Latest Business News Wires - Business Headlines


  • Terror suspect's family says he asked to go to US Thursday, 18 Oct 2012 | 6:23 PM ET

    NEW YORK-- Quazi Mohammad Rezwanul Ahsan Nafis was a terrible student in his native Bangladesh, and his middle-class parents say he persuaded them to send him off to study in the U.S. as a way of improving his job prospects.

  • News summary: Cos. walk a fine line with celebs Thursday, 18 Oct 2012 | 6:08 PM ET

    PUTTING ITS FOOT DOWN: Nike Inc. has stood by athletes through a number of scandals over the years, but this week it became the first company to sever ties with Armstrong in the wake of allegations that he used illegal drugs to boost his performance.

  • Acacia Research posts 3Q loss on charges Thursday, 18 Oct 2012 | 5:51 PM ET

    NEWPORT BEACH, Calif.-- Acacia Research Corp., which buys and licenses patents, said Thursday that it posted a third-quarter loss on higher expenses and hefty charges, including non-cash stock compensation. The loss totaled $6.4 million, or 13 cents per share, in the July-through-September quarter.

  • Farmworkers sue Calif. regulators over heat rules Thursday, 18 Oct 2012 | 5:47 PM ET

    FRESNO, Calif.-- The United Farm Workers of America sued California's work safety division Thursday, saying state regulators aren't enforcing heat regulations, leading to continued illnesses and deaths in the fields.

  • TransCanada temporarily shuts Keystone pipeline Thursday, 18 Oct 2012 | 5:39 PM ET

    KANSAS CITY, Mo.-- TransCanada Corp. has temporarily shut down its existing 2,100- mile Keystone pipeline after tests showed possible safety issues, a federal agency said Thursday.

  • E-Trade Financial swung to loss in Q3 Thursday, 18 Oct 2012 | 5:37 PM ET

    NEW YORK-- Online brokerage E-Trade Financial Corp. said Thursday that it swung to a loss in the third quarter, as investors made far fewer trades than a year ago. The company reported a net loss of $29 million, or 10 cents per share, in the July-September quarter. That compares with profit of $71 million, or 24 cents per share, in the third quarter of 2011..

  • News Summary: Fund manager sees reason for caution Thursday, 18 Oct 2012 | 5:35 PM ET

    ATYPICAL RECORD: The Appleseed Fund is a stock mutual fund that has been one of the best performers over the latest 5- year period, yet among the worst over three years. It's a result of the fund's defensive investing approach, which can help or hinder performance depending on the market's direction.

  • Corvette production idled for 6 months in Ky Thursday, 18 Oct 2012 | 5:26 PM ET

    LOUISVILLE, Ky.-- General Motors plans to idle Corvette production in Kentucky for six months to prepare for the next generation of the iconic sports car. The automaker laid out its schedule Thursday for revamping its assembly plant in Bowling Green for the all-new 2014 model.

  • News Summary: Supervalu says it's in active talks Thursday, 18 Oct 2012 | 5:20 PM ET

    THE NUMBERS: Grocery store operator Supervalu lost $111 million, or 52 cents per share, in the quarter ended Sept. 8, while revenue dropped 5 percent to $8.04 billion. THE COMPANY: Supervalu's chains include Albertsons, Cub Foods, Jewel-Osco and Save-A-Lot.

  • BP: Sealed ocean well isn't source of Gulf sheen Thursday, 18 Oct 2012 | 5:15 PM ET

    NEW ORLEANS-- A sheen on the Gulf of Mexico likely came from oil seeping out of a piece of discarded equipment that failed to contain BP PLC's massive 2010 oil spill, the company and the Coast Guard said Thursday. The Coast Guard said oil samples collected on Wednesday will be analyzed to determine if the container is the source of the sheen.

  • $50K prize if you can find way to block robocalls Thursday, 18 Oct 2012 | 5:14 PM ET

    WASHINGTON-- Those annoying prerecorded phone pitches known as robocalls aren't just getting on the nerves of millions of consumers: The government is fed up too, and it's turning to the public for help, offering a cash reward for the best way to stop the unwanted sales calls.

  • Cubist income rises on better sales, lower taxes Thursday, 18 Oct 2012 | 5:13 PM ET

    LEXINGTON, Mass.-- Cubist Pharmaceuticals Inc. said Thursday that its net income rose 66 percent in the third quarter on greater sales of its antibiotic Cubicin and other products, and lower tax costs. The company said its net income grew to $40.3 million, or 55 cents per share, in the three months through Sept. 30, from $24.2 million, or 33 cents per share, a year ago.

  • Cos. walk a tricky line with endorsements Thursday, 18 Oct 2012 | 5:08 PM ET

    NEW YORK-- Nike forgave Tiger Woods after his infidelity was exposed. It welcomed back Michael Vick once he served time for illegal dog-fighting. At least five other companies followed Nike's lead, highlighting the tricky relationship that evolves when marketers sign multimillion-dollar deals for celebrity and athletes to endorse their products.

  • Appleseed mutual fund, at a glance Thursday, 18 Oct 2012 | 5:08 PM ET

    Here's a look at the Appleseed Fund, one of the strongest performers in the mid-cap value stock mutual fund category over the latest 5- year period, according to Morningstar. MANAGERS: Bill Pekin; Rick Singer; Adam Strauss; Joshua Strauss; Ronald Strauss. _ Sprott Physical Gold Trust.

  • Fund manager: Plenty of reason to be cautious now Thursday, 18 Oct 2012 | 5:07 PM ET

    BOSTON-- The Appleseed Fund is unusual, and not just because of its strict socially-responsible investing mandate. One reason Morningstar analysts give the fund a bronze-medal rating is its nearly 7 percent average annualized return over five years, a period that includes the 2008 stock market meltdown.

  • Government looks to public for help on robocalls Thursday, 18 Oct 2012 | 5:01 PM ET

    WASHINGTON-- Those annoying prerecorded phone pitches known as robocalls aren't just getting on the nerves of millions of consumers: The government is fed up too, and it's turning to the public for help.

  • Going out of print, Newsweek ends an era Thursday, 18 Oct 2012 | 4:53 PM ET

    NEW YORK-- There was a time when the newsweeklies set the agenda for the nation's conversation _ when Time and Newsweek would digest the events of the week and Americans would wait by their mailboxes to see what was on the covers.

  • Google, Nokia, eBay are market movers Thursday, 18 Oct 2012 | 4:51 PM ET

    NEW YORK-- Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and Nasdaq Stock Market:. Nokia Corp., down 14 cents at $2.80. Supervalu Inc., up 10 cents at $2.14.

  • Oil prices flat at $92 Thursday, 18 Oct 2012 | 4:48 PM ET

    U.S. benchmark crude eased 2 cents to finish at $92.10 a barrel. Brent crude, which many U.S. refiners use to make gasoline, fell 80 cents to $112.42 in London. China's economic news also offered a complicated outlook for oil demand.

  • Marvell: chief financial officer has resigned Thursday, 18 Oct 2012 | 4:45 PM ET

    SANTA CLARA, Calif.-- Computer chip maker Marvell Technology Group Ltd. said Thursday that Chief Financial Officer Clyde Hosein has resigned from the company to pursue other opportunities. Hosein will assist the company with its search, Marvell said in a statement. Marvell also cut its revenue outlook for its fiscal third quarter on Thursday.