Latest Business News Wires - Business Headlines


  • MOSCOW, Dec 16- The exposure of Russian banks to Ukraine is "highly insignifant" and amounts to less than 1 percent of their assets, Russia's central bank said on Monday. Russia's banking sector is owed a total of $11 billion by Ukrainian residents, and owes them $1.3 billion, the Bank of Russia said in emailed comments in response to questions from Reuters.

  • "This past weekend, the Northeast was a mess with snow starting on Saturday and continuing into Sunday, perhaps encouraging shoppers to postpone shopping to the coming week, buy more online, or just wait for Super Saturday weekend," Topeka Capital Markets analyst Dorothy Lakner wrote in a note.

  • NEW YORK, Dec 16- New York state's manufacturing sector rebounded slightly in December from its weakest level in six months while the region's business outlook stayed relatively upbeat, a report from the New York Federal Reserve released on Monday showed.

  • Dec 16- Avago Technologies Ltd, whose chips are used in Apple Inc's products, said it would buy LSI Corp for $6.6 billion to enter the fast-growing storage chip market. Avago's shares rose nearly 16 percent to $52.97 before the bell on Monday.

  • Valeant to acquire Solta Medical for $236 million Monday, 16 Dec 2013 | 8:36 AM ET

    Dec 16- Valeant Pharmaceuticals International said on Monday it would acquire Solta Medical Inc for about $236 million in cash, giving it access to products used in procedures such as skin rejuvenation, skin tightening and body contouring.

  • NY factory conditions recovers a tad in Dec-NY Fed Monday, 16 Dec 2013 | 8:31 AM ET

    NEW YORK, Dec 16- New York state's manufacturing sector rebounded slightly in December from its weakest level in six months while the region's business outlook stayed relatively upbeat, a report from the New York Federal Reserve released on Monday showed.

  • U.S. productivity rises by most in nearly four years Monday, 16 Dec 2013 | 8:30 AM ET

    WASHINGTON, Dec 16- U.S. nonfarm productivity rose the most in nearly four years in the third quarter but a drop in unit labor costs underlined a lack of inflation pressure, bolstering arguments for the U.S. Federal Reserve to maintain its massive monetary stimulus.

  • *Wheat toils under rising global supply. PARIS/ SYDNEY, Dec 16- U.S. corn futures fell for a third consecutive session on Monday, bringing cumulative losses to 4 percent, on concerns China could reject more U.S. corn and hamper efforts to shift a record-large U.S. harvest.

  • Dec 16- Cubist Pharmaceuticals Inc said its experimental antibiotic for treating abdominal infections was found as effective as a widely used antibiotic in a late-stage trial. The company's shares rose about 8 percent to $68 in premarket trading. Cubist shares closed at $62.78 on Friday on the Nasdaq.

  • LONDON, Dec 16- Brent crude oil rose above $110 a barrel on Monday as supply concerns resurfaced after Libya failed to reach a deal with tribal leaders to end a blockade of several oil-exporting ports. Brent futures for January rose $1.97 a barrel to a high of $110.80 before easing to around $110.65 by 1300 GMT, up $1.82.

  • *German union to take complaints to Amazon head office. *Amazon set to keep expanding in 2nd- biggest market Germany. Germany is Amazon's second-biggest market behind the United States and sales there grew almost 21 percent in 2012 to $8.7 billion, a third of its overseas total.

  • NEW YORK, Dec 16- With college costs already astronomical and rising, saving for them isn't just a year-end thing. In Illinois, for example, contributions of up to $10,000 a year for an individual or $20,000 for a couple filing jointly are deductible for state income tax purposes.

  • Endo Health to acquire Nupathe for $105 million Monday, 16 Dec 2013 | 7:56 AM ET

    Dec 16- Specialty pharmaceutical company Endo Health Solutions Inc said it would buy NuPathe Inc for about $105 million to gain access to NuPathe's migraine treatment, Zecuity. NuPathe shareholders will get $2.85 per share, a premium of 24 percent to the stock's Friday close. NuPathe shares jumped nearly 61 percent to $3.70 in trading before the bell.

  • LONDON, Dec 16- The euro rose against the dollar on Monday as data showed euro zone showed business activity picking up while uncertainty over the Federal Reserve's stimulus kept investors wary of the U.S. currency.

  • "Chile has looked at itself, has looked at its path, its recent history, its wounds, its feats, its unfinished business, and this Chile has decided it is the time to start deep transformations," Bachelet told a jubilant crowd of supporters on Sunday night as confetti rained down.

  • Renault plans SUVs to buck slowing China growth Monday, 16 Dec 2013 | 7:45 AM ET

    PARIS, Dec 16- Renault plans to harness its Formula One renown and alliance with Nissan to build a 3 percent market share as a latecomer to China, after signing a joint venture deal with Dongfeng Motor Group on Monday. Renault owns 43.4 percent of Nissan Motor Co.

  • *BlackRock says has 7.8 pct direct stake in Telecom Italia. *BlackRock stake seen decisive also for Brazil strategy.

  • Dec 16- American International Group Inc said it would sell its aircraft-leasing business to AerCap Holdings NV in a deal valued at about $5.4 billion, marking the insurer's exit from its last non-core business. The deal includes $3 billion in cash and 97.56 million newly issued AerCap common shares, AIG said on Monday.

  • *Fed meeting in view, investors looking for stimulus clarity. *Charter prepping offer letter for Time Warner Cable: source. NEW YORK, Dec 16- U.S. stock index futures were little changed on Monday, suggesting investors were reluctant to buy even after a steep decline last week, as they turned their focus to an upcoming Federal Reserve policy meeting.

  • *Telecom Italia up on news of BlackRock stake increase. LONDON, Dec 16- European shares rebounded on Monday as encouraging economic data out of the euro zone outweighed concern over the outlook for U.S. monetary policy, with Aggreko leading gainers after a bullish trading update.

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