Latest Business News Wires - Business Headlines


  • *SAfrica's finance minister decries inequality Thursday, 25 Oct 2012 | 11:45 AM ET
  • *Patriot Coal bankruptcy puts health care, pensions at risk. Oct 24- Peabody Energy Corp and Arch Coal Inc are being sued by mine workers who contend that the companies have an obligation to pay pension and health care benefits that were transferred to Patriot Coal in a 2007 spinoff.

  • Mead Johnson profit falls Thursday, 25 Oct 2012 | 11:42 AM ET

    Oct 25- Mead Johnson Nutrition Co reported lower quarterly profit on Thursday, hurt by a slowdown in China. The maker of Enfamil baby formula reported net income of $140.3 million, or 69 cents per share, in the quarter, down from $144.7 million, or 70 cents per share, a year earlier.

  • Ford to shut more plants as Europe losses grow Thursday, 25 Oct 2012 | 11:42 AM ET

    LONDON-- Ford pressed ahead Thursday with its plan to slash production in Europe, announcing another plant closure and 1,500 more job cuts, as it warned that annual losses in the region will exceed $1.5 billion this year and next.

  • UPDATE 1-Sprint posts wider quarterly loss Thursday, 25 Oct 2012 | 11:41 AM ET

    Oct 25- Sprint Nextel Corp posted a wider third-quarter loss on Thursday as it spent heavily on a network upgrade and lost customers from its iDen network, which it is shutting down. Sprint posted a loss of $767 million, or 26 cents per share, compared with a loss of $301 million, or 10 cents, in the third quarter a year ago.

  • Revlon reports a 3Q loss on charges, revenue up Thursday, 25 Oct 2012 | 11:41 AM ET

    NEW YORK-- The cosmetics company Revlon Inc. reported a loss for the third-quarter as restructuring and litigation charges more than offset the impact of a 3 percent rise in revenue. Revlon, whose brands include Almay, Mitchum and its namesake, said that it lost $15 million, or 29 cents per share in the three-month period ended Sept. 30.

  • Best Buy shares continue slide on dimmer outlook Thursday, 25 Oct 2012 | 11:40 AM ET

    NEW YORK-- Shares of Best Buy Co. continued to slide Thursday, a day after the struggling electronics retailer slashed its guidance for the year and announced the departure of two key executives as part of a turnaround push.

  • Noble Energy third-quarter profit lower Thursday, 25 Oct 2012 | 11:40 AM ET

    Oct 25- Noble Energy Inc on Thursday said its third-quarter profit fell, as natural gas prices weighed and output was hit by disruptions from Hurricane Isaac. Profit in the quarter was $221 million, or $1.23 per share, compared with $441 million, or $2.39 per share, a year earlier.

  • Oct 25- International Paper Co posted a lower-than-expected profit on Thursday due to weak sales of consumer packaging in North America and Asia. The company posted net earnings of $237 million, or 54 cents per share, compared with $468 million, or $1.08 per share, a year earlier.

  • Revenue, profit slip at gadget giant Jarden Thursday, 25 Oct 2012 | 11:39 AM ET

    RYE, N.Y.-- Jarden Corp., the company behind a smorgasbord of household products like Mr. On a per-share basis, earnings were $1 per share, down from $1.03, Jarden said late Wednesday.

  • United Continental posts lower quarterly net profit Thursday, 25 Oct 2012 | 11:38 AM ET

    Oct 25- United Continental Holdings Inc reported a lower quarterly profit on Thursday as revenue fell and operating expenses rose. The world's biggest carrier, formed when United bought Continental Airlines in 2010, had net income of $6 million, or 2 cents a share, in the third quarter, compared with $653 million, or $1.69 a share, a year earlier.

  • Procter & Gamble 1Q beats expectations Thursday, 25 Oct 2012 | 11:38 AM ET

    NEW YORK-- Procter& Gamble's fiscal first quarter net income fell 7 percent on a stronger dollar and costs related to restructuring, but its results beat Wall Street expectations in a sign that a turnaround plan that it started in the spring is beginning to work.

  • Shire 3Q income rises; CEO Russell will retire Thursday, 25 Oct 2012 | 11:37 AM ET

    NEW YORK-- Shire PLC said Thursday its net income rose 18 percent in the third quarter, even though increased generic competition cut into sales of its attention deficit hyperactivity disorder drug Adderall XR. Ornskov will become Shire's CEO-designate on Jan. 2 and will take over as CEO on April 30.

  • UPDATE 1-Hershey profit tops expectations by a penny Thursday, 25 Oct 2012 | 11:36 AM ET

    Oct 25- Hershey Co reported a slightly higher-than-expected quarterly profit on Thursday and raised its full-year outlook, citing the benefit of an acquisition and commodity costs that should not be as high as anticipated.

  • Biogen 3rd quarter profit rises Thursday, 25 Oct 2012 | 11:33 AM ET

    Oct 25- Biogen Idec Inc on Thursday reported higher-than-expected third-quarter profit on increased sales of its drugs for multiple sclerosis and cancer, and the U.S. biotechnology company raised its full-year earnings forecast. Biogen posted a net profit of $398 million, or $1.67 per share, compared with a profit of $354 million, or $1.43 per share, a year ago.

  • New Monitor publisher son of former publisher Thursday, 25 Oct 2012 | 11:30 AM ET

    McALLEN, Texas-- Stephan T. Wingert was named publisher Wednesday of The Monitor newspaper and as regional vice president responsible for all AIM Media Texas properties in the Rio Grande Valley.

  • UPDATE 1-Procter & Gamble blows past profit expectations Thursday, 25 Oct 2012 | 11:29 AM ET

    Oct 25- Procter& Gamble Co's profit excluding items rose more than expected on Thursday and the world's largest household products maker maintained a key forecast for the year, which indicated it is making progress after coming under pressure from activist investor William Ackman.

  • 3 companies bid in Minn. mineral rights auction Thursday, 25 Oct 2012 | 11:29 AM ET

    MINNEAPOLIS-- Three companies submitted bids to explore and mine for copper, nickel and other metals in Minnesota's latest mineral rights auction, the Department of Natural Resources said Wednesday.

  • European shares rise on UK growth, China output outlook Thursday, 25 Oct 2012 | 11:28 AM ET

    *UK Q3 GDP beats expectations; outlook good for China factories. *WPP, Daimler, France Telecom fall on earnings. LONDON, Oct 25- European shares rose on Thursday after China said factory output was set to accelerate and Britain's economy grew faster than expected in the third quarter.

  • SC Medicaid director: Predictions could be way off Thursday, 25 Oct 2012 | 11:28 AM ET

    COLUMBIA, S.C.-- The director of South Carolina's Medicaid agency warned legislators Wednesday that the numbers of already-eligible residents signing up for the government program through 2014 could exceed estimates, further eating into state revenue.