Latest Business News Wires - Business Headlines


  • NHL, union resume talks to try to end lockout Thursday, 11 Oct 2012 | 12:03 AM ET

    NEW YORK-- The NHL and the players' association resumed meetings Thursday to try to end the monthlong lockout. Although it has been a week since the NHL called off the first two weeks of the regular season, that sting will be felt full force Thursday when what should have been opening day passes without a puck hitting the ice.

  • *ABC's Robin Roberts home from hospital Thursday, 11 Oct 2012 | 12:03 AM ET
  • American to continue reducing flights in November Thursday, 11 Oct 2012 | 12:01 AM ET

    FORT WORTH, Texas-- American Airlines says it will cut passenger-carrying capacity by 1 percent in the first half of November as it tries to recover from widespread delays and a spike in cancelations. American said Thursday that the pullback will give it more time to return to normal operations without affecting holiday travel.

  • Asia stocks fall after Spain gets downgrade Wednesday, 10 Oct 2012 | 11:05 PM ET

    BANGKOK-- Asian stock markets fell Thursday after Spain, the fourth-largest euro economy, was slapped with a two-notch credit downgrade and the U.S. earnings season opened with a whimper.

  • SKorea cuts key rate, lowers growth forecasts Wednesday, 10 Oct 2012 | 10:51 PM ET

    SEOUL, South Korea-- South Korea's central bank cut its key interest rate Thursday for the second time this year and slashed growth forecasts as Asia's fourth-largest economy faces mounting threats from the protracted debt crisis in Europe and a worsening global slowdown.

  • IMF chief urges action in tackling euro crisis Wednesday, 10 Oct 2012 | 10:11 PM ET

    TOKYO-- The head of the International Monetary Fund on Thursday called for urgent action to tackle Europe's debt problems and an approaching fiscal crisis in the U.S., warning that the struggling world economy is already falling short of even pessimistic expectations.

  • SKorea cuts benchmark rate for 2nd time this year Wednesday, 10 Oct 2012 | 9:17 PM ET

    SEOUL, South Korea-- South Korea's central bank trimmed the key interest rate Thursday for a second time this year, as Asia's fourth-largest economy faces mounting threats from the protracted debt crisis in Europe and the slowing growth in the world economy.

  • News Summary: Wal-Mart unveils strategies Wednesday, 10 Oct 2012 | 9:06 PM ET

    WAL-MART'S MESSAGE: Wal-Mart executives told analysts that they expect the retailer to keep the growing coming even as it becomes more disciplined in its spending on new stores.

  • Federal judge takes case under advisement Wednesday, 10 Oct 2012 | 8:11 PM ET

    SPOKANE, Wash.-- A federal judge in Yakima will decide whether a Canadian mining company must pay to clean up pollution that for decades crossed the border into Lake Roosevelt in Washington. U.S. District Court Judge Lonny Suko heard motions on the lawsuit Wednesday and said he will issue a decision later this year.

  • South Korean ban on NW potatoes partially lifted Wednesday, 10 Oct 2012 | 7:49 PM ET

    OLYMPIA, Wash.-- South Korea has lifted a ban against Pacific Northwest- grown potatoes used for things like potato chips, but a ban on other fresh potatoes still remains because of a fear over a bacterium known as zebra chip, state officials announced Wednesday during a phone conference from Gov.

  • Oakland goes to court for embattled pot dispensary Wednesday, 10 Oct 2012 | 7:45 PM ET

    SAN FRANCISCO-- An Oakland medical marijuana dispensary that bills itself as the world's largest gained an unusual ally Wednesday in its fight to stop federal prosecutors from shutting it down: the city government.

  • Kodak asks court to end retiree medical benefits Wednesday, 10 Oct 2012 | 7:17 PM ET

    ROCHESTER, N.Y.-- Eastman Kodak Co. said Wednesday it has asked a bankruptcy court judge to allow it to end retiree medical and some other benefits at the end of the year as part of its restructuring.

  • S&P cuts Spain's rating to lowest investment grade Wednesday, 10 Oct 2012 | 7:08 PM ET

    NEW YORK-- Standard& Poor's downgraded its rating on Spain's debt Wednesday by two notches, leaving it on the cusp of junk status. S&P also assigned a negative outlook to the rating, saying it could be further downgraded if Spain's economic conditions erode further.

  • Multi-day pass rentals headache for Disneyland Wednesday, 10 Oct 2012 | 7:07 PM ET

    ANAHEIM, Calif.-- An increasing number of tourists are finding a way to save $40 or more on day passes to California's Disney theme parks by "renting" one day of a multi-day park hopper pass _ and the practice is giving Disneyland a run for its money.

  • Suit: Firm provided tainted meds in 2002, man died Wednesday, 10 Oct 2012 | 6:50 PM ET

    Officials have identified Framingham, Mass., based-New England Compounding Center as the source of steroid shots suspected in the outbreak of rare fungal meningitis that has killed at least 12 people and made more than 130 others sick.

  • News Summary: Fed says housing lifts growth Wednesday, 10 Oct 2012 | 6:15 PM ET

    REGIONS STRONGER: The Federal Reserve's survey of business conditions around the country found that stronger housing markets had given a boost to economic growth in nearly every region of the country at the end of the summer.

  • California gas prices drop by a half-penny Wednesday, 10 Oct 2012 | 6:09 PM ET

    LOS ANGELES-- California gas prices dipped a half-penny Wednesday, the first drop after a week that saw prices surge a record 50 cents. Gas prices rose more than 50 cents a gallon between Oct. 1 and Oct. 8, from $4.168 to a record $4.671, the largest one-week price spike in California history, AAA spokesman Avery Ash said.

  • 2 dead, 1 trapped in Fla. parking garage collapse Wednesday, 10 Oct 2012 | 6:04 PM ET

    MIAMI-- A section of a parking garage under construction at a community college collapsed Wednesday, killing two people and trapping two others in the rubble, officials said. At least 10 other workers were hurt when the roof of the five-story concrete garage fell, creating a pancake-style collapse on the campus of Miami-Dade College, officials said.

  • S&P cuts Spain rating to lowest investment grade Wednesday, 10 Oct 2012 | 5:59 PM ET

    NEW YORK-- Standard& Poor's is downgrading Spain's credit rating two notches to agency's lowest investment-grade level. S&P cited Spain's economic recession, high unemployment and social unrest. Spain's economy is shrinking and its banks are struggling under the weight of a collapsed real-estate market.

  • Hawaii hotel rates hit all-time high in August Wednesday, 10 Oct 2012 | 5:55 PM ET

    HONOLULU-- Average hotel room prices hit an all-time high in Hawaii in August as tourist spending rose and visits from Japan, Korea, China and other markets spiked, a tourism analysis firm said Wednesday.