Latest Business News Wires - Business Headlines


  • Kan. unemployment drops to 5.9 percent in Sept. Friday, 19 Oct 2012 | 10:32 AM ET

    TOPEKA, Kan.-- A new report says the Kansas jobless rate dropped below 6 percent in September for the first time in almost four years. Kansas last had a jobless rate below 6 percent in December 2008. The department also said Kansas continues to see modest growth in private, non-farm employment.

  • Survey: NYCers more optimistic about city future Friday, 19 Oct 2012 | 10:31 AM ET

    The survey was conducted by the Marist Institute for Public Opinion on behalf of the Municipal Art Society of New York. When asked which of New York City's five boroughs was the best place to start a new business, 44 percent of those polled picked Manhattan, while 62 percent thought it was the most artistic or creative borough.

  • La. casinos win $199.7 in September Friday, 19 Oct 2012 | 10:29 AM ET

    NEW ORLEANS-- Gamblers lost nearly $199.7 million at Louisiana's state licensed casinos in September, up from $188 million for August and $196.6 million for September of last year.

  • Charges of cronyism in Hungary farmland contracts Friday, 19 Oct 2012 | 10:28 AM ET

    KAJASZO, Hungary-- Gergely Bocsodi's family has been farming in this central Hungarian village for six generations but he fears there may not be a seventh, as the region is caught up in a once-in-20-years land grab.

  • Suits seek to block mountaintop mines in 2 states Friday, 19 Oct 2012 | 10:28 AM ET

    LOUISVILLE, Ky.-- The Sierra Club along with environmental groups in Kentucky and West Virginia are attempting to block permitting at two mountaintop surface mines, alleging in federal lawsuits that the U.S. Army Corps of Engineers did not consider potential health impacts on residents.

  • Fla. gov troubled by firings at property insurer Friday, 19 Oct 2012 | 10:25 AM ET

    TALLAHASSEE, Fla.-- A move by Florida's largest property insurer to dismiss employees responsible for investigating wrongdoing drew criticism Thursday from Gov.

  • Wyoming goes through 3rd driest water year Friday, 19 Oct 2012 | 10:24 AM ET

    CHEYENNE, Wyo.-- Wyoming just completed its third driest year in 118 years and saw its driest March through September period ever, the National Weather Service said Thursday. Wyoming averaged 8.77 inches of snow and rain in the most recent measurement year, which ran from October 2010 to September.

  • First Niagara 3rd-qtr profit down on restructuring Friday, 19 Oct 2012 | 10:23 AM ET

    The holding company for First Niagara Bank said Friday that the period ended Sept. 30 was its 11th straight quarter of double-digit growth for its commercial loan book. First Niagara's net income available to common shareholders fell to $50.8 million, or 14 cents per share, from $57 million, or 19 cents per share, in the same period last year.

  • Report: Nebraska wind power would boost economy Friday, 19 Oct 2012 | 10:23 AM ET

    LINCOLN, Neb.-- Nebraska is trailing its neighbors in wind-energy development and missing an opportunity to add jobs to the state economy while producing a cleaner form of energy, according to a report released Thursday.

  • Drought strains Minnesota's water resources Friday, 19 Oct 2012 | 10:22 AM ET

    MINNEAPOLIS-- Drought conditions are straining water supplies in the Land of 10,000 Lakes, leading Minnesota officials on Thursday to urge residents to cut back on their water use. "We're encouraging all nonessential uses to really be curtailed and stopped," Department of Natural Resources official Dave Leuthe said during a conference call with reporters. "

  • Feds probe complaints that Jeep Patriots stall Friday, 19 Oct 2012 | 10:21 AM ET

    Chrysler Group LLC, the maker of Jeeps, sold another 18,000 in Canada. In one complaint, a Subaru driver told NHTSA that on May 2, a Patriot's engine died while it was on Interstate 5 on the West Coast. The Subaru was behind the Patriot when it happened, and the woman driving the SUV did not hit the brakes, according to the complaint. "

  • Earnings from McDonald's, Microsoft sink stocks Friday, 19 Oct 2012 | 10:19 AM ET

    NEW YORK-- Poor earnings reports from three companies in the Dow Jones industrial average _ Microsoft, General Electric and McDonalds _ sent indexes down sharply Friday, marking a sour end to an otherwise strong week in the stock market. McDonald's led a broad drop in the Dow, falling 3 percent.

  • Cooper Industries 3Q net income rises 18 pct Friday, 19 Oct 2012 | 10:19 AM ET

    NEW YORK-- Cooper Industries' third-quarter profit rose 18 percent with the electrical component seeing greater demand from industrial and oil and gas markets. The company, which is being acquired by Eaton Corp., earned $188.4 million, or $1.16 per share, up from $160.2 million, or 98 cents per share, in the same quarter last year.

  • US home sales dip 1.7 percent on tight inventory Friday, 19 Oct 2012 | 10:08 AM ET

    WASHINGTON-- U.S. sales of previously occupied homes fell in September after hitting a two-year high in August, in part because there were fewer homes available for sale. The National Association of Realtors said Friday that sales dipped 1.7 percent to a seasonally adjusted annual rate of 4.75 million.

  • Celanese to buy back $400M in shares Friday, 19 Oct 2012 | 10:05 AM ET

    DALLAS-- Celanese Corp., which makes specialty materials and chemicals, said Friday that it increased its share buyback program by $264 million. Celanese, based in Dallas, has been facing lower pricing in its acetyl intermediates business, a weakened European economy and slower growth in Asia. Shares of Celanese fell 83 cents to $37.38 in morning trading.

  • ADM now owns 15 pct of Australia's GrainCorp Friday, 19 Oct 2012 | 10:02 AM ET

    NEW YORK-- Agribusiness conglomerate Archer Daniels Midland, seeking to acquire Graincorp, said Friday that it now owns nearly 15 percent of the Australian grain handler. Archer Daniels Midland Co. purchased a 10 percent stake in GrainCorp Ltd. Thursday night, adding to its existing 4.9 percent holding.

  • MagicJack posts 3Q profit, reversing loss Friday, 19 Oct 2012 | 9:56 AM ET

    WEST PALM BEACH, Fla.-- Internet phone company MagicJack VocalTec Ltd. reported a third-quarter profit on Friday, reversing a small loss a year earlier, thanks to sharply higher revenue and lower expenses. Israel- based MagicJack earned $15.1 million, or 78 cents per share, for the three months ended Sept. 30.

  • Czech brocade becomes hit in western Africa Friday, 19 Oct 2012 | 9:55 AM ET

    BROUMOV, Czech Republic-- When the managers of a textile factory in northern Czech Republic declared they would focus sales on Africa, their bankers, insurers and suppliers shook their heads in disbelief.

  • KMG Chemicals chairman to retire, successor named Friday, 19 Oct 2012 | 9:55 AM ET

    HOUSTON-- KMG Chemicals Inc. said Thursday that its chairman, company founder David Hatcher, will retire in December and be replaced by another member of the company's board. KMG Chemicals shares fell 12 cents to $17.98 in morning trading Friday. They have traded in a 52- week range of $12.69 almost a year ago to $19.72 in early July.

  • Experts, travelers say fear of flying is treatable Friday, 19 Oct 2012 | 9:50 AM ET

    NEW YORK-- Earlier this month, NBA rookie Royce White disclosed that he is afraid to fly and said he expects to travel by bus to play in at least some of the basketball games for his team, the Houston Rockets.