Latest Business News Wires - Business Headlines


  • NJ approves portable horse bets, lottery anonymity Thursday, 11 Oct 2012 | 3:00 PM ET

    TRENTON, N.J.-- New Jersey lawmakers have approved bills that allow the use of portable betting devices at horse racing tracks, and allow lottery winners to remain anonymous for a year. A state Senate committee Thursday approved a measure allowing betting on wireless devices at race tracks.

  • News Summary: Wendy's first logo tweak since 1983 Thursday, 11 Oct 2012 | 2:54 PM ET

    PIGTAIL TWEAK: Wendy's Co. is giving its logo a touchup for the first time since 1983. Executives say the pared down, modern look will signal its transformation into a more premium hamburger chain. MAKEOVER HISTORY: The Dublin, Ohio- based chain says it's only the fifth logo update since it opened its first location in 1969..

  • Lawsuit says buyout firms colluded on deals Thursday, 11 Oct 2012 | 2:54 PM ET

    NEW YORK-- Executives at some of the country's largest private equity firms reportedly told each other that they wouldn't drive up prices for companies they were looking to buy, according to new court documents.

  • Algeria to contribute $5B to IMF Thursday, 11 Oct 2012 | 2:44 PM ET

    ALGIERS, Algeria-- Algeria's Finance Ministry and central bank have announced the country is contributing $5 billion to the International Monetary Fund. In April, Algeria said the IMF had asked for Algeria's participation in the international lending institution. Algeria is the third largest supplier of natural gas to Europe after Russia and Norway.

  • OPPD commits insurance payouts to adjust rates Thursday, 11 Oct 2012 | 2:42 PM ET

    OMAHA, Neb.-- The Omaha Public Power District board has committed to using any insurance payouts related to the shutdown at the Fort Calhoun nuclear power plant to adjust customer rates. OPPD spokesman Mike Jones says the insurance is used to ease the financial impact of any outages at the Fort Calhoun plant.

  • Regulator: 'Catastrophic' failure of NMFA controls Thursday, 11 Oct 2012 | 2:41 PM ET

    SANTA FE, N.M.-- The state's top securities regulator says a fake audit at the New Mexico Finance Authority went undetected for months and was distributed to investors because of a complete breakdown of the agency's management and oversight.

  • Report: Authorities build cases in JPMorgan loss Thursday, 11 Oct 2012 | 2:41 PM ET

    NEW YORK-- A published report says federal authorities are using taped phone conversations to build criminal cases connected to the $6 billion trading loss announced by JPMorgan Chase earlier this year. The New York Times reports investigators are focusing on four people who worked for the London team responsible for the loss.

  • Penney's shares rise amid hopeful signs Thursday, 11 Oct 2012 | 2:31 PM ET

    NEW YORK-- Shares of J.C. Penney Co. rose Thursday for the second day in a row, after a key supplier, Levi Strauss& Co., said that its new shops within the retailer's stores are faring well.

  • NYT shares hit new 52-week high on upgrade Thursday, 11 Oct 2012 | 2:30 PM ET

    NEW YORK-- The New York Times Co.' s stock rose on Thursday after an analyst raised his rating and price target on the shares. Barclays analyst Kannan Venkateshwar said the Times Co.' s recent sales of some assets have helped improve its balance sheet, while its online pay wall has generated enough new subscription revenue to offset declining print ad sales.

  • Auditors call for changes in food stamp program Thursday, 11 Oct 2012 | 2:24 PM ET

    HARTFORD, Conn.-- State auditors in Connecticut called for changes Thursday in an emergency food stamp program at the center of a fraud scandal involving state employees, saying more vigilant caseworkers could have reduced the amount of aid handed out to ineligible applicants.

  • Army Corps revises plan to curtail locks Thursday, 11 Oct 2012 | 2:22 PM ET

    MONTGOMERY, Ala.-- The U.S. Army Corps of Engineers has revised its plans to severely curtail the operation of locks on the Alabama and Chattahoochee rivers. Jeff Sessions of Alabama said he's glad the corps modified the plans after public officials from both parties raised concerns about the economic impact.

  • Taking price-comparison apps for a spin Thursday, 11 Oct 2012 | 2:12 PM ET

    NEW YORK-- It's a shopper's nightmare: Buying something, then seeing it cheaper at another store. I have been using Amazon.com Inc.' s price-checking app for about a year now and have always found the prices on the app lower than at a store. But I've never tried other popular apps by Google Inc. and eBay Inc..

  • Glenn Beck's empty SUV crashes down NY hill Thursday, 11 Oct 2012 | 2:07 PM ET

    LODI, N.Y.-- Radio talk show host Glenn Beck's family had a close call when their sport utility vehicle rolled down a steep hill in New York's Finger Lakes region just after they had exited the SUV. They had just arrived at the cottage rented for the daughter's wedding reception last weekend in Lodi, on Seneca Lake.

  • Venezuela's new VP to be key figure for Chavez Thursday, 11 Oct 2012 | 2:06 PM ET

    CARACAS, Venezuela-- A mustachioed former bus driver who rose to become his country's top diplomat has emerged as the vice presidential pick of President Hugo Chavez as the Venezuelan leader prepares to launch a six-year term following two cancer operations.

  • Cargill 1Q profit soars but cautions on drought Thursday, 11 Oct 2012 | 1:58 PM ET

    WAYZATA, Minn.-- Agribusiness company Cargill said on Thursday that its first-quarter profit nearly quadrupled to $975 million. Still, the Minneapolis company said the impact of the U.S. drought and weather in other crop-growing areas such as the Black Sea region "is still unfolding." Revenue fell 2 percent to $33.8 billion from $34.6 billion a year ago.

  • Va. revenues dip in Sept., 3rd decline since June Thursday, 11 Oct 2012 | 1:45 PM ET

    RICHMOND, Va.-- Virginia's general tax collections for September declined, leaving actual revenues behind a budgeted forecast for modest growth one quarter into the state fiscal year. Virginia ended the last fiscal year on June 30 with an unspent balance of $448 million. Corporate taxes were down by 18 percent, to $155 million from $188 million last September.

  • NJ firm planning gas-fueled power plant in Pa. Thursday, 11 Oct 2012 | 1:44 PM ET

    NEW CASTLE, Pa.-- A New Jersey firm has plans to build a 900 megawatt, $750 million natural gas-fired power plant in western Pennsylvania. LS Power, which has offices in East Brunswick, N.J. and St. Louis says the plant in North Beaver Township, Lawrence County, will be fueled from gas drawn from a pipeline out of Tennessee.

  • Carl Icahn plans to offer $3B to buy Oshkosh Thursday, 11 Oct 2012 | 1:33 PM ET

    NEW YORK-- Billionaire investor Carl Icahn plans to make an unsolicited bid for truck maker Oshkosh Corp. that values the company at almost $3 billion. The activist investor said Thursday that he will make a tender offer worth $32.50 per share in cash, a 21 percent premium over Oshkosh's latest closing price.

  • Tom Hanks to make his Broadway debut next year Thursday, 11 Oct 2012 | 1:31 PM ET

    NEW YORK-- Tom Hanks will play a gutsy New York City newspaper columnist when he makes his debut on Broadway in the spring. Previews begin March 1 at the Broadhurst Theatre and an opening night is set for April 1.

  • Japan nuke chief hints no restarts until next year Thursday, 11 Oct 2012 | 1:29 PM ET

    TOKYO-- The head of Japan's new nuclear regulatory agency said Thursday that reactors will not be allowed to restart until they pass seismic inspections and meet new safety standards to be instituted next year.