Latest Business News Wires - Business Headlines


  • MOSCOW, May 7- The RTS index of Russian stocks rose nearly 6 percent on the day on Wednesday after President Vladimir Putin called on separatists in eastern Ukraine to postpone a referendum on self-government. Putin also said Russia would do all it can to resolve the Ukraine crisis and support international peace efforts.

  • TOKYO, May 7- SoftBank Corp's billionaire CEO Masayoshi Son said his company would not cash in any of its stake in Chinese online retailer Alibaba when it lists in New York in what could be the largest market debut ever by a technology company.

  • GENEVA, May 7- Huge yellow and blue diamonds are expected to fetch strong prices at Geneva jewellery sales next week, as investors seek rare stones fresh to a healthy market, auction houses said on Wednesday. The "Graff Vivid Yellow", star lot at Sotheby's on May 13, is a yellow diamond weighing 100.09 carats that was cut by the London- based top jeweller Laurence Graff.

  • DONETSK, Ukraine, May 7- Behind the barricades of tyres and car bumpers, past the masked militants who hold Donetsk's filthy administration building, there is a man in a suit in a spotless office, working from an Apple iMac on a vote to dismember Ukraine. But, he said, "we simply cannot live any more within Ukraine. Ukraine has already de facto said goodbye to us. "

  • VILNIUS/ RIGA, May 7- Estonia, Lithuania and Latvia depend on Russia for all their gas imports, but they each have defences in place to ensure sufficient energy supplies if Moscow cuts off gas exports in an escalation of the Ukraine crisis.

  • NEW YORK, May 7- U.S. Treasury prices eased on Wednesday, lifting yields as the government readied a sale of $24 billion of new debt and traders braced for possibly market-rattling congressional testimony by Federal Reserve Chair Janet Yellen.

  • May 7- AOL Inc reported a rise in first-quarter revenue on Wednesday, boosted by a surge in advertising sales through its automated electronic exchange, but profit fell. Shares of AOL dropped 12 percent to $38.62 as the company reported adjusted earnings per share of 34 cents.

  • *CEO says eyes acquisition opportunities from Lafarge/ Holcim merger. HEIDELBERG, Germany, May 7- HeidelbergCement could seize opportunities to snap up assets from rivals Lafarge and Holcim which may be forced into disposals to get the go-ahead from regulators for their planned merger.

  • NEW YORK, May 7- U.S. stocks rose at the open on Wednesday, on the heels of the biggest drop in the S&P 500 since mid-April, as earnings season winds down and ahead of congressional testimony from Federal Reserve Chair Janet Yellen.

  • May 7- Corcept Therapeutics Inc said it would stop a late-stage trial of its lead product, a depression drug, after an interim analysis suggested the study was unlikely to be successful, sending its shares down 51 percent. The drug, mifepristone, was being developed for treating psychotic symptoms in patients with major depressive disorder.

  • *Prices lose support from stand-off in Ukraine. LONDON, May 7- Gold prices fell on Wednesday after Russian President Vladimir Putin said he was ready to discuss a way out of the Ukraine crisis, and ahead of congressional testimony from Federal Reserve Chair Janet Yellen.

  • *Repsol sells 11.86 percent of YPF to Morgan Stanley. The sale to Morgan Stanley, which follows a $5 billion settlement with Argentina over its 2012 expropriation of a 51 percent stake in YPF from Repsol, ends a thorny chapter in the Spanish company's history.

  • KIEV, May 7- A gas price dispute with Russia must be resolved by June so Ukraine can guarantee stable flows to Europe and avoid a new gas war, Ukrainian Energy Minister Yuri Prodan said.

  • ZURICH/ FRANKFURT May 7- Swiss Re and Hannover Re, the world's no. 2 and 3 reinsurers, said they saw lower prices in natural disaster reinsurance and April renewals, as they beat profit expectations in the first quarter. "We are not slaves to volume, and we will certainly not write business to fulfill some top line aspirations," said Swiss Re Chief Executive Michel Lies.

  • *Whole Foods tumbles after earnings, outlook. *Developments in Ukraine helped sentiment, as Russian President Vladimir Putin said Wednesday he was ready to discuss a way out of the crisis with the head of the Organization for Security and Co-operation in Europe.

  • *First-quarter productivity slumps at a 1.7 percent rate. WASHINGTON, May 7- U.S. nonfarm productivity fell at its fastest pace in a year in the first quarter as output slowed sharply, leading to a jump in labor-related production costs.

  • May 7- King Digital Entertainment Plc, maker of the popular mobile game "Candy Crush Saga", reported better-than-expected first-quarter results, helped by higher gross bookings for its hit puzzle game "Farm Heroes Saga". The stock has not touched its IPO price of $22.50 since King went public on March 26.

  • Corcept Therapeutics stops depression drug trial Wednesday, 7 May 2014 | 8:50 AM ET

    May 7- Corcept Therapeutics Inc said it would stop a late-stage trial of its drug for depression after an interim analysis suggested the study was unlikely to be successful. The analysis of data from the first 226 patients enrolled in the trial showed that the drug failed to significantly reduce psychotic depression symptoms.

  • May 7- Mondelez International Inc and Dutch coffee and tea company D.E Master Blenders 1753 BV said on Wednesday they would combine their coffee businesses, as the U.S. company focuses on snacks such as Cadbury chocolate and Oreo cookies.

  • European shares edge higher, earnings support Wednesday, 7 May 2014 | 8:38 AM ET

    *Results from Credit Agricole, Henkel help market. Germany's Henkel rose 4 percent after beating expectations with results, while Coloplast gained 3.3 percent after beating forecasts and raising its revenue outlook.