Latest Business News Wires - Business Headlines


  • May 7- AOL Inc on Wednesday reported its quarterly profit fell, missing expectations as it sheds businesses and upgrades its advertising operations, sending its stock tumbling 22 percent.

  • *Putin comments on Ukraine may ease geopolitical tensions. *Gold prices decline, U.S. dollar index edges up. NEW YORK, May 7- Stock markets around the world were flat on Wednesday as investors digested comments from Russian President Vladimir Putin that indicated a possible easing to the geopolitical concerns over Ukraine that have recently weighed on markets.

  • *Whole Foods tumbles after earnings, outlook. Stocks such as Amazon.com Inc, down 1.9 percent at $291.50, Facebook Inc, down 2.3 percent at $57.17 and Google Inc, down 1.5 percent at $514.88, all weighed heavily on the Nasdaq, which has shed more than 2 percent over the past two sessions.

  • May 7- King Digital Entertainment Plc's stock plummeted about 10.5 percent on Wednesday, even as the maker of the popular mobile game "Candy Crush Saga" reported better-than-expected first-quarter results. The stock has not touched its IPO price of $22.50 since King went public on March 26.

  • *Worries that broader sanctions will include Russia corp debt. LONDON, May 7- Confusion over the legal implications of sanctions on Russia and worries about further, harsher restrictions from the West are making investors cautious about owning bonds issued by Russian companies.

  • TORONTO, May 7- Tim Hortons Inc, Canada's biggest coffee and doughnut chain, posted first-quarter results that fell short of analysts' expectations, with fewer customers visiting established stores and the company spending more on growth.

  • Global business growth eases in April - PMI Wednesday, 7 May 2014 | 11:00 AM ET

    JPMorgan's Global All-Industry Output Index, produced with Markit, fell to 52.8 from March's 53.5 but held above the 50 mark that divides growth from contraction for the 19th month running.

  • LONDON, May 7- U.S. crude oil prices jumped by more than 1 percent on Wednesday after a government report showed a sharp drop in inventories in the United States. Brent crude was pressured after Russia called for separatists in the east of Ukraine to postpone an independence referedum.

  • *Offer priced at 2- 2.6 euros a share- sources. ATHENS/ LONDON, May 7- The National Bank of Greece has set the price range for a share placement worth up to 2.5 billion euros, which bankers said was the latest deal by a Greek lender to see strong demand from investors.

  • FOREX-Dollar extends gains despite dovish Yellen comments Wednesday, 7 May 2014 | 10:53 AM ET

    NEW YORK, May 7- The dollar rose broadly on Wednesday after traders removed short positions against the U.S. currency on the view that persistently dovish comments from the Federal Reserve have become less effective in weakening the dollar.

  • WASHINGTON, May 7- The following are highlights of Federal Reserve Chair Janet Yellen's testimony on the U.S. economic outlook to the congressional Joint Economic Committee on Wednesday. Full text of Yellen's prepared testimony: Story on Yellen's remarks:.

  • *Forecasts 2nd- quarter revenue $2.50 bln- $2.53 bln vs est. May 7- Technology outsourcing company Cognizant Technology Solutions Corp said growth in its North America healthcare business would remain slow this quarter due to lower spending by customers as they adjust to changes brought on by Obamacare.

  • *Euro would need to reach $1.42 for ECB action. LONDON/ BANGALORE, May 7- The euro needs to reach $1.42 before the European Central Bank is spurred to act and weaken the currency, something the vast majority of strategists polled by Reuters also said is unlikely to happen.

  • *Japan, EU pressure Russia over Ukraine crisis. BRUSSELS, May 7- The European Union and Japan.

  • WASHINGTON, May 7- Federal Reserve Chair Janet Yellen said on Wednesday the U.S. economy was still in need of lots of support from the central bank given the "considerable slack" in the labor market, and she cited weakness in the housing sector as a fresh risk.

  • *Cameron hints Britain could intervene in takeover deal. LONDON, May 7- Prime Minister David Cameron demanded U.S. drugmaker Pfizer give stronger guarantees it will keep jobs and investment in Britain in order to secure his government's blessing for a takeover of AstraZeneca.

  • FACTBOX-Companies feeling the effects of Ukraine crisis Wednesday, 7 May 2014 | 10:31 AM ET

    LONDON, May 7- Companies reporting results in recent weeks have been casting an increasingly nervous eye over the situation in Ukraine and the impact of a possible broadening of U.S. sanctions against Russia and Moscow's threat of responding in kind.


  • May 7- Mondelez International Inc and rival D.E Master Blenders 1753, who make Kenco and Douwe Egberts brands respectively, will join up in a deal that creates the world's biggest pure-play coffee company to take on market leader Nestle.

  • WASHINGTON, May 7- Federal Reserve Chair Janet Yellen prepared the following remarks on the U.S. economic outlook for her testimony to the congressional Joint Economic Committee on Wednesday. Current Economic Situation and Outlook.