Latest Business News Wires - Business Headlines


  • Obama says U.S. committed to cooperating with China Tuesday, 8 Jul 2014 | 10:35 PM ET

    President Barack Obama said the United States is committed to building a "new model" of relations with China that is defined by cooperation and the constructive management of differences.

  • JGBs lifted by sagging stocks, rallying Treasuries Tuesday, 8 Jul 2014 | 10:13 PM ET

    TOKYO, July 9- Japanese government bond prices were mostly firmer on Wednesday, lifted by sagging Tokyo shares and an overnight rally by U.S. Superlong JGB maturities lagged slightly, weighed by Thursday's 700 billion yen 30- year debt auction. Tokyo's Nikkei fell to a one-week low in the wake of a broad selloff on Wall Street.

  • Kerry says U.S. not seeking to contain China Tuesday, 8 Jul 2014 | 10:03 PM ET

    Secretary of State John Kerry said on Wednesday that the United States is not seeking to contain China, as the two countries began high-level annual talks in Beijing. The United States welcomes a peaceful, stable China that contributes to stability in the region and plays a responsible role, he added.

  • COLUMN-Cleaning up coal: Kemp Tuesday, 8 Jul 2014 | 10:01 PM ET

    LONDON, July 9- According to the popular narrative, coal is locked in a fight to the death with natural gas and renewables to supply clean electrical energy. Promoters of gas, wind and solar often talk about coal as if it were not just a rival but an enemy.

  • NEW YORK/ WASHINGTON, July 8- Citigroup Inc is close to paying about $7 billion to resolve a U.S. probe into whether it defrauded investors on billions of dollars worth of mortgage securities in the run-up to the financial crisis, a source familiar with the matter said on Tuesday.

  • TOKYO, July 9- Japan's Nikkei share average fell to a fresh one-week low on Wednesday morning as U.S. stocks beat a retreat before the start of the earnings season, and the stronger yen hurt exporters. Bucking the weakness, ANA Holdings rose 1.3 percent after CLSA hiked its rating to' buy' from' outperform' citing its strong inbound and outbound traffic.

  • BEIJING, July 9- China's consumer prices rose 2.3 percent in June from a year earlier while producer prices fell 1.1 percent, official data from the National Bureau of Statistics showed on Wednesday, largely in line with market expectations.

  • SYDNEY, July 9- London copper prices steadied on Wednesday near their highest in almost five months, underpinned by shrinking supply and improving prospects for global growth. *Three-month copper on the London Metal Exchange had edged up 0.2 percent to $7,146.75 a tonne by 0109 GMT, from the previous session when it hit its highest since Feb. 19 at $7,212 a tonne.

  • Treasury Secretary Jack Lew said on Wednesday that moving to a market-determined exchange rate will be a crucial step for China, as the two countries began annual high-level talks. "We support China's efforts to allow the market to play a more decisive role in the economy and rely more on household consumption to drive China's economic growth.

  • MEXICO CITY, July 8- Billionaire Carlos Slim's America Movil said on Tuesday its board voted to divest assets to cut its Mexico telecommunications market share below 50 percent and avoid tough new regulations designed to curb his long-held dominance of the sector.

  • MEXICO CITY, July 8- Mexico's lower house of Congress gave general approval on Tuesday to legislation that aims to rein in telecoms tycoon Carlos Slim and broadcaster Televisa to encourage more competition in the phone and TV markets.

  • TOKYO, July 9- U.S. crude oil futures edged up towards $104 in early Wednesday trade, rising for the first time in nine sessions after easing fears of supply disruption in Iraq and expectations of rising Libyan exports had put the contract under pressure.

  • SINGAPORE, July 9- Palladium climbed for a 13th straight session on Wednesday to trade near its highest since 2001 on concerns over supply constraints in major producer South Africa, amid strong demand for the metal from the auto industry.

  • GLOBAL MARKETS-Asian stocks slip, dollar slumps Tuesday, 8 Jul 2014 | 8:29 PM ET

    *Investors await China inflation data. MSCI's broadest index of Asia-Pacific shares outside Japan was down about 0.2 percent in early trade, and Japan's Nikkei stock average dropped about 0.6 percent. Traders were awaiting China inflation data at 0130 GMT for further clues on whether the economy is stabilising, ahead of seonc-.

  • SAN FRANCISCO, July 8- China on Tuesday disputed claims by CrowdStrike, a U.S. security firm, that a group of hackers it calls "Deep Panda" is linked to unnamed Chinese government officials, saying the firm was merely seeking publicity.

  • DIARY - Top economic Events to July 22 Tuesday, 8 Jul 2014 | 8:01 PM ET

    BEIJING- Sixth round of the U.S.- China Strategic and Economic Dialog will be held in Beijing, China. Treasury Secretary Jacob Lew and Secretary of State John Kerry will join their respective Chinese co-chairs, Vice Premier Wang Yang and State Councilor Yang Jiechi, for the Dialog.

  • WASHINGTON, July 8- The head of Delphi Automotive Plc, maker of ignition switches linked to at least 16 fatal car crashes, is expected to face intensive questioning next week from a U.S. Senate panel investigating General Motors Co' handling of the issue.

  • SYDNEY, July 9- The New Zealand dollar held on to gains early on Wednesday, having scaled a fresh three-year peak on the prospect of a sovereign rating upgrade, contrasting with other major currencies which shuffled in familiar ranges.

  • July 8- Alcoa Inc's chief executive officer said on Tuesday the aluminum company would push deeper into the market for more profitable finished products like truck wheels and aircraft fuselages as it reported quarterly results that beat analysts' expectations.

  • MEXICO CITY, July 8- Mexico's lower house of Congress on Tuesday gave general approval to legislation to reform the country's phone and TV markets and rein in telecoms tycoon Carlos Slim and broadcaster Televisa.