Latest Business News Wires - Business Headlines


  • Thailand extends expensive rice subsidy scheme Tuesday, 2 Oct 2012 | 8:00 AM ET

    BANGKOK-- The Thai Cabinet has extended a rice-buying scheme that has been plagued by complaints of corruption and threatens the country's long-time reign as the world's top rice exporter. But critics said it had caused a plunge in Thailand's rice exports due to the high price guarantee at home.

  • Germany growth lower than thought, thinktank says Tuesday, 2 Oct 2012 | 7:40 AM ET

    BERLIN-- A leading German economic thinktank is lowering its growth forecasts for the country this year and next in light of the debt problems afflicting a number of euro countries.

  • *Zumiez key revenue metric up 5.6 pct. in Sept. Tuesday, 2 Oct 2012 | 7:36 AM ET
  • BNY Mellon buys remaining stake of WestLB venture Tuesday, 2 Oct 2012 | 7:24 AM ET

    NEW YORK-- Financial services company BNY Mellon has purchased the 50 percent stake of WestLB Mellon Asset Management that it doesn't already own from joint venture partner Portigon. "Germany has one of the most sophisticated investment industries globally, and is a key strategic priority for BNY Mellon.

  • Israeli budget rifts could lead to early polls Tuesday, 2 Oct 2012 | 7:18 AM ET

    JERUSALEM-- Israel's prime minister held the prospect of early elections over the heads of his coalition partners Tuesday, opening a drive to get his budget approved, a campaign that could have foreign policy implications.

  • Ahead of the Bell: Kraft, Mondelez to trade Tuesday, 2 Oct 2012 | 6:44 AM ET

    NEW YORK-- Kraft Foods Group and Mondelez International are set to begin trading as two separate public companies on Tuesday. Scott Mushkin of Jefferies started coverage of Kraft Foods Group Inc. with a "Buy" rating and $50 price target. Citi Investment Research's David Driscoll gave Kraft Foods Group a "Neutral" rating and $48 price target.

  • Regis completes sale of Provalliance stake Tuesday, 2 Oct 2012 | 6:42 AM ET

    Regis also announced in July that it is selling hair replacement services provider Hair Club for Men and Women to Japan's Aderans Co. for $163.5 million in cash. Aderans, based in Tokyo, offers hair replacement and restoration products and services.

  • US hopes buoy markets despite Spain uncertainties Tuesday, 2 Oct 2012 | 6:41 AM ET

    LONDON-- Surprise good news from the U.S. continued to shore up financial markets Tuesday despite concerns about the economic outlook of both Greece and Spain. "The ISM rose above the critical 50 mark in a surprise move yesterday thus creating a jamboree of good sentiment," said Carolin Hecht, an analyst at Commerzbank.

  • Failed rescue of Romania chemical co draws protest Tuesday, 2 Oct 2012 | 6:26 AM ET

    BUCHAREST, Romania-- Hundreds of workers have protested at a Romanian chemical plant after the government scrapped the sale of the debt-ridden company, saying the prospective buyer had failed to prove he could pay.

  • Report wants Europe's banks to wall off risky ops Tuesday, 2 Oct 2012 | 6:21 AM ET

    BRUSSELS-- Europe's banks should create a firewall between their traditional retail banking operations and more risky investment banking ones and force executives to personally take losses when their banks fail, a new expert report suggested Tuesday. Ireland has already gone bankrupt rescuing its banking sector, and Spain could, too.

  • 6 crew arrested in deadly Hong Kong boat collision Tuesday, 2 Oct 2012 | 6:15 AM ET

    HONG KONG-- Hong Kong police on Tuesday arrested six crew members from two boats in a collision that killed 38 holiday revelers, but offered no theory about how the vessels ran into each other on a clear night in one of the safest and most regulated waterways in Asia.

  • Oil approaches $93 after US manufacturing improves Tuesday, 2 Oct 2012 | 5:48 AM ET

    BANGKOK-- The price of oil approached $93 a barrel Tuesday in Asia after a report showed U.S. manufacturing rose in September for the first time in four months. Benchmark oil for November delivery was up 21 cents to $92.69 a barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange.

  • Stocks muted as US manufacturing, Spain weighed Tuesday, 2 Oct 2012 | 5:29 AM ET

    BANGKOK-- World stock markets lost momentum Tuesday as investors weighed an improvement in U.S. manufacturing against the possibility Spain's government debt will be downgraded to junk status. Britain's FTSE 100 fell 0.3 percent to 5,806.11. In Asia, Japan's Nikkei 225 index shed morning gains to close 0.1 percent lower at 8,786.05.

  • Spain's registered jobless ticks up in September Tuesday, 2 Oct 2012 | 3:29 AM ET

    MADRID-- The number of people registered as unemployed in Spain rose by a little under 80,000 people to 4.71 million in September as the summer tourism season came to an end and businesses let workers go, the Labor Ministry said Tuesday.

  • *Myanmar gets its first investment bank Tuesday, 2 Oct 2012 | 3:17 AM ET
  • Portugal scraps rent controls, alarms low-earners Tuesday, 2 Oct 2012 | 2:59 AM ET

    LISBON, Portugal-- The peaceful retirement of Teresa Dourado is about to be shattered. The 77- year-old widow raised two children with her husband in their fourth-floor apartment behind Lisbon's Campo Pequeno bull-ring.

  • Hong Kong mogul sells loss-making Taiwan TV arm Tuesday, 2 Oct 2012 | 1:22 AM ET

    TAIPEI, Taiwan-- Hong Kong media mogul Jimmy Lai announced Tuesday he will sell his prized Taiwan television business, best known for its fanciful animated takes on political and celebrity scandals, because of big financial losses.

  • Australia lowers key interest rate to 3.25 percent Tuesday, 2 Oct 2012 | 1:15 AM ET

    SYDNEY-- Australia's central bank cut its benchmark interest rate by a quarter percentage point Tuesday as a slowdown in China's economy and persistent weakness in Europe adds to uncertainty about Australia's economic outlook.

  • India's Kingfisher halts flights for 3 days Tuesday, 2 Oct 2012 | 1:10 AM ET

    MUMBAI, India-- Kingfisher Airlines has grounded flights for at least three days after a violent strike over unpaid wages at the cash-strapped Indian carrier. Chief executive Sanjay Aggarwal met with India's airline regulator Tuesday. Aggarwal said half of Kingfisher's employees received their salary for March 2012, though he forfeited his.

  • Oil near $92 after US manufacturing improves Tuesday, 2 Oct 2012 | 1:05 AM ET

    BANGKOK-- Oil prices dwelled near $92 a barrel Tuesday in Asia after a report showed U.S. manufacturing rose in September for the first time in four months. Benchmark oil for November delivery was down 17 cents to $92.31 a barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange.