Latest Business News Wires - Business Headlines


  • May 1- Investment firm Ares Management LP cut the size of its initial public offering by about 40 percent and priced it below the expected price range, an underwriter told Reuters. The company raised about $216 million from its IPO, selling 11.4 million common units at $19 each, according to the underwriter.

  • SINGAPORE, May 2- Gold was steady on Friday after two consecutive sessions of losses, but the metal was headed for its second weekly drop in three on growing optimism about the U.S. economy and selling in the top bullion-backed exchange-traded fund. *Gold is down 1.6 percent for the week.

  • NEW YORK, May 1- The New York Attorney General's office is seeking information from exchanges and alternative trading platforms about their relationships with high frequency trading firms, as part of its probe into allegedly unfair trading practices on Wall Street, according to sources familiar with the situation.

  • TOKYO, May 2- U.S. crude oil dipped closer to testing $99 in early trade on Friday, pressured by a jump in inventories, with the benchmark contract facing a weekly decline of more than 1 percent. *U.S. crude for June delivery fell 15 cents to $99.27 a barrel by 0010 GMT, dropping for the third session in a row and putting it on course for a weekly fall of 1.3 percent.

  • *Sterling hovers near 5- year peak after robust UK data. TOKYO, May 2- Asian shares were subdued and the dollar held modest gains against the yen in early trade on Friday as markets held their breath ahead of the U.S. payrolls report later in the session- which could show the economy shaking off a severe winter.

  • American Honda recalls 24,889 Odyssey vans in the U.S. Thursday, 1 May 2014 | 8:19 PM ET

    May 1- Auto manufacturer American Honda said it would voluntarily recall 24,889 of its 2014 Odyssey vehicles in United States to replace a component that could prevent the deployment of the side curtain airbag during a crash.

  • DIARY - Emerging Markets Economic Events to May 14 Thursday, 1 May 2014 | 8:02 PM ET

    May 2- For other related diaries, please. ASTANA- 47th Annual Meeting of the Board of Governors of the Asian Development Bank. SEJONG CITY- South Korean Finance Minister Hyun Oh- seok will chair an external meeting at the government complex in Sejong for economic issues- 0100 GMT.

  • *Sterling holds near 5- year peak after upbeat UK data. SYDNEY, May 2- The dollar struggled to make any headway early on Friday, still languishing near a three-week trough against a basket of major currencies as investors stayed on the sidelines ahead of a closely watched U.S. employment report.

  • WASHINGTON, May 1- After weeks of public outcry, Netflix Inc brought its concerns about Internet neutrality directly to U.S. regulators this week in meetings with Federal Communications Commission staff, according to sources familiar with the matter.

  • May 1- Western Union Co, the world's largest money-transfer company, is counting on its huge U.S. branch network to fend off looming competition from Wal-Mart Stores Inc..

  • Calpers weighs in on Detroit pension debate Thursday, 1 May 2014 | 7:40 PM ET

    "While not binding on a bankruptcy judge in California, a decision by the 6th Circuit court in Detroit would certainly be persuasive to a judge applying the same federal bankruptcy law in a California case," Sweet said. "Furthermore, the next step after the 6th Circuit court in Detroit is the U.S. Supreme Court.

  • *Comes week before Abuja hosts World Economic Forum event. ABUJA, May 1- A suspected car bomb exploded on the outskirts of Nigeria's capital Abuja on Thursday, killing at least 15 people a week before the city was to host a conference of leaders and business executives focused on Africa's growth prospects, witnesses said.

  • WILMINGTON, Del, May 1- The largest power company in Texas, Energy Future Holdings Corp, began its bankruptcy turnaround by securing approval for an interim loan after seven hours of contentious arguments in a Delaware bankruptcy court.

  • WASHINGTON, May 1- The White House on Thursday suggested updates to laws and other measures to enhance privacy and prevent discrimination based on the data trail left by consumers on their phones and computers that companies and researchers collect and analyze.

  • May 1- SciQuest Inc, whose cloud-based software helps manage supply chains, cut its full-year profit and sales forecast as its enterprise customers delayed signing up for its services. The company, which counts Allergan, SABMiller among its customers, now expects 2014 adjusted earnings of 27- 30 cents a share on revenue of $101.6- $104.6 million.

  • Britain's RBS set to report rare quarterly profit Thursday, 1 May 2014 | 7:01 PM ET

    LONDON, May 2- Part-nationalised Royal Bank of Scotland is on Friday expected to report a quarterly attributable profit for only the sixth time since its 45 billion pound government rescue during the 2008 financial crisis.

  • May 1- The description of UPDATE 1 of the story slugged CP-CEO/ on Thursday was changed to EXCLUSIVE from INTERVIEW.

  • TORONTO, May 1- Two years after taking control of Canadian Pacific Railway, Chief Executive Hunter Harrison said his aggressive overhaul of the former industry laggard will soon hit pay dirt, with its transformation into North America's most efficient carrier.

  • WASHINGTON, May 1- A senior Democratic U.S. senator said on Thursday he would take the time needed to put together a bill granting the White House power to fast-track trade agreements while Republicans called for swift action.

  • May 1- OpenTable Inc, operator of restaurant booking website OpenTable.com, posted its first quarterly loss in five years due to higher marketing costs aimed at stemming the slide in the number of restaurants signing up for its services.