Latest Business News Wires - Business Headlines


  • AIG announces amended 4-year, $4B credit facility Friday, 5 Oct 2012 | 5:45 PM ET

    NEW YORK-- Insurance giant American International Group Inc. said Friday it has agreed on terms of an amended four-year, $4 billion credit facility. Thirty-four banks took part in the facility, with units J.P. Morgan Securities and Citigroup Global Markets acting as leads.

  • Moody's lowers some ratings on Spanish banks Friday, 5 Oct 2012 | 5:42 PM ET

    Spain's banks and government are struggling as the country suffers through its second recession in three years and its overall unemployment rate is at nearly 25 percent.

  • Bond memorabilia goes under hammer in London Friday, 5 Oct 2012 | 5:42 PM ET

    LONDON-- James Bond lovers have spent thousands of pounds for pieces of memorabilia from the spy movies at a London auction. Among the items under the hammer Friday in London was the complete works of Ian Fleming, Bond's creator. A navy, wool Tom Ford suit worn by Daniel Craig in the new Skyfall film due out on Oct. 26 sold for 46,850 pounds.

  • Movers roundup: Glu Mobile, Medicines Co. Friday, 5 Oct 2012 | 5:41 PM ET

    Among the stock activity stories for Friday, Oct. 5, from AP Business News:. _ Shares of Glu Mobile Inc. sold off after Zynga Inc., another online games developer, slashed its guidance. But one analyst says Glu should benefit from Zynga's problem: Gamers' shift from computers to phones.

  • Movers roundup: Informatica, Sunesis Friday, 5 Oct 2012 | 5:38 PM ET

    Among the stock activity stories for Friday, Oct. 5, from AP Business News:. _ Shares of business software maker Informatica Corp. made a small rebound after losing more than 20 percent of their value a day earlier following the company's disappointing third-quarter forecast.

  • Problems found at peanut butter plant in 2010 Friday, 5 Oct 2012 | 5:37 PM ET

    The FDA said Friday that a recent inspection found salmonella in the plant which produced Trader Joe's Valencia Creamy Peanut Butter and many other nut butters and nut products for several large national grocery chains. FDA has found problems at Sunland before.

  • Schmitt Industries promotes Fitzhenry to CEO Friday, 5 Oct 2012 | 5:32 PM ET

    PORTLAND, Ore.-- Schmitt Industries Inc. said Friday that President James Fitzhenry will replace Wayne Case as CEO. Fitzhenry, 57, has been president of the company since June 2009. It reported $14.4 million in revenue in its most recent fiscal year.

  • News Summary: Commodities prices fall broadly Friday, 5 Oct 2012 | 5:29 PM ET

    Crude oil gave up $1.83 to $89.88 per barrel on the New York Mercantile Exchange. Gold for December delivery gave up $15.70 to $1,780.80 an ounce. COFFEE CREAMED: Coffee prices slumped 4 percent, giving up 6.95 cents to settle at $1.6810 per pound.

  • W&T closes purchase of Newfield's Gulf properties Friday, 5 Oct 2012 | 5:27 PM ET

    NEW YORK-- Oil and gas producer Newfield Exploration Co. said Friday that it completed the sale of its Gulf of Mexico exploration and production properties to W&T Offshore Inc.. Newfield shares rose 18 cents to close at $30.54. W&T Offshore fell 34 cents to close at $18.87.

  • Campbell gave new CEO $7.4 million pay package Friday, 5 Oct 2012 | 5:18 PM ET

    NEW YORK-- Campbell Soup CEO Denise Morrison, who is looking to revive the company's fortunes, was given a pay package worth $7.4 million for her first year on the job.

  • US unemployment below 8 pct, first time since 2009 Friday, 5 Oct 2012 | 5:17 PM ET

    WASHINGTON-- The U.S. unemployment rate dropped below 8 percent for the first time since the month President Barack Obama took office, a surprising lift for both the economy and his re-election hopes in the final weeks of the campaign. It fell because a government survey of households found that 873,000 more people had jobs, the biggest jump since January 2003.

  • Celadon says quarter will beat market expectations Friday, 5 Oct 2012 | 5:09 PM ET

    INDIANAPOLIS-- Celadon Group Inc. expects its fiscal first-quarter results will beat market expectations as a result of recent acquisitions and cost-control measures. Celadon expects to earn 34 to 36 cents per share for the quarter that ended Sept. 30.

  • News Summary: Madoff fraud's last days recounted Friday, 5 Oct 2012 | 5:03 PM ET

    FRAUD'S FINALE: A newly rewritten indictment this week has revealed details of the final days of Bernard Madoff's Ponzi scheme, which authorities say cost investors an estimated $17.3 billion.

  • Avon, VeriFone, VeriFone are market movers Friday, 5 Oct 2012 | 5:00 PM ET

    NEW YORK-- Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:. Avon Products Inc., up $1.17 at $17.39. Constellation Brands Inc., up $1.48 at $36.20.

  • Wis. judge says decision in union case delayed Friday, 5 Oct 2012 | 4:58 PM ET

    MADISON, Wis.-- A decision on whether to put on hold a judge's ruling restoring major parts of Wisconsin's collective bargaining law has been delayed. Dane County District Judge Juan Colas on Friday gave those challenging the law passed by Gov.

  • Brazil mining railway line resumes operations Friday, 5 Oct 2012 | 4:58 PM ET

    SAO PAULO-- Brazilian mining giant Vale says its iron ore transport operations have resumed, three days after protesting Indians blocked part of its railroad in northern Brazil.

  • Jazz hall organizers say they will pay $60k debt Friday, 5 Oct 2012 | 4:57 PM ET

    TULSA, Okla.-- Facing eviction, directors at the Oklahoma Jazz Hall of Fame have announced they will finally be able to pay off some $60,000 in bills the organization has owed for months. Friday's statement by the Tulsa nonprofit comes two days ahead of a special meeting set by the county to discuss what to do with the museum.

  • News Summary: Ford Escape inquiry Friday, 5 Oct 2012 | 4:56 PM ET

    THE INQUIRY: U.S. safety regulators are looking into problems with sticky throttles in older Ford Escapes, another safety issue for the trouble-plagued small SUV. If the National Highway Traffic Safety Administration decides to open a formal investigation, it could lead to a recall.

  • Sunesis Pharma rises on cancer drug study details Friday, 5 Oct 2012 | 4:56 PM ET

    NEW YORK-- Shares of Sunesis Pharmaceuticals Inc. rose Friday after the company discussed plans for an upcoming trial of its cancer drug vosaroxin. THE SPARK: Sunesis held a conference call with investors and analysts Thursday and detailed its studies on vosaroxin, an experimental treatment for acute myeloid leukemia.

  • News Summary: Stocks mixed on Friday Friday, 5 Oct 2012 | 4:52 PM ET

    DOW MILESTONE: The Dow's close at 13,610.15 was its highest since December 2007. It's still short of its all-time high of 14,164.53 reached in October 2007. WHAT'S NEXT: Third-quarter corporate earnings start with Alcoa on Tuesday.