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Latest Business News Wires - Business Headlines


  • News Summary: Sanofi profit slumps in 3rd quarter Thursday, 25 Oct 2012 | 2:29 PM ET

    SHRINKING PROFIT: Sanofi saw its earnings slump in the third quarter as generic competitors ate into profits of its Eloxatin cancer treatment. DETAILS: Sanofi earned 1.6 billion for the July-September quarter, down 20 percent from 2 billion a year earlier.

  • SEC sues former J.Crew executive for insider trading Thursday, 25 Oct 2012 | 2:29 PM ET

    LoBue again used sales and expense information to purchase 11,680 shares ahead of J.Crew' s August 2009 earnings announcement, the SEC said. Through the trades, LoBue received around $60,000 in illicit profits, the SEC said. The SEC said LoBue's employment at J.Crew was terminated in February 2010.

  • News Summary: Strikes dent Hyundai 3Q profit Thursday, 25 Oct 2012 | 2:28 PM ET

    WINDING ROAD: Hyundai's took a hit to its third-quarter profit after strikes in South Korea limited vehicle production, but its stock jumped after the carmaker said annual output would exceed forecasts.

  • *Grain inventories at major exporters seen at 17- year low. LONDON, Oct 25- The International Grains Council on Thursday cut its forecast for global maize and wheat crops in 2012/ 13, further tightening supplies with grain stocks at the end of the season seen sinking to a five-year low.

  • Chief Financial Officer Clay Williams characterized it as North America playing defense, while the rest of the world played offense. He said the company was building out facilities in Brazil, while selling more well stimulation equipment into the Middle East, China and Russia.

  • `` Spain is my favourite because we've got all sorts of hedges,'' said Elke Speidel-Walz, chief investment strategist for Germany at Deutsche Bank Private Wealth Management. ``This means the risk return is best in Spain.''.

  • Jarden shares fall as revenue, profit slip Thursday, 25 Oct 2012 | 2:26 PM ET

    RYE, N.Y.-- Jarden Corp., the company behind a smorgasbord of household products like Mr. On a per-share basis, earnings were $1 per share, down from $1.03, Jarden said late Wednesday.

  • *3rd- quarter EPS $1.91 excluding items vs Street view $1.60. Excluding one-time items, the company earned $1.91 per share, topping analysts' average expectations by 31 cents, according to Thomson Reuters I/B/E/S.

  • *Mead Johnson shares sink after 3Q profit slips Thursday, 25 Oct 2012 | 2:25 PM ET
  • KIEV, Oct 25- Ukrainians rushed to buy dollars on Thursday, driving the hryvnia currency to a seven-week low on speculation that officials will allow a sharp depreciation after elections on Sunday. Later on Thursday, Ukraine's central bank offered to sell dollars at 8.05 hryvnias per dollar.

  • NY Times publisher backs new CEO amid BBC scandal Thursday, 25 Oct 2012 | 2:24 PM ET

    NEW YORK-- New York Times chairman and publisher Arthur Sulzberger Jr. on Thursday reiterated the company's support for its incoming chief executive, who has been under scrutiny in England over the BBC's decision to cancel a news story about one of its hosts being accused of sexually abusing children.

  • Ford sees total $3 European bln loss in 2012, 2013 Thursday, 25 Oct 2012 | 2:23 PM ET

    DETROIT, Oct 25- Ford Motor Co expects to lose a combined $3 billion in Europe in 2012 and 2013, executives said during a conference call on Thursday, adding that European car sales may only rise to 15 million annually by mid-decade.

  • FOREX-Yen slides broadly on BOJ easing bets, euro flat Thursday, 25 Oct 2012 | 2:23 PM ET

    NEW YORK, Oct 25- The dollar rallied to a four-month high against the yen on Thursday as a n array of U.S. data and ex pectations the Bank of Japan will ease monetary policy next week fav ored the greenback.

  • *McKesson to acquire PSS World Medical. *Procter& Gamble climbs after results. NEW YORK, Oct 25- U.S. stocks advanced on Thursday, putting the S&P 500 on track to rebound from its worst five-day performance in five months, on optimism the economies of both the U.S. and China may be recovering.

  • Smart Spending: Strategies for finding hot toys Thursday, 25 Oct 2012 | 2:20 PM ET

    But never fear: Here are some strategies to make sure that whatever toy your child wants, from the latest Monster High doll or robotic Furby pet to the child-size LeapPad Explorer, is under the tree _ without having to pay exorbitantly on eBay or elsewhere.

  • STRASBOURG, France, Oct 25- The European Parliament rejected Luxembourg banker Yves Mersch's nomination to the board of the European Central Bank on Thursday because of his gender, raising the stakes in a showdown with EU governments over power and women's rights.

  • News Summary: Ford to shut more plants in Europe Thursday, 25 Oct 2012 | 2:15 PM ET

    All automakers are struggling in Europe with too many plants, high labor costs and an economic crisis that has sapped demand for cars. HUMAN SCALE: The closure of the plant in Southampton, Britain, will cost 1,500 jobs. On Thursday, Ford said it was closing a massive factory in east Belgium at a cost of 6,200 jobs.

  • Networks, AP changing exit poll strategy Thursday, 25 Oct 2012 | 2:14 PM ET

    NEW YORK-- A growth in early voting and tough economy for the media are forcing changes to the exit poll system that television networks and The Associated Press depend upon to deliver the story on Election Night, all with the pressure-filled backdrop of a tight presidential race.

  • Celgene 3Q profit climbs 14 pct on higher sales Thursday, 25 Oct 2012 | 2:13 PM ET

    SUMMIT, N.J.-- Biotech drugmaker Celgene Corp. on Thursday reported a 13.7 percent jump in third-quarter profit as higher sales of its key drug offset declines for a couple other medicines and increased spending on research and marketing.

  • UPDATE 2-Simon Property FFO rises, tops expectations Thursday, 25 Oct 2012 | 2:10 PM ET

    *Q3 FF0 $1.99/ share vs Street view $1.92. Oct 25- Simon Property Group Inc reported a 19 percent increase in a key earnings measure Thursday on higher rents and sales at its malls and outlet centers, easily beating estimates, and the real estate investment trust raised its outlook for the year.