Latest Business News Wires - Business Headlines


  • *Tensions in Ukraine fuel buying of bullion. LONDON, May 6- Gold prices firmed for a third session on Tuesday as tensions flared between government forces and pro-Russian separatists in Ukraine, and the dollar slid to a 6-1/ 2 month low against a currency basket.

  • LONDON, May 6- Representatives from U.S. drugmaker Pfizer and British pharmaceutical firm AstraZeneca will be called before a British parliamentary committee to discuss a potential takeover deal in the coming weeks, a committee spokesman said on Tuesday.

  • LONDON, May 6- Brent crude rose above $108 per barrel on Tuesday, supported by clashes across Ukraine and lingering uncertainty over Libya's supply recovery. And in Libya, the vital southern El Sharara oilfield remains closed while new protests shut the Zultun and Raquba oilfields in the central eastern region of the OPEC producer.


  • May 6- BCE Inc, Canada's largest telecommunications company, reported an 8.7 percent rise in quarterly profit on Tuesday, mainly due to strong growth in its Bell Wireless unit. BCE's net income rose to C $615 million, or 79 Canadian cents per share, in the first quarter, from C $566 million, or 73 Canadian cents per share, a year earlier.

  • OECD cuts China 2014 growth forecast to 7.4 pct Tuesday, 6 May 2014 | 5:00 AM ET

    BEIJING, May 6- China's economic growth is likely to slow to 7.4 percent in 2014 from 7.7 percent last year due to the government's drive to curb credit risk and excessive factory capacity, the OECD said on Tuesday.

  • WASHINGTON, May 6- U.S. economic growth is set to rebound strongly in the second quarter as the scars of a brutally cold winter fade, but inflation pressures will remain tame through 2015, according to the Organization for Economic Cooperation and Development.

  • LONDON, May 6- Brent crude held steady below $108 per barrel on Tuesday as clashes across Ukraine helped support a market that might otherwise buckle from ample supply especially in the United States, the top oil consumer.

  • *Wheat hits 13 month high as Ukraine, Russia tensions simmer. LONDON, May 6- The dollar fell to a 6-1/ 2 month low on Tuesday despite signs the U.S. economy is emerging from a particularly harsh winter-induced slowdown. The euro climbed to $1.3912 in early European trading, having popped out of tight $1.3864- $1.3887 range.

  • FOREX-Dollar slides broadly, bullish data helps euro Tuesday, 6 May 2014 | 4:39 AM ET

    LONDON, May 6- The dollar slid to an almost seven-week low against the euro on Tuesday, losing all of the positive shine from Friday's strong U.S. jobs data. As European trade got going after Britain's long holiday weekendm, the dollar fell to 79.24, its lowest against a basket of currencies since late October.

  • *Barclays, Aberdeen weigh after weak updates. LONDON, May 6- European stocks edged lower on Tuesday, as outlook statements from chemical groups Solvay and DSM were outweighed by a selloff in financial shares after weak results from Barclays and Aberdeen Asset Management.

  • LONDON, May 6- Britain's dominant services sector expanded in April at its fastest pace so far this year and companies hired aggressively, a survey showed on Tuesday, adding to signs that the economy has lost none of its momentum of 2013.. Britain's economy grew at its fastest annual pace in more than six years in the first quarter of this year.

  • FRANKFURT, May 6- The European Central Bank will likely hold off policy action on Thursday, waiting for new forecasts from its staff in June before deciding whether to counter low inflation that ticked up last month.

  • WASHINGTON/ SINGAPORE May 6- Singapore has reached a tax information-sharing agreement with the United States under a new law meant to combat offshore tax dodging by Americans, a U.S. Treasury Department spokeswoman said on Monday.

  • May 6- Euro zone businesses had a solid start to the second quarter of the year with activity picking up at its fastest pace in almost three years, surveys showed on Tuesday, suggesting a broad-based recovery is taking hold in the bloc.

  • BEIJING, May 6- A handful of Chinese cities are relaxing property controls to support a cooling house market and shore up the world's second-largest economy, which is growing at its slowest pace in 18 months. The unwinding of property controls is a turning point in China's housing policy, which has been tightened since 2009 to calm a frothy property market.

  • BEIJING, May 6- More Chinese cities are rolling out measures to encourage home purchases, in a sign that local governments are increasing efforts to safeguard an important driver of growth in China's faltering economy.

  • PARIS, May 6- French President Francois Hollande said General Electric's bid for Alstom's energy business is not acceptable as it stands and that the government's aim is to get better offers. Alstom said last week it was reviewing a binding $16.9 billion bid from GE for its energy arm, although it has not turned down a rival offer from Germany's Siemens.

  • STOCKHOLM, May 6- U.S. group Lexmark International said on Tuesday it had made a 1.2 billion crown cash bid for Sweden's Readsoft that was unanimously recommended by the software company's board.

  • SINGAPORE, May 6- Brent futures held steady below $108 per barrel on Tuesday as clashes across Ukraine helped to support a market that might otherwise sag under expectations U.S. crude inventories grew again last week to another record high. Brent crude for June delivery was up 5 cents at $107.77 per barrel by 0715 GMT, after settling 87 cents down.