Latest Business News Wires - Business Headlines


  • LONDON/ PARIS, June 11- Taxi drivers sowed traffic chaos in Europe's top cities on Wednesday by mounting one of the biggest protests ever against Uber, a U.S. car service whose smartphone app summons rides at the touch of a button.

  • ROME, June 11- Abu Dhabi- based Etihad Airways is prepared to invest up to 1.25 billion euros in Alitalia over the next four years under a possible tie-up between the two carriers, Italian Transport Minister Maurizio Lupi said on Wednesday.

  • WASHINGTON, June 11- The Pentagon would reassess its plans to put Raytheon Co's CE-2 kill vehicle on 14 more ground-based interceptors if a key test of the system designed to protect the United States from North Korean missile attacks fails again later this month, a top Pentagon official said Wednesday.

  • NEW YORK, June 11- House Majority Leader Eric Cantor's shocking defeat isn't likely to have much effect on U.S. financial markets-- unless his departure emboldens Tea Party Republicans to again threaten a government shut-down over the debt ceiling next year, investment strategists said.

  • NEW YORK, June 11- Stocks retreated from recent highs on Wednesday, pressured by a lower World Bank growth forecast and a profit warning from Lufthansa, while crude oil rose on fears of disrupted supply from Iraq.

  • PARIS, June 11- France's third biggest mobile operator Bouygues Telecom plans to cut 1,516 jobs or 17 percent of its staff to reduce costs to ensure its survival in a market where prices are down by nearly one-third.

  • Pfizer says Astra quest failed due to price Wednesday, 11 Jun 2014 | 1:15 PM ET

    June 11- Pfizer Inc's chief financial officer on Wednesday said his company failed in its attempted $118 billion takeover of AstraZeneca Plc because they could not agree on the value of the British drugmaker. AstraZeneca shares closed up 1.2 percent in London, while Pfizer shares were little changed on the New York Stock Exchange.

  • *Baghdadi controls cross-border swathes of Syria, Iraq. BEIRUT, June 11- The leader of radical Sunni fighters who have made rapid military advances in Iraq is the rising star of global jihad, driven, Islamist fighters say, by an unbending determination to fight for and establish a hardline Islamic state.

  • ACCRA, June 11- Ghana's central bank is funding the country's budget deficit, but the amount does not exceed the limit of 10 percent of revenue collected and any excess will be redressed by the end of 2014, governor Henry Kofi Wampah told Reuters.

  • MUNICH/ PARIS, June 11- Siemens is in talks with Mitsubishi Heavy Industries over a joint bid for the energy assets of France's Alstom, a move which could help the German firm overcome antitrust hurdles.

  • *US 30-YEAR BOND PRICES FALL AFTER U.S. 10-YEAR AUCTION Wednesday, 11 Jun 2014 | 1:02 PM ET
  • UPDATE 9-Oil up near $110 on Iraq supply disruption fears Wednesday, 11 Jun 2014 | 1:00 PM ET

    *Iraq city of Mosul falls to militants. NEW YORK, June 11- Oil futures rose toward $110 a barrel on Wednesday as violence in Iraq prompted worries about the supply outlook, while a fall in U.S. gasoline stockpiles pointed to stronger seasonal demand.

  • NEW YORK, June 11- Investors in U.S.-based mutual funds poured a net $2.1 billion into stock funds in the week ended June 4, with all of the inflows going to funds focused on international stocks over pricier U.S. equities, data from the Investment Company Institute showed on Wednesday.

  • US STOCKS-Wall Street dips, but tech helps Nasdaq Wednesday, 11 Jun 2014 | 12:55 PM ET

    *Micron, Amazon rise after analysts' comments. *World Bank cuts global 2014 outlook. Investors expressed caution after the surprising primary election defeat of Eric Cantor, the No. 2 Republican in the House of Representatives, by an upstart candidate from the Tea Party movement.

  • June 11- Natrol Inc filed for bankruptcy on Wednesday, a day after a U.S. judicial panel consolidated several class actions accusing the health supplement maker of false marketing of its joint relief products.

  • WASHINGTON, June 11- General Motors Co Chief Executive Mary Barra will testify on June 18 at a U.S. House of Representatives subcommittee hearing on the automaker's ignition switch recall, the subcommittee said on Wednesday.

  • HONG KONG, June 11- At least two global banks involved in commodity financing in China have asked some clients to shift copper and aluminum, used as collateral for loans, to better regulated warehouses, three sources with direct knowledge of the matter said. Standard Chartered and South Africa's Standard Bank had already contacted clients, two sources said.

  • WASHINGTON, June 11- Legislation to allow student loan borrowers to refinance at lower interest rates failed to clear a procedural hurdle in the U.S. Senate on Wednesday, dooming a measure that was a Democratic priority ahead of November congressional elections.

  • Limits on arbitrators with Wall St. ties to go to SEC Wednesday, 11 Jun 2014 | 12:15 PM ET

    June 11- Wall Street's self-regulator will ask the U.S. Securities and Exchange Commission next week to review a plan that would restrict industry veterans from acting as arbitrators in many disputes between investors and their brokerages, an official said on Wednesday.

  • Bulgaria has walked a diplomatic tightrope over the fate of the South Stream project, which has thrust the small Balkan state into the centre of a standoff between its former Cold War ally Russia and the European Union over energy supplies.