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Latest Business News Wires - Business Headlines

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  • TORONTO, Oct 31- Research In Motion said on Wednesday it has begun carrier testing of its new line of BlackBerry 10 devices, a crucial step ahead of next year's launch of the make-or-break line of smartphones.

  • Wall St ends flat, tech shares dip after Sandy shutdown Wednesday, 31 Oct 2012 | 8:42 PM ET

    *Dow off 0.1 pct, S&P 500 up 0.02 pct, Nasdaq off 0.4 pct. The Dow and the S&P 500 closed little changed while the Nasdaq Composite edged lower in a session with slightly less than average volume.

  • Oct 31- Visa Inc's fourth-quarter profit rose 89 percent, beating analyst estimates, and the world's largest credit and debit-card network authorized a new $1.5 billion share repurchase program.

  • NEW YORK, Oct 31- The euro drifted higher against the dollar and yen on Wednesday and posted its third straight month of gains, but uncertainty about the heavily indebted euro-zone economies could limit further strength.

  • *Case tested Google liability for sponsored links. Oct 31- Language-software maker Rosetta Stone Inc has agreed to drop its trademark infringement lawsuit against Google Inc over the search engine company's advertising practices.

  • WASHINGTON, Oct 31- Applications for U.S. home mortgages fell last week as demand for refinancing tumbled for the fourth week in a row, an industry group said on Wednesday, although other recent data has indicated the housing market is improving.

  • *Lumber futures rise the $10 daily limit. *Home Depot shares rise on expected rebuilding. Trade sources said the home-rebuilding process in the northeastern United States, which bore the brunt of Sandy, could stretch well into 2013, keeping demand for lumber robust.

  • *No crowds in lower Manhattan after storm. *Businesses try to cope without power. NEW YORK, Oct 31- The residents and business owners of lower Manhattan who have lost their electricity this week are beginning to adjust to life in an unfamiliar place: ``Blackout City.''.

  • Cirrus Logic's revenue soars on iPhone Wednesday, 31 Oct 2012 | 8:27 PM ET

    Oct 31- Audio chipmaker Cirrus Logic Inc, whose chips were used in Apple Inc's iPhone 5, reported a 91 percent jump in second-quarter sales and its forecast for current-quarter revenue crushed analysts' estimates. Net income rose to $35.4 million, or 51 cents per share, for the second quarter, from $11.2 million, or 17 cents per share, a year earlier.

  • *U.S. stocks trade flat as Wall Street reopens after 2- day closure. *Oil settles below $109 a barrel in face of potential supply rupture.

  • UPDATE 1-Allstate beats expectations, no mention of Sandy Wednesday, 31 Oct 2012 | 8:23 PM ET

    Oct 31- Home and auto insurer Allstate Corp reported a larger profit for the third quarter on a decline in disaster losses and improving margins, but made no mention of potential impacts from the devastating Hurricane Sandy.

  • WASHINGTON, Oct 31- It is no surprise that as the baby boom approaches its Social Security years, it is turning the decision about when to start collecting benefits from an automatic move into a major planning and research opportunity.

  • Visa authorizes $1.5 bln buyback, profit rises 89 percent Wednesday, 31 Oct 2012 | 8:21 PM ET

    Oct 31- Visa Inc's fourth-quarter profit rose 89 percent and the world's largest credit and debit-card network authorized a new $1.5 billion share repurchase program and raised its dividend by 50 percent. Profit rose to $1.7 billion, or $2.47 per Class A share, from $880 million, or $1.28 per Class A share, a year earlier.

  • NEW YORK, Oct 31- U.S. stocks closed little changed on Wednesday after a forced two-day closure due to super storm Sandy, as gains in utilities and financial shares offset declines in the healthcare and technology sectors. The S&P 500 edged up 0.22 point, or 0.02 percent, to finish unofficially at 1,412.16.

  • Oct 31- JPMorgan Chase& Co, Citigroup Inc and Wells Fargo& Co said on Wednesday they have reopened more than half of the branches that were closed as Hurricane Sandy battered the U.S. East Coast early this week. JPMorgan said it had reopened 587 Chase branches, about 55 percent of the total in the states of New York, New Jersey and Pennsylvania.

  • *New York, New Jersey each have more than 2 million out. At the storm's peak, 8.48 million customers were without power after Sandy came ashore with hurricane-force winds in New Jersey on Monday, according to Department of Energy data.

  • BOSTON, Oct 31- Some of Citigroup Inc's banking sites went down for about half an hour on Wednesday, making its online banking system temporarily inaccessible to customers, some of whom were housebound in the wake of giant storm Sandy.

  • *Stocks edge up as Wall Street reopens after two days. LONDON, Oct 31- Gold rose nearly 1 percent to its highest in a week on Wednesday as U.S. stock markets held firm after re-opening following Hurricane Sandy, but gold ended lower for the month, snapping four straight monthly gains.

  • *U.S. stocks near break-even as Wall Street reopens after 2- day closure. *Oil settles below $109 a barrel in face of potential supply rupture.

  • *EPA allows selling of ULSD with more than 15 ppm sulfur. NEW YORK, Oct 31- The U.S. Environmental Protection Agency on Wednesday granted New Jersey a temporary waiver on Ultra Low Sulfur Diesel requirements to help counter a shortfall in fuel supplies in parts of the state following Hurricane Sandy.