Latest Business News Wires - Business Headlines


  • News Summary: Corn jumps on small harvest estimate Thursday, 11 Oct 2012 | 3:48 PM ET

    POPPING CORN: Corn jumped 5 percent after the government predicted that the U.S. harvest will produce about 10.7 billion bushels, which would be the smallest in six years. SUPPLY QUESTIONS: Oil rose on questions about whether supplies from the Middle East could be disrupted by tensions between Turkey and Syria.

  • Corn soars on estimate of small harvest Thursday, 11 Oct 2012 | 3:47 PM ET

    Corn for December delivery rose 36.5 cents to finish at $7.7325 per bushel. The U.S. Agriculture Department predicted that the corn harvest would total about 10.7 billion bushels, which would be the smallest since 2006. The yield was forecast at an average of 122 bushels per acre, which would be the lowest since 1995..

  • *Stocks flat after encouraging jobs news Thursday, 11 Oct 2012 | 3:46 PM ET
  • News Summary: US unemployment claims fall to 339K Thursday, 11 Oct 2012 | 3:44 PM ET

    APPLICATIONS TUMBLE: The number of Americans seeking unemployment aid plummeted last week to a seasonally adjusted 339,000. It was the lowest level in more than four years. VOLATILE WEEK: A Labor Department spokesman cautioned that weekly applications can be volatile at the start of the quarter and one large state accounted for much of the decline.

  • Grains futures rose, livestock prices fall Thursday, 11 Oct 2012 | 3:30 PM ET
  • Idaho education reform foes outraise supporters Thursday, 11 Oct 2012 | 3:25 PM ET

    BOISE, Idaho-- Foes of proposed education reforms in Idaho easily outraised those promoting the measures ahead of a Nov. 6 vote that will determine if the changes survive. The group Vote No on Propositions 1, 2, 3 added $1.3 million through Sept. 30, compared with just $164,857 for the group Yes for Education, according to the Idaho secretary of state's office.

  • Federal judge awards $6.6M to music publishers Thursday, 11 Oct 2012 | 3:23 PM ET

    LOS ANGELES-- A federal judge in Los Angeles has awarded $6.6 million to several music publishers in a copyright lawsuit over lyrics from such songs as David Bowie's "China Girl" being posted online without a license.

  • News Summary: Carl Icahn to offer $3B for Oshkosh Thursday, 11 Oct 2012 | 3:19 PM ET

    SEEKS CONTROL: Billionaire investor Carl Icahn plans to make an unsolicited bid for truck maker Oshkosh Corp. that values the company at almost $3 billion. Icahn also plans to nominate his own slate of directors in a bid for control of the company.

  • Dollar falls after strong US jobs data Thursday, 11 Oct 2012 | 3:19 PM ET

    The Labor Department said Thursday that claims fell to 339,000 last week, the lowest since February 2008. The euro rose to $1.2929 late Thursday from $1.2897 late Wednesday. The dollar fell to 0.9347 Swiss franc from 0.9385 Swiss franc and to 97.89 Canadian cents from 98.08 Canadian cents.

  • Court sides with Samsung in dispute with Apple Thursday, 11 Oct 2012 | 3:10 PM ET

    SAN JOSE, Calif.-- A federal appeals court has sided with Samsung Electronics Corp. in one aspect of its ongoing patent dispute with Apple Inc.. The Washington, D.C.- based U.S. Court of Appeals for the Federal Circuit on Thursday overturned a judge's order blocking Samsung from selling its Galaxy Nexus smart phone pending a patent lawsuit by Apple.

  • Penn National unveils casino plan in Mass. Thursday, 11 Oct 2012 | 3:04 PM ET

    Penn National Gaming Inc. said on Thursday it was seeking to build an $807 million resort casino and hotel on a parcel that is now home to a newspaper and a bus terminal.

  • Manager discusses restart of Delaware oil refinery Thursday, 11 Oct 2012 | 3:02 PM ET

    WILMINGTON, Del.-- The plant manager of the Delaware City refinery is not ruling out a future expansion of operations at the facility. PBF Energy, which purchased the shuttered refinery from Valero Corp. in 2010 for $220 million, said earlier this year that it was putting plans for a $1 billion expansion project on hold.

  • 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.