Latest Business News Wires - Business Headlines


  • Utah board backs 1st US oil sands project Wednesday, 24 Oct 2012 | 4:37 PM ET

    SALT LAKE CITY-- Utah gave its final approval Wednesday for the first commercial tar sands project in the U.S., handing a victory to a Canadian company that aims to start producing 2,000 barrels of oil next year in the start of what could grow into a larger operation.

  • News Summary: Facebook stock surges Wednesday, 24 Oct 2012 | 4:37 PM ET

    STOCK SURGE: Facebook's stock gained the most in a single day since its May IPO, closing up 19 percent, or $3.73, at $23.23 Wednesday. MOBILE RELIEF: Several analysts upgraded the social network after its third-quarter results were posted Tuesday, which detailed for the first time how much money it makes from mobile ads.

  • News Summary: China manufacturing improves -survey Wednesday, 24 Oct 2012 | 4:35 PM ET

    RAMPING UP: A survey by HSBC found that China's manufacturing improved this month. the data showed strong gains from September, and adds to signs a recovery might be happening after a sharp slump. It adds to data last week that showed retail sales and investment picking up.

  • How the major stock indexes fared Wednesday Wednesday, 24 Oct 2012 | 4:34 PM ET

    The market began to fade after 2 p.m., when the Federal Reserve repeated its assessment that the U.S. economy still needed help to increase growth and lower unemployment. The S&P 500 is down 24.44 points, or 1.7 percent. The S&P 500 is up 151.15 points, or 12 percent.

  • Daimler lowers 2012 outlook as Q3 net profit slips Wednesday, 24 Oct 2012 | 4:32 PM ET

    BERLIN-- German automaker Daimler AG lowered its full-year earnings target Wednesday after its third quarter net profit declined 11 percent to 1.20 billion from 1.36 billion a year ago.

  • Mine Safety Appliances 3Q income falls 4 percent Wednesday, 24 Oct 2012 | 4:32 PM ET

    PITTSBURGH-- Mine Safety Appliances Co. said Wednesday that its net income fell 4 percent in the third quarter after it sold off two businesses. Mine Safety said its net income declined to $19.2 million, or 51 cents per share, from $20 million, or 54 cents per share. Shares of Mine Safety Appliances rose 28 cents to $36.98 in trading Wednesday.

  • Hanesbrands' share fall on conservative outlook Wednesday, 24 Oct 2012 | 4:31 PM ET

    WINSTON-SALEM, N.C.-- Shares of clothing maker Hanesbrands Inc. fell Wednesday as investors digested a conservative profit outlook that was below what analysts had expected. During a conference call with investors late Tuesday, Rich Noll CEO said that Penney was a "big drag" on sales, particularly in bras and other underwear.

  • Low interest in Mamtek leftovers at Mo. auction Wednesday, 24 Oct 2012 | 4:30 PM ET

    MOBERLY, Mo.-- An auction of assets left over from Moberly's failed artificial sweetener factory drew curious onlookers and piecemeal bidders Wednesday but no large company swooping in to replace a project once cast as the small city's economic salvation.

  • Bettman says full season 'not going to be reality' Wednesday, 24 Oct 2012 | 4:28 PM ET

    Speaking at a news conference Wednesday announcing the New York Islanders' move from Nassau Coliseum to Brooklyn's Barclays Center in 2015, Bettman seemed resigned to looking at a shortened season with the NHL and the players' association still at odds after months of negotiations.

  • *Germany sells 3.3 bln euros of 10- yr bonds, demand good. Businesses in the region suffered their worst month in October since the bloc emerged from its last recession more than three years ago, surveys showed, while Germany's Ifo economic research institute said the country's business climate worsened in October.

  • Boeing shares up 1 pct, General Dynamics up 3.7 pct. Lockheed Martin Corp, Boeing Co's defense division and Northrop Grumman Corp reported higher earnings and strong margins despite weakening sales, driving their shares higher on the New York Stock Exchange.

  • *PolyOne to buy plastics maker Spartech Corp. Wednesday, 24 Oct 2012 | 4:25 PM ET
  • *Carney says new language means rate hike less imminent. *Third quarter growth forecast cut to 1.0 percent from 2.0. OTTAWA, Oct 24- The Bank of Canada is likely to raise interest rates later than it once thought, Governor Mark Carney said on Wednesday, citing weak third-quarter growth and more slack in the economy.

  • News Summary: Meningitis pharmacy investigated Wednesday, 24 Oct 2012 | 4:23 PM ET

    DISTRESSING DISCOVERY: An investigation into a Massachusetts pharmacy at the center of a deadly meningitis outbreak has found conditions including leaky boilers, dirty floor mats and drugs shipped out without sterility tests.

  • US sued Bank of America over alleged mortgage fraud Wednesday, 24 Oct 2012 | 4:23 PM ET

    Oct 24- The United States on Wednesday filed a civil mortgage fraud lawsuit against Bank of America Corp, accusing it of deliberately generating and then selling thousands of toxic home loans that later defaulted to Fannie Mae and Freddie Mac.

  • WRAPUP 1-European car makers suffer day of reckoning Wednesday, 24 Oct 2012 | 4:20 PM ET

    PARIS/ GENK, Belgium, Oct 24- Car makers suffered a day of reckoning on Thursday when Ford announced Europe's third plant closure this year, Peugeot accepted state aid and even Volkswagen reported a big drop in profits.

  • UPDATE 2-PolyOne Corp to buy Spartech for $246 mln Wednesday, 24 Oct 2012 | 4:17 PM ET

    Oct 24- Chemical company PolyOne Corp struck a $246 million deal to buy plastic products maker Spartech Corp, a maker of bulletproof barriers and aircraft cabin windows, to enter new markets. PolyOne stock rose as much as 9 percent to an all-time high of $18.32 on the New York Stock Exchange while Spartech shares lept 65 percent to a 20- month high of $8.48.

  • Ex-Goldman exec given 2 years for inside trades Wednesday, 24 Oct 2012 | 4:16 PM ET

    NEW YORK-- A former Goldman Sachs and Procter& Gamble Co. board member was sentenced to two years in prison Wednesday, culminating a spectacular fall from grace for a man whose good deeds worldwide brought him leniency after he was convicted of feeding inside information about board dealings to a billionaire hedge fund owner who was his friend.

  • Stocks close down again, giving up early gains Wednesday, 24 Oct 2012 | 4:12 PM ET

    The market began to fade after 2 p.m., when the Federal Reserve repeated its assessment that the U.S. economy still needed help to increase growth and lower unemployment. Netflix plunged 12 percent after slashing its target for full-year subscriber growth. About four stocks fell for every three that rose on the New York Stock Exchange.

  • Audit: US oversight of charter school funds lax Wednesday, 24 Oct 2012 | 4:11 PM ET

    LOS ANGELES-- An audit of the U.S. Department of Education's division overseeing hundreds of millions of dollars in charter school funding has criticized the office for failing to properly monitor how states spend the money.