Latest Business News Wires - Business Headlines


  • NEW YORK, March 21- World markets steadied on Friday after a volatile week driven by speculation over shifts in U.S. monetary policy, with equities holding near break-even, the euro up slightly against the dollar and crude oil rising on fear of supply disruptions over Crimea.

  • *Ambitious projects underway in Europe, United States. KUALA LUMPUR, March 21- The ease with which a big jetliner melted into the ether after vanishing from Malaysian radar illustrates an uncomfortable paradox about modern aviation: state-of-the-art airplanes rely on ageing ground infrastructure to tell them where to go.

  • *Nike shares fall after results. Biogen Idec Inc, down 8.2 percent at $318.53, and Gilead Sciences Inc, down 4.6 percent at $72.07, were the two biggest drags on the S&P 500. The Nasdaq biotech index fell 4.4 percent.

  • March 21- U.S. lawmakers have asked Gilead Sciences Inc to explain the $84,000 price tag of its new hepatitis C drug Sovaldi, which is encountering resistance from health insurers and state Medicaid programs. Biogen Idec fell 8 percent, Amgen Inc dropped 3 percent and Celgene Corp lost 3.7 percent.

  • WASHINGTON, March 21- Federal Reserve Chair Janet Yellen was likely just repeating the views of private analysts and investors when she said the central bank could raise interest rates around six months after ending its massive bond-buying program, a top Fed official said on Friday.

  • WASHINGTON, March 21- Raising interest rates to head off a potential financial crisis is simply not worth it, a top Federal Reserve official said on Friday.

  • WASHINGTON, March 21- The U.S. Air Force on Friday estimated that Boeing Co's development of a new refueling plane will cost nearly $1.1 billion more than initially planned, but the terms of the government's contract mean Boeing must cover the added costs.

  • NEW YORK, March 21- Sprint Corp cut 330 jobs and closed 55 stores around the country this week, as part of an ongoing plan to shrink its workforce in 2014, Cnet.com reported. The operator also closed call centers in New York, Kansas, California and is shrinking centers in Florida and Texas.

  • Transportation Secretary Anthony Foxx asked the department's inspector general on Friday to review whether federal safety officials properly investigated reports of problems with now-recalled General Motors cars linked to 12 deaths and 31 crashes, the Detroit News reported.

  • NEW YORK, March 21- U.S. stocks dipped on Friday, as investors booked profits in momentum names heading into the weekend, wiping out early gains that had pushed the S&P 500 to an intraday record high. Based on the latest available data, the Dow Jones industrial average fell 32.59 points or 0.20 percent, to end unofficially at 16,298.46.

  • NEW YORK, March 21- Crude oil futures rose on Friday as fresh U.S. and European sanctions on Russia renewed fears of a supply disruption from the world's second largest oil producer.

  • COPENHAGEN/ FRANKFURT, March 21- A deepening economic standoff between Russia and the West over the future of Ukraine has rippled through trading floors and boardrooms, with exporters scrambling to protect revenues and some global financial firms halting services.

  • WASHINGTON, March 21- Brazil, France and Mexico are expected to file papers in the U.S. Supreme Court on Monday backing Argentina in its legal battle with bondholders who refused to take part in debt restructurings from the country's 2002 default, according to a source familiar with the litigation.

  • CAIRO/ LONDON, March 21- Gilead Sciences, facing mounting criticism over the high price of its new hepatitis C pill Sovaldi, has offered to supply the medicine to Egypt at a 99 percent discount to the U.S. price.

  • BUENOS AIRES, March 21- Argentina's industrial production contracted 0.5 percent in February from the same month last year, the government said on Friday, marking the seventh consecutive monthly loss in factory output due in part to weakness in the auto-making sector.

  • *After buying co-founder's stake, Tornqvist says trading mostly normal. NEW YORK/ LONDON, March 21- Swiss commodity giant Gunvor was doing business with oil firms and U.S. banks on Friday after shock sanctions on Russian co-founder Gennady Timchenko rattled counterparties and threatened to disrupt its $250 million a day business.

  • *Gold gives up gain earlier in week as tensions ease. NEW YORK/ LONDON, March 21- Gold rose on Friday on bargain hunting, though the market posted its biggest weekly drop since November following the Federal Reserve's latest indication that an interest rate hike could come in early 2015..

  • NEW YORK, March 21- A federal judge on Friday gave final approval to JPMorgan Chase& Co's $218 million settlement to resolve class-action litigation accusing the largest U.S. bank of playing a central role in the huge Ponzi scheme of former client Bernard Madoff.

  • WASHINGTON, March 21- The U.S. Consumer Financial Protection Bureau said on Friday it is increasing efforts within the agency to create a more diverse and fair work environment following concerns about discrimination.

  • WASHINGTON, March 21- Federal Reserve Chair Janet Yellen was likely just repeating the views of private analysts and investors when she said the central bank could raise interest rates six months after ending a bond-buying program, a top policymaker said on Friday.