Latest Business News Wires - Business Headlines


  • US futures mixed as earnings season begins Wednesday, 10 Oct 2012 | 8:25 AM ET

    Stocks are under pressure due to a forecast from the International Monetary Fund on Tuesday, which said that the global economy continues to weaken and that the recession in Europe could extend to developing nations. Shares of Alcoa are lower Wednesday after the aluminum maker cut its demand expectations for the year, largely because of a slowdown in China.

  • Minn. corn, soybean harvests outpace 2011 Wednesday, 10 Oct 2012 | 8:25 AM ET

    ST. PAUL, Minn.-- Minnesota's corn and soybean harvests are advancing well ahead of last year's pace as well as the five-year averages. In its weekly crop progress report, the U.S. Department of Agriculture said Tuesday that 95 percent of Minnesota's soybean crop was harvested by Sunday, compared with 69 percent last year and a 55 percent average.

  • Italy cuts income tax to ease austerity pain Wednesday, 10 Oct 2012 | 8:12 AM ET

    ROME-- Italian Premier Mario Monti's government has announced a cut in income taxes for low wage earners, an unexpected move aimed at easing the pain of austerity measures being enforced to reduce public debt.

  • *Spirit Airlines opening crew base at DFW airport Wednesday, 10 Oct 2012 | 8:09 AM ET
  • Proposed BAE-EADS merger called off Wednesday, 10 Oct 2012 | 8:09 AM ET

    LONDON-- British defense contractor BAE Systems PLC and its European counterpart EADS NV on Wednesday abandoned a proposed merger that would have created a global defense and aerospace giant.

  • *True Religion considering a possible sale Wednesday, 10 Oct 2012 | 7:45 AM ET
  • Toshiba raises stake in Westinghouse Wednesday, 10 Oct 2012 | 7:34 AM ET

    TOKYO-- Toshiba Corp. is raising its stake in U.S. nuclear power unit Westinghouse Electric despite uncertainty about the future of the technology in Japan after the nuclear disaster in Fukushima.

  • Airline passenger charged in Houston heroin case Wednesday, 10 Oct 2012 | 7:24 AM ET

    HOUSTON-- An airline passenger who says she's a law school student from Mexico has been arrested in a Texas heroin smuggling case. Federal prosecutors in Houston on Tuesday announced the arrest of 21- year-old Yessica Chanel Cabanillas-Torres, who remains in custody pending a detention hearing.

  • Host Hotels & Resorts 3Q FFO improves, rates climb Wednesday, 10 Oct 2012 | 7:20 AM ET

    BETHESDA, Md.-- Room rates continued to climb during Host Hotels& Resorts' third quarter and occupancy improved as the lodging real estate investment trust's funds from operations climbed 12 percent. Funds from operations rose to $127 million, or 17 cents per share, for the period ended Sept. 7.

  • China auto sales fall as Japanese brands shunned Wednesday, 10 Oct 2012 | 7:16 AM ET

    BEIJING-- China's auto sales shrank in September as a territorial dispute with Tokyo prompted buyers to avoid Japanese brands, hurting already weakening demand. In September, sales of Japanese vehicles plunged as the dispute between Beijing and Tokyo over a group of uninhabited islands in the East China Sea prompted buyers to avoid Japanese showrooms.

  • Gov't warns motorists about counterfeit air bags Wednesday, 10 Oct 2012 | 7:13 AM ET

    WASHINGTON-- Car owners whose air bags have been replaced in the past three years may have had dangerous counterfeit bags installed, the Obama administration warned Wednesday.

  • Danaher, Cooper to sell tool making JV for $1.6B Wednesday, 10 Oct 2012 | 6:55 AM ET

    Danaher Corp. and Cooper Industries said Wednesday that they will sell a tool making business they created two years ago as a joint venture for about $1.6 billion to private equity firm Bain Capital.

  • Costco's 4Q results top Wall Street's view Wednesday, 10 Oct 2012 | 6:47 AM ET

    ISSAQUAH, Wash.-- Shoppers continue to head to Costco in search of deals, helping the wholesale club operator's fiscal fourth-quarter net income and revenue climb. Consumers have been drawn to stores like Costco, BJ's Wholesale Club and Sam's Club because they feel like they are getting bargains by purchasing items in bulk.

  • Industry group cuts India car sales forecast Wednesday, 10 Oct 2012 | 6:44 AM ET

    MUMBAI, India-- Car sales in India may grow just 1 percent this fiscal year, down from a July forecast of around 10 percent as the economy falters, the Society of Indian Automobile Manufacturers said Wednesday. India's rural economy has been a bulwark of strong consumption amid global uncertainty.

  • Interest rates rise at Italian bond sale Wednesday, 10 Oct 2012 | 6:25 AM ET

    ROME-- Italy raised 11 billion in a pair of short term auctions but had to pay slightly higher interest rates to get investors to part with their cash. Over recent weeks, Italy has not been a primary focus in Europe's debt crisis.

  • Markets subdued on global growth concerns Wednesday, 10 Oct 2012 | 6:24 AM ET

    Alcoa kicked off the latest round with a warning that demand for aluminum was lower than anticipated largely because of a slowdown in China. Alcoa's warning about global demand came as the International Monetary Fund lowered its global growth forecast for this year to 3.3 percent from the previous estimate of 3.5 percent.

  • Could pepperoni spoil presidential debate? Wednesday, 10 Oct 2012 | 6:14 AM ET

    Pizza Hut is offering a lifetime of free pizza _ one large pie a week for 30 years _ or a check for $15,600 to anyone who poses the question to either President Barack Obama or Republican candidate Mitt Romney during the live Town Hall- style debate next Tuesday.

  • Iraq says oil production can be doubled by 2015 Wednesday, 10 Oct 2012 | 5:44 AM ET

    BAGHDAD-- Iraq's top energy official is predicting that the country's current oil production of 3.4 million barrels per day will double by 2015.. Deputy Prime Minister Hussein al-Shahristani on Wednesday also said Iraq's long term target is to produce up to 10 million barrels of oil daily by 2020..

  • World stocks fall on US earnings worries, Spain Wednesday, 10 Oct 2012 | 5:11 AM ET

    Britain's FTSE 100 fell 0.3 percent to 5,792.95. Stock markets in Asia also posted losses, with the exception of mainland China, where shares rose a day after posting big gains on hopes that Chinese authorities were preparing sizeable steps to help reverse the decline in growth in the world's second-largest economy.

  • Iranian minister trying to woo Indian businesses Wednesday, 10 Oct 2012 | 4:01 AM ET

    NEW DELHI-- As Western sanctions squeeze Iran and its currency tumbles, the country's energy minister worked Wednesday to woo Indian businesses to invest in the beleaguered Iranian economy. The United States and the European Union have imposed sanctions on Iran to deter it from pursuing a nuclear weapons program.