Latest Business News Wires - Business Headlines


  • China's economic growth slows to 7.4 percent Wednesday, 17 Oct 2012 | 10:36 PM ET

    BEIJING-- China's economic growth tumbled to the lowest in more than three years in the latest quarter but retail sales and investment improved in a possible sign a painful slump might be stabilizing.

  • China's Haier poised to take over Fisher & Paykel Wednesday, 17 Oct 2012 | 9:35 PM ET

    WELLINGTON, New Zealand-- Chinese home appliance giant Haier Group on Thursday announced it is poised to complete a takeover bid for the small but well-regarded New Zealand manufacturer Fisher& Paykel Appliances after sweetening an earlier offer. The move will allow Haier to gain a valued brand as well as technology pioneered by the New Zealand company.

  • Canadian beef recall plant to be taken over Wednesday, 17 Oct 2012 | 9:12 PM ET

    EDMONTON, Alberta-- A subsidiary of a Brazilian-based company is taking over management of XL Foods, the Alberta plant at the heart of one of the largest beef recalls in Canada's history.

  • News Summary: EBay posts higher 3Q earnings Wednesday, 17 Oct 2012 | 8:57 PM ET

    STILL GROWING: EBay Inc.' s net income grew 22 percent in the third quarter thanks to higher revenue at its PayPal payments service and the marketplaces business that includes eBay.com. 2012 OUTLOOK HIGHER: EBay raised its full-year guidance slightly and CEO John Donahoe expressed cautious optimism about the upcoming holiday shopping season.

  • News Summary: American Express profit rose in 3Q Wednesday, 17 Oct 2012 | 8:51 PM ET

    THE RESULTS: American Express' net income rose 1 percent in the third quarter to $1.25 billion, or $1.09 per share. That compares with net income of $1.24 billion, or $1.03 per share, in the same quarter last year. BAD LOANS: American Express' delinquency rate was flat compared to the second quarter.

  • Judge sides with DC Comics in fight over Superman Wednesday, 17 Oct 2012 | 8:48 PM ET

    The ruling means that DC Comics and its owner Warner Bros. will retain all rights to continue using the character in books, films, television and other mediums, including a the film reboot planned for next year.

  • On the Call: American Express CFO Dan Henry Wednesday, 17 Oct 2012 | 8:21 PM ET

    American Express Co. launched a digital payments platform last year aimed at competing with bank debit cards and other prepaid cards. The program, dubbed Serve, allows customers to open an online prepaid account that can be funded using a bank account, an American Express card or another credit card.

  • Align Tech slumps on 3Q estimate and 4Q outlook Wednesday, 17 Oct 2012 | 8:10 PM ET

    NEW YORK-- Align Technology Inc., which makes the Invisalign clear braces system, slumped Wednesday after the company gave disappointing estimates for its third-quarter results and offered a weak fourth-quarter forecast. Align Technology shares skidded $7.05, or 20 percent, to $28.36 in aftermarket trading following the announcement.

  • NY philanthropist freed on bail after court ruling Wednesday, 17 Oct 2012 | 8:06 PM ET

    NEW YORK-- An opera-loving philanthropist convicted in New York of a multimillion-dollar fraud has been freed on bail to await the outcome of his appeal. Alberto Vilar was freed Wednesday on $10 million bail from a federal lockup in Fort Dix, N.J. He'll be required to wear an electronic bracelet, as he was before his November 2008 conviction.

  • Man held in NYC plot to blow up Federal Reserve Wednesday, 17 Oct 2012 | 7:30 PM ET

    NEW YORK-- A Bangladeshi man who came to the United States to wage jihad was arrested in an elaborate FBI sting on Wednesday after attempting to blow up a fake car bomb outside the Federal Reserve building in Manhattan, authorities said.

  • Feds seek 8 years for ex-Goldman director in NY Wednesday, 17 Oct 2012 | 7:19 PM ET

    District Judge Jed Rakoff, who this year presided over the trial in which Rajat Gupta was convicted. Gupta, a 63- year-old former board member for Goldman and Procter& Gamble Co., faces sentencing Oct. 24.

  • NM peanut capital at heart of national recall Wednesday, 17 Oct 2012 | 7:15 PM ET

    ALBUQUERQUE, N.M.-- The eastern New Mexico town of Portales is preparing for its 39th annual peanut festival this weekend. But the festivities may be overshadowed by anxiety over the shuttering of a local plant at the heart of a national peanut butter recall.

  • A look at Lance Armstrong and his sponsors Wednesday, 17 Oct 2012 | 7:14 PM ET

    This is a look at companies that have re-examined their relationship with the cyclist in light of the U.S. Anti-Doping Agency's decision to ban him for life from the sport based on evidence he used performance-enhancing drugs to win the Tour de France:.

  • Michigan Senate sends Blue Cross overhaul to House Wednesday, 17 Oct 2012 | 7:03 PM ET

    In exchange for operating as the state's so-called insurer of last resort _ meaning it must provide insurance coverage regardless of a customer's health status _ Blue Cross has been exempt from paying several local and state taxes.

  • NYPD chief: Terror suspect arrived on student visa Wednesday, 17 Oct 2012 | 6:55 PM ET

    NEW YORK-- New York City Police Commissioner Raymond Kelly says the 21- year-old arrested on charges that he plotted to blow up the Federal Reserve building in Manhattan came to the U.S. on a student visa. Authorities tracked him using Facebook and other social media, but the account was taken down Wednesday.

  • NZ stock market halts trading in Fisher & Paykel Wednesday, 17 Oct 2012 | 6:51 PM ET

    WELLINGTON, New Zealand-- The New Zealand stock market has suspended trading in shares of Fisher& Paykel Appliances pending an announcement. The home appliance company has been the target of a $704 million takeover bid by Chinese home appliance giant Haier Group, which already owns 20 percent of the company.

  • News Summary: Should you change checking accounts? Wednesday, 17 Oct 2012 | 6:49 PM ET

    PAYING MORE FOR CHECKING: The average monthly service fee on checking accounts rose 25 percent from last year to a record $5.48, according to financial data publisher Bankrate. ATM fees rose 4 percent and overdraft fees rose 1.4 percent.

  • Should you look for a new checking account? Wednesday, 17 Oct 2012 | 6:48 PM ET

    The average monthly service fee on checking accounts that don't pay interest is now a record $5.48, a 25 percent increase over last year, according to Bankrate, a financial data publisher. The fee for using an ATM outside a bank's network rose to $2.50, a 4 percent increase.

  • Earnings Preview: 3M expected to post 3Q profit Wednesday, 17 Oct 2012 | 6:44 PM ET

    MINNEAPOLIS-- 3 M Co. makes an array of stuff that, taken together, can be a good indicator of where the economy is today, and where it's headed. That's what investors will be looking for when 3 M reports third-quarter results on Tuesday. WHAT TO WATCH FOR: 3 M makes Post-it notes.

  • MannKind Corp. plans public stock offering Wednesday, 17 Oct 2012 | 6:40 PM ET

    VALENCIA, Calif.-- Shares of MannKind Corp. fell sharply in after-hours trading Wednesday after the diabetes drug developer said it is planning a public offering of stock and warrants. MannKind said that it intends to sell common shares and warrants to purchase common shares in the underwritten offering.