Latest Business News Wires - Business Headlines


  • HAVANA, Dec 19- For the first time since the 1959 revolution, Cubans will have the right to buy new and used vehicles from the state without government permission, official media announced on Thursday, another step toward greater economic freedom on the communist-led island.

  • European deal on banking union comes under fire Thursday, 19 Dec 2013 | 10:33 AM ET

    BRUSSELS, Dec 19- A hard-fought EU agreement on how to handle failing banks attracted sharp criticism on Thursday, with the president of the European Parliament describing it as possibly the biggest policy failure since the euro crisis erupted four years ago.

  • WASHINGTON, Dec 19- A unit of Deutsche Bank AG will pay $6.5 million to settle civil charges stemming from "serious and operational deficiencies" uncovered by regulators in its enhanced lending program, Wall Street's self-funded regulator said on Thursday.

  • Philly Fed factory index edges higher in December Thursday, 19 Dec 2013 | 10:21 AM ET

    NEW YORK, Dec 19- Growth in factory activity in the U.S. mid-Atlantic region rose slightly in December following a sharp slowing in November, a regional Federal Reserve gauge released on Thursday showed.

  • BRUSSELS, Dec 19- The European Commission warned on Thursday that Italy's proposed legislation to raise revenue from online companies including Google Inc and Amazon Inc was likely to break European Union rules.

  • IAC names CEO Blatt as chairman of newly created group Thursday, 19 Dec 2013 | 10:20 AM ET

    Dec 19- Barry Diller's IAC/Interactive Corp said Greg Blatt would step down as chief executive and become the chairman of its newly created Match Group, which would include the company's popular dating website Match.com.

  • NEW YORK, Dec 19- U.S. stocks hit session lows on Thursday following a mixed set of data, including existing homes sales which fell to their lowest in nearly a year.

  • Amgen cholesterol drug succeeds in late-stage trial Thursday, 19 Dec 2013 | 10:08 AM ET

    Dec 19- Amgen Inc said its closely watched experimental cholesterol drug succeeded in reducing the level of bad cholesterol in the blood, compared to a placebo, in a late-stage trial. The data was consistent with the results from a large mid-stage trial that showed the drug, evolocumab, lowered LDL cholesterol by 52 percent after one year of treatment.

  • ANALYSIS-Italy must earn foreign help with 2014 funding Thursday, 19 Dec 2013 | 10:06 AM ET

    MILAN, Dec 19- Italy must show political stability and convincing signs of an economic recovery to secure foreign demand for its debt in 2014, when domestic banks are expected to slow their purchases of the country's bonds.

  • WASHINGTON, Dec 19- U.S. home resales fell sharply in November to their lowest level in nearly a year, hurt by a rise in interest rates since the spring and ongoing price increases that have shut some home buyers out of the market.

  • Dec 19- Winnebago Industries Inc, the No. 1 U.S. motor home maker, reported a 51 percent jump in quarterly profit on Thursday as strong demand for its recreational vehicles prompted independent dealers to increase orders.

  • MOSCOW, Dec 19- Russian stock markets gained on Thursday after President Vladimir Putin said he would pardon jailed oil tycoon Mikhail Khodorkovsky, a boost for investors increasingly worried about political freedoms and Russia's ability to reform the economy.

  • *Fed said it would cut buying to $75 bln per month from $85 billion. *Treasury to sell $29 billion in 7- year notes at 1 p.m.. "The FOMC decided to cut the pace of its asset purchases to $75 billion a month, but offset this with a qualitative enhancement to the forward guidance," said Goldman Sachs economists in a research note.

  • Dec 19- Darden Restaurants Inc said it would sell or spin off its struggling Red Lobster chain, bowing to pressure from activist investor Barington Capital Group after reporting another quarter of sliding profits.

  • NEW YORK, Dec 19- U.S. stocks fell at the open on Thursday following data showing a rise in jobless claims, having hit record highs a day earlier after the Federal Reserve said the economy was strong enough for it to begin paring its massive stimulus.

  • NEW YORK, Dec 19- The dollar traded near a five-year high against the yen on Thursday, a day after the Federal Reserve surprised some investors by announcing its long-awaited first cut in its bond-buying program.

  • *Serco has agreed to repay 68.5 mln stg. G4S and rival Serco are already facing a criminal investigation by the Serious Fraud Office after an audit showed that they had charged the British taxpayer for tagging criminals who were not being monitored, were still in prison or were even dead.

  • DUBLIN, Dec 19- Ireland's economy grew more than twice as fast as expected in the third quarter, thanks to buoyant construction and investment, putting it on a sounder footing as it emerges from an international bailout.

  • *Facebook to offer 70 mln shares, stock drops. NEW YORK, Dec 19- U.S. stocks were set to open lower Thursday following data showing a rise in jobless claims, having hit record highs a day earlier after the Federal Reserve said the economy was strong enough for it to begin paring its massive stimulus.

  • Dec 19- Essex Property Trust Inc said it would buy BRE Properties Inc for about $4.34 billion to become the largest publicly-traded apartment REIT in the U.S. West Coast. The combined company will own about 56,000 multifamily units in 239 properties in southern and northern California and Seattle.

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