Latest Business News Wires - Business Headlines


  • Weak earnings reports weigh on the stock market Friday, 26 Oct 2012 | 10:25 AM ET

    Stock indexes are moving between small gains and losses on Wall Street Friday after Goodyear Tire& Rubber and other companies turned in weak earnings reports. Goodyear's stock sank 7 percent after the company said that a steep dropoff in sales in Europe delivered a blow to the company's earnings.

  • Chance of full NHL season lost as deadline passes Friday, 26 Oct 2012 | 10:21 AM ET

    Seven years ago that was a resounding `no' when a lockout forced the cancellation of the entire NHL season as owners held out for a salary cap. The NHL didn't make any formal announcement on the 40th day of the lockout. "No contact," NHL deputy commissioner Bill Daly told The Associated Press in an email Thursday.

  • Italy court convicts Berlusconi of tax evasion Friday, 26 Oct 2012 | 10:19 AM ET

    MILAN-- A court in Milan Friday convicted former Premier Silvio Berlusconi of tax fraud and sentenced the media mogul to four years in prison, his first prison sentence in years of criminal probes. In Italy, cases must pass two levels of appeal before the verdicts are final.

  • Legg Mason beats forecasts on revenue, profit Friday, 26 Oct 2012 | 10:15 AM ET

    BALTIMORE-- Legg Mason, the money management firm in the middle of a rocky CEO transition, on Friday reported results that beat Wall Street estimates even as revenue slipped. For the fiscal second quarter, which covered July through September, Legg Mason earned $80.8 million, or 60 cents per share, up 42 percent from $56.7 million, or 39 cents per share, a year ago.

  • Obama urges end to NHL lockout on 'Tonight Show' Friday, 26 Oct 2012 | 10:15 AM ET

    LOS ANGELES-- President Barack Obama is urging the end to another sports labor dispute. While taking questions from viewers on NBC's "Tonight Show" with Jay Leno on Wednesday, he was asked if he could pull any strings to end the NHL lockout. The president sent a tweet last month urging the NFL and its officials to end their labor dispute.

  • NC gives Duke Energy more time on secrecy claims Friday, 26 Oct 2012 | 10:12 AM ET

    RALEIGH, N.C.-- North Carolina utilities regulators are giving Duke Energy Corp. another week to produce internal emails and other documents involving its merger with Progress Energy which the company wrongly claimed it could keep secret.

  • NJ gears up as Hurricane Sandy remains a threat Friday, 26 Oct 2012 | 10:09 AM ET

    TRENTON, N.J.-- Emergency officials in New Jersey are warning residents to prepare for a scary pre- Halloween storm. Morris County's Office of Emergency Management has sent a letter to towns urging them to review their emergency plans, and to make sure there is adequate space in shelters if residents need to be evacuated.

  • ANALYSIS-Hamas brinkmanship masks quiet confidence Friday, 26 Oct 2012 | 10:09 AM ET

    *Arab Spring puts Hamas on broader Islamist path. *Hamas aims to lead Palestinian national movement.

  • Pa. utilities, road crews keep eye on Sandy Friday, 26 Oct 2012 | 10:04 AM ET

    HARRISBURG, Pa.-- Utilities, road crews, and emergency management personnel throughout Pennsylvania are girding for a potentially damaging storm early next week.

  • Md. officials and utilities prep for big storm Friday, 26 Oct 2012 | 10:03 AM ET

    HAGERSTOWN, Md.-- Maryland utility companies and emergency management officials say they're preparing for large-scale power outages, flooding and other damage from a storm that could arrive as early as Sunday. Exelon Corp.' s Baltimore Gas and Electric Co. said Thursday that it's planning for hundreds of thousands of potential outages.

  • Oshkosh rejects Icahn buyout offer Friday, 26 Oct 2012 | 10:02 AM ET

    OSHKOSH, Wis.-- Oshkosh rejected a buyout offer from billionaire investor Carl Icahn Friday. Shares in Oshkosh Corp. rose 18 cents to close at $29.92 Friday. Oshkosh also reported Friday that its fiscal fourth-quarter net income more than doubled to $78.9 million, or 86 cents per share, compared with $37.5 million, or 41 cents per share, a year earlier.

  • Expedia shares jump on 3Q results Friday, 26 Oct 2012 | 10:02 AM ET

    NEW YORK-- A boom in hotel bookings drove Expedia's third-quarter results past Wall Street's expectations, lifting shares Friday. THE SPARK: Expedia Inc.' s third-quarter net income fell 18 percent, the online travel agency said late Thursday, but its results excluding one-time costs and 17 percent revenue growth impressed investors.

  • Vt., still recovering from Irene, braces for Sandy Friday, 26 Oct 2012 | 10:00 AM ET

    MONTPELIER, Vt.-- Vermont Emergency Management officials are warning people across the state to prepare for the possible arrival of what is now Hurricane Sandy churning up the East Coast. The brunt of the storm is expected to hit the New York- New Jersey area Tuesday, but its effects could be felt through much of next week.

  • *Most promising cleantech IPO since Tesla Motors. As a result, SolarCity is being hailed as the alternative energy industry's most promising IPO candidate since electric car company Tesla Motors Inc's 2010 debut.

  • *Hours should be ``more restricted''- Bunge CEO. CHICAGO, Oct 26- CME Group's bid to cement its dominance in grain markets with longer trading hours may be backfiring, with some traders reducing activity and others including major merchant Bunge calling for a return to a shorter day.

  • *Copper arb window opened but China demand slow- traders. Benchmark copper on the London Metal Exchange slipped to $7,778 a tonne at 0928 GMT, down 0.5 percent from Thursday's close of $7,815 a tonne.

  • Alleged UBS rogue trader denies $2.3 billion fraud Friday, 26 Oct 2012 | 9:55 AM ET

    LONDON-- A former UBS trader accused of losing $2.3 billion through reckless deals and deceit broke down in tears in court as he insisted he is not guilty of fraud. Kweku Adoboli took the stand for the first time Friday, six weeks into his trial for fraud and false accounting. He was arrested in September 2011 after UBS discovered irregularities in its records.

  • Offutt scores TV success, ready to abandon it Friday, 26 Oct 2012 | 9:54 AM ET

    NASHVILLE, Tenn.-- Chris Offutt doesn't have HBO, so he's going to head over to a neighbor's house Sunday night to watch "Treme." He's felt the lure of Hollywood, heard the Sirens in the distance. And the 54- year-old Kentucky native has experienced enough success as a screenwriter and story editor on TV's brainiest shows that it felt real.

  • Sandy pounds Bahamas after killing 29 in Caribbean Friday, 26 Oct 2012 | 9:54 AM ET

    NASSAU, Bahamas-- Hurricane Sandy raged through the Bahamas early Friday after leaving 29 people dead across the Caribbean, following a path that could see it blend with a winter storm to hit the U.S. East Coast with a super-storm next week.

  • UBS "rogue trader" cries after entering witness box Friday, 26 Oct 2012 | 9:53 AM ET

    LONDON, Oct 26- Accused UBS fraudster Kweku Adoboli cried within seconds of entering the witness box at his trial in London on Friday. Adoboli's defence counsel Paul Garlick started by asking him some questions about his early life and family.