Latest Business News Wires - Business Headlines


  • FACTBOX-General Motors recalls 3 mln vehicles globally Thursday, 15 May 2014 | 11:40 AM ET

    May 15- General Motors Co said on Thursday it has issued five more recalls, covering almost 3 million vehicles globally, including 2.7 million in the United States. The largest of the recalls will include the Chevrolet Malibu, Chevrolet Malibu Maxx, Pontiac G6 and Saturn Aura cars, GM said.

  • May 15- Thousands of gallons of crude oil spilled over a half-mile area in Los Angeles on Thursday due to a break in an above-ground Plains West Coast pipeline, the city fire department said. The pipeline runs from the San Joaquin Valley in California to Long Beach, Moore said.

  • CHICAGO, May 15- Farmland prices in the U.S. Plains and Midwest eased along with farm income in the first quarter of 2014 and more weakness was expected into the summer, according to Federal Reserve Bank quarterly surveys issued on Thursday.

  • U.S. FCC votes to propose new 'net neutrality' rules Thursday, 15 May 2014 | 11:34 AM ET

    WASHINGTON, May 15- The U.S. Federal Communications Commission on Thursday voted 3-2 along party lines to formally propose new "net neutrality" rules that may let Internet service providers charge content companies for faster and more reliable delivery of their traffic to users.

  • WASHINGTON, May 15- A Senate panel on Thursday approved legislation to wind down Fannie Mae and Freddie Mac and redesign the U.S. mortgage finance system, but sparse support among Democrats means the measure is unlikely to make it into law.

  • *Gold holds around $1,300 an ounce. LONDON, May 15- Gold fell slightly on Thursday, although it held near $1,300 an ounce, after mixed U.S. data signalled a still uncertain outlook for the world's biggest economy, and the dollar pared earlier gains.

  • LONDON/ MUMBAI May 15- With emerging equity funds positioned for a business-friendly outcome to India's election, any further boost for the pumped-up stock market may come from global funds whose India allocation still has room to grow.

  • GLOBAL MARKETS-Yields fall on ECB easing bets, mixed data Thursday, 15 May 2014 | 11:08 AM ET

    "Bonds are effectively acting as the parking place for capital until we see more consistency and a more compelling reason to put money to work in the market," said Peter Kenny, CEO of Clearpool Group in New York.

  • WASHINGTON, May 15- A U.S. Senate committee passed a six-year transportation bill on Thursday that would keep federal spending on highways and mass transit at current levels but does not tackle the looming shortfall in the Highway Trust Fund.

  • *Africa launches its first sovereign risk insurance pool. *Climate change seen major risk to Africa. On May 1, Africa launched its first sovereign risk pool insurance scheme, marking a major policy shift in the way climatic events such as droughts, and from next year floods, will be tackled by the world's poorest continent.

  • NEW YORK, May 15- The euro extended losses to 11- week lows against the dollar and the yen on Thursday after subdued euro zone growth and inflation data bolstered expectations the European Central Bank will ease monetary policy at its meeting next month.

  • More than 100 activists protested at the FCC on Thursday, with signs reading "Liberate the Internet" and "Keep the Internet Free" and three audience members were escorted out of the meeting room for standing and shouting protests.

  • *Cancer drugs form central plank of AstraZeneca portfolio. May 15- New data showing an experimental AstraZeneca lung cancer drug shrank tumors in more than half of patients gave the British group fresh ammunition to argue that Pfizer's takeover offer undervalues it substantially.

  • CARTAGENA, Colombia, May 15- Attacks on Colombia's oil pipeline network by the country's leftist guerrillas have fallen by half so far this year, Mines and Energy Minister Amylkar Acosta said late on Wednesday, as surveillance has been stepped up.

  • *Wal-Mart profit falls as severe winter deters shoppers. NEW YORK, May 15- Wall Street extended its losses into a second day on Thursday as weaker-than-expected earnings from Wal-Mart and a selloff in momentum stocks overshadowed positive economic reports.

  • UPDATE 1-India's BJP debates junking deficit cut roadmap Thursday, 15 May 2014 | 10:23 AM ET

    NEW DELHI, May 15- India's main opposition party, set to form the next government, is debating scrapping or revising a plan to cut the federal fiscal deficit, potentially risking a ratings downgrade, although that could be mitigated if economic growth recovers.

  • TORONTO, May 15- Sales of existing homes in Canada jumped in April from March as the spring market roared to life, though they fell from year-ago levels, the Canadian Real Estate Association said on Thursday.

  • *Sanofi has restructured R&D, has strong pipeline-Zerhouni. PARIS, May 15- France's Sanofi has strengthened its drug pipeline and has enough future blockbusters lined up for it to steer clear of the M&A frenzy "overheating" the industry, the drugmaker's R&D chief told Reuters.

  • Corn Belt and Delta region of the Midwest eased in the first quarter of 2014 compared with the previous quarter as bidding for grain acreage and rents tracked lower grain prices over the winter and expectations for this year, the Federal Reserve Bank of St. Louis said on Thursday.

  • *Moscow offers gas talks if Kiev pays part of debt. MOSCOW/ KIEV, May 15- Moscow and Kiev took tentative steps on Thursday towards ending their standoff over the price of Russian gas supplies to Ukraine that has threatened to disrupt onward deliveries to western Europe.