Latest Business News Wires - Business Headlines


  • TOKYO, July 7- U.S. crude oil futures were holding steady early on Monday as OPEC member Libya confirmed it will resume petroleum exports from two major ports that had been blocked for nearly a year. *Business activity in emerging markets expanded last month at its fastest rate since March 2013, boosted by strong growth in China and India, a survey showed on Monday.

  • SINGAPORE, July 7- Gold edged lower on Monday as its safe-haven appeal was dulled by global equities that were trading close to record highs on strong economic data, while speculation over an earlier-than-expected hike in U.S. interest rates also weighed on bullion.

  • MSCI's broadest index of Asia-Pacific shares outside Japan was little changed, staying just under Friday's peak and two percentage point below its 2011 peak, having risen about 7 percent so far this year. MSCI's All World share index, which tracks 45 countries, set its fourth consecutive record high on Friday, thanks to strong U.S. economic data.

  • Argentina needs to reach a deal with the holdouts who rejected its debt restructurings in the wake of its 2002 default on $100 billion in order to avoid a fresh default as it grapples with recession and dwindling foreign reserves.

  • BUENOS AIRES, July 6- Argentina's Economy Minister Axel Kicillof will head its mission to meet with a court-appointed mediator on Monday in the country's dispute with holdout investors in its bonds, the economy ministry said in a statement on Sunday.

  • SYDNEY, July 7- The dollar clung on to most of last week's payrolls-inspired gains early on Monday after a holiday in the United States all but ensured a moribund start to the week. U.S. markets were shut on Friday for the Independence Day holiday.

  • NEW YORK, July 6- Boeing Co will easily recover financially from a 19- car train derailment in Montana last week that sent three fuselages for its popular 737 jetliner tumbling down a steep embankment toward a river and damaged other plane parts, analysts said on Sunday.

  • NEW YORK, July 6- American Apparel Inc is in talks with Standard General, the New York- based hedge fund that controls 43 percent of the company's stock, to secure funding that would let the retailer pay off a $10 million loan and replace its board except for two co-chairmen, the Wall Street Journal reported on Sunday.

  • LONDON, July 6- Fund managers across the globe are optimistic about attracting more investors over the next five years, a survey by consultants EY showed, while also indicating that some managers are starting to feel the pinch from regulatory pressure over pay.

  • SEOUL, July 7- Smartphone leader Samsung Electronics Co Ltd faces a third straight quarter of profit decline that could become a fourth as cheaper models grab a bigger share of a slowing market and Apple Inc readies the launch of its iPhone 6..

  • MUMBAI, July 7- Several private Indian firms want to pay off debts by raising up to $5 billion this year through share sales, emboldened by a surge in the stock market and an anticipated economic recovery after Narendera Modi was elected as prime minister.

  • SEOUL, July 7- The billionaire founder of web portal operator Naver Corp beat back Google Inc to leave South Korea one of few countries where the U.S. search engine does not dominate. To fund expansion and close the gap, bankers familiar with the matter said Naver is considering selling shares of Line Corp in Tokyo, New York or both.

  • TASIKMALAYA, Indonesia, July 7- The closest and dirtiest presidential race in Indonesia's young democracy could be decided on Wednesday among the mosques and rice paddies of West Java, the nation's most populous province.

  • *Shipping sector under pressure to use fuels with lower emissions. SINGAPORE, July 7- Methanol, a fuel used to power light aircraft and racing cars, is being tried out as alternative for ships, highlighting its potential in an industry under pressure to cut emissions.

  • BUSINESS-NEWS-SCHEDULE AT 2100 GMT / 5:00 PM ET Sunday, 6 Jul 2014 | 4:58 PM ET

    AIX-EN-PROVENCE, France- Christine LaGarde, chief of the International Monetary Fund, indicates that the IMF may trim the Fund's growth forecasts, although she says that global economic activity should get stronger in the year's second half and accelerate in 2015..

  • WASHINGTON, July 6- The U.S. Transportation Security Administration will not allow cellphones or other electronic devices on U.S.-bound planes at some overseas airports if the devices are not charged up, the agency said on Sunday.

  • NEW YORK, July 6- Dish Network Corp shares could jump 20 percent over the next year if the Federal Communications Commission's wireless spectrum auction prompts investors to revalue the company's wireless real estate, Barron's said in a story published Sunday.

  • LOS ANGELES/ NEW YORK, July 6- "Transformers: Age of Extinction" collected $36.4 million in ticket sales over the three-day July 4 weekend, storming ahead of new films "Tammy," "Deliver Us From Evil" and "Earth to Echo" to lead the U.S. and Canadian box office for a second consecutive weekend.

  • Egypt raises taxes on cigarettes and alcohol Sunday, 6 Jul 2014 | 12:31 PM ET

    CAIRO, July 6- Egypt raised the sales tax on cigarettes by up to 120 percent on Sunday and doubled the tax on alcohol as part of a series of measures to curb the budget deficit and reform the economy. Egypt is trying to reduce its deficit to 10 percent of gross domestic product in the next fiscal year, from an expected shortfall of 12 percent in 2013/ 14..

  • LOS ANGELES/ NEW YORK, July 6- "Transformers: Age of Extinction" collected $36.4 million in ticket sales over the three-day July 4 weekend, storming ahead of new films "Tammy," "Deliver Us From Evil" and "Earth to Echo" to lead the U.S. and Canadian box office for a second consecutive weekend.