Latest Business News Wires - Business Headlines


  • US hopes buoy markets despite Spain uncertainties Tuesday, 2 Oct 2012 | 6:41 AM ET

    LONDON-- Surprise good news from the U.S. continued to shore up financial markets Tuesday despite concerns about the economic outlook of both Greece and Spain. "The ISM rose above the critical 50 mark in a surprise move yesterday thus creating a jamboree of good sentiment," said Carolin Hecht, an analyst at Commerzbank.

  • Failed rescue of Romania chemical co draws protest Tuesday, 2 Oct 2012 | 6:26 AM ET

    BUCHAREST, Romania-- Hundreds of workers have protested at a Romanian chemical plant after the government scrapped the sale of the debt-ridden company, saying the prospective buyer had failed to prove he could pay.

  • Report wants Europe's banks to wall off risky ops Tuesday, 2 Oct 2012 | 6:21 AM ET

    BRUSSELS-- Europe's banks should create a firewall between their traditional retail banking operations and more risky investment banking ones and force executives to personally take losses when their banks fail, a new expert report suggested Tuesday. Ireland has already gone bankrupt rescuing its banking sector, and Spain could, too.

  • 6 crew arrested in deadly Hong Kong boat collision Tuesday, 2 Oct 2012 | 6:15 AM ET

    HONG KONG-- Hong Kong police on Tuesday arrested six crew members from two boats in a collision that killed 38 holiday revelers, but offered no theory about how the vessels ran into each other on a clear night in one of the safest and most regulated waterways in Asia.

  • Oil approaches $93 after US manufacturing improves Tuesday, 2 Oct 2012 | 5:48 AM ET

    BANGKOK-- The price of oil approached $93 a barrel Tuesday in Asia after a report showed U.S. manufacturing rose in September for the first time in four months. Benchmark oil for November delivery was up 21 cents to $92.69 a barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange.

  • Stocks muted as US manufacturing, Spain weighed Tuesday, 2 Oct 2012 | 5:29 AM ET

    BANGKOK-- World stock markets lost momentum Tuesday as investors weighed an improvement in U.S. manufacturing against the possibility Spain's government debt will be downgraded to junk status. Britain's FTSE 100 fell 0.3 percent to 5,806.11. In Asia, Japan's Nikkei 225 index shed morning gains to close 0.1 percent lower at 8,786.05.

  • Spain's registered jobless ticks up in September Tuesday, 2 Oct 2012 | 3:29 AM ET

    MADRID-- The number of people registered as unemployed in Spain rose by a little under 80,000 people to 4.71 million in September as the summer tourism season came to an end and businesses let workers go, the Labor Ministry said Tuesday.

  • *Myanmar gets its first investment bank Tuesday, 2 Oct 2012 | 3:17 AM ET
  • Portugal scraps rent controls, alarms low-earners Tuesday, 2 Oct 2012 | 2:59 AM ET

    LISBON, Portugal-- The peaceful retirement of Teresa Dourado is about to be shattered. The 77- year-old widow raised two children with her husband in their fourth-floor apartment behind Lisbon's Campo Pequeno bull-ring.

  • Hong Kong mogul sells loss-making Taiwan TV arm Tuesday, 2 Oct 2012 | 1:22 AM ET

    TAIPEI, Taiwan-- Hong Kong media mogul Jimmy Lai announced Tuesday he will sell his prized Taiwan television business, best known for its fanciful animated takes on political and celebrity scandals, because of big financial losses.

  • Australia lowers key interest rate to 3.25 percent Tuesday, 2 Oct 2012 | 1:15 AM ET

    SYDNEY-- Australia's central bank cut its benchmark interest rate by a quarter percentage point Tuesday as a slowdown in China's economy and persistent weakness in Europe adds to uncertainty about Australia's economic outlook.

  • India's Kingfisher halts flights for 3 days Tuesday, 2 Oct 2012 | 1:10 AM ET

    MUMBAI, India-- Kingfisher Airlines has grounded flights for at least three days after a violent strike over unpaid wages at the cash-strapped Indian carrier. Chief executive Sanjay Aggarwal met with India's airline regulator Tuesday. Aggarwal said half of Kingfisher's employees received their salary for March 2012, though he forfeited his.

  • Oil near $92 after US manufacturing improves Tuesday, 2 Oct 2012 | 1:05 AM ET

    BANGKOK-- Oil prices dwelled near $92 a barrel Tuesday in Asia after a report showed U.S. manufacturing rose in September for the first time in four months. Benchmark oil for November delivery was down 17 cents to $92.31 a barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange.

  • Diamondback Energy prices IPO Tuesday, 2 Oct 2012 | 12:58 AM ET

    MIDLAND, Texas-- Diamondback Energy Inc. said Tuesday that it plans to sell 12.5 million shares in its business for between $17 and $19 per share in an initial public offering of the oil and gas company.

  • News Summary: Vanguard switches fund benchmarks Tuesday, 2 Oct 2012 | 12:56 AM ET

    BENCHMARK SWITCH: The Vanguard Group has negotiated lower cost index-licensing deals that will result in 22 of its index mutual funds switching to new benchmarks, and adjusting stock holdings accordingly. NEW PARTNERS: The funds currently track indexes, or groups of stocks in certain market segments, licensed from the firm MSCI.

  • AFL-CIO endorses boycott of American Crystal Sugar Tuesday, 2 Oct 2012 | 12:56 AM ET

    WASHINGTON-- The AFL-CIO has endorsed a nationwide consumer boycott of American Crystal Sugar products to protest its 14- month lockout of union workers.

  • Gambling exec: US needs Internet poker regulations Tuesday, 2 Oct 2012 | 12:56 AM ET

    LAS VEGAS-- Brick-and-mortar casinos are opening in Ohio and Illinois. Voters in Oregon, Rhode Island and Maryland will vote on gambling initiatives Nov. 6.

  • Survey: Confidence slips among Mass. employers Tuesday, 2 Oct 2012 | 12:55 AM ET

    BOSTON-- A monthly index measuring confidence among Massachusetts employers has slipped a bit after showing improvement for two consecutive months.

  • Spain PM: Bailout request is not imminent Tuesday, 2 Oct 2012 | 12:51 AM ET

    MADRID-- Spain's prime minister denied Tuesday that he was ready to request a bailout for the country, fending off mounting speculation that a move to ask the European Central Bank to buy Spanish bonds and push down the nation's high borrowing costs was near.

  • Aruba Networks delays 2012 filing, stock falls Tuesday, 2 Oct 2012 | 12:44 AM ET

    NEW YORK-- Shares of Aruba Networks fell more than 7 percent on Tuesday after the company delayed the filing its full-year results because of internal control issues.

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