Latest Business News Wires - Business Headlines


  • 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.

  • 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.

  • *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.

  • 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.

  • MADRID, Oct 25- Spain will tap 60 billion euros from a European credit line agreed in June to recapitalise its troubled lenders, a draft amendment before Parliament showed, but the government still plans to use only 40 billion of that. The financial sector reform must be enacted before the end of November as part of the conditions for Spain to get aid for the banks.

  • Potash Corp. 3rd-quarter net income falls 22 pct Thursday, 25 Oct 2012 | 11:52 AM ET

    Potash Corp. of Saskatchewan Inc. said Thursday that its net income fell 22 percent on a drop in overseas sales. The Canadian fertilizer maker earned $645 million, or 74 cents per share, down from $826 million, or 94 cents per share, in the same quarter last year.

  • SAO PAULO, Oct 25- Banco Santander Brasil SA posted an 8.5 percent decline in third-quarter profit on Thursday, as rising delinquencies forced the nation's largest lender to boost bad loan provisions.

  • Earnings, excluding a one-time tax hit, fell to $233.7 million, or 70 cents a share, from $315 million, or 95 cents a share, a year earlier, CME said on Thursday. Revenue fell 22 percent to $683 million, missing the Wall Street forecast of $693 million, as trading declined 26 percent.

  • Celgene results beat forecasts, as Revlimid delivers Thursday, 25 Oct 2012 | 11:47 AM ET

    Oct 25- Celgene Corp's quarterly results beat expectations on strong sales of its Revlimid cancer treatment, and the biotechnology company narrowly raised its full-year profit forecast. Excluding special items, Celgene earned $1.29 per share. Global company revenue rose 14 percent to $1.42 billon, topping Wall Street expectations of $1.41 billion.

  • On the Call: Altria Group CEO Marty Barrington Thursday, 25 Oct 2012 | 11:47 AM ET

    Altria Group Inc., the owner of the biggest U.S. cigarette maker, Philip Morris USA, continues to focus its efforts on building its premium Marlboro brand which has been under pressure from competitors and lower-priced cigarette brands as consumers face economic challenges and unemployment remains high.

  • *Obama vows to protect women's health care rights Thursday, 25 Oct 2012 | 11:47 AM ET
  • Business events scheduled for Friday Thursday, 25 Oct 2012 | 11:47 AM ET

    WASHINGTON _ Commerce Department releases third-quarter gross domestic product, 8:30 a.m.. Arch Coal Inc. reports quarterly financial results. Comcast Corp. reports quarterly financial results.