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Latest Business News Wires - Business Headlines


  • US economy likely grew slowly last quarter Friday, 26 Oct 2012 | 12:02 AM ET

    WASHINGTON-- The government's snapshot Friday of the U.S. economy's growth will be its last before Americans choose a president in 11 days. And it would give Mitt Romney's team evidence to argue that the economy is growing at an unacceptably subpar pace. "We are stuck in this half-speed growth mode," said David Wyss, an economics professor at Brown University.

  • *BOJ seen cutting econ forecasts, easing on Oct. 30. TOKYO, Oct 26- Japan's core consumer prices fell for the fifth straight month in the year to September, showing the economy remained mired in deflation and keeping the pressure on the central bank to do more to achieve its inflation target.

  • *Shares up 24 pct YTD; Seoul mkt up 5 pct; Apple up 52 pct. Samsung, reporting its results just hours after main rival Apple Inc, did not detail its third-quarter smartphone shipments, though these are estimated to have soared to 58 million. Apple said it shipped 26.9 million iPhones in July-September It launched its latest iPhone 5 on Sept. 21.

  • UPDATE 1-South Korea's Q3 growth dips, recovery seen slow Thursday, 25 Oct 2012 | 11:53 PM ET

    *Capital investment falls on weak Europe, China demand. SEOUL, Oct 26- South Korea's economic growth almost halted in the third quarter as hesitant and indebted consumers were unable to make up for steep spending cuts by companies on declining exports to Europe and China.

  • *Dean Foods' Morningstar draws strategic, PE interest. NEW YORK, Oct 25- Dean Foods Co's Morningstar business has attracted takeover interest from Michael Foods and Mexican dairy company Grupo Lala, people familiar with the matter said, in a deal that could be valued in the $1 billion to $1.5 billion range.

  • NEW YORK, Oct 25- The so-called fiscal cliff of automatic spending cuts and tax rises set to occur on Jan. 1 if Congress fails to act before then will be the most important issue facing the next U.S. president after the election, BlackRock Chief Executive Laurence Fink said on Thursday, citing a ``very strong risk'' of another U.S. ratings downgrade.

  • Dirty money cost China $3.8 trillion 2000-2011 -report Thursday, 25 Oct 2012 | 11:46 PM ET

    WASHINGTON, Oct 25- China has lost $3.79 trillion over the past decade in money smuggled out of the country, a massive amount that could weaken its economy and create instability, according to a new report.

  • Samsung, reporting its results just hours after main rival Apple Inc, did not detail its third-quarter smartphone shipments, though these are estimated to have soared to 58 million. Apple said it shipped 26.9 million iPhones in July-September It launched its latest iPhone 5 on Sept. 21.

  • New Zealand dairy giant launches stock market fund Thursday, 25 Oct 2012 | 11:45 PM ET

    WELLINGTON, New Zealand-- New Zealand dairy giant Fonterra is launching a fund on the New Zealand and Australian stock markets worth at least 500 million New Zealand dollars. Fonterra chairman Henry van der Heyden says the listing will provide the cooperative with capital security while preserving 100 percent farmer control and ownership.

  • UPDATE 4-Amazon reports first quarterly net loss in years Thursday, 25 Oct 2012 | 11:39 PM ET

    *Amazon spending heavily on warehouses, Kindle technology, cloud business. SAN FRANCISCO, Oct 25- Amazon.com Inc reported its first quarterly net loss in more than five years on Thursday as the world's largest Internet retailer spent heavily and suffered from an economic slowdown in Europe.

  • Japan Sept core CPI falls 0.1 pct year/year Thursday, 25 Oct 2012 | 11:35 PM ET

    TOKYO, Oct 26- Japan's core consumer prices fell 0.1 percent in the year to September, down for the fifth straight month, government data showed on Friday, in a sign the economy has a long way to go before achieving the Bank of Japan's inflation target of 1 percent.

  • Nikkei seen advancing as easing hopes sustain gains Thursday, 25 Oct 2012 | 11:34 PM ET

    TOKYO, Oct 26- Japan's Nikkei share average is expected to rise on Friday, supported by expectations of significant easing by the Bank of Japan, while investors appear to have priced in cuts to profit forecasts in the current earnings season.

  • UPDATE 1-California's GMO labeling proposal in tight race Thursday, 25 Oct 2012 | 11:34 PM ET

    LOS ANGELES/ KANSAS CITY, Oct 25- Heavy advertising spending by Monsanto Co and others opposed to a California ballot proposal to require labels on grocery products containing genetically modified organisms is paying off, according to a new poll that shows the measure has slipped into a virtual tie.

  • UPDATE 4-Hurricane Sandy menaces U.S. after slamming Cuba Thursday, 25 Oct 2012 | 11:33 PM ET

    HAVANA, Oct 25- Hurricane Sandy swelled into a major threat to much of the U.S. East Coast on Thursday after lashing Cuba with heavy rains and tree-toppling winds and swirling through the Bahamas, U.S. forecasters said.

  • Kia Motors misses forecast in 3Q profit Thursday, 25 Oct 2012 | 11:31 PM ET

    SEOUL, South Korea-- Kia Motors Corp. reported its third-quarter profit came in below expectations, impacted by a labor strike and weak demand at home. South Korea's second-biggest carmaker said Friday its July-September quarter's net income rose 28 percent over a year earlier to 829 billion won.

  • Asia stocks fall on weaker US housing data Thursday, 25 Oct 2012 | 11:28 PM ET

    BANGKOK-- Asian stock markets fell Friday after the latest data on U.S. housing dimmed hopes of improvement in an industry that is crucial to recovery in the world's No. 1 economy.

  • UPDATE 3-Gardner Denver confirms exploring potential sale Thursday, 25 Oct 2012 | 11:21 PM ET

    *Gardner Denver shares close up 20.5 percent. NEW YORK, Oct 25- Industrial machinery maker Gardner Denver Inc said it is exploring strategic alternatives including a potential sale or merger of the company, confirming a Reuters report earlier on Thursday.

  • *Chile has lowest borrowing cost among emerging nations, minister says. Oct 25- Chile placed $1.5 billion in dollar-denominated bonds on international markets at historic yields, giving the investor-darling the lowest borrowing cost of any emerging country, Finance Minister Felipe Larrain said on Thursday.

  • TOKYO, Oct 26- Japan Post Holdings Co has drafted a plan to go public in late 2015 and the government expects to raise up to 7 trillion yen from the sale of two-thirds of its shares to finance reconstruction from the March 2011 disaster, the Nikkei newspaper reported.

  • The company, whose biggest shareholder is Sprint Nextel, said Softbank Corp's plan to pay $20 billion for a 70 percent stake in Sprint is good news for Clearwire, which also counts Sprint as its biggest customer. Many analysts expect that Sprint will use the Softbank investment to buy the remainder of Clearwire or provide it with additional funding.