Latest Business News Wires - Business Headlines




  • *Wall Street pares gains after late biotech selloff. NEW YORK, March 28- Global equity markets ended higher on Friday but U.S. stocks sharply pared gains after a late selloff in biotechnology shares, while euro zone government bond yields fell on renewed bets the European Central Bank will ease policy next week.

  • *Momentum stocks still in focus; Netflix falls. NEW YORK, March 28- U.S. stocks ended up on Friday but off their session highs as a late afternoon selloff in the biotechnology sector weighed on the overall market. The Nasdaq Composite Index fell nearly 3 percent for the week, marking its worst week since October 2012.

  • NEW YORK, March 28- The administrator of MF Global Holdings Ltd's bankruptcy plan on Friday sued the auditor PricewaterhouseCoopers for at least $1 billion over its advice on a $6.3 billion European sovereign debt investment that helped fuel the brokerage's rapid demise.

  • TORONTO, March 28- BlackBerry Ltd reported a smaller-than-expected loss on Friday as new chief executive John Chen slashed costs, but a 64 percent drop in revenue underscored the challenge Chen faces in turning around the struggling smartphone maker. "John Chen did what John Chen is known for.

  • March 28- Bill Gross has yet to regain his dominance of the bond market as his Pimco Total Return Fund lagged most of its peers in the first quarter, raising the risk that more money could flee the firm's flagship fund.

  • CARACAS, March 28- Venezuela's government will allow foreign airlines to repatriate $3.8 billion in ticket sales revenues that had been stuck inside the country due to currency controls, Venezuela's airline industry association said on Friday.

  • WASHINGTON, March 28- Caterpillar Inc's offshore tax strategies will come under scrutiny on Tuesday at a U.S. Senate hearing expected to examine dealings by the world's largest mining and construction equipment maker in Switzerland, Bermuda and Luxembourg.

  • OTTAWA/ WINNIPEG, March 28- The Canadian government will remove the 25- percent foreign investment cap on medical isotope provider Nordion Inc in cases that are deemed to be of net benefit to Canada, under legislation introduced on Friday. Nordion shares were down slightly in Toronto and New York in late Friday trading.

  • NEW YORK, March 28- U.S. stocks ended up on Friday but off their session highs as a late afternoon selloff in the biotechnology sector weighed on the overall market. The Dow Jones industrial average rose 58.83 points, or 0.36 percent, to end at 16,323.06. The S&P 500 gained 8.58 points, or 0.46 percent, to finish at 1,857.60.

  • Top Texas energy company on verge of bankruptcy Friday, 28 Mar 2014 | 3:57 PM ET

    March 28- Leading Texas power company Energy Future Holdings is widely expected to file for bankruptcy in the coming days, the victim of a record-breaking buyout that piled it with debt just as prices for its electricity plunged.

  • *Wheat rises in fourth straight weekly gain on dry weather Corn up for ninth week in 10; soybeans gain second week. Corn and soybeans were nearly unchanged in subdued trading in the run-up to the spring planting and quarterly stocks estimates from the U.S. Department of Agriculture, a data release that often generates sharp price movements.

  • COSTA DO SAUIPE, Brazil, March 28- Brazil is looking at the euro zone and Japan to open new financing options for companies that are expected to invest in the country's infrastructure sector, Treasury undersecretary Paulo Valle said on Friday.

  • NEW YORK, March 28- Mystical ice creatures, fire-breathing dragons, and the people caught in between return to the small screen come April 6, when HBO's "Game of Thrones" unsheathes a fourth season that could see it crowned as the cable network's most watched series in history.

  • DEARBORN, Mich., March 28- Ford Motor Co Chief Executive Alan Mulally got a healthy raise in 2013 as his total compensation jumped 10.7 percent to $23.2 million, based in part on bonuses related to his performance as well as that of the company, the automaker said on Friday.

  • NEW YORK, March 28- Brent crude oil rose for a fourth straight session on Friday, notching its first weekly gain since February, on promising U.S. economic data and concern that possible Western sanctions on Russia's energy sector could disrupt global supplies.

  • KANSAS CITY, Mo., March 28- A top Federal Reserve official who has often warned of the risks of keeping U.S. interest rates too low for too long said on Friday she wants to see how winding down the Fed's massive bond-buying stimulus goes before setting out any path for rate hikes.

  • WASHINGTON, March 28- The White House said on Friday it will take a hard look at whether new regulations are needed to cut emissions of methane from the oil and gas industry, part of President Barack Obama's plan to address climate change.

  • PwC is sued for $1 bln over MF Global collapse Friday, 28 Mar 2014 | 3:24 PM ET

    March 28- The administrator of MF Global Holdings Ltd's bankruptcy plan on Friday sued PricewaterhouseCoopers for at least $1 billion, accusing the auditor of professional malpractice in connection with the brokerage's investment in European sovereign debt.