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Latest Business News Wires - Business Headlines


  • SC Ag Dept focusing on food safety Tuesday, 16 Oct 2012 | 10:03 AM ET

    COLUMBIA, S.C.-- South Carolina officials have hired someone to keep an eye on food safety across the state. The South Carolina Department of Agriculture announced last week that Weatherly Thomas had been hired to serve as its statewide food safety coordinator.

  • US homebuilder confidence at 6-year high Tuesday, 16 Oct 2012 | 10:02 AM ET

    LOS ANGELES-- Confidence among U.S. homebuilders remains at its highest level in six years, reflecting improved optimism over the strengthening housing market this year and a pickup in visits by prospective buyers to builders' communities.

  • GM to start producing electric Cadillac in 2013 Tuesday, 16 Oct 2012 | 10:02 AM ET

    DETROIT-- General Motors says production is set to begin late next year on a luxury version of its Chevrolet Volt hybrid. The automaker said Tuesday the Cadillac ELR will be assembled at the Detroit-Hamtramck Assembly plant.

  • NH AG: bank breach could affect 43,750 in NH Tuesday, 16 Oct 2012 | 10:02 AM ET

    CONCORD, N.H.-- The New Hampshire attorney general's office says it's been notified that TD Bank's potential data breach could affect 43,750 customers in New Hampshire. TD Bank says it's monitoring the situation. TD Bank has eight million customers.

  • Omnicom 3rd-quarter earnings, revenue nearly flat Tuesday, 16 Oct 2012 | 10:01 AM ET

    NEW YORK-- Advertising and marketing company Omnicom Group Inc. reported nearly flat earnings and revenue compared with a year earlier, as U.S. revenue grew but international revenue declined. Omnicom had fewer outstanding shares in the latest quarter, which increases earnings per share. He rates Omnicom "Hold" with a target price of $45.

  • HCA Holdings 3Q results slightly below Street Tuesday, 16 Oct 2012 | 9:56 AM ET

    NASHVILLE, Tenn.-- Hospital company HCA Holdings released preliminary third-quarter results Tuesday that came in slightly below Wall Street's expectations. HCA Holdings Inc. expects quarterly earnings of 78 cents per share on revenue of about $8.06 billion. HCA Holdings, based in Nashville, Tenn., will report its third-quarter financial results on Nov. 1.

  • Gap announces management restructuring Tuesday, 16 Oct 2012 | 9:52 AM ET

    The change will put the North American, international, online, outlet and franchise divisions under a single global executive for each of the company's brands _ Gap, Banana Republic and Old Navy.

  • Battery maker A123 files for bankruptcy protection Tuesday, 16 Oct 2012 | 9:52 AM ET

    DETROIT-- After years of struggling in the nascent market for electric cars, battery maker A123 Systems Inc. filed for bankruptcy protection Tuesday. The filing drew criticism from Republicans who claim the Obama administration has wasted millions of taxpayer dollars on alternative energy companies like A123.

  • Stocks open higher on Wall Street; Mattel jumps Tuesday, 16 Oct 2012 | 9:48 AM ET

    Toy maker Mattel jumped 4 percent after reporting that brisk sales of American Girl dolls and Fisher-Price toys sent the company's profit well above analysts' forecasts. The stock was up $1.20 to $36.62. Johnson& Johnson rose 93 cents to $59.63 after its revenues came in ahead of Wall Street's forecasts.

  • Text of memo from Citi incoming CEO Tuesday, 16 Oct 2012 | 9:47 AM ET

    Text of a memo sent to Citigroup employees Tuesday by incoming CEO Michael Corbat:. Together with our talented employees around the world, I am confident that we can realize Citi's full potential while serving clients and creating rewarding new opportunities for our employees.

  • State Street 3rd-qtr profit rises, revenue slips Tuesday, 16 Oct 2012 | 9:45 AM ET

    BOSTON-- State Street Corp., one of the largest custody banks in the U.S., reported higher net income but a slight revenue decline on Tuesday, saying that while equity markets have improved, its clients are still conservative in their investments.

  • Citi CEO to workers: 'Couldn't be more optimistic' Tuesday, 16 Oct 2012 | 9:37 AM ET

    Text of a memo sent Tuesday to Citigroup's 262,000 employees by Vikram Pandit, who resigned as CEO:. After five extraordinary years, I have decided to step down as CEO of Citi. It has been a privilege and an honor to serve Citi since December 7, 2007.

  • NPS shares halted as FDA panel reviews bowel drug Tuesday, 16 Oct 2012 | 9:37 AM ET

    NEW YORK-- Trading of NPS Pharmaceuticals Inc. shares was halted Tuesday as a Food and Drug Administration advisory panel began discussing NPS' experimental bowel drug Gattex. NPS will discuss Gattex with the FDA's Gastrointestinal Drugs Advisory Committee. NPS Pharmaceuticals shares trade on the Nasdaq Global Market.

  • Mass. tightens spending after revenue misses mark Tuesday, 16 Oct 2012 | 9:33 AM ET

    Deval Patrick's administration on Monday ordered tighter controls on state spending and hiring but opted not to revise its revenue estimate for the current fiscal year in the face of lagging tax collections.

  • Entergy nuke plant hearings start with tech talk Tuesday, 16 Oct 2012 | 9:32 AM ET

    TARRYTOWN, N.Y.-- A federal hearing that could decide the future of an Entergy Corp. nuclear plant in the New York City suburbs began Monday on a less-than-dramatic note. The hearing was dominated by a highly technical discussion about how to predict where corrosion might occur in the miles of piping at the Indian Point nuclear plant.

  • Ala. gov outlines retirement incentive proposal Tuesday, 16 Oct 2012 | 9:28 AM ET

    He said it would either pay 100 percent of monthly premiums for health insurance for five years or offer $15,000 in cash payments in two $7,500 installments. He said the program would help retiring workers while also saving taxpayers between $18 million and $26 million a year.

  • Grainger 3Q profit falls 15 pct, misses Street Tuesday, 16 Oct 2012 | 9:25 AM ET

    CHICAGO-- W.W. Grainger Inc., which sells power tools and other industrial equipment, said Tuesday that its third-quarter net income fell 15 percent, in part because it set aside money for an anticipated settlement related to some government contracts.

  • *United Tech selling power systems unit for $400M Tuesday, 16 Oct 2012 | 9:23 AM ET
  • Merkel defends costly switch out of nuclear power Tuesday, 16 Oct 2012 | 9:20 AM ET

    BERLIN-- German Chancellor Angela Merkel on Tuesday defended her government's decision to phase out nuclear power and switch to renewable energies within a decade, but acknowledged the need to overhaul and speed up the transition plan.

  • US industrial output rises but factories stay weak Tuesday, 16 Oct 2012 | 9:18 AM ET

    WASHINGTON-- U.S. industrial production increased only modestly in September, held back by weak growth in factory output. That followed a 1.4 percent decline in August, which partly reflected precautionary shutdowns before Hurricane Isaac hit the Gulf Coast.