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Latest Business News Wires - Business Headlines


  • Hanesbrands' share fall on conservative outlook Wednesday, 24 Oct 2012 | 4:31 PM ET

    WINSTON-SALEM, N.C.-- Shares of clothing maker Hanesbrands Inc. fell Wednesday as investors digested a conservative profit outlook that was below what analysts had expected. During a conference call with investors late Tuesday, Rich Noll CEO said that Penney was a "big drag" on sales, particularly in bras and other underwear.

  • Low interest in Mamtek leftovers at Mo. auction Wednesday, 24 Oct 2012 | 4:30 PM ET

    MOBERLY, Mo.-- An auction of assets left over from Moberly's failed artificial sweetener factory drew curious onlookers and piecemeal bidders Wednesday but no large company swooping in to replace a project once cast as the small city's economic salvation.

  • Bettman says full season 'not going to be reality' Wednesday, 24 Oct 2012 | 4:28 PM ET

    Speaking at a news conference Wednesday announcing the New York Islanders' move from Nassau Coliseum to Brooklyn's Barclays Center in 2015, Bettman seemed resigned to looking at a shortened season with the NHL and the players' association still at odds after months of negotiations.

  • *Germany sells 3.3 bln euros of 10- yr bonds, demand good. Businesses in the region suffered their worst month in October since the bloc emerged from its last recession more than three years ago, surveys showed, while Germany's Ifo economic research institute said the country's business climate worsened in October.

  • Boeing shares up 1 pct, General Dynamics up 3.7 pct. Lockheed Martin Corp, Boeing Co's defense division and Northrop Grumman Corp reported higher earnings and strong margins despite weakening sales, driving their shares higher on the New York Stock Exchange.

  • *PolyOne to buy plastics maker Spartech Corp. Wednesday, 24 Oct 2012 | 4:25 PM ET
  • *Carney says new language means rate hike less imminent. *Third quarter growth forecast cut to 1.0 percent from 2.0. OTTAWA, Oct 24- The Bank of Canada is likely to raise interest rates later than it once thought, Governor Mark Carney said on Wednesday, citing weak third-quarter growth and more slack in the economy.

  • News Summary: Meningitis pharmacy investigated Wednesday, 24 Oct 2012 | 4:23 PM ET

    DISTRESSING DISCOVERY: An investigation into a Massachusetts pharmacy at the center of a deadly meningitis outbreak has found conditions including leaky boilers, dirty floor mats and drugs shipped out without sterility tests.

  • US sued Bank of America over alleged mortgage fraud Wednesday, 24 Oct 2012 | 4:23 PM ET

    Oct 24- The United States on Wednesday filed a civil mortgage fraud lawsuit against Bank of America Corp, accusing it of deliberately generating and then selling thousands of toxic home loans that later defaulted to Fannie Mae and Freddie Mac.

  • WRAPUP 1-European car makers suffer day of reckoning Wednesday, 24 Oct 2012 | 4:20 PM ET

    PARIS/ GENK, Belgium, Oct 24- Car makers suffered a day of reckoning on Thursday when Ford announced Europe's third plant closure this year, Peugeot accepted state aid and even Volkswagen reported a big drop in profits.

  • UPDATE 2-PolyOne Corp to buy Spartech for $246 mln Wednesday, 24 Oct 2012 | 4:17 PM ET

    Oct 24- Chemical company PolyOne Corp struck a $246 million deal to buy plastic products maker Spartech Corp, a maker of bulletproof barriers and aircraft cabin windows, to enter new markets. PolyOne stock rose as much as 9 percent to an all-time high of $18.32 on the New York Stock Exchange while Spartech shares lept 65 percent to a 20- month high of $8.48.

  • Ex-Goldman exec given 2 years for inside trades Wednesday, 24 Oct 2012 | 4:16 PM ET

    NEW YORK-- A former Goldman Sachs and Procter& Gamble Co. board member was sentenced to two years in prison Wednesday, culminating a spectacular fall from grace for a man whose good deeds worldwide brought him leniency after he was convicted of feeding inside information about board dealings to a billionaire hedge fund owner who was his friend.

  • Stocks close down again, giving up early gains Wednesday, 24 Oct 2012 | 4:12 PM ET

    The market began to fade after 2 p.m., when the Federal Reserve repeated its assessment that the U.S. economy still needed help to increase growth and lower unemployment. Netflix plunged 12 percent after slashing its target for full-year subscriber growth. About four stocks fell for every three that rose on the New York Stock Exchange.

  • Audit: US oversight of charter school funds lax Wednesday, 24 Oct 2012 | 4:11 PM ET

    LOS ANGELES-- An audit of the U.S. Department of Education's division overseeing hundreds of millions of dollars in charter school funding has criticized the office for failing to properly monitor how states spend the money.

  • Oct 24- Thermo Fisher Scientific raised its full-year forecast for the second time this year as the world's largest laboratory equipment maker benefited from its presence in Asia, even as the weak U.S. and European economies dragged on its competitors.

  • Earnings Preview: Arch 3Q profits seen lower Wednesday, 24 Oct 2012 | 4:10 PM ET

    ST. LOUIS-- Arch Coal Inc., one of the world's biggest coal producers, is scheduled to report earnings for the third quarter before the market opens on Friday. Arch's latest earnings may reflect its June announcement that it was laying off about 750 workers in the Kentucky, Virginia and West Virginia coalfields.

  • NuVasive rises as 3Q revenue tops estimates Wednesday, 24 Oct 2012 | 4:10 PM ET

    SAN DIEGO-- Medical device maker NuVasive Inc. said Wednesday that it turned a profit in the third quarter, and its shares bounced back as its earnings topped estimates. NuVasive said its revenue grew 12 percent to $148.4 million. NuVasive reported net income of $2.4 million, or 5 cents per share.

  • Xoma prices stock offering at $3, a 7 pct discount Wednesday, 24 Oct 2012 | 4:05 PM ET

    BERKELEY, Calif.-- Shares of Xoma Corp. slid Wednesday after the biotechnology company said that it will sell 13.3 million shares of its common stock at $3 per share, a 7 percent discount to its closing price of $3.22 on Tuesday. Xoma anticipates proceeds of roughly $36.9 million from the offering.

  • JERUSALEM, Oct 24- Mobileye, which makes technology to help drivers, expects sales to more than double every year for the next few years as car manufacturers look to offer more safety features and self-drive cars gain in popularity.

  • Judge: Venezuela notes lawsuit should stay in Ohio Wednesday, 24 Oct 2012 | 4:03 PM ET

    COLUMBUS, Ohio-- Ohio is the appropriate forum for an investors' lawsuit seeking to collect $100 million on three-decade-old Venezuelan promissory notes, despite concerns over document translation and witness transportation, a federal judge ruled.