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Latest Business News Wires - Business Headlines

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  • MOSCOW, Feb 3- Russia's Central Bank Governor Elvira Nabiullina said on Tuesday that Russia has lost some $160 billion due to decline in oil prices from $100 per barrel to $45 per barrel. "The decrease in oil prices from $100 to $45 per barrel has left to a drop in export revenues of $160 billion in annual terms, according to our estimates," Nabiullina told journalists.

  • Feb 3- U.S. miner Arch Coal Inc said it expected costs in the Powder River Basin and Appalachian regions to fall this year, helped partly by lower diesel prices and easing railroad snarls, sending its shares up as much as 13 percent. Arch Coal and its rivals have been hurt by weak demand for thermal coal as utilities have switched to cheap and abundantly available...

  • WASHINGTON, Feb 3- The Obama administration on Tuesday said it saw room for compromise with Congress on a potential overhaul of the business tax code, but a top Republican lawmaker said the two sides remained at loggerheads over taxes on small companies. Treasury Secretary Jack Lew appeared before lawmakers to explain a White House budget proposal that would...

  • HOUSTON, Feb 3- A strike by U.S. refinery workers entered a third day on Tuesday as contact resumed between the lead industry negotiator, Royal Dutch Shell Plc, and union leaders over a new nationwide wage deal, the company said. After leaving the negotiating table early on Sunday when talks broke down, prompting labor leaders to call a strike, Shell late on Monday...

  • Feb 3- Lear Corp's said activist investor Mick McGuire has urged the company to split its car seat and electrical parts businesses into two publicly traded companies. McGuire's hedge fund, Marcato Capital Management, was Lear's fourth-largest shareholder as of Sept. 30, with a 4.58 percent stake, according to Thomson Reuters data. In March 2013, Lear avoided a...

  • WASHINGTON, Feb 3- A top U.S. diplomat said on Tuesday that "quite a few" telecommunications companies had been in touch with the government about the possibility of doing business in Cuba. We've been in touch with quite a few, " Roberta Jacobson, the Assistant secretary of state for Western Hemisphere affairs, said at a U.S. Senate hearing. The United States is moving to...

  • Iranian fuel oil exports trade skirts sanctions Tuesday, 3 Feb 2015 | 11:34 AM ET

    DUBAI, Feb 3- Iran is sidestepping Western sanctions and managing to sell hundreds of thousands of tonnes of fuel oil every month through companies based in the U.S.-allied United Arab Emirates, trading sources told Reuters. But Tehran has been using innovative methods to circumvent the restrictions, several Middle East- based trading sources said.

  • STATE DEPARTMENT OFFICIAL SAYS "QUITE A FEW" TELECOMMUNICATIONS COMPANIES HAVE BEEN IN TOUCH WITH U.S.

  • WASHINGTON, Feb 3- The U.S. environmental regulator urged the State Department to weigh plunging oil prices in its forthcoming recommendation on the Keystone XL oil pipeline, saying such a drop could mean the project will lead to higher greenhouse gas emissions. The State Department's review last year found that oil sands production "is expected to be most...

  • Treasury and a federal grand jury over alleged failures to comply with anti-money laundering law, has hired away Wal-Mart Stores Inc's top expert. "We are very confident AML experience with Wal-Mart qualifies him for his new role with us." The Las Vegas- based company's decision to hire a high-profile, outside anti-money laundering expert, instead of promoting...

  • RIO DE JANEIRO, Feb 3- Shares of state-run oil company Petrobras jumped more than 12 percent on Tuesday after a local newspaper reported Brazilian President Dilma Rousseff has decided to replace the embattled company's chief executive officer. Petroleo Brasileiro SA, as Petrobras is formally known, declined to comment. Police say they have uncovered a...

  • NOVO-OGARYOVO, Russia, Feb 3- Russia's economy minister said on Tuesday the government planned to spend 525 billion roubles from the state's National Wealth Fund to support infrastructure projects including one to produce liquefied natural gas, Yamal LNG.

  • Big banks face $500bn "bail in" bonds bill - S&P Tuesday, 3 Feb 2015 | 11:24 AM ET

    LONDON, Feb 3- The world's 30 biggest banks will have to issue more than $500 billion in bonds to comply with proposed global rules aimed at shielding taxpayers from the risk of future banking failures, credit rating agency Standard& Poor's said on Tuesday. Leaders of the Group of 20 economies have proposed that 30 so-called globally systemic banks such as...

  • *Sale to generate $400 mln- $475 mln in pretax proceeds. *Forecasts 2015 adj profit of $0.33- $0.35/ shr vs est $0.39. Feb 3- Wendy's Co, the No. 3 U.S. hamburger chain by sales, said it would sell about 500 restaurants to franchisees and reduce company ownership of its outlets to about 5 percent by mid-2016.

  • NEW YORK, Feb 3- The dollar skidded to a nearly two-week low against the euro on Tuesday on euro buying following weaker U.S. economic data and easing concerns surrounding Greece's debt load, while the Australian dollar plunged on a central bank rate cut. That trend was bolstered Tuesday, a day after Greece's new government proposed plans for ending a standoff...

  • DETROIT, Feb 3- January U.S. car sales by the three Detroit- based automakers topped analysts' expectations, as low gasoline prices and easy credit terms helped fuel sales of utility vehicles and big pickups. Sales of trucks and SUVs accounted for 69 percent of January sales at General Motors Co, Ford Motor Co and Fiat Chrysler Automobiles, compared with 66 percent a...

  • RUSSIAN ECONOMY MINISTER ULYUKAYEV SAYS SOME 525 BLN ROUBLES FROM A WEALTH FUND WILL BE SPENT ON INFRASTRUCTURE PROJECTS, INCLUDING YAMAL LNG.

  • The Times beats Street 4Q forecasts Tuesday, 3 Feb 2015 | 11:10 AM ET
    The New York Times building in New York City.

    The New York Times Co. reported fourth-quarter net income of $34.9 million.

  • Feb 3- U.S. retailer Target Corp on Tuesday named Mike McNamara, a former executive at British retailer Tesco PLC, its new chief information officer. The move comes as Target looks to boost online sales and bolster data security in the wake of a massive hacking attack that hurt its sales during the 2013 holiday shopping season. McNamara, who worked at Tesco for more...

  • RUSSIAN ECONOMY MINISTER ULYUKAYEV SAYS MONEY FROM A STATE WEALTH FUND WILL NOT BE USED FOR ANTI-CRISIS SPENDING PROGRAMME- RIA.