Latest Business News Wires - Business Headlines


  • 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.

  • UPDATE 1-Cisco rival Arista Networks files for IPO Monday, 31 Mar 2014 | 7:59 AM ET

    *Arista's switches power data centers of Facebook, Citigroup, Comcast. Santa Clara, California- based Arista listed Morgan Stanley and Citigroup as lead underwriters to the offering in its IPO filing with the U.S. Securities and Exchange Commission on Monday.

  • LONDON, March 31- Russian aluminium giant Rusal said it may accept new rules to cut backlogs at warehouses overseen by the London Metal Exchange if they were the result of a fair consultation, a company executive said on Monday.

  • European shares extend gains, Novartis rallies Monday, 31 Mar 2014 | 7:45 AM ET

    *Novartis rises on positive results for heart drug. LONDON, March 31- European equities hit a three-week high on Monday, with Novartis stronger due to good results for its heart drug and miners performing well on expectations that China might stimulate its economy.

  • FDA allows Curis to resume testing cancer drug Monday, 31 Mar 2014 | 7:44 AM ET

    March 31- Curis Inc said the U.S. Food and Drug Administration allowed it to resume testing its experimental cancer drug, lifting a November order halting enrolment in an early-stage trial. The company's shares jumped about 22 percent to $3.35 in trading before the bell. The Lexington, Massachusetts- based company's shares closed at $2.75 on the Nasdaq on Friday.

  • LONDON, March 31- The euro rose to a three-week high against the yen on Monday, recovering from a dip after lower than expected inflation numbers, though the European Central Bank is not expected to cut rates when it meets later this week.

  • US STOCKS-Futures climb with Yellen on tap Monday, 31 Mar 2014 | 7:41 AM ET

    NEW YORK, March 31- U.S. stock index futures rose on Monday, indicating the S&P 500 will climb for a second straight session, ahead of a speech by Federal Reserve Chair Janet Yellen. *Yellen is scheduled to speak in Chicago at 9:55 a.m. EST and investors will monitor her comments for her stance on interest rates.

  • *Weekend Senate vote key test for government. BANGKOK, March 31- Thai Prime Minister Yingluck Shinawatra on Monday defended herself against negligence charges linked to a ruinous government rice pledging scheme that could lead to her removal from office, the latest development in a political crisis that has gripped the country for months.

  • SIMFEROPOL, Crimea, March 31- Prime Minister Dmitry Medvedev flaunted Russia's grip on Crimea on Monday by flying to the region and announcing plans to turn it into a special economic zone, defying Western demands to hand the region back to Ukraine.

  • March 31- Logistics company UTi Worldwide Inc reported a bigger-than-expected quarterly loss, hurt by weak demand for air freight as customers opt for slower, but cheaper, modes of shipping. Air freight volumes fell 0.4 percent in North America last year, according to the International Air Transport Association.

  • *Euro zone inflation 0.5 pct in March vs 0.6 pct fcast. LONDON, March 31- Lower-rated euro zone bond yields held near multi-year lows on Monday, with a drop in euro zone inflation keeping speculation rife that the European Central Bank may loosen monetary policy further later this year.

  • March 31- Prana Biotechnology Ltd said its experimental drug to treat Alzheimer's disease failed to meet the main goal of a mid-stage study in patients with a mild form of the condition. The company's shares, which have jumped more than 300 percent in the past year, fell as much as 76 percent to $2.35 in premarket trading on Monday.

  • *Full-year net loss balloons to $1.4 billion. HONG KONG, March 31- China Rongsheng Heavy Industries Group has agreed with banks to extend loans and other financing worth 10 billion yuan to 2015, in a signal that the country's biggest private shipbuilder may be too big to be allowed to fail. Jon Windham, an analyst at Barclays, told Reuters. "

  • NEW YORK, March 31- Last year's spike in the price of ethanol blending credits cost independent refiners at least $1.35 billion, more than three times as much as the year before, according to a Reuters' review of securities filings.

  • March 31- Although Seana Mulcahy considers herself tech savvy, she was thrown a bit when her 8- year-old son Logan not once, but twice, ran up charges using apps downloaded from Apple Inc's online iTunes store.

  • FACTBOX-The final tally on U.S. refiners' RIN costs Monday, 31 Mar 2014 | 7:00 AM ET

    NEW YORK, March 31- In 2013, U.S. oil refiners spent at least $1.35 billion on renewable identification number credits, a Reuters review of securities filings shows.

  • LONDON, March 31- European stocks trimmed gains on Monday while government bond yields and the euro rose after weak euro zone inflation data cemented expectations the European Central Bank will ease policy but also prompted investors to take profit on these bets.

  • Arista Networks files for IPO of up to $200 mln Monday, 31 Mar 2014 | 6:51 AM ET

    March 31- Arista Networks, a maker of network switches, filed with U.S. regulators to raise up to $200 million in an initial public offering. The Santa Clara-based company, whose competitors include Cisco Systems Inc, listed Morgan Stanley and Citigroup as lead underwriters to the offering in its IPO filing on Monday. 1/ 8 ID: http://r.reuters.com/jaw97v 3/ 8.

  • HONG KONG, March 31- Executives from Evergrande Real Estate Group painted a rosier picture of China's real estate market than their peers after the company posted a 49 percent rise in net profit and outpaced analyst estimates for core profit.

  • *C/A surplus $5.07 bln in Feb vs $0.22 bln surplus in Jan. BANGKOK, March 31- Thailand's economy will likely post its first contraction in a year as consumption and investment fall, the central bank said on Monday, reflecting how prolonged political unrest is deepening the toll on Southeast Asia's second-largest economy.