Latest Business News Wires - Business Headlines


  • TORONTO, March 28- BlackBerry Ltd reported a quarterly loss on Friday as smartphone sales continued to slide across all regions. The company said during the fourth quarter it recognized hardware revenue on about 1.3 million BlackBerry smartphones compared to about 1.9 million devices in the previous quarter.

  • Chen, viewed by tech industry insiders as a turnaround artist, wants BlackBerry to zero in on its core base of corporate and government clients, and on its services arm, which secures mobile devices on the internal networks of big clients. BlackBerry reported a fiscal fourth-quarter loss on Friday.

  • March 28- Idera Pharmaceuticals Inc said its experimental drug for an inflammatory skin disease was found safe and well tolerated by patients after 12 weeks of treatment in a mid-stage trial. The company's shares rose about 40 percent to $5.40 in premarket trading on Friday.

  • LONDON, March 28- Copper rose on Friday, climbing to its highest in 2-1/ 2 weeks, as speculation gathered pace that China could step-in to stimulate its economy and lift demand for industrial metals.

  • March 28- BRP Inc, the maker of Ski-Doo snowmobiles and Sea-Doo watercraft, posted a quarterly net loss, mainly due to higher expenses. The company, which was spun off from Bombardier Inc in 2003, reported a net loss of C $6.3 million for the quarter ended Jan. 31 compared with a profit of C $35.8 million, a year earlier.

  • *Red Hat profit beats expectations, but outlook weak. NEW YORK, March 28- U.S. stock index futures rose on Friday, lifted by remarks from China's Premier Li Keqiang that the Chinese government was ready to take steps to support its economy. *The prospect of slowing growth in China, the world's second-largest economy, has long been a market headwind.

  • *Gold on track for 3 pct weekly decline. LONDON, March 28- Gold edged up on Friday, but was near six-week lows under $1,300 an ounce and was on track for a second straight weekly decline as an improving U.S. economic outlook lifted the dollar and bolstered appetite for risk. Gold futures for April delivery rose 0.1 percent to $1,296.10 an ounce.

  • *Close watch on capability, especially U.S. Navy P8. PERTH/ SYDNEY, Australia, March 28- The pot-bellied silhouette of a Chinese Il-76 military transport plane appeared in the sky over Perth International Airport just as the U.S. naval officer was explaining how he guards his cutting-edge surveillance plane.

  • TORONTO, March 28- BlackBerry Ltd reported a quarterly loss on Friday as smartphone sales continued to slide across all regions. The Waterloo, Ontario- based company reported a net loss of $423 million, or 80 cents a share, for the fourth quarter ended March 1. Revenue fell to $976 million from $2.68 billion.

  • March 28- A prolonged drought in California could lead to ratings downgrades on the state's water and public power utilities unless they show a willingness to raise prices, according to a report by Fitch Ratings.

  • LONDON, March 28- Asia- focused bank Standard Chartered Plc paid 118 of its bankers at least 1 million euros last year, topped by a $9.5 million payout to Mike Rees, head of its wholesale or investment banking division.

  • *Opel to cease exports to China, start production of Buick. FRANKFURT, March 28- General Motors unit Opel will make two additional vehicles at its plant in Ruesselsheim, Germany, including a Buick destined for the United States, it said on Friday.

  • LONDON, March 28- Emerging market stocks were set for their biggest weekly rise in nine months on Friday as calm in Crimea and reports that China would fast track infrastructure spending helped repair some of the damage of a turbulent few months.

  • LONDON, March 28- Brent rose above $108 a barrel on Friday, heading for the first weekly rise in five, on promising U.S. data and concern that possible Western sanctions on Russia's energy sector could disrupt global supplies. Brent crude was up 19 cents at $108.02 a barrel by 1019 GMT.

  • KIEV, March 28- Smarting from Ukraine's U-turn towards Europe, Russia is likely to employ every weapon in its economic arsenal to ensure its neighbour's road to financial recovery is as painful as possible, even when paved with billions of dollars in Western aid.

  • *Joins rival UniCredit in cleaning up balance sheet ahead of EU review. MILAN, March 28- Intesa Sanpaolo, Italy's biggest retail bank, posted a surprise net loss of 4.55 billion euros on Friday due to heavy writedowns on bad loans and impairments on some units, but said it was now on course to rebuild profits.

  • At the Reuters ASEAN Summit, two of the country's largest companies, Siam Cement PCL and Charoen Pokphand Foods PCL, outlined growth strategies that are now firmly focused outside their home country.

  • PARIS, March 28- The combined debt burden of the biggest developed economies will surpass this year record levels seen at the end of World War II, adding pressure on governments as they roll over post-crisis debts, the OECD said on Friday.

  • LONDON, March 28- The euro and benchmark German bond yields slid to three-week lows on Friday as a surprise fall in Spanish inflation bolstered investors' bets the European Central Bank will ease policy next week to ward off the threat of deflation.

  • *China investment promise boosts basic resources. LONDON, March 28- European shares rose in early deals on Friday and looked set to post gains for a second straight week after basic resources stocks received a boost from plans by China to boost investment.