Latest Business News Wires - Business Headlines


  • PONTIAC, Michigan, Oct 24- General Motors Co said the redesigned 2014 Chevrolet Corvette that goes on sale next year will get a new 450- horsepower V8 engine.

  • News Summary: US new home sales reach 2-year high Wednesday, 24 Oct 2012 | 4:55 PM ET

    HIGHER SALES: U.S. sales of new homes jumped last month to the highest level in more than two years, the latest evidence of a sustained housing recovery that could boost the sluggish economy.

  • Swiss companies brace for "fat cat" pay vote Wednesday, 24 Oct 2012 | 4:52 PM ET

    *Swiss to vote on curbing executive pay on March 3. ZURICH, Oct 24- Swiss business is rallying to arms to defend top managers' pay as the government set a date on Wednesday for a referendum that may impose the world's first law forcing companies to accept any limits shareholders place on executive rewards.

  • Wynn Resorts' 3Q profit falls, revenue flat Wednesday, 24 Oct 2012 | 4:52 PM ET

    LAS VEGAS-- Wynn Resorts Ltd. says its profit fell nearly 12 percent in the third quarter, as a debt-related loss boosted expenses for the casino operator. The Las Vegas company said Wednesday that net income fell to $112 million, or $1.11 per share, compared with net income of $127.1 million, or $1.01 per share, a year earlier.

  • News Summary: Eurozone debt hits new peak Wednesday, 24 Oct 2012 | 4:51 PM ET

    DEBT PROBLEMS GROW: Europe's debt problems are getting worse, as new figures show total government debt of the 17 countries that use the euro was worth 90 percent of their total economic output as of the end of the second quarter.

  • Global trade in services stopped growing in Q2 Wednesday, 24 Oct 2012 | 4:51 PM ET

    GENEVA, Oct 24- Global trade in commercial services such as tourism and air travel showed zero growth in the second quarter of 2012 as the Europe Union's appetite shrank 7 percent, preliminary trade figures showed on Wednesday. The Europe- led slowdown follows a Europe- led boom a year ago.

  • Oct 24- Chili's Grill& Bar parent Brinker International Inc on Wednesday said a cool-down in sales at established restaurants was stretching into the current quarter, sending its shares down more than 10 percent.

  • The White House released it Wednesday after the editor of the newspaper, which is still deciding its presidential endorsement, wrote a blistering blog complaining of the restriction.

  • SINGAPORE, Oct 24- UBS AG has suspended at least one trader in Singapore for possible manipulation of interbank lending rates, sources told Reuters, as the fallout from the Libor scandal widens. A spokeswoman for UBS in Singapore declined to comment on the suspensions.

  • News Summary: Nintendo cuts year forecast Wednesday, 24 Oct 2012 | 4:48 PM ET

    LESS RED INK: Nintendo Co. narrowed its losses in the first half of its fiscal year. A year ago, it had cut the price of its 3 DS game machine, hurting its results.

  • Ky. miners to plead guilty in federal court Wednesday, 24 Oct 2012 | 4:48 PM ET

    LOUISVILLE, Ky.-- Two mining officials who worked at an eastern Kentucky underground mine where a worker was killed last year are preparing to plead guilty to federal safety violations, according to court records.

  • Report: Pa. has 4th-highest in-state tuition costs Wednesday, 24 Oct 2012 | 4:46 PM ET

    PITTSBURGH-- A new report from the College Board says Pennsylvania has the fourth-highest in-state tuition charges in the nation for four-year public universities. The Penn State University Park campus topped the list nationally with in-state tuition and fees totaling more than $17,200 for the current class.

  • News Summary: Stocks stabilize, and Dow drops 25 Wednesday, 24 Oct 2012 | 4:46 PM ET

    CALM RETURNS: The Dow Jones industrial average fell 25 points one day after a 243- point decline, its third-worst of the year. LIKE: Facebook had its best day since its stock market debut in May. REMOVE FROM QUEUE: Netflix dropped 12 percent after slashing its prediction for how many U.S. video-streaming subscribers it would add this year to 4.7 million to 5 million.

  • 3 weeks until Philly casino application deadline Wednesday, 24 Oct 2012 | 4:46 PM ET

    PHILADELPHIA-- Pennsylvania's gambling board on Wednesday reminded developers there are three weeks before the Nov. 15 deadline to submit applications for Philadelphia's second casino license.

  • *US says bank sold toxic loans to Fannie Mae, Freddie Mac. Oct 24- The United States filed a civil mortgage fraud lawsuit against Bank of America Corp, accusing it of selling thousands of toxic home loans that later defaulted to Fannie Mae and Freddie Mac, leading to more than $1 billion of losses.

  • Argentine enforcer to auction critic's licenses Wednesday, 24 Oct 2012 | 4:45 PM ET

    BUENOS AIRES, Argentina-- Argentina's new media regulator says he's prepared to auction off the broadcast licenses of the government's leading critic.

  • News Summary: Google maps Grand Canyon trails Wednesday, 24 Oct 2012 | 4:45 PM ET

    BACKPACK CAM: Google brought its all-seeing eyes to the Grand Canyon's Bright Angel Trail, a nearly 10- mile hike to the Colorado River. OFF-ROAD: Google has mapped more than 3,000 cities in 43 countries.

  • NEW YORK, Oct 24- The euro fell on Wednesday on signs that the euro zone is heading for a deeper recession than previously feared, but global shares were little changed after Tuesday's steep fall.

  • UPDATE 3-Draghi defends bond-buying plan in lion's den Wednesday, 24 Oct 2012 | 4:43 PM ET

    *Greece says to get 2 more years to meet bailout target. *Germany, Draghi say no decision yet on Greece. BERLIN, Oct 24- European Central Bank President Mario Draghi gave a robust defence of his bond-buying plan to ease the euro zone debt crisis, telling sceptical German lawmakers that fears of illegal funding of governments or stoking inflation were misplaced.

  • NJ Anti-foreclosure aid program being reviewed Wednesday, 24 Oct 2012 | 4:43 PM ET

    TRENTON, N.J.-- The Christie administration believes it is now making it easier for New Jersey homeowners facing foreclosure to qualify for federal aid. Community Affairs Commissioner Richard Constable told Assembly members Wednesday that the program now has more staff, better management and has relaxed qualifying requirements.