Latest Business News Wires - Business Headlines


  • TORONTO, March 31- Telecommunications company Telus Corp said on Monday that Chief Executive Officer Darren Entwistle would become executive chairman next month, and Chief Commercial Officer Joe Natale would replace him. Telus said Brian Canfield was retiring as chairman after nearly 60 years in the Canadian telecom industry.

  • March 31- Curis Inc said the U.S. Food and Drug Administration allowed it to resume testing of its experimental cancer drug, lifting a November order halting enrolment in an early-stage trial. Curis acquired the license to develop and market the treatment from Genentech, a unit of the Roche Holding AG, for an upfront payment of $9.5 million in November 2012.

  • NEW YORK, March 31- The pace of business activity in the U.S. The Institute for Supply Management-Chicago business barometer was 55.9, down from 59.8 in February. "Manufacturing is growing, not booming," said Jim O'Sullivan, chief U.S. economist at High Frequency Economics in Valhalla, New York.

  • Vodafone brings Africa's M-Pesa mobile money to Europe Monday, 31 Mar 2014 | 10:06 AM ET

    LONDON, March 31- Vodafone brought the mobile money service that has revolutionised banking in Africa to Romania on Monday, offering M-Pesa text-message transactions to millions of customers in its first push into Europe.

  • *Economy grows 0.5 pct in Jan; fell 0.5 pct in Dec. OTTAWA, March 31- The Canadian economy bounced back more strongly than expected in January from a weather-induced decline in December but failed to regain all the output that was lost in the final month of 2013, Statistics Canada said on Monday.

  • LONDON, March 31- Emerging market borrowers raised just over $100 billion worth of debt in the first quarter of 2014, slightly below year-ago levels as geopolitical noise and uncertainty over U.S. The shortfall was most pronounced in company debt, with issuance running at $67.5 billion, compared to just over $100 billion in the first three months of 2013..

  • *Up to 100 mln pounds for new drug manufacturing in Africa. *GSK looks at Rwanda, Ghana and Ethiopia for new factories. France's Sanofi has also highlighted Africa as a promising market.

  • WASHINGTON, March 31- The U.S. Supreme Court on Monday agreed to hear an appeal filed by Teva Pharmaceutical Industries Ltd in a patent fight over top-selling multiple sclerosis drug Copaxone, a move that could deter generic manufacturers from introducing cheaper versions onto the market as soon as May.

  • LONDON, March 31- Russian aluminium giant United Company Rusal Plc could fall into line with proposed London Metal Exchange rules to cut logjams in warehouses, with a fuller and fair consultation process, a company executive said on Monday.

  • TORONTO, March 31- Canada's largest private-sector union could file for certification with the labour board to hold an organization vote at Toyota Motor Manufacturing Canada Inc assembly plants "anytime soon," a union source said on Monday.

  • U.S. justices agree to hear Teva's Copaxone appeal Monday, 31 Mar 2014 | 9:36 AM ET

    By agreeing to hear the case, the high court cast into doubt a July 2013 ruling by the U.S. Court of Appeals for the Federal Circuit in favor of two teams developing cheaper generic forms of Copaxone: one involving Novartis AG's Sandoz Inc and Momenta Pharmaceuticals Inc and another involving Mylan Inc and Natco Pharma Ltd. The appeals court upheld some of nine patents involved in the drug, or portions thereof, but declared several invalid, meaning patent protections were set to expire in May 2014 instead of September 2015.

  • LONDON/ STOCKHOLM, March 31- U.S. conglomerate General Electric is exploring the sale of its GE Money Bank unit in the Nordic region, which could fetch up to 2 billion euros, as it retreats from the finance sector, sources close to the matter told Reuters.

  • NEW YORK, March 31- U.S. stocks opened higher on Monday, putting the S&P 500 on track for a second straight advance, ahead of a speech by Federal Reserve Chair Janet Yellen. The Dow Jones industrial average was up 104.55 points, or 0.64 percent, at 16,427.61. The Nasdaq Composite Index was up 37.38 points, or 0.90 percent, at 4,193.14.

  • By Pascal Fletcher and Tim Cocks. ABUJA, March 31- Nigeria has a strong, buoyant economy receiving billions of dollars of foreign and domestic direct investment in power, petrochemicals, agriculture and consumer goods, but it needs to grow faster to reduce poverty, its finance minister said,.

  • FRANKFURT, March 31- Some of the yield-hungry investors pouring money into the financing of aeroplanes are likely to make losses, as they have pushed interest rates down to levels that sometimes do not reflect the risks, a leading lender to the sector forecast.

  • DUBAI, March 31- Dubai World, the conglomerate at the centre of the emirate's debt crisis, has the means to make its first big repayment on time next year and expects to pay off more of its debt ahead of schedule, a top executive said.

  • TRIPOLI, March 31- Libya is burning through central bank reserves and scrapping infrastructure projects to overcome its worst budget crisis in decades after the seizure of oil installations by armed groups has reduced the government's income almost to zero.

  • NEW YORK, March 31- U.S. stocks were poised to open higher on Monday, putting the S&P 500 on track for a second straight advance, ahead of a speech by Federal Reserve Chair Janet Yellen. *Investors will peruse comments by Yellen, who is scheduled to speak in Chicago at 9:55 a.m. EST, for clues on her stance on interest rates.

  • ZURICH/ LONDON, March 31- Swiss and British regulators stepped up their scrutiny of alleged manipulation of foreign exchange markets on Monday, as watchdogs take a closer look at whether banks have a tight enough grip on the behaviour of their traders.

  • WASHINGTON, March 31- Bariatric weight loss surgery on obese patients with type 2 diabetes helped many to get their blood sugar to healthy levels and to no longer require any diabetes medicines, including insulin, three years after the procedure, according to data presented at a major medical meeting on Monday.