Latest Business News Wires - Business Headlines


  • Sprint suitor Son stands apart in sober Japan Tuesday, 16 Oct 2012 | 4:30 AM ET

    The unlikely success story of Softbank Corp. President Masayoshi Son has taken another leap with his latest mega-deal, announced Monday, to take a 70 percent stake in U.S. mobile phone carrier Sprint Nextel Corp. for $20 billion.

  • China critic to sell Taiwan media holdings Tuesday, 16 Oct 2012 | 4:12 AM ET

    TAIPEI, Taiwan-- A Hong Kong media magnate highly critical of China is selling one of his Taiwanese companies to a group headed by a local businessman whose family has substantial interests on the mainland.

  • Social Security announces benefit increase Tuesday Tuesday, 16 Oct 2012 | 3:37 AM ET

    WASHINGTON-- More than 56 million Social Security recipients will find out Tuesday how much their monthly payments will go up next year. The increase is tied to a government measure of inflation being released Tuesday morning. Social Security payments for retired workers average $1,237 a month, or about $14,800 a year.

  • In Georgia, where guest is God, tourism thrives Tuesday, 16 Oct 2012 | 3:01 AM ET

    BATUMI, Georgia-- Georgia's Black Sea resort of Batumi was once a bleak site: Roads were dotted with potholes, the city was pitch dark at night, running water was scarce and the city's best hotel was infested with rats.

  • Squirrel population boom frustrates fruit growers Tuesday, 16 Oct 2012 | 2:39 AM ET

    MONTPELIER, Vt.-- Don't let the bright eyes and bushy tails fool you. In southern Vermont, Clarence Boston said he hasn't seen such an infestation of pests in the 33 years he has been an orchardist on 60 farms in five states. This year's squirrel boom in parts of Vermont followed two seasons of bountiful acorn and beechnut crops and last year's mild winter.

  • Russia's Medvedev calls for ban of tobacco ads Tuesday, 16 Oct 2012 | 2:29 AM ET

    MOSCOW-- Russia's Prime Minister Dmitry Medvedev on Tuesday called for a ban on all tobacco ads, as the government prepares a bill that would also phase out smoking in public. World Health Organization says that some 40 percent of Russia's adult population smokes, one of the highest rates in the world.

  • Swiss Roche posts 7 percent rise in 3Q drug sales Tuesday, 16 Oct 2012 | 1:44 AM ET

    GENEVA-- Swiss drugmaker Roche Holding AG on Tuesday reported a 7 percent increase in sales of its pharmaceutical products for the first nine months of 2012, powered by demand for its cancer drugs.

  • Asian stocks gain on stronger US retail sales Tuesday, 16 Oct 2012 | 1:06 AM ET

    Japan's Nikkei 225 index rose 1.3 percent to 8,689.29 and South Korea's Kospi climbed 0.9 percent to 1,941.45. Benchmarks in Taiwan, Singapore, and New Zealand also rose. Toshiba Corp. jumped 2.7 percent and Sony Corp. rose 1.5 percent in Tokyo, where exporters were also aided by a slightly weaker yen.

  • Energy service company building facility in ND Tuesday, 16 Oct 2012 | 12:58 AM ET

    MANDAN, N.D.-- Novaspect Holdings Inc., which supplies and services valves and other flow-control components for the energy industry, is building a facility in Mandan, N.D.. The company expects to have about 30 employees within two years, and an annual payroll of $2.6 million.

  • Missouri adds 2,500 jobs in September Tuesday, 16 Oct 2012 | 12:55 AM ET

    JEFFERSON CITY, Mo.-- Missouri payrolls increased by 2,500 in September as the state's unemployment rate declined to 6.9 percent, the lowest mark since late 2008.. The state Department of Economic Development released the report Tuesday.

  • WD-40 shares drop after quarterly sales disappoint Tuesday, 16 Oct 2012 | 12:51 AM ET

    BOSTON-- Shares of WD-40 Co. tumbled on Tuesday after the maker of spray lubricant and cleaning products reported disappointing quarterly results and a sharp decline in sales to European customers.

  • DreamWorks Animation SKG founders donate $90M Tuesday, 16 Oct 2012 | 12:31 AM ET

    LOS ANGELES-- The founders of the studio behind "Shrek," "Madagascar" and "Kung Fu Panda" are donating $90 million to a Hollywood charity that offers support to seniors and health services for members of the entertainment industry.

  • Glance: A closer look at Mattel's 3Q revenue Tuesday, 16 Oct 2012 | 12:27 AM ET

    Mattel Inc., the largest U.S. toymaker, said Tuesday that its net income rose 22 percent in the third quarter, helped by sales of Fisher Price and Monster High dolls and cost costs. Total quarterly revenue: Up 4 percent to $2.08 billion. _ American Girl: Up 16 percent to $102 million.

  • Booz Allen Hamilton to buy ARINC unit for $154M Tuesday, 16 Oct 2012 | 12:25 AM ET

    MCLEAN, Va.-- Booz Allen Hamilton Holding Corp. is buying ARINC Inc.' s defense systems engineering and support unit for about $154 million in cash. The parent company of consulting firm Booz Allen Hamilton said Tuesday that the division will complement its existing service base.

  • Investors Bancorp closes on Marathon acquisition Tuesday, 16 Oct 2012 | 12:20 AM ET

    SHORT HILLS, N.J.-- Investors Bancorp Inc. has closed on its $135 million acquisition of Marathon Banking. "The addition of Marathon more than doubles our branch network in the New York market and provides opportunities for us to enhance our commercial franchise," Investors Bancorp President and CEO Kevin Cummings said in a statement.

  • News Summary: Merkel defends switch from nuclear Tuesday, 16 Oct 2012 | 12:18 AM ET

    NO NUKES: German Chancellor Angela Merkel defended her government's decision to phase out nuclear power and switch to renewable energies within a decade, but acknowledged the need to speed up the plan. Business leaders have criticized the way the switchover has been managed, saying the costs are spiraling and hurting some companies.

  • News Summary: US industrial output up in September Tuesday, 16 Oct 2012 | 12:16 AM ET

    INDUSTRIAL PRODUCTION: Output at the nation's factories, mines and utilities increased a modest 0.4 percent in September after falling 1.4 percent in August.

  • State Street shares up on 3Q report, expense cuts Tuesday, 16 Oct 2012 | 12:14 AM ET

    BOSTON-- State Street Corp. shares rose on Tuesday after the custody bank's third-quarter earnings topped Wall Street expectations due to expense cutting and growth in investment management revenue. THE SPARK: The Boston- based company reported adjusted earnings of $473 million, or 99 cents per share, on revenue of $2.36 billion.

  • Owner of Einstein Bros. bagel chain warns on 3Q Tuesday, 16 Oct 2012 | 12:14 AM ET

    Einstein Noah Restaurant Group Inc., which is also considering selling itself, said that it expects to report net income of $3.4 million on revenue of $105.5 million for the quarter that ended on Oct. 2. That falls short of the $3.6 million in profit and $108.3 million in revenue that analysts polled by FactSet were expecting.

  • News Summary: Builder confidence at 6-year high Tuesday, 16 Oct 2012 | 12:12 AM ET

    CONFIDENCE BOOST: The National Association of Home Builders/Wells Fargo builder sentiment index increased to 41 in October. That's up from 40 in September and the highest reading since June 2006, just before the housing bubble burst. HEIGHTENED INTEREST: A gauge of traffic by prospective buyers rose 5 points to 35, the highest level since April 2006.