Latest Business News Wires - Business Headlines


  • SHANGHAI, June 5- Chinese censors are investigating 52 websites owned by firms including top search engine Baidu Inc and online video business Youku Tudou Inc over the distribution of violent and pornographic content, the official Xinhua news agency said on Thursday.

  • BERLIN/ BRUSSELS, June 5- Soaring euro zone retail sales and a rebound in German industrial orders on Thursday offered a sign that a fragile economic recovery which has yet to reach many European households may be gaining momentum. That suggests output in Europe's largest economy will pick up in the coming months.

  • *Standard Chartered suspends some metals financing-sources. *Shanghai premiums fall $10 to $95- $115- Shmet. Copper dipped after a bank suspended some metals financing due to a Chinese port investigation, prompting worries the probe may lead to liquidation of finance deals.

  • June 5- Canadian natural gas and electricity retailer Just Energy Group Inc said it would sell its Ontario- based water heater and air conditioning home services business for $505 million to pay down debt.

  • LONDON, June 5- The Bank of England stuck to its plan to nurse the economy back to full health with record low interest rates on Thursday, despite strong growth and fast-rising house prices.

  • June 5- Mining equipment maker Joy Global Inc reported a 59 percent drop in quarterly profit as miners cut spending on underground mining equipment in the face of weak coal prices. Joy Global, which gets about two-thirds of its revenue from coal miners, said pricing in the metallurgical coal markets in the first three months of 2014 was the weakest since 2009..

  • FRANKFURT, June 5- Deutsche Bank priced its rights issue at a higher than expected 22.50 euros per share on Thursday, raising more capital than initially anticipated to fortify its regulatory ratios and fund a restructuring.

  • BERLIN, June 5- Audi posted its fifth double-digit percentage sales rise in six months in May, supporting its bid for the global luxury car-sales crown in a tightening race with German rival BMW.

  • HONG KONG/ SYDNEY, June 5- Standard Chartered has suspended new metal financing to some customers in China, three sources familiar with the matter said, as banks and trading houses review their exposure after a probe into trade financing at the port of Qingdao.

  • LONDON, June 5- Britain's Serious Fraud Office is examining information related to a global investigation into the possible manipulation of currency markets, although it has yet to open a criminal investigation, it said on Thursday.

  • ROME, June 5- The United Nations food agency raised its outlook for world cereal production and stocks on Thursday as expectations that ample supply of most food commodities would continue dragged prices down for the second month in a row.

  • June 5- Natural gas and electricity retailer Just Energy Group Inc said it would sell its water heater and heating ventilation and air conditioning home services business to Reliance Comfort Ltd Partnership for $505 million.

  • *Euro holds near lows, seen hostage to ECB decision. *ECB expected to cut rates, may unveil loan programme. LONDON, June 5- European shares held steady and the euro hovered near four-month lows against the dollar on Thursday, with the common currency hostage to expectations the European Central Bank will ease monetary policy to support a fragile economic recovery.

  • France's Hollande seeks to widen BNP fine debate Thursday, 5 Jun 2014 | 6:13 AM ET

    PARIS/ BRUSSELS, June 5- French President Francois Hollande sought to widen the basis of his fight against a possible $10 billion U.S. fine facing bank BNP Paribas ahead of a meeting with Barack Obama on Thursday, warning of "consequences across the euro zone".

  • June 5- Microblogging platform Twitter Inc has been in talks with Berlin- based audio sharing website SoundCloud in its efforts to add a music service to its offering, the Financial Times reported citing people familiar with the matter.

  • LONDON, June 5- Gold was trading above a four-month low on Thursday ahead of a European Central Bank meeting but looked vulnerable to more losses if the central bank meets expectations to cut rates, a move that could weaken the euro against the dollar.

  • June 5- Dutch bank ING aims to list its insurance arm in the next two months via a public share offer, it said on Thursday, the last major step it needs to take in its reformation since being bailed out by the Dutch state during the financial crisis.

  • UK fraud prosecutor "examining data" in FX fixing row Thursday, 5 Jun 2014 | 5:58 AM ET

    LONDON, June 5- Britain's Serious Fraud Office is examining data related to a global investigation into the possible manipulation of currency markets, but has yet to open a criminal investigation, it said on Thursday.

  • Poor rains in India, where farmers depend on the annual June-September monsoon to irrigate nearly half their land, typically stoke inflation- a key worry for Prime Minister Narendra Modi's newly formed government. India has sold a total of about 11.5-12 million tonnes of wheat overseas in the past two years, dragging on global prices.

  • Euro zone April retail sales strongest in 7 years Thursday, 5 Jun 2014 | 5:05 AM ET

    *Sales up 2.4 pct y/y, strongest since March 2007. BRUSSELS, June 5- Retail sales in the euro zone registered their strongest annual growth in seven years in April, outstripping expectations and suggesting Europeans may be willing to start spending again to support the fragile recovery.