil spill.

  • Oct 29- Burger King Worldwide Inc turned in stronger-than-expected U.S. and Canadian restaurant sales for the latest quarter- when rival McDonald's Corp posted its worst quarterly restaurant sales growth in nine years.

  • LONDON, Oct 29- Ex-trader Kweku Adoboli told a court on Monday his bosses at UBS, including senior executive Carsten Kengeter, had been pushing him to take more risks when he took positions that eventually cost the Swiss bank $2.3 billion.

  • *Hurricane Sandy hits U.S. East Coast. NEW YORK, Oct 29- Gold edged lower on Monday on worries about the global economy, and trading was far below normal as a monster hurricane began battering the U.S. East Coast and exchanges were shut in New York. CME Group Inc. closed the COMEX/NYMEX trading floor while keeping its Globex electronic platform running.

  • UPDATE 2-Barclays Libor case to go to trial Monday, 29 Oct 2012 | 6:25 PM ET

    *Guardian Care Homes says wrongly sold interest rate swaps. LONDON, Oct 29- Barclays became the first bank to be ordered to stand trial in a British court over damages stemming from manipulation of the Libor interest rate after a High Court ruling on Monday.

  • *U.S. East Coast refineries shutting ahead of hurricane. *Hurricane expected to hit U.S. East Coast later Monday. NEW YORK, Oct 29- U.S. gasoline futures rallied even as Brent crude seesawed and U.S. crude retreated on Monday as over two-thirds of the East Coast refining sector shut down ahead of Hurricane Sandy.

  • UPDATE 4-Fixed income underpins Nomura results Monday, 29 Oct 2012 | 6:19 PM ET

    TOKYO, Oct 29- Nomura Holdings, Japan's largest investment bank, posted its fourth straight quarterly profit on Monday as an upswing in its fixed income operations helped it counter weak equity markets and the fallout from an insider trading probe.

  • SAN FRANCISCO, Oct 29- Microsoft Corp Chief Executive Steve Ballmer said on Monday sales of the company's new Windows 8 operating system, released to the public on Friday, were running at a higher rate than its last release, Windows 7..

  • NEW YORK/ LONDON, Oct 29- Arabica coffee futures trading on ICE turned higher after hitting a four-month low on Monday, on concern about possible flooding in areas where stocks are stored on the U.S. East Coast and as the market approached a key support level.

  • Oct 29- Hurricane Sandy, located about 110 miles southeast of Atlantic City, New Jersey, and about 175 miles south-southeast of New York City, is expected to make landfall early Monday evening, the U.S. National Hurricane Center said in its latest bulletin. ``Sandy is now moving toward the northwest near 28 miles per hour.

  • DETROIT, Oct 29- Chrysler Group LLC posted an 80 percent rise in quarterly net income on Monday on the back of stronger new vehicle sales, continuing the U.S. automaker's comeback from its 2009 bankruptcy. Chrysler, majority owned by Italy's Fiat SpA, also reaffirmed its outlook for the year.

  • Google unveils first 10-inch Nexus tablet Monday, 29 Oct 2012 | 6:03 PM ET

    SAN FRANCISCO, Oct 29- Google Inc unveiled a larger version of its Nexus-branded tablet computer on Monday, and updated its mobile gadget and online content offerings as competition with Apple Inc, Amazon.com Inc and Microsoft Corp heats up ahead of the holiday sales season.

  • Reuters World News Highlights 1800 GMT Oct 29 Monday, 29 Oct 2012 | 6:00 PM ET

    WASHINGTON- With one week left in the tight battle for the White House, it's all about the vital swing state of Ohio. MADRID/ ROME- Spanish Prime Minister Mariano Rajoy kept financial markets guessing on Monday over whether he will seek a credit line from the euro zone's rescue fund but said he would do so ``when I think it is in the interests of Spain''.

  • LONDON, Oct 29- The departure of Anglo American's chief executive has revived talk of radical ways for the miner to boost its flagging share price, even going as far as a break-up of the group.

  • *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, began battering the densely populated East Coast on Monday, shutting down transportation, forcing evacuations in flood-prone areas and interrupting the presidential campaign.

  • WASHINGTON, Oct 29- The U.S. Labor Department said on Monday it intends to release the October employment report as scheduled on Friday despite disruption from Hurricane Sandy, delivering the final update on the country's battered jobs market before the Nov. 6 election.

  • DETROIT, Oct 29- Ford Motor Co tumbled to nearly the bottom of an annual survey of vehicle reliability due to flaws in its touch-screen navigation and entertainment system, while Japanese rival Toyota Motor Corp swept the top three spots. Scion, Toyota's youth-oriented brand, kept its place as the most reliable brand.

  • BATS says to close its markets on Tuesday Monday, 29 Oct 2012 | 5:36 PM ET

    NEW YORK, Oct 29- BAT Global Markets, the No. 3 U.S. stock exchange, said on Monday its U.S. markets will be closed on Tuesday due to Hurricane Sandy, following a coordinated decision made by regulators and industry executives.