Latest Business News Wires - Business Headlines


  • Citi beats expectations after loss on brokerage Monday, 15 Oct 2012 | 8:02 AM ET

    NEW YORK-- Citigroup said Monday that it beat Wall Street predictions for quarterly earnings after stripping out a big loss on its retail brokerage and other one-time charges. That amounts to $1.06 per share, beating the 96 cents predicted by analysts polled by financial data provider FactSet.

  • US futures rebound after last week's sell-off Monday, 15 Oct 2012 | 7:47 AM ET

    Companies ranging from Alcoa to Wells Fargo put up numbers that were hardly weak but still gave investors reason to pause. On Monday, Citigroup easily beat Wall Street expectations for the third quarter, posting net income of $3.3 billion.

  • Pizza Hut backpedals on presidential debate stunt Monday, 15 Oct 2012 | 7:44 AM ET

    NEW YORK-- Pizza Hut is rethinking its contest daring people to ask "Sausage or Pepperoni?" at the presidential debate Tuesday. The pizza delivery chain had offered the prize _ a pie a week for 30 years or a check for $15,600 _ to anyone who posed the question to either President Barack Obama or Republican candidate Mitt Romney during the live Town Hall- style debate.

  • Ahead of the Bell: Urban Outfitters Monday, 15 Oct 2012 | 7:38 AM ET

    NEW YORK-- An analyst continues to believe that Urban Outfitters will be able to turn around its business during the second half of the year, driven by fewer markdowns and better products at its stores.

  • Here are the winners of this year's Nobel Prizes Monday, 15 Oct 2012 | 7:36 AM ET

    Americans Alvin Roth and Lloyd Shapley for the theory of stable allocations and the practice of market design, which among other things explains market processes at work when doctors are assigned to hospitals, students to schools and human organs for transplant to recipients.

  • European satellite provider cuts off Iranian TV Monday, 15 Oct 2012 | 7:34 AM ET

    Satellite provider Eutelsat agreed with media services company Arqiva to block the Irib channels as of Monday morning because of "reinforced EU council sanctions" Eutelsat spokeswoman Vanessa O'Connor said. Irib's access to Eutelsat was via a contract with Arqiva.

  • PepsiCo's 3Q should give glimpse at turnaround Monday, 15 Oct 2012 | 7:31 AM ET

    NEW YORK-- PepsiCo Inc. should give investors a snapshot of the company's progress in bolstering its flagship brands this year when it reports its third quarter results Wednesday. As a result, PepsiCo this year launched a major marketing campaign enlisting pop stars and athletes to rejuvenate the image of its namesake soda.

  • Lithuanians reject euro-driven austerity drive Monday, 15 Oct 2012 | 7:29 AM ET

    VILNIUS, Lithuania-- Lithuanians have dealt a blow to the conservative government's vision of a nation that would become a regional energy powerhouse and a member of the euro. Instead, they voted Sunday for politicians likely to dump austerity and rejected a plan to build a nuclear plant that could have made the country a net energy exporter.

  • Recent winners of Nobel economics prize Monday, 15 Oct 2012 | 7:25 AM ET

    _ 2010: Americans Peter Diamond and Dale Mortensen and Christopher Pissarides, of Britain and Cyprus, for their analysis of markets with search frictions. _ 2005: Robert J. Aumann, of Israel and the United States, and American Thomas C. Schelling, for their work in game-theory analysis.

  • 2 Americans win Nobel economics prize Monday, 15 Oct 2012 | 7:09 AM ET

    STOCKHOLM-- Americans Alvin Roth and Lloyd Shapley were awarded the Nobel economics prize on Monday for research that helps explain the market processes at work when doctors are assigned to hospitals, students to schools and human organs for transplant to recipients. Roth, 60, is a professor at Harvard University in Boston.

  • Ahead of the Bell: US business inventories Monday, 15 Oct 2012 | 6:39 AM ET

    WASHINGTON-- U.S. businesses likely increased their stockpiles in August, a sign of higher confidence in the economy. The Commerce Department will release the report at 10 a.m. EDT on Monday. Total business stockpiles rose to $1.59 trillion in July.

  • China economic figures shore up global markets Monday, 15 Oct 2012 | 6:34 AM ET

    LONDON-- A round of figures showing China's economy is in relatively good health helped buoy markets Monday, at the start of a week that could offer greater clarity on the economic fates of Greece and Spain. After a lackluster trading session in Asia, the news on China encouraged investors in Europe.

  • Ahead of the Bell: US retail sales Monday, 15 Oct 2012 | 6:31 AM ET

    WASHINGTON-- Retail sales likely showed a gain in September, helped by solid demand at auto dealerships. Economists were expecting overall sales to increase 0.8 percent in September, according to FactSet. The Commerce Department will release the report at 8:30 a.m. EDT on Monday.

  • Fiat Industrial: CNH rejects merger proposal Monday, 15 Oct 2012 | 5:59 AM ET

    MILAN-- U.S. farm and industrial vehicle group CNH has rejected a merger proposal from its parent, Fiat Industrial, the Italian company said in a statement Monday.

  • World stocks rise, Softbank pounces on Sprint Monday, 15 Oct 2012 | 5:33 AM ET

    BANGKOK-- European stocks rose and some Asian markets staged a comeback Monday as investors looked ahead to the release of U.S. earnings reports and Softbank's $20 billion deal for Sprint showed optimism amid economic turbulence.

  • German tax to finance renewable energy skyrockets Monday, 15 Oct 2012 | 4:32 AM ET

    BERLIN-- Germany's tax on households' electricity bills to finance the expansion of renewable energies will rise almost 50 percent on the year as the country pushes ahead with phasing out nuclear power within a decade. That brings the annual cost of financing Germany's energy switchover for a family of four to about 250 per year, including sales tax.

  • Volvo Cars to halt production in Sweden for 1 week Monday, 15 Oct 2012 | 4:02 AM ET

    STOCKHOLM-- Volvo Cars, owned by China's Geely Holding Group, has decided to temporarily halt production at its main Swedish plant for one week as demand in the automotive market continues to slip in recession-hit Europe. The Goteborg- based carmaker says Monday the production halt will affect some 3,300 employees and will last from Oct. 29 to Nov. 2.

  • Portugal to unveil more austerity in budget Monday, 15 Oct 2012 | 3:43 AM ET

    LISBON, Portugal-- Portugal's government is putting the finishing touches to a draft budget for next year which is expected to be one of the toughest in the country's recent history. The finance minister has said the spending plan will include an "enormous" increase in taxes as well as further cuts in public services and civil service layoffs.

  • Azerbaijan seeks more scrutiny over BP-led project Monday, 15 Oct 2012 | 3:08 AM ET

    BAKU, Azerbaijan-- Azerbaijan's top energy official urged further scrutiny of the international consortium developing the Caspian Sea nation's main oil field amid mounting irritation at a slump in output.

  • Once star of EU newcomers, Slovenia falters Monday, 15 Oct 2012 | 3:07 AM ET

    LJUBLJANA, Slovenia-- Andrej Plut has always thought he was fortunate to live in Slovenia, at one time the most prosperous of the former republics of Yugoslavia and a star among the eastern European states that joined the EU after the fall of communism.