Latest Business News Wires - Business Headlines


  • May 7- JPMorgan Chase& Co said on Wednesday it was closing the U.S. accounts of current and former foreign government officials to avoid the high compliance costs associated with these accounts.

  • NEW YORK, May 7- Global oil prices rose by more than $1 a barrel on both sides of the Atlantic on Wednesday as an unexpected drop in United States inventories supported U.S. crude and escalating tensions in Libya pushed Brent higher.

  • US to oil shippers: No more unannounced visits Wednesday, 7 May 2014 | 3:20 PM ET
    A train is derailed west of Casselton, North Dakota

    U.S. companies moving crude via rail must tell states when a cargo is moving across their jurisdiction, the Transportation Secretary said.

  • May 7- King Digital Entertainment Plc's stock plummeted about 15 percent on Wednesday as signs that the company may be losing steam overshadowed better-than-expected quarterly results from the maker of hit mobile game "Candy Crush Saga." King's shares dropped to $15.90 in afternoon trading.

  • WASHINGTON, May 7- A slumping housing market and geopolitical tensions risk undermining the U.S. economy and bear close watching by the Federal Reserve, the central bank's chief said on Wednesday.

  • WASHINGTON, May 7- The U.S. financial risk council adopted new transparency measures on Wednesday, after critics raised concerns the group was too secretive about its decision-making process. In a unanimous vote, the Financial Stability Oversight Council agreed to give the public seven days' notice about upcoming meetings and agenda items.

  • WASHINGTON, May 7- The U.S. Department of Transportation has rebuffed a call by two Democratic senators to advise owners of 2.6 million recalled General Motors cars to stop driving them until they are repaired.

  • TREASURIES-Prices mostly up as Yellen stays dovish Wednesday, 7 May 2014 | 3:08 PM ET

    NEW YORK, May 7- U.S. Treasuries gained on Wednesday after America's top central banker said the world's largest economy remained on the mend but still required substantial monetary accommodation from Washington policymakers.

  • NEW YORK, May 7- Two-thirds of commodity hedge funds lost money in the first quarter, extending last year's dismal run, possibly because they bet against higher crop and energy prices in a rallying market, data from futures broker Newedge and banker HSBC showed on Wednesday.

  • WASHINGTON, May 7- U.S. companies moving crude oil via rail must tell state officials when a cargo is moving across their jurisdiction, the U.S.

  • May 8- Toshiba Corp will offer to buy Alstom's power grid business for "several hundred billion yen" if General Electric Co completes its planned purchase of Alstom's energy business, the Nikkei newspaper reported. GE has offered to buy Alstom's energy business, which makes power generation systems along with power grids, for about $16.9 billion.

  • U.S. consumer credit posts largest gain in a year Wednesday, 7 May 2014 | 3:00 PM ET

    WASHINGTON, May 7- U.S. consumer credit recorded its largest increase in a year in March, boosted by growing demand for student loans and household borrowing to buy automobiles. Total consumer credit increased by $17.53 billion to $3.14 trillion, the Federal Reserve said on Wednesday.

  • WASHINGTON, May 7- Oil-by-rail shippers must advise state officials when their cargo moves across the state, the U.S. Transportation secretary said on Wednesday, as officials took further steps in response to a string of fiery derailments.

  • PARIS, May 7- Briefing Pacific trading partners on progress in U.S.- Japan trade talks is an important step in moving discussions on a 12- nation trade bloc to the next level, U.S. The United States and Japan said after a leaders' summit last month they had found a path forward on access to Japan's farm and auto markets but gave no details of what was agreed.

  • May 7- Mondelez International Inc and competitor D.E Master Blenders 1753 are merging their coffee businesses in a deal aimed at taking on market leader Nestle SA. The merger announced on Wednesday will marry Mondelez's grocery coffee brands such as Carte Noire and Gevalia with D.E Master Blenders' L'OR, Pilao and Senseo brands.

  • WASHINGTON, May 7- The U.S. Department of Transportation has rebuffed a call by two Democratic senators to advise owners of 2.6 million recalled General Motors cars to stop driving them until they are repaired.

  • BUSINESS-NEWS-SCHEDULE AT 1830 GMT / 2:30 PM ET Wednesday, 7 May 2014 | 2:42 PM ET

    British PM tells Pfizer wants more commitments for AstraZeneca deal. LONDON- Prime Minister David Cameron says Britain wants more commitments from Pfizer on its $106 billion takeover bid for British pharmaceutical company AstraZeneca.

  • Argentine inflation data questioned even after reforms Wednesday, 7 May 2014 | 2:34 PM ET

    BUENOS AIRES, May 7- When Argentina revamped its consumer price index this year investors were relieved that Latin America's No. 3 economy was trying to win back the trust of financial markets after years of blatantly underreporting inflation.

  • Gannett, the parent company of USA Today, is one of the five newspaper publishers that back Classified Ventures, the entity that owns Cars.com. Cars.com helps people buy and sell cars on the Internet. Gannett has a 27 percent stake in Classified Ventures.

  • *Euronext to list on Amsterdam, Brussels and Paris exchanges- source. *Euronext will later list on its Lisbon exchange- source. A spin-off of Euronext has been expected since ICE's $11 billion deal last year to take over NYSE Euronext, parent company of the New York Stock Exchange.