Latest Business News Wires - Business Headlines


  • June 30- Victims of the Ponzi schemes of Bernard Madoff and Allen Stanford, two of the largest in U.S. history, suffered setbacks on Monday as the U.S. Supreme Court refused to hear appeals in two cases seeking to recoup more money for them.

  • *Billionaire says says not ready to invest in Egypt. CAIRO, June 30- Egyptian billionaire construction tycoon Samih Sawiris said he has no plans for new investments in his country while political oppression and legal failings continue to obstruct economic revival.

  • *Iraq sends tanks, armoured vehicles to fight insurgents. NEW YORK, June 30- Oil prices fell on Monday, with Brent crude dropping below $113 a barrel as investors grew less jittery about global supplies after Iraq government forces launched a pushback against a Sunni militant insurgency.

  • OPEC oil output slips in June on Iraq Monday, 30 Jun 2014 | 11:50 AM ET

    *OPEC output back below supply target of 30 million bpd. The slight decline underlines how unrest and outages in the Middle East and Africa are taking their toll on OPEC supply, just as the International Energy Agency is highlighting a greater need for OPEC oil in the rest of the year. 1/ 8 D: nL5N0OU1KF 3/ 8.

  • June 30- AT&T Inc will expand its board of directors to 14 members from 13 and has appointed Glenn Hutchins, a member of the Federal Reserve Bank of New York's board of directors, to fill the new vacancy, the company said on Monday.

  • NAIROBI, June 30- Kenya's economy expanded 4.1 percent year-on-year in the first quarter of 2014, slowing from 5.2 percent growth in the same period last year, the statistics office said on Monday. The east African nation has been hit by a spate of gun and grenade attacks in recent months, blamed on Islamists from neighboring Somalia, curbing tourist arrivals.


  • IMF signs off on latest Cyprus bailout review Monday, 30 Jun 2014 | 11:28 AM ET

    WASHINGTON, June 30- The International Monetary Fund's board on Monday confirmed Cyprus was on track with the conditions of its bailout program, enabling the immediate disbursement of 84 million euros.

  • *Solvay boosts European chemicals sector. LONDON, June 30- European equities steadied in afternoon trading on Monday, with gains in chemicals shares, led by Belgian group Solvay, offset by weaker travel and leisure stocks after easyJet slumped following a rating downgrade.

  • *U.S. pending home sales hit 8- month high in May. NEW YORK, June 30- U.S. "There is reluctance to have the same size of positions today, because traders don't want to be burned again," said Priya Misra, head of U.S. rates strategy at Bank of America Merrill Lynch in New York, referring to their bearish positions at the start of the quarter.

  • June 30- A federal appeals court on Monday revived a lawsuit against CACI International Inc, in which the defense contractor's employees were accused of directing the torture of detainees at the Abu Ghraib prison near Baghdad. CACI employees had conducted interrogation and other services at Abu Ghraib.

  • NML is at the table, ready to talk, but Argentina has refused to negotiate any aspect of this dispute, "said Jay Newman, senior portfolio manager at Elliott Management, which runs NML Capital Ltd, one of the lead holdouts in the case.

  • WASHINGTON, June 30- Contracts to buy previously owned U.S. homes hit an eight-month high in May, the latest indication that housing was pulling out of a recent soft patch.

  • *BNY Mellon shares up as Trian discloses stake. *MannKind rallies on approval of inhaled insulin.

  • *Sees Czech, Slovak opportunity, challenges in Hungary. BUDAPEST, June 30- Russia's Sberbank considers Hungary a "very difficult market" due to government policies, including tougher-than-expected new measures on foreign currency loans, a senior executive said.

  • FOREX-Dollar slides ahead of slew of U.S. data Monday, 30 Jun 2014 | 10:39 AM ET

    NEW YORK, June 30- The dollar slid to a six-week low against a basket of currencies on Monday as investors grew cautious ahead of a slew of U.S. economic data this week following dismal growth figures last Wednesday.

  • WASHINGTON- The U.S. Supreme Court on Monday ruled that in-home care workers in Illinois who are paid by the state are not similar enough to government employees to be compelled to pay union dues.

  • BUZZ-AMICUS THERAPEUTICS: ON TRACK TO REPORT TRIAL DATA@** The drugmaker's shares up 28 pct at $3.88** Says on track to report data from a late-stage trial of.

  • OTTAWA, June 30- Lower oil and gas output caused Canada's economic growth to come in lower than expected at 0.1 percent in April, according to Statistics Canada data on Monday, extending a tepid performance that economists said could reinforce central bank caution.

  • NEW DELHI, June 30- French Foreign Minister Laurent Fabius said on Monday he was confident about the outcome of talks to sell 126 Rafale fighter jets to India in a multi-billion-dollar deal that has been stalled for months.