Latest Business News Wires - Business Headlines


  • *Bailed-out Portugal raises $2.4 BN in debt auction Wednesday, 17 Oct 2012 | 6:25 AM ET
  • German government cuts 2013 growth forecast Wednesday, 17 Oct 2012 | 6:18 AM ET

    BERLIN-- Europe's debt crisis and waning economic growth around the world, particularly in emerging markets, prompted the German government to cut its forecast for growth next year.

  • HK officials charged in housing fraud scandal Wednesday, 17 Oct 2012 | 6:05 AM ET

    HONG KONG-- Hong Kong's anti-corruption watchdog charged a former government secretary with fraud Wednesday over a housing scandal that erupted days after he was appointed by the city's new leader.

  • Oil steady on Wall Street gains, hope for Spain Wednesday, 17 Oct 2012 | 6:00 AM ET

    BANGKOK-- A positive day for stock markets and hopes that Spain might be on the verge of requesting a bailout to fix its debt crisis kept oil prices steady Wednesday. Benchmark oil for November delivery was unchanged at $92.09 a barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange.

  • Germany: No decision on banking union at EU summit Wednesday, 17 Oct 2012 | 5:45 AM ET

    BERLIN-- A top German government official on Wednesday dashed hopes of swift progress on strengthening Europe's financial sector, saying this week's summit of the bloc's 27 leaders won't make any final decisions on setting up a single banking supervisor.

  • Greek bank Alpha to buy unit from Credit Agricole Wednesday, 17 Oct 2012 | 5:33 AM ET

    ATHENS, Greece-- Greece's Alpha Bank says it has agreed to buy loss-making competitor Emporiki Bank from French lender Credit Agricole for the symbolic sum of 1. Credit Agricole, France's third-largest bank, is selling its Greek business due to concern over the country's financial crisis, which has caused massive losses on loans and government bond holdings.

  • Bank of England panel divided on future stimulus Wednesday, 17 Oct 2012 | 5:00 AM ET

    LONDON-- The likelihood that the Bank of England might approve more economic stimulus next month decreased on Wednesday as minutes from the latest policy meeting showed the rate-setters disagreed on the program's effectiveness and official figures showed the unemployment rate has dropped.

  • Stocks shine as Thais, Filipinos nurture stability Wednesday, 17 Oct 2012 | 4:42 AM ET

    BANGKOK-- The two Asian nations with the region's best performing stock markets in the past year are unlikely havens for investors: Thailand and the Philippines. The PSE benchmark in the Philippines has soared 29 percent in the last 12 months and Thailand's SET index is up a whopping 33 percent.

  • Market pressure eases on Spain amid bailout hopes Wednesday, 17 Oct 2012 | 4:04 AM ET

    MADRID-- Rising speculation that Spain will soon ask for outside help to keep a lid on its borrowing costs has helped ease the pressure on the country in financial markets. There was also some relief in the markets that Moody's did not cut its credit rating on the country as had been widely-feared.

  • Texas landowners take a rare stand against Big Oil Wednesday, 17 Oct 2012 | 3:19 AM ET

    SUMNER, Texas-- Oil has long lived in harmony with farmland and cattle across the Texas landscape, a symbiosis nurtured by generations and built on an unspoken honor code that allowed agriculture to thrive while oil was extracted. In the minds of some landowners approached by TransCanada for land, the company has broken the code.

  • World Food Prize activities attract Occupy protest Wednesday, 17 Oct 2012 | 3:08 AM ET

    DES MOINES, Iowa-- It's difficult to argue with the goals of the World Food Prize Foundation _ to recognize people who have helped improve the quality and availability of food to reduce world hunger.

  • Dutch firm ASML looks to buy US light beam maker Wednesday, 17 Oct 2012 | 2:54 AM ET

    AMSTERDAM-- ASML Holding NV, the biggest supplier of equipment to semiconductor manufacturers, has offered to buy Cymer Inc. of the U.S. for around $2.55 billion in cash and shares.

  • RBS exits government insurance on risky assets Wednesday, 17 Oct 2012 | 2:45 AM ET

    LONDON-- Royal Bank of Scotland, which was rescued in Britain's biggest bank bailout, said Wednesday that it is getting out of an emergency insurance program which helped stabilize the company after it nearly collapsed. Royal Bank of Scotland shares were up 1.6 percent at 284.5 pence in early trading in London.

  • Danone third-quarter sales up 9.4 percent Wednesday, 17 Oct 2012 | 2:27 AM ET

    PARIS-- Yogurt maker Danone says its sales grew solidly in the third quarter of the year, driven by its booming waters business and strong growth in Asia. The Paris- based maker of Evian bottled water warned this year that the economic slowdown in Europe would hit its performance.

  • India, Australia to begin talks on uranium exports Wednesday, 17 Oct 2012 | 2:04 AM ET

    NEW DELHI-- India and Australia agreed Wednesday to begin negotiations on civil nuclear energy cooperation that would eventually allow the export of Australian uranium to the energy-starved South Asian nation.

  • Oil up following Wall Street gains, hope for Spain Wednesday, 17 Oct 2012 | 1:35 AM ET

    BANGKOK-- A positive day for stock markets and hopes that Spain might be on the verge of requesting a bailout to fix its debt crisis helped push oil prices higher Wednesday. Benchmark oil for November delivery was up 16 cents to $92.25 a barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange.

  • UniFirst shares jump on fiscal 4Q profit beat Wednesday, 17 Oct 2012 | 12:52 AM ET

    WILMINGTON, Mass.-- Shares of UniFirst Corp. rose Wednesday after the uniform company said that its fiscal fourth-quarter profit rose 25 percent, although it issued a modest full-year forecast due to concerns about high unemployment.

  • *Greece and creditors agree on most issues: troika Wednesday, 17 Oct 2012 | 12:50 AM ET
  • 2nd worker injured in Okla. refinery blast dies Wednesday, 17 Oct 2012 | 12:44 AM ET

    OKLAHOMA CITY-- A second man who was injured in an explosion at an Oklahoma oil refinery has died. A University of Oklahoma Medical Center spokesman says Russell Mann of Davis died Tuesday at the Oklahoma City hospital.

  • Big water gear to be transported on Idaho's US 12 Wednesday, 17 Oct 2012 | 12:43 AM ET

    BOISE, Idaho-- A large shipment of water-purification equipment will be transported through Idaho to Montana on a disputed mountain highway where big loads have been the subject of oversized controversy.