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Latest Business News Wires - Business Headlines


  • Dirty money cost China $3.8 trillion 2000-2011 -report Thursday, 25 Oct 2012 | 11:46 PM ET

    WASHINGTON, Oct 25- China has lost $3.79 trillion over the past decade in money smuggled out of the country, a massive amount that could weaken its economy and create instability, according to a new report.

  • Samsung, reporting its results just hours after main rival Apple Inc, did not detail its third-quarter smartphone shipments, though these are estimated to have soared to 58 million. Apple said it shipped 26.9 million iPhones in July-September It launched its latest iPhone 5 on Sept. 21.

  • New Zealand dairy giant launches stock market fund Thursday, 25 Oct 2012 | 11:45 PM ET

    WELLINGTON, New Zealand-- New Zealand dairy giant Fonterra is launching a fund on the New Zealand and Australian stock markets worth at least 500 million New Zealand dollars. Fonterra chairman Henry van der Heyden says the listing will provide the cooperative with capital security while preserving 100 percent farmer control and ownership.

  • UPDATE 4-Amazon reports first quarterly net loss in years Thursday, 25 Oct 2012 | 11:39 PM ET

    *Amazon spending heavily on warehouses, Kindle technology, cloud business. SAN FRANCISCO, Oct 25- Amazon.com Inc reported its first quarterly net loss in more than five years on Thursday as the world's largest Internet retailer spent heavily and suffered from an economic slowdown in Europe.

  • Japan Sept core CPI falls 0.1 pct year/year Thursday, 25 Oct 2012 | 11:35 PM ET

    TOKYO, Oct 26- Japan's core consumer prices fell 0.1 percent in the year to September, down for the fifth straight month, government data showed on Friday, in a sign the economy has a long way to go before achieving the Bank of Japan's inflation target of 1 percent.

  • Nikkei seen advancing as easing hopes sustain gains Thursday, 25 Oct 2012 | 11:34 PM ET

    TOKYO, Oct 26- Japan's Nikkei share average is expected to rise on Friday, supported by expectations of significant easing by the Bank of Japan, while investors appear to have priced in cuts to profit forecasts in the current earnings season.

  • UPDATE 1-California's GMO labeling proposal in tight race Thursday, 25 Oct 2012 | 11:34 PM ET

    LOS ANGELES/ KANSAS CITY, Oct 25- Heavy advertising spending by Monsanto Co and others opposed to a California ballot proposal to require labels on grocery products containing genetically modified organisms is paying off, according to a new poll that shows the measure has slipped into a virtual tie.

  • UPDATE 4-Hurricane Sandy menaces U.S. after slamming Cuba Thursday, 25 Oct 2012 | 11:33 PM ET

    HAVANA, Oct 25- Hurricane Sandy swelled into a major threat to much of the U.S. East Coast on Thursday after lashing Cuba with heavy rains and tree-toppling winds and swirling through the Bahamas, U.S. forecasters said.

  • Kia Motors misses forecast in 3Q profit Thursday, 25 Oct 2012 | 11:31 PM ET

    SEOUL, South Korea-- Kia Motors Corp. reported its third-quarter profit came in below expectations, impacted by a labor strike and weak demand at home. South Korea's second-biggest carmaker said Friday its July-September quarter's net income rose 28 percent over a year earlier to 829 billion won.

  • Asia stocks fall on weaker US housing data Thursday, 25 Oct 2012 | 11:28 PM ET

    BANGKOK-- Asian stock markets fell Friday after the latest data on U.S. housing dimmed hopes of improvement in an industry that is crucial to recovery in the world's No. 1 economy.

  • UPDATE 3-Gardner Denver confirms exploring potential sale Thursday, 25 Oct 2012 | 11:21 PM ET

    *Gardner Denver shares close up 20.5 percent. NEW YORK, Oct 25- Industrial machinery maker Gardner Denver Inc said it is exploring strategic alternatives including a potential sale or merger of the company, confirming a Reuters report earlier on Thursday.

  • *Chile has lowest borrowing cost among emerging nations, minister says. Oct 25- Chile placed $1.5 billion in dollar-denominated bonds on international markets at historic yields, giving the investor-darling the lowest borrowing cost of any emerging country, Finance Minister Felipe Larrain said on Thursday.

  • TOKYO, Oct 26- Japan Post Holdings Co has drafted a plan to go public in late 2015 and the government expects to raise up to 7 trillion yen from the sale of two-thirds of its shares to finance reconstruction from the March 2011 disaster, the Nikkei newspaper reported.

  • The company, whose biggest shareholder is Sprint Nextel, said Softbank Corp's plan to pay $20 billion for a 70 percent stake in Sprint is good news for Clearwire, which also counts Sprint as its biggest customer. Many analysts expect that Sprint will use the Softbank investment to buy the remainder of Clearwire or provide it with additional funding.

  • Bank of China quarterly profit up 17 percent Thursday, 25 Oct 2012 | 11:11 PM ET

    BEIJING-- Bank of China Ltd., one of the country's four main state-owned banks, says its quarterly profit rose 17 percent despite an economic slowdown and interest rate reforms. The bank said it earned 34.8 billion yuan in the three months ending Sept. 30, up from 29.8 billion yuan a year ago.

  • WASHINGTON, Oct 25- U.S. weapons maker Lockheed Martin Corp said on Thursday it faced a potential termination liability of $1.1 billion on the F-35 fighter program unless it received additional funding for production of a sixth batch of airplanes by year end.

  • Oct 25- Spirit AeroSystems Holdings Inc on Thursday warned of sizeable cost overruns on parts it supplies to major aircraft makers, sending its stock tumbling more than 30 percent.

  • Highfields portfolio manager to leave and launch own firm Thursday, 25 Oct 2012 | 11:07 PM ET

    BOSTON, Oct 25- A top portfolio manager at Highfields Capital plans to leave the investment firm next year to set up his own hedge fund, two people familiar with the matter said. Highfields, which oversees $11.6 billion, is one of the $2 trillion hedge fund industry's biggest and most closely watched firms, with top-tier clients, including Harvard University.

  • South Korea Q3 GDP up 0.2 pct qtr/qtr, near 3-yr low Thursday, 25 Oct 2012 | 11:06 PM ET

    SEOUL, Oct 26- South Korea's economy grew by 0.2 percent in the July-September period over the previous three-month period, the central bank's advance estimates showed on Friday, roughly in line with the market's consensus forecast.

  • TABLE-South Korea Q3 GDP growth slowest since late 2009 Thursday, 25 Oct 2012 | 11:06 PM ET

    SEOUL, Oct 26- Following are details of the advance estimates of South Korea's gross domestic product data for the July-September period by the country's central bank, the Bank of Korea: OVER PREVIOUS QUARTER, SEASONALLY ADJUSTED. Q3 2012* Q2 2012 Gross domestic product 0.2 0.3. 2010 6.3 2009 0.3 2008 2.3 2007 5.1* Revised on Sept 6, 2012.