Latest Business News Wires - Business Headlines


  • *Wolfsburg to miss production target of 850,000- sources. FRANKFURT, Sept 3- Volkswagen has agreed with German labor representatives to cut back on night shifts at Wolfsburg, it said on Wednesday, as it seeks to root out glitches that have stifled output of Golf cars at its largest plant.

  • AbbVie, Calico forge deal against age-related diseases Wednesday, 3 Sep 2014 | 1:03 PM ET

    Sept 3- U.S. drugmaker AbbVie Inc and Calico, a new company set up by Google Inc to cure diseases of aging, will each invest $250 million to help create Calico research facilities and collaborate on discovery and development of new medicines.

  • *Investors bet on eastern Ukraine ceasefire after Russia talks. LONDON, Sept 3- European shares rose on Wednesday and a key index climbed to a two-month high on speculation about a ceasefire in eastern Ukraine and more stimulus from the European Central Bank.

  • Sept 3- Toll Brothers Inc is finally feeling the pinch as a steep rise in home prices discourages even the most affluent Americans from buying its luxury homes. "Even though Toll targets the high-end luxury buyer, pricing has been pushed so high already that at some point the buyer is going to walk away," Morningstar Inc analyst James Krapfel told Reuters.

  • Sept 3- Costco Wholesale Corp will pay a $335,000 fine and spend about $2 million over three years to fix refrigerant leaks and make other improvements at 274 stores to settle allegations that the warehouse club operator violated the federal Clean Air Act.

  • US STOCKS-Wall St pares earlier gains, weighed by Apple Wednesday, 3 Sep 2014 | 12:53 PM ET

    NEW YORK, Sept 3- The key Nasdaq index fell on Wednesday as a drop in Apple shares pulled down the technology sector, while earlier gains in the broader S&P 500 dissipated amid uncertainty over ceasefire negotiations between Ukraine and Russia.

  • NEW YORK/ LONDON, Sept 3- Gold prices edged up on Wednesday, as lingering tensions over Ukraine and a dollar drop prompted bargain hunting and short-covering after bullion prices fell to an earlier 2-1/ 2 month low.

  • TOKYO/ BERLIN, Sept 3- Panasonic Corp unveiled a new line-up of audio products on Wednesday, reviving the Technics brand made famous by DJs after a four-year hiatus, as a growing number of fans seek out high-resolution audio instead of compressed digital music.

  • Sept 3- Amazon.com Inc's finance chief plans to step down next summer after more than a dozen years at the post, the e-commerce company said on Wednesday, at a time when more investors have been complaining about skimpy profits and high spending.

  • BRUSSELS, Sept 3- Russia's ban on imports of food from Europe, part of its response to EU sanctions imposed over the Ukraine crisis, could cost the European Union 5 billion euros a year, according to an internal EU document seen by Reuters.

  • MEXICO CITY, Sept 3- Mexico's government will finance the first stage of a new $9.15 billion airport planned for the capital via cash flow from the current airport and could issue up to 30- year bonds to finance later stages, a senior project official said on Wednesday.

  • *Zoetis explores international markets for product. CHICAGO, Sept 3- Zoetis Inc has received a conditional license from the U.S. Department of Agriculture for its vaccine against a deadly piglet virus and will begin selling it this month in the United States, the company said on Wednesday.

  • *Portugal bond sale first since bailing out BES. LONDON, Sept 3- Portugal successfully sold on Wednesday its first bond since it bailed out Banco Espirito Santo, with expectations of more monetary stimulus from the ECB spurring yield-hungry investors to snap up the 15- year paper.

  • Wet Seal CEO steps down amid declining same-store sales Wednesday, 3 Sep 2014 | 12:10 PM ET

    Sept 3- Struggling apparel retailer Wet Seal Inc brought back former Chief Executive Edmond Thomas at the helm to replace John Goodman amid mounting losses and declining same-store sales.

  • NEW YORK, Sept 3- When everyone else starts loading their backpacks and shopping the back-to-school sales, I know it is time for me to dive back into TurboTax. That's because fall is the perfect time to plan my approach to the tax forms I won't file until next April. By using the next four months strategically, I may be able to reduce the amount I have to pay then.

  • WINNIPEG, Manitoba, Sept 3- A pickup in fertilizer demand has brightened the outlook for North American potash companies who suffered through plunging prices and profits after a European trading consortium collapsed in 2013..

  • *Confusion as Ukraine, Russia announce progress towards peace. NEW YORK, Sept 3- Crude oil prices climbed by more than $1 a barrel on both sides of the Atlantic on Wednesday as oil markets bounced off multimonth lows hit in the previous session, as the prospect of peace talks between Ukraine and Russia as well as strong U.S. economic data raised demand expectations.

  • NEW YORK, Sept 3- Andrew Madoff, the son of convicted fraudster Bernard Madoff, died on Wednesday from cancer, his lawyer said. "Andrew Madoff has lost his courageous battle against mantle cell lymphoma," lawyer Martin Flumenbaum said in a statement.


  • Attorney takes on objections to Detroit bankruptcy plan Wednesday, 3 Sep 2014 | 11:49 AM ET

    DETROIT, Sept 3- Detroit's plan to adjust its debt is feasible and fair to creditors, while trying to fix city finances outside of U.S. Bankruptcy Court would lead to a blizzard of litigation, an attorney for the city said Wednesday as he completed an opening argument in the landmark bankruptcy case.