Latest Business News Wires - Business Headlines


  • US senators call on FDA to act on energy drinks Friday, 26 Oct 2012 | 5:08 PM ET

    The FDA noted that the allegations, which date back to 2004, don't necessarily prove the drinks are linked to the deaths. The FDA caps the amount of caffeine in soda to 0.02 percent, but there is no such limit for energy drinks. Durbin and Blumenthal asked the FDA to look into the interactions between caffeine and the additives that are often found in energy drinks.

  • Endeavour gets new exploration areas Friday, 26 Oct 2012 | 5:08 PM ET

    HOUSTON-- Oil and gas company Endeavour International Corp. said Friday it was given 7 new licenses to explore areas in the U.K. North Sea. The licenses were awarded by the Department of Energy and Climate Change. Houston- based Endeavour focuses on acquiring, exploring and developing energy reserves in the North Sea and U.S.

  • News Summary: Commodities continue weeklong slide Friday, 26 Oct 2012 | 5:05 PM ET

    MORE DECLINES: Commodities prices were broadly lower on the latest weak signals for the U.S. economy: more poor earnings reports from major companies like Goodyear, and only tepid growth in GDP in the third quarter. METALS SLIDE: Gold fell $1.10 to settle at $1,711.90 an ounce, silver fell 4.20 cents to $32.036 an ounce and palladium fell $9.10 to $595.40 an ounce.

  • Goodyear, DeVry, Deckers are market movers Friday, 26 Oct 2012 | 5:04 PM ET

    NEW YORK-- Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:. Arch Coal Inc., up 78 cents at $8.09. Goodyear Tire& Rubber Co., down $1.28 at $11.02.

  • Halftime report: Is fear of a weak 3Q overblown? Friday, 26 Oct 2012 | 4:59 PM ET

    WASHINGTON-- It's halftime for the season of corporate earnings reports, and investors are in desperate need of a locker-room pep talk.

  • *Wall St hit by earnings; Apple shares off more than 2 pct. 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.

  • BP spill trial delayed until February 2013 Friday, 26 Oct 2012 | 4:57 PM ET

    HOUSTON, Oct 26- A federal judge on Friday delayed until February 2013 the start of a massive trial to determine liability from the 2010 Deepwater Horizon oil spill, citing tourist events that will keep New Orleans' hotels booked.

  • Corps issues permit for Alaska's Point Thomson Friday, 26 Oct 2012 | 4:55 PM ET

    ANCHORAGE, Alaska-- Alaska officials on Friday hailed a U.S. Army Corps of Engineers permit decision that will open up drilling at the Point Thomson petroleum field, creating hundreds of jobs and providing key infrastructure that could advance prospects for a large-scale natural gas pipeline.

  • *Announcements made two weeks before Communist Party congress. BEIJING, Oct 26- China moved quickly on Friday to announce it had formally begun a criminal probe into disgraced former senior politician Bo Xilai, hours after expelling him from the largely rubber stamp parliament and so removing his immunity from prosecution.

  • Oct 26- Merck& Co Inc posted a higher-than-expected quarterly profit as one-time tax gains helped offset plunging sales of its former flagship product, Singulair, an asthma drug that began facing cheaper generics in August.

  • WVU, Paradigm on $70M reconstruction of Sunnyside Friday, 26 Oct 2012 | 4:51 PM ET

    MORGANTOWN, W.Va.-- West Virginia University announced Friday it's partnering with Paradigm Development Group LLC to build a $70 million residential and retail complex called University Place, a project school officials say will transform a blighted section of Morgantown and create much-needed quality housing.

  • CSC gets $54M order to conduct investigations Friday, 26 Oct 2012 | 4:49 PM ET

    FALLS CHURCH, Va.-- Computer Sciences Corp., which provides information technology services to a wide range of industries, said Friday it won a $54 million task order to conduct background investigations for the U.S. The order has a one-year base period and four option years, for a total value of $54 million. Shares fell 15 cents to close at $30.59.

  • *Hurricane Sandy threatens U.S. after slamming Cuba. NEW YORK, Oct 26- Brent oil pushed higher on Friday in choppy trading, recovering from an early decline as supportive U.S. economic data coupled with North Sea and Nigerian production problems yielded some relief from concerns about Spain and tepid global demand.

  • News Summary: Stocks mostly lower on weak earnings Friday, 26 Oct 2012 | 4:41 PM ET

    MIXED BAG: The government said the economy grew in the third quarter, but not fast enough to reduce unemployment. Earnings from many companies have disappointed, although not as much as some investors had feared. WHAT'S NEXT: Ford and Pfizer report results Tuesday, with General Motors on Wednesday, ExxonMobil on Thursday and Chevron on Friday.

  • How the major stock indexes fared on Friday Friday, 26 Oct 2012 | 4:39 PM ET

    Stocks finished mixed on Friday after investors gave a lukewarm reception to economic data and third-quarter corporate results that gave them little to get excited about. The Standard& Poor's 500 index fell slightly, and more stocks declined than advanced on the New York Stock Exchange. The S&P 500 was down 21.25 points, or 1.5 percent.

  • Owens-Illinois investigates possible bribery Friday, 26 Oct 2012 | 4:37 PM ET

    Owens-Illinois Inc. is investigating potential bribery at its operations overseas, according to a document filed with the U.S. Securities and Exchange Commission on Friday. Owens-Illinois said it disclosed the probe to the U.S. Department of Justice and the SEC this month.

  • US STOCKS-Wall St falls on sour Apple results Friday, 26 Oct 2012 | 4:35 PM ET

    *Dow off 0.3 pct, S&P 500 off 0.5 pct, Nasdaq off 0.6 pct. NEW YORK, Oct 26- U.S. stocks fell on Friday, as investors fretted about Apple's weaker-than-expected results- the latest in a string of lackluster earnings- and signs that economic growth is still not strong enough to make a significant reduction in unemployment.

  • Md. nixes utilities' billing 24 hours after outage Friday, 26 Oct 2012 | 4:34 PM ET

    ANNAPOLIS, Md.-- Maryland utilities will no longer be able to charge customers for lost sales during the first 24 hours of a major power outage. The Maryland Public Service Commission announced Friday that the policy would end immediately.

  • Florida's workers' compensation rate going up Friday, 26 Oct 2012 | 4:32 PM ET

    TALLAHASSEE, Fla.-- Workers' compensation insurance rates paid by Florida's employers are going up 6.1 percent on Jan. 1. McCarty's order is officially a denial of the filing submitted by the National Council on Compensation Insurance due to technical issues.

  • Massive power outages expected in DC area Friday, 26 Oct 2012 | 4:31 PM ET

    WASHINGTON-- A storm of heavy rain and wind may knock out electricity to hundreds of thousands of customers in the Washington D.C. region. Officials at Pepco Holdings Inc., the utility that serves D.C. and parts of Maryland, say customers may be without power for days because sustained winds may prevent crews from doing immediate repair work.