Latest Business News Wires - Business Headlines


  • Mass. tightens spending after taxes misses mark Monday, 15 Oct 2012 | 3:36 PM ET

    Deval Patrick's administration has ordered tighter controls on state spending, while opting not to revise its estimate of tax revenues for the current fiscal year. Secretary of Administration and Finance Jay Gonzalez said Monday he believes Massachusetts will have enough revenue to meet its budget obligations.

  • Chicago releases 1st cultural plan since 1986 Monday, 15 Oct 2012 | 3:35 PM ET

    CHICAGO-- The city of Chicago released a new cultural plan on Monday _ its first in more than 25 years. It also included developing a theater district in downtown Chicago. Funding for the plan came from the Chicago Community Trust and a grant from the Illinois Arts Council.

  • New Seattle basketball arena plan in play Monday, 15 Oct 2012 | 3:33 PM ET

    SEATTLE-- Monday is expected to be a significant day in the proposal for a new arena in Seattle to bring back an NBA team and host an NHL team. The Seattle and King County councils are expected to give final approval to the plan to build the $490 million arena with $200 million in public help.

  • Jasper Terminal board meeting in Charleston Monday, 15 Oct 2012 | 3:32 PM ET

    CHARLESTON, S.C.-- The two-state board working to build a $5 billion steamship terminal on the South Carolina side of the Savannah River is meeting in Charleston. The Georgia- South Carolina board working to develop the Jasper Ocean Terminal meets Monday at the South Carolina State Ports Authority.

  • Okla. AG delivers first mortgage settlement check Monday, 15 Oct 2012 | 3:31 PM ET

    OKLAHOMA CITY-- Oklahoma Attorney General Scott Pruitt has presented the first homeowner check in connection with the state's $18.6 million settlement with the nation's largest lenders.

  • Ala. gov to give retirement incentive plan details Monday, 15 Oct 2012 | 3:30 PM ET

    The governor has scheduled a news conference for 2 p.m. Monday in Huntsville to explain how the program would work if approved by the Legislature. Expected to join the governor at the news conference are House Speaker Mike Hubbard of Auburn, Senate President Pro Tem Del Marsh of Anniston and Republican Rep.

  • Historic Treme in New Orleans celebrates 200 years Monday, 15 Oct 2012 | 3:28 PM ET

    NEW ORLEANS-- A colorful and musical New Orleans neighborhood is marking the 200th anniversary of its origins as an early melting pot for the city and the nation. It was born from immigration that followed the Haitian revolution of the early 1800 s and named for French milliner and property owner Claude Treme.

  • Obama embraces economic record in new commercial Monday, 15 Oct 2012 | 3:28 PM ET

    WILLIAMSBURG, Va.-- With the economy showing some signs of improvement three weeks before Election Day, President Barack Obama on Monday laid down a full embrace of the economic record many Republicans say is his biggest weakness.

  • FDA accepts DepoMed's hot-flash drug for review Monday, 15 Oct 2012 | 3:27 PM ET

    MENLO PARK, Calif.-- The Food and Drug Administration will review DepoMed Inc.' s potential treatment for menopausal hot flashes and may decide its fate by next spring. DepoMed, based in Menlo Park, Calif., said Monday that the FDA accepted Serada for a standard review and aims to complete its evaluation by May 31.

  • Heating oil prices up 5 cents per gallon in Maine Monday, 15 Oct 2012 | 3:26 PM ET

    AUGUSTA, Maine-- The cost of heating oil has grown 5 cents in the latest survey in Maine. The governor's energy office said Monday that the average heating oil cost is $3.75 per gallon, which is 25 cents higher than it was this time last year.

  • Gold prices fall to its lowest level in a month Monday, 15 Oct 2012 | 3:26 PM ET

    Gold for December delivery fell $22.10 Monday to finish at $1,737.60 per ounce. China says its inflation rate fell in September. Analysts say that investors wonder if China will take action to help its economy.

  • Oil finishes virtually unchanged from Friday Monday, 15 Oct 2012 | 3:26 PM ET

    The Commerce Department said Monday that retail sales rose 1.1 percent last month. The S&P 500 and the Dow Jones industrial average each rose about 0.7 percent. Benchmark crude finished down a penny at $91.85 on the New York Mercantile Exchange.

  • Firm withdraws bid to run Va port operations Monday, 15 Oct 2012 | 3:25 PM ET

    RICHMOND, Va.-- One of the companies vying to operate some of the Virginia's port terminals has dropped out of the competition. State Transportation Secretary Sean Connaughton told the House Appropriations Committee on Tuesday that Carlyle Group has withdrawn its proposal.

  • 1st NJ medical marijuana center OK'd to open Monday, 15 Oct 2012 | 3:25 PM ET

    TRENTON, N.J.-- New Jersey's Health Department says it's issuing its first license to allow a medical marijuana dispensary to open. Officials announced Monday that Greenleaf Compassionate Care Center in Montclair has cleared all the hurdles to open. Health Commissioner Mary O'Dowd says she expects the dispensary will not be able to open immediately.

  • News Summary: India inflation up to 7.8 pct. Monday, 15 Oct 2012 | 3:15 PM ET

    FUEL-FIRED: India's inflation rate accelerated to 7.8 percent in September after the government hiked subsidized fuel prices to rein in the budget deficit. RATE AND A HARD PLACE: The number is worse than expected and gives the central bank little room to cut its key interest rate to counter slowing economic growth when it meets later this month.

  • News Summary: Profits slide at India's Reliance Monday, 15 Oct 2012 | 3:05 PM ET

    DEFLATING EARNINGS: India's Reliance Industries reported a 5.7 percent slide in September quarter profits from a year ago, as the company scales back investment in India's largest oil and gas fields.

  • Movers roundup: Eli Lilly, Pandora Monday, 15 Oct 2012 | 3:05 PM ET

    Among the stock activity stories for Monday, Oct. 15, from AP Business News:. _ Shares of Internet radio company Pandora Media Inc. fell on worries about increasing competition after Microsoft Corp. announced that it would roll out a new music service.

  • Court throws out Seattle yellow-pages restrictions Monday, 15 Oct 2012 | 3:02 PM ET

    SEATTLE-- A federal appeals court panel says Seattle's restrictions on distributing the yellow pages in the city violate the U.S. District judge in Seattle upheld the restrictions after finding the phone books constituted primarily commercial speech not entitled to the full protection of the First Amendment.

  • Unemployment insurance tax to drop in Maryland Monday, 15 Oct 2012 | 3:01 PM ET

    Martin O'Malley is crediting Maryland business owners for struggling to keep workers employed during the recession and its aftermath with enabling the state to lower the unemployment insurance tax by more than half for many employers.

  • Solyndra asks judge to approve reorganization plan Monday, 15 Oct 2012 | 2:59 PM ET

    WILMINGTON, Del.-- The failed solar power company Solyndra LLC is asking a Delaware bankruptcy judge to confirm its proposed reorganization plan over objections from government attorneys. Lawyers also addressed and rejected Internal Revenue Service and Department of Energy objections.