Latest Business News Wires - Business Headlines


  • Still on the rebound, Detroit hosts World Series Friday, 26 Oct 2012 | 3:24 AM ET

    DETROIT-- The Detroit Tigers are in the World Series for the second time since 2006. But much of the city seems seasons away from its own grand slam. Whole Foods is building a store north of where the Tigers play, and wealthy optimists are snapping up vacant downtown office buildings and filling them with workers.

  • *Gold seen trading in $1,700- $1,740 range next week. SINGAPORE, Oct 26- Gold was a tad higher on Friday but heading for its third week of decline after shares inched lower in Asia, the U.S. dollar firmed, and fears about the health of the global economy lingered.

  • Amid bumper crop, families could get PB&J break Friday, 26 Oct 2012 | 3:12 AM ET

    "After last year's small crop, we saw peanut butter prices on average rise 30 percent or more," said Patrick Archer, president of the American Peanut Council. " A 10 percent decrease on a $3 jar of peanut butter, for example, would translate to a savings of 30 cents.

  • Ericsson profit plunge as operators turn cautious Friday, 26 Oct 2012 | 3:09 AM ET

    STOCKHOLM-- Swedish wireless equipment maker LM Ericsson has posted a 43 percent plunge in third-quarter net profits as operators have grown more cautious about the economic outlook.

  • *Shares down 2 pct in Seoul. SEOUL, Oct 26- South Korean technology powerhouse Samsung Electronics Co posted a fourth straight record quarterly profit- of $7.4 billion- with strong sales of its Galaxy range of phones masking sharply lower sales of memory chips.

  • Survey: German consumers increasingly confident Friday, 26 Oct 2012 | 3:04 AM ET

    Germany's economy, which was worth a little under 2.6 trillion last year, in comparison with the U.S.' s 12 trillion, has seen two consecutive years of robust growth. But the Economy Ministry last week cut its growth forecast for 2013 to 1 percent from 1.6 percent, though increased this year's outlook slightly from 0.7 percent to 0.8 percent.

  • Samsung sold 56.3 million smartphones in Q3 -report Friday, 26 Oct 2012 | 2:53 AM ET

    SEOUL, Oct 26- Samsung Electronics Co Ltd, the world's top phone handset maker, sold 56.3 million smartphones in the third quarter, widening its lead over rival Apple Inc, a report by research firm IDC showed.

  • Kia Motors 3Q profit misses forecasts after strike Friday, 26 Oct 2012 | 2:49 AM ET

    SEOUL, South Korea-- Kia Motors Corp. reported a lower-than-forecast profit for the third quarter Friday, as a strike and weak demand in South Korea cut into its earnings. South Korea's second-biggest carmaker said its July-September profit rose 28 percent over a year earlier to 829 billion won.

  • Cynthia Carroll to step down as Anglo-American CEO Friday, 26 Oct 2012 | 2:47 AM ET

    LONDON-- Cynthia Carroll says she will step down as chief executive of mining company Anglo American PLC as soon as her successor is chosen. In a statement released by the company on Friday, Carroll made no reference to reports that some investors had lost faith in her leadership and were pressing for her to go.

  • BEIJING, Oct 26- China's largely rubber stamp parliament has expelled disgraced former senior politician Bo Xilai, state news agency Xinhua said on Friday, paving the way for formal criminal charges to be laid against him.

  • *Apple full-year revenue jumps 45 pct to $156.5 bln. SAN FRANCISCO, Oct 25- Apple Inc delivered a second straight quarter of disappointing results and iPad sales fell well short of Wall Street's targets, marring its record of consistently blowing past investors' expectations.

  • BEIJING, Oct 26- China's largely rubber stamp parliament has expelled disgraced former senior politician Bo Xilai, state news agency Xinhua said on Friday, paving the way for formal criminal charges to be laid against him. Xinhua said the Standing Committee of the National People's Congress, China's parliament, ``announced the termination of Bo Xilai's post''.

  • Oil retreats below $86 per barrel Friday, 26 Oct 2012 | 1:50 AM ET

    Benchmark oil for December delivery was down 86 cents to $85.18 a barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose 32 cents to finish at $86.05 a barrel in New York on Thursday, the only day this week that oil prices have risen. Brent crude fell $1.04 cents to $107.45 a barrel in London.

  • TOKYO, Oct 26- Japan's cabinet approved a 422.6 billion yen economic stimulus package of subsidies and tax grants on Friday that will tap budget reserves to avoid selling new debt.

  • South Korea's growth hits 3-year low Friday, 26 Oct 2012 | 1:34 AM ET

    SEOUL, South Korea-- South Korea's economic growth slowed to a three-year low last quarter as private investment fell sharply, outweighing an increase in spending by the government and households. The Bank of Korea said Friday that Asia's fourth-largest economy expanded 1.6 percent over a year earlier in the three months ended Sept. 30.

  • Toyota global vehicle sales up 28 pct in Jan-Sept Friday, 26 Oct 2012 | 1:26 AM ET

    TOKYO-- Toyota sold 7.4 million vehicles around the world in the first nine months of the year, up 28 percent from a year earlier, but its strong growth faces headwinds from a sales plunge in China that could unseat it as the world's top automaker.

  • Study: Flood of money leaving China Friday, 26 Oct 2012 | 1:17 AM ET

    BEIJING-- Chinese investors evaded government controls to move more than $600 billion out of the country last year and the outflow is increasing, fueling economic and political risks as communist leaders prepare for a handover of power, a Washington- based monitoring group says.

  • Chubb 3Q results top analysts' expectations Friday, 26 Oct 2012 | 12:59 AM ET

    WARREN, N.J.-- Property and casualty insurer Chubb's third-quarter net income more than doubled, benefiting from fewer losses from catastrophes, rate increases and a strong underwriting performance. Chubb reported $17 million in catastrophe losses during the quarter.

  • Oppenheimer says 3Q revenue hurt by economic news Friday, 26 Oct 2012 | 12:59 AM ET

    NEW YORK-- Oppenheimer Holdings Inc. reported Friday that its third-quarter net income rose 10 percent, as lower expenses helped make the best of flat revenue. Albert Lowenthal, CEO of the New York investment firm, said that while the economy remains uncertain, the U.S. equity markets have continued to perform remarkably well.

  • BP spill trial delayed for Mardi Gras, Super Bowl Friday, 26 Oct 2012 | 12:52 AM ET

    NEW ORLEANS-- To avoid disruptions from the Super Bowl and Mardi Gras, a federal judge in New Orleans has postponed a trial for claims spawned by BP's massive 2010 oil spill in the Gulf of Mexico. U.S. District Court Judge Carl Barbier announced during a hearing Friday that he is moving the start of the trial from Jan. 14 to Feb. 25.