Latest Business News Wires - Business Headlines


  • Gold now top conflict mineral in Congo: Report Thursday, 25 Oct 2012 | 9:50 AM ET

    GOMA, Congo-- Gold is now the primary source of income for armed groups in eastern Congo, and is ending up in jewelry stores across the world, according to a report published Thursday by the Enough Project.

  • Imprisoned detective may pose risk to star clients Thursday, 25 Oct 2012 | 9:47 AM ET

    LOS ANGELES-- Four years after a private eye went to prison for wiretapping phones of the rich and famous on behalf of celebrities and Hollywood heavyweights, his clients are facing hefty bills for his skullduggery.

  • News Summary: Marlboro maker Altria 3Q profit down Thursday, 25 Oct 2012 | 9:46 AM ET

    THE RESULTS: Marlboro maker Altria Group Inc.' s third-quarter net income fell 44 percent to of $657 million on charges for a loss on early extinguishment of debt. Revenue, excluding excise taxes, rose about 3 percent to $4.46 billion. OTHER TOBACCO: Volumes of its smokeless tobacco brands such as Copenhagen and Skoal rose nearly 6 percent.

  • PARIS, Oct 25- France Telecom cut its dividend for this year and next by over 40 percent on Thursday, as it tackles tougher than expected competition in its key home market from upstart rival Free Mobile and a weaker economic outlook.

  • Hiring, orders and earnings news lifts stocks Thursday, 25 Oct 2012 | 9:45 AM ET

    NEW YORK-- Stocks are starting higher on Wall Street after investors finally got some better news on the economy and corporate earnings. Procter& Gamble led the Dow Jones industrial average higher after the giant consumer products company reported earnings that beat analysts' expectations.

  • German bank seeking damages from Ecclestone Thursday, 25 Oct 2012 | 9:43 AM ET

    BERLIN-- A German bank says it's seeking damages from Formula One boss Bernie Ecclestone over the sale of its stake in the racing series it says was compromised by a bribe to one of its bankers. BayernLB spokesman Matthias Luecke says the bank wrote to Ecclestone's lawyers this week seeking damages but declined to discuss details.

  • TOKYO, Oct 25- Japan's Canon Inc cut its full-year earnings outlook and posted a weaker-than-expected quarterly profit as Chinese consumers began shunning Japanese products over a territorial spat, adding to corporate Japan's pain from a slowing global economy.

  • Raytheon posts flat 3Q net income on lower revenue Thursday, 25 Oct 2012 | 9:36 AM ET

    WALTHAM, Mass.-- Raytheon Co. said Thursday that third-quarter income was flat, hurt by a slight drop in revenue and tough comparisons to a prior-year quarter boosted by a hefty tax-related gain. But the profit beat Wall Street predictions and the defense contractor boosted its profit prediction for the full year.

  • National Oilwell 3Q profit rises on overseas sales Thursday, 25 Oct 2012 | 9:36 AM ET

    HOUSTON-- National Oilwell Varco Inc. said Thursday that third-quarter profit rose 14 percent, and it predicted strong fourth-quarter demand for drilling rigs used in deep water. Net income was $612 million, or $1.43 per share, compared with $532 million, or $1.25 per share, a year earlier.

  • UPDATE 1-Strengthening Hurricane Sandy slams into Cuba Thursday, 25 Oct 2012 | 9:34 AM ET

    *Makes landfall southwest of Santiago de Cuba. HAVANA, Oct 25- Hurricane Sandy, strengthening rapidly after crossing the warm Caribbean Sea, slammed into southeastern Cuba early on Thursday with 105 mph winds that cut power and blew over trees across the city of Santiago de Cuba.

  • How states fared on applications for jobless aid Thursday, 25 Oct 2012 | 9:32 AM ET

    California: Up 26,935, due to layoffs in all sectors, particularly the service industry. Florida: Up 3,947, due to layoffs in agriculture, construction, manufacturing, retail and services. Ohio: Up 1,936, due to layoffs in transportation and manufacturing.

  • *Journal Communications earnings rise 73 percent Thursday, 25 Oct 2012 | 9:32 AM ET
  • HONG KONG/ SHANGHAI, Oct 25- Hong Kong's commitment to its 29- year-old currency peg to the U.S. dollar risks making the already pricey city even more expensive as policymakers try to manage a wave of foreign money seeking to cash in on a potential Chinese recovery.

  • Brash Tokyo governor quits to form political party Thursday, 25 Oct 2012 | 9:27 AM ET

    Shintaro Ishihara, who recently played a key role in reviving a bitter territorial dispute with China, told a packed news conference that he wants to fix the nation's fiscal and political problems.

  • AP Interview: Japan nuke plant water worries rise Thursday, 25 Oct 2012 | 9:25 AM ET

    TOKYO-- Japan's crippled nuclear power plant is struggling to find space to store tens of thousands of tons of highly contaminated water used to cool the broken reactors, the manager of the water treatment team said.

  • ZTE posts a first quarterly loss, margins bleed Thursday, 25 Oct 2012 | 9:24 AM ET

    HONG KONG, Oct 25- ZTE Corp, the world's fourth-biggest maker of mobile phones and fifth-ranked telecommunications equipment manufacturer, reported a net loss of 1.95 billion yuan for July-September, its first quarterly loss on record, as margins thinned, overseas projects were delayed and it made accounting changes at home in China.

  • News Summary: McKesson buying PSS World for $1.46B Thursday, 25 Oct 2012 | 9:24 AM ET

    THE BUY: Prescription drug distributor McKesson Corp. said Thursday it will buy PSS World Medical Inc., a medical supply distributor, for $1.46 billion, or $34 per share. THE PRICE: McKesson valued the deal at $2.1 billion including debt.

  • 2 associates of ex-Cowboy Lockhart get prison Thursday, 25 Oct 2012 | 9:24 AM ET

    DALLAS-- Two business associates of former Dallas Cowboys linebacker Eugene Lockhart Jr. have been sentenced to prison in a $20 million mortgage scam. A federal judge in Dallas on Wednesday sentenced William Randolph Tisdale Jr. to 10 years for conspiracy to commit wire fraud and bank fraud.

  • *Obama lobbies casino workers in late-night pitch Thursday, 25 Oct 2012 | 9:24 AM ET
  • Biases on beauty draw Thais to illegal surgery Thursday, 25 Oct 2012 | 9:23 AM ET

    BANGKOK-- Her dream was to look less Thai and more like Jennifer Lopez, so the 25- year-old street food vendor went to the Internet and typed in "cheap Botox." That was the start of a five-year makeover for Ratphila Chairungkit that included two nose jobs, two eye-widening surgeries, chin augmentation, lip trimming, skin whitening and dozens of Botox-type injections.