Latest Business News Wires - Business Headlines


  • NEW YORK, June 27- Puerto Rico Aqueduct& Sewer Authority does not foresee restructuring its debt, the agency's executive president Alberto Lazaro said on Friday after a Moody's downgrade that cited a new local law allowing public corporations to restructure.

  • June 27- Women's apparel retailer Bebe Stores Inc said it would exit its unprofitable "2 b bebe" business, under which it sells affordable apparel and accessories, by July to focus on its core businesses and to cut costs. The company said the exit would lead to annual pretax savings of about $9 million- $10 million beginning in fiscal 2015..

  • District Judge Thomas Griesa in New York told lawyers representing Argentina and BNY Mellon that any attempt to make payment to bondholders without complying with his court is illegal.

  • NEW YORK, June 27- Bumble Bee Foods is preparing a sale process that could value North America's largest producer and marketer of canned tuna and sardines at as much as $1.5 billion, according to people familiar with the matter.

  • LONDON/ WASHINGTON June 27- Barclays Plc has hired lawyers from the high-profile firm Wilmer Cutler Pickering Hale and Dorr LLP to help the bank defend itself against accusations that it deceived investors in its "dark pool" trading venue, according to people familiar with the matter.

  • WASHINGTON, June 27- Quantum Energy Inc, a U.S. energy venture, intends to build a network of "micro refineries" that would produce fuel fit for export, an executive said on Friday.

  • Chemical distributor Univar files for IPO Friday, 27 Jun 2014 | 4:16 PM ET

    June 27- Univar Inc, the largest chemical distributor in North America, filed with U.S. regulators on Friday for an initial public offering of up to $100 million.

  • A three-judge panel of the 6th U.S. Circuit Court of Appeals in Cincinnati rejected claims in 67 of the cases. Among the defendants in the various cases were Eli Lilly& Co, which won regulatory approval for Darvon in 1957 and Darvocet in 1972, and generic drug makers such as Mylan Inc and Teva Pharmaceutical Industries Ltd..

  • NEW YORK, June 27- U.S. stocks ended higher on Friday, led by gains in technology shares, but DuPont's downbeat second-quarter and full year forecasts kept a lid on gains. The Dow Jones industrial average rose 5.71 points or 0.03 percent, to end unofficially at 16,851.84. The S&P 500 gained 3.74 points or 0.19 percent, to finish unofficially at 1,960.96.

  • June 27- Detroit and a group of hold-out creditors will meet on Monday over one of the last unresolved major issues in the city's historic bankruptcy case.

  • June 27- Debt in some of Puerto Rico's biggest public corporations slumped in heavy trade on Friday after a new law allowing them to restructure their debt sparked ratings downgrades and fears of imminent default.

  • Ramp up role in Bitcoin, U.S. consumer agency told Friday, 27 Jun 2014 | 4:03 PM ET

    WASHINGTON, June 27- The U.S. Consumer Financial Protection Bureau should play a bigger role in shielding people against risks from virtual currencies such as Bitcoin, a government watchdog said on Friday. "Recent events suggest that consumer protection is an emerging risk," the report by the Government Accountability Office said.

  • The Department of Commerce determined this week that two companies that produce condensate, a light oil, can export the petroleum if it is processed by a distillation tower.

  • *Worries over risks to Iraq supply ease, traders say. *Libya loads 600,000- bbl tanker for Italy. NEW YORK, June 27- Brent crude oil was little changed in choppy trading on Friday as investors moved to square positions following one of the international benchmark's biggest weekly falls this year due to reduced concerns over exports from strife-torn Iraq.

  • TREASURIES-Prices turn down at end of winning week Friday, 27 Jun 2014 | 3:53 PM ET

    *Volatility seen muted pending fresh US jobs data. NEW YORK, June 27- U.S. Yields on Friday rose on thin volumes in part on profit-taking by traders, who saw benchmark 10- year Treasury notes drop by about 10 basis points Monday through Thursday, according to BNP Paribas interest-rate strategist Aaron Kohli.

  • June 27- A long-running battle over coal-fired energy in Kansas continued Friday as the Sierra Club environmental group filed a legal challenge to the state's issuance of a permit intended to give a green light to a controversial new power plant.

  • *Gold set for 3 pct Q2 gain, underperforming complex. *Platinum, palladium up on S.African energy worries.

  • NEW YORK/ LONDON, June 27- ICE cocoa futures hit a near three-year peak on Friday on strong chart signals and falling exchange stocks, and raw sugar saw the biggest one-day rout since February on weak demand for physical delivery ahead of the July contract's expiry on Monday.

  • *DuPont drops as outlook cut. NEW YORK, June 27- The Dow and S&P 500 edged lower on Friday following a downbeat second-quarter forecast from DuPont, though consumer sentiment data helped support the market.

  • The holdouts want full repayment on bonds that Argentina defaulted on in 2002 and they have won a string of victories in U.S. courts that put the country on the brink of a new default.