Latest Business News Wires - Business Headlines


  • WASHINGTON, Oct 25- A gauge of planned U.S. business spending was flat in September, a sign that heightened uncertainty is weighing on factories although new orders for long-lasting manufactured goods increased during the month.

  • Fifth & Pacific shrinks 3Q loss Thursday, 25 Oct 2012 | 1:16 PM ET

    NEW YORK-- Fifth& Pacific Companies Inc.' s shares jumped Thursday after the clothing company said its third-quarter loss narrowed on stronger sales of its Kate Spade and Lucky Brand lines. Fifth& Pacific posted a loss of $18.8 million, or 17 cents per share, for the quarter, compared with a loss of $214.6 million, or $2.27 per share, last year.

  • *McKesson to acquire PSS World Medical. *Procter& Gamble climbs after results. NEW YORK, Oct 25- U.S. stocks were poised for a higher open on Thursday, indicating the S&P 500 may rebound from its worst five-day slide in five months, on optimism the economies of both the U.S. and China may be recovering.

  • Biogen profit rises in 3Q on MS drug sales Thursday, 25 Oct 2012 | 1:14 PM ET

    WESTON, Mass.-- Biotech drugmaker Biogen Idec Inc. said Thursday its profit grew more than 13 percent in the third quarter, led by sales of the company's multiple sclerosis treatment Avonex. The Massachusetts- based company said revenue from Avonex grew 8 percent to $736.2 million in the period.

  • Top 20 Concert Tours from Pollstar Thursday, 25 Oct 2012 | 1:12 PM ET

    2. Bruce Springsteen& The E Street Band; $4,882,083; $93.76. 3. Cirque du Soleil _ " Michael Jackson: The Immortal"; $2,755,364; $91.94. 5. Enrique Iglesias/ Jennifer Lopez; $1,046,803; $78.91.

  • Oct 25- ConocoPhillips reported a lower third-quarter profit on Thursday that beat analysts' estimates, as it produced more crude than expected from high-margin fields such as the Eagle Ford and Bakken.

  • Graphic Packaging posts 3Q profit as items decline Thursday, 25 Oct 2012 | 1:04 PM ET

    MARIETTA, Ga.-- Graphic Packaging earned $40.1 million in the third quarter, reversing a year-ago loss when results were dampened by one-time charges. Net income was 10 cents per share, compared with a loss of $47.5 million, or 12 cents per share, a year earlier, when the company had $96 million in write-downs and restructuring costs.

  • UPDATE 1-Landstar Q3 profit rises, but outlook cautious Thursday, 25 Oct 2012 | 1:03 PM ET

    *Q3 EPS 71 cents vs 69 cents Wall Street view. *Landstar sees Q4 EPS 63- 68 cents vs 71 cents Wall St view. The company forecast fourth-quarter profit between 63 cents and 68 cents per share, below the average Wall Street target of 71 cents.

  • ND awards $2.5M more in Energy Impact Grants Thursday, 25 Oct 2012 | 1:01 PM ET

    BISMARCK, N.D.-- North Dakota's state land board has awarded $2.5 million in grants aimed at developing affordable housing for teachers in the western oil patch and also enhancing traffic safety in the region. They bring the total to $125 million in Energy Impact Gants approved during the current two-year budget cycle.

  • Comptroller: Texas schools racking up rising debt Thursday, 25 Oct 2012 | 1:00 PM ET

    AUSTIN, Texas-- Texas school districts are racking up escalating taxpayer debt to build new classrooms and buy equipment, the state's Republican comptroller said Thursday, as a trial gets under way on how the state funds public schools after slashing spending by $5.4 billion.

  • Oct 25- Mead Johnson Nutrition Co reported lower quarterly profit on Thursday and cut its full-year outlook, hurt by a slowdown in China. The maker of Enfamil baby formula said it now expected 2012 earnings of $2.91 to $2.96 per share, down from its prior forecast of $2.95 to $3.05.

  • Oct 25- Colgate-Palmolive Co unveiled a cost-cutting plan on Thursday that included cutting its workforce by the end of 2016 by about 6 percent. Third-quarter profit was $654 million, or $1.36 per share, compared with a profit of $643 million, or $1.31 per share, a year earlier.

  • *Dollar hits 4- mnth high v yen, euro claws back to $1.30. LONDON, Oct 25- Global shares and commodity markets rose on Thursday, pulled out of their recent slide by encouraging data from Britain and China and the U.S.

  • News Summary: Colgate to cut 6 pct. of workforce Thursday, 25 Oct 2012 | 11:56 AM ET

    NEW YORK-- GETTING THE GATE AT COLGATE: Colgate-Palmolive will cut more than 2,310 workers, or 6 percent of its workforce, by the end of 2016. Colgate, which is based in New York and has 38,600 employees, wants to streamline global functions.

  • *Dollar hits 4- mnth high v yen, euro claws back to $1.30. LONDON, Oct 25- Global shares and commodity markets rose on Thursday, pulled out of their recent slide by encouraging data from Britain and China and the U.S.

  • Reliance Steel & Aluminum 3Q net income climbs Thursday, 25 Oct 2012 | 11:55 AM ET

    LOS ANGELES-- Reliance Steel& Aluminum Co.' s third-quarter net income climbed 16 percent, helped by an inventory credit. The metals service-center company reported Thursday that it earned $98.1 million, or $1.30 per share, for the three months ended Sept. 30. For the fourth quarter, Reliance Steel& Aluminum anticipates earnings of 90 cents to $1 per share.

  • Mont. oil lease sale could mark Bakken expansion Thursday, 25 Oct 2012 | 11:55 AM ET

    BILLINGS, Mont.-- A Texas company has bought oil and gas leases on almost 75,000 acres in northeast Montana's McCone County in a move that could portend a significant westward expansion of the Bakken oil patch, government officials and a company representative said Wednesday.

  • Sovereign wealth funds, pension funds turn bankers Thursday, 25 Oct 2012 | 11:54 AM ET

    LONDON, Oct 25- Yield-hungry pension funds and sovereign wealth funds are stepping in where crisis-hit, regulation-laden banks are pulling back: lending to cash-starved businesses.

  • Oct 25- Fashion company Fifth& Pacific Cos Inc reported a loss from its continuing operations, hurt by the ongoing struggles of its Juicy Couture brand. Fifth& Pacific, known as Liz Claiborne Inc until May, reported a third-quarter net loss of $18.8 million, or 17 cents a share, compared with a year-earlier loss of $214.6 million, or $2.27 a share.

  • *Ford to close Southampton plant, Dagenham stamping plant. LONDON/ BASILDON, England, Oct 25- Ford will stop making vans in Britain next year, with the potential loss of 2,000 jobs, a union leader said, as part of a plan by the U.S. car maker to drag its European operations back into profit.