Latest Business News Wires - Business Headlines


  • EU steelmakers restart blast furnaces, constrain recovery Wednesday, 11 Jun 2014 | 10:44 AM ET

    Still, prices of the alloy are not far off their lowest level in four years, constrained primarily by a 30 percent price decline in raw materials such as iron ore, but also by plentiful supplies in Europe.

  • METALS-Zinc hovers near 15-month peak, copper steadies Wednesday, 11 Jun 2014 | 10:39 AM ET

    *Shanghai copper premiums fall $10 to $70- $90- Shmet. LME copper steadied at $6,881.25 a tonne, up 0.1 percent, after touching $6,628 a tonne on Tuesday, its lowest since May 7 on worries that copper financing in China will be harder to come by as the port probe runs its course.

  • BOGOTA, June 11- Colombia is keeping open the option of selling a 100- year bond this year to finance part of its 2015 budget, the finance minister said on Wednesday, after an investment bank proposed to issue sovereign debt with a century-long maturity last week.

  • Supply tremors shake OPEC equilibrium Wednesday, 11 Jun 2014 | 10:38 AM ET

    *Iraq fears join Libya and Iran supply uncertainty. VIENNA, June 11- OPEC sailed through a brief, calm meeting on Wednesday- even as oil prices rose to $110 on barrel on concern renewed strife could hit Iraq's output and deepen a supply shortfall from chaotic Libya and sanctions-bound Iran.

  • NEW YORK, June 11- U.S. Treasury debt prices edged higher on Wednesday after three days of selling, helped by lower risk appetite, with Wall Street shares trading weaker and overall caution ahead of a 10- year note auction later in the session.

  • PARIS, June 11- France's third-placed mobile operator Bouygues Telecom plans to get rid of 17 percent of its staff, or some 1,516 workers, in a bid to cut costs to ensure its independence in a turbulent market where prices fell by one-third last year.

  • Obama budget nominee pledges to boost growth, cut deficit Wednesday, 11 Jun 2014 | 10:33 AM ET

    WASHINGTON, June 11- President Barack Obama's nominee to head the White House Office of Management and Budget, Shaun Donovan, told a Senate panel on Wednesday he would continue to cut budget deficits while finding ways to spend more on programs intended to boost growth.

  • WASHINGTON, June 11- China needs to speed progress towards a more open economy despite potential fallout from needed reforms, U.S. The U.S. will urge China to accelerate progress towards a market economy at high-level talks scheduled between the two countries in July, he said.

  • *World Bank cuts global 2014 outlook. In a cautious note, the World Bank late Tuesday cut its global economic growth forecast for 2014 to 2.8 percent from 3.2 percent due to the impact of the Ukraine crisis and a harsh U.S. winter.

  • UPDATE 1-Lilly's Cyramza fails in liver cancer trial Wednesday, 11 Jun 2014 | 10:13 AM ET

    June 11- Eli Lilly and Co's recently approved stomach cancer drug Cyramza failed to prolong the lives of patients with advanced liver cancer in a late-stage trial, the drugmaker said on Wednesday.

  • LONDON, June 11- European equity markets fell on Wednesday as a profit warning from German airline Lufthansa hit travel stocks. Air France KLM fell 6.1 percent, International Consolidated Airlines Group dropped by 3.5 percent and the regional STOXX Europe 600 Travel& Leisure Index fell 1.5 percent, making it the worst-performing equity sector.

  • June 11- Chinese e-commerce company Alibaba Group Holding Ltd unveiled its first direct-to-consumer online shop in the United States on Wednesday, looking to take on Amazon.com Inc and eBay Inc on their home turf.

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


  • UPDATE 1-Putin accuses Ukraine of sabotaging gas talks Wednesday, 11 Jun 2014 | 9:50 AM ET

    *Gas central to relations between Russia, Ukraine and EU. BRUSSELS/ NOVO-OGARYOVO, Russia, June 11- Russian President Vladimir Putin accused Ukraine on Wednesday of forcing gas talks into a "dead end" by rejecting a price cut offer made amid a row threatening supplies to the rest of Europe.

  • Airbus, Rolls-Royce share prices fall. TOULOUSE, June 11- Airbus suffered what could be the jet industry's worst cancellation and a setback to its newest aircraft on Wednesday when Dubai's Emirates scrapped a $16 billion order for the A350, hitting shares in the planemaker and engine firm Rolls-Royce.

  • NEW YORK, June 11- U.S. stock index opened lower on Wednesday, as investors struggled to find reasons to keep buying with indexes still hovering near record levels.

  • BRUSSELS, June 11- The European Commission, Russia and Ukraine again failed to solve a gas price row at talks on Wednesday, but said they would remain in touch ahead of a new deadline on Monday when Gazprom is threatening to cut off Ukraine's supplies.

  • COLUMN-U.S. fracking giant goes to China: Kemp Wednesday, 11 Jun 2014 | 9:25 AM ET

    LONDON, June 11- Start-of-the-art American fracking technology is coming to China's vast shale deposits as a result of a joint venture between FTS International and Sinopec announced on Tuesday. Since 2012, it has concluded joint ventures with local partners in Brazil as well as Saudi Arabia and Oman.

  • *MasterCard generates real-time data from payments processing. *MasterCard growing fast in e-commerce, emerging markets.