Business News


  • *Two-year yields highest since May 2011. Treasuries yields rose Wednesday and two-year note yields surged to their highest since May 2011 after data showed strong U.S. economic growth in the second quarter and that the first quarter's contraction wasn't as steep as earlier estimated.

  • AP Top Extended Financial Headlines At 9:19 a.m. EDT Wednesday, 30 Jul 2014 | 9:19 AM ET

    US economy grew at strong 4 percent rate in second quarter after sharp contraction in winter Revised figures show US economy grew at fastest pace in 10 years in last year's 2nd half Fed widely expected to make sixth reduction in bond purchases at this week's meeting Hilton CEO Chris Nassetta talks about the future of room service, Wi-Fi and younger travelers European shares drift ahead of US data, Asia gains on earnings reports Small cars fare poorly in new frontal crash tests, Mini Cooper Countryman gets top rating Toyota remains No. 1, at top in global vehicle sales after first 6 months, beating VW and GM Hyundai recalling 883,000 Sonata midsize cars to fix problem with gear shift levers Drop in e-cigarette sales hurts Lorillard's 2nd- quarter profit Goodyear 2 Q profit increases 18 percent

  • *Economy expands 4.0 percent in second quarter. WASHINGTON, July 30- U.S. economic growth accelerated more than expected in the second quarter and the decline in output in the prior period was less steep than previously reported, bolstering views for a stronger performance in the last six months of the year.

  • Dominion 2Q profit falls 21 percent Wednesday, 30 Jul 2014 | 9:14 AM ET

    RICHMOND, Va.— Dominion Resources Inc. on Wednesday reported profit that declined by 21 percent in its second quarter, and beat analysts' expectations. The Richmond, Virginia- based company said earnings fell to $159 million, or 27 cents per share, from $202 million, or 35 cents per share, in the same quarter a year earlier.

  • DUBLIN, July 30- Ireland is in the firing line from Washington again for luring U.S. companies to its shores for tax benefits, but despite contrite noises coming from Dublin, it has too much to lose to discourage U.S. firms bent on shifting their tax domiciles.

  • US STOCKS-Futures point to higher open after GDP data Wednesday, 30 Jul 2014 | 9:05 AM ET

    *Twitter rallies in premarket after blockbuster results. NEW YORK, July 30- U.S. stock index futures pointed to a higher open on Wednesday after the first read on second-quarter economic growth came in much stronger than expected, overshadowing a weak report on the labor market.

  • *VTB says ready to borrow in other currencies, markets. MOSCOW, July 30- VTB, Russia's second-largest bank by assets, said it is ready to borrow in other currencies and markets after sanctions imposed by the United States thwarted its ability to access dollar financing, a move it called "politically motivated" and "unjust".

  • July 30- Bailed-out Cyprus is likely to return to growth next year, the International Monetary Fund said on Wednesday, but cautioned the outlook was tempered by tensions over Ukraine and banks' rising bad loans.

  • *Airbus Group says cancellations linked to overbooking. *Airbus says focusing on Dassault stake sale. PARIS, July 30- Airbus Group moved to allay concerns over a wave of order cancellations on Wednesday, sparking a rally in its shares helped by better than expected half-year results.

  • BRASILIA, July 30- High inflation should not keep Brazilian President Dilma Rousseff from getting re-elected in October because wage earners have been cushioned by social gains made during a decade of Workers' Party rule, the party's boss said.

  • AP Top Financial News At 9 a.m. EDT Wednesday, 30 Jul 2014 | 8:57 AM ET

    US economy grew at strong 4 percent rate in spring Revised data: US grew faster in 2nd half of 2013 As Fed meets, key issues likely to stay unanswered The man responsible for Hilton's grand turnaround Europe shares drift ahead of US data; Asia gains Small cars fare poorly in crash tests Toyota remains at top in sales after first half Hyundai recalls 883 K Sonatas to fix gear shifters Drop in e-cigarette sales hurts Lorillard profit Goodyear 2 Q profit rises 18 percent

  • Twitter's market value set to soar after strong results Wednesday, 30 Jul 2014 | 8:54 AM ET

    July 30- Shares of Twitter Inc were set to soar on Wednesday as surprisingly strong user growth eased investor concerns that the popularity of the micro-messaging site was waning. Twitter's user growth stagnated after it went public to much fanfare in November, leading to a management shake-up that included the exit of Chief Operating Officer Ali Rowghani.

  • KIEV, July 30- Ukraine's economic decline has accelerated as fighting between the army and pro-Russian separatists in the east took a heavy toll on industry and other economic activity in the last three months.

  • Argentina bonds rally on optimism over holdout talks Wednesday, 30 Jul 2014 | 8:49 AM ET

    NEW YORK, July 30- Argentina's international and local bonds traded up sharply on Wednesday as last-minute negotiations between the sovereign and holdout creditors fueled optimism that an agreement to avert a default will be reached.

  • WASHINGTON, July 30- The U.S. State Department has approved the sale of 5,000 Hellfire missiles to Iraq as Baghdad tries to fend off militant Islamist forces. Iraq had requested 5,000 of the air-to-ground missiles, which are manufactured by Lockheed Martin Corp and enable helicopters to battle tanks and other armored vehicles.

  • As scrutiny mounts, mortgage servicers push into lending Wednesday, 30 Jul 2014 | 8:46 AM ET

    July 30- Mortgage servicers in the United States are evolving into the next big lenders, sidestepping regulatory scrutiny to win business in a gap left by the retreat of big banks from the home-loan market.

  • Drop in e-cigarette sales hurts Lorillard profit Wednesday, 30 Jul 2014 | 8:45 AM ET

    GREENSBORO, N.C.— Lorillard Inc.' s profit fell 4.2 percent in the second quarter from a year ago as sales of its electronic cigarettes dropped.

  • Goodyear Tire profit up 18 pct Wednesday, 30 Jul 2014 | 8:41 AM ET

    July 30- Goodyear Tire& Rubber Co, the biggest U.S. tire maker, reported a higher quarterly profit on increased demand for replacement tires. Net income available to the company's shareholders increased about 18 percent to $213 million, or 76 cents per share, in the second quarter ended June 30, from $181 million, or 67 cents per share, a year earlier.


  • WASHINGTON, July 30- U.S. economic growth was far stronger than previously estimated in the second half of 2013, which could help to explain a sharp drop in the unemployment rate during the period.