Latest Business News Wires - Business Headlines


  • UPDATE 4-U.S. auto sales growth slowed in July Friday, 1 Aug 2014 | 10:05 AM ET

    DETROIT, Aug 1- U.S. auto sales growth slowed a bit in July, with healthy gains from some manufacturers falling short of expectations, according to early returns from the major carmakers on Friday. Ford Motor Co reported a gain of 10 percent to 212,236 vehicles, slightly beating the analysts' average estimate of 9 percent.

  • Hyundai recalls more than 419K vehicles Friday, 1 Aug 2014 | 10:02 AM ET

    DETROIT— Hyundai is recalling more than 419,000 cars and SUVs to fix suspension, brake and oil leak problems. The biggest of three recalls posted Friday on a U.S. government website is of 225,000 Santa Fe SUVs from 2001-2006 to replace front coil springs that can rust and crack in cold-weather states.

  • U.S. consumer sentiment dips in July Friday, 1 Aug 2014 | 10:00 AM ET

    NEW YORK, Aug 1- U.S. consumer sentiment edged down in July, while an index of consumer expectations weakened for a third straight month, a survey released on Friday showed.

  • US stocks stabilize, helped by a pickup in hiring Friday, 1 Aug 2014 | 9:55 AM ET

    NEW YORK— U.S. stocks are stabilizing a day after a steep drop as investors were encouraged by the latest wave of hiring. Procter& Gamble, Expedia and LinkedIn all rose after reporting better quarterly earnings than analysts were expecting. PerkinElmer fell after its sales missed analysts' forecasts.

  • WASHINGTON, Aug 1- The sluggish pace of wage growth in the United States shows the economy is not overheating, a top White House adviser said on Friday. "We certainly, with the productivity we have, could afford to be seeing more wage growth," Council of Economic Advisers Chairman Jason Furman told CNBC.

  • Aug 1- Biota Pharmaceuticals Inc said its influenza treatment failed to meet the main goal in a mid-stage study, about two months after the company lost a key government contract supporting the drug's development.

  • MUMBAI, Aug 1- Pfizer Ltd, the Indian unit of U.S. drugmaker Pfizer Inc, said on Friday it locked out staff at its Mumbai drug factory after some employees tried to disrupt production lines and threatened management.

  • NEW YORK, Aug 1- U.S. stocks edged lower at the open, as a softer-than-expected July jobs report allayed concerns that the Federal Reserve would raise interest rates sooner than many had expected.

  • Chevron 2Q profit climbs 5.6 percent Friday, 1 Aug 2014 | 9:35 AM ET

    SAN RAMON, Calif.— Chevron Corp. on Friday reported earnings that rose by 5.6 percent in its second quarter, and topped analysts' expectations. The San Ramon, California- based company said net income increased to $5.67 billion, or $2.98 per share, from $5.37 billion, or $2.77 per share, in the same quarter a year earlier.

  • LinkedIn's hiring business seen key to growth Friday, 1 Aug 2014 | 9:34 AM ET

    Aug 1- LinkedIn Corp's booming hiring business and rapid international expansion will be the main growth drivers for the next few quarters, analysts said after the corporate networking site's revenue and profit forecast smashed expectations.

  • Lawmakers employ gimmicks to pay for highway funds Friday, 1 Aug 2014 | 9:29 AM ET

    WASHINGTON— Congress is providing $11 billion to prevent a 28 percent reduction in federal highway and mass transit spending at the peak of the summer construction season. The Senate passed a House-written bill to augment federal gasoline and diesel fuel taxes for keeping the federal Highway Trust Fund solvent through next May.

  • BEIJING, Aug 1- China's central bank will keep up reasonable growth in credit and social financing and fine-tune its monetary policy in a timely way, the bank said on Friday.

  • DETROIT, Aug 1- U.S. auto sales look set to show healthy gains for July, but not as much as expected, according to early returns from the major carmakers on Friday.

  • SANTIAGO, July 31- Nicknamed' scissorhands' for his agile management of difficult projects, Chilean industry veteran Nelson Pizarro is seen by Codelco's board as the ideal man to lead the world's top copper miner through a tricky yet pivotal phase.

  • *Says "commercial momentum remained healthy" in Russia in Q2. PARIS, Aug 1- French bank Societe Generale kept faith with its plans for growth in Russia on Friday a day after new EU sanctions targeted the Russian financial sector.

  • LONDON/ MOSCOW, Aug 1- Mathematically Russia has enough reserves to hold out for at least two years before Western sanctions start to choke the economy, but it must avoid reawakening the "sleeping dragon" of investor panic.

  • PARIS, Aug 1- Shares trimmed losses and the dollar dipped on Friday after the U.S. reported job growth slowed more than expected in July and the unemployment rate unexpectedly rose, easing worries that interest rates will rise soon.

  • JOHANNESBURG, Aug 1- South Africa's system of cash grants for children in poor households shows that a little money goes a long way, resulting in bigger, healthier kids who do better in school.

  • BOSTON, Aug 1- Hedge fund managers Barry Rosenstein and David Einhorn, like many other investors, were hurt by last month's late but sharp stock market selloff and are reporting losses for July, investors who saw their performance numbers said. Meanwhile, David Einhorn's Greenlight Capital fell 2.9 percent last month.

  • Clorox 4Q profit beats Wall St. expectations Friday, 1 Aug 2014 | 9:19 AM ET

    The Oakland, California- based company said net income fell to $170 million, or $1.29 per share, from $183 million, or $1.37 per share, in the same quarter a year earlier. Revenue dropped 2 percent to $1.51 billion from $1.55 billion. Wall Street expected $1.52 billion in revenue.