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Latest Business News Wires - Business Headlines


  • 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.

  • 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: 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.

  • 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.

  • Judge: DC Metro must allow anti-jihad ads Friday, 5 Oct 2012 | 4:51 PM ET

    WASHINGTON-- A federal judge says the D.C. transit system must allow a pro- Israel ad that equates Muslim radicals with savages. District Judge Rosemary Collyer said in a one-page opinion Friday that the advertisement must be displayed no later than 5 p.m. on Monday.

  • FDA fights Web pharmacies selling unapproved drugs Friday, 5 Oct 2012 | 4:44 PM ET

    The FDA has sent warning letters to three companies behind most of the 4,100 websites it identified as illegally selling potentially dangerous, unapproved drugs. "This is a first step," said FDA spokeswoman Sarah Clark-Lynn. " According to the FDA one business, called CanadaDrugs.com, operates 3,710 of the targeted websites.

  • Agreement in place to settle mine pollution case Friday, 5 Oct 2012 | 4:41 PM ET

    Franklin County Circuit Judge Phillip Shepherd still has to approve the deal that requires ICG to pay $575,000 in penalties. Under the agreement, ICG would pay $335,000 to the PRIDE environmental initiative to help stop Kentucky residents from piping sewage directly into streams and $240,000 to the Department for Natural Resources to pay for a water study.

  • News Summary: Hyundai Veloster investigation Friday, 5 Oct 2012 | 4:26 PM ET

    THE INVESTIGATION: The National Highway Traffic Safety Administration is investigating complaints that sunroofs on the Hyundai Veloster can shatter and shower people in the car with glass. THE MODEL: The probe covers about 18,000 of the funky hatchbacks from the 2012 model year.

  • News Summary: Can stocks rise as earnings fall? Friday, 5 Oct 2012 | 4:25 PM ET

    RISING STOCKS, FALLING PROFITS: Stocks are up sharply, despite an expected 1.3 percent fall in third-quarter earnings for companies in the Standard& Poor's 500.. TRIPLE WHAMMY: Corporate earnings are getting hit by slowing economic growth at home and abroad.

  • Can stocks continue to rise as earnings fall? Friday, 5 Oct 2012 | 4:23 PM ET

    NEW YORK-- One type of investor buys stocks when everyone is convinced that corporate earnings will fall. He buys because he thinks they're wrong and earnings will rise instead. Barclays Capital stock strategist Barry Knapp said Thursday, as the Standard& Poor's 500 inched higher yet again. "

  • Montreal off NASCAR's 2013 Nationwide schedule Friday, 5 Oct 2012 | 4:19 PM ET

    NASCAR will not race in Montreal next season after the promoter pulled the plug on the six-year relationship when he couldn't secure a premiere Sprint Cup Series event.

  • Madoff fraud's last days recounted in NYC document Friday, 5 Oct 2012 | 4:19 PM ET

    NEW YORK-- In December 2008, two of Bernard Madoff's most loyal employees met on a Manhattan street corner and fretted over a closely held secret that the rest of the world would learn about eight days later: that their boss was a con man for the ages.

  • At a glance: Oil falls after US job report Friday, 5 Oct 2012 | 4:18 PM ET

    On the New York Mercantile Exchange:. _ Benchmark oil closed down $1.83 to $89.88 per barrel. On the ICE Futures Exchange in London:.