NEW YORK— GNC Holdings Inc. said Monday that it is conducting a strategic review that includes considering a potential sale of the health and nutrition products retailer. Last week, the Pittsburgh- based company reported disappointing 19.7 percent drop in first-quarter profit to $50.8 million on a 2 percent drop in revenue to $668 million and higher costs. » Read More
NEW YORK, Oct 31- Corporate treasurers laid in extra cash reserves as the devastating storm Sandy approached the U.S. East Coast, to ensure they could meet payrolls, buy inventory and contend with other short-term needs after the storm hit.
Companies such as environmental cleanup specialist Clean Harbors Inc, building supply chains Home Depot Inc and Lowe's Cos Inc, building products makers Owens Corning and Beacon Roofing Supply Inc, and generator manufacturer Generac Holdings Inc surged in early trading on the assumption that the recovery from Sandy will take years and boost sales.
*France objects to proposed farm subsidy cuts. BRUSSELS/ LONDON, Oct 31- British Prime Minister David Cameron came under pressure to act tough on the European Union budget and France threatened to use its veto, signalling a divisive start to bargaining over the 1 trillion euro long-term spending plan.
*U.S. money market rates elevated after storm. NEW YORK, Oct 31- Wall Street firms and U.S. banks scrambled to raise cash on Wednesday, as U.S. financial markets resumed normal trading after a devastating storm pummeled the U.S. East Coast and closed major markets for two days.
WASHINGTON, Oct 31- The U.S. The U.S. central bank has cut interest rates almost to zero and last month announced a third round of quantitative easing in which it would buy $40 billion a month in mortgages to further drive down borrowing costs and combat unemployment.
JERUSALEM/ WINNIPEG, Manitoba, Oct 31- Potash Corp, the world's No. 1 fertilizer producer, is ramping up efforts to buy Israel Chemicals Ltd so it can shore up its leverage with China and India, top consuming countries that are expected to drive much of the industry's growth.
*AT&T, T-Mobile USA sign wireless roaming agreement. *Sprint, AT&T say making progress in network improvements. Rivals AT&T Inc and T-Mobile USA said they agreed to open their networks to each other's customers in New York and New Jersey to help their coverage as a result of the storm.
*Warnaco shares rise nearly 39 percent. Oct 31- Clothing maker PVH Corp will unite Calvin Klein underwear, jeans and sportswear lines under one roof in a $2.8 billion deal to buy rival Warnaco Group Inc, the latest move in the consolidation of the apparel manufacturing industry.
MEXICO CITY, Oct 31- The International Monetary fund should soon renew a flexible credit line for Mexico worth $72 billion to guard against financial turmoil, Mexican central bank governor Agustin Carstens said on Wednesday.
OTTAWA, Oct 31- Bank of Canada Governor Mark Carney, on the heels of telling markets that an interest rate hike was not imminent, offered several reasons on Wednesday for why the central bank has kept rates exceptionally low.
NEW YORK, Oct 31- Most commodities eked out small gains on Wednesday as markets started to recover from mammoth storm Sandy, but the sector ended the month weaker, with its biggest decline in five months. Markets overall were still picking up after Sandy battered the U.S. East Coast on Monday.
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. Apple, which accounted for 62 percent of Cirrus Logic's total sales last year, said on Oct. 26 that its latest iPhone was heavily backlogged.
OTTAWA, Oct 31- Canada is likely to extend its review of the $15.1 billion bid by China's CNOOC Ltd for oil producer Nexen Inc beyond next week's deadline to allow more time for the government to formulate a broad framework on foreign investment, two sources close to the matter said on Wednesday.
WASHINGTON, Oct 31- The Obama administration said on Wednesday that the nation would hit the legal limit on its debt near the year's end, although it can tap emergency measures to stave off a default and keep the government running into early 2013..
*Phillips 66: Power back at Bayway refinery in Linden, New Jersey. NEW YORK, Oct 31- U.S. gasoline futures prices rose on Wednesday on concerns about East Coast supply shortages as the energy sector struggled to restore operations disrupted by massive storm Sandy.
*Plaintiffs filed lawsuits in Canada and Brazil this year. QUITO/ BUENOS AIRES, Oct 31- Ecuadorean plaintiffs plan to sue Chevron in Argentina and Colombia to collect a $19 billion award for pollution in the Amazon that has become one of the world's most high-profile environmental cases against an oil company.
TOKYO, Nov 1- Sony Corp is likely to say it returned to an operating profit for July-September after it sold a chemicals business, but investors still aren't sure a consumer electronics revamp will deliver the profit growth the group seeks.
*Archer Daniels Midland bid $2.8 bln for GrainCorp. MOSCOW, Oct 31- Russian investment and trading group Summa has asked the state development bank Vnesheconombank to fund a possible acquisition of Australia's GrainCorp, sources told Reuters on Wednesday.
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, as its chief executive said storm Sandy would not materially affect results this quarter.
NEW YORK, Oct 31- The first piece of post-storm advice after a major weather event like Sandy is always to call your insurance company. But what if your phone isn't working or you don't have Internet service? State Farm says as of Tuesday evening, it had logged 6,000 homeowners policy claims, and 900 car claims.