Latest Business News Wires - Business Headlines


  • Market lukewarm over Spain austerity measures Monday, 1 Oct 2012 | 4:35 AM ET

    MADRID-- Investors are giving a lukewarm welcome to Spain's new austerity measures and bank stress test results aimed at convincing Europe Union authorities that Madrid is serious about managing its finances. The interest rate for benchmark 10- year-bonds edged down 0.16 percentage points to 5. 83 percent Monday while Madrid's IBEX index was up 0.7 percent.

  • Airlines' profit outlook recovering Monday, 1 Oct 2012 | 4:33 AM ET

    BERLIN-- The outlook for the airline industry is improving, with profits expected to reach $4.1 billion this year and $7.5 billion in 2013, the International Air Transport Association said Monday. Tyler blamed Europe's economic crisis, oil prices averaging $110 a barrel, weak cargo demand and low business confidence for the slowdown.

  • Medicare fines over hospitals' readmitted patients Monday, 1 Oct 2012 | 4:27 AM ET

    As of Monday, Medicare will start fining hospitals that have too many patients readmitted within 30 days of discharge due to complications. About two-thirds of the hospitals serving Medicare patients, or some 2,200 facilities, will be hit with penalties averaging around $125,000 per facility this coming year, according to government estimates.

  • Chamber launches voter mobilization effort Monday, 1 Oct 2012 | 4:07 AM ET

    WASHINGTON-- The U.S. Chamber of Commerce, which has spent tens of millions of dollars on television ads to help boost Republican congressional candidates, launched an extensive effort on Monday to mobilize voters. It also will include information on House and Senate races and a comparison of the candidates on the issues.

  • Greek gov't to submit draft budget to parliament Monday, 1 Oct 2012 | 3:58 AM ET

    ATHENS, Greece-- Greece's finance minister will submit the 2013 draft budget to Parliament on Monday, as the government resumed negotiations with international creditors over a two-year additional austerity package.

  • Xstrata board recommends Glencore merger Monday, 1 Oct 2012 | 3:42 AM ET

    LONDON-- The board of Anglo-Swiss mining company Xstrata PLC said Monday it is recommending shareholders accept merger terms with Swiss commodities trader Glencore PLC _ a deal that would create an industry behemoth with revenues of around $175 billion. Xstrata said in a statement it was supporting the offer of 3.05 Glencore shares for each Xstrata share.

  • Greece's Alpha in talks with Credit Agricole Monday, 1 Oct 2012 | 3:34 AM ET

    ATHENS, Greece-- Greece's Alpha Bank said Monday it is in talks with France's Credit Agricole to buy its Greek unit Emporiki Bank.

  • Airlines group lifts 2012 profit outlook to $4.1B Monday, 1 Oct 2012 | 3:30 AM ET

    BERLIN-- The airline industry has raised its projected profits to $4.1 billion this year from its previous estimate of $3 billion. The International Air Transport Association blames Europe's economic crisis, high oil prices and low business confidence for the drop from an industry profit of $8.4 billion in 2011..

  • Nippon Steel, Sumitomo Metal join to become No. 2 Monday, 1 Oct 2012 | 3:23 AM ET

    TOKYO-- Japan's largest steelmaker, Nippon Steel Corp., has joined with Sumitomo Metal Corp. to form the world's second-biggest steel maker.

  • Oil falls as gloom pervades economic outlook Monday, 1 Oct 2012 | 1:43 AM ET

    Benchmark oil for November delivery was down 12 cents to $92.07 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. Brent crude was down 21 cents to $112.18 on the ICE Futures exchange in London.

  • Asian stocks quiet amid holidays; Nikkei declines Monday, 1 Oct 2012 | 1:21 AM ET

    BANGKOK-- Japan's benchmark Nikkei 225 index fell Monday after a closely watched survey showed confidence in the economy weakening. Toyota Motor Corp. lost 2.3 percent and Nishimatsu Construction Co. slid 4.2 percent. Stan Shamu of IG Markets in Melbourne, Australia said that investors are still concerned about Spain's financial health.

  • Dislodged seats force emergency landing at JFK Monday, 1 Oct 2012 | 12:56 AM ET

    NEW YORK-- American Airlines says a Boston to Miami flight had to make an emergency landing at JFK airport over the weekend due to a row of dislodged seats. The unit of AMR Corp. said in a statement that passengers in the affected row were moved to three other seats. Passengers aboard the flight were placed on another aircraft for the trip to Miami.

  • *Haitians ignore gov't ban on plastic bags Monday, 1 Oct 2012 | 12:56 AM ET
  • *Locked out Minnesota Orchestra cancels concerts Monday, 1 Oct 2012 | 12:55 AM ET
  • *John Lennon drawings coming to NYC gallery Monday, 1 Oct 2012 | 12:54 AM ET
  • McCartney's "everyday" show: gilded venue, celebs Monday, 1 Oct 2012 | 12:52 AM ET

    That's how Stella McCartney, backstage, describes her fresh, optimistic and relaxed spring-summer outing.

  • Kentucky spreads word about offer of tax amnesty Monday, 1 Oct 2012 | 12:52 AM ET

    FRANKFORT, Ky.-- Kentucky could generate more than $60 million through an amnesty offer that allows delinquent taxpayers to avoid financial penalties and prosecution if they pay up within the next two months. Kentucky has a list of nearly 170,000 people and businesses behind on their tax payments.

  • Amex paying $112.5M in late-fee settlements Monday, 1 Oct 2012 | 12:51 AM ET

    WASHINGTON-- American Express Co. is paying $112.5 million in refunds and fines to settle regulators' accusations that it charged unlawful late fees and deceived customers to pressure them to pay off old debts or buy extra credit card services. American Express is refunding $85 million to about 250,000 customers and is paying $27.5 million in civil fines.

  • Chicago locks in 2 major trade shows at McCormick Monday, 1 Oct 2012 | 12:51 AM ET

    CHICAGO-- Two major trade shows have extended their commitments to Chicago's mammoth McCormick Place.

  • Ryder Cup final-day TV ratings best since 1999 Monday, 1 Oct 2012 | 12:50 AM ET

    NEW YORK-- The Ryder Cup's final day has drawn its highest preliminary television rating since the last big comeback 13 years ago. Sunday's coverage on NBC earned a 4.1 overnight rating and 9 share. NBC is controlled by Comcast Corp..

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