Latest Business News Wires - Business Headlines


  • FACTBOX-India's food stockpiling and WTO stand-off Tuesday, 29 Jul 2014 | 8:44 AM ET

    July 29- India threatened to block a worldwide reform of custom rules last week, saying it wants an agreement on food subsidies and stockholding to run parallel to the trade facilitation pact.

  • July 29- United Parcel Service Inc, the world's biggest courier company, slashed its earnings forecast for the year as it spends to boost capacity ahead of the holiday shopping season. The Atlanta- based company said it expects full-year adjusted earnings of $4.90- $5.00 per share.

  • NEW DELHI, July 29- With grain silos spilling over, exports on the rise and an avowed market champion for prime minister, India's threat to trash a global trade deal in the name of food security appears puzzling. Party officials are confident New Delhi's tough line at World Trade Organization talks in Geneva will accomplish that.

  • AK Steel's loss narrows as shipments rise Tuesday, 29 Jul 2014 | 8:39 AM ET

    July 29- U.S. steelmaker AK Steel Holding Corp reported a smaller second-quarter loss, helped by higher shipments. Net loss attributable to the company narrowed to $17.1 million, or 13 cents per share, in the quarter ended June 30, from $40.4 million, or 30 cents per share, a year earlier. Net sales rose 9 percent to $1.53 billion.

  • BEIJING, July 29- China will focus on targeted policy measures to support its economy, as it keeps monetary policy stable for the rest of the year, state television quoted the country's Politburo as saying. The Politburo, a top decision-making body of the ruling Communist Party, was also quoted as saying that China will hold in October the fourth plenary session.

  • LONDON, July 29- Brent crude oil steadied around $107 a barrel on Tuesday as ample supply offset political tensions in the Middle East, Africa and Europe. Despite conflicts in Ukraine, Iraq and Libya, global oil production has exceeded demand, leaving pockets of excess supply in Africa and Europe.

  • U.S. FDA raises concerns about Impax's Taiwanese plant Tuesday, 29 Jul 2014 | 8:18 AM ET

    July 29- Impax Laboratories Inc said the U.S. Food and Drug Administration issued "certain observations" after an inspection of the company's manufacturing plant in Taiwan. "The FDA did not provide any status or classification to these observations," the company said. It closed at $28.03 on Monday.

  • Waste Management selling subsidiary for $1.94B Tuesday, 29 Jul 2014 | 8:17 AM ET

    HOUSTON— Waste Management is selling a subsidiary to Energy Capital Partners for $1.94 billion as part of its effort to focus on its core business. The business also has four ash monofill landfills, three transfer stations and an ongoing development and construction project in the U.K. Wheelabrator's 2013 revenue totaled about $845 million.

  • July 29- A fire which lasted about an hour injured four people early Tuesday at CVR Energy Inc's Coffeyville, Kansas refinery, according to local media reports. A company spokesman and officials from Coffeyville police and fire departments were not immediately available for comment.

  • *Net income $1.06/ shr vs. est 99 cents/ shr. July 28- McGraw Hill Financial Inc reported a better-than-expected quarterly profit, driven by growth in its Standard& Poor's ratings unit due to a resurgent bond market. Revenue from the S&P business rose 11 percent to $664 million in the quarter, accounting for nearly half of McGraw Hill's total revenue.

  • *Bank of Cyprus raises 1 bln euros from EU, US investors. LONDON/ NICOSIA, July 29- Bank of Cyprus, which has just raised 1 billion euros from investors, plans to sell up to 1 billion euros in bonds in September, chief executive John Hourican said, a move that would mark a rehabilitation of the euro zone's first bank to recapitalise using depositors' cash.

  • DETROIT, July 29- Auto systems supplier TRW Automotive Holdings Corp, targeted for takeover by ZF Friedrichshafen, easily beat Wall Street profit expectations for the second quarter on Tuesday as revenue rose 2 percent. Excluding one-time items, TRW earned $2.32 per share in the quarter, versus $2.02 a year earlier.

  • UPS 2Q profit drops, lowers outlook on spending Tuesday, 29 Jul 2014 | 8:08 AM ET

    UPS said it will spend $175 million on upgrades that include expanded operations on the day after Thanksgiving and sped-up deployment of software designed to help drivers find the quickest route to a destination.

  • Reynolds American 2Q profit climbs 6.7 percent Tuesday, 29 Jul 2014 | 8:06 AM ET

    WINSTON SALEM, N.C.— Reynolds American Inc. says that its profit rose by 6.7 percent in its second quarter, topping analysts' expectations. Reynolds American narrowed its 2014 adjusted earnings forecast to a range of $3.35 to $3.45 per share. Reynolds American narrowed its 2014 adjusted earnings forecast to a range of $3.35 to $3.45 per share.

  • Corning 2Q profit falls 74 percent Tuesday, 29 Jul 2014 | 8:04 AM ET

    CORNING, N.Y.— Corning Inc. on Tuesday reported net income that declined by 74 percent in its second quarter. The Corning, New York- based company said earnings fell to $169 million, or 11 cents per share, from $638 million, or 43 cents per share, in the same quarter a year ago.

  • McGraw Hill 2Q profit rises 15 percent Tuesday, 29 Jul 2014 | 8:01 AM ET

    NEW YORK— McGraw Hill Financial Inc. on Tuesday reported profit that rose by 15 percent in its second quarter, and topped analysts' expectations. The New York- based company said profit increased to $292 million, or $1.06 per share, from $254 million, or 91 cents per share, in the same quarter a year ago.

  • NEW YORK, July 29- When Harvey Montijo first moved in with his wife Natalie, he remembers exactly how long it took to get into a tiff about household temperature. "Right from the get-go," remembers the 31- year-old orthopedic resident in Charlotte, North Carolina.

  • TAIPEI, July 29- A 22- year-old male employee of Taiwan's Hon Hai Precision Industry Co was found dead outside the company's manufacturing campus in the Chinese city of Shenzhen, the company said on Tuesday. It makes parts for Apple Inc's iPhones, iPads and laptops, as well as computers and servers for Hewlett-Packard Co and Cisco Systems Inc..

  • China investigating Microsoft in monopoly case Tuesday, 29 Jul 2014 | 7:57 AM ET

    BEIJING— China's anti-monopoly agency announced an investigation Tuesday of Microsoft Corp., stepping up regulatory pressure on foreign technology companies.

  • UPS profit hit by retirement liabilities Tuesday, 29 Jul 2014 | 7:56 AM ET

    July 29- United Parcel Service Inc's quarterly profit more than halved as the world's biggest courier company took a charge related to retirement liabilities of some union employees. The company's net income fell to $454 million, or 49 cents per share, from $1.07 billion, or $1.13 per share, a year earlier.