Latest Business News Wires - Business Headlines


  • *Spain, Italy gains ease as quarter ends. *Spain court ruling, Italian reforms provide relief. LONDON, Sept 30- Investors' love affair with low-rated but high-yielding euro zone bonds is starting to wane, as political risks dent faith that the European Central Bank alone will be able to ensure the bloc's recovery.

  • MADRID, Sept 30- A raft of new cancer drugs promise better, longer-lasting treatments with fewer adverse side effects-- but their high cost is a growing concern. Price-- just as much as safety and efficacy-- has proved a hot topic for nearly 20,000 oncology experts at the European Society for Medical Oncology annual congress in Madrid.

  • Gross, a 70- year-old with a fabulous long-term record of performance as a bond manager but some rocky recent data, resigned suddenly on Friday from Pimco to jump to smaller rival Janus Capital, a move reports said came just before he was to be dumped.

  • Sept 30- U.S. drugstore chain operator Walgreen Co reported a 6.2 percent rise in quarterly sales, helped by higher prescription sales, sending its shares up more than 3 percent in premarket trading.

  • UPDATE 1-EBay to spin off PayPal in 2015 Tuesday, 30 Sep 2014 | 7:36 AM ET

    Sept 30- EBay Inc said it would spin off PayPal, its fast-growing payments business, into a publicly traded company in the second half of 2015, marking an about-face for the company. EBay Chief Executive John Donahoe had resisted demands by activist investor Carl Icahn to hive off the service, saying PayPal was integral to eBay's business- and vice versa.

  • *Euro slips below $1.26 for 1st time in 2 years. LONDON, Sept 30- The dollar surged to a four-year high against a basket of currencies and a two-year high against the euro on Tuesday after euro zone inflation fell in September, putting the greenback on track for its best quarter in six years.

  • EU budget rules - how much wiggle room is there? Tuesday, 30 Sep 2014 | 7:32 AM ET

    *Credibility of EU deficit curbs at stake in France, Italy. *France has less scope because deficit above 3 pct limit. Interpreting how much wiggle room the EU treaties offer has become a new source of contention among governments, a North-South divide pitting Italy and France against Germany that poses its own risks to the stability of the 15- year-old currency.

  • DUBAI, Sept 30- Gulf banks are feeling the pinch of rapidly shrinking corporate loan margins, with some predicting a bounce in lending rates as soon as the first half of 2015 as the escalating price war bites into profitability.

  • DUBAI/ RIYADH, Sept 30- The decision by Saudi Arabia and the United Arab Emirates to join air strikes in Syria reflects an increasingly muscular foreign policy by the Gulf Arab heavyweights that has already started to reshape the balance of power in the Middle East.

  • Sept 30- Rupert Murdoch's News Corp said it would buy Move Inc, the owner of property websites such as realtor.com, for about $950 million to expand its digital marketing business. Australian real estate website REA Group Ltd, which is 61.6 percent owned by News Corp, will take a 20 percent stake in Move for about $200 million, News Corp said.

  • BEIJING, Sept 30- China cut mortgage rates and downpayment levels for some home buyers on Tuesday for the first time since the 2008 global financial crisis, making one of its biggest moves this year to boost an economy increasingly threatened by a sagging housing market.

  • EBay to spinoff PayPal in 2015 Tuesday, 30 Sep 2014 | 7:10 AM ET

    "A thorough strategic review with our board shows that keeping eBay and PayPal together beyond 2015 clearly becomes less advantageous to each business strategically and competitively," eBay Chief Executive John Donahoe said in a statement.

  • Russia's RusHydro targets more Asian investment Tuesday, 30 Sep 2014 | 7:08 AM ET

    *RusHydro feels no adverse effect from Western sanctions. MOSCOW, Sept 30- Russia's largest hydropower producer, RusHydro, is planning an extensive roadshow to attract investment from China and Singapore, seeking to strength business ties with Asia as Moscow's relations with the West cool.

  • BRUSSELS, Sept 30- Sweden's Cecilia Malmstrom won European Parliament backing on Tuesday to become the European Union's next trade chief, people close to the matter said.

  • But critics have alleged the technology could pose health risks, and while China allows imports of some GMO crops it is yet to permit domestic cultivation. China has imported millions of tonnes of GMO soybeans each year for the past decade to feed the world's largest stock of farmed pigs and to produce around 40 percent of the county's vegetable oil needs.

  • LONDON, Sept 30- ICAP, the world's biggest interdealer broker, reported a pick-up of trading in September and said a potential tie-up between rivals could bring further relief to an industry battered by retrenching investment banks and subdued markets.

  • SHEKHAN, Iraq, Sept 30- For Salah Paulis, it came down to a choice between his faith and his crop. A wheat farmer from outside Mosul, Paulis and his family fled the militant group Islamic State early last month. The group overran the family farm as part of its offensive that captured vast swathes of territory in northern Iraq.

  • SAN FRANCISCO, Sept 30- Google Inc is planning new and revamped streaming-music services in coming weeks, searching for a way to stand out in an increasingly crowded field of rivals from Apple Inc and Amazon.com Inc to Spotify. Nailing music is one way for Google to raise chances of continued success as people spend more time on mobile devices.

  • UPDATE 1-PennTex Midstream Partners LP files for IPO Tuesday, 30 Sep 2014 | 6:59 AM ET

    Sept 30- PennTex Midstream Partners LP, a master limited partnership formed by PennTex Midstream Partners LLC, filed with U.S. regulators for an initial public offering of common units.

  • *Gold on track for 5.5 pct drop in September. LONDON, Sept 30- Gold fell on Tuesday, as the dollar and European stocks climbed, with the metal set to post its sharpest monthly loss since June 2013 and the first quarterly loss this year on expectations of further gains in the U.S. currency.