Latest Business News Wires - Business Headlines


  • UNITED NATIONS, July 10- More than half of the world's seven billion people live in urban areas, with the top "mega cities"- with more than 10 million inhabitants- being Tokyo, Delhi, Shanghai, Mexico City and Sao Paulo, according to a United Nations report on Thursday.

  • WASHINGTON, July 10- Verizon Communications Inc had a net addition of over 1.4 million postpaid subscribers in the second quarter, its chief executive said on Thursday, a dramatic increase from the first quarter, when customer growth fell short of expectations.

  • US STOCKS-Wall St edges lower on Portugal bank worry Thursday, 10 Jul 2014 | 2:39 PM ET

    *Lumber Liquidators tumbles after revised outlook. NEW YORK, July 10- U.S. stocks edged lower on Thursday as concerns about the financial health of Portugal's top listed bank gave investors a reason to cash in recent gains.

  • *Bullion at March 19 high after worry of another Europe contagion. NEW YORK/ LONDON, July 10- Gold hit 3-1/ 2 month highs on Thursday on safe-haven buying sparked by worries about Portugal's top listed bank, and after India kept record high duties on bullion that could prompt traders who did not buy gold earlier to return to the market.

  • WASHINGTON, July 10- The U.S. consumer watchdog on Thursday said payday lender ACE Cash Express must pay $10 million to settle accusations that it had used unfair debt collection practices, such as threatening to sue borrowers, to pressure them into taking out new loans.

  • WASHINGTON, July 10- Verizon Communications Inc added over 1.4 million net postpaid subscribers in the second quarter of 2014, the company's chief executive said in an interview on CNBC on Thursday, two weeks before its second quarter earnings release.

  • WASHINGTON, July 10- The Obama administration said on Thursday that it "strongly opposes" a Republican measure pending in the U.S. Congress that would permanently extend a business tax break dealing with deductions on depreciation of certain investments. If approved there, it would go next to the Democrat-controlled Senate, where it was not expected to advance.

  • BRASILIA, July 10- Brazil's government is in talks with commercial banks to lend at least 2 billion reais in emergency credit to electricity distributors as drought causes power rates to soar, a source with direct knowledge of the talks told Reuters on Thursday. Brazil's energy regulator on Wednesday extended the deadline for payment to the end of the month.

  • NEW YORK, July 10- Stocks slumped worldwide on Thursday as investors flocked to safe-haven government bonds on fears problems at Portugal's biggest listed bank could herald wider problems for riskier assets. European stock markets were hit hardest as trading in Banco Espirito Santo was halted after a 19 percent drop.

  • July 10- General Electric Co said on Thursday it picked France's Safran SA, Japan's IHI Corp and Germany's MTU Aero Engines AG to work on the GE9X engine that will power Boeing Co's new 777 X aircraft. GE told Reuters the companies chosen would share about 25 percent of the GE9X program, with Safran holding the largest share.

  • Bloomberg, citing people familiar with the matter, reported earlier that TRW was in early-stage sale talks with German auto parts supplier ZF Friedrichshafen AG. ZF Friedrichshafen values TRW at $11 billion to $12 billion, although no specific price has been discussed, the Bloomberg report said.


  • PARIS, July 10- Club Mediterranee suitor Andrea Bonomi met trade unions on Thursday to outline his plan for the French holidays group, but did not convince staff representatives worried about possible job cuts. He is offering 21 euros a share for Club Med, valuing it at 790 million euros.

  • NEW YORK, July 10- A U.S. court on Thursday rejected an appeal by Taiwan- based AU Optronics Corp of the $500 million criminal fine the company was ordered to pay in 2012 after a conviction for price-fixing in the market for liquid crystal display panels. AU Optronics appealed it as excessive.

  • TRW Automotive confirms getting takeover offer Thursday, 10 Jul 2014 | 12:58 PM ET

    July 10- Auto parts supplier TRW Automotive Holdings Corp said it had received a preliminary takeover proposal and was in the process of evaluating the offer. Bloomberg reported earlier that TRW had received a takeover approach from German auto supplier ZF Friedrichshafen AG, citing a person familiar with the matter.

  • *China copper imports fall 7.9 pct on month in June. LONDON, July 10- Nickel prices slid on Thursday as inventories rose, giving investors a reminder of an overhang of material despite an Indonesian export ban. Copper rebounded after upbeat U.S. jobs data raised the prospect of higher demand for industrial metals.

  • LONDON, July 10- Investors across Europe trimmed their exposure to banks on Thursday in response to growing concerns about the health of Portugal's biggest listed lender, with a leading pan-European share index slipping to a two-month low.

  • *Lumber Liquidators tumbles after revised outlook. NEW YORK, July 10- U.S. stocks pulled well off session lows but were still falling on Thursday as concerns about the financial health of Portugal's top listed bank gave investors a reason to cash in recent gains.

  • NEW YORK, July 10- A federal appeals court in New York has revived claims by 211 cleanup workers who sought compensation for their alleged exposure to toxic contaminants in buildings near the World Trade Center site after the Sept. 11, 2001, attacks.