Latest Business News Wires - Business Headlines


  • Oil ends slightly higher, around $86 a barrel Thursday, 25 Oct 2012 | 3:25 PM ET

    Benchmark oil gained 32 cents to finish at $86.05 a barrel in New York. Brent crude added 64 cents to end at $108.49 a barrel in London. Any reading above that could spark a rise in oil to the $87- $88 a barrel level, said Jim Ritterbusch of Ritterbusch and Associates.

  • Weak business spending drags on US growth Thursday, 25 Oct 2012 | 3:24 PM ET

    WASHINGTON-- Companies are holding off on purchases of computers, industrial equipment and other long-lasting manufactured goods, a trend that's slowing the U.S. economy. A fourth straight month of lackluster corporate spending led many economists on Thursday to trim their forecasts for growth in the July-September quarter.

  • GRAINS-Decline on tepid export sales; demand concerns Thursday, 25 Oct 2012 | 3:23 PM ET

    Wheat was down 0.5 percent, erasing earlier gains due to a lack of buying interest following Wednesday's nearly 2 percent price rally in response to news Ukraine would ban wheat exports from Nov. 15.

  • *CME sees big interest from U.S. commercial sector. LONDON, Oct 25- CME Group expects to see the first trades in its new aluminium swap futures contract by the end of this year as it taps consumer frustration with having to pay steep surcharges to get metal in the midst of a glut, the exchange's head of metals said.

  • Copper falls on persistent global growth worries Thursday, 25 Oct 2012 | 3:20 PM ET

    Copper for December delivery dropped 1.75 cents Thursday to finish at $3.5505 per pound. The National Association of Realtors said the number of people who signed contracts to buy homes rose slightly in September. In addition, the Commerce Department said orders for durable goods jumped 9.9 percent last month, driven by a hefty increase in aircraft orders.

  • Oct 25- The New York Times Co reported worse-than-expected results on Thursday as advertisers cut spending on both print and digital outlets, sending shares down 12 percent. Adjusting for severance costs and other special items, the company reported a quarterly loss of 1 cent per share, well below expectations of earnings of 8 cents per share.

  • Stocks waver on a big earnings day Thursday, 25 Oct 2012 | 3:19 PM ET

    NEW YORK-- A weak showing in home sales and a mixed batch of earnings reports kept the stock market flipping between minor gains and losses on Wall Street.

  • FACTBOX-South African firms hit by labour strife Thursday, 25 Oct 2012 | 3:18 PM ET

    JOHANNESBURG, Oct 25- About 100,000 workers have downed tools for better pay in South Africa since August. In October around 15,000 were sacked and thousands returned to work after threats of dismissal.

  • Mich. reports 2nd straight big jobless rate drop Thursday, 25 Oct 2012 | 3:17 PM ET

    LANSING, Mich.-- Michigan is reporting a second straight big drop in unemployment, with the rate down 2.1 percentage points in two months. The Department of Technology, Management& Budget said Thursday that Michigan's seasonally unadjusted unemployment rate stood at 8.2 percent in September, down from 9.2 percent in August and 10.3 percent in July.

  • 1-800-Flowers.com reports wider 1Q loss Thursday, 25 Oct 2012 | 3:16 PM ET

    CARLE PLACE, N.Y.-- Flower delivery service 1-800- Flowers.com said Thursday that its fiscal first quarter loss widened, mainly because year-ago results included a hefty gain from discontinued operations. Loss for the three months ended Sept. 30 totaled $4.6 million, or 7 cents per share.

  • *AstraZeneca, Sanofi, Novartis all hit by patent loss in Q3. *Sanofi, Novartis forecast to post rises of 21 pct, 9 pct. While AstraZeneca faces years of continuing sales declines, due to a lack of new drugs to replace those losing protection, Sanofi and Novartis are turning the corner.

  • *Lifts full-year profit view by 15 cents to $1.85- $1.95.

  • COLUMN-Is a revolution in economic thinking under way? Thursday, 25 Oct 2012 | 3:13 PM ET

    This week an even more radical debate burst into the open in Britain.

  • *P&G profit of $1.06/ share tops expectations of 96 cents. Oct 25- Procter& Gamble Co's profit rose more than expected, indicating that the world's largest household products maker is making progress after coming under pressure from activist investor William Ackman, and its shares soared to the highest level in four years.

  • WASHINGTON, Oct 25- U.S. business investment showed signs of stalling in September, an indication that worries over a possible sharp tightening in the federal budget are already weighing on the economy.

  • New York Times 3Q net income drops 85 percent Thursday, 25 Oct 2012 | 3:06 PM ET

    The media company, which publishes its namesake newspaper and the Boston Globe, earned $2.3 million, or 2 cents per share, in the July-September period. In the year-ago quarter, the Times Co. booked a one-time gain of $37.8 million, or 24 cents per share, from the sale of its stake in the Red Sox and other sports holdings.

  • DETROIT, Oct 25- AutoNation Inc, the largest U.S. automotive retailer, posted slightly lower than expected third-quarter earnings and revenue on Thursday and its shares fell more than 7 percent. In an interview, Chief Executive Mike Jackson said the earnings miss was due to AutoNation buying back fewer shares than expected.

  • Oct 25- CME Group Inc, the biggest operator of U.S. futures exchanges, reported a slide in third-quarter profit as investors used fewer futures and options, but it beat expectations by a penny per share due to lower expenses.

  • Oct 25- Bayerische Motoren Werke AG's BMW of North America affiliate said it will recall 7,485 of its 7 Series luxury sedans from model years 2005-2007 that may have faulty door latches. BMW said the doors may not latch due to a software problem on cars equipped with both Comfort Access and Soft Close Automatic options.

  • *Shares in Hong Kong more than halved this year. HONG KONG, Oct 25- ZTE Corp, the world's fourth-biggest maker of mobile phones and fifth-ranked telecommunications equipment manufacturer, reported its first quarterly loss- of $310 million- since listing in Hong Kong in 2004, on shredded margins, project delays and accounting changes in China.